New-York tribune., 1875-03-04
EW-JERSEY LEGISLATURE.
WORK OF THE TWO HOUSES.

| PASSED IN THE SENATE ACKNOWLEDGEMENTS
| TONS TO THE POWERS OF CORPORATIONS TAX
| EXEMPTIONS OF THE ERIE RAmwAY-THE NEW
| YORK TUNNEL-FREE ROADS BETWEEN JERSEY
CITY AND NEWARK.
| lrnoM THE REGULAR CORRESPONDENT OF THE rRrBUSE.l
| TRENTON, N. j., March 3.-In the Senate
Mr. Stone introduced supplement to act relative 10
the sale of land public statute and also supple
ment 10 the Court OF Chancery act The hrst provides
that in all sales ordered whenever any person shall
be entitled n dover or by courtesy In tho
whole any part share Of the promises IN question:
shall before or at the OF making the order for such
sae by writing under his hand and SEAL signify
assent and determination 10 renqush his or her estate
In the the be sold free or the In
cumbrance of such estate It snail be lawfui TOT tho
Court and decree such estate to be sold Exec
utors administrators, guardians or commissoners VINO
shall sell ands or estates by assent required TO
report tho to the Orphans Court and to ne such as
cent and the Court shall approve disaow the same.
and order the confirmation OF such sale accordingly.
| Tho supplement relating to the Court OF Chancery
provides that In all pending in the Court OF
Chancery where the form Of notice added TO SUD
ponas ad respondendun heretofore Issued or that sha
be issued pior the 4h OF July next In accordance
with provisions OF the seventh section OF the act ap
proved March g. 1851 the same shall be taken ana ne'd
as sufficient and legal though such notice had been
according to the provisions OF the eghta secoa VI 'ho
| act to which this is supplement
Mr. sewel moved TO take up the concurrent resoin-
tons from the House asking for new Tiai Ior oen'
| Ftz John Porter, which was agreed TO- nc tneh
offered substitute for the preamble stking OUT 'no
declaration that Foster convicted on clearly made
ouae evidence aud the further declaration thas Iho
honor and dignity OF our Commonwealth demahu '"a'
her fair fame should unarnshed and that no one
of her citizens shall be improperly sugmatzed OF uu
iustly condemned" The words q brave soidIer
| auu "honOred citizen OF NewJersey were also
stricken out MI sewel said he knew Cen Porter
| Al hutaf tha
no was not citizen OF New-Jersey. He did not think
IL was for the Legislature OF NewJersey to declare that
the evidence upon which thu conviction OF Mr rortcr
was found was "inadequate." The amendments "ero
agreed TO- and the concurrent resolutions as amended
were concurred in unanimously
Mr. Sewell in ntrodu supplement- to the act 10 cOm-
plete geological survey OF the state IL
tho number OF the members OF the geological survey 10
two from each district and also makes the "o'erhor
member Tue Senate adjourned to next Moniay oven
in..
Ia the Assembly Mr.. Z. r. Mcdonald introduced sup
plement to the concerning corporations IL enaes
that 1t shall not be lawful for any corporation whose
business In whole part s that OF loan or trust
company accept execute trust except sven as
may he created by agreement with person OF inh
age ana not acting in representative capsciy hor
shall il hereafter be lawful for corporation to act as
administrator any estate executor OF any WILL or as
guardian of the or estate OF any lniau'; nof
shall u be lawful for any corporation, whether loan or
company or otherwise to receive IRON hose auy
intrusting its goods. cnatteS
In action. securities OF any kind or other poptry
soever, upon which monoy may De loaned or aoVahce
greater com pens therefor than at the rate OF
per cent per annum for Or upon any money ags 70
the Ow ner OF any sdch property by the saln eO.po.
