The Birmingham age-herald., 1910-09-01

resources. Those companies will con tinue to enjoy the prestige and reap the profits which properly belong to them. We believe that they should and will concede to us people of the south the privilege of organizing and operating fire insurance companies on a basis of fair competition. Already we have assurance that this company will enjoy the fellow ship. good will and assistance of the majority of those companies that have done so much to aid and expand the commerce of our southland, so pregnant with natural resources to the advantage of property owners. Therefore, we should lend our support and influence to see that those corporations that have protected the property of our citizens during the time We were financially incapactated, will receive the same treatment at the hands of our law makers that we ask for our home institutions. I confidently predict that there will be no occasion for disappointment as to that.
 We lyive received letters from officials and representatives of leading fire in surance companies expressing a willing ness to assist us in every way possible in building up a strong home company thereby acknowledging their confidence In OUT ability. They realize that the Inter state" will, through it's 15O0 stockholders, wield potent influence In moulding and guiding legislation in the proper channel to the advantage of all concerned.
 Business Policies
 Tn concluding my remarks insofar as regards our relationship with our compet- itors, I can safely say that in co-operat- Ing with them we have everything to tn holt in us, and have confidence that this com pany will be operated by officers holding conservative views, and in accordance with the rules which govern those com panies that believe in peace and harmony and that have made a success and settled their losses fairly and promptly. The Interstate Fire Insurance company was organized on these lines and will be colducted for no other purpose than to furnish safe, reliable indemnity to it's pollcyholderS and return reasonable divi- dends to it's stockholders
 Less than 20 years ago 1t was positive ly asserted that whilst Alabama pos sessed the greatest natural resources in crude metals of any district thus far dis covered on the face of the earth, we would never be capable of producing steel on a commercial basis. That prediction has proven to be absolutely erroneous, and 1 believe l safe in stating that with fair show Alabama would df she is not already doing so) dictate the iron and steel market of the world. It Is en- tirely unnecessary for me To dilate on this subject, as my audience is familiar with what has happened and what is contem- plated for the future of this territory as regards the manufacture of steel and its by-products.
 Less than 20 years ago 1t was en- phatically claimed by both the northern | ,f,a f-l- rics that the south would never be able to compete in the manufacture of the finer grades. It is unnecessary for me to dwell on this point. You already have the anuwer, and 1t Is now a question whether the balance of the world will be able to compete with the south in the production of the products from the raw material
 ''The government census returns show that the greatest amount of capital in vested in this country Is in railroads, banking and insurance companies. The south has progressed satisfactorily as re- gard the construction of railroads, and we are advancing rapidly in the conduct of our banking institutions, but we have done nothing by comparison in the organ ization of fire insurance companies, which we must hasten to do if we hope to catch up with our neighbors. No people of any country can hope to keep pace with their competitors that do not employ their say ings at home, and invest them in the up. lift of their own enterprises.
 But for the insurance premiums that have rolled Into Hartford, Conn.,, that city would not today have the same inn portance that Selma, Ala, enjoys. They certainly have not the natural resources, and their wealth and prosperity is almost entirely due to the money that their stockholders receive from the profits of their investments in insurance stocks.
 Confidence in Enterprise
 We believe we are capable of making the Interstate" the largest and most successful fire insurance company in the south, and we will lend our assistance to the efforts of others willing to organize and conduct fire insurance companies on legitimate lines, in order that they may employ their assets in the development of the resources of our home states.
 q wish to impress upon the minds of everyone the fact that the south has the natural resources, and it has been proven that our people possess the brains and de- termination to accomplish anything that any other people can, and I have not the slightest doubt as to our ability to make a success of this undertaking.
 To-day we are furnishing clothing for one-half the inhabitants of the world. We are responsible for the balance of trade being in favor of the United States, as against all other nations. MetaphoricallY speaking, we are capable of building Chinese wall around the states of the south and at the same time dwell in lux ury With proper capital we could con- trol the iron and steel markets of the earth. We possess more hardwood timber and virgin soil than exists in all the other states of the union. Our water power. if developed, would turn every wheel of the universe Pensacola bay alone contains sufficient space to harbor the combined fleets of the oceans of the globe
 A Wise Providence
 Endowed as we are with the magnifi- cent blessings of a wise Providence, we have every reason to believe that we are capable of successfully employing our capital in the promotion of insurance com panies, which is the third greatest finan- cial avenue for the investment of our savings, and our company will not only return satisfactory results to It's stock holders. but will be credit to the city of Birmingham, the state of Alabama and to the land of Dixie"
 
 HINKLE IS ARRESTED
 Is Charged With Setting Fire to His