The Fargo forum and daily republican., 1917-01-11

1
directors elected the, following ON
GERS: ..
President-Arthur F. Hall
First Vice President-D. B. Ninde
Second Vice President and Manager
Agencies-T. D. Hughes.
| Secretary and Actuary-A. L.
Dern.
Treasurer-w. w. Scott.
Medical Director-Dr. g. A. Carpen-
ter.
Consulting Actuary-F. 3. Mead.
| Auditor-Chas. j. Dignam.
| These officers win conduct the a.
fairs until the merger Is made, at
which time T. D. Hughes will be elect
| ed vice president of The Lincoln Life.
The Fargo Offices will be continued
with Mr.. Hughes in charge Of agents
in the northwest and w. w. Scott in
charge Of the offices. Mr.. Dern will
be transferred to the home ofice in
Fort Wayne. Ind. The other ONCE
employees will retain tkeir present
positions.
The loan department will at once
be enlarged and large amounts will
be loaned in the northwest states.
Premium collections will continue to
be made by the Fargo Offices and
Pioneer Life depositaries will in no
way be changed or disturbed. In
on this territory will be to increase
several times over, the funds available
for North Dakota farm loans and bank
! "A few years ago financial circles
were aroused over the merger OF two
Minneapolis banks, the Northwestern
National and the Swedish American"
said President Hall this afternoon.
"The establishment had hardly subsid-
ed when two more OF the Minneapolis
giant banks consolidated, now known
as the First and Security National Of
that city. All these institutions before
consolidating were not only well man
aged but equally prosperous.
Nov The Pioneer Life Insurance
company Of this city and the Lincoln
National Life Insurance company of
Ft. Wayne. Ind, are to merge. or all
the life insurance companies operating
In the United States none can boast
Of better management, greater prog
ress or that the interests OF policy
holders have been safeguarded with
more fidelity, than these two.
Great mergers like these are usual
ly brought about for the purpose of
reducing expenses to a minimum and
increasing services to the maximum.
The Pioneer and Lincoln jointly have
over fifty millions OF insurance in
force. These risks will be well dis
tributed from coast to coast, over the
north and central portions Of the
healthy mortality. It will have COM
bined assets in the amount of over
$4,000,000.00, which will be invested
principally in first mortgage farm
loans in this and other northwestern
states"
In speaking OF this great merger.
The Western Underwater OF Chicago,
the great insurance journal OF the
country said in this weeks issue:
The Lincoln National Life IL one
OF the splendid companies of the west
and the merging OF these two institu-
tions will mean a larger service and
all hands will be more strongly forti-
fed"
Pioneer Life policyhoiders viii now
have over four millions OF dollars to
protect them instead OF less than one
million as heretofore.
The combined companies will oper-
ate In Pennsylvania, Ohio, MICHIGAN.
Indiana, Illinois, Minnesota, North
Dakota, South Dakota, Montana, Ida
no ana Utah. Last year they increased
their insurance In force over 10000
600 and now have over 80 million
dollars OF insurance in force. over 4
million dollars Of assets and almost
100000 OF surplus 10 poIicyholders,
Thus. when the merger is erected,
this Will be the largest company in
this part Of the northwest.
In speaking Of the merger, Geo. III.
Holister. treasurer OF the Pioneer
Life, said:
Il went into the Pioneer Life or
sanization in January, 1909. at the re-
quest OF some OF the larger stoclkhold-
ers, to remain until a definite plan
could be outlined: later / acquired
some considerable interest In the
company. My connection was always
somewhat Of side issue, and for
long time wo have been seeking able
company. believe we have found
such in Mr.. Hall and Mr.. Ninde and
am sure the interests OF ali will be
lnteiligently and prohtably handled
by them and that the institution viii
become better and stronger for the
change"