The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1875-03-13


any pinprlly by means "a ans loan ~ leans
wlilfll II maY nave manr nn mlfi3asel ppl-
lnmiyi nr ~ iwHd' Nfnf Hnl HfhriailN Va 40
ana prfpfW Hll nlnfi matters proper lp pnl-
mote ilesH objects, Anl 40 enWpinF piHAil'
lzHl under ihih apl, nr lrlnslrling business
ln iif hiH q, silHll ~ pnsf iarli ~ lnss nl any
one lislf no lHlndt except Whrn luhnl lli
cotton in hllrsi ~ an amount nArfrlllH bh
percent ni NJ PAID We pnpllnli unless llih eh
boss shall hn Insured hg Tie same ~ aplnn
other Fuui ana ipilHhir company
hnf, %. lhn annual meeting iOr me election
NJ directors fhaii hr holden huilnH we
inpnlh 0i January a. no hbrlANh 90 llp
company WHA dlUGii If0Wini hpnfrrri tlNl
n fnl any pausn tho hluHA hndfrH snall iall
W uleol ~ any annual meeting, ihrn lhty
may mold a special intriln8 90 he ihS sun
sruufnl iNnlNin inf ma purpose w. HlNink
lhirly daA notice tllrHnf iu snnln nrWhpn'
per ~ gnnrfal nllnulnllnn in The rnlniY lll
which no pnnglpal ulilnr W nr rniulAhi
shall hg lngaieii AM the diienufs chosen NJ
ans hnnli annual pr special inrtllhb hhhlI
continue Va office untll ihe next hiliuhl
meeting, aud nntil their Hurnrhanih Nnly
elected snail nave accepted, ,,,.,
.kHr, 10, lhr directions Stall rhnHn hy hullnl
u president nom lhelf own uuhhtl hllll
SHAH fiil all vacancies Wlilrli alhll ARISE w
| tie hoard 81 la the presidency ihHrrul hnN
| thn board uf directors thus rpnhliluledi pr q
majority ui ilein when con Nrntl ~ thp OF
| doe OF th0 COMPANY, SHAH DO competent 70
exercise all no pnweTH vested ~ llihNl Wy
Va, Il, The directors NJ any such company
! shall have power ln appoint u secretary ana
! any other OnlGrr urngull necessary lpT lrnuh-
aGlinH The huslnrlh 81 no company ptylhB
such SALARIES and taking hupll securities ~
/ lhHy may huril rrnhunnhlri lhry may or
! dAin aud niHhlihh such bylaws hlin rrRllls
! lions, not inrnusiaiOni win ihla Hnl Or win
| the constitution ana laws nl liu lnlltl
| states anu al ms state ~ hlihll appear W
] them necessary iurIumluiiug Hnd conduct
D lnH AuNiIiisH llIif UDlIltllAG ullu III
! Hhnll be- ihelr duly a. Keep iull anu pOuupl
entries Of thnir transactions, Whiull SNAIL ~
| ali llnnH, duling husluohS hours, DO open ~
| the INSPECTION ~ such persons ~ nFn enll'
ZOO, ls. Al policies or contracts OF insur.
Rncr made ~ entered Into bN tho company
may be- made rllher win nr without the seal
OF said company but hlld policies snail he
Enhserihed Nv the piesldrut Or Hurll uiner Of
| deer hh may be- designated by The directors
| Tor that purpose, ana shall be htlrhlud ny lhu
secretary thereof
Rer. ", Transfers of steel, mnv be- made
by Mnollholdnr or his lrgnl representative,
subject ~ such roatrlclonh ~ the directors
shall from llnr 10 iinn establish In tllolr by
laws,
Hoo. n. Whcuayoruuy company organized
under TINS act shall, W. the opinion ui the d.
reuioW tlrltuh rnguilo ~ Increased amount
Of capital, they SHALL n authorized by thc
holders of a majority of The stock Ia do 80,
hl0 with the comptroller Of state a certificate
HettlnR iOUl tue amount OF such desired IN.
