, 1876-02-02
INSURANCE SUITS.
Effort to Get Il liohcnring II, Hut
ler w. Walker.
Reasons Why the Supreme Court Should
Grant the Request.



.-.-.
Conslferabo e1cifemans haa pcon saf1oa ~
within thu ,,aet few months bv a IaEgs number
of a1,tr comm o,,ccd by policv-loIdes II, nouuo
,o,-,,,t ,,.n,a,,r, con,,.rss. ,n,,n,t ,,n stock
,'''.' a.. .l..'. T,'... .,,,t,
holocse OF tAe h"'he eehAPHhee' 4nero H'u1
wore 81! brought under secr. 1o nnd ~ Of the
General Insuianco law alonlcd March II, 1859.
gec N ia mn foltows.
II Tho rru.!.,. N, corporation, of ery ee,e!say Or;
lents or rrsos.s.n,es Of snch cos.p.ny to ihe
anl,int l,y HI, or .r 1narsted rntll tllr whole
a.aosus q tue rArul o' an'h company hltii have
h!sn ras IN !na, nna Certificate @efsot heofoea'
hcrt'h".'of" r'nsteen' ..-
Boo. 10 provides that ail insurance companies
heretofore organized lii tic State OF Illinois,
mil nov doing lu,Bi,,css in this Slate, nre hero-
r iro,,,t nn,tar Ill ,l,o n,ov,.,ona NJ thia ao,.
ny pioukn. unoo1 .'o., "a" ''.o p'ou..on ~ ~
o3cept thht tnelr cap'sAl may con'iuoo " -.
nnounta aud character nanod lii aud authorized
BY their respective charters, during tlo existing
term o. such charters, and tho Investment Of |
."' .,,u.,s.s sa..,. - .,,o,, ,n.n,ca NAV
'o' eaPnal a.'a aeoso " saea .,ai. a1,s,,
remain tho esao as prescribed oy tneir ehas'els'
anything In thlA net to tho contrary not"tth-
rtaudjpE: and such compnplos shall bo entitled
10 aYt tic privileges aud powers grauted them Gy
tnair charters,
Tho certificate referred to la ono iBaned 6J tho
Auditor and iljcd II, tho county whore thn conl-
tnny oooa busj,,css to tho effect that tho capital
q ock is iii pnij up
Ahout n year nco ain clio eult uaa brought by
| Frances Uutlor vs., i, +, Walker, Btockholder
| Of tbe Equitable 1uaursnce Company, on these
saulc pyoyiujous OF tlle statuto 4 demurrer
| ,vaa tilad to tho tcclarstlun and sustained, and
mn appeal takou to tue Supreme Court, where tho
DECISION Of the cours below was reyaruod.
| 7liE yrrlrME COURT I,xLp-
tho EauitabIo Insurance having boon incorpo-
| tnfcd IN 1Bt1 Under A epeciai shattor-f}lat tho
| act of 1863 was IN amendment to it's charter,
| and that it's stockholders would bo
| MA
| incornoratod under tho general inv. Thero
| wero but Two questions prosecuted by tho record:
lad tho Genorai Assembly the power, under the
reservation ID tho cuartar. to alter, amend. or
ronasl their charter, OF power TO impose dulies
| md liabilities not Imposed, but from which they
wore exempted b.. tho charter And, + thcse
| orctse It in epncting tho General INSURANCE Law
The Court thought that tho Assembly had tho
nowor. by virtue OF tho reservation Ia tie apccial
charter. 10 alter, amend, or repeal H.. Tho nine
,Ioasd nIoa ur'Jer tho cs,eral aw mud nude shsr
ntee ude aouaiy jiable It ns therefore
declacd That the demurrer HAoulu havo beeh
pvnrrnied. and tho liability agains; tile etock-
| nojtler establlshe4,
MtIer sever nf thia dacision. which 1ns rcn.
3aJnd l n October ias,. ''''
OVER goo su1TH
OF like character have boon commenced Agalnat
I ,nalia. Cosnmercsl, Mutual Security, Equitable
sicrchnnls', aui} ChIcngo Ftreman'B Insnrunce
{ten {o l,nRf
Comnaus Luz H. oa,s;at, ~, ~, mp,,a,,i
~ un rca. vii ho to ncar]v or nnitn bauhrnnt
| number Of our solid men. IN vicw OF thoso
f4cts, a pctltlou has been prepared by four Lead
lux legal tlrms, Hoyne. Horton llosne. Upon.
10y W',iioms T. TLnmnron vhci, hss boou 19ta.
anu Mita1as ~ ths Hnnqcme Canrs
, henteo W tAa oapicuto eou.s,
, AsE1So FOR REiIEAn1Ko,
:, and setting out sono facts tha. seem 10 PROVE
aaao na 'u'sJ ss,ho,t any scr;ons con,nst Tia Iet
nn anta out tfnt tin nutitioners ,Yero defending
susts Involving oyer = s21u,ooV Y. that ali tuoSs
salta WeEe plouens tot liz ,. uao VI "5 ~ =. v.u "
Bhuietdt L Mostoyes, attorneys for Tie appal.
!. liant in the case OF Butler l. Walker.
! Tho f''los'ns arc gur nr,pos.
j ~, which rcno.,inu IL usno,l
properly rresanel to st4 Court. hut tho cen.r.ry
Lat sa!d .ut WA originally btouet and prosecuted !.
tic court below 70 speedy termination, and wea ar
guod in this Court by the astorneya for both asts
With the purpoao aud dessa ct procuring duSiso.
eydtncs of such, our belief and IN support =
III" very grsse cAsrges witch &c feel eon'tsaned
.uers - ts iii Of esesptsons ho record md u
arguments Of tho tesiec;lfo attosncys, hed ~ sh'
ia S<ca,d-Wo rcs1xxifully sugsest that tho at1dasi
presented herewith shoW thas the ufpaao aiia op1e<
1t sad suit in ths coar below an III ~ Court
o Yroc.re ~ aaualcstiog BY this Court esisosa
tho Liability Of stoc1Aoldcfa IN info!seit hhusnat
" cnnpuuea, and then 70 purchase Tue lhdsotcdness
"a srci companies ut nominal price, And comment
suits against Stockholders to recover for such indoo
~, ctness agsns sm; III o. WHICH, seesas M 70 nase @ nos
snI th.t s3c r,tru of aach Ie!sous wss rather 70
taba lrecedans up9n patiM ana w. insomp.st,s y
ssnssn 9t iaaa aana aaa ic' iaftn ba cu
ATMra-We respectfully xuggea, tho following
somo Of tho points involved In the record In III
ca,,Yu, which wero not bfouaht to tho notice OF Il
Court: ,.
y !. naas, Hniat ness ~ .. .no s-,ntn -
IT. o. !nog Iof tnt ti- r.ntsis INV rnnt.nnn nf i
ut sMIn,a .,a chars.trr narned in ind suthor1xcl
irfr Tespeeye charterB during tho e14sing ter,ns
Euch charters, md tho Investments Of tho capital a1
te such companies may remain thu assne p
k- arribe S shsiE chattere anythshR ~ tnis aet 70
,f contrary notwit!lsaning;h and whilst fec. OF
Ter .xos T. mi ,nsdo MI of tRs ai,