Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1910-01-19
NATURAL RIGHTS
OF PRIVATE BANKS
MAY STATE CONTROL THEM TO
EXTENT OF REQUIRING
INcoRPoR ATIoN?
COMMONWEALTH SEEKS r
COMPEL INSURANCE coMPA-
MES TO MAKE REPORTS.
Madison. Jan. Is.

Madison, Jan. Is.
Two important cases in which the
state of Wisconsin is a party were
argued in the supreme court yester-
dav and decisions of them will be
awaited with much interest. One is
the case of Weed ct al against Com
missioner of Banking Nj. G. Bergh ana
attacks the law or 1909 which defines
banking and provides that only regu-
larly incorporated institutions may
engage in the business of. banking.
The case was brought by the owners
of the private bank at Weyauwega
and was originally tried in the cir
cult court of the seventh circuit,
Judge Charles NJ. Webb presiding, to
restrain the commissioner of banking
from enforcing the law which would
require the private banking firm to
become an incorporated state BANK.
Judge Webb decided the case adverse
ly to the petitions and the case came
to the supreme court for final deter
mination. For the bankers Attorney
Guy D. Golf of Milwaukee made the
oral argument in court yesterday. ffe
contended that the business of bank
ing is an inaIienable right one chat
any person may follow it. The state,
state has no right to prescribe that a
corporation must be formed before
any person may follow it. The state
by Deputy Attorney General Russell
Jackson contended that the law is
valid as one for the regulation and
control of the banking business, that
it in no wise abrogates the natural
right of the individual to follow the
business but prescribes the steps
necessary before he may follow it.
Insurance Laws.
The other case is that of the Co
lumbia National Life Insurance com
pany against the state and involves
the constitutionality of the insurance
laws passed by the legislature OF
1907 which require reports by all in
surance companies having policies out
standing in the state which were issued
therein. The state obtained a judg-
ment against the defendant company
in the original trial of the case in the
circuit court of Dane county, Judge
e. Ray Stevens presiding. for its fall
ure to comply with the law. The at
torneys for the company, one of whom
is former Senator John c.. Spooner,
contend that the law is extra terri
torial and that it is beyond the power
of the legislature of the state to pass
law such as the one in question.
The contention of the state is that
by virtue of the company having OUT
standing policies in the state which
were issued and delivered in the state,
the legislature has power to enact
laws for the regulation thereof ana
for the protection of the policy hoio-
ers in the state.
The defendant is one of the com
panies that withdrew from the state
just prior to the time when the laws
in question became effective it had
at that time 2S5 policies in force in
the state upon which it has continued
to receive premiums and pay losses,
doing the business through the Unit
ed States mails from it's home office
in Boston,
The case is a test one and involves
all Of the companies which Withdrew
from the state at the same time.
some IA Of them in ALL
: Deputy Attorney General Russell
Jackson made the arguments in thls
case also and the insurance company
was represented by Attorneys Fred
erlck H. Nash of Boston and Jackson
B. Kemper of Milwaukee