The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-06-11
SOUTHERN LIFE
INSURANCE CO.
Wonderful Record of Life
Insurance Co., of Va.
HAS ENLARGED SCOPE
Some Facts and Figures About the
Thirty-Four Years Work of
This Great Southern
Insurance Com
panY.

Richmond, Va, June 10th.-Now
that the entire South is awakening to
the situation and beginning to realize
what an enormous volume of money it
is sending annually to the great money
centres of the country to be used in
buying up the very industries of which
the South is proudest. attention is be-
ing directed to the Southern compa-
MES which offer the same strength
and safety and as great advantages to
the investor as the insurance compa-
MES of the north.
The southern companies who are
receiving attention at this time are the
ones who have accomplished some
thing and have something more than
mere sentiment to use in appealing to
the prospective clients. In this con-
troversy about support of insurance
companies in the south, thoughtful
people will not let the idea that every
thing that represents itself as south
ern is necessarily worthy of support,
but there will not be danger in invest
ing in any of the companies that are
approved by the insurance depart
ments of such States as North Caro-
lima.
1t is an acknowledged fact today
that there are southern insurance
companies that have risen to the high
est place in the confidence of the peo-
pie. This has been accomplished by
the men of sterling character that
have been placed in charge of the at
fairs of the southern companies.
Today | was surprised by visit to
the building occupied by the Life In
surance Company of Virginia, to fnd
there several hundred employees
regularly occupied with the office
work that is necessary to conduct that
great business. Almost half of an en-
tire block is taken up exclusively by
the officers of this great company,
which has more policies in force in the
Southern States than any other two
or three companies i'm the world have
in the same territory.
This company began business thirty
four years ago and its history is one
of steady development and a growth
that has kept pace with the progress
of the South. What this company has
accomplished makes one of the most
interesting stories that the South S
prosperity offers sand the thousand
men employed as its representatives in
the various Southern States have CO.
operated with the officers in their en-
deavors, until today its pyramid of
growth is a familiar sign throughout
the South and a subject of pride to
all Southern people.
While visiting the head office of the
Life Insurance Company of Virginia,
one is reminded that few Institutions
exert so widespread an influence for
good as thirty, we'll managed insurance
companies. Like savings banks, the
life Insurance company inculcates
habits of economy and compels its
patrons to lay up store for the pro-
verbal rainy day. While the indi-
vidual is benefited. the community so
fortunate as to have successfully
managed life insurance company as
permanent factor in it's financial pro-
gress, has a powerful, though silent,
influence, which affects its well-being
i'm many ways, not the least of which
is taking care of the elusive nickel for
careless or thriftless citizens, and de-
monstrating the underlying principle
that 'mony a mickle makes "a
muckle.''
Richmond has a distinctive South
ern home institution of this nature in
the Life Insurance Company of Vir-
ginia. 1t is all it's name implies-a
Southern organization, Incorporated
under Southern laws, having its home
office in the Souths capital-and its
growth and success is a pyramidai
monument to the business probity anG
acumen of the gentlemen who have
been so long and intimately identified
with the administration of its affairs.
Chartered by the Virginia Legisla-
ture, it was brought into being as
body corporate in the city of Peters
burg, March 81, 1871. Mr.. A. G. Nc
Ilwaine, at that time a prominent
merchant of Petersburg. actuated by
patriotic motives to establish a South
ern life insurance company, was most
largely instrumental i'm originating
this company. Becoming its first
president. he held the office until re-
moved by death in April, 1878, when
he was succeeded by Mr.. Samuel b.
Paul, who had been secretary from
the date of incorporation. During his
administration, in 1880, the home Office
was removed to Richmond. Later. on
October IL, 1896, Mr.. G.. A. Walker
succeeded to the presidency, and dur
ing the following year, under Mr.,
Walkers administration, the industrial
feature was introduced, which has
aided very materially in the rapid de-
velopment of the business to it's pres
ent proportions and earned for the
company the sobriquet, THE Pioneer
Southern Industrial Company" With
a weekly premium income of only 5000
in 1887, the company's industrial
premium income now approximates
$4,000 per week.
Operating originally in Virginia and
North Carolina, the company has so
expanded it's territory as to embrace.
not only these States but also South
Carolina, Georgia, Louisiana, the Dis
trict of Columbia and Indiana, having
district offices in all the principal cities
of these States, each in charge of a
superintendent, assistant and staff of
agents. While no other institution in
the South can duplicate its growth in
rapidity and volume, it is probable
that but few i'm the country can make
a better comparative exhibit during
the same period all things being
equal. During its career this com
pany has absorbed the North Carolina
Life Insurance Company, the Ameri-
can Life and Accident Company, OF
Louisiana, and the North Carolina
business ort'o Immediate Benefit Life
Insurarc. Cor-aa of Baltimore.
For m8ny years re company was
6op7foiIaI Fa fka Han peyWiDcLrIo b1IiId-