The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-08-21
SOUTHERN LIFE. INSURANCE. COM
P1NY. \.
Letter from Genera, J. b. Gordon.
From the Atlanta Constitution. I

From the Atlanta ConAtiiution-l
To the Editor Of Re Consolation: You have
generously rendered the use Of your columns,
that I may reply TO a malicious attack, made
by the Insurance Times, OF New York, upon
an institution with which many honorable
gentlemen in this and other Southern States
are connected.
Until suggested by friends not connected
with the Southern Life Insurance Company
the institution aesailed-I had not thought
it necessary to reply, and for the following
reasons: -. i'd',- -
Frat. All the agents OF the Southern Life
had been directed to use the article in question
ss the best canvass ng document with which
In the next place, had supposed that a
journal which had no regard fo1 truth, and the
endorsement of which is Q matter OF mere bnr-
sS It's sttssss' ' % sSsf The M% M% one realized, viz % ihe
strengthening OF the "Southern Life.n
I had supp5sed.tha no Southern man could
be influenced by the statements Of e journal
mer card, ,,atweIve wilful, unmitigated false-
hoods, in the short space OF sixteen lines. :,
In the next place. It had occurred TO: me.
pasen sas hs hsaea Of ssutSern
his contemplate thrust st the incapacity Of
the Southern people to- manage life insurance,
his meek suggestions IN another article Of the
same paper, that all southern and Western
companies give up the business OF Iife insur-
ance ~ the North; and his complaint Of our
clanlshness, because. forsooth, We presumed
to retain Southern money in Southern States,
Southern man.
For these reasons thought it unnecessary
to write. At the suggestion OF friends, how.
The Times evidences its ignorance-of facts.
or it's total disregard OF truth, or both, by it's
reference to General Gordon F. Granger as
well 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 have been heavy, and -c6mpares 1t with
eertain picked companies from the North.
The losses have been heavy, but the busi-
ness has been heavy too If b merchant does
one million Of profitable business, does he not
expect greiter loss in bad debts, &C., than
another who does ohe-tenth Of the business2
If Llfo Company iinspres 5000 lives, must it
not have, OF Necessity. g larger number OF its
liveep ag1 II x
The Southern Life lost more than it's picked
company-the Great WeaternGbut It did vast
ly more business. Why did not tho editor OF
the Times give the amount OF the business
done by each, the amount OF loss by zach, and
then draw the comparison Does not the
merest child in figures understand this to be
the only way to get at the ratio of loss Yes;
but it did not snit the purpose Of the Times..
Let the facts be known. :, rn
This picked company is shown by the New
York reports Of 1868 to have received 500 247.
and to have paid ont the same year in , Gosh,
$68 AT Thus expending absolutely over 5000
more than It received. While the Atlanta De-
partment on gross premiums to the amount OF
ofevery description only SO per cent. OF it's re-
ceipts, and the whole company increased It's
assets--in six po4ths-oyer size, 200, Besides,
the TlmosEndws, as every insurance. man does,
that lossesr a99ali4e themselves ~, the course
IN attf Inv 10
served. This il sbos icundaiion 81 al lie LIE
tables.iPA As uiustr alive OF this, thesAtanta De-
partment, an Its immense busipess, receiving
nearly one thoussdd appltcattops, has sustain;
ed but one lossE Amos +. WatdE7for $40, 900 !.
since it's .orRapizatlon, and the Other depart
ments losing IN blt little gEepter satio, Hspee,
tion. Of, the T%es. the Southern Life is nm
Why so ,sI.aa 80, :, ,
The animus OF the Or rtlcle furnishes the solu!
ton. The one is Solth the othef Nor ther9.
q - fCrrs