The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-01-25
The STATE CAPITAL.
A Bill Fixing Seven Ftr Cent as the
Legal Rate Of Interest.
BREAKING UP POOL SELLERS.
A Combined Movement for investigating
Insurance Companies.


both houses were again pusy to'uay' Inv Se"~'~
had IT'S hands full the national and absorbing issue
respecting the count OF tho electoral vote anu Tue
House nad variety OF business TO divert its attention.
celuao of bills followed the reading OF the journal
prominent among them being one by Father Braaiey
10 cut down the salaries OF ali the officials IN the brook
lvu CITY govern uIe nj from fifteen 70 iorty per cent
one by Stephen OHarc for the better protection u lie
railroads aud elsewhere II provides iof Tue sa'e'
storage Of dynamite and all such explosive substances
IN warehouses and on freight cars. Any person
who violates the provision IN regard 10
storage shall 10 liable 10 any person
injured or The legal representatives OF any person
killed. IN damages not exceeding $1,000 The pen"'ty
for violating The provision regulating their Transports
ton shall be Imprisonment LOT from three 70 twenty
years One by Mr. Ecces,nc. who appears to take ali
insurance his WING to amend the char
tor Of the weschcstcr Fire Insurance Company SO US
10 hermit the reduction OF tho numOer vi directors to
thirteen Two bills by Luxe Cozzens 10 regulate tho
practice Of the Surrosa,c's Office IN New YorR--the
hrs, to allow tho evidence taken in contested viii
cases oten amounting to 1000 pages OF legal cap 10
be filed in the office the same as judgment rolls, IN
place being recorded ut present IN iu with the
WILL and providing also that testumentary guardians
shall testify and take letters tho same us execu
tors: tho second bill to expedite the work OF the sur
roga,cs Office by deiesang 10 the clerk certain powers
oil tho Surrogate.
COMPLETION OF The THIRD CIVIL DISTRICT COURT HOUSE,
bill from Mr. Corsa TO pro tide Tor the completion
OF the Court House the Third JUDICIAL district, by
hand the work 10 the Commissioner OF Public
Works IN place Of The three casygoing pumps who
aavc had II SO long and whose Of otco expired
December 81. 1876. The on the Grst floor
Nhem finished shall bc handed over to the Second
Police Court, the PRISON part OF the building TO
hc Commissioners OF Charities and Correction and the
bell tower to the Fire Department
REPEATING UsURY LAWS
bill from Mr. Cowdin, TOR tho repeal OF all laws
the subject OF usury, and for the enactment OF
law stipuaiing that the rate OF interest on money
shall continue to be seven per cent; that no person
or corporation shall receive more than that rate aud
iha, whenever any greater sum shall be taken the
excess over seven per cent may be recovered rom
the purity so receiving it, providing action is COM
menccd within years from the time excess IN the
transaction occurred, except those laws which allow
Interest TO be taken IN advance ana allow exchange
OH drafts and checks The following petition, signed
by some OF the most prominent merchants and bank
crs III New York, accompanied the bill;-
NEW YORK, August, 1875
To TilH HONORABLE SENATE AND TIKI ASSEMBLY or
TINE STATE OF NEW YORK.
Tue undcrs igned respectfully petition your honor
able bodies to enact law repeating ui laws on tho
subject OF usury, and to substitute therefor the io-
Dwlug provisions, constitute title 3, chapter 4,
part OF the Revised statutes OF :he State OF New
York
SECTION 1.-The rate OF interest upon the loan or for
bearancc OF any money, goods or things IN action,
shall TO be 81 upon 500 Tor one year, and
alter that rate Tor greater or less sum, or Tor
longer or shorter time.
SIC NO person or cor poration shall, directly or
Indirectly, take receive money, goods or things
in action or IN any other way, any greater sum or
greater value Tor the loan or Iorbearance Ut any
money, goods things IN action than is above
Prescribed. Whenever any greater sum or value than
is above prescribed shall re taken or received the ex
.lAuu Ind
may be recovered from the person or corporation 50
taking or receiving the same. provided that such
action commenced within two years from the tiinc
she excess said transaction occurred.
