Historical Newspapers of South Carolina

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nmVtU INSURANCE PLAN l K4.I s si \ | | n > IM, \(.| IN HU . IHSINKSN. Ikwiikv < oirrnl**s|ouo ? ?v?ys Compa? nies Take $2,000,04M> Away From Slate Annually. After pointing out the life insurance Companies ..f other States receive from this State annually for invest? ment about $1,000,000. P. It McMaa ter. Insurance commissioner of South Carolina, recommends In his annual report that the State engage in the Insurance business and thus keep this large sum within the State. Ha saye: "The State, through the public schools, beneficiary scholarships, hos? pitals and poor houses, educates and caree for those whose natural proter tore have not been able to do so. Why should the State not offer the means for those of her citizens who seek by means of life Insurance to care for those dependent upon them The former Is done at public cos ; the Uttttr may be done at public gain." The commissioner says: "If the Stat* of South Carolina ?oj|d receive the premium piwnents snd distribute the funds therefrom to the widows and orphans and Other beneficarles of her citizens who seek t< provide for them by means of life Insurance, and if her citizens would trust her as they do life Insurant I company managers hundreds of miles away. South Carolina would be i-de? pendent of banks and bankers to re? fund her public debt, provide the million dollars needed for the Bos> pltal for the Insane snd supply funds for her snd her counties for tempo* rsry loans. "Is this in absurd assertion when It Is recalled that life Insurance compa? nies of other 8ta?es receive from this State annually for investment about $2.000.000? The amounts stated else? where in this report show that life in? surance companies of other States in j till collected In premiums, less divi? dend return*. $4.626.000; that they1 paid out in all policy claims $2.406,- ' 000; that hey paid agents, medical examiners and all other ageno ex? penses $$$6.000; that they paid in State. county and municipal taxes and license fees |ltlt###, leaving for that one year alone $2.123.000 for in? vestment, lees managerial expenses. . ?worn statements of these ' i i show that they had on b.' i i hank balances during the year $11 ?7.000, of which $524.000 - , roportionate part belonging to South C*rollnans. This $542.000 would supply all the cash needed by South Carolina and the counties In South Carolina for temporary loans. 'It Is not amiss to note Just heie that though the proportionate share of South Carollnnns in the cash bal? ances of these life Insur.incc --m pa? nics was $542.000 during 1911. yet only $193,000 was kept in South Caro? lins hanks; of this latter amount $111.000 was In one bank In South Carolina, due to the patriotic activity of one general agent. An l this, de? spite the fact that the strogest banss In this State would pay 4 per cent on deposits while the companies do not generally get more than 2 per cent or t per cent on such of theo ib-posits us to draw interest. W th such excess funds for invest? ment. South Carotins' in three Off tour years SOUM take care of re-r own pub? lic debt and spend a million dollars on the Hostlpal for the Ins no-. To ho able |n maturr the policy contracts just so surely as the Insurance com? panies, the Sf.it?> would not have to pay n" re th in J 1-.' per < ? nt int. rest on the*e funds, and this is tews than she does pay on her public debt. "The State. throtgh the public schools, beneficiary scholarships, hos? pitals and poor houses, educates an 1 cares for those whose n.Curil pro? tectors have not l>een able to do so. Why should the State not offer the in. an- for ?hose of he: children who seek by means of life insurance to care for those dependent upon then1. The fSjffUsUV is done at public seal] the tatter may be done at public gain. "Life Insurance Is merely a scien? tific development <f that fundamental Christian government doctrine of beiriio? SSM another's ha dern, trans? muted into th? equities of i geaeffal average In accord with I he Pauline doctriie. SO tnat e oh mm BWaffl his own burden Tim ? x ;? t SCleatlAc prin? ciple has lone agOg di*<o\eied. tested and awreloped private eateffprtes aealousi> >*.. eks the trusteeship of th< contributions for the direct and indi? rect benefit of the trustees Wh it al BJsaffe natural and pffepOf than that a mmmi n guardian, the SI ?te, ihould sseorio i" - trusteeship for the Ci m mon good 'It WafJM proehSi I means for^ a citizen In his pffodtM live years to pur? chase hu aaaaltj fot h,s old ago, Ii would sup|d> a no ins for a ? ithlen to ensure the education and mainteaancs of his children during their teadsf year** by the purchase of an .mnultv for tfiem. f??r I term of years. It woubl oro ide a Saeaaa whereby a citl sen rould pay the state In Installments or in one payment the premium neees MENINGITIS IN TENNESSEE. AN nODOC HIU.AKS OUT IN DYHK (OI NTV. SUty-One Diagnosed and Thir? ty-Five Deaths ? People Panic Striken and District Quarantined. Pywbttfg, Tcnn. Jan.2.?Sixty-one case of cerebro-splnal meningitis have developed to date in Dyer county and of this number 35 have died, ac? cording to a statement made to the Associated Press tonight by