New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-02-09
NETWORK LEGISLATURE.
From Our Own Reporter.
SENATE. ALBANY, Friday, Feb. g.

UsURY.
Mr.. c. p. SMITH, Chairman of the Committee on
Commerce. this morning brought in bill amending
the Revised Statutes relative 10 interest on money
The following it's provisions:
SEC No promssory note draft OF bill Of exchange not
having eight months to run from the execution there
~ bs be void y reason Of agreement between the parties
to such note daf bill Of to receive pay or SLOW
year and at the same rate per cent tor any longer OF
SIC henever in any brought upon any rromsory
note draft or bill Of exchange not having more than eight
I OF this oct named shall appear by the pleadnss or
proofs that greater rate OF interest has been re-
Of exchange plaintiff in such action shall nevertheless re-
seye from the defendant the amount actually paid lent or al
yanced without interest or costs Of action
If before action brought upon any snch pros-oy
indorser shall tender the owner OF such promsoiy note
draft or bill Of exchange the amour, received Sa OF IN
section fret this named and which said tender shall De
refused by such then, an such case upon sy
bropSht 10 recover upon such promsoy note draft or bill OF
exchange the defense may by answer plead uch tender ana
bs been rad received or taken upon pomissoy note
dram bill Of exchange than per cent then IN s9eh case
fndant in such action and which motion, may be set Oh
SEC T. The provisions Of shall not extend to- or in
ANY authorize Bank Incorporated company 70 'eAe
or receive directly indirectly over seven pet een per
snnum any loans discounts made by any such
SIC So much of title Sd chap 4th part 2i of the Revised
Statutes and 40 much Of the laws Of 1897 chap 40 as are
Inconsistent with the provisions OF this act are he'eOy IT,
SEC g. This Act shall take effect immediately.
Mr.. SPENCER presented the First Report from the
officers Of this Institution signed by Peter Cooper
md the other Trustees. They report that so far their
action has been of preliminary character, ana as
they are without the receipt of funds they have
financial statement TO submit They have however,
ALREADY instituted proceedings with the view of OBJ
tanning statistical facts respecting the Prevaehce anu
fatality of consumption and diseases OF the chest and
air passages in Newly Ork and throughout the STATE
Replies TO their interogatories have as yet been re
ceived only from public institutions OF the OIy OF
"a. ,,itx tha
shows that the number of patients constantly
nnder treatment in 1888 for consumption and other
diseases Of the chest at the Hospitals OF Bellevue,
Wards and Randali's Islands, amounted to 2JJ' ana
during the whole year go were treated al the HOS
pital of Flushing Long Island. During the same
period 900 failed to find admittanee to the ew-1ork
Hospital The reports from all the DispenSaree IN the
Cty Of New ok for the period showed that IN
GLIDING those prescribed for at the institutions and
attended at their dwellings for consumption, &c,
amounted to about Ii 300 They close with petition
asking for an appropriation of $50 900 To aid in the
establishment OF a hospital conditioned that al equal
sum be raised by private subscription.
TOWN Mutual INSURANCE COMPANIES.
Mr. RICHARDSON brought IN bill authorizing
the formation of town mutual insurance companies II
Intended strictly for country insurance-no sks OF
over a. OOe being allowed. Ii is urged by the trends
OF the measure that the average OF country tOWhs con
tanning from 500 TO 600 dwellings, ana aoV''. 80 30
hAbitants il is fair estimate thai IN such towns ~
persons would want insurance OF $500 each' II 'H9
insurance is cheap and certain, as II wan DC eohnJv
10 tie payment Of rural losses Only TINS eS.'..0 -
be raised fifty per cent. But at the FIRST estimate Il
win give otll of eco 900. Say premium notes are
taken for Is per cent and cash payment on tneil %
3 per cent. would give a capital of $4,000,
with $4,000 in casR-with which the losses for
three yean are to be met 1t would not cost over
nom ESQ to 500 year to manage any town co"Pa-
ny From careful estimates the losses by nfe III ID'
eight rural towns Of the lid Assembly District, OF
Oneida County with population Of over % OoO VIII
0 average $500 year for the last twenty years ID eac1
town. The cost OF insunng farm risks in careini anu
renfegulased County Mutual Insurance Companies
IA been found to be less than one-tenth Of one per
. S year on the amount insured. The bill simply
osS those persons in town who wish 10 insure 40
pVoii e TO associate together and pay only the
COS Of the losses IT, in the case supposed, the