New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-04-30

Mr. PATTERSON introduced a bill providing that va
filled by majority of the members of the respec
tive boards. The House then adjourned.
THE UsURY BILL
The following is the Usury bin as passed to third
reading
bearance OF any money goods things In action shall
continue to be 81 for 500 for one year and at that rate for
SIC No person or corporation shall directly ind
rectIy take or receive I'm money goods, things in
value for the loan forbearanee OF any money, goods
or things action than is above described. subject only
Ia the forfeiures and penalties hereinafter mentioned
SEC g. All bonds, bills notes. assurances convey
ances and all other contracts or securities whatever
eYcep bottomry and respondenta bonds and contracts
and All deposits Of goods and other things whatsoever
whereas whereby there shall be reserved or taken
taken, any greater sum OF greater value for
the loan or forbearance Of any money, goods,
or other things action than above prescribed shall
be void SO far only regards the lawful interest and
the excess and above the lawful interest that was
or paid agreed secured 70 be paid at the time
OF making receiving delivering OF the bonds bills
notes. of the securities herein before mentioned.
money, goods other things shall before any legal
proceeding may be instituted 70 collect the amount Of
lender OF said money goods things or 70 the holder
OF any bond, bill, note assurance conveyance or any
other cont act Of security given or assigned or delivered
for said loan by the the amount actually Dor
rowed or loaned with legal interest thereon, and the
thereof shall be refused. The court IN which
sny suit is pending the recovery Of the amount Dor
rowed should be proved in said suit that such loan
Ua
ment in said suit In favor OF the plaintiff or plaintiffs
only for the amount actually lent and borrowed, and
shall render judgment in favor OF the DEFENDANT OF De
PENDANTS against the plaintiff or plaintiffs Tor mis- OF their
taxable costs. -
SIC 6 In case the lender lenders OF any money,
goods or things shall before any proceedings Dc nst
tinted 10 collect amount Of money goods, or things
narrowed or the holder OF any bond BILL note assur-
ance other contract OF security ven or
assigned delivered for said loan by the borrower
offer 70 receive and accept Of and from the borrower the
amount actually borrowed loaned with legal inter.
est thereon, and the payment thereof shall
be-, refused by said borrower for the space OF
ten DAYS, the court in which any suit may Dc
peDdng for the recovery Of the amount borrowed II ~
sha be In said suit that such loan was made IN
Violation of this statute sha render judgment IN favor
OF the plaintiff plaiutns against the defendant or de-
PENDANTS only for the amount actually lent and Dor
rowed with legal interest said amount, with his or
their taxable costs only: ~, -,
the Revised Statutes 10 Inconsistent with the pro
visions OF this act is hereby repealed. .
sEC 4 The act entitled An act TO prevent usury,"
passed May Is, 1887. Is hereby repealed.
SEC This act sha In wise Affect the provisions OF
the act entitled An act 10 prohibit corporations from
the defense OF usury In action, passed
April 9, 1880. - .,
SEC No action shall be maintained for any excess OF
interest over and above cent pei annum paid by
any person. unless the same shall Dc brought within SIX
months from expiration OF the time OF the loan upon
which the excess taken, and no person or ofoer
other than the person paying tho excess or Ills Legal
representative shall maintain such action.
SEC TO- This act shall not Affect any action or proceed
ing now pending IN this STATE.
BEG H. THIS set shall take eject on The LEI dag Of Az
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