"This is our Reserve Strength Against Extraordinary Los,s"

Realizing the importance of financial reserve strength to meet the extraordinary losses of confagrations, the Associated Lumber Mutuals have consistently built up a protective surplus;

This surplus belongs to our policy-holders, but isheld in trust. Assuring paymentof even excessive losses, it is also a protection against agsessment.

This surplus therefore is a vital factor, both in the qualityof the protection provided and in the net cost atwhich it is supplied.

Lumber Mutual insurance was developed by lumbermen to provide better protection for the lumber industry. Quality assured, our dividends reduce your cost by over 40%.

For further information as to why Lumber Mutual policies offer greatest insurance value for you, write any of our comPanies.