The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1912-03-15

Lhout the Texas "'e 49,
WV. '.;.sl reproduces the following
f'',h, from the Stylus. published
...au ,r'I Texas, which shows what
',so'' lso are friendly to the Texas
/. ' .;a;ous attempt is being made
'n,,s srsst life insurance companies
syork to have the Robertson
Erased from the Texas statute
/ .,.ocv by which the attempt Is
'ssr 'ssnht to be made is the Associ-
h 'Ics Commercial Secretaries.
!, s,ss % for the repeal Of the law is
Y pta t;morous capital Of the big in
companies and other capital,
E',,.nged by harsh and unfriendly
[.;on, would, if such legislation
repealed, food the seA.., s'lciu =
ns,ket for Texas securities OF I'LL
and that in order tn secure this
1 for development purposes the
[t.ou Law ought to be slaugh-
.,.,;ovos that IL laws harsh
nfair and inimical to capital and
,oment are on the Texas statute
thew should be repealed. He
n see Northern capital in Texas
Northern people here. He would
! have doormat big enough to
the whole northern frontier OF
tate, with the words interviewer
h bie letters, "Welcome Blue
! and Yankee Dollars.
keyer, the writer believes, it
be good thing to examine care
this Trojan gift horse before tear
bwn the walls of our legislation to
room to receive it.
euce comes the impulse to destroy
Nv?
! should the attempt be made
would be the beneficiary as a
of the change?
MD the abolition Of the law bring
,em money to the development OF
Or take Texas money.to. the de-
ment Of the North?
\ would the center, of financial
II be shifted as a result Of making
hange? E25
lsO7, as a result Of the passage o1
lobertson Law in the form it, ther
,H life insurance companies, in
hg the three giant companies,
brew from the state.n e..
the time of their withdrawal they
objected in Texas nearly $40, 900,
This money went from Texas tt
1t was a flowing river whose
(es were a thousand tiny rills il
and whose mouth, largely in thu
Of tri-pronged delta, emptiet
Wall street.
this seventy millions of business
tied in premiums, the companie
paid back in policies about S23,
", and had loaned in Texas less
one million dollars.
fse facts are important becaus'
Mort is being made to restore con
Is under which the companies vol
ply invest in Texas, and not o
|ulsion, but when it was a matte
Nuntary investment they had nc
ted one-seventieth of their premi
in this state.
BAT has been the custom of the bi
|anies in making investments?
We they voluntarily pro-rated thei
tments in the territory from whiC
draw their incomes?
answer must be by an example
The example will be the compan
regarded as the biggest an
OF the giant companies, The Ne
Life. Here is the magnifcer
oOt IA per cent of the insurance {
Sew York Life is in force in Ne
State, but about 80 per cent of i
f'tate holdings and mortgage loa,
mat state. The remaining
ent Is mostly invested in countri
u The Investment is required
Inc same conditions obtain in Il
companies.
y we nave the fact of the palt
ss.ually invested in Texas VIII,
a.''er was optional with the cor
and the custom as to localiti
W y, the big companies for inves
iney make their Investments
= home as possible and under t
4. 'ae state under which they a
Just as the Texas comp
Ssnlzed under the laws of tt
laxe most Of their investmer
= sseuritiee.. That is good br
i ~ y human nature. This fl
a's y custom was exactly WI
= tas passage of the Roberts
the first place.
what is the provision Of ii