Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1882-05-17

cept in case the loss is supposed to be less than three
hundred dollars, then the president and secretary
appoint such commit - to ascertain the amount o.
such loss or damage, provided that the board of d
rectOrs may appoint committee of not less than
three members of the corporation for the justmen
of all losses that may occur during the year, and in
of the inability of the parties to agree upon the
amount of such loss or damage, the claimant may
appoint DISTINGUISHED person on his part, and
upon receiving notice from such claimant of such
appointment the president of the corporation shall
forthwith appoint a member of such corporation,
and the two persons SO appointed shall forthwith
proceed to appoint third person, who shall be dis
Interested, and the three persons 80 appointed shall
constitute a committee of reference, who shall have
ul authority to examine witnesses, and to determine
all matters in dispute, who shall make their award to
the president in his absence to the secretary of
such corporation, which award thereon shall be final
The said committee of reference shall each be al
lowed the sum of two dollars per day fol- each days
service SO rendered and the sum of five cents per
mile necessarily Travelled in the discharge of such
duties, which shall be paid by the claimant, unless
the award of said committee shall exceed the
offered by the corporation in liquidation of such loss
damage, in which said expense shall be paid
by said corporation.
Section 4. Section of chapter Is of the general
laws of 1881 is hereby amended by inserting in the
fifteenth line thereof, and between the words
thereof" and together" the following words:
s'and of the necessary business expenses of such
corporation" so that said section when amended
shall read follows: Section 1. Amend section
1888 of the revised statutes by adding after the word
thereof" where it occurs in the sixth line of said
section, the following: together with all legal costs
and charges incurred in legal proceedings are
commenced to collect any assessment made upon
him. so that said section when amended shall
read as follows: Section 1888. Every person to
whom any such policy is issued shall be deemed
member of such corporation, and shall give his
dertakng bearing the date with the policy SO issued
to h binding himself his heirs and assigns to pay
his pro rata to the corporation of all losses
damages by fire lightning, which may be
tanned by any number thereof, and of the necessary
business expenses of such corporation together with
all legal costs aud charges incurred in case legal pro-
ceedings are commenced to collect any assessment
made upou him. and every such undertaking shall,
within ten days after its acceptance be filed in the
office of the secretary, and shall remain on file in
such Office except when required to be produced in
court evidence He shall also at the time of effect
ing such insurance pay such percentage in cash. and
such reasonable sums for policy may be required
by the rules or bylaws.
Sections. Amend section of chapter AZ of the laws
of 1881 by striking out the words sat the time of
making the assessment therefor" where they occur
in the thirtysecond and thirtythird lines, and by
adding at the end of said section tie following
words: 60 Every member of such corporation who
shall either neglect refuse to pay such assessment
at the time when specified in the notice sent him in
compliance with the provisions OF this section, shall
pay to such corpoIa alton fine of two per cent. of the
amount of such assessment for each week or part
thereof during which such assessment shall remain
due and unpaid" that said section when SO
amended shall read as follows: Section 1 Section
of chapter 251 of the general laws of 1879 is hereby
amended by striking out the word ''two,s where it
in the eighteenth line of said section, and in
sert in lieu thereof the word three" so that said
section whea amended shall read follows: Sec
ton l. Whenever the amount of any loss so ascer-
tanned shall exceed the amount of cash funds of the
corporation the president shall convene the board
of directors, who shall make assessment upon all
property insured by such corporation in proportion
to the amount thereof and the rate under which it
may be classified sufficient at least to pay such loss
provided, however, that such board of directors
shall be authorized if they see fit to do So to
up three and half mills, if such loss should
not require such amount; and when such assess
ment shall have been completed, the secretary shall
immediately notify every member of such corpora
ton, by letter or postal card sent to his usual post
Office address, of the amount of such loss, and the
due from him his share thereof, and the time
when and to whom payment thereof is to be made,
which time shall not be less than sixty days nor
more than ninety days from the date of such notice.
and the treasurer or person designated to receive
such money may demand and receive two per cent.
in addition to the amount of each such assessment
for his fees in receiving and paying over the
Such assessment, when collected shall be paid to the
person entitled thereto according to the terms of
the policy issued to him; provided, that if any loss
shall occur during the first eight months of any
year, the board of directors may borrow money
sufficient to pay such loss, at rate of interest not
exceeding eight per cent? and shall therein include
the interest in the assessment and direct payment
of such assessment to be made not later than the
thirty-first day of December next following Every
member of such corporation who shall either neg
lect or refuse to pay such assessment at the time
specified in the notice sent him in compliance with
the provisions of this section shall pay to such
poration a fine of two per cent of the amount of
such assessment for each week part thereof DUR
ing which such assessment shall remain due and
paid.
by inserting after the word tthereof where it
in the fourth line the words cor and so
many of them as they may have appointed COM
mittee for such PURPOSE, so that said section when
amended shall read as follows Section 1882. Any
member Of such corporation may withdraw there
from at any time by giving notice in writing to the
PRESIDENT in his absence to the secretary there
of, and paying his share of claims then existing
against said corporation; and the directors, or
jority thereof, or such and many of them they
may have appointed committee for such pur-
pose, shall have power to annul any policy by
giving notice in writing to that effect to the holder
thereof.
Section T. This act shall take effect and be in force
from and after its passage and publication.
Approved March II, 1882
Published April IL, 1891
CHAPTER 204.
AN ACT to amend section 1851 of chapter So of the
revised statutes, entitled of insurance corpora
items"
The people of the state of Wisconsin, represented
in senate and assembly, do enact as follows:
Session l. Section 1851 of chapter SO of the revised
statutes is hereby amended by inserting after the
word any Where it occurs in the third line of said
section, the word county," that said section when
so amended shall read follows: Section 1851.
Every such corporation organized under the laws of
this state may invest its funds and accommodations in
stock bonds of the United States of this state
or of any county, incorporated city town in this
STATE, or in mortgages being first liens real estate
worth at least twice the money loaned thereon and
it may also loan to its policyholders sums not ex-
caeding one-haf the annual premiums their poll
cies, upon notes to be secured by the policy of the
persons 10 whom the loans may be made, and when
such corporation shall transact business in any other
state, it may invest its surplus funds in any such
state on like security and under the restrictions
as IL this state No life insurance corporation Or
ganized under the laws of this state shall issue poll
cies insur1ng fire, Marine accident or livestock
risks nor do any banking business.
Section 2. This act shall take effect and be in force
from and after its passage and publication.
Approved March "a, 1882
Published April II, 1882
CHAPTER 800.
AN ACT to provide for the assessment and taxation
OF the property of telegraph companies in this
state, and to amend section 1915 Of the revised
statutes.
The people OF the state of Wisconsin, represented in
senate and assembly, do enact as follows:
Section 1. Any person, company or corporation
owning or operating any line of telegraph within this
state shall obtain license therefor at the time and
the manner provided in this act Such license shall be
year. Application therefor shall be made to the state
treasurer.
Section 2. Any person, company corporation
owning or operating any telegraph line within this
state shall at the time of applying for such license in
each year, make report in writing to the state treas
urer duly verified by such person or by the presi-
dent or managing officer of such corporation, which
report shall be in such form the state treasurer
may prescribe, anu shall accurately and truthfully
show the following facts:
l. The number of miles of telegraph line owned or
operated by the person, company or corporation SO
making application for license. and the number of
miles OF such line that are within this state
2 The number of wires employed on each disvisiou
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