The bee. (Earlington, Ky.) 1889-19??, 1909-08-12

Editorial From cOurisr-JOurnal Al
Susi 8, 1908.

the South's financial progress. De-
velopment Is q word constantly in
creasing In usage in our vocabulary.
Opportunities that were once per-
mitted to come and go unheeded are
now caught and nailed down. Lam
quid indifference more frequently
than formerly gets a jolt from ag.
gressiveness and tie Southern bust
ness world profits as a result Of the
encounter.
A striking illustration Of this lat
ter-day tendency to curb suspicion
OF enterprise and welcome Southern
progress came recently with the an
nouucement that plans are under
way for the organization Of n great
life insurance company for the
South with headquarters in Ken
lucky. it is significant that the
proposition has been received by
the many as seriously as it was
launched by the few sincerely.
Twenty, ten or even Eve years ago
the announcement would have met
with scant welcome. To-day It
seems to have been received with a
cordiality not unmixed with enthn-
siasm. Men recognize in IL an
agency Of benefit for both Kentucky
and the South and consequently a
personal friend.
The moment the swaddling clothes
we're ripped off the Citizens National
Life Insurance Company-an organ
jzation which Is TO have 100000 of
capital stock and s5,OOO,OO0 OF sur
plus-people began to lift up their
heads and take notice. Since then,
il is declared, letters and kilograms
have poured in on the promoters
from every section OF the South
actually wishing God-speed to the
enterprise. That the interest has
not been limited TO merely verbose
sentiment, is demonstrated by the
substantial financial support prof
fered with every arrival Of the
mail.
The man who is even more than q
casual student of current events is
impressed when introduced to
to the magnitude of the life insur-
ance business in the United States.
Ont Of apparently bewildering vol
umes Of statistics he can readily
gain, however, q conception, daz-
ding In impressiveness and particu-
larry useful in an understandable
contemplation Of the real meaning
to tb5 teS ftory south of the Mason
and Di,. a line OF the establishment
therein Of the proposed Citizens
National Life.
y II is well to bear in mind that the
Hast in particular has until most re-
cent years enjoyed what may almost
be described as a monopoly of the
life insurance business. While
Fasteners have drawn with tre-
mendous profit to themselves the
money from Southern policy
holders, they must also be credited
with possessing increasing faith in
life insurance.
In 1873 the total amount in poll
cies reported to the New York In
surance Department was $2,06S, 027,-
l7S. This total had increased at the
end of 1905 to $lO,623, 73s, 1856. New
York City's life insurance assets
aggregated in 1908 81, 725, 600 600 Hart
ford, Conn, has population of So
600, 1t had life insurance: assets in
1905 of s260,OOOOOO Montpelier, VT,
has a population OF 1000, and in 1908
had life insurance assets of s44, 000,-
coo, or SOAPS per capita. These fig
however, do not convey their full
until contrasted with
Louisville's aggregate life insurance
assets in 1908 OF about 81, OOO, 900 with
q population of about 100000
There is no end to the evidence
that lite insurance business is
profitable for community. We Ii
are wont to turn eternally to New
York when we study things finan-
cial One prominent New York
twenty years ago had a
little over 100000 of assets. Its
statement showed assets in 1908 of
$286,000,00O, and the assets have
probably increased TO about quar-
ter OF billion dollars to-day Four
prominent metropolitan life insur-
ance companies in 1908 bad a total
income Of S837,s87,l SS. Allowing
three hundred business days Tor the
year, tnis means that these four
alone pumped through
Ihe arterle of New York City's
financial and business system last
year upwards of 81 1875, 600 every day.
which is only a little
over 100 miles from Louisville has
like twenty life insur-
lnce companies. and the business in ,