Newspaper Page Text
SUNDAY, NOVEMBER IS*
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Complete Vindication For Empire Lite Insurance Company
ENEMIES OF THE EMPIRE FIFE GET FLAT TURN DOWN
FROM GEORGIA INSURANCE BOARD IN DECISION DENTING
UNCONDITIONALLY THEIR APPLICATION FOR RECEIVERSHIP
The Empire Will Be Given Cordial Welcome in Augusta—Com
pany’s Headquarters Probably to Be Moved Here Within
a Short Time
AUGUSTANS HAVE LOYALLY SUPPORTED
COMPANY; ARE GLAD TO HAVE IT COME HERE
An Augusta Institution the Empire Will Have Splendid Suc
cess---Company Has Had Many Enemies to Contend With,
But Wins Great Victory in Fight For Existence.
The welcome news was recetved In
Augusta yesterday afternoon that The
Empire Life Insurance Company has
been completely vindicated by the state
Insurance board composed of the gover
nor, the attorney general and the state
Insurance commissioner. It Is expected
that within a very short time the offices
of the company will be moved to Au
gusta.
There will be a meeting of the board
of directors of the company held In Au
gusta on Tuesday next, November 17th(
when the definite date for moving here
will be settled upon.
The Augusta officers, direciors and
stockholders refused to consider bring
ing the headquarters here until aftyr a
decision by the state insurance board, on
the petition for a receiver filed by cer
tain Atlanta lawyers, because thfey
wanted no cloud to be in the sky when
the Empire became a full-fledged Au
gusta Institution. They all along ex
pected a favorable decision because they
were ready to stand the acid test for
life insurance companies.
The people of Augusta have loyally
supported The Empire. They have be
lieved that the great Georgia insurance
company was all right and now they
have been shown that it is all right.
Few life insurance companies in the
country could have stood up under the
strain which The Empire has under
gone. The enemies of the company
have been relentless in their persecu
tions. Of course, damage has been done
to the company hut it will recoup with
wonderful rapidity.
Intense Loyalty of Policyholders.
One of the most remarkable things
about The Empire has been the intense
loyalty not only of officers and directors,
Familiar with All of the Details in
Regard to Empire Life Insurance
Co., Commission Says Company O.K.
Governor Slaton, Comptroller General Wright and Attorney
General Grice Hand Down Decision Declaring Charges
Without Merit. Condition of Company Practically Same As
When Judge Ellis Said it Was Solvent.
Atlanta, Ga.—The Empire Life In
surance Company today won an un
conditional victory in the litigation
which has been in progress for sev
eral months seeking to have a receiver
appointed. Insurance Commissioner
Wright decided contentions of com
pany’s foes charging insolvency and
mismanagement, were without merit.
The charges were made by h.
Chandler and the present victory is
one of several the company has re
cently won.
In his decision the insurance com
missioner said: “There has not been
such material change in the condition
of said company since the time It
was investigated by Hon. William D.
Ellis, Judge of the superior court, of
the Atlanta circuit, as to warrant a
belief that different action would be
taken than was taken by the court at
that hearing. The board recogntzes
the unusual financial conditions which
have been existing since the date of
the order of Judge Ellis, and which
are now existing, and such condition
should be taken into consideration tn
the exercise of a wise discretion In
the conservatism of the assets charg
ed with the peculiar sacredness of
those belonging to an injmrarice com
pany. The receivership or its equiv
alent through the courts would be ac
companied by the loss of more than
Display Augusta
Made Brooms
We are showing products of our
plant In the Bhow window of L. P.
Speth’s Hardware Store, 864 Broad
Street. The people of Augusta and
visitors to the city during the week
16-21 are cordially Invited to In
spect our exhibit.
tugusta Broom Works
AT HOME.
Through Glasses mode at home
and you’ll SEE the uselessness of
going out of Augusta to obtain
anything In the Optical Line. Any
lens duplicated, no matter from
where It came or by whom pre
scribed.
Godin Spectacle Co.
The only Manufacturers of Optical
Lenses In Augusta. Office and
Plant. 956 Broad St.
but also of stockholders and policy
holders. The Empire has lost but few
policies by lapses In premium payments
and those who have policies In The Em
pire seem to believe In the company as
much as do those who manage it. It
was nearly two years ago that the first
proposition to bring The Empire to Au
gusta was made. Few thought that It
could be done. It has been done, how
ever, though the company bas had to
fight for its very existence at every
turn.
