New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-03-12
BONDS NOT TO BE TAXED.
THE CONTROLLERS BILL PASSED By THE
ASSEMBLY.
ABEI.r. SCORES A POINT IN HIS FIGHT FOR THE
SAVAGE RIFLE-STATEN ISLAND POLICE BILL.
CARRIED-ASSEMRIlY PROCEEDINGS.

SAVAGE RIFLE-sTATEN ISLAND POLICE BILL.
CARRIED-AssEMBLY PROCEEDINGS.
Albany. March 1.-THE Assembly to-day took up
as a special order Senator Ellsworth's bill ex-
empting State bonds from taxation Mr.. Arm
strong entered into a vigorous opposition 10 the
measure. He began by declaring that the motive
which induced the drawing of the bill was the de-
sire to make present OF these bonds to a num-
Der of favored people who were awaiting eGisla-
ton which would permit them TO purchase at
ridiculously low figure He denied that the sale
at par of bonds subject taxation was an inn
possibility. had been charged He cited me
case of the Lake Shore Railroad. which had re-
Gently refunded part OF its debts and hoated
bonds easily al a premium that were not exempt
from taxation. Who knew but what AZ this very
moment there were bids lying in tho Controllers
office There was no doubt that capital was
eager to nves: In New-York State securities. The
State was never more solvent. Most common
wealths were bonded nearly TO their constitutional
limit but New.York shining example 10
the contrary.
Mr. Dudley, Of Niagara. spoke next. He appre-
hended that most Of the opposition TO the Dill
grew out Of a misunderstanding of Its provisions.
The State authorities believed II was the only
fea sible plan to place the bonds upon the market.
'Wil the gentleman inform me why 1t Is that
the financial heads Of the State are In such
phanthropic mood now. when NNo"" OF 'he
bonds have already been sold at premium ana
-,,h,.c, TO taxation -. interrupted Mr. Armstrong.
Because II was found most d'fhcult 10 dispose
NJ that 81 600 WORTH" answered Mr. Dudley.
They were taken up by foreign investors resiuils
IN Scotland 1t was impossible 10 find domestic
buyers"
Mr. Dudley then went on to say mat because
of the trouble in floating taxed bonds, the Nauohai
Government and the municipalities OF New io'A
and BROOKLYN all exempted those issued by them
q
metc and he showed figures in favor Of the State
selling the bonds untaxed
Nv Marshall. of Kings, favored the bill. and
maintained that 1t would be hard 70 hhu ''e oue''
of bonds to collect a tax II it were imposed.
Mr. Nixon closed the debate. He termed MT Arm
srongs opposition TO the bill as all isnu
cally but a failure when 1t was pracucaiiy cariieu
out Unless these bonds were exempt from taxation
the Controller could not sell them at par. lhere
NOS No syndicate back Of the bill If II was passed
ey "omd have as good an opportunity others
Mr. Nixon then moved the previous aues"oH' i"e
Mr. Garbys bill for the reorganization nj, Of the
Richmond County Police Departmen met Win c rhe
wa returned from the Senate Yesterday
with amendments After some debate IL was passeu
Mr.. Murphy's bill TO authorize the exchange OF
Remington rifles or the part OF me ,b S.a In,ied
States Government was next taken up MI Tho biIl
of M I'D %rS6 5S stated fST an II Simply
az exctanee some old worthless arms for better
Mr. Van Keuren declared that there was more
hack ~ the bill than was apparent on the surface
II was a move against the adoption OF the savage
gun which had been proved TO be an arm superior
to all others Mr. Murphy complained that Mr.
Van Keuren was not talking on the question under
discussion which not the ADOPTION OF the
savage rife The Chair held the point not well
latitude Mr.. Fish declared that the Springfield
rife had been found wanting In many actions par
cSsisr wa as Killed XIII i''''' ,,,.,.
for the Springfield rife should be exchanged ior the
Remington rife when the exchange OF guns was
made and tina, the bill be recommifted This was
carried by a vote Of Is TO p.
The following bills were passed.
Mr. Husted's providing that freproof dwelling
houses shall excee disc feet In streets and ave-
nues exceeding seventy-nine feet In WIDTH, ana 100
feet in streets not exceeding seventy-nine feet In
Mr. Mathewson's authorizing New-York City TO
issue $3.50 600 bonds provide for bridge and APP
proaches over the Bronx River near Woodiawn
Mr. Roehr's. appropriating $500 for the volunteer
ties wing corps OF the State of New-York inland
waters). ,,, IT.. 4. $500,
chased with the proceeds OF a pension shall he
assessed as other profrty. and that application can
then be made for percentage OF exemption accord
ing law - ,.,,
nv Mr. Lewis-Proyidng for the appointment by
the Governor Of a State Superintendent OF Schools
for the Deaf who shall receive an annual salary OF
ESQ ,,, r,,
70 erect foot bridge for pedestrians over the rail-
road cut Park-ave and Ninety-eiehth-st, New
York. 49, .
ba thho,ses and authorizing the Mayor Of each city
TO appoint a City Gath Commissioner