The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1869-04-04

An impression has long been entertained by
many people that Southern bred men are unable
to conduct the financial affairs of corporations
and Joint stock companies 20 well as the men Of
the North.
We believe this was not just opinion. Before
the war Southern men were occupied by the
more attractive, copgenal and profitable enter
prses which their immense agricultural pros
periiy spread before them.
But Since our labor system has been taken from
Us we have been compelled to embark in the
sorts of business which heretofore were almost
peculiar to the North. And It ia gratifying to OBJ
serve that we are succeeding well as is attested
by the progress and success OF the insurance
companies which have been organized in every
Southern State since the war. We select as an
illustration the Piedmont Life Insurance Com
psny Of Richmond, Virginia. Every officer,
stock holder and director Of this company was
born In Virginia.
The company commenced work in October,
1867. Up to March 81, 1869, Seventh month";
Il issued over 1900 policies, received more than
half million $500. 00O) in premiums, and paid
six losses, aggregatipg $40 o00 In every instance
the Piedmont has waived its right to ninety days
grace upon paying less. and has paid over the
policies as soon as the facts of the death were
presented to the company.
Now let rs compare the progress and business
Of this Virginia company with those Of some Of the
undoubtedly best and strongest Northern compa-
Mes and the result will be to be such should
prove gratifying to our people and eminently
calculated to induce them hereafter to place
confidence in Southern corporations:
Piedmont. of Richmond. Virginia, first seven
teen. (l7) months Of work. 1900 policies and over
$500 900 in premiums.
The Mutual, OF New York. issued in Its four
teenth year COS policies, with income Of only
sss 500.
The Equitable, of New York, issued liz It's
second year 600 policies, with income of only
$4,000.
The North America, of New York, issued 10 its
second year lO40 policies, with income of only
sl25 ,OOO.
The KHickerboker of New York issued in its
second year 276 policies, with income of only
$50. l00.
year CSC policies, with income Of only 81 900.
The New York Life OF New York, issued in its
third year 796 policies, with income Of only
s7g.c0o.
The Guardian Of New York. issued In its fourth
yeor ooo pOlcies, WIN l1CoWe OF only $oi ,oUUs
The Manhattan of New York, Issued in It's ninth
year asa policies, with income Of only 1874 900.
EtDa of New York issued in its eleventh year
5ss policies. with income of only s7s 500.
We append and call attention to the following
letter:
DBERFIELD, VA, March 2, 1869.
Rev r. N. Peole General Travelling Agent for Piedmont
Life Insurance Company:
Dear Sri desire through you to express my
gratitude to the Piedmont for its kindness i1
paying, without delay, the life policy Of $4,000
Issued to my lamented husband, but few months
previous to bis death. for the benefit of my chill
dren. The promptness and fsir-desling of the
company you represent should commend 1t to the
people Of the South. sincerely trust that 1t may
continue to prosper, az feel ii ought to do. The
amount you have paid Is great relief to my faith
erless children in their days of adversely. Thank
ing you again, subscribe myself,
Respectfully yours,
G. e. MONTGOMERY.
See the advertisement of the Piedmont In our
paper. Gen. D. H. Maury, "a Union street, Is the
general agent for the Southwest.