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

Vh' Va Oil Abo pOhCynOlOeTb, an
amount equal to or greater than the
ascertained net cash value of All
such company's policies in force.
1t is worthy Of note that the men
who fought for this law were the
managers OF the Citizens Life In
surance Company and the same
gentlemen who are now promoting
the Citizens National Life.
The plan in brief Of the Citizens
National Life Insurance Company
Ia first to merge into 1t the Citizens
Life Insurance Company. AS al
ready indicated, the same who dur
ing the past five years have made
life insurance histor through the
exceptional development Of the lat
ter company are the guiding spirits
Of the new organization. The fur.
ther purpose of the new company IA
to take over other companies of the
South and elsewhere which may de-
eide To discontinue business or may
find 1t more profitable to CONSOLE
date with company of great
strength. There seems to be moth
ing impracticable about the plan.
nor does It appear where anything
but advantage can come TO the
policyholders and stock holders of
the Citizens Life or any other COM
panles which may be merged into
the new company. No doubt the
stockholders Will see to it that a
thoroughly equitable arrangement
Is carried out for the exchange of
holdings in any existing company
Tor, stock In new corporation. II is
pointed out to policyholders of the
Citizens Life IN particular-and
the same conditions must apply to
the policyholders of any other COM
pany merged into the big company
that the consolidation will mean
to them insurance in one of the
strongest companies in the country.
and for that matter, in the world.
There are purchasers OF life insur.
ance who do not care particularly
for big company. Some on the
other hand will insure In no other
kind, but no one objects to a big
company when seeking life insur-
ance protection. Thus the new
company will not only secure bust
ness from those who are content to |
buy insurance from small COM
pany, but TO those who want to pur-
chase very large or even small poll
cies and demand great financial
strength, 1t will stand the severess
test But there is a deep interest
and significance to the general pub
lie in the organization OF q ten mil
lion dollar insurance company in
the South and an sdded local inter
est when tits considered that Ken
lucky will be the home Office of the
company. Mr.. w. H. Gregory,
president Of the Citizens Life and
one of the guiding geniuses in the
Advancement of the new company,
has In receut letter to the policy
holders of his own company called
particular attention 70 what might
be styled the Southern phase of the
The points cannot be well
stated more clearly, ana We quote
from his letter:
The tremendous power gained
by Southern people in the organlza-
ton of this company is the check it
will put on the flow of millions of
dollars annually in life insurance
premiums from the South to the
North and East. l believe conf
IDENTIFY that this viii be one of the
greatest things ever done financially
for the South.
1.-The South Is coming to the front.
1t is making more progress than
any other section of the country.
people have been awaken
ed TO the great power they have,
once they band together. Take
other lines of bnsiness-the cotton
mills, for instance. The South
once sentits cotton to New Eng
and. There il WAS manufactured
and sent back and sold at a goodly
profit. The South paid the freight
10 New England on the raw materi-
Al, paid the man fac-
surer in New England profit on
The goods handled and capital in
vested, to say nothing of the mil
ions and millions of dollars lett
here to pay Northern labor But
I is changing the order Of things.
The capital OF twenty-one millions
'nce invested in cotton mills in the
south has in recent years increased
% three hundred millions. The
people of the South at one time did
Tot appreciate Just what the cotton
'rop amounted TO- and / dare say
iome do not know that every panic