San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1896-03-15
COLOSSAL OURTAILMENT
Of the Circulating Medium Through the
AGENCY Of Life Insurance Oompanies.

hSOhIJ VI LllAO AAAouLohSS SOLl peNAASot
Few people stop to realize the
mense drain upon the circulat-
ing medium Of Texas through the
agency Of life insurance companies.
A conservative estimate places the
amount annually withdrawn, in
the way OF premiums and renewals,
at $4,000 600, scarcely a dollar of
which finds it's way back into local
channels. The bulk of it goes to
fill up the reserves, which find in
yestment in bonds and stocks and
in rearing costly sky-scraping
buildings in the northern aud east
ern cities.
Life insurance is unquestionably
duty every man owes to his FAM
lily, no matter what may be his
condition in life. Every man who
loves those dependent upon him
and in whose welfare he feels a
deep and abiding interest, should
insure his life for their benefit, and
thus guard against leaving them
to the tender mercies OF charity
or as charge upon the
public. All prudent men have
come TO recognize the necessity of
making some provision after
death for their loved ones, and
hence it is that lite insurance COM
panies flourish and are enabled to
pile up vast reserves which almost
stagger one to consider.
Some idea Of the magnitude of
the sum annually sent out of
Texas for premiums and renewals
can be realized when it is under
stood that it represents the aggre-
gate proceeds of the sale Of over
100000 bales Of cotton. Now, the
question may be asked, Why Is
not some effort made to not only
retain this vast amount Of money
at home, but invite the investment
of outside means through the
organization of q home company?
The business of life insurance is no
longer an experiment or specula-
ton. Its profits and losses can be
calculated with almost mathemat-
ical correctness to a penny, and,
therefore it Is we seldom or ever
hear Of the failure or suspension of
a conservatively organized and
honestly managed company. In
other words, 1t is more profitable
to maintain and operate a legiti-
mate enterprise than to bankrupt
and ruin 1t for the temporary gain
which may accrue.
So thoroughly impressed
with the profit and practi-
cability Of a home organization
is Mr.. Louis j. Workman, that he
has set on foot a move to form one,
and has thus far met with most
gratifying and encouraging sue
cess. The list of subscribers to the
stock already secured embraces
some of the wealthiest and best
known citizens Of Texas-Leon
Blum and w. l.. Moody, of Gal
weston; VIM. HI. CASTOR and j ohm
n. Simpson, of Dallas, and some
thirty other leading bankers and
capitalists, representing every
city and town of any considerable
Importance in the state, save San
Antonio.
Mr.. Workman is eminently quail
flied for the undertaking. He is
one Of the most successful insur-
ance men in the south, and his
long and practical experience has
given him an intimate knowledge
of all the essential details so abso-
lutely necessary to secure an intel
ligent and correct administration
of the intricate affairs of life in
surance company. His energy is
limitless, his personal popularity
boundless. Composed Of such well
known gentlemen as have signitled
their willingness to enter into the
formation Of the company, aided
with the ripe experience and sound
discretion of Mr.. Workman, there
is no reason why the contemplated
organization should not score a
success from the beginning and
enter upon a long and prosperous
and honorable career.
San Antonio capitalists might,
without loss, interest themselves
in the organization, and by timely
action endeavor to impress upon
the projectors the advantages our
city has to offer as the home office
of the company. 1t would be a
rare piece of good fortune to San
Antonio to capture such a prize,
and it is not beyond her reach il
only proper and energetic effort is
made.
Cottage Burned TO the Ground,