Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1910-05-29
HELP FROM HOME COMPANIES
Benefits that Accrue from Growth of
Local Concerns.
INDEPENDENCE OF WEST COMING
Millions Hitherto sent East Will BE
Kept Close BY, where IL Can
Aid In Building Up the
west.

A panacea for financial ills in the west
is seen in the undeveoped scope OF home
industry in the insurance field, by all local
insurance experts Men who have forged
Omaha into a place of growing Importance
as a center for insurance in the west de-
clare unlimited millions of capital are being
diverted from the open maws Of huge east
ern corporations into the upbuilding OF
young companies of the home section as
result of the awakening that has come to
insurance distributors and consumers.
f. T. Swobe Of the National Fidelity and
Casualty company of Omaha is one of those
who see dazzling future for the financial
activity of this part of the country
The central west and the west is in its
infancy in Insurance." declared Mr..
Swobe, in a discussion of home industry.
I'm years past and up to very recently,
there were no insurance companies with
headquarters this side of the Alleghenies.
Millions of dollars of insurance was writ
ten in the west by companies located in
New York land Pennsylvania. The result
was that the resources of the west were
placed in the hands of eastern financiers,
and when money was needed for the re-
moval of crops and for other enterprises in
the west, the latter was forced to borrow
back its own money from the east. The
sprouting up of local companies now means
that the money of this section is being re-
tained, to a large extent. in the west"
Home Companies Prosper.
Mr.. Swobe submitted a grist of figures
showing the extent of life insurance bust
ness produced in various parts of the
country. He declared that most Of the con-
Germs established in the last few years in
this section had thriven to the point where
they had either raised their capitalization
to the required s250,OOO to do business out
side their own state, or were on the verge
of doing so.
IAN example of what the insurance fielt
holds forth" said Mr. Swobe, 'is the fac
that Pennsylvania, the stronghold Of in
surance companies, today has more insur
ance in force than the deposits of all tn,
national and savings banks of the country
combined. This is the broad channel O
activity that marks the scope of home in
dustry.
ut is a sig llfica1t fact that three-fifths
of the actual money in the United State
is controlled In the state of New York, AM
this is largely accounted for by the i'm
mense accumulation of assets by insuranc
companies located there. For the employ
ment of this money Nebraska is payinl
its share of It's interest income
Future for Nebraska.
THE growth of western insurance com
panies, with hardly an exception, has ia
eclipsed that of those corporations of i'm
mensely bloated assets which are nov
thoroughly iItrenched in the east. 1t
1 therefore only matter of time when Ne
braska will be able to finance it's own en-
, terprises, and when, with properly con
sentative methods, the states financial in
dependence will be secure.
with the further development of HON
companies, Omaha is destined to take It
rank among such cities as Hartford, De
} troit and Den Moines, which have game
recognition in the insurance world. It
a recognized fact that money is Away
, more abundant and more available in in
surance centers than elsewhere Man
: cities boast with pride concerning the HON
offices Of their insurance companies
! There is no enterprise more far reach
/ ing in its benefits to a city than a we
4. established insurance company Its man
agents scattered over the country are dali
advertising the place of its home office
Tons Of the company's literature are ser
out for distribution, bearing the name c
l the city in which is located the headquaI
= tiers OF the company"