Dr. J. A. Albright, formerly secretary of the Tennessee board of health, who has been engaged by the county authori? ties to direct efforts to stamp out the disease. TWenty-one of the cases and 11 deaths occurred within the town of DyersbWg. Within the past 24 hours two cases developed In Dyersburg and two cases in other parts of the county. Dr. Albright stated that immuniz? ing au'-ntl are brim; freely used are! within a few days he anticipates that his forces will have the situation well in band and a marked improvement be shown. Public gatherings have bang discontinued. Quarantines have been established by adjoining counties. aary to insure the payment of a lump sum or an annuity to his dependents upon his death. It would do all these things which life Insurance companies do and with a great deal more cer? tainty at less cost, and, at the same time, keep right within the State the life blood of the State?its cash capi? tal. Life insurance companies give this el the fundamental essence of their 1 ? ;ng. Their claim for existence is that they rclb-ve the State of this bur? den. Hut at what cost! During the last 40 years in which life insurance has developed in this country, It has taken out of South Carolna probably some tens of millions of dollars over and above what has been*paid to the willows and the orphans. "Can South Carolina do this work? If there be applied to it the same fidel? ity that has been applied to her scheme of fire insurance on her pub lie buildings, devised by Assistant At? torney General DeUruhl, and per t ' ted and managed by Secretary D. H. Means of the sinking fund, that question is answered. "Every one who knows anything about the business understands that the marvelous growth of life insur? ance companies has not teen due to the returns to the pollcyholders hut rather, putting it in a blunt but truth? ful, though seemingly ausurd way, to expense of management?the amount paid for putting the business on the books principally. The gold and glit? ter of managements, master In the art. stir agents to do their utmost for the widow and the orphan?and the company. This language may seem a little high pitched, but it hardly sounds the fulness of the note to whlih the busines haj marched In Its larger corps. "The waste of It all has been feai ful. "The greatest cost, proportionate to returns, if not the greatest waste, has lieen in what is km>wn as Industria Ufa Insuran? e. the kind when* weekly paymnts of live cents upward a e made. To cure this evil ami. at the same tine-, to care for the widow and the orphan, and do all else that insur mee companies do. Massachusetts es? tablished her savings bank insuram ? a quasi public institution. Germany, Prance and England and other Euro pean countries have established va rlong forms of industrial, old ago. mm ?mployajn nt and workmen's Insur? ant*'. The New Zealand government has a Ufa Inaumnee department, Wis? consin has just total llahod its own life insurance department in the Stafs government, and Michigan is propon? ing to do U new loo. Italy ami Uruguay have eetabliahod government monop? oly In life Insurance. As recently ex p ? seed by a prominent superinter. i. at of insurant **, there li a ground ?well toward State insurance. ? in its origin the movement to? ward state insurance seems to have been due t.. a d eel re to provide f(>r the I unfortunate by means of insurance, it being believed that the state could do this more economically than was bc Ing done by Inaumnee oompantea Latterly, there appears to have awak . ned a public sense of danger at the enormous volume of assets piled up by the insurance companies, the property of the public but in the control of a fen Individuals The Inability of the policy holdere, the real owners, to hnve a voice in the management of these \ast properties, except through the government* la a matter ol grave con corn The fact thai tirsi Thomas K, Ryan and Den .1 Jterpunt Mol an were willing tu pay |S.I..00Q or more for $ & 1,00(1 of 7 per ten! stock which gave control ..f over $600,000,000 ol .--?eis must give any thoughtful man p.ase With othei financiers through? out the counry struggling t?? gel con? trol of life Insurance com pan lei be? eauea of the enormous power the as sets of auch Inntltutloni give, the quee POMP AM) DISPLAY OF INAUGU? RAL DISCARD. ??An Ounce ef Performance Is Worth u Ton of Promise," Says Retilly Democratic Governor in Address Upon Inauguration at Albany ? Tolls People to Judge His Acts not Wbnt He suyK. Albany, N. Y., Jan. l.?Precedents of years standing were ignored and others created today during the inau? guration of William Sulzer as Dem? ocratic Governor of the Empire State. All the pomp and display usualiy incident to such occasions were lack? ing, this at the Governor's own re ineet There was no military dem? onstrations, no Govei nor's salute of 19 guns, no parade, nothing to fea? ture the induction into otlice of the State's chief executive, except a no? table gathering of prominent people and the carrying out of the procedure provided by the Constitution. The new governor Insisted on walk? ing from the executive mnnston to the capltol, refusing to ride in a car? riage which had been provided. At? ter the ceremonies he inaugurated a