The Birmingham age-herald., 1903-03-01
INSURANCE CO.
 IS INCORPORATED To be Known as Atlanta-Bir- mingham Insurance Co. CAPITAL TO BE $6OO,O00 Outcome of the Movement of the Board of Trade to Get Lower
 Insurance Rates for Bir-
 mingham.
CAPITAL TO BE s6OO,OOO

The Atlanta Birmingham Insurance company, which is the outgrowth of the fight started by the Board of Trade for lower insurance rates in Birmingham, has been formally organized, and the articles of incorporation have been filed in the office of the probate judge of this county.
 The declaration calls for a capital stock of $6OO 000 of which one-half has already been paid in and the balance will be paid in a shore time. The incorporators are J. T. Dargan of Atlanta, and Henry Denegre and Charles Denegre of Birming- ham.
 The members of the board of directors from Birmingham and Alabama have not been Announced yet, but those from Atlanta and Georgia are:
 Willis E. Ragan of the Everett Ridley Ragan company, wholesale dry goods.
 J. T. Dargan, formerly southern mana ger of the Imperial Fire Insurance com pany of London.
 H. M. Atkinson, president of the Title Guarantee and Trust company.
 P. s. Arkwright, president of the Geor- gia Railway and Electric company.
 c. E. Currier, cashier of the Atlanta National bank
 J. Wylie Pope. vice president of the Enterprise Lumber company. Frank Hawkins, president Third Ma tional bank.
 H. C. Bagley, general agent Penn Mu- tual Life Insurance company. oh hu Of merce and of the J. K. Orr Shoe company. John w. Grant, capitalist. At a meeting of the promoters held in Atlanta the organization was perfected and the following resolution was adopted
 "Whereas at d meeting held this day, February 20, 1903, of the acting temporary directors of the Atlanta Birmingham Fire Insurance company, the acting secretary pro tenn has submitted his report show ing that he has now in hand S3OO,00O sub scriptions to the stock of the company. ''Be 1t resolved, That said report be accepted and approved, as in our opinion said amount of subscriptions has substan- tially complied with the subscription con dition that when s30o,00O capital and sur plus has been subscribed, call can be made on the stock so subscribed, and that the said J. T. Dargan, acting tenn porary secretary Is, in our opinion, now authorized to make said call and take such other steps as are necessary to per feet permanent organization of the com pany, so that its affairs can be taken charge of by permanent board of direc- tors acting legally in the interests of all stockholders.
 About nine months ago there was an advance fir the insurance rates of Bir- mingham, and after much discussion the Board of Trade appointed a committee. of which Oliver Chalifoux was made chairman, to see If an insurance company could not be organized in Birmingham and Alabama, the scope of which was to be the entire south MT. Chalifoux inter- ested J. T. Dargan of Atlanta, and the new company Is the result of the work.
 A number of the business men of Bir- mingham will be the board of direc- tors and many more will take stock in the company. The headquarters will be in Birmingham, and an office will be opened at once in Atlanta and here. As soon as possible this will be extended and offices will be opened fin other cities.
 It Is possible that MT. Dargan will be elected president of the company, as he Is a man of large experience and has worked hard in the interest of the enter Irise.