New-York tribune., 1878-01-10
NET JERSkY LEGISLATURE.

ANOTHER RESOLUTION TO INVESTIGATE SECRETARY
KELsEY-MORE SIX PER CENT DILLs-AMENDING
THE RAILROAD LAw-HELPlNG EMBARRASSED
SAVINGS BANKS.
IFIoM The REGULAR CORRESPONDENT OF TIE TRIBUNE.l
TRENTON, Jan. S.-BOth Houses of the Leg
lature reasscmbled this morning. ana after shoct
sessions adjourned until Monday next The
little anmosities engeudered among the par;isanS
of the rival candidates fog the official positions
have weLnigh disappeared. The Lccnsing yesterday
was far from being dull one and the halfcorc bills
presented in the House matched in tie Senate this
morning The little retrenchment movement which
developed in the Senate yesterday gratefully received
by q large number Of members.
In the senate Mr. sewell introduced bill relating to
the formation OF railroads aud amending the same,
which proyds for the security OF legitimate corpora
tions by proper care Of the funds under the
authority OF the State. 1t further provides that the
distance between parallel lines Of roads shall
be three miles. Mr.. Sewe also introduced a
bill which provides for the absolute cOnsolida-
ton OF all the rights and franchises OF any
railroads in the State under certain conditions. which
are that directors aud managers Of each road shall be
parties the contract; the agreement to be submitted
TO the stockholders Of corporation separately by
vote and the agreement TO be taken the act Of consOl
idatOn Tie nights Of creditors and all liens shall con
tinue unimpaired, and power given to issue bonds
Mr.. Magic introduced supplement 10 the act concern.
1ng SAVINGS BANKS apprOVeI Apfn IL 1875 IL provides
that the representation OF three depOstOs,
whose deposits amount to 5000 upwards. 10 the
Court OhanCery that such savings bank is not able
pay interest deposits, is in danger OF not being able
70 pay its deposits in fall without sacrifice OF assets
the Chancellor SHALL bis discretion, fix period within
which il shall not be lawful for such bank to pay
dcpOstOis more tEan the Chancellor shall direct II aft
three years such bark prove unable TO return It's deposits
and pay Its debts the Chancellor shall direct the cessI
tiOn OF It's business. No savings bank shall be sub ject
otherwise fh4U under this be declared iUSOVeut
placed in charge Of receivers. and this act shall be
reosucctye as 10 all proceedings ia conformity there
with already taken The act particularly refers 20 the
Newark savings Institution. Mr. Magic also introduced
bill prohibiting the cretOn OF bridges between New
Jersey and other States without express permission OF
the Legs aturc; alsO bin amending the criminal law,
10 wri.s Of IN punishable with
death. now considered writs of grace. shall be
amended 50 hat "nts OF error III al cIEna! cases shall
be wr,s Of right and issue Of course but in OF
death wrts shall De issued out Of and be return
able 10 the Court OF Errors anu Appeals aOne ana 0fd
nay to Dc heard At the term next following the render
Ing II the judgment in the Court below.
Bills Wcr, introduced by NJ PidcOck, making per
cent the cg,i rate OF interest ~ Mr. kabe. relating to
corporations, providing method for decreasing capital
Of petty larceny by Imprisonment Tor year by Mr.
famel respee1&g & m9S"sss 9,d s Egn r9vd[s tns
the creditors inaker OF purchaser IN good faith unies'
accompanied by an aildayit stating the true amount.
the instrument; 10 be renewed annually.
In Tie House another DOmOshol was thrown at
DemocTate member from Hudson, and 1t has been hined
that Leon Albeit had hand III drawing up the resO'-
tiOn, WEIGH Is rs iOiIONS:
Whefcqs Grave cha, scs mace against State Of
fca in ncciiOn with the examination Of and action con
eening certain Insurance companies ana Omcial corruption
ana mlsmaudCtn 1t have been ChaIg N Use press ana
HheTeqs, 1t has been aegef that large sums OF money
ranging from 600 O 5000 from each company have boc
and are si bong exacjed ftou Insurance lts und' t
pceucc Of charges for CxauiLaiOn when sucH e1dcun'
are Illegal AID e&torilondtc and whereas without expressing
any opinion the tTut fasty of these charges II i
due honor OF tic State that charges should be ill.,
Nesiced d II found true the guilty punished, aad The re.
wrongs cntcd by proper legislation and
Hound false tbat the purity OF officials should be
NDhcetcd therefore,
Asota. That special committee OF Eve be appointed to
investigate fully tie charges made forth i'll the pre-
smOie, with power send fer ard compel the at-
teA-snce Of persons ano papers, and with leave TO
at curing the session OF the UOnse, and that the
eom,niitee be erected TO proceed as soon as ap-
pointed 10 the discharge o. their dry and report within thiY
Gays hereafter and that the cOmttce report
s4y legiJlatOn Tequrei IN the matter.
The resolution laid tie table until the committees
sha!i have been appointed.