Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1877-09-13
.sIaas ils PpGsIbIlI4 FI3.'.sE 10
A corporafIon IN ffs ypnAftion ex-

|eiade the possibiIity ef slisssses 10
a corporation III its position ! ex-
cept through gross and long con.
tinued acknowledgements thing
too foreign to the ira5itiuns ef the
campany to be considered iDr u
moment. In this regard il is e.
Enough to say that President Good.
Twin who has flied that Office dur.
Iing almost the entire life Of the
corpofation, bids fair to give it
the benefit Of his wisdom aud ex.
perience for many a year to come;
as does also Secretary Jacob L.
Greene, under whose six years OF
tdirect personal management some
eighteen millions have been add.
Ell to the company's assets despite
the universal depression of more
than half that period. =
In the two grand divisions Of
1
life insui ance we see by The above
examples that the bottom has not
fallen out, nor any thing like II;
Ibnt there is a third variety, of
growing claims and impOrtance,
Represented by the casualty com.
lpanies. Casualty insurance is the
Latest development oi nndsrwrit-
I Ing aud was introduced lintosthis
Ecouatry about a dozen years ago
by James G. Bitterson, the pres
ent president OF the Travellers.
which I presume is pretty well
known to all of your readers who
have seen inside a railroad depot
any time within Eve years; aud
the way be started it is well worth
telling. 1t was early in 1861
shortly before the Incorporation
Hof the Travellers, that Mr.. Patterson
was approached on the street one
day by an intimate friend, who
jocosely asked him how much be
would take to insure him for S..
900 against accident during his
trip home, a distance of about
half a mile 1.-Two cents, prompt
'ly replied PATTERSON. "D1ne."
said the equally laconic applicant
for insurance, forking ever the
required premium and thus was
perfected the irst accident policy
ever given in the United States.
Luckily for Mr.. Patterson, there
was ''no loss,Y and the premium
was clear profit. Those two iden-
tical coppers are now framed and
hpHg up in the home office Of the
Travellers. a -
One month more after this IN
cident, the latter was opened for E.
business and from the start had
such a success that within eigh.
teen months it had written eighty.
five millions of insurance at profit
able rates. This success proved a
great stimulus to competitiony 50
that before couple of years were
over, eleven other accident com,
panles were in existence. But
d .
the start and the superior man
agement of the Travellers proved
too much for its iinitators, and
before long the former again found
itself master of its peculiar field,-
IN which position it remains at
this writing, possessing, after hay.
ing paid two and three fourth NH
lion Of accident losses, snug
four millions of irreproachabie as.
sets and surplus, by the Mas
sacnusetts standard OF reserve, the
severest of ali, of Sl,172,000.
Notwithstanding the financial
pressure, the Traveller has In
creased the amount Of its acci-
dsnt business, every month this
year, over the corresponding
months of last year. 1t is not
limited to accidents Of travel, as
nl'ny sippose, bnt COVERS all sorts
OF casullties to the person, IN all
lnwiul callings and pursuits The
Travellers also does handsome
lie business, in which it is we'll
holding Its own against the bur-
den OF the times aud the current
Of popular distrust of life insu.
rance. ~ RADIx.