The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-03-22
INVESTMENTS OF INSURERS.
GOV. ATKINSON TO SHOW Up THOSE
WHO SLIGHT GEORGIA.

He Thinks the Companies That In
vest the Most Money in Georgia
the state should he Given the
Preference-The Controller Gem
eFaI Called ON for a Statement
Showing the Facts.
Atlanta, Ga. March 2l.-Gov. Atkinson
has undertaken an important investigation
to show the attitude Of the various life
and fire insurance companies which do
business here. toward the state in a com
mercial way. The Governor wants to
know and wants the people to know
which ones of the companies are friendly
toward Georgia and are giving any as
sistance to the states Advancement in re-
turn for the vast harvest they reap them
selves. Every year hundreds Of thousands
of dollars are paid out in Georgia for in
surance to foreign insurance corporations.
Some of these companies at least are
prohibited by their charters from invest
Ing in Georgia bonds, while as far as
the present Information goes, the bulk
OF them make little or no investment here
but drain the state of this vast amount
of money to give other states the benefit
of it. 1t is the idea Of Gov. Atkinson that
the people who pay their money out for
insurance should know when they do it
whether the company that takes their
money is carrying II all out of the state
or whether through the friendly attitude
of the company at least some of it might
not be kept here for invest
ment upon terms OF ADVANTAGE
at least equal to that offered in other
states. In order to secure this Informal
ton the governor has placed the follow
ing letter in the hands of Controller Cen
eral Wright The letter largely explains
itself:
State Of Georgia, Executive Office. At
lanta, Ga, March IS, 1s95.-Hon. W. A.
Wright, Controller Generality Dear
Sir: l will thank you to furnish me with
the following information with reference
TO each life and fire insurance company
doing business in this state:
!. What is the total investment of each
of these companies?
2. How much of its total investment is
in bonds of the state of Georgia?
3. How much is secured by loans on
real estate?
4. How much is invested in bonds of the
counties and municipalities of this state?
5. What is the total amount of assets
of each invested or loaned in this state?
8. What is the total income of each of
these companies received from its business
in Georgian
Z. Is there any provision in the charter
of these companies or in the laws of the
states in which their home offices are To-
Gated which prohibits them from making
| investments either in Georgia state bonds
or loans in Georgia real estate, or invest
ments in our county or municipal bonds?
1 would like this information at an
early date as it may be of some service
| to me in floating the issue of Georgia bonds
| TIL, nut he yyaa
ket and for the additional reason that
think Is due to the people of the state that
| the position of each one of these COM
! panies, who are taking money annually
from Georgia, toward our people and our
| business interests, should be known to
/ the public, so that in doing business with
| insurance companies our people may have
an oportunity of transacting their BUSH
ness with those companies which are
/ most friendly TO Georgia and to our in
| terests, and which show the greatest dis
! position to invest money here and aid
us in developing the resources in our
state. With best wishes am yours obedi-
emily. w. Y. Atkinson.
| Governor
When interviewed to-day about the mat
ter Gov. Atkinson said: II consider this a
most important step. 1t is not only ques-
ton of material or commercial interest
| to the people to know what corporations
| but it is matter of pride and dignity
as we'll. Are we to be the prey of the
corporations or people who openly de-
clare that they will take from us all they
can, but will not do anything to help us
| IN return. who will cast us off in con-
tempt when they have done all they can
to exhaust us? I think such condition
is an outrage on our manhood If we
premit it to continue. In self-respect we
should protect ourselves. If we do not
we need not to expect it from
others. / am in favor of retaliation
When we find who are our friends, let
us treat them as friends. but If those
who have been unfriendly to us are de-
termined to continue so, then l want
legislation that will draw the line and
force these companies that fatten off the
industry of our people to deal with us
in a spirit of fairness. In other words,
] want reciprocity. If insurance compa-
MES are to thrive among us they should
give us the benefit of their prosperity by
making investments here, and not come
into the state and carry off all they can
get their hands on without so much as
saying thank you for II.
A SUIT AGAINST THE #. C. AND p.