The Savannah morning news., 1901-10-24
The Savannah Morning News.
Morning New

Putnam, H. w. Bell of jackson,
Joseph B. Cumming of Richmond, and
T. S. Payne of Ware. Since their ap-
pointrnent Messrs. Cumming and
Payne have resigned, and the Hon. W.
T. Gary of Richmond, and J. F. Daley
of Johnson, have been appointed in
their stead.
The board, soon after their appoint
ment, entered upon the discharge OF
their duties and proceeded at once to
have the building, which having re-
mained unoccupied for twelve years
was somewhat out of repair, put IN
proper condition and comfortably fur
nished for the reception of those for
whose benefit it was erected. This work
was completed and on the Sd OF
June the Home was opened and about
forty veterans We're received on the
first day, and the number increased
gradually until the Both of September,
when there were seventy.
On the last named day the building,
together with all the furniture in IT,
was totally destroyed by fire. The
state had insurance on the building to
the amount of $19.500, and the furniture
had been insured by the board OF trus-
tees for 81, ,0O0 All of the insurance ex-
cept $500 has been paid, and the W.
900 paid, which was in the name OF
the state, has been paid into the treas
ury. The insurance on the building
supplemented by voluntary contrlou-
tions made by the people all over the
state, will enable the board of trustees
to rebuild at once, and to this END aa-
wise that the money collected on the
policies of insurance which must go
into the treasury, be appropriated 10
the board of trustees for the purpose
of rebuilding the Home, and that TOT
it's support during the year 1902 SZO'Voo
additional be appropriated.
For a more detailed account OF the
operations of the Board of Trustees,
l beg to call your attention to their
report herewith transmitted.
bonds Deposited by Insurance Com
panies.
Under the law as it now stands "all
fire, marine and inland insurance COM
panies chartered by the state or tor-
eign governments" and all ''guarantee
companies, surety companies, tldeHly
insurance companies, and fidelity anu
deposit companies" whether chartered
by this state or other states
or by foreign governments,
before doing business in I@nis ~
state are required ito deposit with lle
Treasurer bonds of the United State9
VI JULIUS VI billo oAuNO NAAANiit
to the acts and resolutions of the Gen-
eral Assembly. are valid, and W2ICn
amount, according to their face NaIues,
to 100000 for fire, marine ana lnla',I
insurance companies, and for gu1i5
antee, surety, fidelity insurance odl an :,
fidelity and deposit companies, S-9Vy1,
These deposits are, in my oplhlo.i'
formed in the light of recent eNpel
encees, not sufficiently large. Inc "a "a
iginal acts of the Legislature ID
them in the case Of fire insurance 90
panies at $4,000. and surety coInpau.I,,e
at $780, 900, but at the instance OF So ~
OF the companies, as / am adViseu' -,,f "a,
deposits were reduced 10 the pIei a.
figures. We have had an instainssg, s,,,tv
the recent past in which the haDl' ~
OF a single company 10 the hol9 ,te
it's policies in this state eNceel l'',,sfv
deposit, and another In when = srd
company's liabilities on the star tax
county bonds OF a single defaull i55.ls,,,elt
collector were $4,000. while lts 1'i
was only $4,000. ,.,, any
Again, under the present lnm, 80 IN
surety company may become t.,,g,sot
any sort Of bond except aura. sn4
bonds and bonds of city coln' al
state officers" without any eeP'...,obt
an / think the scope ~ me laH fha
90 BE- broadened ~ ns 90 auih'. .ife.
acceptance Of these companl''