54 HARDWOODREC ORD 



WHY? 



WHY do more than 380 of the most prominent and successful lumber manufac- 

 turers exchange nearly $30,000,000.00 of indemnity against fire loss at 



Manufacturing 

 Lumbermen's 

 Underwriters 



BECAUSE! 



BECAUSE it is the oldest and strongest inter-insurance association among lumber- 

 men, being now in its fifteenth year, 



BECAUSE $978,432.40 cash savings have been returned to members. 

 BECAUSE $856,831.32 cash surplus, owned entirely by the members, has been accu- 

 mulated, 



BECAUSE $2,443,029.00 has been paid in losses under prompt and equitable adjust- 

 ments without resort to quibbling or technical controversy. 



BECAUSE it was the first to settle lumb er losses on a market value basis. 



BECAUSE the regular, frequent and thorough inspections given the plants of all 

 members help them to prevent fires, thus materially reducing both the 

 fire waste and the cost of indemnity. 



FOR FULL PARTICULARS ADDRESS 



Western Representative Rankm-Bciicdicl UndeFwrifing Co. 



HARRY B. CLARK, Attorney in Fact. 



Portland. Ore. KANSAS CITY, MO. 



