Daily Arizona silver belt., 1908-03-24

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 have operated extensively in the north ern portion of the territory and all have been successful in their work. | Operations in the southern part of Ar izona have thus far been limited on account of the great volume of business in the north and in the face of the fact that the officials of the company have been extremely busy in tho work of tho organization.
 The principal object of the forma tion of the company is to keep "home money' at home. h is estimated that at least $2,000;001 apAually are sent east for insurance purposes and never dollar of this is returned, with the exception of payments of death and ac. eident policies.
 The organization which carries a cap. ital stcck as large as many of the big companes of the east, is capitalized exclusively by Arizona and New Mex leo bankers and business men. The character o' the men who are asso., ciated with the company, is an ample guarantee of its honest and efficient management. Among those interested in Southern Arizona are J. x. Porter, president of the First National bank of this city; M. J. Cunningham, cashier of the Bank of Bisbee, Bisbee; w. II. Brophy, manager Copper Queen store, Bisbee; B. NJ. Jacobs, president Ari zona National bank, Tucson; Albert Steinfeld, merchant, Tucson; Dr. Mark A. Rogers, Tucson; Lloyd B. Christy, cashier Valley bank, Phoenix, Ariz., and a number of other gentlemen equal. ly prominent in financial and business that lack of space prevents mention of
 In speaking of this new enterprise, F. R. Stewart, general manager for Arizona of the Southwestern Under writers company of Phoenix, said at the Dominion hotel last evening:
 The primary object of the organiza- tion of the Occidental is to keep the money at home that is annually sent east for life insurance and loan it to our people here, that it may be used for the development of our interests in the territory, instead of the interests of Wall street. Our company loaned in the Salt river valley last year a lit tie over s39,O00. This will be more than doubled during the coming twelve months. We can expect no help from the insurance companies. Not one of | them has one dollar loaned on mort gage security in either Arizona or New | ny.n Aa nLA
 matter what the security. Here is a clipping from an address delivered by W. D. Vandiver, insurance commission CT for Missouri, before the Trans -Missis- sippi congress at Kansas City in No vember last, that will give you some idea of the tribute the west pays to the east and of how we help New York to prosper.
 In the course of his address the speaker said
 "Twenty-three states and territories lying west of the Mississippi river last year contributed to insurance compan- ies $l64, ,279,000 in premiums. Does any one doubt that the commercial su- premaey of New York is due to the centralization of the insurance assets in the market more than to any other one factor' The insurance reports of New York run back to 1895. At that time there were fourteen leading life insurance companies doing business there and their total assets amounted in round numbers to $35,OO0,O0O, with total insurance of $140,OO0,OOO.
 "On the first of last January forty two companies doing business there re- ported assets of more than $2,000,000,- 900 and total insurance in force of more than $12,000,0
 ''.This stupendous increase of nearly coco per cent is more than five times the per cent of increase of all the rail l road companies in the United States. It is no wonder that tho greatest fnan- ciers of the world are now battling for the control of these stupendous assets and no wonder that great railroad mag mates find the great insurance presi- | dents their necessary allies in business. |
 More money is handled by the in. suranee companies than by all the trans portation companies in the country, and it is the centralization of these i'm mense accumulations in one locality that makes that locality the seat of tho financial empire of America. Wall street could not control the banks of the United States if its hand did not reach up the full length of Broadway and keep it's fingers in the vaults which hold the premium reserves of nearly twenty millions of insurance policies.
 "I feel, therefore, that the most inn portant matter which can be brought to the consideration of this body is the development of the insurance busi- ness in this great field which the Trans. Mississippi congress represents. 1"
 You can readily see what it means to Arizona and New Mexico if we keep our money at home.
 "Our company is writing old line insurance on reserve basis from $l.50 to $S per thousand less than old line of the east We write just as good insurance, just as good policy as that issued by any company east or west and we feel confident that the Occidental Life Insurance company