The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1915-04-22
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Bull COX'S LETTER.
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| law be amended? is question
which is agitating the law making
bodies of the state OF Texes.
A few years ago what is known
as the Robertson bin was enacted
| by the Texas legislature. 1t pro-
yides that life Insurance companies
doing business in Texas shall invest
| IS per cent OF the surplus on Texas
business in Texas securities and also
for the payment OF an income tax,
| believe.
When the bill became a law the
New York Life and several other
| large companies folded their tents
and moved out Of the state, alleging
as a reason that they could not COM
ply with the provisions OF the law,
Others remained and since that
time several domestic companies
have been organized, and seem to be
doing thriving business
And now come the foreign COM
panies and demand that law
which has resulted in the organize
ton and development of home com
| panies be so amended as to let them
come back without the payment of
the taxes other companies have been
paying these years. They refused to
invest their Texas surplus in Texas
securities, but now they tell Gov.
Ferguson they will loan millions
here within the next few years if
| they are permitted to return. The
/ fight goes merrily on, the home com
panies furnish the sineWs Of war to
| fight against any amendment Of the
| law and the outlawed foreign COM
panies put up the money TO put the
Gibson bill through. The fight has
been, is and will be between the
aforesaid outlaWed foreign com
! battle-ground, the Texas legislature
and at the bar Of public opinion.
Neither side Of the controversy
cares fer the welfare of Texas but
are actuated by self-interest. The
question arises what would be for
the best interest Of the masses for
they should be considered Texas
! has, from time immemorial been
sending to Kansas for meat and
1 ,,,,i. fnr nd
nolasses. to New York for life i'll
s1rance and somewhere out of the
state for all it uses, The life in
snrauCe companies have never sent
back TO US amy thing near what they
| have gotten from US but have used
our money to finance trust COM
panies, corrupt politics and pay
princely salaries and when called
upon to even invest reasonable
per cent of their surplus on Texas
business in Texas securities they re
fused and left the state Our home
companies in the past few years
have made wonderful progress and
are laying up surplus. This sur
Plus will be invested doubtless at
home. Therefore why bow to the
dictation of a few foreign corpora
lions in order to get a small por-
ton of their surplus when we are
the funds of the home compaHies2
Would it not be very good idea in
this instance to adopt as our slo-
gan. Keep Texas Money in Texas.
This subject is too large to handle
in This letter but in view of the fact
that the subject is being discussed
throughout the state and having dis
covered that both sides have their
representatives in all representative
bodies could not refrain from talk
ing earsory view Of the question
when H doubt about a matter OF the
sind see who is on which side and
You are not liable to go far wrong
II YOU know your men Well.
D. N Grutcher from Pluto was
.Iotns business here last Monday
Tuesday before starting out had 1t
lIeas4uE and profitable meeting With
u b Aa4 from WaNah4eaic 6. Al
f.uue Elm mot aud conquered
4ska nHehay. tine looking farm
sf. Cesf-e West the Lone elm
merchant aaa gone ,e WaNaharhle
aad Mrs Nrst 8aa attending to the
farr fhes haye neat little stask
pot 4ooi and seem 90 ue IoiuE we'll
~ ar bamc ot Sir aut Mrs VIII
itn-.f ilau, III contact 0th aud
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