New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1855-03-01
NETWORK LEGISLATURE.
Especially Reported for rhe N. z. Tribunal
SENATE. :. .ALBAYY, Feb. %, 1855.

SENATE. ..ALsASr, Feb %. 1855.
PETITIONS.
By Mr. SPENCER-Of New York Corn Exchange,
for modification Of the Usury Laws. Mr. S. said
In presenting this memorial, Mr. President, am
constrained. contrary to nv usual custom in such
cases TO speak of lis objects, and fe~ words OF
fbose who ask me TO present II. The petitioners ask
that TIE Legislature viii 90 modify the Usury Laws
10 enable borrowers TO make their own terms With
the lencer-nOthDg more-aDd, SIR, large portion,
nearly all are at times borrowers though there are,
know, among them some who have already acquired
fortunes and unless industry gees unrewarded and in.
erriiy end fair deslDg unblessed, there soon will be
many such. These men, air are the active, stirring
merchants through whose hands pass hne-tenths, il
is bell, wed, OF the produce of our producing west
EN- woilG-the bone and snes OF our mercantile CON-
uupi,y quick 10 perceive and prompt 70 arrest any
obsacle 10 their prosperity which may be controlled
irpaiieut Of restraint in anything that tends to
sbsokle trade, they come here simply asking US to al
low hem liberty to consult their own and the inter-
esis Of their correspondents in their financial nego-
tiaons they BOW 60 In their mercantile operations,
and thinking themselves competent to judge Of their
own interests. This memorial was adopted at full
meeting ourirg their business hours, with but one
dissenting voice, and is TO be regarded as the dslib-
crate expression Of that large class Of merchants who
are engaged in and who represent the produce,
commission and shipping business. They do not
ak TO have the Csmy Laws repealed, but only
pray that on short mercantile paper the legal
rate OF interest may be such as shall be agreed
Having known the persons represented In this memo
rial long and we'll having met them, and the fathers
OF mot Of Them any year. in me great mart OF ous,
mess have OILY said OF them what know; and
usy saw before taking seat, that while they are
o. the blessing Of prosperity, their hands are
freely extended TO the less fortunate; inst they are
tmoDg the most liberal of our liberal cit zens, and
certainly deserving OF favorable hsaring in this
matter.
The passage Of the bill for the Incorporation OF
Ste amboat Companies, was recommended.
BILLS PASSED.
To extend the provisions Of the Code Of Procedure
to Forfeited Reeognizenc,s.
To enable resident aliens to hold and convey real
estate
An oct 70 amend the act for the incorporation Of the
Panama Railroad Con psDy.
Mr.. CROSBY moved to lay this bill on the table.
Mr.. CROSBY then moved TO recommit He
thought the bill had not received sufficient consider
alton.
the Barnhsrdt Claim bill was taken up, which was
discussed till the hour for Executive Session.
On the doors being opened, the Barnhardt bill was
again considered.
The debate was cor tinued till p. NJ, when pro-
gress was reported and the Senate took till
o'clock.
NETWORK SAVINGS BANK.
Mr. SPENCER presented the Annual Report Of the
Bank for Savings of New. York. The funds of the
institution are invested in and consist Of
let Funded debt ofhe st Its psr S6af 80 %
SswYors 4ss 10
sue s,se., a, their par 500 .s %
4h Res 70 100 %
md BanI Of m.t:s.......,......,... 2s7 s4s %
s4s, 1856 y
The Bspt has beeB operation thirty i've
yeais during which ZINE IL has opened 10 SIS
accounts and received altogether from depos- - -
ef2 0sS 50
Tobrb acc interest I'd TO January IS55... 67s so
Tet,l..................... go $50, 763 10
"a on, Observation-Disclosures 70 So 5s rs
LEAVING a ace entitled 70 this balance. $685. -
Which Ayersges about . !64 TO each seesunt