new feature by appearing on th front steps of the capitol, and ad? dressing the thousands w ho were Uli? nbli to witness the ceremonies inside Governor Sulzer took the consti? tutional oath of office in the lavish ly deCOrated assembly chamber. In his inaugural address the n *\v executive pledged "an honest and ef? ficient and economic and busmen-, like administration," an 1 was free? ed with prolonged applause when he said: "The people know that an ounce of performance is worth a ton of prom? ise, and they Will judge mv adminis? tration not by w hat I s ty now, but by what I do hereafter.' SENATOR BAILEY RESIGNS. I'd It or R. M. Johnston Probably Named to Fill Yacanoy. Washington, Jan. 3.?Senator Jos. W. Bailey today sent his resignation as Senator from Texa-s to Senator Gal linger, to take effect immediately. It. M. Johnston, editor of the Houston Post, is now in the City, and Senator Bailey said he would be appointed by the Governor to succeed him, with the expectation that the Legislature, when it meets, will elect him to till out the unexpired term. tlon whether the government should not take over these Instituions, or at least take steps to curtail their growth and power is not to be dis? missed without serious consideration. "While not of universal applica? tion it may be generally stated that life Insurance has become a means to gain centred of ther people's money, rather than that of accumulation of assets SS an incident of life insurance. "Government insurance has gener? ally been of slow growth, except in the forms in which It has been made compulsory. This is due to the non employment of agents. But that Is a matter of detail. There Is no reason why the State should not employ agents and pay them as private cor? porations do. "If the suggestion made elsewhere In this report that companies licensed in this state be compelled to Invest the assets held for Bouth Carollnans in South Carolina securities be adopt? ed, it is probable that some companies now licensed may cease doing business in this State. If the State should un? dertake to offer insurance to Its citi? zens, probably many of those now in? sured in companies which would with draw would place their insurance with the State. This might be done by re? insurance of the whole bUSlnei as has been done in one or more Instances by the Italian government or should the State make 4 per cent Us reserve Interest rate many of the most de? sirable lisks In companies reserving on a lower rate could secure advanta? geous cash surrender values and take paid up insurance with he State. If the state would employ agents, ?t would supply profitable employment to many of those who have served the companies which withdrew. ' With the scientific basis on which life insurance now is founded, The stale could make this provision for the care of widows, orphans and other dependents with as great safety as the life Insurance companle, and doub. less In the end, at less cost. The other benefits t?? the body pollta are already Indicated. In addition t<? these would come opporunltles to follow in the footsteps of the government* of Rurope; making i"ii& time loans to farmers at low rates of interest: pro? viding fumis for ail public improve? ments; making conditions as atrac Uvc at home as tiny are anywhere else, and thus not only relu'n oui capital but our Vigorous young man? hood and womanhood, who arc in w frequently attracted elsewhere bj ih? opportunities which are opened u| with South Carolina money, In part, in the care of trustees far beyond the borden of the State." BLEASE "FIRES" NOTARIES. ISSUES So SWEEPING ORDER AS BEFORE, HOWEVER. _ Governor i>co area Commlselons of All Ofllcen Should Expire with ills Term, but Permits Number of Notaries Public to Itetniii Commis? sions ? Muny prominent Citizens Aiming those Hawing Commissions Revoked?Blease Explains Action ami Incidentally Makes Other Observations. Columbia, Jan. 3.?Gov. Blease has revoked the commissions as no? taries public of the following: Henry J. Hardy, pressman of the Columbia State; Capt. Dibert Jackson, atliliated with the reportorial staff of the State; Col. August Kohn, head of Tin- News and Courier's Columbia Bu? reau; A Iva M. Lumpkin, Hepresenta tive-elect from this county; A. J. Bethen, private secretary to Governor M. F. Ansel during h'.s term of office; David Harper Means, clerk of the State sinking fund commission, and of George Powell Miller, Walter Tay? lor Love, William D. Love and Wil? liam Stephen Hough, all of Columbia. Commlssioni to notaries public are issued during the Governor's pleasure and can he revoked at will. Noticing the revoking of commis? sions of so many notaries public, Gov? ernor Ph ase was asked this morning why it was being done or what It meant, and in reply made the fol? lowing statement: "You remember when I first came into office I revoked the commissions of si' notaries public, my reason for so doi.ig being explained it the time; also oi. the stump during the recent campaign, at which time one of my opponents would yell, every day, 'He cut off the heads of all the notaries public.' His protests had no effect upon the people, for they realized that 1 was right in the step that I had ? aken. 1 said then, and repeat now, that