The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-03-10
TAKEN BY THE HORNS
Continued from First Page)

commissioners shall have the same power
10 make and prescribe such rules and
regulations for the government and con-
troll Of such express companies as is or
may be conferred upon said board OF
railroad commissioners for the regu.a ton
Of railroads. Any agent OF officer OF any
company falling TO comply with the or
der Of the board of railroad commits
| sioners shall be guilty Of misdemeanol
and be fined not less than 500 nor more
| than $500.
Sec. 3.-The board OF railroad commits
soners shall have authority and il shall
| be its duty TO call upon sucn express
companies for reports, and investigate
| their books in the same manner as may
be prescribed by law for the regulation
! Of railroad companies, and the said board
of railroad commissioners shall have
power and authority to institute suits
sue out with writs and process as may be
applicable and authorized for the regula-
ton of railroad companies. All laws
rules and regulations made and prescrib-
ed for the government and control OF
railroads now or hereafter 10 be enacted
in 50 far as they are applicable shall be
Of equal force and effect against all ex-
press companies.
IRRIGATION BOARD ABOLISHED.
The senate also passed a bill abolish
ing the state board Of irrigation. This
will go through the house also bu+ it is
not understood TO mean the abandon
ment OF irrigation stations and expert
ments. but contemplates placing these
matters under control Of the faculty Of
tho state agricultural college at Mar
haitian.
BRIEDENTHAL'S BANK BILL.
The bill prepared by Bank Examiner
Briedenthal, after being stretched and
torn and patched until it is hardly recog-
niZable, got through the house yester-
day and is now ready for the governor
When the bill was up in the senate that
body cut Mr.. Credentials salary $500,
but when the matter came up in the
house he got on the floor and succeeded
IN getting his pay placed at the original
figure.
NEW INSURANCE LAW.
The following. bill regulating realty in
surance was passed by the house this
morning:
Section 1. Whenever any policy of in
sCrdnce shall be written TO insure any i'm
provements on real property in this state
against loss by fire. tornado or lightning,
and the property insured shall be wholly
destroyed, without criminal fault on the
part of the insured or his Assigns, the
amount of insurance written in such
policy shall be taken conclusively to be
the true value OF the property insured
and the true amount of loss and measure
OF damages. and the payment Of money
as a premium for insurance shall be
prima facie evidence that the party pay
ing such insurance is the owner of the
property insured; Provided that any in
surance company may set up fraud in
obtaining the policy as a defense to a
suit thereon.
LIFE INSURANCE FUNDS.
Also a measure relating to the invest
ment Of the funds of life insurance COM
panies, as follows:
Section 1. That section 81, OF chapter
50, Of the general statutes of 1889, be
amended 80 as to read as follows: CSS72)
Investment of funds. "a Any life in
surance company, or any trust or loan
company heretofore or hereafter organ
ized under any law of this state, may,
by the direction and consent of two
thirds of the respective boards of direc-
tors, or finance committee, purchase or
invest. by loan or otherwise, any of their
funds in bonds, or notes and mortgages,
on unincumhered real estate, with fifty
pc" cent more than the sum SO loaned
thereon. or in stocks or bonds of the
United States. or of this state, or any
other state, or in bonds issued by any
county. city, town, village or school dis
trict of this state. pursuant to any law
OF tbs state. and such life insurance
company may also invest its funds, by
loans to its pulicy-holders, to an amount
not exceeding the reserve held by such
company upon each policy, to be secur-
ed by a promissory note of the policy
holder. and the assignment to the COM
pcny Of the policy upon which such loan
is made, anything in the charter of any
said companies 10 the contrary notwith-
standing.