Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-02-03
MONEY SHOULD BE KEPT A HOME
BowsBms NH no PROMOTE THE
FORMATION OF COMPANIES.


for Monday In The senate. and 1t VIII
be pleasure 10 good many people
to observe the action of that body
when called upon to wrestie with a
real business proposition
have not examined the present law
relating TO the organization OF insur-
ancc companies enough to know eN-
actly what changes the Bowser bill Is
intended to effect, and I am not, there
fore, prepared to go into a full AIS
cussion OF the relative merits of the
present ana proposed statutea. But th-
ken az an original proposition the
Bowser bill appears to me to be a
worthy measure, and one calculated to
provo OF great benefit To Texas
Viewed as measure for the en-
eouragement Of home enterprise 1t de-
serves the announcement and support
Of the legislature and of the people,
for It proposes 10 provide for the es-
tablIahment right here among US OF
those business enterprises which have
become at once a benefit and a ne
ocssity OF our commercial life.
1 shall not stop 10 discuss the merits
OF life insurauce--tht millions OF dol-
lars which the people of tais country
pay out annually In premiums shows
that It's merits need no ptooi-but shall
deal only with the necessity OF FORMING
companies Of our own In waieh 70
carry the policies taken out by our
own people.
Governor Hogg Ia his last message
called attention to the fact that the
people OF Texas are annually paying
out as premiums upon insurance poll
cies about ya,00100Q more than comes
back to them In the way OF losses
paid.
This ia not. OF course, all profit, for
q good deal Of the money collected ls
for new business. and upon this the
local agent receives n commission of
anywhere from 80 TO 60 per cent But
most OF II comes from the recurring
premiums upon old policies, Of which
the local agent gets none, ana the
proportion Of this nOn-commission
amount grows yearly larger and
larger.
suppose the amount OF clear money
carried out OF Texas each year was
81 500 600, and II not that much now II
soon VIII be. unless checked by the
organization Of home companies. The
amount OF actual cash money In Texas
~ said to be about {li,000.000 n this
be correct, and we could, or should,
by some means. prevent another dol
lar coming into tho state except 10 pay
life Insurance losses and another dol
lara roiuE out except to nay HE In
suranee premiums. IN less than twelve
yoars there would not be a dollar LETT
in rexns.
More IMAM one.twelfth of our whole
caah canitnl each wear goes TO nay pro-
NJ 10 mo insurance companies alone.
No wonder money gets soAroe-and
stnys senfce-ln Texas.
New " .rle ndopted the policy long
AGO of recurring the NE insurance
communities Organised under her laws
10 make an their Investments In real
estate within the borders OF that sthte.
They could loan money elsewhere. but
tbev could Inv no real property gave
Whatever was necessary for tho cree
lion OF oftlcc bnildinrs. This has kopt
n atendv qtrenm OF iu{crest money
having 10 New York each yeur 10 add
IA mo ocean of capital already making
in home there.
Let us sen:
T'hs spectator's Pocket Index. which
qlveH a lot OF facts about iife lnsur-
nnce. contains the names on No,y YorI,
| cnmn,nias and trcnts of thor bualuess
! IN isgg. rhe aggregate evcsss Of IN
come over dlsbursementa ion that wear
| fnr tbcae tyeIye cnfnpnniea WINS si4
| e67 ~; their receipts from other
I gouree, than premluna -mostiy inier-
] est.-were sgi oS6.ois Tho prors nasets
| III these twelve rompnnlea ngrrcpnt AZ
| sara bst iga-more thap I'd per eeni Of
mo total nseessn,ent OF au tho pron.rtv
In the state of Texas.
Ia II nny wonder that New York. do-
tho bnsiness under such a nn,try
phould have become the great money
center Of the eountrv when tbe wealth.
prodncInr scctions or tbe country ,u s'' are
| annually having her such tribute?
People In TaSna complain of taxes,
the pront they nav 10 mo cotnpnnies
cnrr5inn their Ne Insurance poI,olcs
would now almost nav Inc exnensns IN
| conducting mo STATE rovernment and
In M fow years al the INTO M witch
Inc nmnunt on thia mont ma beor
inrrengod woald mora thnn do A
As mn ovanpIe OF Inc posalblutio.
OF a life Insurance company as a gath.
crer Of cnpitai Inc proprcss Of IN,
Ennitnb,e az New yorl, ia narhnns IN,
most atrlltlnF
The EduitabIe was orennized In 1s5,
ma a ioint stuck concern. with nm AM
! thoriged capltal etock OF 500 OOo a
which. il n snid. moi ono dollar wa,
cver maid in. The president OF IN,
compnnv Is. so | am informed. paid I
sniarv of SD 900 Dor nnnum ana IN,
other oiiicers and dlreotorn nm nrrrN
ente of s75 900 more. mnidnr In al
m annual nnlnry list. NOT ea,,ntin,
necnts' com,niaslona or salnrIea "a
~, ana morn thon tho vytnle canit,