The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-08-19
N. W. NATIONAL
ON FIRM BASIS
KANSAS EXAMINATION SHOWS
. COMPANY IN GOOD SHAPE.
New Management Able to Make Salts
factory Statement at semiannual
Period-Expenses Reduced and Wig
orous Campaign On for New Business
New Actuary to Be Secured.

After four months of hard work the
new management of the Northwestern
National Life Insurance company has
practically completed the reorganiza-
tion of the company excepting as to
the heads of one Or two departments.
With the Encouragement OF the corpora
ton s affairs comes statement to the
public of it's financial condition at the
close of business for the first half of
this year, June 80.
This statement shows insurance in
force totaling $33,426,s50, with ad-
mitted assets of $4,l9l, 3l2.05; and a
total amount paid to policy holders and
benefciaries of $1,000, 111.5O. These
figures have been verified by strict
examination of the company by the in
surance department of Kansas.
In discussing the affairs of the COM
pany, L. K. Thompson, vice president
and general manager, said to T h e
j ournal today: $3.50 -.
"The statement now made public by
our company shows tito be absolutely
solvent and abundantly able to meet
its obligations. 1t was the intention
to have this statement verified by the
Minnesota department, and in compli-
ance with our request Commissioner
O 'Brien had arranged with Actuary
Wolfe of New York city to make an
examination for that purpose in behalf
of the department, but change in the
plans became necessary owing to the
serious automobile accident in which
MIR. Wolfe nearly lost his life. The
statement has been verified, however
in fact was practically made by the
Kansas department. after most thorc
and complete examination Of all the
affairs of the company. Mr.. Upton
| tod e., L,
Kansas department., went into the
minutest details Of every branch of the
business, spending two months at thu
offices of the company.
In our work Of placing the affair
OF the company on sound basis, w
have been able to reduce the annua
expense of conducting the home offic
over $50, 900, with a corresponding re
duction of expenses of field forces, AM
the foundations are being laid for tn
upbuilding of worthy structure.
"The company will for the presen
confne it's business to the western
states, and expects to do it's larges
business in it's home territory. A com
plete new line of policy contracts i
to be issued without delay, and we ar
| preparing to beg in an aggressive cam
paign for new business. It is the pun
pose Of the new management to max
the company not only a credit to Min
neapolis and the northwest, but in fac
one of the best life insurance companie
in the country
Gives Directors Credit.
General Manager Thompson gives du
credit for the successful reorganizatio
of the Northwestern National to tn
Minneapolis bankers who figured S
prominently in the work. He said:
"The selection Of the presidents q
executive heads of the five leadin
banks as directors, and as the executiv
, committee of the board Of director
; the company, was a most wise and TO-
tunate thing. They have given yer
s large share of their time to the affair
of the company since accepting the r.
/ sponsibilities which they undertook
meeting three or four times wee]
sometimes oftener; and to their goo
e business Judgment and earnest effor
are due the satisfactory conditions thu
l exist today
General Manager Thompson will g
t east the first Of the week to comple1
arrangements with one of several prom
t inent actuaries who have been consi,
;, cred TO head of the Northwestern
i Nationals actuarial department.
! P. Bannon, manager Of the Audit
! rum, the property of the insuran'
! ! company, is now in the east booking a
fractions for the coming season. I'll
outlook is that in spite Of gloomy stat
ments made by enemies of the compar
to the contrary, this winter will demo
strate the auditorium able to pay sd
isfactory interest on the investment.
). T. D. O'Brien, state insurance cor
" missioner, said today:
"The semiannuaI statement Of IL
a Northwestern National Life Insuran,
; company Of Minneapolis shows a SUI
i plus, and while I have not had suf
d cient time yet to analyze the statemen
5 I can say that in my judgment the pre-
l. emit management has shown great re
g in endeavoring to place the compa1
n upon, a sound footing, and I am mo
:: confident than ever that that resu
+ will be achieved.'