The times. [volume] (Richmond, Va.) 1890-1903, 1900-03-08
HOME INSTITUTIONS,

We learn from one Of our Alabama eA-
changes that the increase in the amount
of life insurance written in that state
during the past twelve months, as, com
nared with that written during the sever
al years previous, is remarkable. Almost
every company in the State reports an IN
crease in new business and IN premium
receipts. The reports also snow lhat
most of The companies made comfortable
nro1i4s out of their Alabama business
The Harrisonburg Spirit Of the Valley
notes with great pleasure" the or5ana-s
cation of new life Insurance compan!
in Richmond. I'VE are glad to be able
To make this announcement" says our
contemporary, because it is tanotner step
in the direction of keeping some OF the
money at home which for 50 long time
has been sent to the northern insurance
companies" The Spirit Of the Valley be-
lieves that the company will succeed.
The South is bound to be the growing
section of this country. The growth Of
the cotton-mill Industry in the South is
something enormous and past compre-
hension. The growth of the iron Industry
in the South is something enormous and
past comprehension. We have the great
est abundance of raw cotton. Of iron ores,
Of coal, Of fine timbers, and of other
raw materials, and as one branch of in
dustry grows, incidental industries spring
up and the increase is by inverse ratio.
lofy1 -
rapid growth it could be found in the
phenomenal increase in the earnings of
Southern railroads. Last year was "a rec
rd-breaker and everybody was surprised
at the wonderful exhibits which these
railroads were making, yet the increase
from week to week this year is largely
greater than the increase of the same
periods Of 1889 over 1895. "a New England
er, who recently travelled over portion
Of the Southern Railway, said that the
country reminded him more Of New Eng
land than any country through which
he had ever passed, because of the large
number Of towns and manufacturing in
dustries along the line of the road.
Every branch of trade and Of Industry
in the South is increasing, and we are
becoming more and more a self-support-
ing people. We are from yearato year
relying more and more upon ourselves to
manufacture such things as we consume
in our everyday life The Southern peo-
pie are gradually breaking away from
the had habit, which they had acquired
i, days past, of looking to the North for
their supplies. we have at last learned
the Importance Of patronizing home in
dustries We have at last convinced our
selves that home products are just as
good as the products of Northern nlillss
Ten years ago it would have been almost
| an impossibility for life insurance COM
pany, such as that recently organized
! here, to get a foothold in the South. for
the reason, as we have stated, that our
people We're not disposed to attach much
Importance to home institutions. But
the people are now saying to themselves,
If we can supply our own articles OF
manufacture, why cannot we do our own
insurance. We are getting confidence in
ourselves. and we are willing to patronize
/ home institutions. This new life insur-
ance company is organized upon the most
substantial basis; 1t starts Off with a
good surplus 70 Its credit, and ne believe
that its growth will as sure and rapid.
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