Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1907-10-10
ENDORSE COMPANY
Industrial Commission and Bus
mess Men Act on Life Insur-
ance Proposition.
WANT HOME OFFICE HERE
Committee Named to Assist in Dispos-
ing of Sufficient Shares of Stock
In Rock Island.

At meeting of the Rock Island In
dustrial commission last evening, with
business men of the city generally, the
commission adopted resolution giving
its unqualified endorsement to the
First Savings Bank Life Insurance
company and its organizers, Paul
Kersch, Milton Denney, and James L..
Ferguson, and also took steps to ma
terially assist these gentlemen in plac-
ing sufficient stock in the new company
in Rock Island in order to insure this
city the home Office of the company.
The meeting was presided over by
Hon. T. J. Medill, president of the COM
mission, Secretary Mayer Levi actiAg
as secretary. AT the opening of the
meeting Mr.. Levi read a few letters
from bankers, insurance men, and 9th
ers, including Samuel Alschuler, Sena-
tor A. J. Hopkins, and men of high pO-
sitiun, regarding the character and abil-
ity of Mr.. Denney and Mr.. Ferguson.
Plan Is Explained.
The plan of operation of the new
inst rance company, which has been
disCu used 10 some extent heretofore in
The Argus, was explained by the three
org; nizers of the company, and the adj
van ages Rock Island would gain by
the location of the home Office here
wera also shown. Mr.. Kersch pointed
out that with industrial and CONNER
cial growth, a city's loan facilities must
nee ,ssarily increase, and he showed
thai no institution better increases the
cree it facilities of city than does the
hon e office of a legal reserve life in
suri nee company. He calculated that
the .ompany's location here would mean
in J ) years an increase OF $5,0O0,O00 at
leas in the bank deposits of the city
froll this source alone.
Men the Only Problem.
NJ. Denney and Mr.. Ferguson explain
ed the business side of the proposition,
and showed that success in the life in
SUR nee business is simply matter of
cap bic management, and the selection
of len able to produce the business.
He showed that $4,000 is all the work.
ing capital required the $4,000 addi-
ton al to this amount received from
the sale of the stock of 100000 CAPT
tall; alton being deposited in savings
ban IS in the state and certified to the
state insurance commissioner as a guar
antee of the legal reserve fund which
insUres the policy holder that the com
PAM will meet the obligations of its
con, racts. Mr.. Ferguson showed that
witt even moderate business, the
com pany can not fail to be financial
suct ess, and he also demonstrated thai
life insurance is a business where the
inve stor in stock stands practically ne
risk of losing the money invested.
Resolution Adopted.
After the matter had been thorough
" discussed by the organizers anC
Otto Huber, William NJ. Reck Charlie;
McHugh, DR.. G. l.. Eyster, and others
and the endorsement of II. f. Casteel
Carl Hellpenstell, c. j. Larliin and 9th
ers of the bankers of the city, who wer,
not present, had been expressed to thu
meeting by telephone message, a me
ton was carried that committee com
posed of Otto Huber, f. w. Bahnsen
and DR.. G. l.. Eyster prepare resolu
tions expressing the endorsement o
the commission. The resolutions re
ported by the committee and unani
mousIy adopted, are as follows:
"The Industrial commission of Rocl
Island hereby gives its unqualified en-
dorsement to the First Savings BAN
Life Insurance company, and to its OF