The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-03-30

surance company is combination of a
number of the smaller insurance COM
panies of the northwest. 1t was or
ganized by the consolidation of the
Northwestern Life association of Min
neapolis. of which DIR. ]. F. Force was
president. and the National Life asso-
citation of Madison, Wis, of which w.
III. Bechtel was president.
Under the administration of Presi-
dent Bechtel the company has been
well advertised, although the returns
according to some of the reports, have
not been commensurate with the ex-
penditure for advertising purposes.
Officers Refuse to Talk
The officers of the company are reti-
cent. They Will not discuss the af-
fairs or the concern, but il is stated by
insurance men that last year the COM
pany wrote insurance to the amount
OF S59O,OO0 in Minnesota and lost in
surance for the sum of $16OOOO Its
business in the country is said to have
been about S4-000,000, and the amount
OF insurance it lost was nearly $9OOO,-
900, according to report, and would
have been larger had it not been for
the absorption of the Northwestern
Life and Savings association of Des
Moines.
The total insurance in force is said
! TO be approximately 5000, 600, all
though +. j. Sackett, secretary of the
company, says he is not prepared to
give the number of policy holders or
the amount of insurance in force. Eff
forts to see President Bechtel and a.
r. Iimme, the actuary, were. unavaiI-
| ing last night.
Since the consolidation of the Bech-
tel and Force companies, a few years
ago, the company has conducted its
| business on an ostentatious scale IT
he
the Andrus building, at Fifth street
ana Nlcollet avenue, and is now con-
struct1ng handsome office building,
OF which the new Auditorium forms a
part, at Nicollet avenue and Elev-
| enth street
erty was free asset, Mr.. Sackett, the
| secretary, intimated in plain terms that
IL was none of the business of the in
| quirer.
Builds the Auditorium
A little over year ago Mr.. Bechtel
| made proposition to the MINNEAPOLIS
! commercial club TO the effect that if
the members of that organization
would secure 1000, 900 of insurance in
Minneapolis the company would erect
| an Office building and would provide
4 also fine auditorium. The members
/ OF the club were organized as insurance
| solicitors and the newspapers friendly
to the plan lent their aid in every way
! and, as result of the advertising
| pledges and cash TO the amount of
| $l,25O,OOO were secured. Some criti-
clsm OF the methods of the company
In report made public by the insur-
ance commissioner caused a portion of
| the public to lose interest in the plan
and as a result not all of the insurance
! was written.
Nevertheless, the company proceeded
with the erection of the auditorium and
| office building and while the section OF
| the building which is to be devoted to
offices is far from completion, the au-
ditorium Is well equipped and has been
| the scene of several important dra-
| matte and musical events.
The company is best known as the
builder of the auditorium, which is
practically completed, although the
| great pipe organ which has been Sc
| cured at large expense has not been
placed in position. because the building
| which is constructed of concrete, is not
thoroughly dried and there would be
a possibility of serious damage should
| the expensive instrument be installed
\ at the present time. 1t is claimed that
the organ is in Minneapolis and will be
| installed in a few days.
This structure. which may and may
| not prove free asset. is erected on
| land which was purchased by the
| Methodist churches of Minneapolis as
| an episcopal residence for the bishop
] assigned to Minneapolis. The churches
| failed to make the payments on the
| property and as result the mortgage
was foreclosed. Through several steps
| "a profit being made at each one-the
| property came into the possession of
| the Insurance company. This land is
said to be mortgaged for $4,000.
Nye Defends Company
While the officers OF the company
| will not discuss its affairs with the
newspapers it has stanch supporter
| in w. G. Nye, secretary of the public
| affairs committee of the Commercial
| club. He says that the auditorium
| property is free from all membranes
] and the structure was erected without
4 the company borrowing a dollar or
| drawing upon its bank account. He
| declares the income of the company is
at least 100000 a year and the ques-
| ton of its solvency is ridiculous.
According to Mr.. Nye the property is
worth at least s350,00O and there is no
incumbrance upon it. The records of
| the building inspectors Office call for
| the erection of building which will
cost about $4,000.
The absorption of the Des Moines
| company was attended by considerable
| opposition and some litigation on the
| part of the Iowa policy holders, but the
| Bechtel interests prevailed and the
company was incorporated with the
| Northwestern National Life of Mime
| apolis.
The Bechtel management has been
| criticised many times by numbers of
| the insurance men of Minneapolis, and
| while some may be actuated by feel
ings of professional jealousy they are
none the less outspoken in discussing
4 the affairs Of the COmnanV