The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-09-20
THE ATLANTIC FIRE INSURANCE
COMPANY.

The most important step taken ir
Raleigh this year was the meeting OF
more than a score of the foremoS1
business men, capitalists and manu-
facturers of the city to take the pre-
leminary steps toward the Organiza-
ton of another strong fire insurance
company with headquarters in this
city. The character and financial
standing of the men present and the
others who have signified their inten-
ton to become stockholders is guar
antee that the company will be or
ganized upon plans that will entitle il
to the confidence of the people of this
and other States
There is no reason why North
Carolina home companies should moi
carry at least one-half of the insur-
ance policies in force in the State, and
keep at home much of the money
that goes in a steady stream TO other
States In the year 1904 North Caro-
Ina folks paid $780,, 101.S6 in fire
insurance premiums to outside fire
insurance companies, and 00,S96.7l
to North Carolina companies. The
amount paid back in losses by outside
companies was $S34,94453, and $2S2,-
1908 by home companies. There
fore the people paid out one dollar
and received back only one-half OF
the amount paid. AS most of this
money was paid to foreign
companies, the fire insurance drain
from the State has been very great
during all the past years. Of the w.
07,49S.57 paid in premiums $780,
396.71 was paid to North Carolina
companies. The day ought to come
when these figures shall be re-
versed. and the $2,307,4 9S.57 ought to
come to home companies and the
$500396.71 go to the outside compa-
mics. Every well managed fire insur-
ance company in the South is doing
WELL and there is need of other strong
companies in North Carolina and
every Southern State. The time has
passed when Southern business men
will content themselves with raising
cotton and tobacco and manufacturing
them leaving to the North the more
profitable fields of insurance, banking
and financiering. The success or the
North Carolina fire insurance compa-
MES has been marked, and has
shown that all that is needed is care
full management by business men,
There is a field for North Carolina
companies not only in this State but
I'm other States. The. companies now
doing business can get the best risks
in Arkansas and other Southern
States at profitable rates.
Raleigh is proud of the North Caro-
lima Home Insurance Company. which,
under careful and wise management,
is doing a large and steadily increas-
ing business. t.twill be proud also of
the Atlantic, which will be wisely and
conservatively managed, taking its
place with the other successful fire in
surance companies which have blessed
the State in many ways.
There are troubles in every calling.
A Syracuse teacher slapped a boy in
school and the boys father notified the
teacher that a repetition would secure
for the teacher a good whipping. The
teachers error was. in ,slapping. IL
he had given the boy good birch-rod
application, at the place used by Solo
mon upon which not to spare the rod,
the public would not permit an irate
father to challenge him to combat.
The Springfield Republican has a
habit of calling things by their right
names. Referring to the $4S,72O given
by Mccall and Perkins to the Repub-
lican national committee, it calls 1t
money distracted from a fund for
the assistance of widows and orphans
That's the sort of money it was, and
it was ''abstracted." =
The Atlantic Fire Insurance Com
pany, Raleigh, North Carolina sounds
well. The preliminary steps were
taken yesterday for its organization by
prominent bankers, manufacturers and
business men in Raleigh. Its organi-
cation will give Raleigh two strong
and well managed fire insurance COM
panies.