retary of state, who, upon payment into the state treasury of the sum of seventy-five dollars, shall issue a certificate of incorporation, upon the receipt of which they shall be a body politic and corporate, and may proceed to organize in the manner set forth in their articles of incorporation or association, and to open books and receive proposals and agreements for insurance and premiums for the same, and subscriptions to the guarantee fund mentioned in section 7958, if the company proposes to organize with such fund on deposit, and issuereceipts therefor, and to keep such books open until the whole amount specified in its articles of incorporation or association is received; but it shall not be lawful for such company to issue policies or transact any business of any kind, except as aforesaid, until it has fully complied with the requirements of the next succeeding sections. (R. S. 1889, § 5882.)

ARTICLE VII.

GENERAL PROVISIONS.

SEC. 8006. Increase and reduction of stock.-Any insurance company incorporated under the laws of this state may increase or reduce its capital stock for the purposes, in the manner and to the extent prescribed by law: Provided, the board of directors of any company desiring so to increase or reduce its stock shall file with the superintendent of the insurance department a certified copy of the proceedings, both of the stockholders' and directors' meetings, at which it was determined to increase or reduce such stock, and upon being satisfied that the law has been fully complied with, that the proceedings were regular, that the condition and assets of the company justify the increase or reduction, and that the same will not be prejudicial to the interests of the policy-holders, the superintendent shall issue a certificate authorizing said increase or reduction, and showing that the stock of said company has been increased or reduced, the amount to which it is increased or reduced, the par valueof the shares; and such certificate shall be filed and recorded as in this chapter is provided for filing and recording the certificates of incorporation; and thereafter such company shall, with such increased or reduced capital, be subject to the same liabilities that it possessed or was subject to at the time of the increase or reduction of its capital; and the charter or certificate of incorporation of such company shall be deemed to be amended in respect to the amount of capital, and the par value and number of shares, so as to conform to such increase or reduction. (R. S. 1889, § 5921.)

SEC. 8007. Increase of stock, conditions of.-Any company that shall increase its capital stock under the provisions of the preceding section shall, in all things, comply with the other provisions of this chapter and its stock shall be subscribed and secured as provided in this chapter for companies incorporating thereunder. `(R. S. 1889, § 5922.)

ARTICLE X.

FARMERS' MUTUAL INSURANCE COMPANIES.

SEC. 8079. Farmers' mutual fire insurance companies exempt from provisions of chapter. - Hereafter all farmers' mutual fire and lightning insurance companies organized in this state for the sole purpose of mutually insuring the property of the members, and for the purpose of paying any loss incurred by any member thereof by assessment, as provided by their constitution and by-laws, are hereby exempted from the provisions of this chapter as applicable to general insurance companies, and nothing therein shall be so construed as to impair or in any manner interfere with any of the rights or privileges of any such companies doing a mutual insurance business in this state as herein provided: Provided, that such companies shall do business only in the counties in which they areorganized; and provided further, that any member of any such company may sue such company the same as if he were not a member thereof; and any such mutual fire and lightning insurance company may incorporate by filing a copy of its constitution and by-laws with the secretary of state, and paying the sum of ten dollars into the statetreasury. (R. S. 1889, § 5909, amended, Laws 1891, p. 165-y.)

SEC. 8080. Farmers' mutual tornado, etc., exempt.That hereafter all farmers' mutual tornado, wind-storm and cyclone insurance companies organized for the sole purpose of mutually insuring the property of the members, and for the purpose of paying any loss incurred by any member thereof by assessment, as provided by their constitution and by-laws, are hereby exempt from the provisions. of the insurance laws as mentioned in this chapter; and nothing therein shall be so construed as to impair or in any manner interfere with any of the rights or privileges of any such companies doing a mutual insurance business in this state, as herein provided: Provided, that such companies shall do business only in the congressional districts in which they are organized, until they shall have $400,000 worth of property or more insured; then any such company may do business in any or all counties of this state; and provided further, that any member of any such company may sue such company the same as if he was not a member thereof. (Laws 1891, p. 166, amended, Laws 1893, p. 186.)

SEC. 8081. Incorporated, how.-All farmers' mutual tornado, wind-storm and cyclone insurance companies may incorporate by filing a copy of their constitution and by-laws with the secretary of state and paying the sum of ten dollars to said secretary. (Laws 1891, p. 166.)

SEC. 8082. Farmers' mutual hail insurance companies exempt.-That hereafter all farmers' mutual hail insurance companies, organized for the sole purpose of mutually insuring their members against loss or damage to property and for the purpose of paying any loss incurred by any member thereof by assessment, as provided by their constitution and by-laws, are hereby exempt from the provisions of the insurance laws, as mentioned in this chapter, and nothing therein shall be so construed as to impair or in any manner interfere with any of the rights or privileges of any such compa

(y) 68 A. 424.

nies doing a mutual insurance business in this state as herein provided: Provided, that any such company may do business in any or all counties of this state; and provided further, that any member of any such company may sue such company the same as if he was not a member thereof. (Laws 1897, p. 131.)

SEC. 8083. Incorporated, how.-All farmers' mutual hail insurance companies may incorporate by filing a copy of their constitution and by-laws with the secretary of state and paying the sum of ten dollars to said secretary. (Laws 1897, p. 131.)

ARTICLE XI.

TOWN MUTUAL INSURANCE COMPANIES.

SEC. 8084. Exempt from other laws.-That hereafter all town mutual fire and lightning, tornado, wind storm or cyclone insurance companies organized for the sole purpose of mutually insuring the property of its members against any loss incurred by them from fire, lightning or wind-storm as may be provided by its constitution and by-laws, shall be exempt from all laws of the state of Missouri governing other insurance companies. (New section.)