Work on the magnificent 17-story of
fice building, now more than 70 per
cent complete, was stopped last sum
mer because of the petition for a re
ceiver being filed. Steps will he taken
to resume work as early as practicable.
The receivership petition was denied
by Judge EUls In the Fulton superior
court end in the mean time the legisla
ture passed a law to prevent Insurance
companies from becoming the prey of
greedy and unscrupulous lawyers by
having the state Insurance board first
pass on the question of whether there
are any grounds whatsoever for asking
fcfr a receiver and then having the peti
tioners give bond In the sum of SIO,OOO
before filing the petition. 1
The Atlanta lawyers who have so re
lentlessly pursued the company at once
■brought a petition before the Insurance
hoard, after Judge Ellis denied their pe
tition, and the decision of yesterday Is
the result.
President W. W. Reid and all of the
officials of The Empire will be given a
warm welcome to Augusta, their new
home. An era of splendid prosperity is
predicted for The Empire Life Insur
ance Company of Augusta.
one-half million dollars Invested In
the plant, and the administration of
the peculiar assets of an 'insurance
company would be embarrassed by
cumbersome legal procedure. Nego
tiations for ■ re-insurance, were the
same desirable, and which would con
stitute assets of large value, would be
rendered largely impracticable and
would cause great loss to the policy
holders as well as stockholders.
By the law of Georgia, the Insur
ance commissioner is vested with
broad and plenary powers, and It Is
his duty to direct and control the af
fairs of an Insurance company when
its conditions become perilous to the
public. Of his own motion he may
make an appeal to the courts for mar
shaling the assets of such companies,
when in his judgment the same Is ad
visable. His attention has been spe
cially directed to this company and
he Is acquainted with the details of
all of Its conditions. In view, there
fore, of the order of the superior
court of Fulton County, and for the
reasons above stated, the prayers of
the application filed by the complaint
ants are declined.
JOHN M. SLATON, Governor,
WILLIAM A. WRIGHT,
Insurance Commissioner,
WARREN GRICE,
Attorney General.
DR. J. B. PEACOCK
Breeder of Registered
DUROC-JERSEY HOGS.
Cochran, Ga.
Herd Boars: Defender’s
Peacock 45479; Chief
Orion 31157.
Nothing shipped under
three months old.
Correspondence Solicited.
SHARPE STOCK FARM
Herndon, Ga.
Breeders of Registered
Duroc-Jersey and Yorkshire
HOGS.
Piga, Shoata and Gilta
for Sale.
Communicate with us and
let us supply you.
THE AUGUSJA HERALD, AUGUSTA, GA. M
Si ABOUT TOT
EMPIRE DECISION
What Augusta Officers Say
Regarding Decision of In
surance Board Handed Down
Yesterday in Atlanta.
Mr. A. H. Merry, first vice-presi
dent of the Empire Life Insurance
Company and chairman of the
executive committee of the com
pany, was asked for a statement
on the vindication of the company,
and he said:
“We had expected a favorable
decision all along,” said Mr. Mer
ry, "and, of course, we are de
lighted. I mean the officers, di
rectors and stockholders of the
company. The vindication will l'e
storo confidence in the Empire and
the company will push forward
and make a magnificent success."
Mr. 11. H. Stafford, also a vice
president of the company and one
who has fought hard for (he com
pany throughout, stated that he,
as a matter of course, was de
lighted, yet he had expected noth
ing else.
"It is up to the directors, offi
cers, stockholders and policyhold
ers to work out the destiny of
the company and we must all join
hands and work for the best inter
ests of the Empire.
Mr. 11. C. I,crick, a director of
the Empire and the head of the
Augusta agency, said:
"I had felt all along that the
decision would he favorable. There
could be no other decision In the
light of the facts. What had
worried us all a great deal was
the delay in the hoard rendering
it. I am delighted at the vindi
cation and want the Empire to
come to Augusta as early as pos
sible.”
All of the local officers of the
company declare that they want
the headquarters removed to Au
gusta ns early as practicable.
"RELIANCE"
Rubber Roofing
GUARANTEED—
-2 Ply 7 years
3 Ply 10 years
Without recoatlng tor any at
tention from day It Is laid.
