, 1880-04-21
Judge Tu1ey Decides the Republic
Life Dead In Law,
With Some Interesting Dtcta Regarding
bankrupt Corporations.
All the Testimony in In the Post
and Mail" Case.
New Suits, Divorces, Judgments, Confess
sions, Eye,

-, 1e - 'o,.o! ~ .'' 1tta" ',a tr,,s 1.'.,,,,t
!. u, Neeoles' nnu.Na, % 70. Ane !Mpuune
down for ,innl hearing On tho question Of n
nornct,,ni Iuiunctfon and n tltssolutton uf tIto
ron,,,n,,v 4 nrnss-motInn ,rax ,,,aIa IN ,lfs-
,";saRnn h,1 = for IVA want of ;ur,stl,inn % ami f"r
various other reasons, and the ars'lmcht In
,rho Judge snItl the question which lav al
,ho fonn%nsio, % ~ th" nc case wns thu % cnns1tn. j
tionailty OF tho nct or lo'a' pfoVlu1hR 'or INC
dissolution Of life-insurance companies.
Tho defendant contendcd 1t was u,,.
constitutional, because i Impaired the
99lisa,on o. e .,,,, c',ass conI.act.
liv9 foI MY ysars, could Eq on unless such !
piled conditions Of The charter. Or for causes
known to tho law Mt tho time Of the lrcnr-
poratton. Tint consequently 80 in.lcli of The
act OF 1874 as proviued ior nroGeetlings
a'ls' tho Company @ 'sA Such qs To- ' renasr IL
Tie insured ti,ereIn.n was VOID, v imposing
cause OF iordeltuTe 4 nGt eonta,nen ~ ne
cahses Of forfeiture alleged n u,e petition
were not new causes q forfeiture, 80 that
the Legislature was Wltlloat M power TO w..
pose them: lrlvate CORPORATIONS {,a n.y. were y aaly
t,lre wien It incorporated nie.insuIanGe
purpose to asconlplIsh and d., the expeetatie9n
70 e II u tba sac
was then the consldofauon received by the
State. For that conslueratloL cons !l T. me GoSern.
inent stlpniatca WIN tab lncofpolat9ts tllht
a a is iot tne nowsns ns
sii2ulu not ee subsequently lllpaifea. ihe
obligation OF cqhtract when eould not Do
npairsd was ta9 !nw which bound The pn1ties
eye1y S etti sspe Shsthsf stisst'sv ts ya!'!|ty,
construction, Or discharge Of the cuntraeh
The present contract between we State
and the Company WIS nnt az absolute con-
that It should exercise Us functions
and privileges according To- the grant,
perform tho business ~ for, which
Was efeatea ;, ana ana 30 10 no % az 70 ica5 lor
however, to the operation OF all laws made
citizens. A natural person could do any,
tg ~ nt .vss py Sye1 soPWay eoGe w.
franchises, etc., granted TO a corporation
could not bo diminished or Impaired without
tho conseMt Oh the grantees. snll II was hot
1 III H noMe 3 so pSveres
TO in|uro other citizens IN thelr rights. Nor
was 1t part Of tue contract that II should bo
allowed to exist when unable u perform Us
tat Sptdh ha us esantees in WAS srant % soad e%s aat
up to tic, end for which they were
incorporated,, and, falling TINS, ulo
cliarter would be forfeited as for condition
broken. The leMgth Of time during which
= corporation could ceas9 from tra1lsactlng
US proper business anu Yet n0t l0rielt US
franchises dcpended upon, circumstances:
III tho case Of b9nk, days cessation OF
business 1night be cnuse for winding 1t Up;
n that OF collcgu, not even months. II o
llfc-instlrancc company ceased doing b.sst.
ness for year, especially II there was proof
It was insolvontz TINT would By goot ground
for closing w u.s. !, a5aitx: The statats, "! In
SoptSn; soe e Courts 70 aa he the
render Of tie frnnchises, though in Illinois
e eFs @ mdst 6e cdrnnraon Ga dfts5"nae e n1aecay r.
forfeited It's privileges, IL could not, after
fd syGad 9agn }4'atErs atEans resume asnl
Tho power Of Tie Auditor to begin pro-
GeednSs t9 wind Sp cotpsnny whensver ~
publio to have It continue longer In bust
moss. was only an inaatsltoriaI ore; A
i finn. Wien forfeiture of cllnrtGr WIS tn