The Birmingham age-herald., 1909-04-07
Copyright 1909 by Hart SShafner & Mars

ment have proven to be utterly inadequate for the protection of the insurers in these companies and need amendment l would recommend that all such companies except those which are purely local, con fning their business to the county in which they are organized. be required to make a deposit of not less than $lOOOO with the state treasurer or some trust company in such securities as may be ap- proved by the insurance commissioner. In addition to this they should be required to set aside the same reinsurance re- serve from their premium income as is required from stock and mutual fire com- panies.
 'It is ilnuuestionably true that the lax laws relating to this class of companies have encouraged their organization, anu in many instances utterly Irresponsible persons have taken advantage of this fact to organize and operate such companies solely for profit to themselves, yet l have no option in the matter, being com- pelled to license them where they have
 complied with the present lax require ments"
 Somewhat similar recommendations are made with regard to assessment life inc suranee companies, class of concerns which have got in about as much ques- tionable work as the fire companies. And equally bad, If not worse, than those are the fraternal insurance concerns which have been organized upon faulty principle and which, though generally well intentioned, often go out of business, leay- ing their policyholders nothing but re- ceipts for unearned premiums. All such companies, the comptroller general holds, should be required to make deposits for the protection of their policyholders.
 Georgia as state has been kind to the insurance business. And yet these con- cerns have made small investment in the state During 1908 all classes of insur- an& written reached the enormous total of s676, 452, ,9S124, upon which the total pre- miums paid were $l4, ,57S.1 .16, and s14, 100000 worth of practically cash business in one state in single year is not bad to say the least of it. The comptroller general has little com plaint to make against the stock and-line mutual companies which submit regular statements and make deposits for the pro- lection of policyholders, but he says he is going after the wildcat concerns and others which provide no protection for the people for all he is worth.
 Will Defend Calhoun.
 Alex C. King of the law firm of f!: & Spalding, and one of Atlanta's most forceful and best-known lawyers, left the city last night for San Francisco, where he goes to assist in the defense of Pat
 
 city, who is charged with bribery.
 MT. Kings association in the defense of MT. Calhoun grows out of the fact that the two were formerly law partners in Atlanta, at the time when MT. Cal houn participated so prominently in some of the startling railroad events which took place in this state and section. The firm was first Calhoun & King, and became afterward Calhoun, King & Spald- ing. Then in the early nineties MT. Cal houn left Atlanta and went to Cleveland, where he was engaged in street car and other ventures, subsequently transferring his activities to San Francisco. MT. King has absolute faith in his for mer friend and law partner and believes that his trial. if he gets fair one will prove his innocence of the charges which have been made against him. He has ex- pressed indignation over some of the re- ports which have been sent out in the press dispatches expressing the belief that they were unfounded and false.