New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1853-02-28
NETWORK LEGISLATURE.

SENATE. ALBANY, Feb. o, 1883
Mr.. BARTLETT reported iayOrably on the bill
amending the General Railway Law, relGnve to lay .ng
out streets over railway tracks.
The bill TO amend the charter OF the Pacific
Steamship Company was passed
Mr.. BENNETT called up the Atlantic ana Ia
cite Rsilway bill.
Mr.. BABcocK renewed his amendment that
5per cent of the subscription should be PAID H. LosL
Ayes IL, Nsysl7
MIR. CooLIY said he desired the greatest hap
pness II the greatest number and novel TO reduce te
shares from one thousand % one hundred dollars w Is
lost, ~ ii 10 Is
MIR. BIBcocK moved 10 make the corporation
subject hose provisions OF the revised statutes wnicn
regulate the election OF directors OF mOneyed corpora
tons lie called the attention Of the senate % tae In
por,unce Of this II this company was 70 be called mo
existence il should be under OF the restrct9ns
known 20 law ard applicable 10 other corporAtion Ihe
Senate has Just decided that tha corporation Win enc
hundred millions Of dollars shall Be permitted 70 20 into
existence without the payment OF solitary dolnr-Io
start IN full being issuing rs stock over he world dong
what j. not Authorized 10 any other eorPoTaon-to go
into the hsnds Of men who may De Reputable, OF u
may be without character. There u no guaranty out
thaf the cOrpOroCn may pass into utterly worthless
hands Honest men may become dEPed into eeinS
s,ockhoders and they ought % have some means o. pro
teVtion His amendment proposed 70 eAiehd t1is P9y
,ac,iou Itwts in force in cse Of small cornpenies u
il wise and prudent Ia the discharge OF our iuy Is ~
clatoIs 70 the community 70 SCI us nehsi,OSs SCI
uorbtCr tbs embodiment Of pTule7Sed cePiAi u a.
Hundred millions q dollars, eaoe; n me country "i.
some guard and guaranty Il tins company 70 =. e.
loose without any jurisdiction Of cur eOeIs -. - "
would be very poor comfy toNIi cur s.s'e' = :.
Mir. BRIsroL said-The adoption OF tAs
s,,epdu,eu, would DC al rouscIse-perfect nonseise
unless power was given 10 the Courts o. - s1te ~
exercise their supervision IN otaef Ss4-es- A-e
has not provided for thai A., ~
The amendment vas adopted Oy ayes 10
Nsys G. The Nsvs were Nessrs. beaAe'~ D'-''0'' N"-
ger, Rogers, Smith and Wngnt ;l...,;,,
Mr.. BABcocK then calledtor the eoAsiderallon
&c ,he amendment here,iore offered BY NJ IAeer eo2
st.rutiuc an adInGrs.rSt.ye and nnsI.e-4 Ss -.
this corpors;ion He cdvocsfei Z IS 9 -
system Of check and balance % N-.-,1s
The amendment Was lost, by Ayes - Nays ~.
Mr.. BABcocK said this scheme was not heaIu
NJ alone in Nev.York Other States have pa ~,
,rned New Jersey Wisconsin And Ais.our. h.,e - -
srpsG 20 give leave 10 great corr go ~ u :,
5fn~inr the country With heir stock Il !, 1880 =
80, r're iran one sripr 70 the bow. Ae"'f ork :
70 eiye this corpora. beng and liei &C. = - -
" III the favors o: laI.
Mr.. VAN ScHooSHovES objected 70 any sneh
rr;peiI'e g. reles1ing al The a-s- alsts - :, - -
N ~ rssorr, 70 be irsttu:ed-tO vhA So -
80 -. Sone AZ washington. The Srl,e OF Ne" OK
IA higher duty than tas. O. beconas = 1870 ~ -
,7xi,- coypcrArOa, extraordinary L y - -.
drneerogs 10 rs powers Lesis-a1'e $500 i-s =.
-eySr given by thc ytoFls o. - sc y .1 = -
. a 20 be done IN O.her StStes Les tCr - -
,.rr,e and via, power u gwen let !. De khoNn ~
"a rr-nrsuV stc-l not b sclt - " a-e--z'o- -
So -iorsrrert O. the Stzse Ct AeF-i o.- - 4Ss'S
-er the General Gcvsrl,l>a a, q ~ Faease - -
ticyn TIE sac Ct New IS'k -. ''N3--- = =