The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1906-02-09
Extracts From
HHs
Annual Report
@ fuH
Northwestern Mutual
Life Insurance Co
Il slsnAsl Via
Ter Year thaihs Ian [. 1905

% e~sss.s q t.p"sss o ss@r~ssa
'frn.s sss.isisifsiiss rsisasrs - st~
f'paFtEf ss aisliafsist,ss ffe.a SEC
ssseff ssf'fasss ssss Z as fss osFa. 81
ii,s fssaisas eoIisflss. its tssstFs ~
Az tsrssf ttr assftfsas brass e ~
SO q a. DO q fissgse.ns Del fssrF ~ lhis
ceaasasf nffas fsq orsi ia rsasss
selfs. hst this esafsst rsisss tnsft
be- salaries b. alsiosfs snS Co. ssEsf - .
ia So tFsfssfaiaf - iis fastFisi sfsss
siians. be- ist ss Sc stsssss es.as
pssf, d snsif tsts nosl ti,f paiifs
bsiasss ses'.ts5 q 90 - frF ossi s.sss
ihss ii ga
rssiss 40 isrtit sssits osss
psfirs ssd Fiiaissiitg ffea ups ssas
tsF g - Cuapssy sad ttfss isfgs ouas
psniss shirt haze hrsa Fsesfilf ssb
iscisd 90 suas cfiiiCissa So alleged
ihsf3i.sis rspsnsss e asnsFsnssis
isstiHg Zoe cnnrssison osif hos
oonpsniss ada'itsiii conservative.
ss Sod tiss average ~ sssscf stp~asss
ssd camHilssinns b. rfssaisas ooiisstFd
~ tr .isrins isci Ia a. t.sasy.pas
eparaniss itii psF osta -hiis issi
% his cnsnpsHy vss no. psf ossi .
sstins 20 ihs policy holders - he
Nosshsssisrs Of 1."e 90 cent "a nso's
ihaa issniy eight miiiisns ~ pfemi
sms cgliecsed ZOE slnsis yssf. ons
isfFe company inoi incisfsd Ia 10
above comparispni. -hich has FOE sst
sfal pears b-sn Operating under saisr.
led msnasers Instead ~ general sssn's.
paid IN commissions dsriag ipoi ibs
last year for stitch asarcs are attain
able ii.es pr .csaL ~ the premiums
collected. This il 10 excess u ne
commissions, lice per cent. paid BY
This Company during The sane period.
In addition n tho commissions. The
aforementioned company paid for
salaries and alloFancs. % manager.
and agents SASH 20, and for agency
supervision. travelling aud other sgcn
ey expenses sl.0js,5pl; for rents for
ranch agencies Esj, Jos. a total Of
si,i2s,6sO Cor services which are per.
formed by the general agents Of this
Company and expenses borne by them
without other compensation than the
commissions quoted above. Another
company which has more recently tried .
the experiment OF salaried managers In .
place OF general agents paid 10 1901 In 4
1888 per cent. OF the pre-
mlums collected and In addition, rents
and other agency expenses amounting
TO e., 35I, 1855.
The foregoing figures demonstrate
the correctness OF the statement that
the agency work OF this Company is
being conducted at lower rate OF ex-
pense than that OF other companies
and the fact that there was written and
paid for by the agents ofthis Company
last year more than ninety millions OF
insurance, and premiums collected and
RENTED to the Company amounting to
s30, 166, $50, at total expense OF So,
1893, 1927 would further indicate that
This Company Is getting a greater val
ne for the money expended In its field
work than any other company.
Combining all departments of the
activity, we find the per.
,entage of all expenses and taxes to
.otal income to be IA per cent. for
1908. The average percentage Of all
companies, seventy-nine in number, in
1904 was 2l.05 per cent. Reduced to
dollars and cents this saving alone
to S2,772,430 or more than
1850 for each thousand dollars of in
,urance In force"
Probably no other fact in a companys
business Is so potent In determining dividends
IS the rate Of expense at which 1t Is conduct
ID.
dividends 0ptprmino coet"