The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-01-02

xor is based entirely upcn Ga pta instead Of pre-
mum notes and IL furnishes Indication how wsl the
change In the system III organization under tine
viii operate TIE puos Lad become justly alarmed a.
the want OF security in companies whose capital WAS
made up entirely Il premium notss.
The general public interest In these companies In
dused me TO furnish the tables hereto marked
and q showing, in minute detail the name, character,
capital and bu an Of ali the institutions in tina
incorporated by special acts Of the legislature and
niEed under the Of ls49 up an including year
1901, and also the com paniss organized 10 1858.
life LgGunoe.
The increasing importance OF life insurance psnies
to the people OF the Influences ms TO submit
summary Of the legislation in reference these
Institutions
Under the general act OF ls49 any lie
rance company having capital OF 500 00o could insure
lives in ihis State furnishing proof the Comptroller
that such amount invested 10 stocks OF noor
CAms.
Life and health Insurance composites organized very
rapidly uxder this law and agencies for companies char
tered BY 9th States here earnestly sought My prss
essors adopted circular relating to foreign companies
and companies chartered BY other States which u hereto
ANNEXED marked K ana shows the careful guardianship
Of this department Of the rights Of that large class Of
citizens uho were induced o insure hsr lives In these
April 1851 an act relation AL companies trans
acting the busines Of hs Insurance vtaiu the State
passed, and In effect repeating much OF the general
law OF lS49 related to life insurance By this last act
every company, whethsr inosrpora ed by this or any
required to deposit with the Comptroller Of this State
800 public stocks Of the United States or Of this
cities this state or In bonds and MORTGAGES on i'm
cd real estate situate WI thin this State a. security for
policy holders In said company to be held in trust by him
ly oonductsd When this act wen into effect Il com.
PEELED about twelve life il companies to dsconn.
ne their business in this State which were chartered BY
other States governments, and who not In con
don TO invest 500 600 req hired BY this law
could not BY the terms Of their charters put that amount
VIII tah toft iutis
OF their own stars 10 DuI two instances Of com panes
Sy ss states ave Ne. fSsss any Nth
COO, Mass, and the anu nal Benefit" Of Newark n j.,
both Of which made investments ia this State relur
ed TO the amount Of 500 600 each, which held
by the Comptroller security for their policy hoders
do not consider IL out Of place here state that bot
these mpanies well and safely conducted and
Of this State
At the hast session of the Legi.turs the Aw of 1851
repealed The material difference between the acts
of April 1851 and june 1853 Is that companies charter
cd BY other States may deposit with the chief financial
70 be deposited with the Comptroller Of this State by I'm
panes CANNED under this last act and stocks
bonds Of incorporated cities of State are no ger
recognized as investment under the act unless La
shall be enacted making them . banking basis
consider this change between the laws OF Isl and 49,
emnenty just to companies organized In her States
and in no manner unjust to QUE own 1t is prssum-
able that officers Of other States are as competent
the Comptroller OF this State and SO far as
In other States have conformec to the
departing with their officers
required, graiinsd in being able state that IS
much and scrutiny has been observed by re-
gard TO securities .. at this department
Table marked shows the names Of the life insurance
companies which have complied with the laws of the
State and authorised to issue policies by agents or
otherwise.
zSes upon The Indian reservations in Erie and Caaras9us
counties
There is due to the State for taxes upon ans in these
As and ~ about the sum Of si2o 900 piinc
pal and interest The payment OF these taxes resisted
BY the Ogden Land Company the ground that the
payment Of these taxes vested in the Indians
when the assessment made therefore taxable
suit has been pending for in the Supreme
Court instituted by Mr. Fellows in behalf Of the company
against the Comptroller, TO compel him to cancel the
taxes which suit s sti in charge Of the Attorney sner
a. undetermined This large Is due to the treasury
and Its receipt either from the Ogden Company the
counties Of Erie and CAtarsusus depsnds tho issue
am informed 81 the Attorney General tha. he has OBJ
tanned Judgment BY def. ult for omission of the
appear but that no further proceedings have
refer the legislature to the Comptrosrs report for
the 1874 1S49 and to the report OF last Tor u
information upon the subject.
STATE Prisns
Statements L. NJ n, exhibit the coadition OF the hnan
ss prisons for the fiscal year ending Sep
tsmber sofa 1853 and the following statement exhibits
chs xpsnt iture of esch prison for the
Twucns the year 1852 o. $685. a. These instu
lions sustain themselves under existing laws and
me great pleasure to say personal examination OF
two OF these prisons during the last summer that am
sst,hsd they are managed with eoono any and fidelity 10
cisl difficulties Of the prisons, whatever thsy be- do
from improvdent or improper management Of
Legislation
yh e, y, ss'f s prer; e the State
ra Ns% s horn 81; gor r ne from 20 sahsr
isi to pss.smSas s 90 is!a ss5a 4.
1854 70 september 90 is5s ........... I0sls 70
Increase Of 1855 over 1852 ....,....... $S.41i 81
ISL to ssptsmbe; %. ls52. ssS,29l rs
isSz, to september 80 ISIS eL75s CT
increase Of 1855 over 1884, ............ 5 lsl %
x1psndi.ures Of Clinton prison from October l.
xIpsndtures Of Clinton prison from os.ober /,
issa to September 81 1855. ............. 4o4s3 Il
increase Of 1883 over 1852 ............. p,l3s ~
Improvement ofne Big CAa,y AVID otter Riusrs.
annex reports from missionerB appointed under
several Of the legislature for the improvement OF
the Big Cbsxy Ssranac Ausabe and Black rivers,
cd 1t is believed that the State bounty for in.
tsrnal has not been justly employed
than In aid Of the efforts TO improve the navigation Of the
streams which have their rise In the almost mpsnstraos
The vast tracts Of timber Land In that portion OF the
STATE have, heretofore been comparatively valusless to
great portion lAnd in consequence OF the great
6csiy In using the streams for poration Of the
made for shsse objects have contributed TO the removal
OF many Of the distractions ard large Quantities OF
valuable timber from those far northern regions And their
way 10 profitable MARKET
Anoiion DlRts.
Statement shows the Of the several auetionesrs
In the State Who made 10 the Com ptroller
during the fscsl year. sncng September 90 1883 and the
amount Of duty paid b, each. Tue aggregate sum -
ceived into the eAsury this source Of revenue TO
the General Fund De- - o. 10 1852, the amount
received slis lbs a. sSsag ade'resss for last year
Of SO 7b4 g.
In closing this report eopgrstulss the Legislature
and the people upon the improved condition Of the
AnAnoss e the State far the fur Dis under the
troll OF this concerned There Ia In the
treasury applicable TO the payment OF the public cred
and the sants Of the government S2oo 900.
At the close Of the fscs year 1852 the General Fund
vas indebted to the spechc funds TO amount far be
yond it's ability TO pay and without any adequate
from taxes, other sources OF revenue TO dis
charge It's liabilities for the ensuing year.
The demands pom the treasury we're met By aid fur
hed the Comptroller By the CONNER Al Bank Of the
city Of Albany.
The stats was eep-niant upon the ability and wiling