New-York tribune., 1899-03-23
NEW JERSEY NEWS.
THE NEW BANKING BILLS.
AMENDMENTS MADE IN THE SENATE.
THEIR PASSAGE NECEssTTATED BY Az ERROR ~
THE REVISION or 1896 PROGRESS
OF OTHER MEASURES.

OF OTHER MEASURES.
Trenton. March % (speciaD-The passage ot the
proposed revision Of the banking laws made
imperative to-day by the discovery OF the fact that
in the revision OF the corporation laws In 1896 the
acts under which the trust companies were receiv-
ing deposits and discounting paper were unwttingy
repealed Section Of the revision falling 10 exempt
these laws from the general repeater az the end OF
the bill
The Commission which drew the three acts rela-
tive respectively 10 banks and banking, trust com
panies and safe-depost companies has been In fire.
quent conference with the Senate Committee on
Banks and Insurance, perfecting the measures ana
II was decided 70 alter the provision with regard
70 cash on hand as 70 require each BANK or trus
cent OF its demand deposits, the other four-ifths
70 be kept Immediately available in otner oanks.
removed. the Commissioners power 20 act IN such
ease being regarded as suicent ,a ,vo largest
trust companies In the State as TO tne taxatl9n oi
rus companies nj The Jersey cy company ns w,sneo 20
he assessed In the taxing district In wnicn me ,
company prevailed. and it was decided to tax each
trust company on its capital STOCK IN ,ne 'aNNe N
district In which the company does business N9
tax was placed on the accumulated surplus aho
undivided profits ,,
forbdding the making OF loans TO officers OF tho
bank except reference 70 tho Board and to limit
loans 10 any individual IN 10 per cent Of the capi'a
stock and surplus except on collateral 49,. -
provision was agreed 70 authorizing trlst CON,
nersons holding places o., trust II this function is
enumerated IN the powers OF the company III une
These amendmenis and others that we're yer6aI ,1s
were incorporated in the bills in the senate ah0
they were ordered 70 third reading
POLLUTION LEGISLATION.
Tho prospects are not So favorable last night
ror the massage of a stringent dealing with
the pollution Of the waters Of the State tn" com
mittee has not vet been able 70 agree upon amend
ments 10 the Commission hlI or or upon ,ne , M m
ffro, oh n afrf =
evil Of such magnitude as the present c9nd'lon
op1to1, direr ns to how Far 70 go IN iegisianr
against the perpetuation OF the nuisance whicn t y
Newark An earnest errort s being made to reach
an agreement out y i likey ma me resut -, WI
restricted than those provided in the bill now
IN committee.
THE BUILDING AND LOAN BILL.
Mr. Bells BIZ FOR State supervision ~ building
and loan associations IS being re-engrossed and
will come up on mai passage In the Senate n.
morrow The committee has withstood the pressure
smasculate the bill. and n is believed that the
make the required reports cover the fiscal year of
each association and 20 require that they he nled
within sixty days after tho cose ~ The associa-
tons fiscal year
TRACK ELEVATION BILL
Colonel Price vas here to-day doing uphill work
IN behalf of the Track Elevation bn
Jersey city last night furnished an Illustration
of the evils of grade crossing John Murphy forty
was struck bv train and Instantly killed A. the
Henderson-st crossing ~ he Erie Railroad
Tho Erie opposes the Newark Track Elevation
PROGRESS OF OTHER MEASURES
The Dependent Chlldrens Board of Guardians
bill passed on second reading I'm the senate today
In its present shape II provides that whore private
homes cannot he found for dependent children
they shall be committed 70 ingiliutlons OF the re-
objection raised against the bill
There viii bo hearing I'm the Senate at noon to-
morrow on the proposed revision ~ the school
Miss Allen is interchangeable in her efforts in behalf
possible that she Will succeed in having y passed
GAsKGLL CONFIRMED.
n executive session the Senate confirmed the
nomination OF Joseph n Gasklll for Judge OF the
Burlington County courts. Also the pending nom
nations for State Fish Commissioners and trustees
OF the Reform School for Boys. already published
BILLS SIGNED BY THE GOVERNOR.
Governor Voorhees, signed the following among
other bills to-day:
Senator Ketcham's Volunteers Compenss tion bill
Senator Frauciss auncNing 10 North Spring
Lake. part Of Wal Township Monmouth County
M n e TSaR d d 9f E6ncaGn 81 81 the the
people at large and redgcng the nemoership from +.
+ ~as nearly midnight before Governor voorhees,
legislature ana when he was through thirty-one
laws had been added 70 the state statutes
ington Park Liquor License bin. which the Gov 4
ernor filed without his approval thereby allowing
Othsr bills signed were senator Franciss allow I
Ing TWO district courts IN cities of 10000 population
or over and district IN other cities
NJ Dexheimers. amending the act relative 70 /
10 summsry inquire into the mental condition u I
NIr jones' authorizing South Orange to purchase
thereon