The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-05-28

Up to last night exactly twenty-five
lima companies under the Craig Bill.
They are divided as follows: Life, q;
fire. 10: bonding, /.
Quite Il number of other companies
have given notice of their intention to
comply with the law as soon as they can
get the proper papers here.
Next Wednesday. June LIST, is the
time limit fixed by the bill for corpora
lions doing business i'm the State to he
come domesticated. Such insurance
companies as now have agencies in
North Carolina must comply with the
law by that time, for they cannot close
up business here entirely.
Ii any companies think that by taking
new business they have stopped bust
ness and will not be liable to the pen
atty, they are mistaken. The United
States Supreme Court, in "a late case, in
which the Connecticut Mutual Insur-
lnce Company was a party 172 U. s.,
602) has held as follows:
"A foreign insurance company which
has been doing business within Il State
does mot cease to do business therein
when it withdraws its agent and ceases
to take new policies if its old policies
remain in force, the premiums on which
are sent to an agent of the company in
another State"
In such case the company is liable to
500 per day penalty, which can be
collected by garnishee process against
the premiums.
1T seems to me-" said a level-headcd
citizen yesterday, THAT too much prom
to the question whether certain insur
ancc companies will become North
Carolina companies under the Craig
Bill. 1t is a matter which concerns the
companies and no one else. If they re-
main they will be treated hike our home
companies and the other foreigm com
parties that remain. If any withdraw,
there will be more patronage for those
that do not and if necessary home capt.
tai will organize new companies and
keep the profits on the business here.
when Il corporation is permitted to do
business here. the favor is to the com
pany which does business for its profit
The company doing business here is
net doing it as IL favor to the State.
And it appears that most of the com
parties are beginning to take this view
of the matter. despite the efforts Of
certain persons to create Il scare and
multiply litigation.
There has recently been much talk
of il test case. 1t will probably con-" N
this way: Some of the companies now
doing business in the State will cot he
able to comply with the law by next
Wednesday. If they do not do SO the
State Treasurer says he will bring suit
for the S200-a-day penalty.
State officials were in consultation
yesterday about the Craig Law. They
discussed the ACCESSIBILITY of a test
ease, and it was agreed for the State
Treasurer and other officials to co-ope-
rate with the insurance men, and as
speedily az possible settle the matter.
Attorney General Walser was tele-
graphed for He wired back that he
would be here Monday
The State officials are determined
mat such companies as are really de-
sirous of getting into the courts shall
have an opportunity of doing so.
The following insurance companies
yesterday complied with the provisions
of the Craig Bill:
Bankers Life. Charles Il. Leviness.
Charlotte. State agent.
Cologne Reinsurance, Alex Webb,
Raleigh. State agent.
Hamburg Bremen. j. III. Boatwrght,
Wilmington. State agent.
London Assurance. w. W. Hodges
Wilmington, State agent.
Royal. J. $. Wynne, Raleigh, State
agent.
Commercial Union. w. w. Smith,
Raleigh. State agent
Caledonian L. b. Dewey, Goldsboro,
State agent.