Omaha daily bee., 1907-03-31
26,357,19l s2,s72, ISL s29 l95,o67 B,s2a sT7

Total .ss9, 247, los
Twenty years ago there was no life In
suranee company in the state Of Nebraska.
The business Of life insurance in the on
tire country was written by a few eastern
companies. Nebraska, a young sparsely
settled state, was sending east year after
year comparatively all its earnings to pay
life insurance premiums, fire insurance
premiums and excessive interest. It is
little wonder the people were poor under
these OBSERVATION-DISCLOSURES, like indivld-
ualB, grow rich by keeping their money
ct home.
Twenty-three states and territories ly-
ing west Of the Mississippi river in 1905
contributed to life insurance companies
alone ss2,SSs.000. This does not include
fraternbl insurance. In the last ten
years the state Of Missouri has sent TO
eastern companies more than 3100, 0OO, 00O
the people of Kansas over $4,000. 600. In
the fifteen years ending December 81, 1908,
the state of Nebraska sent cast for old
line life insurance alone 23.l95,o57. OF
this amount less than $4,000, 900 was re-
4 turned for death losses The S17b00, 900
are still in the hands OF the rich corpora
lions in the vicinity Of tho Atlantic coast
the plaything of the fnanciers.
How Il Affects Nebraska.
Would the west be richer, would Ne
braska be richer. IL this money had re-
NAMED at homer A few years ago about
twenty companies were the benehciaries
Of all these premiums. A lack of foro-
sight on their part and good and liberal
laws have permitted the organization and
growth OF much Ito them) unweloome
competition. We now have actively OPP
Grating in the United States los COM
panies, many Of them in the western
states. four Of them in Nebraska. Local
pride, common sense and conservative eco
nomical management by these western
companies has made them exceedingly
hard competitors for the giants. Ne
braska people are beginning to realizs
that 1t is poor policy to send their money
east TO be invested in stocks and bonds
and summer palaces, to be dissipated by
extravagant management and enormous
salaries or even for investment in COM
mercial enterprises. Every dollar of our
Western money can be used to advantage
y at homein the development of our west
ern resources, the opening OF farms and
factories and the operating of strong
financial institutions.
An eastern insurance agent begs the busi-
ness Of the people OF Nebraska because his
company has 100000 loaned in the state.
At 6 per cent in ten years our people will
nay in interest on this 100000 not less
than s., $4,000, which will go east they will
still owe the principal, still pay the
premiums. Nebraska companies have now
about $4,000 loaned on Nebraska farms
In ten years at per cent the interest VIII
be $25O0io00, but IL win stay at home. The
principal will be at home. and the prem
iums will stay at home. Which is best for
the banker, for the business man, for the
farmer for the citizens of Nebraska In
general7
Growth of Home Companies.
In December 1906 the total old line In
surance IN force in Nebraska was in round
4 numbers 500. 100000 OF this sum less than
tzs 10000 was written by home companies
' but the bulk Of Il has been written in the
last five years. Nebraska companies are
growing, they are writing today much more
Insurance. in Nebraska than any eastern
company The eastern companies view
with alarm these conditions which tend to
loealize their business; they must and will
II possible prevent the organization OF
other companies and strange, II possible
those already in existence.
To this end has been introduced. in the
legislature Of Nebraska and other western
! states, Bills to hamper and embarass ouI
home institutions. The Massachusetts
Ohio and wisconsin companies are now
urging the passage OF these laws In thelI
own states The New York companies are
already asking for the repeal OF many
passed In New York which have been found
impracticsble. IL is easier to pass a law
than It Is TO repeal one. Let us move
slowly-and foster and protect our home
needs the money.