The Arizona sentinel., 1908-05-27

Not one of them has one
dollar loaned on mortgage security in
either Arizona or New Mexico, nor can
it be obtained, no matter what the Sc
curity. Here is a clipping from all
delivered by w. d. Vandiver,
insurance commissioner for Missouri,
before the Trans-Mississippi congress
at Kansas City in November last, that
will give you some idea of the tribute
the west pays to the east and how we
help New York to prosper.
Sin the course of his address the
speaker said:
'Twenty-three states and terrific
ries lying west of the Mississippi river
last year contributed to insurance COM
panies 1864, 279, 600 in premiums. Does
any one doubt that the commercial SUI
premacy of New York is due to the CEN
tralization of the insurance assets in
the market more than to any other one
factor? The insurance reports of New
York run back to 1859. At that time
there were fourteen leading insurance
companies doing business there and
their assets amounted in round num-
bers To S35, OO0, 900, with total insurance
of $14O, OOO,OOO.
"''On the first of last January forty
two companies doing business there re-
ported assets of more than s. 600, OOO.-
600 and total insurance in force of more
than ST., 900, 100000
"'This stupendOuS increase of nearly
6. 900 per cent is more than five times
the per cent of increase of all the rail
road companies in the United States.
1t is no wonder that the greatest finan-
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
surance companies than by all the trans
pOrtation companies of the country,
ami it is the Capitalization of these inn
meDSe accumulations in one locality
that makes that locality the seat Of the
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 its fingers in the vaults which
hold the premium reserves of nearly
twenty millions of insurance policies
al feel, therefore, that the most
important matter which can be brought
to the consideration of this body is the
development of the insurance business
in this great field which the Trans
Mississippi congress represents"
"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 IN.
surance on reserve basis from $1.5(
to 50 per thousand less than old line
companies of the east. We write just
as good insurance, just as good policy
as that issued by any company east Oh
west, and we feel confident that the
Occidental Life Insurance company
will become one of the greatest financis.
institutions of the Southwest"
At the beginning of this year the
Southwestern Underwriters company
of Arizona, was organized to push the
business of the Occidental in both ter
ritOries. AS its general agents thi.
company is ofiictd, financed and direct
ed by such well known men as IloyC
Christy, cashier Valley bank, Phoenix
Eugene Brady O'Neil, Phoenix; Is. A
Packard, Naco, all of whom are vel
known in Yuma;J. L. Leseur, mer
chant. Mesa; &. w. Goodman, super
; intendent of the Indian School, Phoe
nix: II. W. Stevens, mining broker
Prescott; f. Il. Stewart, insurance
Prescott; Z. G. Eagin, cashier, bank o
Florence; Carlos {. IacOme, merchant
Tucson; +. j. Bennett, president Vale!
bank, Phoenix; L. T.. HAMS, cashier
Bank of Douglas; J. N. Howell, cashier
Bank of Benson; Judge F. NJ Doau
Tom bstone; Mel NJ. Alfred. S. L. Glib
son, DR.. +. McPheeterS, J. B. Newman
J. G. GratLi, w. S. Dayton. w. d. Fisk
a. w. Snyder, A. DeLacy and J. N
Porter, president of the First Nationa
Rank, Harry Sultan aud Alfred J
Kelly, all Of Globe. Among the CliftOi
and Morenci people interested are +,
NJ Williams, president First Nationa
Bank, Clifton; Norman Carmichael
Assistant General Manager Arizona
Copper Co., j. J. Kelly, Assistan
Cashier First National Bank, Clifton
and Dr.. Arthur G.. Gillian of Morenci