WHALEY BROS.
PHONE NO. 8947.
“How
Helen
■■■mil* ■■■■ ■ ■——>
Helped”
An Illustrated
Serial Story
of •
Business,
Guile
and Love
BY HAL COFFMAN
Will appear shortly In
The Augusta Herald.
You’ll like this story.
Don’t miss the opening
chapters, to oppear on
Monday, Nov. 16th.
COLORED MEN
Wanted to prepare as
SLEEPING CAR AND
TRAIN PORTERS
No experience necessary.
Positions pay $65 to SIOO a
month. Steady work, stand
ard roads. Passes and Uni
-1 forms furnished when noc-
I cessary. I. Ry. C. 1., Dept.
44, Indianapolis, Ind.
EXHIBIT OF THE GEORGIA
VITRIFIED BRICK & CLAY CO.
The display of the products of the
Georgia Vltlrlfied Brick and Clay Co.,
In the up-town window of The Herald
office gives the passerby an excellent
idea of the high-class materials which
these people furnish.
The “Augusta Paving Block” has
made a name for itself throughout
this entire section as being the best
on tho market.
The Fire Brick resisting a temper
ature of 3,000 degrees Fahrenheit, are
the most, serviceable and refractory
brick made In tho entire South for the
setting of hollers and etc., where great
resistance to heat is required.
The Chemical Brick a.re In great de
mand for lining Gay Luunc and Glover
Acid towers, being the only practical
material capable of resisting the
action of sulphuric acid In the man
ufacture of commercial fertilizers.
The Radial Chimney Block have
como into wide spread demand for
Buy Furniture at Home
wmmKmmmmmmmmmmmmmmmmmmmmmmmm ———i ■. i mi. i t ■ m nmcjm—————wum—■w—i
For anything in the furniture line, for Cash or
Credit, our prices are right. See us before buying.
Culpepper Bros.
Phone 841. 1019-1021 Broad Street.
A Display at City Market Headquarters
BLUE RIBBON
S. C. BUFF ORPINGTONS.
Bred In Augusta.
Took ftvr Was RlMwima oat of seven entries Augusta Poultry As
sociation! 119114 stow.
S?iiT»'«T Crap for hrmt <aii*j),tajr„ aim vairtefhpir (croanpirttni*.
Txin'i Alii to see this iiilnreslira* exhibit.
R. W. WHITAKER.
Telephone* «#*. 22*1-J. Vn Pin* fltjwrt, AngwSla, Ga.
Anpsta-Made Boxes
In the show window of the Gas. Light Company of
Augusta, 809 Broad, will be seen on display of Augusta
Made Boxes, product of the North Augusta and Crate
Works. Augostans and visitors are cordially invited
to inspect same. “Made in Augusta by Augusta Peo
pled
Don ' t Miss /ekM>
“Augusta-Made Goods”
Display in Standard Sample Shoe
Store’s Window,
960 Broad Street.
Also See Beautiful
Silver Ladle
To be given away Free this week.
DROPSY
SPECIALIST
Usually give quick relief,
have entirely relieved many
seemingly hopeless cases.
Swelling nod short breath
scon gone. Often give*
entire relief In 16 to 26
days Trial treatment sent
free.
DR. THOMAS E. GREEN
SticciMOr to Dr, M. H.
Green'* Snii*
Box P Atlanta, Qi,
the construction of tall circular chim
neys for manufacturing and commer
cial plants, making a chimney of
beautiful proportions and perfect sym
metry.
The Cupola Block sold by this Au
gusta concern have been found most
satisfactory for lining cupolas and
smelting furnaces where the high
heats required In the melting of Iron
has given them a very eevere test.
The Georgia Vitrified Brick * Clay
Company are also displaying In front
of The Herald Building some of their
Standard Salt Glazed VITRIFIED
Sewer Pipe. This Is tho only VITRI
FIED Sewer Pipe manufactured In tho
South, and the City and County Engi
neers are fortunate In being able to
obtain such high-grade VITRIFIED
material In this section. Tho In
creasing demand for this pips by
Cities Installing complete sewerage
systems, shows tho appreciation of a
discriminating buying puhllo who de
sires tho best of material.
“Buy II At Home”
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