The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-01-24

equal to $500 900; provided however, that ills act
shall not apply to any such foreign company now
authorized to transact such business in this State.
Such sum of S500.000 deposited with the Insurance
Department. shall be invested in the manner now pro-
vded by law as to the assets OF insurance companies
organized under the laws of this State.
DEDUcrING MORTGAGE INDEBTEDNESS.
Mr.. Morrisons bill authorizing mortgage indebted
to be deducted from the assessed value of real
estate provides that IN all of mortgages upon
real estate the mortsagor may have deducted iron
such mortgage unpaid or any part OF the principal
thereof providing such mortgagor is the owner OF
4 NEW FKArURE OF INSURANCE.
Mr.. Hepburn's life insurance bill. introduced in
the Assembly to-day provides that whenever three
payments have been made upon a policy the com
pany shall issue paid up policy to the amount or
its value. and that no policy shall lapse for the
nonpayment of the premium in whore there Is
cash dividend on the books Of the company equal
to the amount Of tue premium due.
REFEREEs FORECLOSURES SUITS.
Mr.. Wells bill in relation to the appointment of
referees in certain provides that in actions to
foreclose mortgages for the partition or sale OF real
estate and for the adineasureinent of dover. when
referee shall be appointed for any purpose the
Court shall appoint as such referee any reputable
attorney of the Supreme Court that may be agreed
upon by the plaintiff and such of the defendants
who have appeared or their attorney, and in cases
where none Of the defendants have appeared, then
the Court shall appoint such referee any reputable
attorney of the Supreme Court nominated by the
plaintiff or his attorney. provided that no person
shall be appointed a referee who holds any po-
siton clerk otherwise. i'll any court OF this
State or who has any interest whatevern the action
Wells Twenty-fourth Ward Water bill provides
that the Mayor Aldermen and Commonalty OF New
York are, through their Commissioner OF Public
Works, authorized TO contract with the Board of
Water Commissioners or the city OF Yonkers TO fur
nish supply Of water to the Twen:y;tourth
and Commonalty of the city Of New York are
authorized to borrow upon their bonds i'll the usual
form sealed with the corporate seal and signed by
the Mayor and Comptroller payable in not less than
fifty years from their respective dates, i'll OF
not less than $500 each, the money necessary to
.xrset.N, and r1
OF Estimate and Apportionment is directed.
upon the requisiton, from time to time of
said Commissioner OF Public Works, to authorize the
issue of said bonds, and to provide for the payment
thereof and the interest thereon the may be-
due and payable. The Comptroller of said city
is directed to set aside and keep apart Hinklng
fund to redeem the same bonds at maturity and to
reimburse the city treasury for the interest paid
thereon and other payments made under this act the
rents and money received for such water provided.
always, that so much of said rents and moneys
may be necessary snail be from time to time APP
piled to pay the said city Of Yonkers, or said
Board of Water Commissioners thereof, the sums
which may become and be due for such water under
the contract authorized and in OF deficiency the
Board of Estimate and Apportionment shall make APP
preparation and supply money to make good such
deficiency.
The bill introduced by Mr.. Brooks for bridge
over the Hudson. authorizes the storm King Bridge
and Railroad Company to construct bridge across
the Hudson River, between Fishkll Landing and
Cold Spring. The bridge is to be not less than 135
feet above high tide over the channel in the hudson
River and the spans of said bridge shall rest upon
piers not less than 500 feet apart for distance Of
1000 feet the channel of said river and not less
than 20O feet span in the shallower water between
the channel and the shore.
NO FEES FOR NOTES OF ISSUE
Mr.. Wells BILL to prohibit clerks of courts from
demanding fees for fling notes of issue, provides
that from and after the passage of this act it shall
be lawful for the clerk of any court Of record to
ask, demand or receive from any person any sum of
money whatever q condition precedent to filing
note of in any action where issue Of fact has
been or shall be hereafter joined.
II,
Mr.. Hurd's weigh lock resolution is as follows:-
Whereas important to reduce the expenses Of oper
possible consist with efficient
whereas il may be- found expedient to abolish all or
part the weigh locks the canals Of the States there
Resolved That the Superintenden of Public Works be-
ana no hereby requested TO furnish to this House within
and to the tonnage indicated by the weigh locks: sec
lock the canals Of the State
Adopted
IMPORTANT CONSTITUTIONAL AMENDMENTS PROPOSED.
Mr.. SINNERS concurrent resolution proposing an
amendment to the constitution provides that ''the
political and Legislative term shall begin on the
ersr as second year assemble on tse rs TUESDAY
after the first Monday in January, unless different
day shall be appointed by law" The,term of sena-
tors is made four years and of Assemblymen two
years. The following is the text of the resolution:
Resolved Of the Senate concur That section of article
TO- of tho constitution DO amended so to read as fol-
SEC o.-Ths political year and legislative shall
every second assemble on The rs tuesday after the
first Monday in January, unless different day shall be
Resolved IF the Senate concur That sections and g.
Of article of constitution be amended road
ssc 1.-The Senate shall consist of thrtytwo members
semb shall consist Of Us members who shall be chosen
sEc 5.-The members Of Assembly shall be apportoned
the Ss Of the sas by the ~ ;s
respective inhabitanss excluding aens and shall be
reman at organized until after the
H e ~ its @ e AFTER thu yssr Of
ration shall apportion the members OF Assembly amouy
and the Board Of Supervisors such counties be
entitled under such to more Nth than yo one
and in said city and county the Board Of Aldermen Of
making such superintendent shall prescribe divide
h n
territory equal TO the number q members Of Assembly 70
filed in the Offices lof the Secretary Clerks
81 Specifying Of each Sd
thereof according 70 the last preceding enumeration as
@ s' made Ss q No shall ye ss
county heretofore established and separately organized
one member Of Assembly county shall be
hsrsssr erected anss. i ,s shall s@.f to "a
county Of Fulton until the population Of the county Of
member But the Legislature may abolish the said county
anS hs & ss
dvson At any time OF counties and towns and the cree
SIC. o. Each member OF the Legislature shall receive
S 81: SALARY G sS terri sss for Of ss be
shall also receive the OF ~ for every miles they
shall travel in going to and returning from their
place of meeting In each session on the
most usual route. Whom the Senate and Assem-
bly, are convened IN extra special session
each member Of the Legislature shall receive additional
allowance Of $40 day ard Senators, when the Senate
alone Is extraordinary session. when serving
members OF the oi the trial of and
such members Of the Assembly. not exceeding nine IN
number who shall be appointed managers Of impcach
shall receive an additional allowance Of $40 day.
Resolved df the Senate concur that the foregoing
DO referred the Legislature to be chosen
general election of Senators and that in conformity
section Of article 10 of the Constitution be published
for three months previous TO the time OF such election
NATIONAL INSURANCE. COMPANY.
On the petition of Mr.. John 4. Smyth of the Insur
ance Department. and on motion OF Mr.. Hamilton
Harris, OF counsel. after hearing the Attorney Gen
cral in person, Judge Westbrook has granted order
appointing william McDcrmott, of New York,
a referee to inquire and ascertain tho claim
ants properly entitled to the securities de-
posted in tho Department by the Hope National
Life Insurance Company, of New York. The pc
tition shows that tine company organized October
an au14n roip NIL tta