Wilmington journal., 1875-02-05

- ~ |>h0Aoh.
, j G Walker, Physician.
NJ NJ Katz, Merchant
p Heinsberger, Stationer.
l B Granger, President Bauk O
New Hanover.
DuBrutz Guitar, Attorney at Law.
Thos Ii Mckoy, Merchant.
S W Vlck, of VIck & Mebane.
r S Radcliffe. Builder.
ADDRESS.
WILMIGToN, \. G., Feb. 3. 1875
To the Citizens Of North CuroGsna.
The purpose of this address is to III.
vite your attention to t:ie recent OF.
ganlzation of the Wilmington Brarc:,
vi the Southern Life Insurance Com
pany aud the formation OF IA Board uf
Trustees.
Ia presenting its claims it ia not
deemed necessary to enter into al
elaborate argument upon the general
subject of Lie Insurance. Tue pro-
| priety OF every mans availing himse! {
| OF lts benefits are now SO uuiyei s;.ily
recognized by intelligent pcrsoUs th,tt
| such action would be -tpeI eIhnus. 1T
remains Tor US, then, "u.y to endeayur
to place before you such facts as VIII
| recommend this particular Company
to your patronage.
1t has been officially stated that
since the war about one hundred mil
nous of dollars have been taken from
the South for Life Insurance.. and that
annually from SIX to eight millions
more are paid by our sectio,. iOr the
same purpose. The dcsIrab.tness Of
retaining this euo rmous sum at home.
to be invested among our own people,
has long attracted Ehe attention OF the
thoughtful. Such a yearly accession
TO the capita! OF the Sonth would give
Il new impetus to O. piO4peiIty-
every department of industry would
feel its qulckening Influence, and
every community be benefited there
by. Nnlle these are patent truths,
however, 1t IS equally clear that a
Southern COmpany must base It's
claims, not upon the sentiment of sec.
tlonaI prid alone, (6holgh that may
honestly be appealed to, other things
being equal,) but upon the plain bus
ness principles OF security to policy
holders combined with economy OF
management.
The Southern Life Insurance Com
pany was organized nearly nine years
ago By some OF the best business men
OF the South. It has accumulated
assets to 81, 5OG, 900, and has paid lib-
eral dividends to policy holders. l.
was the first life Insurance company
organized III the South after the war
for the purpose of arres ing the draiu
II money from the Southern States
I'd
the Standard upon which the official
reports of all the companies in the
United States is based, it compares
fa7orably with the oldest and most
stable companies.
1t has now secured firm basis,
large Accommodations of good assets
safely invested, is managed with econ
Omy and Is rapidly extending it's OPP
erations and widely d,tfuslng its bene-
fits.
OF the sixty five American Life In
surauce Companies reported in Good
sells New York report for 1874. the
Southern Life Insurance Company ex-
GELS:
AZ as to gross amount of assets;
II as to lumber OF Policies issued;
AZ as to premium receipts;
~ as to total income;
40 as to ecouomy of management;
3J as to whole amount insured;
53 as TO average Of each policy in
force; and, with one exception, it ex.
GELS all III Incl ease OF business.
1t will thus be seen that this Com
pauy has reached that condition which
renders its success beyond question,
aud that it furnishes ali the clements
of strength, stability and character,
and absolute solvency, to commend it
to the confidence of the people.
1t has made within the past year
large investments Of Teal estate n our
sister States, and is about to erect
handsome building III the city Of
Charlotte, III this State, and is under
obligations to invest it's reserve fund
in Wilmington. and as soon as the re-
ceipts will Justify.
1t is no part of it's programme, nor
is it necessary to its success, that it
should decry the security OF other
companies. But it claims 70 be Itself
secare, and it expects 70 succeed upon
the hasjs of the positive benefits which
t affords ID individuals and to com
munities, and by the proper manage
ment of its own business.
We, as a Beard, however, do not
consider it amiss to refer to the recent
action Of some of the large corpora
tions of the North towards a great
portion OF the Southern States, IDciu-
ling the entire eastern portion OF our
State.
Some of these companies have re-
moved their agencies altogether, whije
others have made not only n1arke
discrimination between Northern aud
Southern policy holders in the distrI
button Of profits. but have advanced
Southern rates SO upon the 81 900,
(an Increase OF fifty pr c>nt upon ttt'
average policy) They have thus al
tempted to mislepresent the sanitary
condit on of many of the fairest ror-
tons of our land, and thereby endeav-
ored to check foreign i'm 10 grafton and
capital. SO essential to the resuscIta-
tion of the Sonth.
If the vast sums of money sent from
our midst were spent in sustaining
ourselves and building up our enter
prises and dive rsifying our pursuits,
we should hear less complaint OF hard
times, of tie scarcity OF money. and
the weakness and insecurity of our
own companies.
The proposition that is - important
to the people of the Southern States
Impoverished as they have been since
the war; TO retain all the money which
it is possible to invest safely and prof
itably among themselves, IS too self
evident to need argument.
We have joined this enterprise, be-
lieving that it will supply one of the
many desired wants, tending to build
no an IMPOVERISHED country. We think
there is nothing small or great Gf it
advans es the interest of our State and
section) that we should not take hold