New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-01-18
TO REVISE THE STATUTES.
RESOLUTION OF THE STATE BAR AS
SoCIATToN-MR. LARREMORE
nv CONTEMPT"
ON CONTEMPT"

ON CONTEMPT
Albany. Jan. 1.-THE Ne~-Nork state Bar As
sorsatiou at its meeting to-day adopted resolu-
-r that the Legislature be required to provide for
4b ononlerjon OF the work OF revising the statutes
- g. ,,,yf examination and proper action to
~ revision Of the code Of procedure by commits
s,o, "a be selected BY the Governor. the members
n serve without compensation 1t is recommended
that no action be taken with reference TO code re-
vision until the subject can be fully examined and
proper recommendations be made by the commits
sion so appointed.
7, was also decided that the Law Reform Com
rnttee should select subcommittee OF FIVE OF its
members OF which the chairman of the Law Re-
form Committee should be chairman, TO represent
and act for the association IN this connection.
The discussion OF these questions brought out
-he fact that for the last two three years the
Legislature has taken no action on any bills pre-
sented by the Revision Commission, and that the
amount appropriated fer several years past has
been S2.o00-
The association devoted this afternoon to the
consideration OF 8 resolution presented by Tracy
c Becker OF Buffalo. declaring that the Bar As
ISOLATION approved Of the general scope and pur-
pose Of the bin pending in Congress for the
division Of the Federal District Of Northern New
York and the creation OF a new district Of the
parts divided. and asking Congress to pass either
The bin under consideration a similar measure
The resolution warmly debated and was finally
adopted
The following Committee on the Northern Dis
1rict OF New-York was appointed: Tracy c Becker.
OF Buffalo; Charles H Brown. OF Belmont and
Albert II. Harris, OF Rochester.
Mr. 1ARREMoRE's ADDRESS.
Wilbur Iarremore Editor Of The Network Law
Journal" read one OF the most interesting papers
Of the session Constitutional Regulation Of Con-
tempt OF Court"
The paper was a plea for the regulation OF con-
~s,--s S4o fTar-
ZION was called 70 the fact that the power TO en-
force its mandates by coHempt proceedings is es-
senttaI 70 the very existence OF court The high
est courts OF many States have directly refused 10
permit legislative bodies modify interfere with
their inherent jurisdiction in this respect The
Court Of Appeals Of New-York occupies an excep-
1ional position, having in the Of the people ex
rel Munsell agt. Court OF Oyer and Terminer Q01
N Y 2z5 recognized the right OF the Legislature
70 codify the law Of contempt and held that the
courts may not exercise any contempt jurisdiction
outside CT that conferred by the statutes II was
argued that such acquiescence in the legislative
sumption Of power logically involved concession OF
the right 10 take away the courts power commit
for contempt entirely. or. least, 10 substan-
TALLY curta IL, that the courts Independent author
ity as q coordinate department Of the Government
would be lost While the courts OF most States have
eTnced proper sesssertion. II is desirable to have
the matter expressly set right in the constitutions
N order 10 avoid Unseemly friction between the
legislative and judicial departments In New-York
4 constitutional provision is particularly required
in order set the courts or their proper legs The
rule is quite well settled that legislative bodies do
have power 10 prescribe the contempt powers Of
courts that created by legislative act and not
directly BY constitution Il contended that
there should be a constitutional regulation secur-
ing even TO OF inferior jurisdiction created
by statute the ordinary contempt powers when act
ing within their jurisdiction.
Il was also pointed out that according TO the
decisions OF ell American courts the President
OF the United States and the Governors OF the
various States have power to pardon persons con-
T1cted OF contempt, and II argued that this
rule should be changed that a executive shall
nave power 70 pardon only under such circum-
stances Of public exgency would authorize the
suspension Of the writ OF habeas corpus II a
Governor may pardon. IN HIS discretion he has the
power nulIify judicial acts, and thus the indie
pendence and coordinate character the judiciary
would be sacrificed The case Of Thomas J. WEIGH
was referred to, in which Governor HILL Of the
State Of New-York IL 1891 pardoned member Of
the Board OF County Canvassers OF Onondaga
County who had been committed for contempt for
disobedience Of judicial order relative to the
vass Of votes for State Senator
The position was generally taken that the pres
ervation OF the inherent power Of the judiciary to
commit for contempt is absolutely essential for the
unfolding Of the judiciary a separate depart
nent Of the Government according 10 the ideal Of
American Law. and that constitutions the ap
propriate place for codifying and regulating the
Law OF contempt, this function Is a vital one
concerning the essential framework OF the State
Corporate Finance" was the subject of q paper
By Charles F Bostwick- He dwelt mostly upon the
fnanciering OF corporations at the time Of their
organization. Among other things he said;
OF late vast fortunes have been made by trans
forming companies into trusts, and then unload
Ing the outsiders by the insiders OF the
securities thus obtained
Many methods can be, and indeed have been,
poyed this end sornetin the capitalization Is
liked al such an amount viii, in the Judgment
OF the promoters allow the shares be sold to the
public ~ about their par value
A prominent fnancier said that the tendency Of
public prejudice against high dividends. TO water
capital has been much accelerated by the financial
law that stock watering actually increases the
market values II company Is paying 100 per cent
n dividends its shares viii be quoted in normal
market, let Us say al I75. II the company
doubles the number OF its shares and continues 70
pay per cent. its new stock will be quoted at
sDoGI par Thus, while the original holder receives
al the aggregate the same dividends before, his
prlnclpai increases in value The law holds
gooc when shares are below par.
Inc manner Of fixing the value of good will has
become OF vast importance 10 the people trading in
corporate securities. and finally 70 the public at
large, SO far IL affects Indirectly their economic
Tor good viii TO the II been done Of late
as indirectly been the Of much Of the popu-
lar cauor against the trusts
SCHWEIGHOFER'S LAST WEEK.