Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-06-07
COMPANY IS
PROSPEROUS
PARTNER
SAYS
Insurance Agents Helped Painter
Figure How He Could
Pay Premiums,
By COLE E. MORGAN

JACKSONVILLE. FLA. June g.
The analysis of E o. Painters vital
organs has been completed in Balti-
more and the report is expected to
reach the Barnett National Bank on
Saturday. 1t will come under seal
and be delivered by the bank jointly
TO Coroner c. d. Abbott and Judge @.
c. Hamlin, who was Painters attor-
ney for 80 years.
Coroner Abbott said to-day he
would not open the report or take Il
from the bank until he had sum
moned the jury to complete the in
quest on Painters death.
DR.. J. E. Boyd and DR.. P. c. Perry,
the physicians who performed the
autopsy on Painters body and went
to Baltmore 70 remain through the
analyst. vert Baltimore last night 90
are due in Jacksonville tonight DR..
Boyd is the Painter family physician
and he and DIT Perry have been act
ing IN TINS case ADl A4lE AaAAliaFs
Judge Hamlin Explains.
The explanation offered by Judge
Hamlin for the hasty autopsy was
that because OF the large amount Of
insurance carried by Painter, it was
considered essential, from a legal
standpoint, to have the exact cause
Of death clearly established and be
prepared. should the Insurance COM
panies resist payment on the policies
He said they wanted this evidence
before an opportunity was offered any
underling Of an insurance company
to drug" the body and plant" evil
dence to indicate suicide.
Cecil Wilcox, general agent Of the
Mutual Life Insurance Company in
Jacksonville, wrote the S502,O0 in
surance Painter took out with that
company this year He is president
of the Children's Home Society, Pain
tiers favorite charity, Of which he was
secretary. They had been intimately
associated in this work and Wilcox
locked upon Painter as a man Of un-
questioned integrity. He did not sus-
pect any plot in Painters seeking so
much insurance. He was not aware
of all the other policies being taken
out.
Figured for the Agent.
Painters premiums on his mutual
policies would have cost about S26,-
900 a year. There was a 20 per cent
discount allowed. netting about $2l,-
900 annually Painter figured out TO
Wncoxs satisfaction nov ne could
carry this much insurance. With a
salary Of $4,000 a year as president
OF the f. O. Painter Fertilizer Com
pany and $4,000 a year income from
$50 shares Of tbs fertilizer stock,
there was left a margin Of $4,000 am
nually for living expenses above the
$4,000 premiums.
But before the Mutual wrote these
policies an inspector and a medical
examiner were sent 10 Jacksonville
from the company's home office. and
they made the investigations and eX-
animation that satisfied them.
Painter explained TO Wilcox his
plan TO increase the capitalization Of
the company TO about 100000, argu-
ing that his earnings would be in
creased and he would receive "a large
block Of this new stock as a dividend
on his old stock June 3 was the date
set for the stockholders 10 pass on
this new stock issue. some OF the d!-
rectors OF the company opposed such
a large stock increase, but Painter
that they were not fully
informed on the possibilities Of the
business growing and paying divi-
bends on a capitalization this large
Agent Helped Figure.
According To- D. \. Morrison. Jr,
secretary Of the fertilizer company,
Mr.. Comfort OF Blood & Comfort, in
surance agents who placed most of
the other half million policies. inquired
with Painter and showed how he
could carry q half million Insurance
C.~.i.-...I -, -5sra , CoIfln1o