The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-01-17

Expense anu commas -.
sion to agents, o,oU5 81
Divide nds 10 policy o-, oe
holders, E,99i 70
NJ { Gain, 0 5-t Ia
S,s,172 55 $ls,l72 55
C,o;tol 100000 90
G% % r2r esnt reserve sl,7s4 So
Additional reserve for
reinsurance, per ~
cent, l"S ~
io n.r cont 'o ~ 1924 Ii
49,, oesots sos 9li Is
There are some striking facts con-
tanned in this statement" continued
Mr.. NcAlister, (which are OF more
than usual interest"
IL Ont of siXty-tiVe insurance COM
panies, most of them have been operaI-
ING in the State for many years, only
ten of them did a larger business Tor
1895 than the Southern Stock Mutual
80. The expenses, all told,of operating
this company have amounted 10 only
80 per cent. of the premium recelpts'
The insurance reports show that the
average annual expense ratio OF the
one hundred and ninety-three fire IN
sarance companies doing an agency
business in this country, is Al per cent.
The Southern Stock Mutual has low
cred this average eleven per cent.
sour losses by fire for the year have
been a fraction over Z per cent. OF the
premium receipts. 1t is proper to state
that we cannot expect TO maintain SO
small q lose ratio. Losses win grow
Is the business grows; but even for
| first years business, n loss ratio OF per
cent is almost unprecedented. inc
| insurance reports show that the aver
age annual loss ratio of the one hun
| dred and ninety-three companies refer
| red to above is about IS per cent. The
Southern Stock Mutual has lowered
this average 4S per cent.
1.-THE policy of the company has been
rigid economy in the administration OF
its affairs and extreme care in the Sc
lection and distribution of risks, and
the result of this reduction of expenses
and losses to q minimum is that the
directors have rendered to policy hold
ers a dividend of 20 per cent. on an
nual policies, and 6% per cent. on three
year policies. The three year policies
written during the year 1895 will also
share in the profits of 1896 and 1897.
About $1,000 will be returned in divi-
bends to the pockets of the policy hold
ers who have insured their property in
this company and about S13 900 has been
kept within the State which heretofore
has been drained out for the enrich
ment Of foreign companies.
The above facts and figures demon
strate concIusively that we can do our
own insurance in such home COM
pany as the Southern Stock Mutual as
safely rs it can be done in foreign
companies and for less money. The
people Of North Carolina ought to rise
to hat plane Of public spirit whichwill
prompt them to see to it that their
property is insured in home companies
to the extent of their carrying capaci-
ty. and first Of all, in that company
whose plan Of business admits them
to participation in the profits"
+ am told that the Southern Stock
Mutual has agents in nearly every inn
porfant town in the State who are
gradually but surely winning the insur-
ing public to it's united support. The
company has upwards OF twenty-five
hundred policy holders, among whom
are numbered hundreds of the best
business men from every section Of the
State
rhe foIln,yino officers and directors
we're reelected ut to-day's meeting for
the year 1890:
+. NJ. WORTH.
President.
4. p WHARTON.
Xioo-preeident
4. w. McAIISTER.
Sec'y and Treasurer.
DIRFCTORS
ta,yrsnca ( Hoit
! carr
samuel Mon TATE
! Snenca,
n n Ja+t,
~, = NJ.
Donald MacRae,