The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1907-01-05
INSURANCE AGENTS
At BANQUET BOARD
President Charles R. Porter
Makes Address
SOUTHERN INSURANCE
Representatives of State Mutual Life
Insurance Co. of Georgia Hold
Annual Meeting in Birming-
ham-Many Attend.

The annual meeting of the agents OF
the State Mutual Life Insurance company
of Georgia that has been in session in
Birmingham for two days, came TO
close with an elaborate banquet at the
Hotel Hillman last night.
Besides the agents in attendance repre-
senting every state in the south, num-
Der of prominent citizens of Birmingham
who had been invited were also present
at the banquet
President Charles r. Porter of the State
Mutual Life Insurance company was
toastmaster for the occasion and during
the evening made an address in which
he reviewed the history of southern in
surance companies and the Importance
of patronizing home concerns,
President Porter said in part;
''There are now located in the south
many life insurance companies. There
are three in Virginia, six in North Caro-
lima, three in Tennessee, four in Texas,
one in Mississippi, two in Florida, two
In Kentucky and three in Georgia. The
oldest of these companies is the Life
Insurance company of Virginia, which
does almost exclusively an industrial bus
mess The oldest ordinary life insurance
company is the State Mutual Life of
Georgia. OF all these companies only two
are mutual and of these two one is the
State Mutual Life of Georgia. Counting
the gross assets available to policyhold-
ers of the other companies, the State
Mutual Life of Georgia is large as all
of the ordinary life companies combined.
II In, tota t1nnr Of
the others and upon these facts. not seek
ing to make an invidious comparison or
to disparage or criticise these other ex-
cellent companies, we make the claim
that the State Mutual Life of Georgia
is the oldest, the largest and the strongest
of the southern companies.
1T is not necessary that / point out
to this intelligent audience the necessity
for industrial independence in the south
1t is a matter of common knowledge
that the Carolinas and Georgia became
prosperous when the cotton industry was
transferred from New England to the
south. 1t is a matter of common knowl-
edge that the state of Alabama be-
came prosperous when the iron indus
tries of Pittsburg found their counterpart
at Birmingham. 1t is evident that as a
general principle of business economics.
it is advisable that southern people have
their insurance with home Industries just
as their savings are protected In south
ern banks and trust companies.
interest Is Two-Fold.
1.-The interest taken in southern insur-
ance by the Individual is twofold. If
he pays his premius to a northern in
surance company he makes a per cent
investment. If he pays his premiums to
southern insurance company he par
takes of the prosperity of his section
He has made per cent investment and
because he has helped his section he has
helped himself since the prosperity of
his community will react in prosperity
/ to him.
when southern premiums are paid to
southern companies the cost of insur-
ance will be lowered in the south. since
dividends will be higher, III southern pre-
miums are paid to southern companies,
800, 600 900 per year will be retained in
the south. The investment of the money
will strengthen present lines Of Industries
and new factories will rear their CHM
neys near new office buildings. built by
southern money The most fruitful Sec
ton of this country will receive stim-
illus in its development unequalled in
the history of the nation. The history of
the middle west will be repeated; farm