The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1915-07-20

3 1 recent issue of the Daily
s j noticed the article dated
1915, by Mr.. f.. F. Phil
8VUo says that ut the request
/ 0mX Of his friends he makes
J otribution.
x&Gpo not been requested by any
II ~ friends TO write this, but
n WeU1ng il to defend my candi-
~ ~ the legislature against the
11oGDk ~ life insurance men whose
l19r would be jeopardized by the
1nx Insurance legislation were 1t
@o6f into law. l regret that in
1Ir operation to defend their
0XE 114oFest that the life insurance
oUGqcj 1ave seen proper to go bitter
T ii 01DGoe my candidacy. The Great
D61x14u Life Insurance Company
~ G0npany that charges our citi-
~ : Der cent and 10 per cent for
UomGx md loans II in Oklahoma for
4 & - c9nt. is sufficiently interested
= - 0UVNsNS agents cdIiNdSs tniS couH-
e4 W1t4 literature adorned with the
r&6fnr0o of the seventeen men who
tN1n1 lore of the interest of the
4lafe Insurance companies than
t1 so Of the interest of the pco-
III ~ am proud to note that the
D<4 of that magnificent chris
E0n1 1tleman and distinguished
lxEor. our own Senator Nor
mot among the bunch.
Phillips says he represents
life insurance company and
tG6& ~ writes this article for the
II oGoo that he wants TO make it
yGk1Uc11y clear that the foreign life
s1nSo414ce companies doing business
n I0xns do not object TO the Rob-
ort6o0 Insurance Law
He 1ays there are forty life insur-
4 Apee eompanies now doing business
IA TEXAS; he fails to state the size
d he companies. The truth is.
\ 1o4 of the Union Central, the
) 0t60a and the Pacific Mutual. which
8 V1664pmpanies write life insurance
1 n tnle state: all of these companies
afo comparatively small. The three
uboy0 named companies are opposed
to the principle of compulsory in
veetmonts as prescribed in the Rob-
ertoon Law. and each of them were
n fsyor of the Gibson Bill and en-
cooraGod it's passage.
Nh Phillips states that the total
assets OF all the life insurance COM
peniea In the United States is $4,-
So. ao0. 100000 he did not, howev-
or. state that the total assets Of all
the companies now doing business in
Texas was only $435, 900, 900 90.
The total assets of the three COM
panie8 above mentioned is $685.
o0o, 10000 in round figures, leaving
the total assets of all the other thir-
ty-eix companies now doing bust
ne1a h Texas, which companies can
~ properly classed as in favor of the
Robortson Law. though some of
them DO object to it in principle, at
only 4l78. 600, 100000 in round fig
ureo
me seventeen companies who
would return to this state were the
0loepn bill enacted. have total assets
~ almost $4,000, 900. 100000; all of
thnoo companies are mutual COM
poMieo. or practically so. That is to
~ they do not have to pay divi-
4rn4e to stockholders; only one of
ESou the Equitable of New York,
sAoe my outstanding stock, and it
MAINLY $100,0O0.00 of outstanding
n land $550.00O. 100000 of as
aGe1 and the stockholders are linn
M ~ nominal dividend of per
eo9e In other words. out of the
3n1014 assets OF this company. the
HOlders can only get $1,000
Z 30R year as a maximum dividend.
sare now on foot to retire this
10000 of stock and make ii a
company when this is done.
the seventeen companies with
reat aggregation OF assets will