The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-02-17

NEW YORK LEGIsLATURM.
Senate.

By Mr.. BR0oKs-Favorsby, relative to the formation OF
Cemetery Association in Niagara county.
The annual report Of the New York Bank Of Savings
was presented.
Bills INTRODUCED.
By Mr. PErTv-For the better regulation Of insurance
business.
legate nrute also to lerts park in Brooklyn
Mr. BRooKs-To incorporate the Trans Atlantic Tele
srapn company INV, ,...r,
Mr.. SPENCER introduced bin calling on savings banks
to make reports forthwith Adopted.
For the appointment Of Commissioners Of Record for
Kings county.
TO amend the act for the registration of births
r1ages and deaths in New York.
- For the more efsctual prevention Of Ares in New
To authorize bankers to act agents in certain
Relative sheris certificates sales of real estate
Approprst'ng s rebuilding the shops recently
burnt at Sing Sing prison
Assembly.
ALBANY, Feb. 49, 1885,
PETITIONS PRESENTED.
For aid for the New York Eye Inarmary and the same
for the Consumption hospital
By Mr. MAnEy from the citizens Of Oneida, to make
the Lords Prayer the only legal prayer to be used by
clergy men, on account OF Its brevity.
By Mr.. SPINoIA for the incorporation Of the Pacifc
Dock Company and for rew docks in Brooklyn.
Favoraby on the bill to change the name Of the sus
quehanDah Insurance Company.
Favoraby to appropriate money loan Tor the founda
ton OF . State Agrcultu,al al Society
Favoraby the bill relative to foreclosure OF mort
gages by advertisement.
the New York Historical society from sale by
BILLS PAssKD
Authorizing the unity Clerks to trsnscribe the records
when counties divided
To amend the relative to the sending in
reports Of academies
The Work or the Senate
THE CHANCERY FUNDs-REPOBT OF LAST YEARS
COMMITTEE.
The special committee Of last years Senate, con-
ssting Of Messrs Lanning, Yost and Robertson, who
were appointed to inquire into the situation OF the
funds under the control of the late Court of Chance
fy at the time the abolished and all things
appertainng thereto presented their report On Fri
day last
The committee believe that the result of this in
vestigaton will put at rest the idea that has pre-
vailed, that there is large amount, known as the
Chancery fund.- unavailable and uncalled for by any
0ne and lying idle and unprodactve, except for the
benefit OF the officers having charge OF the fund.-
Most OF the fund is active and productive belonging
to individuals who in receipt Of the accrung in
terest or the various principals they become
titled thereto. large proportion in most counties
has been paid out to the persons entitled to the
same since the transfer of the funds and securities
under the act OF April H. lS48 1t is the situation of
the fund since its transfer to the various county
treasures that the committee have endeavored to
ascertain. The whole amount distributed by the
Clerk Of the Court of Appeals among the various
Offices was 81 1886 O57 27. Most of the County Trea-
personal examination was made, the books and ac-
counts were clearly and accurately kept. The COM
mttee, through their examination, have come to the
conclusion however, that more efficient periodical
accounting for the funds paid into the various County
Treasures by order OF the present Supreme Court,
and more responsible supervision of the same are
desirable.
The committee have made personal examination
OF the securities stocks and monies retained Dy the
Clerk Of the Court Of Appeals The stocks retained
amount to $3S ,006, and the securities and monies
70 $1l7,O7l IL. or these sums portion has been
paid, leaving under the control Of the clerk the
LIST June 1866, $l22,95l "a. or this $40 $50 l3
set apart according to the act Of April g. l849,
library fund for the Court of Appeils. A further
sum Of s73,2l3 81 is invested in stocks and securi
tes and the balance is in cash deposit in the va
rious banks. The committee examined the securi-
ties in the clerks hands and find that the interests
accruing on the same are promptly paid. Among
these securities are some notes that draw only Ave
per cent interest. OF the deposits, some are draw
ing five and some four per cent, and some
the hands of the clerk have been uncalled for
many years, and will most probably remain so
for many years longer, the committee deem that
the investment should be ON bonds and mortga-
ges at legal interest, rather than on personal
securities at diminished rate of interest. The
committee found one bond among the securities
taken by the former clerk, for not a large amount
conditioned for the payment Of the same as the
various items Of which the whole amount was COM
posed should be called for by the parties entitled
to the same. This amount was composed of various
small items, the call for which at any time is not
very probable. The result Of such security would
be that such portion of such amount as should not
be called for would virtually belong to the oblger
only. There is no justice in such loan and
there is no good reason why all the funds should
not be loaned on like terms. The committee
are not aware Of any immediate legal super
Vision Of the man management g by the Clerk 80 Of the
troll. This should not be so. A regular peri
odcal accounting Of those matters should be
had. They suggest the propriety Of law vesting
the supervision of said funds in the Court OF Ap-
peals authorizing them by order to require said
clerk to make annual report to said Court of the
said funds and securities in which invested, and the
g maze & from ah she same aad the ne suits and
belonging to each suit. That the Court appoint
referee to examine into said clerks report and that
the Court do make such order as to the investing Of
said funds as they deem fit, and Of all funds under
the control Of said clerk.
The schedules show the following results in all the
counties Of the State:-Total amount invested in
vested in stocks $ss, $685. Amount Of cash vesting
In County Treasurer, $273 6l4 IS. Amount paid BY
Chamberlain and County Treasurer before actual
and now Il
$748,44 GO. Amount Of cash now in hands Of
County Treasurer, Sill, ,245 80.
OF these amounte, there are in the county of New
York the fonowing:-Bonds and mortgages, $685.
6s2 70; stocks. $3s,s35; cash vesting In County
Treasurer, $10l 9l3 2l paid before actual delivery
Of securities, s4s2os 26; bonds and mortgages in
COsny Treasures Sanas W. 'aSh IN n'na'
Appended to the report is schedule showing, by
counties, all titles OF suits or matters, with the
amount Of mortgage or other security, and re-
marks:-From this schedule it appears that in the
following the interest has been unclaimed for
long period
In New York county-Berrien vs.. Berren, $lS7
20; Beets vs.. Messerole, 1884 Al; Brinkerhon vs.
Thorne, 1851 O5; Buchanan vs.. McNamara, 1882 "A
Cohn Vs. Rogers, $303 80; Contant vs. Kingsland
1886 81. Matter of Contribution, Ship Insurance
Company, $34O 6S. Matter Of Catherine Cook
mortgage, s776-other securities. SLOT; James
Craney and others, vs. Margaret Caney, 81 1854 40;
A. Crommelin vs.. J. G.. Roosevelt, &C., mortgage,
500 56-other securities, $490 "a; Englehart vs..
Elsasser, 1886 10; Sarah 8. G. Fash vs.. Mary A.
Fash, $407 10. Matter Of Ann M. Fosdck, &C.,
81 ,569 l3; Frederick vs. Frederick, S760 26. Mat
ter OF Hubbel, $4,993 "a; Halsey vs.. Van Amringe,
4lQa 10: IYers va Rice x243 &C.. Innas us. Warner.