Pullman herald. [volume] (Pullman, W.T. [Wash.]) 1888-1989, 1910-10-21
FAIL TO CLAIM $1,000 REWARD
Insurance Combine Thwarted i'm Its
Efforts To DisCredit the Strong
est Mutual Company i'm West.

combine to oppose everything in
competition TO it contains an inter
esting story.
Their opposition has been center
cd on the Northwestern Mutual Fire
Association, which by carefully select
ing the most profitable classes of
risks. is making its policy-holders a
saving of almost half their insurance
premiums and has built up greater
proportionate cash resources than
the strongest stock companies. This
has forced the combine, against their
liking. to cut their rate on many
classes of preferred risks.
Conducts Campaign of Prejudice
A vigorous campaign Of prejudice
has been conducted against the
! Northwestern Mutual, and for this
purpose local insurance agents rep
resenting companies belonging to the
combine have been used extensively.
| Many of these local representatives
who are honorable men, have helped
to circulate the misinformation plac-
ed in their hands without realizing
that there was no truth in the reports
given them to circulate. Unsuspec-
| ting local newspapers have also been
used to a considerable extent, with
out realizing that they were doing
an injustice to their subscribers.
Among the most prominent false
statements are the following four
statements:
First-That all policies issued by
the Northwestern Mutual carry an
assessment liability.
Second-That the company not
having subscribed capital does not
furnish it's policy-holders good in
demnity.
Third-that Mutual companies as
good as the Northwestern are continu-
ally failing.
Fourth-That there are many
times as many failures of mutual
companies as of stock companies.
Reward offered
The management Of the North
western offered a reward Of $1,000
for proof of any one of these state
ments in the following order:
Frst-$1O00 to any one who will
prove that our policies are not abso-
lutely worcestershire.
Second-$1O00 to any one who
will prove that this company has not
more actual cash resources in pro-
portion to the amount needed to
carry all its policies to expiration than
the ten largest stock companies in
the United States, including all their
subscribed capital and surplus as
based on the past nine years expert
ence
Third-$1OO0 to any one who will
show the failure of a single mutual
fire insurance company in all Amert-
can history after it had reached the
age, size, strength and record of this
company.
Fourth-$1OO0 to any one who
will prove that there have not been
! so per cent more failures of stock
companies during the past forty years
in proportion to the number doing
/ business than there have been fail
| ures of mutual companies.
This offer was mailed during the
month of August to every insurance
office and agent on the Pacific Coast
so far as addresses could be obtained,
also the Coast Review, the leading
organ for the campaign. The presi-
dents Of the five largest banks in Sc
attic were named as judges and time
was given to October LIST for proof
to be filed, but no one filed any proof.
This would surely have been easy
money had there been any truth
whatever in their statements.
Concede All to Northwestern.
By failing to claim the rewards Of
fered, the opposition has conceded.
First-That the policies of the
Northwestern are paid up and non
! assessable.
Second-That these policies are
backed by more than the ten largest
stock companies in the United States.
Third-That of the more than two
thousand fire insurance companies
that have failed in the United States
no mutual company ever failed after
having attained the size, strength and
record Of the Northwestern
Fourth-That there have been so
per cent more failures in proportion
to number among stock companies
than among mutual companies
! With such a showing Of strength as