New-York tribune., 1879-01-23
NEw.YoRK FINANCIAL INSTITUTIONS.

NFW-YORK FINANCIAL INSTITUTIONS.
THg RESOLUTIONS IN RELATION TO THE KNICKFR-
BOCKEV LIFE INSURANCE COMPANY AND THE
MANHATTAN SAVINGS INSTITUTION.
iFRoM 1IiE REGULAR CORRESPONDENT OF The TElBrNE.l
ALBANY, Jan. 22.-The Assembly debated two
resolutions ~ relation financial institutions Of the CITY
ofNew York to-day During one of thescdebaes General
George II Sharpe. who has hitherto quietly watched
the Of events, made his first speech When the
order Of resolutions was reached, addressing the
Speaker. he said that the day before while ah-
sent from tho room, resolution directing
the Knickerbocker Life Insurance Company "a
make report about the condition OF its affairs had been
passed In his opinion this resolution ought to have
been sent to the Insurance Committee. aud ne would
therefore move that the vote by which II wds passed be
reconsidcrcd. Hamilton Fish, jr, the author OF
the resolution. earnestly opposed its recon
alteration. lie said that there was no
reason Tor the Assembly retracing its steps the mat
ter and that there good for the IDsur-
ance Committee beng put in charge OF the resolution
The resolution In the interest Of the policy holders
OF the company and ought 10 be heartily supported by
eyery member %, he Assembly General Sharpe replied
that he saw no od why the company should he
required To make such report But even II there were
good reasons they ought To be stated publicly il the
Assembly Chamber They might safely be given in secret
inthe rOOns OF the Insurance Committee Any resolution
casting discredt upon corporation ought 20 be care
fully considered before being passed In conclusion
given for passing such resolution. Mr. Fish
in reply said that two years ago resolution Of
a similar nature In relation to the KnickerbOcker Com
pany had been passed but bad been unheeded by thai
corporation. He hoped the Assembly would declare it
self early In the matter of insurance, as
there was great interest felt ia the subject
throughout tbo state. Jonathan Ogden, Of Brooklyn,
SAID he WAC ignorant OF the anys condition. but he
saw no harm the resolution and snprseda the In
sirancc Committees request EXSpeakcr Sloan said Tia
he thought that M Fish's resolution inquiry
that the Legislature might properly make. He could
see no why any gentleman should Oijecttto this
information being given. No insinuatiOn whatever
against the company was made Mr. Strahan then said
''wby should information bo asked of this COM
pany speralyi" Mr. Fish replied. Because
it is still contempt Information was
asked Of 1t by the Legislature two years
ago, which II did not give. MI SIahan then said he
wanted more resnns before agreeing vote for such
resolution. Mr.. Hepburn replied that General Shar'o
declined reasons except in committee. while
Mr. Strahau wanted them hazoucd forth othe Assembly"
This WAS not consistent, III his opinion, and
lac Thought that resolutions sent TO commit
tees we're usually snothered there. vote was
taken upon General sharpes motion TO recon-
slider the vote of Yesterday. 1t was defeated
by vote ul - 10 81 large proportion of the votes
in the pncntY were given by New-YorE Assemblymen.
Dit Grady called ~ MI Fynn's resolution asking the
Bank D.r'm'nt to luH III liLQi in%l'on a3on lhc con
naH--t. iic said mat the thcVc Who stole the bonds
worm over S2.OUOoOO Of The bank had on r'd
tor cons icrai.1 rctdI them. IHls "OusldrlatiU
the bank reused 10 give AID ~" nliet. states Govern
Inent had issued bond, replace III
stolen Ouo-. Mr. Fynn's resolution would excite
alarm aud lead 10 dcpos'orS VI tie bank
srll!u ,Err csilns for fu less than they
ar p, mn rcrcG tha, M had oyeiy contlencc III thc
trustee Gf the bank. but mat ire thought thev
moi .~ active they sho"!d DC III gcttiHg the
bana going agaii He also believed the b9uk Wao
perfcct!i sound. and statement coming from the
,nIrut Of the Banking Department would cnd
AnI fear tnat gard. Cpon notion of Nj Strthan
thc re.OlIo than referred 10 thc COMMITTEE on