S7"I'lib'I.\-7'F:.\'DENT OF 7'IIE IXSUR_1.\'Ch' J)EI'_II?T.IIEx7'. Yxxix SOUND CONSTRUCTION OF RETALIATORY LAW.

Superintendent Kemp, of the Ohio Insurance Department, has recently rendered a decision which deserves to be kept on record in the Insurance Department of every State in the Union, as an example of sound, rational and conservative views on the interpretation of retaliatory insurance legislation.

In order that the occasion and the point of the decision may be duly appreciated, a little preliminary history is necessary.

The Fidelity and Casualty Company of New York was incorporated and commenced business in 1876. Its charter authorized it to do four kinds of casualty insurance, namely, Fidelity, Accident, Plate Glass and Stearn Boiler insurance. In 1879 the statue was so amended that there-after no company could be organized in this State to do more than one of said several kinds of business. As this amendment had no retroactive effect, the Fidelity and Casuality Company continues to do the foar kinds of business. Last year a rival casualty company of New York City, incorporated since said amendment and there-fore entitled to do but one of the several kinds of casnality business, procured a bill to be introduced in the Legislature of this State, which became a law April 26, 1887, as chapter 215 of the Laws of that year, entitled "An act in relation to health and casualty insurance companies of other States." It was an innocent looking bill, the intended use, of it having been carefully concealed by its prornotor from the Legislature and the Governor. Its ostensible purpose was to prevent companies from other States being admitted to this State to 'do more than one kind of