The Fargo forum and daily republican., 1909-09-11
INSURANCE news
OF The STATE
COMMISSIONER {. c. COOPER IS
SUES THE SEPTEMBER HuLLE-
TlN-ENFoRMATfoN REGARDING
STOCK INVESTMENTS IN THE
INSURANCE COMPANIES

gss 4 {.
/ The following interesting items are
from the September Bulletin Of IN
surahce Just issued by Commissioner
e. c. Cooper: 'A'.ss
We quote here a statement recently
made by Commissioners John A. Harti-
gan of Minnesota, for the guidance of
investors contemplating buying stocks
in insurance companies in the process
OF organization. Various promoters
have been Offering such stock for sale
in this state, and the information Civ
en- here may be useful to investors.
"This department is in receipt of
numerous inquiries in regard to the
merits of stock-selling schemes that
are being presented to the citizens of
this state. 1t Is not the function OF
this department to advise In regard
to investment, but few general state
ments may be of benefit to those who
are solicited to purchase insurance
companies' stock
Insurance as an investment does
not differ greatly from any other bus
mess enterprise. Some companies will
succeed, others viii fall The success
or failure will depend almost entirely
upon the amount Of ability, technical
knowledge and integrity possessed by
the management It VIII also depend
upon whether the company is organized
for the purpose Of doing an insurance
business or for the benefit OF the pro-
moters. There is no royal road to
wealth through insurance investments.
They require the same careful investi-
gationas do all forms OF industrial in
vestments.., The company that uses
half Of the receipts from stock sales
for organization purposes, as was re-
Gently. done. does not give promise of
either large or Immediate dividends" "
The LaMoure County Farmers Mu
tual Insurance Co OF LaMoure, has re-
Gently been licensed to transact insur-
ance in LaMoure county.
B. A. Scott has been appointed spec
ial agent for orth Dakota by the Home
Insurance Co., to succeed Charles +.
Buttz, resigned.
The Union Marine Insurance Co, OF
Liverpool. England. has been admitted
to transact the business Of automobile
insurance. The company has de-
posit with the state Of New York OF
100000. Assets, 64S.4S1.06. Surplus
as regards policy holders. 1856, S62,S6.
The Aetna Indemnity So. has in
creased its capital stock $4,000 in or
der to facilitate its ability to handle
the new lines Of accident and health
insurance recently undertaken.
After Sept. the Minnesota and Da-
Lkota state agency OF the Delaware. Re-
liances and Roohester German, held by
J. Quincy Haas a Co. OF St Paul, will
be discontinued and the local agents
will thereafter report direct to the
western department at Chicago. AT
present daily reports and accounts
from Minnesota and the Dakotas are
sent to ST. Paul and from there for
warded to Chicago, and the change will
do away with this delay, as well as
bring the local agents more closely In
touch with the western department.
Oficers of the Minnesota and North
Dakota Fire Underwriters were elected
as follows at the recent annual meet
ing:
President, ]. Hagerty.
vice President Edward A. Davis.
Treasurer William M. Higley
Secretary Mrs.. r. s. Sehoen.
Members OF the Executive Commit
tee--J. w. King and g. w. Cartwright
Fire losses in the United States and
Canada for Judy amounted to s15,S30,-
900. an Increase OF about $500, 900 over
the losses for July. 1908. but nearly
81, 500 900, less than those for July, 1901
For the flrst seven months 1903 shows
losses Of saas,esS.s6o. aee eeagainet lao !
ls20,s00 for the corresponding period Of
1905. ana e1S6. 1850 1or that OF 1907.
/. J. Hirsch Of Minneapolis, special
agent Tor the NorthwesteTn National
for fourtsen years, until this year, has
been appointed state agent Of the Dell
aware. Reliance and Rochester, Ger