The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1869-08-10

N |. -
.ern Life is bankrupt, and his ooupanies
perfectly sound. How soY Again, les
e1s IS sna.
The gisE ofs the conttpyafsys is this-y
Iwhether officers of >Sonthesii compahies
swear falsely, and tafficeis 5f Nor thsrn
COMPANIES tr1thfully. Whath hex lie gem
tlemen whose reputatiuhs afe identffied
with this institution are to be believed,
or. the Times. Or, IL outside Testimony
is preferred, the Tinses or tie Southern
press. 49,, -,l
The Times says the Southern Life is
"totally .unsound.
The Memphis Appeal says: "Its assets
arc now over S5O0,00O. #* n It
deserves the patronage of the Southern
people, and its business shows that it is
getting it," .as.t Z
The Memphis AoaldncAe is equally
strong in its endorsement
The Atlanta InteHigencer says: "This
company, we do not hesitate to say, is
one of the most reliable as we'll as sue
cessful in not only the South, but in the
whole country"
The Constitution says: ''By its relia-
billy, liberal features, and it's patriotic
object, 1t is achieving a success unpa-
ralleled in the annals of life insurance.
The Louisville Courier says: "With
ample capital and large swplus, it at once
guarantees to policy holders perfect Sc
curity," and urges Southern people to
patronize it, because itretains the money
at home.
I might fill whole columns with ex-
tracts from leading journals in South Co.
rolina and elsewhere, but these may an
swer for an Offset for ...he ITmes-possi-
bly,.
The Times, however, charges that we
pay for these puffs! But is the Times
paid for its puffs? Oh, no. These Jour-
nails can be bought; the Times cannot.
How is this? Plainly the answer must
be-these are Southern. that Northern.
But L deny that one cent wasiever paid
for any endorsements have quoted. I
did pay some of the Southern papers to
insert former card in reference to this
same card, others would receive nothing.
propose to continue to pay to get these
facts before the people. The Southern
Life is able to pay: it will make money
by spreading them before the country,
and it will continue to do it.
The Times will find, imagine, that it
has undertaken difficult task, in trying
to teach the people of these States, that
there are not brains or integrity enough
in the South to manage life insurance;
that the officers of this company. at Mem
phis, have sworn falsely; men, whose
high and responsible positions as railroad
and bank presidents, indicated the un-
limited confidence of the country in their
common sense, integrity and financial
ability. 1t will not be easy to convince
the South that the long list of Southern
gentlemen, connected with this institu-
ton. are engaged in o grand scheme to
defraud and swindle the widows and or
phans of the South; or that they will
settle less fairly with policy holders than
companies from the Times section
some of whom boast of accumulated mil
lions by the forfeiture of rebel policies
who have one price for the North, an-
other for the South, and who have en-
deavored to purchase the policies of rebel
widows for a contemplate pittance of
the sum insured. He mistakes the
Southern people when he supposes them
so ignorant of life insurance, as to be-
lieve O company from the North, with
less than $3.50 of assets to 800 Of liabili-
ty is stronger and safer than Southern
company, which has $500 for every 500
of liability. Or when he imngines the
South SO North struck as to believe, be-
cause company halls from that section,
it can pay its president, as salary,
S25. 900 of the policy holaers' money,
and another cGers agents forty five per
cent. commissions, and yet be more eco
nomically and better managed than a
Southern company which pays its presi-
dent-who in financial ability is the peer
of any--only $4,000, and it's best agents
less than one-half of the above commits
sions; or that company from the North,
which pays fifty to fifty-seven per cent.
to its stockholders, is better for the in
sured than the Southern Life, which not
withstanding its rapid accumulations,
has not paid one dollar to its stockhold-
ers, but has paid forty per cent. to its
policy holders. e.'s
The Times began the war upon South
ern institutions, and strikes the Southern
Life only because it is the pioneer. The
success of this company has checked the
drain of money from our section, hence
the Times complaint of our sectionalism.
We make our humble Acknowledgements
Of being intensely sectional, if an honest
effort to retain Southern money at home
be sectional.