The daily times. [volume] (Wilson, N.C.) 1902-1936, 1919-05-16
INSURANCE COM.
JAMES YOUNG
Delivers Interesting Address
On Subject of Fire Insur-
ance that is Worthy of
YOUR SERIOUS ATTENTION
YOUR SERIOUS ATTENTION

Those who failed to hear State
Insurance Commissioner Young
in the court house last night mis-
sed an address that is of exceed
ing great value, for Mr.. Young en-
deavered to eliminate the common
notion that fire insurance is mere
ly a speculative proposition and
that fire insurance is carried to
make money either by the company
of the individual, but that fire and
life insurance in its true sense is
a real business worked out along
mathem atical lines and practically
ries insurance either on his life or
| his property is doing it not to
make money but simply for protec-
/ ton, in the case of fire that the
| savings of life time might not be
swept away and in case of life in
surance that in the event of his
death his estate might not be so
greatly involved in debts seeking
| liquidation, and at forced sales of
his substance his family would
be robbed of the fruits of his Ia
ho-.
I For that reaoson Mr.. Young en-
| phasizes the fact that the owner of
| property is not allowed to insure his
property for more than three fourths
of its value, and so the man who
| secures life insurance his risk is
/ estimated on his expectancy of life,
or the length of time he will live
| unless some unforeseen event that
| are not in the Medical Journal
should happen. If has has and dis
ease that is liable to take him Off
quickly the insurance companies
do not want his risk. Therefore
said he insurance is a business work
ed out in a systematic sensible way
according to the outlay AID the in
come and the fire hazard, and the
life hazard, and communities an6
individuals must realize this that is
what my department is trying te
do, in order to get every indivi-
dual and every community to {
will reduce the risk, every time the.
care for their health it will reduc'
the cost of life insurance, and ev
cry time building is ere <ed care
fully and along scientific and prop
erly approved lines, and store
keepers and housewives keep thei
premises clean and sanitary the,
are reducing the fire hazard, AM
every time city has a paid fir
! department and approved fire fight
ing apparatus they are doing jus
that much towards reducing the cos
! of insurance and eliminating tn
necessity for insurance.
) Mr.. Young was ably introduced b
: Mr.. Garry Fulghum President G
the Merchants Association under tn
auspices the Insurance Commissions
: of North Carolina who is giving a
: of his time and life to the work c
making our people think along thes
l lines was invited to come to Wi
1 son to talk about rates and the bes
e way to secure their reduction.
Mr.. Fulghum dep1ored the lac
of interest in the matter as Gen
onstrated by the small number i
attendance. He paid Mr.. YoUn
and his department a high comp1
( ment and the very fact that he cam
q all the way from Raleigh to talk t
us and that some who should b
interested are not here indicates tt
= Indifference in the point of view.
After expressing his pleasure
y being present, he sand that he VIZ
sure of every man, woman and chill
in Wilson knew what insurant
e meant and the purpose of it eac
and everyone would be present.
: The Insurance business said l
e is one of the largest in the world
/ The insurance companies have r
sources of two billion of dolla
and accumulated surp1uses of seye
billions of dollars, and they are co
ry1ng contracts on the lives ar
property of 5O,00e,000 people.
Every shipment of goods, eHel
Y factory, and every merchant is d
VI pendent on the insurance compani
d for credit, and unless mercha,
or manufacturer carries insuran