The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-03-01
INSURANCE TAKES
TINE OF SESSION
HARDWARE COMPANY rs BEST
OF ITS KIND.
Insurance Commissioner o'Brien Gives
Interesting Talk on Protection to.
Convention. Of Hardware Dealers
Reports Show that New Company Is
Well Managed and Prosperous.

The hardware men spent most Of
their time today in the convention hall
at the Hotel Nicollet.
The morning was spent with consid-
GRAFTON Of subjects relating to the
Retail Hardware Mutual Insurance
company of Minnesota. During the
last half hour of the morning session
papers on general subjects were taken en-
up. This afternoon was occupied with
papers. and general business, concf9d-
ing with distribution Of tickets for
the Orpneum theater. Hardware men
600 strong will attend the Orpheum in
a body this evening.
Charles F. Ladner, president Of the
Retail Hardware Insurance company,
called the convention to order and pre-
sided most Of the morning; The event
of the session was an address by L.
! D. o 'Brien Of st. Paul, state insurance
commissioner.
The chair introduced Commissioner
O 'Brien as t'man who knows all
| about the insurance business.
Compliments Company.
| Mr.. O'Brien said the hardware COM
pany stood as one of the strongest mu-
tuais in the state. Original insurance
was all mutual. Then came the: system
Of "Lloyds,'',' each one of number OF
interests taking share Of the rlsh
stock companies. In Minnesota there
are all three kinds. &
establish guaranty funds, and thus de-
crease the contingent liability .r..5a& <s
81 believe" said Mr.. O 'Brien, that
future laws Of this state can be changed
if all interested in mutual insurance
lend hand, SO that mutual insurance
h. o., l. ooSe II,
panies can be more easily and more
safely organized.'
+ "Have you any criticism against ou1
company?' asked voice in the audi
ence. r-r,s t-.., -..s r.. %~
! Danger in B1gness. a
~ haven't, a word Of criticism a.
present, was the reply. "Your dan
ger will come when you get too large,
Ewhen you eventually try to run BIZ
Ecompany for profit, instead Of just fo
Eyour own protection. Z
t Pleads for Support.
President Charles F. Ladner of TIL
Hardware Mutual company, spoke Q
the great success Of their company. 1
| elf every Minnesota hardware ma.
took a $4,000 policy in our. company,
he said, land $4,000 in the Iowa asso
in the Wisconsin association 8 com
pany, figuring on the per cent Of re
), bate the Minnesota company pays, til
total rebates to the policy holding me,
chants would be 100000" H.. + -. !;
, Is. Told in Figures.
Secretary. NJ s. Mathews presente
! his report Only zone Minnesota hare
: ware dealer carries hi sewn insuranci
, Last Mayssthe MINI sota company Ell
3 tered Illinois; and now has 1910, 900 IL
q loss as yet. Last January the MINI,
y sofa company was able to return to il
>, policy holders a 40 per cent dividen'
u The company's statement. Dec. 8
! 1905, shows total premium income fl
= 1905 of 54,236.32. Disbursements 9
- account of fire losses were $16,5959
The secretary lamented that only 65sp'
3 cent Of the membership were polio.
: holders. ..... -. -,.,s.-.
=, On suggestion Of theachair, chang
a in the name of the insurance compaI
y was voted, the word "dealers bei1
eliminated, leaving the name the ssR
Pany." Cash q, Hand ...... -. p.
a The report of the treasurer, IT. Ha
ser Of Franklin, showed $89,609.52 ]
ceived during the year and $23,767:
paid out. Most of the balance is j
is vested in county bonds with the {
le ception Of over $4,000 now in bank.
RS F. W. Hurty Of the Hurty-Simmo
" Hardware company discussed "Succe
full Retail Hardware Merchants from t
j. Jobber's Point of View.' He said t
.e jobbers were not anxious for good CT
le toners to discount bills for goods p1
'g chased tsWhen you do not discou
i your bill, the jobber makes an avera
to Of Is per cent interest on his money
rs was, his explanation. j.
II Alex. W. Crozier of the Natiol
n School of Salesmanship, Minneapo
le. gave an. address on "The Practice I
e- Salesmanship.' -:- z@sssa s-sEc
OF This afternoon A. G.. Hatch Z
70 cussed "The Present Steel Age,V
on Rock, secretary: of the Superior, "
IT. Merchants association, = discuss
OF $ Credits.' /, The meeting was tt
as thrown open to general discussion, q
topics from. the question box. The
ternoon, is scheduled to conclude W
an address by Governor John A. 10!
SON.. s-r
FIRE DRILL AT THE WEST