New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-02-19
ALBANY.

SATURDAY SESSiON VI lIiE ASSbMbbis
OF LIFE INSURANCE COMPANIES
THE HAMPSTEAD RESERVOIR AND THE LABOR
oUEsTIoN-FALsE STATEMENTS BY FIRE INsU-
RANCE NEUTRALITY-SUSPICIOUS. CENTRAL TANFS.
frR M THE REGULAR CORRESPONDENT OF THE TRiBuNE'l
Albany, Feb 1.-THE Assembly, In order
that il might enjoy three days of freedom from the
making and marrng OF laws next week, held session
to-day contrary its habit. Half of It's members aer
herocally voting to remain however, TOOK ther carpet
bags from under their chairs and departed by the nrSt
trains for their homes Much work was accomplished,
nevertheless by those who remained, score Oh uhh-
portant bills being pushed forward toward launching
upon the people general amnesty granted to the
ahsenees all such tng formally given leave Of absence.
Mr. Purdy's resolution for the appointment OF COM
nitee investigate the condition OF insurance eoh-
nnnies came up consideration immediately aiter the
reading OF the Journal being special order for the day
Wills resolution declares that the recent iaEreS OIL INC
insurance companies, and the disclosures attending
thereon have created much anxiety and alarm Ill the
public mind respecting the sovency business stanuus'
md practices life insurance companies doing business
n this State" 1t is tlen resolved that "a speciai COM
aittee Of FIVE appointed. with power. TO sehu or
ersons and papers, ard 10 employ competent expert as
stauce TO examine into the practices and condition Oh
he life insurance companies authorized TO do business III
his state and report 10 this house as soon as Pr"o
-yhat remedial legislation, If any, Is necessary! i"i %
protection OF the life Insurance interests oil Tue peop'
If
,e had first embodied in it clause declaring u' ''
>over Of II should not be chairman OF tho committee
On investigation. but that on the ADVICE vi "ii'"" "
had stricken 1t out. According to parliamentary us"eo'
II the resolution passed the Speaker "oulu app'
bm chairman The insiuuation had been made that as
the resolution had been proposed by Dehoci"', III"
Democrats would win all the glory II any was ooueu
Inv the investigations He would therefore formally cA
cuse the Speaker from appointing INN ehalf"i'" VI
the committee He would serve If appointed 'hcniDoi
of the committee The resolution was not party "cs
ure IN any sense vord said that as there was hot
a ouorum present the resolution would not nave any
.Fct ~ nassed He therefore moved that It's 1urther
consideration be postponed till Monday evening next
and made special order for that evening MI iu''eu
reminded the Assembly that when on tire day pelore nc
had moved an adjournment OF the discussion oil the reo
luton TN the coming week the insunation had been
made that he did delay the passage OF the resolution
IL had been his experience that there never Waa quorum
of the members present al session on salulu'H' He
knew when he proposed adjournment OF the discus
sion that the resolution could not be passed today MI
Alvords motion was then passed Mr. Puidy 5 iesoiu-
ton was at first regarded with universal dsfaVor by the
nomlcrs but within few days there has been an III
crease in the humber of those who favor It, and there Is
a possibility of Its passage. Mr. Graham chairman
of the Insurance Committee is opposed TO lis adopon'
thinking the committee competent to make such an III
yestjcaton If it becomes obvious that it is needed
The bill presented by Mr.. Bradley of Brooklyn ior the
competion of the Hampstead Reservoir, came up lof
consideration and excited debate among the members
from New-YOrk and Brooklyn about the proper pocy Oh
carrying on such mprOvements-whether by contract OF
by day labor. Mr. Ecclesne who represents an uptown
district large proportion of Whose Inhabitants arc
common laborers vchcmently argued in favor OF inc
day labor system ii was absurd TO think that any man
could support himself and family 80 cents day-thc
urce paid by the contractors in NcwIOTk Inc laDo-
ers asked higher wages not charity but as ther
rghtfu due. Mr. Mitchell said that IT was lnhulnal 10
pay a man only 90 cents. In cold climate Ike TINS lhey
must have to sustain the strength OF themselves
and their families Taking into account the high price
of lodgings in NewYOrk the aborer would have very
little money LETT with which TO buy meat. TIC was uh-
willing enrich the contractor at the expense oil INC
laborer If there was to margin Of profit in repair
ing the streets and in other public Improvements IL
should he put in the purse OF the labOrng man and not
OF the contractor He was usually in favor % the contract
system when contractors ground down aporers as
they did in New-YOrk he unwilling TO give MS vote
10 continue such system Mr. Marvin advocated the
contract plan Mr. AlvOrd denied that ii was The duty
of tie government take OF the abOrcr Least oil all
should government do after being threatened with
DISRUPTION If it did not. such compliance would quickly
change the form o. government. The doctrine tlat
a government must provide work for unemployed
laborers was not republican. BY an agreement among
the BROOKLYN members the bill amended So as TO
give the Mayor and of Aldermen of that city the
power TO decide whether the work should he doie S
contract or 10y days labor. 80
moneys the Sinking Fund 10 the payment OF III" cen
eral Fund debt ordered 10 a thlrd rtaChS lts
massage Will greatly reduce the States debt y l 10
nreyct the making and publication OF false or deceptive
Statements concerning fire insurance companies was pre-
scented by Mr. Cuwdin. 1t makes IL uulaWIl 1of any
company TO false represent either by advertisements or
in any other way funds or assets are III itS pos
session available needing losses ny fre. Any cls-
law subject the offender 10 nue 1Of
the first oense $500, and in of second Onelise
the Superintendent of insurance Is directed proceed
against the company for ITS dissolution The bill was
prepared the suggestion Of the OiCeIS OF seNci OF
the sOundeSt insurance companies, VINO stated it me
newspapers often contain false statements as 10 the
financial condition OF certain companies. snort uut
important bll intended TO make lie insurance policies
Tcclesne Ii provides that policy OF insurance on the
hfe individual III existence or which may DC
effected shall become forfeited by reason OF thc noidl
ment premiums long there shall be 10 the clcdt
of the assured OF unpaid dividends equal 10
The amount of premium then due on the policy MI.
Tlecke added mound Of bills already introduced by
him one providing that persons arrested Tor dsOIdeN
conduct, sault and battery, larceny rOlu the person.
burglary or robbery al receive double the term OF IN
prisOnment If concealed upon tier persons mere Is
found pistol revolver, large knife, dlrk, dagger sluettO
suugsot brass knuckcs, sand club, or Oter dangerous
weapon. - .,. -,
Mr. Marvin presented The following noteworthy resOlu
tiOu which was ablcd under the rule:
President and Treasurer OF the New-l ok
be aud iley hereDN ltluiuu
resolution TO furnish
q sworn sta a. "a
or IN behalf o SAID company during the year 1916 taxes
said statement 10 contain Gales ana a' OF
within the pefICd he statement lOI
veal ending Dec 81, 1870
Mr. P.lsbury received his commission as SupeIlntend
ent Of state today He intends to begin his new
work on Monday. He will probably first inspect sing