The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1875-03-20

NV WV" HNN "INNII 'H I'' w 'lN w. wv" WI WlIN
one figh W. lHtld, pyo0rt whnu lnsurlnt
cotton In hut4, lu uu amount pNfUpdluN tHn
Uerrrni ul 49, liuid W. clpitnl, uulpH tlio Ox
toas snail De- iuWfol ny tlir fniuo Nv spnt
other good und ~ llblr company
Nuc.U fnu Uunupl meeting fut the election
Of directors shnll BE- holden during TIC
month Of Jnuunly, HH the by.lnwH Of lho
II for my cause tho stock n0ldora shall mll
Ia elect NJ any annual meeting, then they
inay hold II special meeting 40 ne day sub
sequeni thereto for thnt purpose, by giving
thirty days notice thereof In some newspa-
per ~ general circulation In the county In
which the principal Office of the company
shall he located; and the directors chosen NJ
any such annual or special meeting sinai
continue In Office until the next annual
meeting, md until their SUCCESSORS duly
elected shall have accepted.
Sec. 10. The directors shall chose by ballot
II president from their own number, and
shall llil all vacancies which shall arise In
the board or In the presidency thereof, and
the board of directors thus constituted, or n
majority OF them, when convened at the of
flee of the company, shall be competent to
exercise all the powers vested In them by
this act.
Sec. II. Tho directors of any such com pany
shall have power to appoint II secretary and
any other officer or agent II ecessnry for trans
acting the business OF the company, paying
such salaries and taking such securities as
they may deem reasonable; they may Or
dain and establish such bylaws and rCgula-
tlons, not Inconsistent with this net or with
the constitution and laws of the United
states AMI of this state, as shall appear to
them necessary for regulating and conduct
ing the business of the company; and 1t
shall be their duty to keep iull and correct
entries of their transactions, which shall at
all times, during business hours, be open 10
the inspection of such persons as are enti-
tied the retO.
Sec. II. All policies or contracts of insur-
ance made or entered into by the company
may be made either with or without the seal
of said company; but said policies shall be
subscribed by the president or such other Of
ficer as may be designated by the directors
for that purpose, and shall be atteSted by the
secretary thereof
Sec. IL. Transfers OF stock NAV be made
by stockholder Or his legal repres sntative,
subject to such restrictions as the directors
shall from time to time cstnbli sh In their by
laws.
Sec. II. Whenever any company organized
under this act shall, in the opinion of the di-
rectors thereof, require an increased amount
of capital, they shall, If authorized by the
holders OF Il majority of the stock to do so,
file with the comptroller of state n certificate
setting !orth the amount of such desired in
crease, and thereafter such company shall
be entitled 10 have the increased amount of
capital fixed by said certificate; and the ex-
animation of securities composing the
capital stock thus increased shall be made in
the same manner as provided in section sew
en- of this act, for the capital stock first paid
IN.
Sec. 10. 1t shall not be lawful for the directors,
trustees or managers OF any insurance COM
pany organized under this act or inc1rpO.
rated undlr any law of this state, to make
any dividend except from the surplus profit
arising from their business, aud IN estimat-
ing such profits there shall be reserved there
nom II sum equal to forty per cent of the
amount received rs premiums on unexpired
fire risks and policies and one hundred per
cent of the premiums received on uneNpired
marine and inland transportation risks,
which amount 80 reserved is hereby declared
TO be unearned pre!.iums; and there shall
also be reserved the amount of all unpaid
losses, whether adjusted or unadjustcd, all
sums due the CORPORATION on bonds and
mortgages, bonds, stocks and book accounts,
Of which no part OF the principle or interest
thereon has been paid during the year pre-
ceulng SGch estimate Of profits, and upon
which suit for foreclosure or col elections has
not been commenced, or when, alter judg-
mant has been obtained thereon, shall have
ieMIaiifed more than two years unsatisfied
and upon which interest shall not have been
paid; and in case of any such Judgment, the
interest due or accrued thereon and remain
ing unpaid shall also be reserved. Any div
idends made contrary to these provisions
shall subject the company making 1t to a
forfeiture of their charter.
