The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-04-28

being; this is divided by environment AM
| held to its locality. TO its immediate
needs there must be addressed the prac
| ticable. to it's individuality there must
he concealed the sight of contention ou
| this only. as for il larger community uh
less we arrest progress and stultlfy oul
every protestation of love, of falth ana Oh
patriotism. We cannot believe IN our
| selves, tf we do not believe III others
We can have no South without North
no West without an East. we can &c
nothing for ourselves alone. For the ont
man there is no heaven; for the one earth
no Universe: for the one sun no stars.
Our bodies are an association Of atoms;
our minds the aggregation of ideas; our
souls the conveyance of the rays OF an
infinite God.
Existence is a compact In some
things we are all debtors; in some all
creditors, but at no time can the balance
be struck. by nothing the scales Of JUS
tice be evenly poised.
This has been the reasoning Of the
great minds of all times. and this should
be our conclusions here. No South. no
North, but an effort to get on together In
mutual understanding Of the better ends,
and mutual subscription to each other s
needs"
The next speaker was Mr.. j. ID.
Church. Of Charlotte, General Agent OF
the New York Life Insurance Company.
Mr.. Church conceded with Prof. Stew
art in his views of insurance investments
in the South. In alluding to the invest
ments OF his own company, he remarked
that the facts were that the new York
Life Insurance Company had about &c.,
100000 Of investments in the Southern
States, and only $25O,OOO in the New
England States.
He did not believe it wise to make the
insurance business, or any other business,
sectional. The most tinid man in the
world is a man with million dollars,
except the man with two million. Money
goes where it can get the best securities.
and the best investment The wealth of
the insurance companies is coming into
the South because it firr,.s good securities
here, and this fact is evidence of the fact
that this great Southland is improving
and that the great fnanciers of the world
are every day manifecting their conf
dence in the South. There is no longer
any sectional prejudice. but we are all,
both Northerners and Southerners, first
of all, Americans.
Mr.. John C. Drewry, of Raleigh. Gen
eral agent of the Mutual Benefit Associa-
ton, was the next speaker.
Mr.. Drewry made an excellent and ex-
ceedingly interesting address. in which
was much valuable information and sta
tistics of value to the insurance world.
| hope to have a full text of Mr.. Drew
t.. NJ u, IL
other addresses in our forthcoming In
surance edition.
Mr.. ID. l.. Gore. of Wilmington, pres
ident of the Carolina Insurance Com
pany, prominent and successful home
company, spoke next. He spoke in the
interest of our home organiZa tons, but
stated that there was no antagonism or
enmity between home companies and
what is known as foreign companies.
Mr.. J. Van Lind,ey, one of the board
Of directors Of the Southern Stock Mutual
Insurance 'Cmpany, of Greensboro. an
Their home company, spoke at some length
on the question as to why there were not
more successful insurance companies in
the South He attributed the lack Of in
terest in organizing and conducting
Southern insurance companies largely to
adopted by home companies years ago
Mr.. Van Lindley read paper prepared
by Mr.. A. w. McAlister manager of
the Southern Stock Mutual. of Green's
boro, y. c., concluding as follows:
IF our laws were little more exacting
Of all insurance companies. home and for
eign. and supervised them little more
rigidly, so as to render it impossible for
on irrnc DO ID
in the State, it wuId be the most helpful
legislation which North Carolina could
enact for the encouragement and promo
ton of home insurance companies. That
the Suthern people are capable Of con-
Quoting the business Of insurance success
fully has been fully demonstrated. There
are four companies in the South whose
success has been without precedent. They
confine their undertakings to the respec-
tive States, unless where laws are Or
ganized, and they have reduced the cost
of insurance to a smaller figure than has
been reached in any other section of this
country.
With conservative management land
no Southern company with conservative
mana cement will undertake. to operate
outside Of the South, and such superyis-
irresponsible insurance enterprises. this
generation should witness the bulk OF
insurance in the South carried by South
ern companies.
Mr.. J. r. Young. of Henderson. State
y gent Of the Washington Life Insurance
Company, spoke next. He felt that the
could be of benefit not only
to the insurance interest, but to the
State Mt large. A better understanding
of the methods of conducting the bust
ness Of insurance would be one of the
results, and there would hereafter be
better understanding in the minds Of the
people as to what insurance is, how
the business is managed, where its invest
ments are made, and other valuable and
important facts. When the facts are
known by the people you will hear less
Of demagoguery on the part of politi-
clan here and there merely for selfish
and political purposes. Other speeches
were made by Mr.. Hall. of Tennessee.
Mr.. Drewry, Mr.. Gore, Mr.. Patrick. Mr.
Church, Mr.. Hartman, of South Carolina,
and others.