The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1876-02-02
Cth LEGTsLATURE.


E.-Introduced--M Kirk, general
law to regulate Savings Banks, and the Or
ganizatioD of the same.
Mr.. Hopper, concerning the rate OF interest
on loans secured by mortgage, which
provides that it shall be lawful to contract to
pay reserve discount at any rate and to con-
tract for payment aud receipt Of interest upon
loans OF money secured by mortgage upon
real or personal property--providirg that the
agreement shall be in writing; the rate is to
continue at Z per cent. where the agreement
is not i'll writing.
The bill relative to notice of applications
for laws, was ordered to be engrossed.
HousE.--Bills Introduced--Mr. Toffey, to
appropriate an additional sum of $4,000 to
the State Centennial Board of Commission
ers
Mr.. Vail, in relation to the assessment of
taxes, provides that any holder Of a mortgage
on real estate or personal property IN this
State, and the owner of said property may
agree between themselves that no deduction
for taxes shall be made upon the valuation OF
such property by reason of such mortgage,
the agreement to be inserted in the mortgage.
When the agreement is made the mortgage is
to be exempt from taxation, and no deduction
for taxes shall be allowed upon the valuation
Of such property by reason of the mortgage.
To take effect Immediately.
Sir. SCUftt, from tnt JuutCiaTy Couiultttcoi
stated that the reason that committee did not
report auy bills was that it WAS impossible to
tell what bills came under the provisions of
the amended Constitution. The Joint Com
inittee are holding sessions, and they viii soon
lie able to report bills for the action OF the
House.
-r Lewis, from the Committee on Munich
pal Corporations, said that the committee was
placed in the same dilemma.
January 90.
SENATE.-Introduced Silverthorn in
troduced bill to authorize the electors oil
the cities, towns and boroughs OF this State
to raise funds to celebrate the Centennial In
this State. The hill authorizes the electors
of any municipality at the next election, to
vote sum Of money not exceeding seven
cents on each inhabitant, to be expended by
the local authorities Cor the celebration Oft the
Centennial. The bill also provides that the
Governor shall issue his proclamation, calling
on the citizens of the State to- abstain from
all necessary work. and to observe the day
as day of festival and thanksgiving to Al
mighty God.
The bin to prescribe the applications to the
Legislature for laws was read on its final pas
sage. Mr. Magic said that this was the first
bill reported by the Joint Committee APP
pointed to prepare laws. The bill was passed
lis too.
Tie Senate WAS called together nt nve
minutes before ~ o'clock, and proceeded to
the House of Assembly to sit in Joint Meet
ing.
On reassembling Mr.. Jarrard introduced TO-
Mr.. Scwell, A Supplement to Act Respecting
Railroads and Canals-c0nstr the 31st sec
ton of the act of 1874 SO as to authorize the
same amount to be charged for grea or
number 4 packages Il an i've as is allowed to
be Charged for five packages. The saia &c
ton provides that the term small packages
shall not be held to include bundles and
!, ack ,ges where more than d,e bundles or
package are delivered to oae person at one
ii ne. aud where such bundles and packages
80 delivered Al be, in the aggregate, 70 .dily
weighed either as LIGHT or bulky goods. or AS
ordinary freight 4 Supplement- to an Act
Conce, niag Corr orations, providing that il
.hall not be NECESSARY. hereafter, for ma
i,rity of the directors of corporation, here
after or heretofore organized, 10 be residents
of tbis State n supplement- to an act respect
ing railroads and canals, providing that when
ever anv railroad. turnpike or other company
has route between termini. which trayerses
by ferry or other means of navigator any
liver sound or vigable waters, such COM
49, ...t.>.. l., .r Ia, 80,