OrpaAe, anu Thereafter ruch company shall
be- rntlllrd tu have tho Increased amount OF
capital nNcd hy sud rrrilOutVi ald the uX-
animation Of securities. composing the
capital stock THUS lnctonhel sllull De mhdo IN
the same manner nH provided IN section s0Ys
On OF this not, for the cnpilul stock FIRST paid
IN,
Seo. 10, Gtshnll moi beluwful for thedlrcctors
trustees or mauhgrfs ~ any insurance com.
pnny organized under tins net or incOrpO.
puInI LA AT tina aIttIR
any dividend except nom the surplus pruht
nrlHlng from their business, aud m cstimnt-
Ing such profits there Hhnll be- reserved there.
nom u sum cqnM 10 forty per cent of thn
nmOnnL received W premiums un unuNplred
ilie risks md policies, aud one hundred per
cont of the prumlums received On uneSpired
marine ana inland transportation risks,
which amount 50 reserved IN hereby declared
Ia be uneUrncd prpIniumN ana thCrc shall
also be reserved the amount of all unpaid
losses, whether adjusted or unudi usted, all
sums due the corporation on bonds and
mortgages, bonds, Stocks aud book accounts,
Of which no pnrt oi lllv principle or Interest
thereon has been paid during the year pro-
Ceding such estimate of profits, aud upon
which suit for foreclosure or collections has
not been commenced, or when, after iudg-
nent hns been obtained thereon, shall have
remained more than two years unsntisiled
and upon which interest shall NOT have been
pnid; and IN cnse of any such Judgment, the
| interest duo or accrued thereon and remain
Ing unpaid shall also be reserved. Any div
! donds made contrary To these provisions
shall subject the company making II to II
forfeiture OF their ohnltcr,
Sec. lU. No cpulnany organized under this
act sh III purch SO, hold or convey any real
estate save for the purpose and In the man
ner herein set forth, to-wit LIST such as
shall he requisite for Its convenient accom-
mediation IN the transaction of It's business.
"a, such rs Shpll have been no tagged To IL
In good mlih hy way Of security for loans
81, Such us shall have bpon conveyed TO II
In satisfaction Of debts previously contract
cd In the legitimate business OF The company
or for money due; or, lth, such az shall have
been purchased NJ sales or upon judgments,
DEGREES or mortgages obtained or made for
such debts,
Sec II. It shall be the duty of the presi-
dent or Of the Vice,prcSdent and secretary OF
each company organized under this act, or
Incorporated under any law of this state, or
doing business IN this state, annually, on
the first day of January of Teach year, or with
In sixty DAYS thereafter, To prepare under
onth ana deposit In the oilice of the comp
trolcer OF state, n null, true aud complete
statement OF the condition OF such company
on the last day of the month of December
preceding, which last statement shall cXhib.
IL the following items and facts in The follow
ing forms, VIZ.
First. The name ofthe company, and where
located
Stcond, The name of the officers.
Yhdd The amount of capital stock of the
company.
Fourth. The amount of capital stock paid
mp.
FQth. The property or assets held by the
company, specifying the value, as near AS
may he, ofthereal estate owaed by such com
pnny.
The amount ofcash ON hand aud deposited
in banks to the credit OF the company, and
in what bank the same is deposited.
The amount of cash in the hands of agents
and In course OF transmission.
The amount of loans secured by first mort
cages on real estate, with the rate of interest
thereon, specifying the location of such real
estate and It's valuation.
The amount of all other bonds and loans
and how secured, with the rate of interest
thereon.
The amount due the company on which
judgments have been oht lned.
The amount Of stocks of this state, OF the
United States, of any Incorporated city OF
this state, and of any other stock owned by
the company, specifying the amount, num-
bers of shares, and par Rand market value of
each kind of stock.
The amount OF stock held by such COM
pany M collateral security for loans, with
amount loaned on each kind of stock, its par
and market value.
The amount of interest actually due and
unpaid
All other securities and their value.
Sixth. The liabilities of such company,
specifying the losses I'D listed and due.
iioSStS 'VlJuSteu Wlltl not uue.
losses unadjustcd.
Losses in suspense ana the causes thereof.
Losses resisted and in litigation.
DIVIDENDS either in scrip or cash, specify
ing the amount of each declared, but not
due.
Dividends declared aud due.
The amount required To reinsure all out
standing risks on the basis OF forty per cent
of the premium on all uneXpired fire risks,
and one hundred per cent OF the premiums
ON all uneNplred marine and inland trans
portation risks.
The amount due banks or other creditors.
The amountoi money borrowed, and the
security therefor.
All other claims against the company.
&tenth, The income of the company during
the previous year, stating the amount re-
ceived for premiums, specifying separately
for fire, marine and Inland transportation
premiums, dednciing reinsurance, the
amount received for Interest, and from ali
other sources.
Eighth. The expenditures during the pre-
ceding year, Specifying the amount Of losses