The New York herald., 1879-03-04
THE STATE CAPITAL.

GIGANTIC RAILROAD TUNNEL UNDER THE
NORTH RIVER PEoJEcrED-THE SCHEME AS 1T
ERIE AND OTHER RoADs-REAL ESTATE AND
MORTGAGES.
(BY TELEGRAPH TO THE HERALD
ALBANY, March 3. 1879.
The Legislature .reassembled tonight after recess
Only about fifty members were present in the As
sembly, and the routine matter was particularly
dull. very important bill was reported from the
Committee on Cities. which will receive good deal
of attention. 1t provides for tunneing the Hudson
River permits the Erie Pennsylvania Central. Della
ware Lackawanna and New Jersey Central railroads
to have terminus in the lower part OF New York
CITY, This terminus will be located below Four
teenth street, on the west side The grade of
the tunnel is to be two feet to the hundred
feet, descending from the Jersey side. then three
to the hundred feet ascending on the New York
side 0O feet from the waters edge and from the
waters edge two feet to the hundred. The top Of
the tunnel in the centre of the river. where there s
depth sixty-two feet at ebb tide is to be twenty
feet below the river bed. II is estimated that
the work will about $500 600. and the capital
is ready and waiting for the passage of the BILL 1t
is calculated that the running time from the.depot
utes, and the distance two and half miles. The
struction of this tunnel will, 1t is claimed greatly
benefit the city by concentrating commerce through
different lines of transportation as is effected IN
London by the Brunell Tunnel under the Thames.
Cars will load unload at the depot there instead
of in Jersey City. The time estimated for finishing
the work is two years. and it Will obviatc. as is
claimed the great difficulty that has been much
complained concerning the lack Of terminal fecili
ties in the metropolis for the above mentioned rail-
roads.
Among the arrivals here tonight is Excise Com
missioner Roswell d. Hatch. who comes to advocate
certain bills before the Legislature affecting taxation
DEBTORS ASSIGNMENTS.
Mr.. Bakers bill to amend chapter 466 of the laws
of relation to the assignments of the estates
OF debtors for the benefit Of creditors. amends tho
act as follows
shall contain any preference in favor Of any creditor or
% As OF rs IN or
shall be void amy 81 intending sr.s to g.s such &
S0s and '1s o
h % $
within months before the of action
ss% By % ps"sa or
or eonsen, TO Judgment against him. procure
Of his S be fs n e.dss
Of s OF &
sionsiy, the persons receiving such Judgement pay
b. Ra 1 or or sensS S"snr
able cause 70 believe such person insolyent or
ence the same shall he void and an action may BE- com
a & ss ss
by such general assignee for the benefit of the cred
self and ali other cFedtors who may choose t" come
n a apply c
notice parties in interest he require for order
and such order shall be good Shown
BRooKLYS's FINANCES.
Mr.. Sheridan's bill to provide for and consolidate
the deficiency Indebtedness Of the city of Brooklyn
provides that the Mayor and Comptroller of
the city Of Brooklyn ss are hereby so authorized
less than par bonds of the said city of the
denomination of slo $40. $50, 800 and s5oogeach.
years the date Of the issue thereof at Of
interest not exceeding four per cent per annum
Whenever any bonds herein authorized to be issued
shall be hereafter issued the Comptroller of said
city shall invite proposals therefor and dis
pose Of 81 SAID bonds IN acoordance nee with. with the
act to amend the charter OF the said city. The
moneys accruing from the sale Of the bonds herein
tire deficiency debt of said city, and the amount Of
said bonds issued an and se,. sold shall ,, equal in
this act. The Board OF Estimate OF said
ths s ey annay @ the e
of this act the sum of not less than 300 which
sum shall be deposited in the sinking fund OF said
city by the Comptroller and be held. with accrued
interest solely for the purpose Of the payment Of
the bonds herein authorized to be issued.
FORECLOSURE or MORTGAGES.
Mr. varnum will tomorrow introduce a bill In re-
laton facilitating the foreclosure of mortgages
and diminishing the expense thereof. 1t provides
that judgment creditors not necessary parties,
and that their liens shall be foreclosed by tho
unless they voluntarily appear after having been
served with notice. In this way the Judgment held
by State or government be forecosed in the same
manner if held by an individual. This also makes
Il unnecessary to partners trustees, &C.,
who cannot he found within the State provided
some of their copartners cotrustees have been
found and served within the State Also the ncces-
sity of applying to the Court whenever a defendant
may be found within the United States Canada, is
done away with by giving him forty days notice in
stead of twenty to appear and answer