The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-08-19
LIFE INsURIN6E COM:
st>'ti.P4NY. q" "i'
Letter from General il. b. Gordon.
{ diTrom tha htlnnt. consii,u,,on i

A
icJ.!l n-al- q. of .n!4 - ~ 20 !.
iFrom the Atlanta Constitution !. ,yt
To the Editor Of he Consultations: You have
generously tehdered the use 6f your columns,
that may reply to . malicious attack, made
by the Insurance Times. ot New York, upon
an institution with which many honorable
gentlemen innthis and other Southern States
are connected. .,l.o r,i ,,r..i fr,,o, -
Until suggested by friends not connected
with the Southern Lie Insurance Company
the institution sesailed-I had notthouRht
it necessary to reply, and tor the following
Eftst.. All The agents I.ot the Southern Lie
s as the best canvass ng document With which
...Ha In The next place. 7 had supposed that a
yourna, uu4u.irnau no regard Tor truth, and the
endorsement of which is matter Of mere bar
by it's attacks than the one realized, viz the
Strengthening OF the ''sou.sssrii Eu6.n
bad supposed that no Southern man could
be influenced BY the. statements Of . Journal
mer dard, Meve 'Niifai. anmitiSsted false. iS
hoods, n the short SPACE OF sixteen lines. m,
Iu the next place. it had occurred to me,
that the very anlmus Of this editor, which Is
his contemplate thrust at the inoapacity OF
the Southern people to manage life insurance,
his meek sug8estions in another article Of tho
companies give up the business Of life insur-
ance to the North, and his complaint OF our
elaniahpess, because, forsooth, We presumed
TO retain Southern money in Southern States.
Southern man. asin! -ssH n.- lH 2
For these reasons thought it unnecessary
to write. At the suggestion OF friends, how.
The Times evidences its ignorance OF hacts,
or its total Disregard OF truth, or both, BY it's
reference to General Gordon T. Granger as
agent for this company. It. is, however, as
we'll supported here as elsewhere in it's article.
General Granger has not now. nor never had,
any connection whatever with this company. /
The Times Says the losses Of the. southern;
Life 4aye been heavy, and compares it with
certain picked companies from the North. ~
The .lossea have been heavy, but the busi-
ness has been heavy too. II q merchant does
one million OF profitable business, does he not
sapsS: ssss Ss oss loss IN SS SsDs IT, SS ns
II Life Company insures 5000 lives, must it
not have, OF necessity, q larger number OF its
insured die, than another which lnsures 500
.-The Southern Life lost more than it's picked
compapy-the Great Western but 1t did vast.
-.y more tusiness, Why did not the editor Of
the Tines give the amount Of the business
done by each, the amount OF. loss by each, and
merest mere child in fgures understand ths to be be
the only way to get at the ratio OF loss Yes;
but it did not suit the purpose Of the Times.
OF the facts be known. .'sy
Tuis picked company is shown by the New
York reports Of 1858 to have received S6o,a47,
and to have paid out the same year in cash, ,
468 AZ. Thus extending absolutely over 5000
more than it received. While the Atlanta De-
partment on gross premiums to the amount OF
nearly $4,000, spent In losses and expenses
ofevery description only 80 per cent. OF it's re-
ceipts1 and the whole company Increased its
assetslLin six months-over $128. .000 Besides,
the Times knows, as every insurance man does,
that loBses equalze themselves IN the course
of years $50 that the general average Is pre-
served. This is the foundation Of all Life
tables. As illustrative OF this, the Atlanta De.
partment, in it's immense business. receiving
nearly one thousand applications, has sustain.
ed but one loss-Amos e. Ward-for SO, 600
since it's organization, and the other dep.rt-
me Ss.0y n the
tion Of the Times, the Southern Life is un.
sound. and the Great Western perfectly good
~" Tbe i animus Of the article furnishes the solu.
tion. The one ls Southorn-the other Northern
Again, this honest sheet, seeing the absurdi
~ OF it's position, seeks to stab the Sontherr
Lie by attacking the integrity Of its officers
up"-that is, Itf1ed up TO deoeire-not true. II
other words, the officers Of the company, ir
swearing to the statement Of assets and lia
biiities, swore falsely-.pcrjued themselves
officers OF his pet companies could "cook up
statements2 No. How is this? Again, tilt
animus OF his paper furnishes the reply. Ont
set of officers are. Eouthern--the other North
ern.
The Times says the Southern Life ],
one on the high road to bankruptcy, but III
pets are all sound. What do the figures show
That the Southerd Life has $500 for every $10t
ofliablity, while tho largest companies 10 the
North have less than $50 OF liability; yet, II
the estimation OF the Times, the Southern Late
is bankrupt, and his companies perfectly
sound. How 80 Again. lot the animus O
thai paper answer. The ono is Southern-thf
other Northern.
The gtst Of the Controversy is this-whethei
officers OF Southern companies swear falsely
and officers Of Northern companies truthfuliy
Whether the gentlemen whose regulations AZ
identified with this institution are to be be
lieved or the Times. Or, II outside teBtimo
ny is preferred, the Times, or the Southern
press. 80 Il - :! Z
The Times says the Bouthsrn Lilo is "iotsll.
Tne Memphis Appsalsays; 'Its esaefs ar.
now over $500, 900. a. 1t deserve,
the patronage Of the Southern people, and its
business showa that It is getting it.n "a
The Memphis Avalanche Is equally strouH II
Its enforcement.
Tho Atlanta IntelligenSei says: "This com
papy, We do not hesitate 70. say, Is one Of tkI
most reliable as we'll aa successful In not onl,
the south, but the whole, country i.p,',.,,
,,,Is., ThS Constitution Cs,u ssys By its Ee.tao
Of life insurEHce.S y S'I'->
The Louisville Courier says: ;s Wi.7s -a,np.,
capital and t1fpo stirf1tQa RI AZ oucA 0uars r.