The Daily state journal. [volume] (Alexandria, Va.) 1868-1874, 1871-04-01
Piedmont and Arlington Life Insu-
rance Company, Richmond, Va.

Tt is with pleasure that we see such evi
dence of the success of any Southern en-
terprise as is contained in the subioinet
extract from the Philadelphia Underaorites
Commentator was least to be expected
from such source, and hence is the NOR,
flattering:
This company, being the first Southern cor
poration to enter the Eastern portals of insu
rance, has naturally attracted our attention in
locating general agency for Pennsylvania, al
Philadelphia. 1t is also about to knock at the
doors of the New York and Massachusetts, de-
partments, through which it can have no
difficulty in passing, so far as its character for
honesty of purpose and condition for soundness
and reliability are concerned. In fact, the un.
exampled prosperity of the Piedmont and Ar
lington, from its youth and quiet workings,
must cause astonishment 10 the minds of those
who have hitherto thought there was no in
surance vitality in the South.
Our doctrine, SO frequently preached, that
all sections should stand by their own solvent
companies first, in preference to foreign cities
is fully exemplified by this company, and we
are glad to note the fact as reminder to other
localities, for IT is a recognized principle in
business that, to be successful abroad, charac.
ter and confidence should first be obtained at
home. This company has attained said posi-
tion of eminence, as it comes eastward with
the remarkable growth of double the business
OF other companies of four years old, both in
number Of policies and amount of risks. 1t
has issued over l3 500 policies, and its annual
income Is ST. 500, 900.
The ratio of expense to income is Is SO less
than half the average expense of some thirty
companies of same age, or one hundred per
cent less.
,I ~, ot:k H. HI I,,.o h..
six per cent less in number as to average losses
of other companies this, too, in face of the
fact of 10000 from accidents by falling in of
the Capitol at Richmond, and other special ac-
cidents.
The company is now upon the all cash plan,
which it adopted some months since.
Over 100000 of expenses are cleared off
for accidental losses, retired capital (33 952,
and special expenditures which cannot exis I
again.
There is divisable surplus of:thirteen per
cent. larger than the divisable surplus of most
companies. The dividends are now to be de-
creased in order to reach and attain four per
cent. basis as soon as possible. and larger
surplus in the future.
A. to strength, the Piedmont and Arline- |
tom has ST., "a assets to 81 of liabilities as ap
piled to policy holders, or Sl.l4 to stockhold-
ers, an average of 10 per cent. more than the
relative number Of other companies.
The total outgo to total income is % per
cent, an average of to l5 per cent. less than
many leading companies.
The annual statement of this company for
1870 is before us, yet we have written from
more thorough and detailed investigation of
the company's affairs than set forth therein:-
We desired to know whether any Southern life
could be recommended by US to the
public and as this company has had the cour
lge to be the pioneer in the movement to the
lands of criticism and prejudice" we are
rec to say that when others from that section
,ome in the same condition as The "Piedmont
md Arlington" they shall have our counte-
'ance, because they merit not only it, but that
If the public.
The early staunch condition of this company
the TACT that the President, W. @.
Earring ton Vice-President, John E. Edwards;
secretary, Daniel J. lartsook Actuary, Pro-
essor Edward b. Smith, and Cashier, Is. q. |
Iartsook, are all thoroughly skilled in the
cience of life insurance, and we may add that !
be directors comprise prominent and esteemed
itzens of RiehmnLd. several of whom are
lost favorably know q aud wide.
This company has passed the inspection of