The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-03-31
NAME NEW OFFICERS
FOR Big COMPANY
Committeeman Investigate the
Condition of Northwestern
National Life

There is a possibility the new officers
of the Northwestern National Life insur-
ance company, who will succeed w. F.
Beehtel, the president; F. ]. Sackett the
secretary and A. F. Timme, 1.-The actuary
who are also members of the board of d.
rectors, will be selected today.
Yesterday the citizens comittee APP
pointed by the insurance commissioner
held a meeting at the Minneapolis club
and discussed the situation
David j. Jones. mayor of Minneapolis,
was chosen chairman. The other mem
peIs OF the committee were John Lind,
Lucian Swift and B. F. Nelson. F. A.
earle declined to serve and I. b. Janney
was elected in his stead.
The committee considered the affairs Of
the company from the viewpoint of inves-
tiSators and while nothing developed from
the meeting yesterday afternoon IL Is ex-
pected that the directors of the company
whose designations have not been re-
quested VIII meet with the committee to-
day and there will be a further discus
sion of the affairs.
Protect Policy Holders
There were no tangible results from the
conference of yesterday but members OF
the committee are satisfied that an ar
rangement will be reached whereby the
interests of the policy holders will be
protected and the company will continue
In business. number of the members
OF the committee are not policy holders,
but they are men of high standing In the
commercial world in Minneapolis and seek
TO place the company on sound founda-
ton
The investigation of yesterday satisfied
the members of the committee that with
change in management the company
would be able to weather the storm and
would meet all claim.
L. d. O'Brien, the insurance commits
Sloner, was present at the meeting and
he gave his views of the matter to the
members of the committee.
The directors have not been called to a
committee. but they have had some In
formal talks with the members. The
opinion seems to be that before any rec
ommenda tions are made the directors will
be allowed hearing.
In February two new men were added
TO the directorate. They are w. C. Nye
and +. d. Boutell. At this meeting the
directors decided to cut the salaries of
the president, secretary and actuary in the
middle and since that time these officers
have been drawing half the pay they did
before.
Commissioners Statement
We went over the situation thoroughly.
and l am pleased to say that We found
the :eo3mpany's affairs in a much better
surance Commissioner O'Brien last night
The board of safety named by the
commissioner and governor met at the
Minneapolis club yesterday and discussed
all the possibilities of the situation. The
first object of the board will be to Sc
cure men to fill the positions vacated by
tne designations OF PRESIDENT Bechtel and
the other officers. The board spent the
most of the day in discussing names of
men who could be secured, and who would
be acceptable No appointments were
made, but will probably be today
The process of placing the company in
the hands of a committee was adopted
for two reasons.
1T will save expense" said Mr.. O'Brien.
that would be incurred If the company's
affairs were placed in the courts. Then,
too, we wish to protect the policy hold
nff ri.
1t would be difficult for them to obtain in
surance elsewhere. The policies If taken
up by another company might not have
valuable as they will be in case the COM
pany can again be placed on a firm foun-
dation."