The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1915-07-12
|sOnf FACTS M6ln0Ns Tk
R0DfRIs0n INSURANCE In
REPRESENTATIVE or 4 fOR-
EIGN INSURANCE COMPANY
SUBMITS VIEWS.

WA-NAHACniE, itSs, Sosy A"e"'
Isi5.-At the request Of many Of
my friends. have consented to give
to the public some facts. also my
opinion. (which is from the view
point of a representative OF a fer
eign- life insurance company In re-
gard TO the Robertson Insurance
law, which has been SO much dis
cussed during the past few months.
In the beginning l will state that
II is generally known that the last
special session of the legislature
spent about twenty days time a1d
approximately $4,000 OF the peo-
pies money I'm a desperate attempt
to repeal the Robertson Insurance
law, and 1t is understood by every
one that another attempt will be
made this fall to repeal this law. in
fact the next special session, | be-
lieve, will be called solely for that
purpose, as l have every reason to
believe that all the business held
over at the last called session could
have been finished within twenty
four hours.
1t is also known that If this mat
ter is deferred till the next regular
session of the legislature convenes
(January, 1910 the people will
have an opportunity to re-elect rep
resentatives and the Robertson In
surance law will no doubt be one
of the principal issues in the cam
lpaign. The New England companies
seek to repeal this law solely from
Ia selfish viewpoint, knowing as they
do that If this character Of legisla-
ltion is not checked il will only be
a short time until it will be neces-
sary for them to invest the money
on securities held by the people
that they have so long been collect
ing premiums from and handling in
their own pet" promotion schemes
The Robertson law, as ! see it. an
swers the same purpose for the dis
tribution of finances of this coun-
TRY as does the Regional Reserve
banks. These companies claim
THAT they wish to have the compul-
sorry investment feature OF the law
repealed in order that they may re-
enter the state for the purpose OF
Looming money. Every man that is
posted knows that under the proyis-
right TO loan money in Texas In any
lamounts that they care to loan. Ii
IS also known by every one that is
informed on the subject that the
reason these companies left the state
was because they refused TO loan
money on Texas securities, and when
you understand that these companies
had been here all these years prior
to 1907-the year the Robertson
law was enacted-and had collected
approximately 500. zoo, 100000 from
Texas poliey-holders and had invest
ed in Texas real estate mortgages
the pitiful sum of only 5000, 0g0 90
il is easy to understand their mo-
tives. And as matter of fact II
is a reflection upon the intelligence
of the people of the state of Texas
to assume that they are ignorant on
1.-The subject and can be deceived in
Iany such manner There is being
lloaned annually in Texas by life in
lsurance companies at this time APP
proximately $4,000, 10000. which
amount will increase each year.
The situation becomes more ridi-
Iculous when you understand that
he assets of all the life insurance
companies of the United States on
December 31st, 1918, amounted to
IS4,e67, GOES 100000 and that the as
sets of companies with their home
offices within radius of 100 miles
of Walr Street, New York City,
lamounted to s3,556, 600, 100000 or
seventy-five per cent of the total.
Here are assets of some millions OF
people living throughout the United
States which are controlled, be-
lieye | can say without exaggeration
by less than score of men. The
situation becomes even more ridicu-
lous when YOU understand that
about ninety per cent OF the total
income OF these monster institutions
comes from beyond the borders of
their home state.
Considering the merits OF the