The Algona Upper Des Moines from Algona, Iowa on April 30, 1959 · Page 17
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The Algona Upper Des Moines from Algona, Iowa · Page 17

Algona, Iowa
Issue Date:
Thursday, April 30, 1959
Page 17
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Serves Ten S/ofes ; : J ^ i ! I The idea of an inwtitteti esifijUtvr if>a. clalitlnt in ttttfet fb dftSttSJi iMMeh* eoived by pioneer d*uggf*t Al Faiken» hulner in the badktoom of his lln? drug sior* in Tlidnka, Iowa. thai was more ihim SO yeats ft$6« today, fcrufglili Miiiual Iniutanee Co., with home offides in Alg&na, is ens oi the best-known mutual Insurant* oraaniia- lions M America, and terv« polieyholders in 10 states. The company was firsf chartered in 1309 to write insurance in Iowa* In 1919, a Wisconsin chatter was given, and following that expansion into other states was rapid, Minnesota was the* third state (1920), with charters for underwriting in Missouri. Illinois, Kansas arid Nebraska all being obtained in the twenties. Tho "latest states to* be served by Druggists Mutual are Colorado and the Dakotas. Map at left indicates years in which company began doing business in each of the ten states it now serves. Anniversary » ALGONA, IOWA, THURSDAY, APRIL 30, 1959 vat w ~ ISN& if .' .45 > 4 1* < V- '£? Druggists Mutual Now A ion or Company' * * * They're 'Fieldben' W. L. (?at) JENSEN ' H. T, BARKER Half Century Booklet Sent To 6,000 Policyholders •In observance of ihe company's half century mark, a special booklet is being issued by Druggists Mutual,to its policyholders in 10 sietes. In sixteen pages, the booklet Delates much of ihe history of ihe company, in addition io its annual report. ft « <i i c • * « \ ' Officers of Druggists Mutual Insurance Co. are: Robert W. Hatvcy, Board Chairman, Eugene Muriagh, President and Treasurer, A. H. Borchardi, Vice President, A. E. Thomas, Vice President, V. M. Parsons, Secretary, Theo. L.' Larson, Assistant Secretary. Directors end Advisory Board is composed of A. H. Borchardi, H. L. Gilmore, Robert W. Harvey, John N. Lynch, >Eugene Muriagh, V. M. Parsons and A. E. Thomas. * * * * * * Of interest to,, local residents are ihe four fieldmen of the company pictured at left. W. L. (Pat) Jensen, residing in Algona, serves the state of Nebraska for Druggists Mutual. H. T. Barker, a former drug siore owner here, is fieldman for , Colorado. Larry Higinbpiham and R. E. Sirickler, boih formerly Algona businessmenare also Druggists Mutual, fieldmen, tho former in North Dakota, ihe later in eastern Iowa. Other company fieldmen are S. E. Siruble, R.' J. Baker, and R. W. Gary. * * * * * « Since its foundation, over 20,000 insurance claims have been handled by Druggisis Mutual Insurance Co. One of the bywords of the company has been prompt and equitable claim seiilemenis, and this factor alone has been prominent in the company's growth. Major part of ihe company's insurance business is in Fire and extended coverage on building, siock and fixtures. Business Interruption, Premises Liability and other casualty ,insurance. EUGENE MURTAGH President LARRY HIGINBOTHAM R. E. STRICKLER IPIIIIIIIIIIIIIIIIIIIIII Thai's the unusual and seldom-duplicated record of Robert W. Harvey, board chairman of Druggists- Mutual, pictured at right in ihe act of filling 3. prescription in his drug store at Missouri Valley, Iowa. N Mr. Harvey is a past president of ihe, Iowa Pharmaceutical Ass n., and this year was named as association Honorary President. His son, G. Edward, is a partner in his drug siore. Since 1909, Mr. Harvey has misted only two meetings of the board of directors of Druggists Mutual. ROBERT W. HARVEY Assets Now Over One Million The chart above pictures tho constant growth of Druggists Mutual Insurance Co. since its beginning in 1909, and graphically illustrates its operation by ten year periods, In 1918, for instance, premiums paid by policyholders were less than $50,000, while in 1958 this same figure come to more than half a million. An interesting point to note on the chart is Ihoi in the 'depression years of ihe 30V premiums fell off' considerably, due to reduction of store inventories and other business factors. Yoi. assets continued their steady climb, increasing ihe overall strength of the company. Most spectacular is the increase in assets in 1958, as shown on the chart, io a point ovor one million dollars. Announcement Made In 50ih Annual Report Increase of total assets of.Druggists Mutual Insurance Co, here to 51,090,535.93 — over a million dollars for the firsf timfl In history — was made known this week with issuance of the company's 50th annual report/ covering operations for the year 1958. According to the report, company assets increased by $112,822.98 in the past year, and also for the first time premiums paid by policyholders Sopped the half million,dollar mark - totaling $508; 639.00. Druggists Mutual is one of the best* known insurance companies in its field, and is a member of both the American Mutual Insurance Alliance and the Fed* oration of Mutual Fire Insurance Companies. jV. M,/PARSONS "Secretary THEO. L. LARSON Asst. Secretary i? * * The combined insurance experience of the above pictured three officers of Druggists Mutual totals 104 years. Over *100,000 U! And Phone User Though its insurance underwriting bu'inecs is done in ten states, Drug- gisis Mutual annual payroll — totaling over $100,000 yearly — is largely spsnl fcr goods and services in Algona. The company is also a large user of Uncls Sam's services through the Algona post office, with an annual postage expenditure of around $3,000. Through ihe nature of its business, Druggists Mutual is also a largo telephone user, through ihe Algona phone office. The company has one of the best- equipped home^ offices for efficient processing of its insurance business. The second electric typewriter to be sold in Iowa was purchased by Druggists Mutual, and it became one of ihe first insurance offices in the state to have all iypisls equipped with electric typewriters. Algonans Staff Home Office Here Shown above are members of the Druggists Mutual home office staff here — all Algonans. They are left to right, R. D. Godfredsen, claims and accounting, Betty Johnson, Arnetta Sweet, Norma Bierle, Luanna Ditsworth, Jean Kuecker, Rosemary IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIHIIIIIIIIIIIIIII.IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIHIIIIIIIIIIIIII Dunn, Mary Arndorfer, and G. K. Schmidt, casualty insurance. Home office operations of Druggists. Mutual are carried on at the company's premises here at the corner of State and Moore streets, where a large building addition was erected in 1955. !t is with 'real pleasure and a strong feeling of 'hometown pride' that we at Druggists Mutual Insurance Company are enabled to present on this page items of interest in connection with our company's 50th Anniversary, We hope you will find it enjoyable to read. Our record of service to druggists and professional men. over the past fifty years is now 'history', and it is history we feel justifiably proud to relate to our policyholders. The company now turns to the next fifty years, with a pledge of continuance of the same high quality of insurance service, ' , We believe the traditions and experience acquired in our first fifty years will make our next $0 even better. ( rDftuggi8ts' Serving Policyholders In IOWA, WISCON SIN, MINNESOTA, MISSOMRI S L A , KANSAS, NEBRASKA, COLORADO, NORTH DAKOTA AND SO^TH'Pr "

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