The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-02-04

THE UsURY LAwS-NEw OBsERyAr ErC RrC.
The Chamber held their regular monthly e.tng yes-
terday afternoop-Peetah Perit in the chair
Mr.. JOHN II. BRowR moved suspension Of the rules
TO enable him TO introduce amendment 70 the by.avs
Of the Chamber. The motion prevailed He proposed 70
strike out the word ballot" and insert voted forn
the vote to be rira voce unless the person nominated
objected 10, and then the vote shall be by ballot
DEPUYsTER OGpoN opposed adoption Of the amend
ment for various The ballot would be
we'll enough under some circumstances, but rot in the
Chamber.
The PRESIDENT suggested that the phraseology be
changed go as to read by uira uoce, unless ballot
should be called or."
After a lengthy and unimpoTtant discussion the subject
wss laid until the next meeting
The Chamber went into an election for new members,
when the following named gentlemen were elected
Edward G. Howe, ". II. Merrill, Cornelius s. Johnson
John W. Brown, James b. johnson, James Mclean
william P. Hall Abram J. Dovale, Elliott c. Cowdin,
b Barber, d. Golden Murray, Thomas Spur Whitman
stewart Brown was unanimously elected member o
the Committee on Arbitration.
The Committee collisions at Sea reported progress.
CALEB BARsTow, from the Committee the Usury Iaws
stated that the Chamber regarded important re-
peal the Usnry laws, as to unnecessary
restraints upon The banks, and read copy the memo
rial be the Legislature asking their repeal
He said the merchants OF New York had repre-
tves In the Senate and two in the Assembly, who
ssDguine oil prosecuting the TO They
were anxious TO hear from the Chamber.
DErUYsTER OGDEN thought that If modification all
that asked they could get what they wanted, be-
he understood from authority that the bonds and
mortgages so intimately connected with tne usury
laws that modncato on NOT 10 include them all that
couIo be expected from the Legislature.
Mr. BARsTow thought Mr. Ogden very much mistaken
in biz conclusion, but he entitled TO his oplnon Ha
believed the merchants OF New York in f,vor OF
sweeping and total repeal OF the existing usury laws He
IN the Senate when Governor Morgan there, who
asked for bill to include paper ~ months, shut
out banks entirely and this should nc re enacted after
short time.
The report adopted and memorial was ordered
to be sent to both branches Of The Legislature.
MATTHEW +. MArRAY Chairman of The Committee tho
Observatory said, that his committee app0
years ago, and were not discharged YET The question s
shall there Observatory? II originally proposed
that the building should be erected Battery
provided the money could be obtained by the Chamber
That matter was laid before the Committee and
Sciences OF the Common Council 1851. Nothing has
been heard from committee since and from that
time he unable TO give any further consi-
deraton TO the subject in consequence Of injury
to one of his hanos The crisis came: in consequences
Of that and also from the fact that the work OF enargng
the Battery suspended and the for tho
tory Lot being filed up, his committee did their
petition 10 the Common Council. lie believed, however,
that the Common Council and others favor Of
Locating the observatory in the Central Park to be placed
under the control of the city authorities. This mode Of
disposing OF its government the committee did not ap
prove of they deemed inexpedient. The institution
was especially designed for the benent of underwriters
and merchants, should be under their CONTROL II 5
deemed nexpe peden to locate the observatory the Gen.
trail Park this the opinion Of those who
the subject He therefore offered the following resolu-
ton
Resolved That committee of nine be appointed % institute
pedep 10 nominate rusIees TO be COZ amed oy the Cnsm
ber of general law
think desirable to booss for subscriptions exceed
TO erect observatory that they
tain from the Common &c uncl lease suitable
Battery al a nominal rent
DAVID OGDEN sad that the Common Council had no
right to make The proposed grant The Battery
git from the State the city be the benefit
Of The citizens forever He property holder State
street, would oppose the erection Of thing that would
obstTuct the river view.
Mr. MArRY thought the question right title was
subject Tor the Common Council TO dispose Of, and
the Chamber.
c. H. MARSHALL said the obec. desired in the erection
Of observatory is TO have place onomsers
There way Of ascertaning the longitude ships
except by these INSTRUMENTS plan similar 10 the
observatory in Liverpool He favor Of locating it
in favor of the proposed Central Park
but did not think that object could be reached New
York. as the great commercial OF the United States
should bave an institution unsurpassed by any the
world; Tor by 1t navigation could be improved. That
beautiful study Of astronomy, which was taught
III early life, has been almost abaDd0ned and he did
Know captain OF merchant vessel that could deter
the Longitude OF ship by the stars-hat
IL his Day Indeed, Commodore Perry had told that
no, single lunar observation had been taken his way
10 Japan He considered that nautical science had deero
rated very much within the last twenty I'VE years. This
interesting science should be earnestly cultivated,
and made as perfect as possible
The PRESIDENT stated that SIT 900 had been raised
towards the desired object.
The report accepted the resolution adopted and
the following named gentlemen appointed on the commit
French, IL. Burwth, Royal Phelps, T. Dehon c. IT, Mar
shall and A. Norrie.
PROSPER NJ wErxoRE brought up the subject of the
conoon OF the resources of the Chamber and introduced
resolution authorizing the Executive Committee, If they
deemed expedient, to employ agent to solci, mer-
chants TO become members Of the Chamber. After
lengthy discussion the resolution adopted.
The Board then adjourned.