The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1902-12-04
HIGH PRAISE FOR STATE Of
F!CiAL.
Fine Work OF Insurance Commissioner
Voung Receives Well Direci d and
Well Merited Comment from Prom
inent Insurance Journal.

Il leigh Post
The following bit of we'll directed
and we'll meI'ited comment. both rs
it applies to an official OF this State
and the laws governing insurance
companies, is taken from the South
eastern Underwater, of Atlanta, Ga:
IF the insurance commissioners Of all
the States would work as hard and in
diligently to drive out wildcat and I'M
licensed companies attempting to do 1.
so-called Insurance business as does JAS.
r. Young, Insurance Commissioner OF
North Carolina, lie result would brSOmc-
thing phenomenal. 1t j. possible that
Mr.. Young has an advantage over some
commissioners in that the laws OF North
Carolina are better for controlling the
situation than they are in some other
States.
This. however, illustrates What an in
surance commissioner should do. and
should be- He must fnmiiilrize himself
with the laws and then with The Insurance
situation; then by applying the laws i'll
force to the then present sIt atlOn. he s
enabled to determine wherein hey fail to
accomplish TIL most good to the great
est number Ii H.. has demonstrated his
worth in the administration of bis office
and thu conduct Il the business coming
under his charge, il is more than likely
that his Recommendations viii have
weight with the Lee is!atnre in .'nar'iny
desirable laws.
The trouble SEEMS to be that mO't' at
tention is paid to Keeping in office, and
of increasing the perqulSites under the
IS
serving the peeps" While rxamina tons
may be well enough at times, it is ii
noticeable fact that the more avarciOus
the office holder is, the more frequent the
examinations become. Then, too, ihese
searching and long drawn out tXa'1tina-
tons are nearly always mad" of Old IS
tablish-d companies, whose assets and
surplus accounts are known to be fat
aud OF sncll institutions n5,can afford to
pay We'll in the TOO frequent hold ups
that occur. 1t is equally noticeable that
these examinations are seldom made OF
the smaller, newer concerns whose finan-
rial responsibility and safety to the pol
icy holder thereof are unknONn, but OF
! which the reasonable assumption is, that
their ability in he way Of fees must he
necessarily limited. The reason is OBJ
viulls.
CAS- an instance Of what Commissioner
Young is dOIngfAr the people Of his Sta te
and incidentally for the insurance flatrr-
nifty at large. is mentioned in IL circular
letter to he sheriff, and other officers OF
that Stat", recently issued calling their
attention to Important laws, and in
vOking their aid in preventing I'M licensed
companies and agents from conducting
| their business and Snl:cit;ng patrOna"tin
North Carolina
"iIe calls attention to the fac. that
| said officers may demand, and it becomes
| their duty, to require every insurance
| agent, whether general special, district
| or local, to eXhihit their license from the
State Insurance Depart ment, showing
| their authority to solicit business in the
State. Failure to exhibit license shall
| render the said agent liable, on cOnvic-
| ton before a Justice of the Peace. to a
! fine of ten dollars, or Imprisonment for
| ten days for each offensp. Furt herInOre,
Commissioner Young every sixty days
sends to the clerks of the Superior Courts
in every county, a list containing the
names of all insurance companies assO-
| Citations and fraternal orders that have
b' en- licensed by the insurance depart
, ment of that State
"lf concerted action of this kind was
adopted by the insurance departments
! of all States, the "wildcat' and fake as
| sessment concerns would find rough sled
ding. Besides, more good would result
| to the citizens of the United States and
| there would be less cause to make So
many examinations. Mr. Young has
been Insurance Commissioner of North
Carolina about three years, having been
elected to the position at time the office
was created. He has gotten it's affairs
we'll organized and systematized and is
clearly the right man in the right place