The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1869-09-13

New LEE INSURANCE COMPANT.-HIs
Honor Judge Bramhall, Of the circuit su-
perior court of Richmond, on the 9Th Sep
tembcr granted charter of incorporation
for new life insurance association, under
the name and title of the Piedmont and ar
lingtOn Life Insurance Company. The
charter of this new company is large and
liberal in its provisions, embracing ecery
feature that is desirable in the present ad-
vanced stage of life insurance. The act o.
incorporation provides for the following Off
GERS named in the chartcr-viz., W. G. Car
rington, President John E. Edwards, Vice
President; D. J. IIartsook, Secretary; and
J. J. Hopkins, Assistant Secretary; who,
together with nine other gentlemen, named
in the charter, constitute the Board of Di-
rectors.
The name and title of this ne,o company,
combining as it does the names of two pO-
pular and widely known companies, sug-
gest at once that it is intended to take up
and combine IN one the results thus far at
taincd by the t'g0 companies, and hence
forward carry on the business Of both un-
der one organization.
The whole subject has been carefully
studied and well maturcd with just and
scrupulous regard to the rights, privileges,
and interests, of the present policy-holdcls
in the Arlington and the Piedmont ccmpa-
nies respectively. No right or privilege
Of any one concerned will be invaded or
hazardcd in the substitution Of the tT0
companies by the one. On the contrary,
the security Of existing policy-holders is
thereby strengthened and fortified. This
will appear i'll the light OF the following
considerations The two companies, each,
before surrendering their charters, viii re-
insure all their policy -holdcrs in the Picd-
mont and Arijngton Life Insurance Com
pdny, and DO whatever else is necessary and
proper to be done to secure and protect the
rights and immunities OF existing policy
holders in each Of the two companies. The
new company will then start upon its career
with 5000 policy holders, obtained in about
two years, covering risks Of about 225 ,000,-
900, uli1npnircd Jy the usua! lapse Of time
in the growth Of new company, thus pre-
seniing to the policy-holdcrs al tic profits
thus derived, and at the same time Offering
to new applicants greater advantages than
older companies can possibly DO, by rcasOn
OF their impaired risks, necessarily arising
from the time usually consumed in obtain
ing an equal humber Of policy-holdcrs.
The assets OF the new company will be about
81 800, ,00G; the whole number o. policy
holders 5000 The business of the one
company be conducted at less expense, OF
course, than has necessarily been expended
in conducting the business Of the two compa-
mics as heretofore existing. The Piedmont
d1d Ariingt0n, as one company, will occupy
the territory hitherto occupied and can
vasscd by the t.ro companies. There viii
he no collision between the agents, and the
whole field will be open TO the agencies Of
the new company, in which the work may
be done in harmony, and with greatly in
creased success and satisfaction. The COM
binaton, therefore, is wise, judicious, and
happily conceived, and will start the new
; company &frcsh upon lis work, fully
abreast with any Of the companies on this
continent. It viii have power and iniiu,
cncc that neither Of The companies, scpa.
rately, could have acquired in years, and
will present elements Of strength and Sc
entity which are usually the growth Of long
years Of toll and heavy expense. As such
the Piedmont and Artington Life InSu,
rance CCmpany has the highest claims upon
public patronage and confidence.