under the Constituion, the com? missions of every appointive officer should be made to expire with the term of the Governor who makes the appointment 1 still believe that, and in carrying out that policy I have called in the commissions of all de? tectives and constables working under me, January 1, 1913, and am revoking the commissions of many notaries public along the same line. "I would have issued a general or? der, hut two years ago this was very much objected to, and I was asked , not to enforce the order because it would interfere with the hanking in? stitutions and others in handling their business affairs. "There are some commissions throughout the State that I shalL not i ovoke. and I am satisfied that there are some who will he glad that their commissions are revoked, because I have heard of them saying that they did not want to have any commission signed by Blease; that they were ashamed of them, hut that they had to have them on account of their business affairs; therefore, as far as I I can. 1 am trying to relieve them of. their shame. "Furthermore, I do not think any man should hold a commission under the State Government who openly vio? lated the laws of the State last year by betting on the result of the pri? mary election. I know of no better way to stop such gambling than to carry out the law and deprive those of their commissions who were guilty of that offence, as provided for un? der our Constitution and statute laws. Therefore, when I have the positive proof, 1 shall revoke commissions for this cause. This in short is what it means, and this is all it means. "I furthermore stated that no man need apply to me tor a position unless he be a Ukase man; 1 mean that. I was censured for it. yet now some of the same newspapers who condemned me so severely for my position, are hollering 'to the victor belongs the spoils when it comes to the appoint? ments to be made by the President? elect of the United States, Woodrow Wilson. If the 'spoils' belong to Wilson and his crowd, why should not the Blease men reap the rewards or the 'spoils' from their victory. Yet they praise Wilson for sticking to his friends, and condemn Blease for stick? ing to his. Truly it Can he said, 'Oh! consistency, thou art a jewel.' and I beg to add, 'A clear-cut diamond.1 "Of course, where appointive offices were submitted to the primary and elections were held by the people, the will of the p. ople should and must be carried out. unless some good cause is shown why it should not be, but when it comes to appointments in my dis? cretion. 1 shall stick to the man who stuck to im ; because, standing by my old moto, 'Of what shall a man be proud if he is not proud of his f run supervisor reports that ti rains have don.' the lo.i damage. Mrs. .1 of the Hot O'Dcnnell is propriet r< ss Mr Prank rer, nmtxxtmxxtmtttttttm HAPPY NEW YEAR The People's Bank. Banking for 1913 THERE HAVE ALWAYS BERN BORROWERS AND LENDERS, HUT EXPERTS CREDIT VENICE WITH HAV? ING THE FIRST PUBLIC BANK. WE ARE NEITHER THE OLDEST NOR THE YOUNGEST, BUT NONE GIVE BETTER SERVICE. The Farmers' Bank & Trusr Company. Condensed Statement of The First National Bank of Sumter, Sumter, S, C, December 30, 1912. Resources. Loans & Dis'ts, 457,045 89 Overdrafts, 5.831.75 U. S. Bonds at Par, 25,00000 Bond? & Stocks, 15,300.00 Furn. & Fixtures, 2,500.00 Real Estate, 1?153 93 Redemption Fund, 1,250.0t? Cash and Due from Banks, 78,897.83 Total, ^586,979 40 Liabilities. Capital Stock, Sioo.ooo.oo Surplus and Profits. 112, M 7.13 Circulation, 25,000.00 Due to Bauks, 1,095.23 Deposits, 348,767.04 Total, $586,979 40 Organized in 1887 with a capital of $50,090, since which time it hat paid to its stockholders nearly One Quarter of a Million Dollars in Dividends. We solicit the accounts of corporations, firms and individuals. Heil O'Donnell, Pres. R. D. Lie, Vice Pres. J. L McCallum, Cashier. The Bank of Sumter's Christmas Savings Fund IS AROUSING WIDE-SPREAD INTEREST IN THE CITY. WE CONDUCT TIUS SPECIAL DEPARTMENT TO CUL? TIVATE THE SAVING HABIT IN SUMTER?AND WITH UNEXPECTED SUCCESS. ASK FOR DETAILS. The Bank of Sumter LAND LIME. We are prepared to furnish this product at prices that will enable every farmer to use it. We have a very low price this year and nothing will do your land more good, especially run down lands, or l->\v and sour land. It Is necessary for all leguminous crops such as Alfalfa, clover, vetch, peas, etc. Get our prices In car lota or in smaller quantities. Samples on request. BOOTH-HARBY LIVE STOCK COMPANY, SUMTER, S. C. ????????????????????????????????< FrostProof Cabbage Plants;: Prices: 1,000 t.? 1.000 plants at $1.25 per thousand; ft.OOt to 9.000 at $1.00 per thousand; 10,000 at ?0 cents per thousand and special prices on larger lots or to those acting as our agents. We have cheapest express rate, we guarantee count, safe delivery, prompt shipment and satisfaction. Plants mown In open Heids and guaranteed Frosl Proof. We have all varieties. The earliest. Early Jersey Wakencld; nexl earliest, Large Type Charleston WakeflaM; lata varieties, Succession and Late Flat Dutch. Plants now ready for ?hlpment. , Cash mono) order or express money order with all orders. BOX 17. The Carr-Carlton Company, MEGGETTS, S. C. i