Los Angeles herald., 1909-01-16
NEW INSURANCE
co. IN THE FIELD
GOLDEN STATE LIFE INC0R-
PORATED BY LOCAL MEN
LOS ANGELES TO BELTS HOME;
OFFICES ARE OPENED
Arizona, Including Bankers and
Merchants, Stockholders in
New Organization

Prominent men having interests in
the business territory of Los Angeles
have incorporated the Golden State
Life Insurance company with capital
stock of 5000, 900, and home offices were
opened yesterday on the second floor
Of the Wright & Calender building.
Three hundred influential men in Cali
fornia and Arizona have taken stock
on plan adopted of selecting ten
prominent men in each community
throughout the state and territory, and
in addition to it's capital the company
will start with 100000 surplus. 1t will
operate under the legal reserve law Of
California, and articles of incorpora-
ton were filed yesterday.
E. D. Roberts, president of the San
Bernardino National bank and three
other banks in that locality, has ac-
cepted the presidency of the company,
and has associated with him on the
board of directors w. F. Holt of Red
lands and Ell Centre, who is president
of the Holton Power company; T. H.
SPEECH of Riverside, president of the
SPEECH Packing company; G. w. Par
sons, a retired banker of Highland; P.
P. Greer vice president of the First
National bank of Globe Arizona; w.
o. Randolph, president of w. o. Ran
dolph & Co. of Los Angeles; F. H. Ed
MdEUS OIL II. EuWdEuS TO-, AOS
Angeles; Dick Ferris, a leading theat-
rical manager of Los Angeles; A. r.
Fraser and G. M. Jones, Ocean Park
capitalists; Arthur G. Metz a Monte
rey banker and M. B. futile, a CAPT.
talist of jacksonville.
Agency Department
The agency department will be in
charge of experienced insurance men,
among whom are Frank A. Werner,
Charles A. Bradley and 1. A. Ewing, all
of Los Angeles. The medical depart
ment will include Doctors William II.
Kiger. John Y Oldham, J. E. Cowles
and Titan ]. Coffey of Los Angeles.
1.-THE organization of the company
on a nigh plane was considered an I'M
dertaking of unusual magnitude on ac-
count of general financial conditions
supposed to be unfavorable to any new
enterprise" said an officer of the COM
pany yesterday. However, we were
gratif1ed to find that our representa-
tives found local financial conditions
so satisfactory that the people do not
hesitate to accept an investment of
this character.
"A life insurance policy is an article
of commerce that can be furnished
just as well by Los Angeles as by New
York; in fact, there are many reasons
why people should now prefer the west
ern companies to the eastern compa-
MES. The three existing California
companies are not writing more than
20 per cent of the business that is
written annually in this state, and in
the entire tranSmiSsiSSippi region only
IL per cent of the life insurance pre-
miums are paid to home companies.
These are facts that can be sub
stantiated by the official reports, and
are certainly deserving of considera-
ton.
What such companies mean to a
community will be understood by the
following amazing figures:
"Forty-three American companies re-
porting to the New York department
in 1905 have a combined capital of less
than twelve millions of dollars, and yet
their assets are 81, SCI, 1884, ia and their
income has been over eight billions of
dollars. Their assets are 222 times
the money invested and their income
673 times the capital
Some of the Stockholders
Among the stockholders are the fol-
lowing prominent men:
E. D. Roberts, president of San Bernardino
National bank; w. S. Hooper, cashier of San
Bernardino National bank; H. E. Harris, vice
president San Bernardino National bank; Earl
F. Van Luven, president Fruit Growers ex-
change, Cotton; c.. w. Curtis, cashier First
National bank of Cotton; w. w Wilcox can't
talist, Colton George w. Parsons retired
banker, Highland; w. F. Holt president Hol-
tor Power company, Redlands; William Bux-
ton, vice president First National bank Rialto;
Arthur S. Critics, cashier Bank of Kern, Kern;
L. +. 81. Clair, president Independent Oil
Producers agency, Bakersfield; George A. Car
ter, president Valley Bank, Ell Centre; F. H.
SPEECH, president F. H. Spech & Co., River
side; A. Scott Ballagh teller Pioneer bank,
Porterville; M. d. Wood, manager MERGED Sc
curity Savings bank, MERGED; M B. Tuttle
capitalist, Watsonville; William H. Baldridge
president First National bank, president board
of trustees, Anaheim Charles A. Boege cashier
German-American bank, Anaheim; P. P Greer
vice president First National bank Globe
Ariz.; John H. Hampton, director First Ma
tiCnal bank, Clifton A. T. Thomson, secretary
and treasurer Arizona & New Mexico railroad
Clifton; E. M. Williams, president First Ma
tonal bank, Clifton; Norman Carmichael as
sistant general manager Arizona Conner com
pany, Clifton; Howell A. Smith, mine owner
firm of Rowland & Smith, Bisbee; B. NJ Patti
son, general manager DEM Arizona Conner
Mining company, Bisbee; J. T. Hood, cashier
Merchants and Miners bank, Bisbee; H B.
Ienney, cashier Consolidated National bank
Tucson; Leo Coldschmidt. vice president Com
solidated National bank, president Eagle Mill
ing company, Tucson; F. H. Edwards real es-
tate, F. H. Edwards & Co, Los Angeles; T
j. Corey, physician, Los Angeles; J. E. Cow
les physician, Los Angeles; w. o. Randolph
president Randolph Fruit company Los Ange-
les. Charles B. Hopper, president E. L. HOMER
Co., real estate, Los Angeles; Dick Ferris
theatrical manager, Los Angeles; B. L. Tyler
president Tyler & Co., real estate Los Ange-
les; 7. G. Peck, general passenger agent s. T..
route, Los Angeles; c. c. Patterson, secretary
Plcneef investment and Trust Co, Los Ange-
les; e. j. Harper, city forester, Los Angeles: :
Edgar Sharp, attorney, Los Angeles; c. L. ia
CODY, capitalist, Los Angeles: T. SpeIlacy, ex-
chairman Democratic state committee los
Angeles; Arthur E. Poole, capitalist, Los An
geles; H. c. Fryman, manager Hotel Hay-
ward, Los Angeles; w. A. Barker Barker Fur
niture Co, Los Angeles; Albert H Beach real
estate, Los Angeles; Arthur H Ten Brock
capitalist, Los Angeles; George E. Burial
secretary ]. r. Newberry Co., Los Angeles;