Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1910-10-21
FAILED TO CLAIM $4,000 REWARD.
Insurance Combine Thwarted in Its Efforts
to Discredit the Strongest Mutual Com
pany in West

pany in West.
The efforts of the San Francisco
combine to oppose everything in com
petition to it contains an interesting
story.
Their opposition has been conferred
on the NorthwcStern Mutual Fire
Association, which by carefully Sc
Letting the most profitable classes of
risks is making its policy-hoiders
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, ag INST their
liking, to cut their rate ON many
classes of preferred risks.
CONDUCTS CAMPAIGN OF PREJUDICE.
n vigorous campaign of prejudice
has been conducted against the
Northwestern Mutual, and for this
purpose local insurance agents repre-
Senting companies belonging TO the
combine have been used extensively.
Many of these local YES,
who are honorable men, have helped
to circulate the transformation
placed in their hands without realiz-
ing that there was no truth in the
reports given them To circulate.
Unsuspecting local newspapers have
also been used to considerable eX-
tent. without realizing that they
were doing an injustice to their sub
ScriberS. Among the most promi-
nent false statements are the follow
ing four statements:
tirSt-That all policies issued by
the Northwestern Mutual carry an
assessment liability.
Second THAT the company not
having subscribed capital does not
furnish its policy holders good in
demnity.
Third-That mutual companies as
good as the Northwestern are con-
tinually 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 81, 900 for
proof of any one of these statements
in the following order:
First-$1, 900 to any one who will
prove that our policies are not abso-
lutely non aSSeSSable.
SecOnd-$l 900 to any one who
will prove that this company has not
more actual cash resources in pro-
portion to the amount needed to car
ry 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-$l, 900 to any one who will
show the failure of single mutual
fire insurance company in all Ameri-
can history after it had reached the
age, size, strength and record of this
company.
Fourth-sl 900 to any. one who
will prove that there have not been
30 per cent. more failures of stock
companies during the past forty
years in proportion to the number
doing business than there have been
failures 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 Rerie,c, the leading or
gan for the campaign. The presi-
dents of the five largest banks in Sc
attic were named as judges and time
was given to October lst 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.i
Second That these policies are
backed by more cash resources in
proportion 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 80
per cent. more failures in proportion
to number among stock companies
than among mutual companies.
With such showing of strength
as conceded by its competitors, and
with its large cash dividends re-
turned to policy-holders, the proper
ty owner whose property is up to
the required standard of the North
western will not be slow in choosing
between this company and the San
Francisco combine.