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Compulsory Insurance
Investment Bill
Senator Mann, Mcßae, Ga.
ARE you a voter of this State? If not, the
other fellow needs you; we don't. If you
are. listen and think. There never was a time
when the voters ofGeorgia should stand together
as they should right now---not tomorrow, but ffgA/
now. Therefore, sit down right now, not tomor
row, and write, telegraph or otherwise commu
nicate, at my expense, and by all means right
now, with your senator or legislator, especially
with the Judiciary Committee, Senator Mann,
of Mcßae, Ga., who is driving the bill, also Se
nators Sheppard, Blalock, Marshall, Edwards,
Davis, Dickerson, Crawford, Roberts, Judge
Bush. Ennis, Eelker and Copeland, to see that
the Compulsory Insurance Investment bill is
passed this session.
Th is bill, after successive postponements,
was first heard last Wednesday, when one after
another left the committee room, and finally
Col. Roberts, of Douglasville, chairman of the
committee, left the room offering no ex
cuse. thereby destroying the quorum; how
ever, the remaining committee set the time for
hearing nothing else but this bill Thursday after
noon at 2 o’clock, when Col. Roberts, the
same man. exclaimed, “Thank God! the ayes
have it!” when his vote determined the post
ponement of this measure until next Monday
afternoon.
W hat his motive was nobody asked, but
everybody presumed, which, of course, looks like
its destruction to me. So far a hearing of this
bill has been denied. Why?
Clark Howell, who is brother-in-law to
a representative of an Eastern Company,
wrote a letter to this committee to post
pone action and it was done. What have
the Eastern Companies got to do with Georgia
legislation concerning the interest and welfare
ofGeorgia citizenship? We will never amount
to anything if we listen to this kind of sugges
tion. Why is it that Mr. Howell takes the
stand against Southern Insurance Companies?
1 and my children and my father and my
grandfather were born in Georgia, therefore
You, Neighbor,You!
JOEL F. ARMISTEAD
General Agent Cosmopolitan Life Insurance Company
THE ATLANTA GEORGIAN AND #EWS.
my interest is here because I am a Georgian,
consequently I am talking to you about what I
know, not what I think; and what I know is by
experience, I assure you.
Read and reread the following four pages
to know what this bill means to Georgia as it
has meant to Texas. See to it that your rep
resentatives, whether in senate or house
support this measure; it means millions of dollars
invested in Georgia securities, and justly so.
.If you are good enough for Eastern com
panies to insure, your securities are good enough
? or them to loan money on. Why should they
impoverish your community when the interest
earning in Georgia is greater than that of their
community? Southern Insurance Companies
will and do invest their funds in Southern secu
rities. Why not they?
This Bill only requires Eastern companies
to invest in Georgia securities one-third of their
oremium income, or the amount you pay them,
eaving two-thirds to invest at home.
There are 57 old line companies in the
fourteen Southern states, and there are even
157 companies other than Southern. The
total assets of 57 Southern companies amount
to 44 millions; the total assets of all companies
amount to practically four billion dollars. Every
time we get one dollar out of this territory
they get one hundred dollars; therefore, if pref
erence is shown, let it be to local companies.
In other words, make laws for Georgia, not
New England.
It is a fact that Eastern companies do not
invest in Georgia securities as they should, there
fore make them do it. The average interest
earning, according to their sworn statement, is
4.18 per cent; wouldn’t you apply for some at
6 per cent? Make them do it---we only ask for
one-third of what we give them; that’s fair.isn’t
it? Lose no time but insist upon the passage
of the Compulsory Investment Law as Senator
Mann, of Mcßae, Ga., has introduced.
WTite your representatives this very minute;
don’t put it off’till tomorrow.
Compulsory Insurance
Investment Bill
Senator Mann, Mcßae, Ga.