New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-03-06
ALBA n Y.

EVENING SESSION OF THE LEGISLATURE
NEW INSURANCE BlII-sUITs AGAINST LIFE COM
PANIFs 70 BE PROSECUTED BY THE ATTORNEY
GENERAL-INCREASING THE POWERS OF THE
SUPERINTENDENT OF PRIsoNs-REDUCnoN OF
BANK CAPITAL
[BY TELEGRAPH TO THE TRIBUNEl
ALBANY. March 5.-The State Legislature
reassembcd tonight. Most of the Senator'S were pres
emf. but over half 81 the Assembly .ncn were absent
many them. it is saiG III Washington An Interesting
BILL materially amending the Insurance law of 1888 was
introduced by Senator sia 1t makes IL tde daty 81
the supcrn cndent of tn Insurance Department when
ever it snail appear 10 hin that an insurance company
has violated its charter or infrinsed upon the rENlS
OF Stockholders policy-loders. to report the Nio
laton OF law to the AttJrneyienera. I'r
Attorney. Gtncral is then directed, II the
cause Of complaint ia common to all oil
the stockholders and p0llcy-holdcr-, to begin pro
cecdingS against the company Al such irOrec hES are
to lac brought exclusively Ivy the Atorucy-icnefa ior
the benefit Of the stocihold rs and tAe vans o. ahrh
suit are disposed OF b. the court or the dement, %
The -, rsoas named. In al such 10" pend NJ the
.tcckb,lls and policy Loldprs are to &c sUb,tr' ~
tac plaintiffs and The charge Of suit is to GevolNo
upon The Acknowledgement hy Il" order entered npOh
notice Of hcr party 10 the other, and ujon The pa nr"'
of costs the opposite party ~ - the time 81 cHirY 81
such order Tr act is o. take on 70 immcd!t'' lhl"
act if pressed, will prevent the brin9ing Of numerous
suits IN d # rent courts a,lns embarrassed company.
and a contest between the Insurance Department ana
some stockholders ppliryhuldcIs over rs l'sc.s III"
late conflict over the Continental Life Insurance Com
rany will doubtless b. rem. Ibricd
In the Assembly Sir. POST aroIuccd bill intended 10
increase the SuAGinioni az OF Prisons power over BIZ
subordinatcs, mat H. compel burger number
The conyics 10 WORK. 1t empowers HIM 20 appoint tie
agents. walcn. PHI ~cians and chaYllns 10 assign al
the officers thrir duties He may lcay" vacant II Hr
chooses any subordinate Office now established The
agents ami wari:ns Of each PRISON are given the up
ponmenS subject 10 the approval Of the Suleiinlend-
ent OF the keepers. guards mIiTOnS, ana 'achei' Con
troc: FOR the Purchase materials and supplies aud for
the sale Of property manufactured may De entered
approval Of IN superintendent. The sdIcrihtend-
r,Ii is empowered t. make all iHl's and fc:i'-
latlons foI tue government oi u" iiicyl". ,Nf.
Cc,yliu presented solution requesting On" Commute"
on ,ys Hran- 80 report, ny h % Otherwise Wa1
measures ~ t,.r iIjlmCHt, ought to b" adopted 10 pre-
vent lie further reductions Of bank capital ~ ms Sie
Mr. J. g. Graham ufryil, ed 'il 20 aUIoriIr ti" FISH
hill and New 6u ~ Railroad COMPANY = huIi Bride
lcrcss TIE Hu'sOn River. \ communication was r.
crV, Il from lac Governor Transmitting letter irJh tr
Commi~sIunrIs of I'm grafton against The mi aHihuH
Dy the lin. Isl Of Tie Claurtl hnO"u - Lt!c Hel
cat, ieiWc..u Wards ana I..hA.lfS Islands, On ih'
ground that wti,i 'hlc>S AMI DEAN o. pt-
ticnts on tor' i,1 ia. On mot on O Mr. AlNOrd, the
coulnuuica.. aili letter " r. ordered printed.