Daily capital journal. (Salem, Oregon) 1903-1919, 1913-01-18
RELATION OF INSURANCE TO
DEVELOPMENT OF STATE

NO great city was ever built up with
out becoming the home Of one or more
great life insurance companies. This
Is true of New York, Philadelphia, Chi.
cago, Milwaukee and Portland. The
money annually sent out of Oregon
for life insurance amounts to S2,5OO.-
600. This great stream of wealth was
never even checked until the Oregon
Life Insurance company was organ
ized at Portland seven years ago, and
which now has over six million dol
lars policies in force, with total death
losses in seven years of only $56, ,663.
No such record of death losses, none
OF them due to climatic condition, was
ever made by any insurance company
in the world, and proves that Oregon
has wonderfully healthful climate,
as well as careful selection of risks
by the company referred to. Yet our
oregon people go on sending out of
the state two and half million dol
lars annually for what they could pro-
cure better here at home than any,
where in the whole world. The won
derful record of Oregon Life is being
duplicated by the Pacific States Fire
insurance company of Portland AS
no great financial and banking center
can be developed without well man
aged life insurance companies. no
great states can be developed without
successful fire insurance organiza-
tlons. One of the greatest assets of
states like Iowa, Massachusetts,, Con-
lecticut and California are their
strong, well-conducted fire insurance
companies. According to the insur-
lnce commissioners report just pub
ished Oregon is sending away ten
thousand dollars each working day in
he year for fire insurance. Only about
llne per cent Is carried by the home
and yet the loss ratio of
oregon is the lowest of any state in
he Union. All territory west of the
tocky mountains has a low ratio of
re losses but Oregon is the lowest
nd hence a well-managed fire insur-
nee company in Oregon must be very
rolltable, due largely to a climate
rec from extremes of heat and cold
nd high class of average citizen
nip and good business men and wo-
len. A fire insurance company like
life insurance company is fortunate
having men Of high personal char
cter at It's head. F, e. Beach, presi-
ent and manager Of the Pacific States
Ire Insurance company, has been a
lccessful business man in Oregon for
'rty years. For twenty years he has t
zen connected with the insurance b
lsiness. He has made a lifelong a
udy of the financial side of the fire
surance business. Like the Oregon s
lie his company reinvests all the d
oney put into 1t in the Pacific North a
est The Pacific states has now ilt
'elYe hundred stockholders all resjd-
G in this territory. The stock hold,
S IN Oregon Life are all residents of
'egon' In the conservation of the W
eaIth and the resources of the state
ID in building the ideal common
'alth and its metropolis we should !"
y some attention to these matters
d be Just as careful about sending
+ money to the far east as we would I'd
about sending 1t to Asia and Africa
either case we would not see 1t III
ain. cannot conceive of a better
y to enrich the state than by keep
larger share of fire insurance
'miums at home, especially when i"'
money accumulated is put into
ldings like the new Hammell hotel W.
Albany or a fine steel building at p,
en-, This appeal Is made to Oregon ~
'ple to stand by Oregon institutions
t are well managed and by men Of
highest character and standing in fol
business community. There is no ba
ustry that accumulates wealth so me
idly as the fire insurance business. bot
record of the Pacific states Fire no,
france company Is so phenomenal chi
the most conservative citizens are On,
ing its stockholders. The duty of S5c
gon people is TO cast their innu- Coz
Q, after careful investigation on the no,
of enterprise that build up and kin
ch the commonwealth. mn
II. HoFER. con
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