The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-02-04
SAVINGS BANKS In JERSEY.
Important Action of the
Legislatures.
Declared irresponsible by Executive Proc
lamation-Their Charters Null and Void

Jersey Legislature Is that will compel the cor
poratons OF tue State to attend more carefully to
'Aer interests. 1t prohibits the corporations
named IN the Governors recent proclamation from
"ihehg suits IN the courts Of the State until they
S'"ii nave renewed their charters That this Is q
very serious matter Tor many of these corpor
.ion' VIII DC evident from the perusal OF the fol-
lowing ponts:-An act was passed last session pro-
fi"ns ior Tue declaring and making known certain
laws and joint resolutions mat bad necono IN
operative and yOld. Under that act the Covernor
mas Just issued proclamation setting orto tho in
aDhity OF all the institutions mentioned below to
trahsact business legally By virtue of a law
passed in 1858 every bill passed Of a nr,vata
character is subject to an assessment thar must
be paid to the Secretary Of State. One section of
that act provided that no private bin should he
enrolled in the ONCE OF the Secretary
OF State until such assessment had been paid. and
consequently, though the bill had passed both
Houses OF the Legislature and been signed by the
Governor, IL would become void. Benevolent in.
situations and agricultural societies were only
exempted BY supplement to the act passed in
1853, the time for such payment was limited to the
Many Of the institutions now banned by the
Executive proclamation, especially savings banks,
WI! nnd their claim to the character OF "oene vo-
of the act Of 1858 it is expressly provided
that on every act Incorporating bank an assess
capital authorized shall be levied The language
OF the statute Is ION every act Incorporating or
porate powers Of any bank the sum OF 81 per
$1,000 on the largest amount OF capital authorized
and on every supplement- thereto except s9Sa
sum OF s25." Through csrelessness or con-
Tempt large number q savings banks nave
OF the law AS before stated, they ignored the AS
sessment act in the hope OF sustaining their claim
OF being benevolent Institutions. sound judicial
opinion controverts this claim. and the banks are,
by their neglect made the irresponsible trustees OF
these institutions scattered through the State
which are more or less affected by the proclama-
tion The inviting opportunity is offered the cor
sibilities.
The following is q complete list of the banks
Affected by the law and included in the Governors
proclamation
ton; approved March 8 1851 savings '"'"'u'
s'5 sS as Savings Bank Of
" asa ss 'sSaPS
s g Ssy March g
TIE
supplement to act entitled An act to incoIporats
Re s syn ss,i g i approved February
act !a he savings bank of South Am
sappsmsn,;t ,0An act to The Morrstown
An act to incorporate the bergen Savings institufion
An act r. ineSrpoTste the Dime Savings Institutions
s 6 The 81 K
s az ef Sss % at to
to Institution for
New SAVINGS
proved February L. 1868
aa s assS the Hudson City Savings
SSs 5 the Savings Bank
- 1asoi the Dime ssyinss Bank of the
s sappis%sss snslsisa AZ to incorporate
Ast @ .se5SSssS
S
ns s' s5pfovs q asr
ciy d s s Bank Of the
81 n sns
e, ineoIporats me Dime sayings Bank Of the
act the EnsiswOOd Savings Bank;
act to porate the Raritan Savings Bank; ap-
c
act 70 inc; 5 the Paterson Savings institution
act hf Berth Amooy Savings n
the a n as % to p4
., 1851 approved February 0, $50
ps to the ACT sa @ act
Hpri isss speroyea, Fssr$sry il ~ s.n,
TIE Perth H@ses savings Institution, approved Aprs
:: IS
New Brunswisk sayings In''i!1%tOn," approved March
Banx sc sppossd
the Orange savings Bank" passed March q, 1854 APP
An 70 incorporats the Bayonne City Savings Bank;
the city Of paterson; ssprcysd March il ls% s.n,.
Bank ' approved %arsh i ao bergen county
the Ocean County Savings Bank
the Es4ss Sayings Bank
An act 70 ncorPorats the Hacketstown savings Bank;
An act to incorporate the Bergen City Savings Bank;
Of the town OF orange In the county Of Essex approved
An act to incorporate the Dime Savings Bank of the
City of New Brunswick n. j.; approved February Z.
An act to neoporate the Miners, Savings Bank ofDO-
ve pie entGSffh The act to
the MoIrisewn Institution Tor savings; approved Feb
the Central Savings Bank OF
s March
Institution; approved March IL, 1871
An act TO incorp the Peoples Savings Institution
Of The s q cs TO SG n9 OF Bridge
An act to incorporate the Dover savings Institutions
approved March 81 1871.
An to incorporate the Bloomfield Savings Insitu'
ton approved March Il, 1871.
to incorporate the sussex County Savings Inst
tuition; approved March Il, 1871 . 49, -
An act to incorporate the somerville Dime savings
Bank; approved March 27 1871. 60, n. =.
An act to incorporate the Germania savings Bank or
Jersey City approved March 20. ISL
Brunswick, N. J. approved April ISL ~, A.,
An act to incorporate the Dime savings bank OF the
village OF Woodbridge; approved April o 1911 qua,
An act entitled act to incorporate the CitZens'
Savings Bank of Passac;n approved April lVi
supplement to the act emitted An act TO incorporate
the Mechanics and Laborers savings bank OF Jersey
t,ty approved March g. 1869; approved April 1871
An act TO incorporate the Lambervilie Savings Bank;
approved April .. lIl
cornorafc The Dime savings Bank OF the city of New
BrlinswicK, Jn approved Feoruary1. 1S1; approved
| February =. 1872 .
Supplement- TO the act entitled AN act to incorporate
the Hall Dime Savings Bank of the town Of Orange in
the OF Essex" approved March H. 1870; approved
! February IA, 1872
A snpnement entitled IAN act TO incorp orate