Evening star. [volume] (Washington, D.C.) 1854-1972, 1879-01-16
The Distric, Congress.

THE FIRST NATIONAL BANK OF NEW YORK AND
TIE DISTRICT TAX LIEN CERTIFICATES
III tie communication accompanying the bill
introduced III the Senate yesterday by Mr. Dor
sey, providing for the payment OF certain obi
cations Of the District, mentioned in last eve
Hllig S STAR. reference was made by the District
commissioners, In explanation Of section No 3
OF the bill, to the correspondence with the First
National Bank CT New York, who are the largest
holders CT the tax lien certificates to be replaced
by the per cent certificates 4 letter from
George +. Baker. president OF the First National
Bank OF New York, was enclosed by the Dis
trict commissioners. In this letter Mr.. Baker
states that the original act providing for the
issuing CT What are called .-greenback eghtS
contemplated the holding OF all the assessment
certificates issued by the board OF public works
by II G cCmIniSStC noTS OF the sinking fund and
to tlat end they were instructed TO purchase
those outstanding, ard. II necessary, to provide
means l therefor 10 Issue an additional amount
OF the per cent. certificates. SubSeuuently
Congress repealed the latter portion, leaving
the authority to purchase only with such funds
as came into their hands. AS it seems desirable
that the present commissioner of the sinking
iund should have all Of the assessment certfti-
Gates i'll his hands he suggests that Congress be
requested to Teenact the provision it reScinded
The bank holds 100000 Of the certificates, and
il thinks other holders OF the certificates viii be
wiling to surrender these 10 per cent certit-
Gates and take The ''greeGbacRS therefor: the
assessment certificates TO be received by the
commissioners at par and interest to January
!, 1879, and the holders TO receive in payment
the per cent. certificates par, bearing inter
est from that date.
In reply to this letter the District Commits
si0EerS forwarded Mr.. Baker draft of bill
prepared by them on the subject, embracing
their views.
On the Esd OF December MI Baker replied 10
the letter enclosing the draft OF the bill. Mr..
Baker said that the practice OF the District in
receiving payment tor assessments had been to
charge interest at 10 per cent. 30 date OF pay
ment, and to receive per cent. at par and in
teIest to saIne date. and when the original law
n ifi haf,y
that basis. Mr. Baker claimed that one section
CT the draft Of the bin drawn would virtually
coh1tscate 10 or IL per cent. OF the principal by
ant 'C-dating the reduction OF interest. which is
so unjust that Mr.. Baker could not believe that
II could have been the intention OF the CommiS-
Sl0reiS, as no holder OF certificates would eX-
change on such terms.
SECRETARY ROBSON was before the House
naval committee this morning, and made a
statement in explanation of his course in rnia
ton 10 the completion Of the double turret iron
clad monitors. The committee will hold an
other session this afternoon and hear him fur
ther In reference TO the sale of old material OF
the navy yard, and other matters, respecting
which testimony has heretofore been taken 10y
tie committee.
GEN. SHIELDS NOMINATED FOR TIE t. s SEN
A1E.-The Missouri democratic legislative eau
Gus last night nominated Gen. James Shields
for the Senatorial short term. over David H.
Armstrong, by vote OF IS TO 81. Gen. Shields
represented Illinois and Minnesota in the L. S
senate. The long term nomination was post
poned until tonight.
THE LOUISIANA sENAToRsHiP, Erc.-The bill
calling constitutional convention was DaSSed
by a vote OF "a TO 10 in the Louisiana Senate yes
teIday. In the legislative caucus the vote for
I. $. Senator was as follows EuStis 29 Jonas
g. kenDer q, scattering 10. The caucus then
adjourned Until to-day.
THE ExPREssNEN's MUTUAL BENEFIT AssocIA-
T1eN, S NJ. Shoemaker, of Baltimore, president,
met in New York yesterday in annual conven-
ton, and, after organization, the members were
taken around town in express wagons. The ob-
ject Of The association is beneficial. There are
2,500-members, and during the past year $9s, So
have been paid for death claims.
Gov. VANCE NOMINATED FOR THE SENATE
The democratic caucus OF the North Carolina
legislature last night nominated Gov. Vance
for L. S Senator by acclamation. He addressed
the caucus speaking in faver Of party harmony
and organization.
IMPORTANT TO BUILDING SOCIETIES. The
court of appeals recently rendered decision
Whcn VIII put stop to the practice Of building
associations selling under power in mortgages.
The court decides that only natural and not
an artificial person (as a corporati0n) can exc
cute power of sale. and that when the mort
gage authorizes sale by the association or its
the attorney can sell unless the attorney is des-
lsnated by name In the mortgage. The efect
OF This decision Will be to neceSsitate aSsocia-
tlons obtaining DEGREES for sale by filing bills to
IOrecl0Se their mort cages in the way ordinarily
pursued by mortgages before the practice OF
selling under power came in vogue: The ieci
sion does not go to the extent of inyalidatinp
Cltles under such sales as have already been
made and ratified by the court (although il will
stop such sales in the future) nor does it affect
the validity of the mortgages themselves.-
IBah. Gazette.
IHE RENO INvESTIGATIoN.-It is claimed by
I0e friends OF Major Reno that Tuesdays evi-
dence before the court OF inquiry, at Chicago.
showed that Reno could not have heard the
noise OF skirmishing in Custer's fight from the
position which he occupied, when, as it will be
attempted to prove, he should have taken
fled yesterday that Major Reno's forces came
upon the scene exhausted through swift march,
ING and when thew me- fha Tndfanc xuoro n,ro,.