The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-04-17
THE NATIONAL LIFE.
Minnesota Insurance Commissioner
Makes Favorable Report.

Policy-holders in Kansas of the
Northwestern National Life Insurance
company of Minneapolis, Mimi, have
been in doubt as to the ACCESSIBILITY
of staying in the company since the
recent developments at MINI eapOlis
which resulted in the insurance de-
partments of the states of Iowa and
Minnesota calling for the designations
of the officers of the company and the
appointment of new officers by the
representatives of the state insurance
departments.
DR.. Emil Stoessel, representing this
company, has been in Kansas during
the past week. He declares that I'M
der the management Of the new Off
GERS the company will be able to meet
and carry out the contracts of every
policy-holder, and urges every policy
same.
The new board of directors of the
company includes Judge L. W. Collins.
F. A. Chamberlain president of the
Security bank of Minneapolis; E. w.
Decker. vice president of the North
western National bank: S. A. Harris,
president of the National Bank of
Commerce; F. NJ Prince, president
of the First National bank; c. T.
Jamray, vice president of the First
National bank; N. o. Warner. presi-
dent SWedish-American National
bank; P. D. Boutwell,, president
Boutwell, Bros, and Wallace Nye, sec
rotary of public affairs committee of
the Minneapolis Commercial club.
These men, says DR. Stoessel ARE
representative men of Minneapolis.
There can be no question of their hon
esty and the fact that they will ad
minister the affairs OF the company in
stral ghtfOrWard manner to the best
interests of the policy holders.
1T is also a fact that the state in
surance departments of Iowa and Min
nesota were satisfied that the company
could not meet their obligations under
the mana cement of the men who were
in control before they were forced to
resign. The securities of the company,
however, are adequate to meet all en-
ergencies."
In substantiation of his claims, DR..
Stoessel presents copy Of letter
which he says the insurance commits
sioner of the state of Minnesota has
authorized for publication. It follows:
"St. Paul, April 5, 1905
Northwestern National Life Insurance
company, Minneapolis, MINI.
"Gentlemen:-At the close of the re-
cent examination made Of your COM
pany by Mr.. S. H. Wolfe, in which was
used as a basis the annual statement
filed with this department as of Decem-
Der 81, 1904 I made a report to the gov
ernor of this state on March %, 1908,
in which I used the following language:
IS NV Judgment is that the financial
Life Insurance company at this time is
such that by a strictly honest and eco
nomicaI management of its affairs the
actual rights of all Of its policy holders,
under each particular contract, can be
secured
4 have now before me statement da-
ted April 5, 1905. An examination of
this statement and a further consfdera-
ton of the affairs of the company nave
confirmed me in the views expressed by
me, as above quoted. Ny judgment is
that the company is now solvent, and
the personnel of the president and di-
rectors recently elected is such that
honest and economical management is
assured.
ssThe agents and employees of the com
pany should understand that this de-
partment has not taken charge Of the
company, and the change in the officers
and directors in no way affects its ex-
istence or authority, and they should
therefore make their renittances to the
company promptly in the usual manner.
Yours very truly,
THOMAS D. O'BRIEN,
Insurance Commissioner.
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