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6 COURT SANCTIONS RE-INSURANCE TRADE CHEROKEE LIFE Is Permitted toTakeOver Insur= ance and Certain Assets From Rome Insurance Company Security As Well As Size There have been on deposit with the State Treasurer of Georgia for the better protection of policyholders, state, county and munici pal bonds, approved by the treasurer, as follows: Cherokee Life (par value) SIOO,OOO Rome Life (par value) SIOO,OOO The CHEROKEE LIFE, with the business of the two companies consolidated will continue the legal deposit of securities. Having already embraced the compulsory deposit laws, it will make addi tional deposits, from time to time, to follow its established practice, sanctioned by law, of making all its policy contracts. Safe As National Bank Notes A National Bank Note circulates in every part of the country without question as to its security, because it is protected by a de posit of acceptable securities made with the government. In similar manner every policy issued by the CHEROKEE LIFE INSUR ANCE COMPANY, of Rome. Georgia, is secured by a deposit of its entire reserve with the State of Georgia. Protected By Georgia Laws The laws of Georgia give to old line life insurance companies the option of depositing with the State Treasurer acceptable securities equal to the net cash values of all policies in force. Once embraced, the continuance of stich deposit, with necessary accumulations, be comes compulsory. Since the law was passed in 190(1, only two com panies in Georgia have embraced its provisions. The CHEROKEE LIFE, of Rome, Georgia, is one of those companies. The laws of Georgia provide specifically the character of se curities in which an insurance company may invest its funds, such investments being limited to state, county and municipal bonds, home office building and deeds of trust on improved real estate worth, in each instance, at least twice the amount of the loan. I nder the compulsory deposit law, governing the investment of funds and their custody, solvency is absolutely guaranteed and the policyholder holds a contract that is safe as a National Bank Note. STATE OF GEORGIA, INSURANCE DEPARTMENT, STATE CAPITOL. Atlanta, Georgia, March 27, 1912. I,William A. Wright, Comptroller General and Ex-Officio Insurance Commissioner of the State of Georgia, certify that the net reserve value of policies issued by the CHEROKEE LIFE INSURANCE COMPANY, of Rome, Georgia, is secured by a deposit of acceptable securities in ■■ accordance with the compulsory reserve deposit laws of this State enacted in the year 1906. Given under my hand and the seal of this office, ■■ the day and year first above written. J) WM A. WRIGHT Comptroller General and Ex Officio Insurance Commissioner. This is the Certificate that protects the Cherokee Life Policyholders. Ordinary Department LLOYD DAMRON Director of Agencies Cherokee Life Building, Rome, Ga. CHEROKEE LIFE INSURANCE COMPANY=Head Office, Rome, Georgia H. G. BOWIE, President R. M. HARPER, 1 reasurer THE ATLANTA GEORGIAN AND NEWS.SATURDAY, AUGUST, 24 1912. Rome Newspapers Say Policyholders Are Secure (From The Rome Press.) By dissolving the injunction by which it was sought to restrain the Cherokee Life Insurance Company from taking over and admin istering the policies of insurance and certain of the assets of the Rome Insurance Company, the court has given full sanction to the merger of the business of the two companies and the Cherokee Life is given free hand in carrying the re-insured policies of insurance. As usual, in proceedings of this kind, the policyholder first was thought of and his interests and right have been safeguarded under the law. - , The Press has carefully probed the local insurance situation from all angles and hastens to assure its readers and impress on the public mind that the real integrity of the insurance situation in Rome is unaffected by litigation. The receivership for the Rome Insurance Company means that after its policies of insurance have been trans ferred and the policyholders protected, a receiver has been appointed to wind up the affairs of the Rome Insurance Company and to assem ble a maximum of assets for distribution among the stockholders. It was inevitable that the suit for injunction should follow the re-insirranCe trade. Every such re-insurance deal is followed by pro tests from some stockholder. It is inevitable also, however, that , every public official and every court hastens to surround policyhold ers with protection. Perhaps that is why no legal reserve insurance company in the United States, in the last fifty years, has failed in respect to its obligations to policyholders. The fight among individual stockholders may continue, the re ceiver may or may not start new litigation, but the policyholders are safe. The Press advises them strongly against listening to specious arguments by agents of competing companies, who are bent on trans ferring policies for their own benefit to their own companies, and The Press also feels warranted in the assertion that a re-adjustment of the affairs of local insurance companies is calculated to improve rather than to injure the local insurance situation. This is a time for constructive talent. It is no time for destruct ive genius. (From The Rome Tribune-Herald.) POLICYHOLDERS ARE AMPLY PROTECTED. Whatever may be the outcome of the insurance litigation; and in advance of a legal decision of ttie matter people should not make up their mind one way or the other; The Tribune-Herald does not be lieve that there is any possibility of loss to the policyholders in any company The laws of Georgia and of other states, provide protection for the policy holder. Not in many years has a legal reserve company failed to fulfill its obligations to its policyholders. Even though the company for some reason or other ceases to do business, the policy holders are reinsured. This newspaper has investigated the matter and does not believe that there is any cause for alarm among policy holders. It would not advise any policyholder to drop the policy he has held because of any present litigation. • ■ ■ - ' ill ■ I I I Striking Figures Disclosing Growth of the Cherokee Life in Six Months TAKEN FROM SWORN REPORTS FILED WITH THE OFFIC= lALS OF THE STATE OF GEORGIA AND OTHER STATES Growth of Surplus in Six Months December 31,1Q11 ===Surplus $251,787.77 June 30,1912 ===Surplus $448,380.50 Growth of Insurance in Force in Six Months December 31,1911, Insurance in Force, $3,531,387.00 June 30, 1912 Insurance in Force $15,375,394.00 Industrial Department B. L. BURWELL Director of Agencies 811 Empire Life Building, Atlanta G. K. HENSHALL, Secretary MILES M. DAWSON, Consulting Actuary Premium Revision Downward There was a tariff revision down ward promise made famous by failure of achievement. It was a platform promise. The Cherokee Life offers pre mium revision downward. It will become famous by achievement. It is a contract guarantee. Do you appreciate the potency of rates of interest on investments in the general scheme of life in surance? Do you appreciate the advantages enjoyed over competitors by a Southern company that earns liberal rates of interest on South ern mortgages? Insurance men especially are invited to write for folders that clearly explain the Cherokee method of bringing about Premium Revis ion Downward. E. L. BRADLEY Superintendent Atlanta District 810-814 Empire Life Building Atlanta, Ga.