New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-04-27
AFFAIRS AT ALBANY.
THE WAR AGAINST RECEIVERS.

Bills TO PROTECT TIE CREDITORS OF INsoLFi-NF
CORPORATIONS - STATEMENTS BY GENITAL
GEORGE H. SHAPE AND OTHERS ~ REGARD
TO TIE EXTRAvAGANCE OF RECEIVERS.
frrog rHr ErGrr Az CONFECTIONERY or rGE ThIrrNI-I
ALBANY. April 2G.-The exiravagance the
vastefuness the avoritism of the Insurance receivers
have held he attention OF The Legislature TO- months
Now como the oorrectvos FOR these abuses o. MAaN'
tnet In fhe form ofa score OF bills The chef DuiS are
five ina number and they were introduced 10y ~ i-"'
different persons General George II. sharqe7 '"
tran.fera all the assets Of TIE ineolyen' sA'''-s
bank and insurance compauc. nov rem i-lE iH '''
hands II receivers t. The state Treasurer ana ''.'
him to r1bute assets among tue creditors Oh '
insolveut corporations. q. +. Bakers OH Is u.
product Of the special nitte that has been enAso
In investigating Insurance rcceirer-hps tbs "I|
makes The supernten lent u Tie In Depa-tm ut
aud the superintendent u he Banking Department 'I
porary reo OF tue ssc,8 II The in'oVeut '9'A
items noW m charge Of receivers. and then anhorNe ie
creditors ~ the bankrupt concern. TO elect receiver
SIR Hunts hill reduces the fees OF receivers TO per
cent on first 100000 received and PAID on' ana 10
per cent an received and paid ont in excess VI
100000 SIN Brcen's Di makes The 5upernteni I'd %
the Insurance Department temporary receiver '' l'
surauce companies hereafter n-olvent. and auh"rz yes
the unsecured creditors TO elect of a' fln iaor
Mr Chamberlain. bin authorizes rhe AttornayGenera
70 bring a suit for the removal Of exravasani or IN
competent receiver and gives hin au'Aoi"J 10 super
wise the actions OF the receivers.
All tae-e bills were considered bv the Assembly TINS
morning Three of them had been made special order
for cou1d ration The hill Of General George H. shaf e.
Amounting tie state Treasurer Receiver General
was considered at great length. Il was The hr7I Dc
bated In sko.ching his bill General sharpe maze an
attack o. rrca' force upon the rcceiFrrshp s!7ein
T. the course Of hs roma ks he said;
take ~ for granted fla tho necessity ~ some law on
the subject 81 broken ins4Hncc COMPANIES Is obvious
n has h, shawn d. Gle iuNcsti alton eft tLs House
that the clarris made ns hc3e Receivers are tr re-
A few Il .rs axe TIL TAIN, Nj hai striking s.rtc.e
The Crates Come again - on this sub o. zen
consulted with state officer on this SUBJECT ne @ald II
would De impossible - pass 80 rad cal MEASURE ar
mine ~ TINS legislature II these abuses m ~
beer suffered 10 80 on without reh1ke, rcnu able
lawyers .lou not attempt to hold ia ir places 81 pro-
lon tle abuses They mad better take care; the O-ea
Of popG.ar c5ld nutiion Val sweep them &Nay 20
an ions lr. these continue this sf -tel ID con
Time ne receivers t'ey have Introduced bin for
this purpoc The who drew mp tnat oil va at or-
nee i0r Intervening awvcr and drew $1,000 ioI faFs
service Tho IOlc--Ol cr- o. not ask Tor cnntl. u
arce a patcingdp. II these reocver-nlps lhe p'oFle
want these funds distributed 81 once distributed 100
by a man VINO ue ne,d responsible FOR h- d'lS. IL
Oh. eu-.c lhe resoiy Ol savings banks ma 80
drawn hundreds Of thousands Of dollars just listen 70
their record;