In re Protection Life Ins.

BLODGETT, District Judge.

This is an application by the assignee of the bankrupt, the Protection Life Insurance Company, for an assessment upon the policy holders, which it is claimed the company should have made, but neglected to make, prior to the institution of winding-up proceedings by the auditor of this state.

The material facts bearing upon the application seem to be these: The original charter granted the company by the general assembly of Illinois in March, 1867. authorized it to do a life insurance business as a mutual company, all policy holders becoming members and being entitled to…