The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1876-03-31
INIPORTANr TO INSURANCE
COMPANIES.
The Law which Aeeqires Them
30 PablISlA a Statement OF
their Business.

The Law which AteQIres Them |
90 Pabl1Sh a Statement OIL
their BnsIness.
The attention of Insurance Com |
panies doing business in Kansas,
and of newspapers, is respectfully
called to the following:
EDITORS EMPoRIA NEWS
Since writing you Oh the 9th inst.
have more maturely considered the
opsis ofannual statementas provided
now of the opinion that said Sec
part of chapter 90, Laws of ISL
and that company, not complying
with the provisions of said sec. z. Is
Sec, % chap. SO, Laws 1871.
Truly Yours
ORRIN L. WEIGH, Supt.
The sections referred to as re-
curing insurance companies, life
or fire, to publish a yearly state
ment, reads as follows:
SEC. Z. Every company doing bust
ness in this state, whether life or fire,
shall, by itself or authorized agent, pLb-
lish u synopsis of its last preceding an
nual statement made to the insurance
superintendent OF this state, In some
newspaper of general circulation in the
county where the said agent is doing bu-
siness. Said synopsis OF statement shall
show the assets aud liabilities OF said
company, and shall be published within
sixty days after said company shall have
made its statement as aforesaid, il said
company has an agent doing business in
any county in this state at such time; if
not, then at any time thereafter during
the year that such agent does any BUSH
ness IN any such county.
The section which provides a pen
atty for violation of the above or
any other section, is as follows:
SEC. 23. The provisions of this act
shall apply to individuals and partners,
and to all companies and associations,
whether incorporated or not, now or
hereafter engaged in the business of in
company, corporation or association,
whether organized in this state or else
where, either directly or indirectly, to
engage in the business OF insurance. or to
enter into any contracts substantially
amounting to insurance, or in any man
ner to aid therein, in tbis state, without
frat having complied with all the proVis-
ions OF this act. And any corporation,
company or association, violating tn
provisions of this section. and any indi-
Eidual, company, association or corpora
tiOn aiding IN any manner, either a. agent
or otherwise, in such violation, shall be
liable TO penalty of five hundred dollars,
to be collected rs other penalties under
this act.
The insurance companies which
transact business in Kansas take
out of the State every year humid
reds of thousands of dollars more
than they leave in it. Insurance is
! to great extent q necessity and
they accordingly fix premium rates
and enforce them that people find
heavy tax. Whenever anyone gets
claim against the companies they
are always ready to fall back on the
law, and pay only what the law
Obliges them TO pay. There is
therefore no reason or justice in
their always taking advantage of
the law when it is in. their favor,
and neglecting and violating it
when they think it is not in their
favor. The provision of the law
which requires a publication of
their business operations and con-
dition, is just and salutary one.
In other States such laws exist, and
are enforced. We find in the Chi
cago Daily Inter- Ocean of last Fri
day two columns of just such iusur-
ance company statements, each
statement about s inches in length,
and headed ("ofIiciai publication
We copy one as q sample:
(Ohicial Publicatlon.)
ANNUAL STATEMENT
OF the INSURANCE. COMPANY OF
PENNSYLVANIA, an ins urance compa-
ny OF Philadelphia. In the State of Penn
hylVania, on the 31st day of December,
| 1879, made to the Auditor of Public Ac-
counts of the State OF Illinois, pursuant
| to law.
CAPITAL.
Amt. cap. stock paid up in full 500, 0cO 90
ASSETS.
Script Of mutual ms. com. $4,000
Loans on bends and mort. I1S,S5o, 90
Stock OF sund. Penn. Cor. 69,I45. 80
! Loans of sund. Tenn. Ger. 160 655. 60
Bank stocks. $3.50 90
Loans ON collateral security. I25,7Oo. 90
| cash on hand and in bank - 22757.kT
| Int. due and accrued. . 5,9ST.6O
Premiums in course Of collection
and transmission. .........'. Ss,7sa.65I
Bills receivable. .......'..-. 80, AZ 30
Totala assets s6I1 oxo A