The Birmingham age-herald., 1910-09-01
STOCKHOLDERS OF
 INTERSTATE MEET
Flattering Reports on New Fire
 Insurance Company
REYNOLDS MAKES TALK
Vice President and General Manager Points Out Importance of Keeping Money at Home By Patron-
 izing Home Companies

The officers and stockholders of the In terstate Fire Insurance company of Br- mingham held an enthusiastic meeting yesterday at the Country club. Some thing over four hundred stockholders were present or represented by proxy Nearly one hundred were present in person.
 The business meeting was followed by a luncheon, during which several of the officers and others made enthusiastic addresses, outlining the prospects for the company. The leading address was by w. l.. Reynolds. vice president and gen. eral manager of the company.
 The business meeting was most har- monious and was very gratifying to the officers in view of the fact that this is a new company just now ready TOT business and many important questions were up for consideration. All the pre- liminary work that had been done by the officials was unanimously ratlhed pS the stockholders. President B. H. Cooper renorted that the state insurance com lIllSSlOIeI lepoit iitho DSNii that everything was satisfactory. The company is now ready to begin busi- ness.
 Will Increase Board
 The present board of directors was au- thorized to increase it's membership UT to 25. The company was organized April | 1910. with a capital stock of $5Oo,0oO The officers are B. H. Cooper, president w. L. Reynolds, vice president and gen. eral manager; A. M ThrocNmorton, sec retary; John l.. Parker, treasurer; A. C. and A. D. Smith, general counsel.
 The meeting was called to ,rder shortly before 1 o'clock at the Country club by President Cooper. After the calling ot the roll of stockholders the president dentials was appointed to examine anc report on the proxies. The meeting ther adjourned till 2:90 O clock for the luncheon which was served in the main dining room.
 The Speakers President Cooper acted as toastmaster Among the speakers were: W. L. Key holds, pr. R. M. Fletcher of Birming- ham. T. w. Peagler of Greenville, Me Lane Triton of Pell City, Ex-Congress man Tom S. Plowman of Talladega, Johr L. Parker of Birmingham and Claude L Norris of Birmingham.
 All the speakers were enthusiastic ovel the prospects for the future of the com pany. Vice President Reynolds address
 
 pectus and was carefully prepared l dwelt at length on the need for stront home companies, the opportunities fo such companies in Birmingham and thu south, and also outlined some of the poll cies on which the business will be con ducted.
 The speech was convincing and was we'll received by the stockholders
 The banquet was an elegant affair ant was thoroughly enjoyed by all present. Executive Session After the repast the business meeting was continued in executive session. There was not one jar In the proceedings. Ev- erybody interested seemed to impose all confidence In the ability and wisdom Of the officers they had accepted and con firmed this by ratifying everything that had been done by the officials in launch ing the company.
 The Interstate Fire Insurance company of Birmingham is now ready for busi- ness and the prospects are bright. Every stockholder, and they are scattered over Alabama and several of the adjoining states, has gone to work for the interests of the company, or in other words, is an agent.
 This is the second fire insurance com many to be organized in Birmingham and it Is being accorded o hearty welcome in the business community.
 Following is the address delivered by W. L. Reynolds:
 Mir. Reynolds Address
 Tn the management of the Interstate Fire Insurance company we propose to deal with business problems as they arise. in technical, cold-blooded, mechanical fashion, in the same manner that they are conducted by other corporations that have made a success.
 AS reBardS the company dSSetS, l can assure you that the same will be invested in high grade securities, con sisting of first mortgages on central realty, and dividend paying stocks nego- tiable at any bank in America located in the financial centers, and of class that will be approved by the insurance com missioners of the various states In which this company may enter. Not one dol lar will be invested in a speculative deal of any character whatsoever.
 There is not an intelligent well in formed man in this uni on who would waste his time in a serious argument in an effort to combat the fact that the south possesses an advantage over other sections of our country, when considering natural resources. Just here I w.sh to remind you that we havO, as a matter of comparison, no reason to apologize to our fellow man, north, east or west, from any standpoint, Intellectually, nor ally or physically. No one will gainsay that the south has furnished its quota of men of genius. Therefore, 1t would be useless and tiresome to individualize, and my only purpose in referring to the rec ords of our antecedents and men of af- fairs of the present day is 10 impress upon you the fact that we are, as a people, a very important part of this great union, and as a result of our in- heritance and achievement have a legiti- mate right to aspire to commercial and financial equality with other sections of our common country. The time has ar- rived when we must assert our inde-