ron. nor snail il be lawful for corporation watso-
ever upon any contract To take Directly or lhdree ior
1911 Na ANY be ya % 81 for the obeaance OF 500 for
and after that rate for greater or less SUM- OF
this 81 lie carryns on the business Of loan trust
company savings bank or SAVINGS lnsuutop 1922 gip
| afah HnnEg
n me arst doy OF January April July aud October of
each wear, make starement. under the oatns oi rs
president and three OF rs arectoc;' & Go,as m @
suascribpd aud paid 10 in cash. the amount OF noes and
bills discounted aud bought the property OF sucn cor
rcncy in legal tender National bank notes actually
nand in the possession OF and thS propery T saS
and fair valuation OF the same anu Oh an otnel
Hy them To- be good doubtful bad and Of the unpaid
dividends and Of all other debts due from sucn corpora
snr1ns above or loss on the capital stock auy, of such
corporations and that every such corporation shal.
published in newspaper printed IN tue eSInH siiS
i've DAYS after the making OF said statement; anu II
there newspaper published in tho same county.
| then such publication shall be made IN me weplper
published to said corporation, duplicate of
which statement shall also wtln ten u3ys aItes tEe
making thereof be forwarded to the Secretary OF state
to by him filed In his ofce and that 50 much OF any
heretofore passed. whether general or SPECIAL pH
lie or private, Inconsistent with the PROVISIONS Oh hh
| act be and tue same is hereby repealed.
TIE Committee appointed 10 examine INTO anu rcp"rt
as 60 relations between Jersey City and the Eric
Railway Company in matters OF taxation informed the
Assembly that 1t had ascertaned that the Enc RAILWAY
Company while 1t enjoys as lull ana complete pFOec-
ton of its property from tho police ana hre depart
mens OF Jersey City any owners of property IN sad
city pay ouly One-thrd OF its just proportion or eX
peises where It's fair quota Of taxes should De
more than sl2oOO0 annun, 1t pays barely siJOO9
The exemption from this twOtnrds OF lts proper tax IS
claimed un0er and by virtue OF an act or the Legs
| lature approved March IT, 1870 Upon examination
| into the circumstances attending tie passage
| and approval OF this ac;, the Committee Is
| constrained TO believe tnat tho interests OF
Jersey City lost sight OF, and the biz was iDcon-
sderately permitted to become law Jne committee
satisfied substantial justice TO the taxpayers or
Jersey ouly be done by equalZIng the Il XeS or
municipal and other purposes on all property Wlihl the
tending eifeotg OF such result he repeal of
the 1870. Tie Committee, upon TINS cOnVcilOr,
herewith reports bill for the repeal OF said act and
| recommends its passage without delay. Mr. Sleerdn
then offered bill to this effect, tbaC an act rcilng 10
taxes to be paid by the Eric Ruway Company Tor GER
property Owned leased. used occupied Dy IL IN
state, approved Marc II, $780, be ana the same
| Mr. T. +. Mcdonald introduced a bill 10 repeal tho
Jury Hudson County, passed in 1913. he aio
introduced supplement- to the act TO prevent triuds
10y incorporated companies. IL provides that no lease
railroad shall be made by any trustee or receiver
appointed by Court of Chancery or tle ClaLccOr,
except upon rental and adequate security Tor the pay
menl of same, boIh to bo hrSt approved ny s9lu
court majority stockholders or s1id railroad In
interest such public notice TO tho parties Ia inter
| est SAID court shall dIrecf.
The Tunnel Companys bill. to construct tunnel under
tho Hudson RIVER 10 New-i0rk, the Work on when
| was commenced some time as0, passed the Assembly
| almost unanimously. Mr. swayze lntfonuoed pm
aDolIshng the office OF superintendent or Pupllc ln-
suction In HuEterdon County ami imposing It's duties
County CoeCt,r. Mr.. Doyle introduced bll ~
| provide for free roads between Newark ana jersey
CITY. II enacs that Benjamin Atna Alfred lister Her
| mann Schak Joseph Hensler John McGrogOr, Isaac W.
Scuddrr, Henry Dckerson Henry j. Hopper and Chris-