William R. Day

“ Assuming, without deciding, that the Phoenix Company occupied such attitude in the state of South Carolina as to entitle it to claim the benefit of the equal protection clause of the 14th Amendment, we are of opinion that upon this record no such facts are shown as would lead to the conclusion that the action of the insurance commissioner in this case amounted to a deprivation of the equal protection of the law. ”

“ It is the contention of the insurance company that the action of the commissioner in undertaking to exact from it as a condition of receiving a license the investment of at least one fourth of its reserves in the securities as required by the commissioner, and in accepting from other insurance companies, which had complied with the requirement of the commissioner, the bond of a surety company, and issuing to them a license, was discriminatory. ”

“ That no greater burdens should be laid upon any one than are laid upon others in the same calling and condition.' In this general definition, the court recognizes, as it always has, that what the equal protection of the law requires is equality of burdens upon those in like situation or condition. ”