The Birmingham age-herald., 1905-10-23
LIFE INSURANCE COMPANY PROPOSED AtIanta-Sirmingham May Have
 S1,000,0O0 DOMlCILE MAY BE HERE Officers Will Be the Same as in the Atlanta-Birmlngham Fire lnsur-
 ance company-other ln-
 surance News.

 company, with headquarters eltner Ill At lanta or Birmingham. may be orgahizeu with a capital stock of $,OO0,ooo
 It is suggested that the stock De heio Sy the stockholders of the present Atlan- Birmingham Fire Insurance company. It is also proposed that, as far as IS feas- lble. the officers and directors of the Att lanta- Birmingham Fire Insurance com pany be the officials of the new company. This plan has been adopted by many or the English companies.
 In discussing the probability Of such an organization, the last issue of the Insurance Field contains the following;
 Plan Seriously Considered.
 'It is learned that the plan of organiz- ing the Atlanta Birmingham Life has been given serious consideration by the executive committee of the Atlanta-Bir- mingham Fire at several meetings recent Iy held. President J. T. Dargan was at one time engaged in life insurance work and during the years he has been engaged in fire underwriting has never lost inter- est in life insurance, which he consio- CTS a closely allied branch. Latterly ms attention has been closely drawn to the subject by a request from the Manufac- turers' Record of Baltimore to prepare series of articles on insurance In the southern states. with especial reference 10 the drain from that section In pre- miums to nonresident companies. Mr. Dargan is also familiar with the condi- tions in England and the line of opera tions there caused him to give favorable consideration to the plan of having an al lied company operating in the field of life insurance.
 The English Idea.
 'In England the Imperial Life Insurance company followed in due course the tor- nation of the Imperial Fire Insurance company The latter was organized in 1858 and in 1920 the Imperial Life was devei- oped by the same people. In like man ner the London and Lancashire Life fol- lowed the successful organization of the London and Lancashire Fire, as did the Norwich Union life follow the Norwich Union Fire In addition to these marked examples, large number of companies engaged in fire insurance in the United States transact life insurance extensive ly in England and other foreign coun- 
 tries.
 "It is planned to have the proposed Atlanta Birmingham Life operate under liberal charter and transact several classes of business, such as life, indus trial health and possibly employers lla- bility While MT. Dargan expects to be a factor in organizing and launching the company it is the plan to have trained experts manage the various branches or business engaged. in; to procure the pest possible talent and transact business on the lowest possible cash, non-partlcipat- ing basis.
 "In such an undertaking it is quite natural the intention to secure the CO., operation of stockholders of the Atlanta Birmingham Fire. They number about 800 and are scattered over the entire south and rank among the leading busi- ness men in their respective communities. It is felt that if the ta-Birmingham Fire. as company, takes an active in- terest in the establishment of the Allan Birmingham Life, it will immediately command the support of this large and widely scattered stockholding interest.
 "The stock will probably be issued in small shares, payable in installments, much on the same method that proved so successful in organizing and develop ing the $500000 capitalization of the At lanta- Birmingham Fire. It Is also pro- posed that the stock shall be registered with trust company
 President William J. Cameron of the local association of life underwriters has received letter from Charles V. Scovall president of the National Association of Life Underwriters, that he will visit Bir- mingham in an official capacity some time before January 1.
 President Scovall will look after the in terests of the national association in Birmingham He will visit many other southern cities for the purpose of arous- ing additional interest in the associa- tion.
 H. DeArmond assistant to H. J. San ders, general supervisor of the New York Life Insurance company in the southern states, with headquarters in New Orleans, is in the city
 Mr DeArmond has been here for sever al days, talking with the officers and agents of the company here. He held a meeting last week at which he talked to a number of the agents of the com pany, giving them information on the manner of soliciting insurance. He will leave this week.
 MT. DeArmond has been connected with the New York Life for number of years. He wears "Nylic" badge which is given to the representatives of the company who have made especially creditable re- cords "Nylc" is composed of the first letter of each word in the name of the company. =
 The next regular meeting of the Bir- mingham Life Underwriters association will be held in the Commercial club rooms November B.