The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-01-10
NEW JERSEY LEGISLATURE.

GREATER SECURITY FOR SAVINGS BANK DE-
| poslroRs--wRIrs OF ERROR IN CAPITAL
CASES 10 ISSUE OF COURSE.
TEESroN, Jan. o. ISIS.
In the Senate to-day Mr.. Magic introduced bill
relative savings banks, which provides that on the
representation Of moro depositors, whose de-
posts amount TO $1,000 or upward, 10 the Court OF
Chancery that any savings bank Is not able TO pay
interest deposits or Is in danger OF not oeing able
TO pay all its deposits In full, without sacrifice OF
assets IL shall be the duty the Cha nceor inform
himself by personal examination, or by that OF some
competent person. by statement under oath OF the
officers managers OF such corporation and 10 make
order in his discretion, hxing period within which
1t should not lawful for managers OF such corpo-
ration to pay any depostor more than the Chan
celor shall diroct of his her deposits or 10 pay or
allow any interest upon such deposits or otherwise
regulating the conduct Of said managerstn relation TO
said corporation and with without enjoinins said
managers IRON continuing to exercise tho FRANCHISE
OF the came. From after the date OF such order such
corporation shall continue the ward OF said Court
subject to the supervision and control Of tho Chan
celIor IT. after three years, said institution provo
unable return its deposits or pay its debts, the
Chancellor shall, by order. direct the cessation
OF It's business except far snail be necessary 20
collect distribute assets equitaby among those
entitled the same appointing receiver or rcceiy-
IS.
shall DO subject otherwise than under this act be
declared insolvcnt or placed in charge OF receivers
and this shalt be construed iavorably Tor every
beneficial purpose intended and retro pecycly as 10
all proceedings IN conformity Herewith.
Mr.. Magic also introduced bill relative to water
works. providing that in cities exceeding 20, 900
population, when the authorities are compelled TO
vacant and improved lots that hereafter they
may use their discretion making such assessment
by the samoa bill prohibiting tho erection OF
bridges New Jersey aud otner States without
express PERMISSION OF tho Legislature.
samoan act amending the criminal law,
which provides that the eighty-third section, refer.
ring to wrs OF error IN cases punishable With
be amended SO that writs OF error in all Grim.
mai cases snail Dc Wills na Q, r,snv Wan anu ,Ls1o 40 o.
sued OF and be rcurnable TO the Court Of Errors
Appeals alone, and ordinarily 10 be heard at the
folio ting the rendering OF tho judgment III
tho court below.
Ia tho House Dir. Harris offered the tollowins:-
Whereas grave charges have been made against state
concerning certain Insurance. companes and official
aud whereas has been alleged that Large ,ums Of
an are @ BENG o
companies under the pretence ., er"rges Tor esnmina
whereas without expressing any opinion as 10 tho
thu State that these Charges investigated ana
found true the guilty punished and the recurrence OF these
State officials should be vindicsted
Resolved, That special committee of five be appointed
fully the charges made .. u set forth in tho
tendance of and PAPERS ana with leave 20 st dur
drecte proceco soon US possible to the discharge Of
their duty and report within thirty days hcreaitcr and
required in this matter.
| Mr.. Harris made few remarks IN advocacy Of the
resolution.
Mr. Matthews raised q point OF order that the
resolution could not DO considered at tho present
time because committees had yet boon appo nted
and a resolution adopted yesterday provided that
until the committees appointed all resolutions
pei tanning to routine business should lie on tho
| table.
The Speaker decided that tho resolution should lie
( on the table.
evening