The Camden journal. [volume] (Camden, S.C.) 1866-1891, 1869-09-02
THE SOUTHERN
Life Insurance Company.
LETTER OF GEN. J. B. GORDON.

Editor Atlantd ConstituttonS ou have
generously rendered the use Of your col
pmps, that L may reply to malicious
attack, made by the Insurance Times, e'
New York, upon an Institution, with
which many honorable gentlemen, in
this and other Southern States, are con
ncctcd.
Until suggested by friends not con
pected with the Southern Life Insu,
rance Company-the institution assail'
ed had not thought it necessary to
reply, and for the following reasons:
First: All the agents of the South.
ern Life had been directed to use the
article in question as tn best canvassing
document with which they be armed.
In the hext place, l had supposed
that Journal which had no regard for
truth, and the endorsement of which is
a matter of mere bargain and sale,
would produce no other effect than the
one realized, viz: the strengthening of
the "Southern Life"
I had supposed that no Southern
, man could be influenced by the state
'ments of journal which had published,
as l had shown in a former card, twelve
wilfpl, unmitigated falsehoods, in the
short space of sixteen lines.
In the next place, it had occurred to
me, that the very animus of this editor,
which is so pateut, his hatred of every
thing Southern, his contemplate thrust
at the incapacity of the Southern people
to manage Life Insurance, his meek
suggestions in another article Of the
ssame paper, that all Southern and West
'ern companies give up the business Of
Insurance to the North, and his com
plant of our clauishncss, because, for
sooth, we presumed to retain Southern
money in Southern States, would have
been sufficient answer for every South
ern man.
For these reasons I had thought it
unnecessary to write. At the sugees-
ttion offriends, however, | reply briefly.
The Times evidences its Ignorance of
facts, oriiss total disregard of truth, or
both, by its reference to General Gordon
f. Stranger has not now, nor ever had,
any connection whatever with this COM
pany.
Thes Tines says the losses Of the
Southern Life have been heavy, aud
compares il with certain picked compa-
mics from the North.
The ,losses have been heavy, but the
business has Abesn heavy too. Ifa rner-
chant does. one million IF profitable
business does he not expect greater
loss in bad debts, etc., than another
wio does one:tenth Of he'business? If
a Life Company insures 5000 lives,
muss it not have, of necessity, larger
nurhber of its insured die, than another
which insures only 50Olive
The Southern Life lost more than its
picked company-the Great Western
but it did vast more business. Why
did not the editor of the Times give the
P.amount of loss by each, and then draw
the comparison? Does not the mcrest
child in figures understand thia to be
the ouly way 20 get at the ratio of loss !?
Yes; but it did not suit the purpose of
the Times. Let the facts be known.
This picked company.is shown by the
New York reports Of 1868, to have re-
-ceived $50. 257, and to have paid out
the same year in cash, s63.4l7 Thus
-expendiug absolutely over 5000 more
than it received. While the Atlanta
Department on gross premiums to the
amount of nearly 100000, spent in
gossesand expenses of every description,
only y59 per cent, fits receipts, aud the
whole company increased it assets-in
six months-over $l26,OOO. Besides,
the Times knows, as every insurance
man does, that losses equalize themselves
in the course of fyears-so that the gene.
raj average is preserved. This is the
foundation of all life tables. As illus
trative of this the Atlanta Department
in its immense business, receiving
nearly 1000 applications has sustained
but one loss-Amos E. Ward, for SO,
O00-since its organization, and the
other departments losing in but little