The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-01-22
A 20 PER CENT, DIV
IDEND DECLARED
s----~-----
Several Thousand Property
Owners Interested.
NEW INSURANCE CO. PANY
ORGANIZED AT GREENSBORO
WITH A CAPITAL OF $4,000.
OFFICERS, SUCCESSFUL BUSINESS MEN
The Directors Represent Sterling Business
Men in All Sections The Success in
the Past and Plans for
the Future.

Greensboro n. c., Jan. 21.-(Staff
Correspondence)-The war ON the South
ern Stock Mutual Insurance Company of
Greensboro, n. c., made some three
months ago by the South Eastern Tariff
Association has had the happy effect for
the former company of causing the bust
ness to be larger for the past three
months than for any corresponding pc
Rod since the company was organized ;the
fight and the successful handling by the
Southern Stock Mutual has brought the
company into much prominence and this
with the annual dividends to policy
holders has given the company much de-
served popularity.
The South Eastern Tariff Association
antagonized the Southern Stock Mutual
Directing to the company's returning a
part of it's profit annually to the policy
holders. In Oct. 1897, a sweeping cut
of 30 per cent i'll the rate of insurance
at Greensboro, where a large per cent
of the insurance of the Southern Stock
Mutual is carried. was made by the
South Eastern Tariff Association for
the manifest purpose of driving the
Southern Stock Mutual out of business
4
ness view of the situation and decided
that it would be a short sighted policy
to withhold support from company who
had secured to them regular annual
legitimate reduction in the cost of their
insurance, for the sake of n mere tenn
porary advantage offered under the cut
rates for the purpose of driving a COM
petitor out of business, and the result
has been the Southern Stock Mutual
has been able to retain its business at
the regular rates. The plan Of insurance
of the Southern Stock Mutual has proved
so satisfactory that there has arisen a
strong demand from its agents for addi-
tional facilities for handling the business
which is brought to them. Under th.
rules of safe underwriting, no one COM
pany can carry more than a limited a.
mount ON any one building or in amy
one block or locality and as the agents
OF the Southern Stock Mutual have been
precluded by the hostility of other COM
panies from representing them, this poll
cy of exclusion on the part of the South
Eastern Tariff AsS0cia ton has opened
up the way and made fine opportunity
for the organization and successful opcr-
alton of second company to work in
conjunction with the Southern Stock
Mutual. With this end in view a new
fire insurance company, The Underwrit-
ers Mutual Fire. Insurance Company
was organized here this evening with a
capital stock of $4,000, 80 per cent Of
which was paid III cash. The new COM
pany will work in conjunction with the
Southern Stock Mutual and conduct It's
business ON the same satisfactory plan.
1t will write the same class of risks and
charge same rates as other companies.
but will pay dividends to p0licy-hold-
ers just as the Southern Stock Mutual.
The two companies by doubling the
carrying capacity will double the saving
under the stock mutual plan in the cost
of insurance 4 glance at the list of
officers and directors of the Underwrit-
ers Mutual Fire. Insurance Company
will beget for The new company the con-
fidence of the public at once and we pre-
dict for them the same satisfactory re-
suits both to stockholders and policy
holders as the Southern Stock Mutual
has been enabled to accomplish.
OFFICERS OF THE UNDERWRIT-
Frs MUTUAL FIRE) INSUR-
NEE COMPANY.
President, j. Van Lindley; Vice-Presi-
dent, Il. T. Wharton; Secretary and
Treasurer, \. w. McAlister.
Directors of the Underwriters Mutual
IYrol JuSrpaucA (tau1ugnv.