The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-02-04
THE SOUTHERN LIFE INSURANCE
COMPANY.
Some Plain Facts for the People,

The Courier, of yesterday, contained very
admirable and well-timed communication,
signed B, in which the comparative business
of old and new life insurance companies Is
set forth: the parallel, however, was run be.
tween Northern companies alone. The under.
signed deem this favorable opportunity to
make public the claims of purely Southern
institution, and ask for the statement the at.
tentive consideration of thinking men.
The Southern Life Insurance Company needs
but an exhibit of Its progress and policy to
recommend it to the people of this section,
for whose benefit it was formed. We have
grouped the leading features under appropri-
ate heads, and challengeden from any and
every quarter:
I. This company has now nearly $l, 200, 900
in assets, and It's proportion OF assets to La
bilities (the true test Of strength) is nearly
| three to one.
II. It has lust paid a tlcidesd Of eighteen to
t,oersy per cent. on cash policies which have
been running for one year.
TII. The amount OF dividends paid TO its
stockholders annually, Will not equal the sal
ary paid to the president OF one OF the largest
Northern mutual companies.
Nv The capital stock of s940, 900 is fully
Maid up. This capital stock was necessary at
the start, since nearly every State requires o
deposit. This stock can be retired at will.
y, The capital stock Of this company is A
No. /. Offers 10 loan money on this stock as
collateral have been recently made to parties
holding it, by prominent banking houses in
New York, at the same per cent. dnd on the
same 1ndrgin as United States Bonds.
WI. The earnings of this company are in
vested in the Southern States. As all, or nearly
ali, Northern companies operating In this sec
tior1 make no investment here, and asmany
Northern companies will. not even operate
when deposit is required BY Southern States
| laws, this Is an important Item for considera-
much to build up strangers, finally to become
the victims of ingratitule, arrogance and rapa-
| city.
l. VII This company pays Its agents less per
| cent, than any company doing business In The
| South, while Its agents ore just as efficient.
It's ecohomy in every administrative depart
ment is unsurpassed.
office men combined do ,tet amount to sl2, 900
per d1lraitn.
TX. The interest upon premium money alone
| has nearly paid its entire losses during the
last twelve months, clearly demonstrating the
extreme of caution in selecting ''rsks.'
\. It's moneys are Invested by men who
rank among The ablest, financially, in the
South, and no money is loaned except on
Qpbrored cotldteralS.
XI. The expense of running the company
will compare faverably with that Of any other
company, which shows so large an increase OF
new business In proportion to the old.
XII. Mr.. Fackler, acknowledged as the most
eminent actuary In the United States, has
declared that ..tbe reserue of the Southern
Life Insurance Company IS ample and suti-
cient, and in proportion to Its liabilities, equal
to any company doing business.
XIII: This company Is conducted on what
is known in insurance circles as 'fhe mixed
pIan.r We1uote as follows from a volume In
our possession comparing and describing the
system OF 'smixed and mutual Insurance.
"AIiXcd companies are those which divide
the largest portion Of the surplus premiums
among the pollcy-holders, and only allow
stockholders small per cent. in consideration
OF their furnishing the capital for the greater
security of the pOlicy-holder.
1.-THE mixed plan of life assurance not only
offers every security to the assuring public,
but any villany in the formation OF company
under its auspices Is more easily detected
than under The mutual scheme. It is most
consistent with common justice, because.
whilst shareholders are rightly remunerated
for their advance OF capital us security, policy
holders share in the profits OF The concern as
The filling reward of their support OF that
security, and thus each rewards the other on
mutual terms.
s.Mlxcd companies have done more to popu-
larize life assurance than all other causes unit
ed. They combine security OF performance
with liberalty of rates, and have given to their
polcy.hoders equal advantages with any mu-
lllal company in existence, with the additional
security Of a guaranteed capital.
"'The chief reason which has enabled the
mixed offices to compete with the mutual ones
in business and general llberality OF features,
may be traced 10 the circumstance that the for
mcr are enabled at each division Of profits 10
distribute larger proportion OF the ascertain,
ed surplus amongst the assured than mutual
Office even can with safety-havlnS their pro-
prietary capital to fall back upon."
XIV. The cash value and the accumulation
on the policies are non-ior(eitable by an expo
sure OF the Insured life, In violation of the
conditions OF the policy. AH our policies
haze q yfred surrender uat,te IN cash, and are
negotiable according to the laws OF the difler-
enG States for such contracts.
Upon these deliberate statements we might
safely rest our cause, patiently awaiting refill
tation Gf such be possible,) in the same open
manner that we here challenge 1t.
But 1t has come within our knowledge that
insinuatlons most disparaging to Southern
companies have been made, and II the contest
ready for it, 1t Is the misfortune OF many
Southern people that they lend too willing aa
ear to certain persons who seem 10 make it
the duty of their lives TO assert that nothing
Southern can possibly be solvent. This, in
deed, Is q discouraglng trais, butno we hope,
q desperate one. How can Southern men,
who are SO sensitive on all other points, forget
that thousands Of their people suffered aohote-
sale robbery from life Insurance companies at
the North i?
Hear. IT you will not otherwise believe, the
following, quoted from Massachusetts Reports
for the years Of 1864 and 1865, page 234:
"Among the blessings which OUR rebelliouS
masters threw away, because more than their
equal share of liberty o1aS not good enough TOR
them, was a pretty large interest In Our North
ern mutual life companies; they have none OF
their own. Our companies 1oere no losers by
this; on the other hand, not few Of them
profted BY the forfeiture Of Southern policies
to-an amount far greater than sufficient to COuer
the subsequent 1oar risks Of their members"
Generals Toombs and Wade Hampton struck
The right kew In the face OF such reports as this
when the one connseled the people of the
South to "lnsure in company whose direct
ors are knolon to then, and of the highest in
tenTity," and the other declared that "n0
Southern man should send his money out OF the
South for life Insurance a0heR Southern COM
panleS, in ererg respect reliable, are seeking
patronage among as"
We cannot better conclude this heightened
communication than by quoting from the elo-
Quent address of DR.. William II. Tut, dis
lingushed citizen Of Augusta, Gu. During
the recent fair, before the agricultural con-