Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1871-04-02
HERZOGS,
No. 2g4 Main street.
For Clothing and Underwear, 90 to
WALKER BROS,
PROVISIONS THAT ONE SHOULD MAX E
BEFORE UNDERTAKING A JOURNEY
TO TEXAS.

"GOOd morning, Mr.. Oxford; I havs heard
that you are about to start to Texas. Do
you not think it a tit occasion 10 secure
your family against all possibilities, by
taking out an insurance on your life?"
How are you, Mr.. DrummOnd? will
answer your question by asking another.
If i incur any extra risks, by i~Ourneying
overland to Texas, how is it that your
Life insurance Company can be anxious
to incur the chance Of paying for such
risk, if it. is a prudent, safe institution? p"
And l will answer you. Will you tell
me how many persons there are who 20
on long journeys that return safely? and
yet do you not observe that occasionally
n meets with an ~aCcidant2 It's the very
large number who return safely that sna-
bic the companies 10 take the risk and
make a pr0ht. And it is the occasional
casualty that makes us realibe the imDOr-
lance of having an absolute certainty Tor
ones family"
IAN GbSOIIte certainty, Mr.. Drumm0nd9
You do not assume u such absurlitv As
this with regard TO Life Insurance? Have
you not heard that even the companies
sometimes fail2 / believe that there has
been some such failure very recently"
eyes, that is true, MIR. Oxford, and so
the bank in which you deposit yOur
money for safe keeping, mag fail, if you
are not particular to select a sound insti-
tuition"
And how are you to do this, Mr.. Drum
mond7"
"WeI, I will tell you how
81 should like to hear your statement.
Mr.. DrummOnd, for ] must confess that
my lack of faith in the companies has q
decided influence on my action in the
matter of insurance"
Nothing will give me more pleasure. !
Mr.. Oxford. I will AXE the Insurance. /
Companies OF the State Of New York as
an example by which to illustrate their
comparative -sOundness. These New
York companies are all undsr the imme-
date and direct supervision of the Insur-
arce Department of the State govern
msnt. This Insurance Department is
created by law, and is controlled by q
Supervisor or Superintendent, who is Sc
lected for his knowledge of the business
and for his integrity. Upon the develop
ment, by any company, of any weakness
in assets, without q moments delay this
Superintendent walks into the C0mpany's
office, throws open every vault, examines
the books, inspeCts the securities, calls in
witnesses, and thoroughly Overhsuls the
business of the concern, and if he
finds il too weak to stand, he takes the re-
manning assets and ~re-insures all the poll
icV-hoiders in a better and stronger com
psny. This he has a right to do st any
time that he justly suspects either fraud
or weak management. He not only has q
right to do 1t, but it is his sworn duty 90
exercise the utmost vigilance and activity
in developing this weakness and protect
the interests of the assured"
"But, Mr.. DrummOnd, suDpOs this Su-
p-erintendent should be too late TO 6nd
assets enough to re insure the policy
holders, how are you to mend this mat
terri" I
''Mr Oxford, fortunately the laws of ]
New York have a wise provision for the
absolute security Of policy-hoiders. 1t is z
rue, 1 see but little danger either of fraud {
Dr. weakness in the New York companies, ]
are in competent hands, under the
searching provisions of their insurance
But still l must confess there is
tome danger; and that danger has been
thoroughly PT0Vided against 6y the regis
system "
"Certain Companies have Incorporated
n their charters that any policy holder,
Who's so elects, may register his policy with
Insurance Department of the State, .
nd when this Is done, the Company is =
equired to deposit annually with the
superintendent such q reserve, in Te0is
cred United States bands, 81 will secure
he policy so registered against any delin-
uiney Of The companies, Should other
ssetB fail, there is kept always on hand. n
q the vaults of the State, a su6icienev to a
g. insure the policy. These registered n
Onds cannot be- used for any other pur-
ose, and even If stolen can be of no use
the thief, as they are registered so that IN
hey can only be applied TO tho purpose to at
'hich they are dedicated. What do Won
link of this for security, Mr.. Orford?3
"Well, 1 must acknowledge, Mr.. Drum
IOnd, that nothing less than bankruptcy
9TH of theState government, which keens W
10 reserve, and Of the Federal Govern
ent, which furnishes the registered
)nds, could deprive the assured of bis
But whore Is there such a on
as the one you refer tor Is an
ere any agent representing such an in
in Memphis2"
Yes, sir, I have the honor to represent Br
st such q company, whose President is
my Freeman, n of the oldest and P
ost trusted Life Insurance Presidents -,
the United States. Fl. T. TOmlinson & u
are the managers Of the Southwestern
3psrtment, with headquarters at Mem
Us. IL is the GLOBE MUTUAL LIFE IN
RANCE COMPANY Of the city OF New
]