Sec. lG. No company organized under this
act shall purchase, hold or convey any real
estate save for the purpose and in the man
ner herein set forth, to-wit: LIST Such as
shall be requisite for its convenient accom-
mediation in the transaction OF its business.
I'd. Such as shall have been mortgaged to it
in good faith by way of security for loans
previously contracted or for money due; or,
I'd. Such as shall have been conveyed to IL
in satisfaction Of debts previously contract
ed in the legitimate business of the company
or for money due; or, 18th. Such as shall have
been purchased at sales or upon Judgments,
DEGREES or mortgages obtained or made for
such debts.
Sec. II. 1t shall be the duty of the presi- |
dent or of the vice.president and secretary of
each company organized under this act or
doing business in this state, annually, on
the first day of January of each year, OF with |
in sixty days thereafter, TO prepare under |
oath and deposit in the office of the comp
trolcer of state, full, true and complete |
of the condition of such company |
Oh the last day of the month of December |
preceding which last statement shall exhib.
i the following items and facts in the follow
ng forms, Wiz
First. The name ofthe company, and where
coated.
Second. The name of the officers.
Third. The amount Of capital stock of the
company
Fourth. The amount of capital stock paid
Up.
Flth. The property or assets held by the
company, specifying the value, as near as
nay be, ofthe real estate owned by such com
)any.
The amount ofcash on hand and deposited
II banks to the credit of the company, and
n what bank the same is deposited.
The amount OF cash in the bands OF agents
nd in course of transmit sion.
The amount of loans secured by first mort
ages on real estate, with the rate of interest
hereOn, specifying the location of such real
state and It's valuation.
The amount of all other bonds and loans,
nd now secured, with the rate of interest
hereOn.
Tue amount due the company on which
ldgments have been obt lined.
The amount of stocks of this state, of the
United States, of any incorporated city of
his state, and of any other stock owned by
he company, specifying the amount, num-
ers of shares, and par .and market value of
ach kind ofstock.
The amount of stock held by such COM
any as collateral security for loans, with
mount loaned ON each kind of stock, its par ,
nd market value. 4
The amount of Interest actually due and !
npaid $
All other securities and their value ,
,SiEth. The liabilities of such company, ,
1ecifying the losses adjusted and due. /
Losses adjusted and not due. (
Losses unadjustcd. {
Losses in suspense and the causes thereof. I
Losses resisted and in litigation. {
Dividends either in scrip or cash, specify I
IL the amount of each declared, but not /
ne. !
Dividends declared and due. n
The amount required to reinsure all out d
anding risks on the basis OF forty per cent d
the premium on all unexpired fire risks, 1
Id one hundred per cent of the premiums /
l all unexpired marine and inland trans +
)rtation risks. #
The amount due banks or other creditors, +
The amountoi money borrowed, and the
curly therefor.
All other claims against the company. s
SereHh. The income of the company during u
e previous year, stating the amount re- s.
lived for premiums, specifying separately q
r fire, marine and inland transportation s.
emiuins, deducting reinsurance, the II
iount received for interest, and from al 81
her sources. N
Eighth. The expenditures during the pre- u
ding year, specifying the amount of losses n
i'd during said term, stating how much of q
e same accrued pri r, and how mucn sub b.
Iuent to the date of the preceding state C.
INT, and the amount at which losses were
imated in such preceding statement. In
he amount paid for dividends, the st
lount paid for return premiums, commits OIL
ms, salaries. expenses, and other charges al
officers, agents, clerks and other EN- q
wees. pI
he amount paid for local, state, national e.
ernal revenue, and other taxes and duties. IT,
he amount paid for all other expenses, Ill
luding printing, stationery, rents, furni- ca
e, etc.
li,lfh. The largest amount insured in any ca
risk. to
snth. The amount of risks written dur
the year then ending. tn
7crcna. The amount Of risks in force hav- fi
less than one year 10 run. ut
ireljlh. The amount OF risks inforce hav- er
more than one, and not over three years an
un. m,
The amount Of risks having w
re than three years TO run. inl
DuHcenh The following question must ~,
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