Publications - Nebraska State Historical Society Volume 7

Publications - Nebraska State Historical Society Volume 7

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1898 edition. Excerpt: ...for crossing the spring branches and wet weather drains with which the territory at that time abounded, was provided for. The Western Exchange and Marine Insurance Company, with its capital stock of $50,000, and R. W. Latham, William Kempton, James S. Izard, J. McNeale Latham, W. E. Moore, Thomas H. Benton, Jr., and their associates, not to exceed thirteen in number, their heirs and assigns as incorporators, was duly incorporated and the necessary plans and specifications provided, ready for business. It has never been my pleasure to form the acquaintance of that artificial individual, and whether "the legal results" of that law have ever been manifested, I am at this moment unable to say. I think, however, its life was short, owing, possibly, to the inexcusable blunder of the legislature in selecting the unlucky number--13--as the maximum nunfber of incorporators. This was a bad break and one for which we can imagine no valid excuse. I think it "killed the bill." Had that organization survived we would have had some legal results right there, for by the terms of the bill the "heirs" of the incorporators were not forgotten, and, though unborn when the law was passed, they were "by act of law" made a part of that corporation, whether agreeable to them or not. It is quite probable that the "object of the bill" was to change the rule for the classification of property and make the capital stock of that corporation real estate, descendable to heirs by the law of inheritance. These things are "hard to find out." Competition and the law of the " survival of the fittest" were not forgotten and so "The Franklin Insurance Company" was also set upon its feet with more

Product details

  • Paperback | 92 pages
  • 189 x 246 x 5mm | 181g
  • United States
  • English
  • black & white illustrations
  • 1236894367
  • 9781236894366