The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1909-04-29

vest the money received from prem
iums in South Dakota securities, n
which he considers will he advan-
tageous for the upbuilding of the
state. This company has been built
up through the avoidance of Offering
any special contracts as IN induce
ment to secure business. At the pre-
sent time the Central Life has a half
million dollars of Insurance in South
Dakota. Going into some detail of
the Central Life Mr.. Everett said:
THE company was organized over
13 years ago.. We have had a grad
ual development, bearing In mind
continually conservatism and per-
manency. rather than quick mush-
room growth. We reached a million
dollars in assets when the company
was twelve years and one-half years
old, which vas earlier than the ma
jority of the big companies reached
pany o has organized agencies in
IA states and is making a substan-
tial growth each year. The develop
ment for the year 1909 is more
marked than in any previous year of
the company's history. The first quar-
ter of the year shows an increase of
SO per cent over the corresponding
quarter of last year. We have been
operating in South Dakota six years,
and have a substantial business in
certain sections of the state. and
we now propose to locate in Mitchell
a state agency and hope eventually
to cover the whole of South Dakota.
We feel that business in South Da-
kota is desirable because of the gen.
eral low mortality of the state and
the %prosperous condition of tho pee
pie. The company has been able
in the past to build up strong agen-
cies in localities that were we'll work.
ed by other companies and which in
the beginning did not offer the bright
prospects which seem to exist in this
state. and we believe that in a few
years the Central Life will be able
to take a position second to none in
the state of South Dakota. The com.
pany has a big advantage of opcrat-
ing under the Iowa deposit law.
which requires the deposit Of the
full reserve or net cash value of each
policy with the state insurance de-
partment of Iowa, thus providing \
definite method of Nsecurity and maxi
ing the policies issued by the COM
pany just as secure as the money OF
the country issued by the national
banks, secured by deposit of gov
eminent bonds with the United
States government. Added to this
is the fact that all policies now is
sued by the company guarantee every
feature and leaves nothing indefinite
taking a policy in the company now
gets it at a very low rate, the divi-
dends, which the companies usually
estimate they will pay, being dis
counted anu LdhCu OuI III duSdlCS.
At the conclusion of his remarks
Mr.. Downey spoke a few words with
reference to the selection of Mitchell
for the state headquarters, and In
which Mr.. Everetts said he concurred
heartily.
Mayor Hitchcock spoke briefly on
corning the coming of the strong
company to Mitchell and welcomed
the gentlemen in the heartiest terms.
S. E. Morris, of the Western National
hank, also spoke in high terms of
the company, having had some busi-
ness relations with it, and felt pleas
ed that Mitchell had been selected
over other towns in the state. Com
missioner Ness took occasion to say
a few kind words in behalf of the
gentlemen and of the coming to
Mitchell of this company.
Mr.. Everett returned to his home
at Des Moines, Iowa, this morning
and he expressed his sincere thanks
for the very kind treatment that had
been accorded him and the state
agent, and for the kindly feeling
that was in evidence for the Central