The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1879-03-19
VOLUME XIII.


the said contract and assignment made on tn
| 9th Of April, 1876. between complainant an,
the Globe Insurance Company, be held valis
and binding; that the legal and equitabl,
/ rights Of the claimants to said fund under tn,
/ law be determined and settled by the Court
and the residue Of the fund, after all proper
chargs are paid, be paid over to complainant
Hemingway answered the bill, admitting
that he had made the payments to Parisot
Barrow- q Smythe, Morris Bros, Davis q
| Muller charged, but denying all fraud, and
insisting that said payments were q lien upon
the fund, and properly paid upon LEGAL and
proper proof. That in his action in regard
thereto he acted in quasi judicial capacity,
and hence not personally responsible Tor any
mistake OF judgment into which he may have
fallen
The other defendants answered, denying the
fraud charged and insisted that they were re-
spectiyely entitled to the payments received
by them.
The attaching creditors also answered, deny
ing all fraud and insisting that the claims up
on which their suits were founded werejust and
lien upon said fund. Parisot, by cross-bill,
set up a claim for loss paid for salvage Of a
steamer covered by his policy
After issues were made, and before he airing,
the cause removed to this Court, and on
May 20, 1877, by leave OF Court complainant
filed her amended and supplemental BILL which,
after reciting the allegations Of the original
bill, charges that after the filing OF the original
bill, by fraud and collision between Hemingway
and the plaintiffs in said attachment suit, the
said judgment against the Globe Insurance Com
pany and Hemingway, treasurer and garnishee
were obtained and that the same are void and
constitute no just demand or charge upon said
fund against compliments rights
To this bill Hemingway answered reitera-
ting the statement OF his original answer and
denying all fraud in relation to obtaining the
judgment in the attachment suits. The plain
titts in said judgments in attachment answered
the amended and supplemental bin denying
all fraud, insisting that said judgments are
valid and demand and a legal charge upon
said fund, and that the judgments are res adju-
dtoata and cannot be inquired into in this suit
Complainant has filed her answer to the cross
bill OF ParI-ot, and issues Joined on the several
answers. The pleadings and proofs are unusu-
ally voluminous, but the foregoing comprises
ali that need be stated to an understanding of
the questions presented and argued with ability
by the different counsel representing the re-
spectIve interests involved.
The first question presented is to the title
OF complainant To- the funds deposited with the
Treasurer for ii she has no title the bill must
be dismissed Neither OF the conyevances I'M
der which complainant claims is denied, but it
is insisted by defendants counsel that the as
signments were made subject to the claims that
might be on the fund under the laws of this
State. Whilst negotiable instrument must
be unconditional such is not necessary to trans
fer i claim Of the kind under consideration :;
the assignments are good on their face under
the State statute and are certainly good as
equitable assignments. 1t IS however urged
that the first assignment was void under the
Bankrupt law, and that the second cannot be
set up under the amended and supplemental
bill. To the first objection it is only necessary
to state that no one except the assignee in
bankruptcy could maintain this objection, and
this, under the sanction OF the bankrupt law
he has waived by assigning all the interest he
took under the assignment to him TO the COM
plainant. 70 the second objection it Is only
necessary to state that the assignment bv the
assignee in bankruptcy was but confirmation
of the same title derived from the same source,
and Is unlike n title derived from a different
person and of a different character. | am
satisfied that nothing Is shown to defeat COM
plainaut's title to whatever balance may remain
Of said funds after all the legal claims upon
il existing on April 9th 1876, shall have been
satisfied which brings Us to the much more
difficult question OF determining what these
claims are and this involves construction of
the Insurance Laws of this State, but few of
which have received construction by Su-
preme Court Section PAP OF the Code of 1871,
reads as follows:
a 1t shall not be lawful for any agent of any
Insurance Company, incorporated by any
" other State than the State of Mississippi, di-
"rectly or indirectly to take risks, or transact
81 any business of insurance, in this State,
without first procuring a certificate of au-
/" thority from the Auditor OF Public Accounts !;
" and before obtaining such certificate, such
"agent shall furnish to the said Auditor
Statement, under the oath of the President
or Secretary of the Company for which he
may act, which statement shall show:
" First. The name and locality of the
Company.
Second. The amount of it. capital stock
Third. The amount of its capital stock
"paid in
Fourth The assets of the Company, in
Guiding; first, the amount of cash on hand,
" and in the hands of agents or other persons !;
second, the real estate, unincumbered; third,
" bonds owned by the Company, and how they
" are secured, with the rate of interest thereon :;
" fourth, debts 10 the Company secured by
" mortgage; fifth, debts otherwise secured !;
sixth, debts for premiums; seventh, all other
" securities.
Fifth. The amount Of liability, due or
:" not due, to banks other creditors, by the
Company.
Sixth. Losses adjusted and due.
"Seventh. Losses adjusted and not due.
Eighth. Losses unadjusted.
Ninth. Losses in suspense, waiting Tor
{" further proof.
Tenth All other claims against the Com
pany.
Eleventh. The greatest amount insured in
g. any one risk
Twelfth. The greatest amount allowed,
q by the rules of the Company, to be insured
" in any one city, town or village.
Thirteenth. The greatest amount allowed
- To be insured in any one block.
Fourteenth The act of incorporation Of
9 the Company.
Fifteenth The certificate of deposit of the
estate Treasurer, as hereinafter provided.
1.-The statement shall be filed in the Office of
said Auditor together with a written instru
"ment. under the seal of the Company, signed
"by the President and Secretary, authorizing
"such agent to acknowledge service OF process,
" for and on behalf of such Company, con-
"senting that the service of process upon such
agent shall be taken and held to be as valid
as if served upon the Company, according to
"the laws of the State, and waving all claim
" of error by reason OF such service; and no
" Insurance Company, or agent OF any 1nsur-
lance Company, incorporated by any other
State, shall transact any business OF Insurance
Z" in this State, unless such Company Is pos
"sessed of at least one hundred and fifty
Thousand dollars, of actual capital, invested
:. in stocks of at least par value, or in bonds
cor mortgages of real estate, worth double the
"amount for which the same is mortgaged !;
and upon filing the aforesaid statement and
instrument with the Auditor, and furnishing
him with satisfactory evidence of such in
ssvestn1ent, as aforesaid, it shall be the duty of
"said Auditor to issue certificate thereof,
g with authority to transact business OF Insur-
lance, to the agent applying for the same.
Section 2444, provides that such agent, be
fore taking any risks or transacting any bust
ness of Insurance in this State, shallfile in the
office of the Chancery Clerk of the county in
which he may desire to establish an agency for
such Insurance Company, copy OF the state
ment filed with the Auditor, which must also
be published in some newspaperin the county.
Section PAS requires this statement to be
a,,rnaIIv