The Marietta journal and courier. (Marietta, Ga.) 1909-1918, 1916-08-25
FINALLY AND IN CONCLUSION

AAH MIL AMI AN OONNLU DUN,
Senator +. F. Dobbs, Of Marietta,
who is a candidate for comptroller
general against Colonel William A
Wright, publishes a card in We'd
nesday's Constitution in reply 10
Colonel Wright, of which the follow
ing, of particular interest in Angus
ia, is a part:
In the trial of the case of Brown
vs.. Empire Life Insurance Company
in Fulton superior court, there is a
stenographic transcript of evidence de-
livered by General Wright, under
oath on the stand, in which he says
in substance that about October 1,
1912, after the law Of 1912 became
effective, he sent his deputy insur-
ance commissioner, Mr. John A. Cope
land, to examine the records of the
Empire Life Insurance Company, Of
Atlanta, and that he found the com
pany impaired TO the extent Of about
$40, 900, that he notified Mr. Reed
president Of the company. that he
would have to make good this i'm
pairment by January lst, or that he,
General Wright, would take over the
company, as he had the right to do
under the law, and liquidate it. that
Mr.. Reed then went to Augusta and
sold stock in the Empire Life Insur-
ance Co at $50 a share, par value
the stock at three for one that Cen
era Wright knew was worth less
than par, because the company was
impaired more than 100000 And,
Notwithstanding the power he had,
and which he had threatened to use
on the Empire Life Insurance Com
pany, he sat by and quietly permitted,
knowing at the time that he was
permitting the Empire Life Insur-
ance Co, to swindle the people of
Augusta out of $250,000 by selling
them stock at $50 per share which
had only a par value Of $40 per
share, and was not worth par
In justice to Colonel Wright, who
was born ana reared in Augusta
and who, therefore, could have had
no thought Of seeing the people Of his
native city injured in this now ia
nous teal-l deal WelI-meaut. SO far
as the people OF Augusta were con
cerned-it should be explained that
the facts as above set forth were.
/ fully and frankly told by him to the
editor Of The Chronicle on the morn
ing Of June %, 1918, which was be-
fore the Augusta deal was finally rat
flied
AND furthermore, these facts were
related, in substance, by the editor
Of The Chronicle at a meeting Of
the stockholders Of the Empire Life
Insurance Company, held at noon Of
the same day--in ample time to save
the Augusta subscribers the $3.50
O0o that they had agreed to invest
in the stock of this company on a
misunderstanding as to it's true f.
nancial condition
For which well-meaut service the
editor of The Chronicle was very
generally denounced by the Angus
ia subscribers involved, or most of
them; to say nothing of the fact
that The Chronicle, for q period Of
two years or more, was made to
suffer loss of business out of re-
sentiment on the part Of certain of
these subscribers, for the action of
its editor in trying to avert this
disaster to Augusta
But, perhaps in view Of all that
has since trauspired, and the better
understanding that has come about
all around, we can afford to let that
pass We are entitled, however.
even at this late day to have the
record made olear-as above set
forth Augusta Chronicle, Aug
I'M. 1916.