The age-herald., 1897-10-03
The Alabama State Mutual Assurance
 Company kot Impaired.
Age-Hera1d:

Age-Hera1d
 dn recent issue of your paper ap- peared "a statement that the A.abama sita,te Mutual Abstinence company was Impaired and in trouble, and m connec- uton therewith was published an extract 8lafbled from uhe tnSlbrance examiner s recent repoi to Hon. Jamss K. Jachso.a, tr5ul3lroa commissioner, for AlaoaIna. NC- douhiJ.4g that the public, sae.ng il to be an adyerJlS1mene, wouDI uake u wltn a gi'aan of salt, We have nevehlheless deemed 1t proper to make "a st-t cnent of tho faJ1s involveld. Our comp-my s g. mutual company, collecting omehalf of tEa premium dDaIged, amt leaving The remaltnder tn the haIrtds of Ahe policy holder, subject to aisseselment to pay losses when necessary. During the two and a half years of its existence f5 has never been necessary, for tale rtas-n. that the tn9-half pT'elmllin naid Cn the assurance of the policy has beien ~Lnple ito lay losses and expenses. The insurance ex- amlner suggests thait we should have a reserve flor reinsurance and that we should call in the mon2y in t'' hands of Line policy holders to creace that re- serve, and his figures show thalt if dcne he reserve would be taimDla. Our cher- ter 0oes not permit IS to asse ss err any purpose except for payment of lo-S-ts. It fs simply a question: of law an1 has ros been decided. There is no hint in IFS eNdI1lllIeIS S ItpOIN IHHt Cn& company Us i'm trouble. On the contrary, his fig ures show thIalt we have funds in blnk ard we challenge a comparison of our record in 'thle prompt ard just paymen, of losSos with that of any company do- Ing bu,ines5 in Alabama Wraca1ky an jmmentse volume of blaS.mess, saving the state an enormous sum each year. and including, as we do, many of tlre bser. | bu4siress men in the slate among our l poll v-h'Jders Ut has become necessary | Dor some of our competitors to seize every fmagina'bFe opportunity, however | unworthy and umwarramted, to int ;rfrre | with the marvellous grow, h and SUCCESS | Of our Home Company" To show that itfns plan adopbed by thts company is in- doased by the wisdom and Judgment or business men. we enclose an eSu ract from a letter addressed by Col. R. B. Kyle of Gadlsden, Ala, whose buslna-s Sagaclty and sound judgment is un.ver- sally anown throughout the state:
 Gadsden. Ala, Sept. 29, 1897. MT John M. Caldwell, president Alaba-
 ma State Mutual, Anniston, Ala.
 Dear Sir In acknowledging the prompt payment of loss I recently sus- tained by burning of the Metallic Paint mill on which your company had $1,000, desire to congratulate you on the fine showing made for your company by In- spector Roberts, and used by others under unjust conclusions to injure your company in the state. Your plan is the correct one, as my experience in the past eight years will prove. In that time we have paid on car works, mill factory and other property about $3,O00 per annum, CT in eight years $24,000, and in that time we have not met with a loss. Under your plan we would have saved $12,000, which sum, had we placsd 1t in any security and re-invested in come, would amount to not less than $15,S00 saved. By patronizing old line companies the $24,000 has gone to in- crease the surplus of the mammoth cor porations of the north and Europe, com- posing the insurance octopus that is gradually absorbing the wealth of the country. If property holders in Alaba- ma vii take bushes view of the situ- atlon they will raly to your support and G -letaI .tfte efIoal- made to defeaa yfu il your patriotic effort to save money for our people and build up your own sec- ton by furnishing insurance at one-half the amount de emanded and received by the associated companies.
 Yours truly,
 R. B. KYLE.
 This is only sample of the many let ters received showing the status of this company in the estesm of business men throughout the state. We have no tin1e to carp and cayil with men who procure Advertisements" designed to injure the business of others but who have neither the courage nor confidence in their own position to lst the world know the name of the designer.
 ALABAMA STATE MUTUAL As- SURANCE COMPANY, by John M. Caldwell President. (adv.)
 Attend Hirsch's opening <5 T,, 1