Pierce Butler

“ As against the joint attack the reduction has been sustained by the court of last resort. Plaintiff has not repaid the policyholders. It now assails the statute as well as the order, and seeks again to prevent the taking effect of the prescribed rates. The retention of the higher premiums that it obtained by means of the stipulation and the denial of its promise to refund are facts properly to be considered. Courts of equity frequently decline to interfere on behalf of a complainant whose attitude is unconscientious in respect of the matter concerning which it seeks relief. ”

“ The superintendent may call a hearing to investigate the necessity for a rate reduction; the companies will produce evidence required by him or that they may see fit to present; at the conclusion of the hearing he will make findings of fact and announce his determination thereon, and he shall also make certain specified findings.
If, based on such findings and determination, an order be made reducing rates, it will apply alike to all classes of risks, and, if dissatisfied, the companies will proceed to secure a review of the order in the circuit court of Cole county. ”

“ The stipulation and order constituted the only basis of the companies' right to continue to collect the higher premiums. When read having regard to the circumstances and context, the quoted language reasonably may be construed to be a promise by each company to return to its policyholders the excess charges paid by them pending final determination of the validity of the reduction.
Plaintiff claims that the superintendent failed to make the specified findings, and so relieved it from any obligation under the stipulation. ”