SEC. 8085. Incorporated, how-may do business, when —by-laws.—All town mutual fire, lightning, windstorm, tornado or cyclone insurance companies may hereafter be incorporated by filing a copy of its constitution and by-laws with the secretary of state and paying the sum of ten dollars to said secretary; but such companies hereafter organized shall not be authorized to issue policies until the secretary shall issue his certificate certifying that it has complied with all conditions of this article and are duly authorized to conduct the business it is incorporated for, according to its constitution and by-laws: Provided, that any by-law in conflict with this article shall be void. (New section.)

SEC. 8087. Certificate issued, when.-It shall be the duty of the secretary of state, upon evidence being produced under such rules as the secretary shall prescribe, that any such company hereafter organized has bona fide contracts for insurance to aggregate one thousand dollars in premiums, to issue his certificate certifying that such company has complied with all the conditions of this article, which certificate shall be recorded in the recorder's office in the county where such company is located. A copy of such certificate shall be filed with the department of insurance of the state of Missouri. (New section.)

SEC. 8102. Town mutual plate-glass companies exempt. That hereafter all town mutual plate glass insurance companies, organized for the sole purpose of mutually insuring their members against loss or breakage to glass and for the purpose of paying any loss incurred by any member thereof by assessment, as provided by their constitution and by-laws, are hereby exempt from the provisions of the insurance laws, as mentioned in this chapter, and nothing there

in shall be so construed as to impair or in any manner interfere with any of the rights or privileges of any such companies doing a mutual insurance business in this state, as herein provided: Provided, that any such company may do business in any or all counties of this state; and provided further, that any member of any such company may sue such company the same as if he was not a member thereof. (Laws 1897, p. 137.)

SEC. 8103. Incorporated, how.-All town mutual plate glassinsurance companies may incorporate by filing a copy of their constitution and by-laws with the secretary of state, and paying the sum of ten dollars to said secretary. (Laws 1897, p. 137.)

SEC. 8965. Pools, trusts, etc., defined-penalty.-Any corporation organized under the laws of this or any other state or country for transacting or conducting any kind of business in this state, or which does transact or conduct any kind of business in this state, or any partnership or individual or other association of persons whatsoever, who shall create, enter into, become a member of or a party to any pool, trust, agreement, combination, confederation or understanding with any other corporation, partnership, individual or any other person or association of persons, to regulate or fix the price of any article of manufacture, mechanism, merchandise, commodity, convenience, repair, any product of mining, or any article or thing whatsoever, or the price or premium to be paid for insuring property against loss or damage by fire, lightning or storm, or to maintain said price when so regulated or fixed, or shall enter into, become a member of or a party to any pool, agreement, contract, combination or confederation to fix or limit the amount or quantity of any article of manufacture, mechanism, merchandise, commodity, convenience, repair, any product of mining, or any article or thing

whatsoever, or the price or premium to be paid for insuring property against loss or damage by fire, lightning or storm, shall be deemed and adjudged guilty of a conspiracy to defraud, and be subject to penalties as provided in this article; and provided, that if such insurance companies or their agents or the board of fire underwriters doing business in any city of this state, shall combine in any city of this state, either directly or indirectly, or agree or attempt to agree, directly or indirectly, to fix or regulate the price or premium to be paid for insuring property located within or outside of such city against loss or damage by fire, lightning or storm, such company so violating the provisions of this article, either by itself, its agents, or by any such board of underwriters, shall be taken and deemed to have forfeited its right to do business in this state, and shall become liable to all the penalties and forfeitures provided for by the provisions of this article. (Laws 1891, p. 186, amended, Laws 1895, p. 237, amended, Laws 1897, p. 208, amended-a.)

SEC. 8966. Certain agreements declared unlawful.-That from and after the passage of this article, all arrangements, contracts, agreements or combinations between persons or corporations, or between persons or any association of persons and corporations, designed or made with a view to lessen, or which tend to lessen full and free competition in the importation, manufacture or sale of any article, product or commodity in this state, and all arrangements, combinations, contracts or agreements, whereby, or under the terms of which, it is proposed, stipulated, provided, agreed or understood that any person, association of persons or corporations doing business in this state, shall deal in, sell or offer for sale in this state, any particular or specified article, product or commodity, and shall not during the continuance or existence of any such arrangement, combination, contract or agreement, deal in, sell or offer for sale in this state, any competing article, product or commodity, are hereby declared to be against public policy, unlawful and void; and any person, association of persons or corporation becoming a party to any such arrangement, contract, agreement or combination, shall be deemed and adjudged guilty of a conspiracy to defraud, and be subject to the penalties provided for in this article. (Laws 1897, p. 208.).

SEC. 8967. Trust certificates, etc., declared unlawful.It shall not be lawful for any corporation to issue or to own trust certificates, or for any corporation, agent, officer or employe, or the directors or stockholders of any corporation, to enter into any combination, contract or agreement with any person or persons, corporation or corporations, or with any stockholder or director thereof, the puprose and effect of which combination, contract or agreement shall be to place the management or control of such combination or combinations, or the manufactured product thereof, in the hands of any turstee or trustees, with the intent to limit or fix the price or lessen the production and sale of any article of commerce, use or consump

(a) Construed. 80 A. 247. Applicable to all corporations, foreign or domestic. Id. Principle of comity would not endow a foreign corporation with a capacity denied a domestic corporation. Id. If the governing officers of the plaintiff corporation combine with each other to violate any of the provisions of this section through the instrumentality of their corporate entity, then the corporation composed by them was a party to such illegal combination within both the letter and the spirit of the law. Id.