SIC. All other laws on the subject OF usury or
regulating the interest oi money except those laws
wh CHI allow interest 10 be taken 10 advance and allow
exchange on drafts and checks are hereby repealed
Parker, WILDER CO., ~ Leonard st.
BARBOUR BROTHERS, 1874 Church ST.
WILLIAM c. LANGLEY n Co, IS Worth st.
H. b. CLAFLlN CO., 140 Church ~.
RHOADEs, GROSvENOK X CO., 81 White st.
HOWARD, SANGER CO., 462 Broadway.
JOHN NJ. DAVIES CO., 1856 Broadway
FABBRI. CHAUNcEY i CO. As South ST.
n"WL ,H \ AsrINwALi; o. s s.
HESS BROS. L. CO., 20 Wall Il.
A. lSEl.IN n Co... 4S Wall ST.
A. a. Low \ BROTHERS: 81 BurIng slip.
GREEN EBAUM BROTHERS, Nassau st.
o. N. BOGAKr CO., Nassau 81.
KUHN, LOEB & CO., 81 Nassau st.
GARNER X CO., 10 Worth St.
MAITLAND, PHELPS Il Co. As Exchange place.
EUGENE KELLY CO., As Exchange place.
And 700 Others, representing bankers, manufac
and mercantile firms with capital OF not less than
$50O,O0O,o0O
AFTER THE POOL SELLERS.
bill by Mr.. Strahan, providing that any person
Keeping place for recording bets or selling pools on
any OF speed skill or strength, or on the result
Of any political domination, appointment or election.
or any contingency whatever, or who shall keep
any device or apparatus for regulating or selling OF
urA
on conviction be imprisoned not more than two years,
or tine oil s., 900. or both.
SERIES HILLS
Mr. Hammond, OF Duchess, introduced a bill that
gives insurance companies the right to take town
bonds. and confines them In their securities TO those
OF Jew York State.
Mr. Bowen. oil Clinton, bill that takes away th Q
power Tor violations OF the Excise law IN towns
from the Oversecrs OF the Poor and gives to the
Commissioners Of Excise. Christopher Fieckc oh
tanned chance TO fire IN his bill for the abolition OF
tho Department OF Parks and the transfer Vi It's duties
10 the Com IN missioner OF Public Works.
THE OLD FAMILIAR DODGE.
Last year senator Woodin introduced an amendment
10 the charter OF New York city oil an elaborate and
utopian character Few people took the pans TO
read Il, aud IL dropped Ia the waste paper
baskct the end of the session. Mr. Fsh galvanized
n INTO lite again and inI reduced II to-day Ii -
said " be scheme tor smuggling some threadbarc
republican politicians who have been long time out
Of Office and who are unaeqnain.ed with any honest
ucnt or course 1t has no chance OF reaching the age
oil maturity.
IT EASY FOR DELiNQCksTs.
MIR. J. G. DInond presented a petition, accompanied
BY BILL the subject o relieving people IN arrears
for scssmcnts IN New York city, the bill providing
that any within year alter the passage OF the
act any person u the Comptroller the amount
OF any TAX upon property rcai or personal ana u "
pl%ases him, IN thrcc separate Instruments, ard the
penalty being Ia shall not exceed seven per
cent
rINELk RESOLUTION.
Dr. Hayes came to the front to-day with an I'M
portant and most timely resolution, insructng the
committee on Ways and Means to inquire INTO and
report whether some may not DC adopted by
which tho proposed alteration In the original design or
the new Capitol may be arrested ana The construction
of building without arcnitecur unity be prevented
As the architects, Eirlz, Oimsiend aud Richardson.
The authors OF the vandai plan ~ rum the noble
building that has almost reached completion,
meet here tomorrow 10 perfect their plans and