Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-03-25
RALEIGH's BUDGET.
General Ransom's Cotton Crop-i
Insurance Law.


RALEIGH, n. c., March 2L-(Speciai'-
To-day Superintendent Mebane receiver
from DR.. j. L. ". Curry, of Washlhglo"'
ID. c., sl,7OO as this States apporuon-
ment OF the Peabody school fund. Inls
money will be divided as follows: one
thousand, four hundred dollars 10 the
Normal and Industrial School at Green's
boro; 5000 to the Normal School at WIN
ston; $50 to the Normal School at Eliza
beth City, and $50 to the Normal schooi
at Fayetteville.
A letter received here from General
Ransom states he will put LOW Deies OF
cotton on the market next week. ihe eX-
Senator is one OF the largest cotton raisers
In the South, and, quoting his own phrase
his cotton has an eloquent staple.
II is reported here that the street-car
company will soon be reorganized.
As soon as the Day case is decided the
Governor will call a meeting of his councli
and recommend that the State treasurer
make a loan Of $500 for the support ana
maintenance of the criminal insane, an
appropriation which the last legislature
by an oversight, failed to make.
Several kilograms and letters have been
received from some of the northern cues
asking If there is an antitrust law In
of such law. OF course, the reply to this
question is. that the last General Assem-
bly, did pass an antitrust law, but IL IS
not effective, either in regulating or sup
pressing trusts No trusts, however, are
organized under the laws of this State.
ce-Commissioner Young says
that there are 129 insurance companies
in this State, and most of these have
sgnified their intention OF reregisterlnS
under the new law. Some OF the COM
panies, he says, are badly frightened,
thinking 1t questionable If the nature OF
their assessments or their general bust
ness will allow them TO register under the
new act. Il continue to emphasize said
Mr. Young, that every insurance com
pany Is required to deposit a copy OF It's
charter and a statement OF its financial
condition in such form as the Commits
soner may direct and ii Is required TO
show to the Commissioner that IT Is fully
and legally organized TO do the KIND or
business II proposes to transact.
1T is not generally understood that
under the new law all assessment ana
fraternal orders that write, or pretend
to write, any kind of insurance, are now
under the direct supervision of the Insu-
rance Department, and must obtain from
the department the license 10 do business
in this State. heretofore a license for
these orders was unnecessary. This pro-
vision applies 10 the Knights OF Honor,
the Royal Arcanum, the order Of the
Heptasophs and all other orders OF a
similar kind.
1T should be remembered, too, that
an agent who places any risk in an UNI
licensed insurance company renders him
self liable to indictment, and also Tor
any loss that may occur under the policy.
And any man who takes out policy in
an unlicensed company cannot maintain a
suit against the company"
The recruiting office is sending men
from here every day. Major Davis, who
has charge Of the recruiting station, be-
lieves that a great many men from the
First North Carolina Regiment will re-
enlist through the Office.
The Governor has issued commissions
as notary public to John Francis Wat
lington. Reidsville, and Francis ID. Win
ston, Windsor.
Stock in the Atlantic and North Caro-
lima railroad remains practically unat-
fected by the contention between the old
and new directors 1t has recently been
sold at SD, which is about the usual price.