SUPERIXTF._CDEXI' OF THE ISSER.IN 'E DEPARTMENT.   Sli

business or risk ; provided, that nothing herein contained shall affect the business of any company now doing in this State, life and accident insurance only."

The " several kinds of insurance " here referred to as mentioned in the first section of the act includes the four branches of the business conducted by the Fidelity and Casualty Company, and three other branches not undertaken by it.

It was strongly argued by the protestants that the moment the Legislature of New York had passed the above act the contingency had arisen which would require the Superintendent of Insurance of this State to execute our retaliatory law. On the other hand it was claimed by the attorney for the Company that such contingency would not arise until a company, similar in character to the one in controversy, actually doing business in New York, should be denied the right to do the four classes of business above mentioned.

A construction giving undue weight to the words, " Doing business in such State," would sustain the latter view, while a construction giving undue importance to the words, ` So long as such laws continue in force,' would sustain the former claim. I can-not assent to either.

"Our Legislature has not seen fit directly to deny to Companies of this class the right to do the four kinds of business clone by the Fidelity and Casualty Company. A company may organize in this State on the stock plan at any time and do these four kinds of business. That citizens of Ohio are deterred from organizing a corporation for the purpose of prosecuting these four classes of business in Ohio, simply because it could not now enter the State of New York, is a contingency to remote too be of any weight.

As a matter of fact no Ohio company is incorporated for the purpose of doing the four classes of business mentioned. In view of the fact, then, that there is no charge made against the ability and the willingness of the Company to carry out all its contracts made with our citizens ; and in view of the fact that it is and has been an element in furnishing competition and consequent reduction in the price of the classes of insurance it handles, I conclude that the contingency contemplated by statute has not arisen.

"The retaliatory feature of our law was evidently enacted for the

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