The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-12-07

delay the election TO iii The vacancy on the
Supreme Bench, caused by the resignation Of
lloSc, and tho friends of the latter to hasten
it. On ycsterdaya concurrent resolution, of
Tered by l.. J. Cain, colorcd, to meet in joint
assembly on Monday, the 9Th OF December, to
elect an Associate Justice Of the Supreme
Court, was taken up in the House,
and after considerable opposition from
the supporters OF Judge Orr, H. was, on
motion of Fcriicr, amended 50 rs to read,
"incci on Tuesday, the 7th," then adopted and
sent into the Senate. Haync, colorcd, at once
moved That it bc amended 80 us to read, ''mcct
on Tuesday, the 2lst December" which was
accepted, md tho resolution adopted. This
delays tho election for two weeks, by which
time the friend: Of Judge Orr will probably be
able to put him In nomination with some hopes
Of success; as Il ia now hc would make q very
poor run against Whippcr.
THE NEW INSURANCE COMPANY.
Wright, from tho Senate Committee OH In
10 whom was referred bill to
incorporate tho Policy-hoiders' Life AMI Tom
tine Assurance Company, reported yesterday,
and recommended that section 3, second para
graph, he amended TO read ns follows: "Thc
board Of trustees shall consist of not less than
thirty-siS persons, majority of whom shall be
residents Of the State of South Carolina, and
not more han onc-half of those residing In the
State shall BE- residents OF the City Of Charles
ton, and no one shall be o trustee who is not
4 polcy-hodcr in the company" and that the
bill, 80 amended, do pass. 1t was ordered for
consideration today, but owing to the press OF
other business It was not taken up.
INCORRECTLY NAuED.
Frequently Il happens that u child before IL
is chrIstcncd has some pct name given it Which
clngs TO II through life, despite the benefits
of the christening. But We hope such will not
he the case with q bill which wOs bushcd
through the Senate to-day ~ n manner which
gave tho spectators an Idea that several per-
sons Present were deeply Interested in It's
passage. 1t has been given the pet namo of u
"bill TO better protect the holders OF Insurance
policies in this State" when 1t should really bc
called q "bil TO make dcmund for
the bonds and stocks OF the State,
thereby increasing their value and giving
an opportunity TO the bondholdrrs 10
sell out ut an advantage" !" and we trust that
when the time comes to christen it-makc It
oil act-thc senators will see that ii is properly
named. To let II retain It's present name will
only be 10 nnbit it with very fiimsy material
so flmsy that oil the movements OF It's body
may be seen, no that none will be deceived,
and make those upon whom the bill was 10 be
palmcd of rs something to benefit them, only
dcspise the creators-cvcn though they bc
benefited by 1t.
But 10 the bill and the manner II was hu!.
ricd through the Senate. Yesterday Leslie
asked and readily obtained leave 10 introduce
without previous notice, q "bill to better pro
tcct holders Of insurance policies of this Stutc, :
saying that II wasa ''matter Important to til,
credit of the State and to every citizen OF tho
State.p Tho bill received its first reading, ant
was ordered to bo printed for consideration
today.
| Itprovldes that no company or aesos 'ntior
which is now organized, or Which may bt
| hereafter organized, In this Stale to carry oil
| the business OF insurance OF any kind sllal
proceed further with business, or to business
las the case may be,) until they hnvc deposit
| cd with the CoInptrollcr-Gcncnl OF tho State
| bonds or stocks OF the State equal TO the sun
OF fifty thousand d0llurs, par vulnc, for eacl
twenty thousand dollurs, pnr value, for eacl
| other insurance company or association; tha
the Compirollcr-Gcncral shall hold such bonds
or stocks rs security for policy-holders In sale
| uSsOCllliOns DuC us long Us any
company or association SO dcposlting shall con
unuc solvent, he may permit such company t
| collect and receive the interest on the bond:
or stocks so deposited; that after such deposi
has been made IL shall become hi
duty to furnish the association or corporation
! with certificate OF such deposit, which certi
| fcatc, or duplicate thereof, certified by thu
COmptroller-General, may be used In, and b.
evidence for and against the corporation In al
suits; that II shall not be lawful for any persoI
or .isons, corporation or corporations, asso
ciatiOn or associations. to act within this State
| as agent or otherwise, In receiving or procur
| Ing applications for insurance Of any Kind OF
kinds, or In any manner to solicit any one L
Insure, or in any manner 10 aid In transactin.
| the business OF insurance, of any kind or kinds
| for nny company or association incorporated
by or organized under the laws Of this or any
other State government, or any foreign gov
ernmcnt, until such company or nssocia
| tiOn have deposited with the Comptroller
General Of this State, for the benefit o
| the policy-holders of such company or asso
| clation, citizens or residents of tho United
States, bonds or stocks of ths State equal t.
| the slim OF iitty thousand dollars, par value
] for caGh life Insurance company or assocIa
| ton, and twenty thousand dollars, par value
for each other insurance company or aSSocia.
tton; but so long as any company or associi
| ton SO depOsltlng shall continue solvent, The
Comptrollcr-Gcncrnlm may permit such company
or association to collect and receive the inter
cat on lilo bonds or stocks so deposited nnt
whom process Of law can BIZ served; and SAID
| attorney shall have filed witt, The Comptroller
| General q certified copy OF the charter of said
company or association, and also q certified
| copy OF the vote or resolution OF The trustees
| or directors Of such company or association
| appointing him the attorney Of such company
which appointment shall continue unit
another attorney be substituted, which shal
be done upon tho death, removal or incapaclty
to act. of such attorney, or may be done b.,
such company OF association at any time; thai
when the foregoing requirements, and sucl
other requirements rs nre now or may here
after be required by law, shall have been com
piled with, the Comptroler-General shall give
| certificate to that effect, and also state The
name Of the attorney, which certificate, when
| filed In the county clerks Office OF the county
where the agency is to DC located, shall be the
authority 10 commence business; that every
violation OF this act shall subject the company
or association, or agent or agents. violating,
Jointly and scverally, TO u penalty OF five hun.
dred dollars for each violation, which shall
be sued for and recovered in Joint or
| several civil action In tho namo OF tho Slate
| OF South Carolina, Dy the solicitor OF the cir
cult In which the company or association, or
agent or agents, SO violating, shall be situated.
Qne.half OF auch penalty, when recovered,
shall be paid into tho county treasury of such
county, and the otlisr half to tho iniorucr OF
| such violation; and in case Of the non-paymcnt