Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1912-07-30

this state in Georgia securities, we per-
NIT them to take home 65 per cent to
invest in home securities. Mr. Quinn
continues to explode that somebody has
got to pay for the six pages of adj
vertisement used In The Journal and
The Georgian. This is true since l
have assured both of these mediums
that they would receive my personal
check for same. since my company had
nothing to do with it in the least |
did not even ask the consent of my
company to express my thoughts to the
people. Mr. Quinn continually insists
that every tub must stand on its own
bottom, and that my efforts are to de-
stroy competition Then why not his
company, together with other Eastern
companies, do what we are doing and
operate under the same laws that we
operate under through preference? 1t
is a fact that oVertures were made last
Thursday night that if we would with
draw this bill they would see to it that
any Objectionable feature to the general
insurance bill and the blue sky law
of Kansas" bill would be stricken Now
to make my position perfectly clear. l
will state under oath that | have writ
ten every state in the union for their
insurance laws, realizing that our In
surance laws at the present time are In
adequate. Furthermore, / wrote to Kan
sas and obtained a copy of what is
known as the blue sky law" l have
urged my friends to pass these bills
II possible Some of the members of
. the judiciary committee are among
those that | ask to support this meas
ure. Now the only objection that /
have to the general insurance bill, is
that 1t is not nearly strong enough and
does not fully protect the policy holders
of this state as it should BY no means
does it afford the protection that the
compulsory deposit law Of this state,
which we operate under affords viii
Mr.. Guinn's company operate under this
same law in its home state? If not,
why not? Therefore, if there is any
thing that they can do for us in the
passage of the general insurance bill
be sure that they made it stronger in
every respect, especially as to the pro
lection of its policyholders In this state
As to the blue sky law, 1t will please
us very much to see 1t go through just
as it is.
The final appeal of the Eastern com
panies is to its polcyholders. AS to
their sincerity. lets see. When they in
vest at lower rates in Northern and
Western securities the reserve which
belongs to Georgia and Southern pol
ny uoiuelS > are tney uOlnS Inelr DUTY
and conserving the best interest of
their policyholders in this territory
In other words if we will pay them Z
per cent for their money would they
not return better dividends on our pol
icies than by investing for less rate
elsewhere? According to Colonel Ed
gar Watkins statement that the rate
of interest had advanced how could the
Eastern companies object to investing
at least 80 per cent of their premium
in Southern securities. providing we
make them, without feeling inclined to
withdraw from our territory Abso-
lutely there is no argument on their
side, and they know it. and the Geor-
gians that represent them know it,
Their only recourse is, their "brazen''
bluff, as Mr. Quinn puts it.
JOEL F. ARMISTEAD.
General Agent Cosmopolitan Life In
surance Company. **@