The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-05-27
THE CRAIG BILL
To Be ENFORCED
Penalty for its Violation is
5000 a Day.
TSEASURER TOSUE FOR IT
HE SAYS HE WILL PROSECUTE
ALL OFFENDERS.
INSURANCE COMPANIES ARE COMING IN
Those that Have Already Complied With The
Law are Finding il Big Advertise
ment. Oilers Rushing 10
Get in Before June list. =

The Craig bill, sections 4 and ; pro-
vdes as follows:
Section L. That on and after June l,
1890, it shall be unlawful for any such
corporation to do business or to attempt
TO do business in this State without hay
ing fully complied with the require
nlents of this act.
Section ). Any such corporation yio-
lating any provision of this act shall
forfeit to the State of North Carolina
Il Il penalty of 5000 for each and every
day after the first day of June. 1899.
or which such corporation shall have
continued to operate or do business
without having complied with the re-
quirements of this act Such penalty
shall be recovered by the treasurer of
the State for the benefit of the State of
North Carolina and it shall be his duty
to sue for such fOrfeitures in the SUI
perior court Of Wake county as the
same accrue.
Now that several companies, Drawer
than the others, has dared to side up
to the Craig bill and have not been
on the other hand have found it the
most harmless sort of Il thing. the
other companies are beginning TO tumble
over one another trying to get in before
June 1.-The time fixed by the act.
Yesterday agents were writing letters
urging that certified copies of the chart
or and bylaws be sent at once to the
Secretary of State SO that the companies
they represent may become domestic
corporations. Some were even using the
wires, fearing that the mails would not
he quick enough.
An agent yesterday told me- said
State Treasurer Worth, that his com
pany had taken out license to do bust
ness in this State and he was going
to do it, regardless of the Craig law. He
asked me what | would do to him in such
event l replied that if his company
failed to comply with the law and he
was doing business on the first day of
June, | should at once institute suit i'll
Wake Superior court to recover the
penalty of 5000 a day. That's the law
and | shall enforce it until it Is re-
pealed or declared unconstitutional.
1t is this provision of the bill and the
State Treasurer's determination to en-
force it that is causing so great uneasi-
ness among insurance men. Then again
they are beginning to see what big ad-
yertisement it is for the companies that
have come in and said they have no
objection to doing business under the
laws and courts of North Carolina.
SO far only five life companies have
come in, but three other companies have
Of
Those that complied with the Craig
bill are:
New York Life--J. ID. Church, of
Charlotte, State agent.
Pacific Mutual-A. Il. s. Lindsay.
Raleigh. State agent.
Fidelity Mutual--W. b. Farwell, Raj
eigh, State agent.
Mutual Reserve Fund-W. NJ. Steven
son, Wilmington, State agent.
Northwestern Mutual-J. II. Boat
wright. Wilmington, State agent.
Those that have indicated their pnr-
pose of complying with the law are:
Mutual Life of New York-Winston
Bresee, Charlotte, State agent.
Union Central--C. J. Hunter, Raleigh,
State agent.
Equitabe-James Southgate, Durham,
State agent.
Fire companies have filed papers and
become domestic corporations:
German American--W. S. Primrose
Raleigh, State agent.
German Alliance-Alex Webb, Raj
eigh State agent
American Fire of Pennsylvania-W.
w. Smith. Raleigh. State agent.
Connecticut-C. c. Chardbourn, Will
mington, State agent.
Continental-W. w. Harris. Whining
ton, State agent.
Imperial-W. Fl. McCabe, Durham,
State agent.
Northern Assurance--M. >. WIZARD
Wilmington. State agent.
Southern-W. ID. Hay, Raleigh, state
agent.
Teutonia-T. 7. Hay, Raleigh, State
agent.
The Virginia State. Ct. T. Hay. Raj
eigh. State agent filed papers but they
were not properly certified and had TO be
sent back.
Also the Preferred Accident &C.. G.
Crow. Raleigh, State agent filed papers
not properly certified. They nave peeh
sent back for correction.
Nj. 1HiutS II. 1NoutiSdte, VI AD"'
one of the best insurance men III the
State. said last night he thought all the
insurance companies would come in.
They'll have to- he said, they have
Just been holding off to find out some
thing about the law. But | think they
need have no fears as to the future.
The people of North Carolina are not
hostile To insurance companies, and
what's better they are just. l do not be-
geve any unjust advantage will ever be
taken of this law"
Those popular Pirates will be at the
academy of Music again this afternoon
nj > o'clock Admission will be %
cents. This is your last chance to see
Them