New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-02-27
ALBAN 7.
EVENING SESSION OF THE LEGISLATURE.
riiF UNITED STATES DEPOSIT FUND-TnE ATToENEf-
GENERAL on SAVINGS BANKs-1HE DAILY tACiSf

EVENING SESSION OF THE LEGISLATURE.
TIE UNITED STATES DEPOSIT FuND-TiiL ATTORNEY
GENERAL or SAVINGS BANKs-IBE DAILY EXCiSf
BILL HE SPECIAL ORDER For TOMORROW.
my TELEGRAPH To TIE TEIRuNEl
ALBANY, Feb. 26.-Ihe Legislature reassem-
blcl tonight after iour day. recess There vas
small Attendance ~ members in both Senate and Assem-
biz and little business % general interest was zone MI
Iepburi'a bill making the several counties of the State
resnonsiIc FOR that norton Of the United states deposit
fnuJ ccpdcd to their care and giving the County Board
of Supervisors authority TO appoint Loan Commissioner"
instead Of the Governor, debated In the Assembly
considerable len 9Th. Much opposition was maze 10 tue
bill but il was finally ordered to third reading ny
vote OF 5sto IT, Mr. Days Excise Bill Was made a
specal order in the Assembly for Thurday morning ana
the friends of the bill hope bring it to vote or that
day
communication was received by the Assembly from
the Al torney General. so resolution asking
what further legislation necessary for further proec
ton to depostors In savings banks. The Attorney
General So gcegts the following changes:
Efrst--Ife trustees should be required to he actual
residents Of The state and frcehodrrs within the state
The rep Of the banks shod state me inrl rest
dcnces and occupations Of the trustees and state whether
they are freehOlers. .
Scond-Tlc banks should be more strictly confined to
the legitimate business for which they are created ana
should be allowed 20 keep check accounts, nor pay
dividends interest on deposits oftener than once III
nird-Iie RESTRICTION uron the amount that may he
loaned real estate scCurity mirht hc somewhat 10
!aycd entirely removed, ~ other safe investments
are difficult to ind.
Fotyih-it has been suggested that the amount each
pcrsnn may Gcpo,it might I've reduced 10 $1,000 or
81 900 II; such limitation does not seem desirable at
The nreSu; time and there should not IN any event %"
limitation upon deposits arising from iudcia sales or
trust funds. ,
Iihh-Thc authority given the Bank Superintendent
charge bankers for examinations shonld he icp'aed
IL contains element 90 danger III the way oi rAtu-
ton Banks might he required 10 Ply small sun mo
the Treasury TO meet 4r eXpcnse- or the rate O charge
should be- limited and all such charges should be re'
ported to the legislature.
These tn, Attorney says, the only changes
that seem to be called for at the present time but ne
suggests that deposits in savngs banks are largely
made 10 escape taxation, II would seem to b' reieiah
to allow citizens do directly what Is now done n-
rectly This can bc done by modifying the Tax laws SO
exempt from taxation bonds nud MORTGAGES htiG
private persons. and receiving not more than her
cent annual interest. This measure, he SAYS, would DO
an act ~ Justice AZ wrll "a one OF sound public policy
The Committee Canals Of both Srhale ana Assent
bis Will hold Joint meeting tomorrow. for the prrp 50
OF hearing arguments In favor OF Senator ST. Johns hl
authorizing the ion OF railroad Oh the bern"
bank tHc Erie Canal EKtUycrnur ScymOur III Is TO
ported, VIII make address in behalf OF the bill.