The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1921-09-30

Some weeks ago, in discussing the fire insurance situation in
issippi Fire Insurance Company. and incidentally made some
comment upon what its success means to the business he OF
how very favorably this fire insurance company is being regard
ed by the Mississippi public.
Mississippi business interests have $ long been IN a OFT u
financial bondage to New York and other eastern centers, that
permanent release from that bondage is possible. We have so
long gone with our hats in hand to New York and there, as it
carry on the commerce of our state, that a sort of fear begets
us when anybody asserts that anything else is possible. We talk
about the chains that fetter us ~ business, That make 1t lmpOS-
sible to realize the full value of our cotton, that make our banks
pay tribute to New York and other eastern bankers, yet we have
persisted in the same rules of conduct that mold these chains:
In truth, we have been sort of hoodooed into thinking that all
the financial and business wisdom of the country conferred in the
East. We have acted as if we believed that we must toll and
sweat in Mississippi, but that when it came to caring for any
little surplus money that we might have, we must let New York
bankers do that. 1t is time that this should stop We do not
Mississippi who will hold that any set of business men or fnan-
ciers in the East have more business acumen or foresight than q
The organization of the Mississippi Fire Insurance Company
,wnsa "a sort of patriG hjG d ivfhd+ the f saah ths and nfat Lo w;t% t 1re e m
dent purpose of leaving the people OF Mississippi without fire
Fire Insurance Company, and they are among the States most
successful, got together and at once-they did not halt and
doubt-launched the Mississippi Fire Insurance Company to
care for the people of the State in case OF fire. They deserve
every encouragement for the bold ard patriotic step they took
and it gives us pleasure, and renews our faith in the good Judg-
ment of our people, to note tina. the success OF the company has
The laws of Mississippi have been very wisely written so as
to hedge al insurance companies about with the necessary re
now against badly managed and defunct banks, and in a some
what similar way, the law protects insurers against badly dl-
The Mississippi Fire Insurance Company will keep in Miss
iSSippi the money it receives from premiums; 1t Will invest 1t III
Mississippi securities or Mississippi property. 1t will not SEND
it to New York where it will be loaned back to our own people
on embarrassing conditions. or at high rates of interest. The
Mississippi Fire Insurance Company is interested in developing
Mississippi and it will direct its affairs to that end.
The Company is wisely differed and while We do not de-
sire to make any invidious distinctions b. referring alone to the
President. Hon. Geo. A. Wilson, Of Greenwood, yet we think
he stands out 50 prominently in Mississippi as q success as d
lawyer, as a public official, as a banker and planter that we feel
that tit Is meet and proper to especially commend the good Iudg-
ment Of the Company in placing him at its head. He Is far
seeing and wise in counsel and discreet in execution.
We congratulate the Mississippi Fire Insurance Company on
its suspicious beginning. We congratulate the business inter
ests of the State who I SO generously patronizing it. 1t is a
matter worthy of felctation not only in Mississippi, but to the
whole South and is but the beginning of a new day in fire in
surance history and business OF the South. Let's all work to-
gether to keep the money in Mississippi.