The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1903-02-27

OSpec tn2t the HONuIHeuE 10 IeH-
aral Nash which ongre will erect WI
in Raleigh. The monument 70 Gen.
eral Davidson to be erected under the
same appropriation VII probably be at
Charlotte. General Davidson was a ma
tive OF Ired-ll county. and Professor w.
A. Withers. of Raleigh. tells me left no
descendants.
An unfavorable report was MADE III
the legislature today on a b.'l prov:d-
ing tina each race can be separately
taxed to increase its school fac 1t es,
and allowing the taxation of each race
for it's schools. Z
The following Is the text of the i'm
Iportant senate bill 4oS, introduced BIZ
White. which has passed the senate
land today was sent to the house:
Saction 1. Any fire insurance con-
lpany authorized to do business in this
state is hereby prohibited from author
lizing or allowing any person, agent,
firm. or corporation who is a non-resl-
ldent of his state to issue or cause TO
lbe issued any policy or policies Of IN
%isurance on property located in his
Estate.
Section 2. Any person, agent. firm or
corporation licensed by he insurance
commissioner to act as fire insu ance
agent in this state is hereby prohi~tlAd
from paying directly or indirectly any
commission. brokerage or other VaiCa-
BILE consideration on account or any
policy or policies covering property IN
this state to any person. agent hrm or
corporation, not duly licensed by the
insurance commissioner as a fire insur-
ance agent.
Section 3. That whenever the insur-
'ance commissioner shall have or re-
lcelved notice or information of any Vlo-
Ilation OF any OF the provisions OF MS
act, he shall Immediately investigate
or cause to be investigated, such VIOLA
ton; and If a fire insurance comTany
has violated any Of such provisions
laforesaid. he shall immediately revoke
Its license for not less than three
months nor more han six mont's for
the first offence: and for each offence
thereafter for not less than one year,
land if any person, agent, firm or cor
Iporation licensed by the insurance COM
missioner as a fire insurance agent
shall violate or cause to be violated
any of the provisions of this act, ne
shall for the first offence have his +
Icense revoked for all companies for
which he has been licensed for not
less thar three months nor more th2n
six months, and for the second offence
shall have his license revoked for all
companies for which he is licensed, and
Ishall not thereafter be licensed fer anV
company for one year from the date
Eof such revocation.
Section 4. For the urpose Of enforc-
ing the provisions of this ac', tie in
! Isurance commissioner is hereby author
lied and empowered to examine per
: sons, administer oaths, arI send TO
; papers n records, and p failure OF
refusal On the part of any fire lnsur'
! ance company, person, agent, nrm OF
corporation, licensed to do business II
d. this ctate to appear before the lrsur'
!, ance commissioner when requested {
do so or to produce records or paper
or be examined under oath shall SUD
: ject such fire insurance company, per
1 son, agent, firm or corporation, to tn
penalties of this act.
2 In an interview with Insurance Com
4 missioner James r.. Young, he tel s M
THAT under the law every bold, invest
: ment, dividend, guarantee, registry o
[ such like company, before dong puSl
L mess in this state must be licensed o.
his department. He says hat he wen
to Charlotte on Saturday and bouh'
- lover one j.. "A. bTuililIiOllu, II w"
D representing The Economy Develop
ment Company, of Chicago. He is IN
5 formed that this company is a'so oper
= lating other agents in Asheville, an
+, that he will look into the matter thsre
commissioner Young tells me that he
e determined to break up the work o
n these companies unless they are iIcens
= ed by his department and that he ha
C written to the police officers in differen
: cities and towns in the state CALM
s their attention to this violating Of tn
law.
i Among other companies that he ha
i heard of who are working or att mpt
E ing to work in the state are thu Amer
= Iican Trust and Improvement Company
n Iof Fort WORTH, Texas, Home Co-opera
e tive Company, of Kansas City, Amer
d lean Home Assurance Company, OF chi
r lcago. ILL.,, Standard Guaranty AID Trus
Accompany, Washington, D. G., and tn
t international Registry Company. G
New York.
: Under the law each one Of these com
3 panies must apply to the lnsuranc
r department for license and be not OIL
II licensed by the department but pay tn
$, annual license prescribed by law, an
: any person or persons in the state rel
$ I~resenting companies without licens
st LAYS himself liable to fine and impris
q Comment.
le Commissioner Young says that tf
20 bankers Mutual Casualty Company,
y lDes Moines, Iowa is also attempting
l. lido business in this state without belr
ls licensed. They do business with II
Of bankers of the state and it would see
ar to De unnecessary to call the attentlt
Iuf this class OF business men 70 the n
"a ~cessity of doing business only with con
te lpanies authorized to do business in Il
st states. Many of these adjustment. al
l. bonding companies are rank frauds al
+ never make any returns to their pa
he irons. They advertise to loan money
n livery cheap rates and promise 20 enat
lAvery one to Suy a home at 4 very smf