Splendid Evidence of Polish Energy Polish Fire Insurance Company Is Developing Brilliantly (Reprint from Dziennik Narodowy, May 16, 1918).
Narod Polski, July 17, 1918
If anyone reproaches the Poles by saying that they are romantic, sentimental, not capable of sober thinking, calculating, he is wrong and let the brilliantly developing Polish fire insurance company, called Great Lakes Insurance Company, serve to him as proof. This company is conducted in a real business way, according to the newest systems, in a commendable well-ordered manner. Offices, which the company first occupied in a building on Monroe Street, were found to be too small. On this account they were moved to the gigantic Insurance Building, where all the largest firms of this kind in Chicago are located. In this building the Great Lakes Insurance Company occupies an entire wing on the ninth floor.
The business, conducted skillfully, dexterously, energetically, is 2producing unexpected results. The largest American firms in Chicago, like Swift, Morris, Thomas Wilson, Armour, Marshall Field, etc., have insured themselves against fire for gigantic sums in this Polish insurance company.
The present time is exceptionally beneficial for carrying on a fire insurance business. On account of the war the large European companies, German, Austrian, lost their right to conduct business here. Due to this, hundreds of thousands of fire insurance policies had to be turned over to American firms. These were so overburdened that new policies were being turned over to very many new insurance companies, the largest among them being the Great Lakes.
The Shares of the Company. The shares which the company is selling today for $25 each, are selling today at 100 per cent more than when they were $20 each. The management of the company likewise is of the opinion that the present price of the shares is too low and, according 3to the business that the company is doing, the price of the shares will soon have to be advanced to $30
The Great Lakes Insurance Company has already over 2,000 shareholders scattered all over America, and even in Canada.
It is generally known that the above mentioned firm has at its head people such as no other Polish interests in America can be proud of. The president of the firm is the universally known Mr. N. L. Piotrowski, the present president of the Polish Roman-Catholic Union, former attorney of the City of Chicago, an alderman and wealthy; the vice-president is our vigorous campaigner, Albert Wachowski, bank owner and founder of Polish loan companies; the secretary, Julius Smietanka, president of a bank in Town of Lake and government excise collector for Chicago, the cashier is the generally known and respected John F. Smulski, president of the Northwestern bank and former treasurer of the State of Illinois.
A business which has such men at its head, so wealthy, so well known 4to the Poles and repeated, must surely raise confidence in our people and have its general support.
It is known that there is no other business in America so great, which pays so well, that brings such great profits to its shareholders, as the fire insurance business. A man who bought a few years ago a share at $100 in the American Fire Insurance Company in Newark, N. J., has today in that company $5,000, from which he collects $600 interest annually. In other words, $100 placed in that company is bringing $600 annual interest.
Wanting to increase the company's business and spread it throughout all the states, the company has been lawfully authorized to increase its capital and surplus to $600,000.
At present the shares are being sold for $25.
5One should remember that it is best to buy shares when they are being sold by a company just starting in business, because later on one has to pay high prices, and quite often the shares cannot be bought at any price. The Great Lakes Company has issued its second and last series of shares, and just as soon as they are sold, no more will be issued.
Those who would like to place $100 or more in this institution, which will not only bring great profits in dividends, but whose share value will increase many times, should sign the coupon below and send it to our office or call in person.
Great Lakes Insurance Company
175 W. Jackson Blvd.
Chicago, Ill.
