The sun. [volume] (New York [N.Y.]) 1833-1916, 1902-01-09
The NEW YORK LEGISLATURE.
BILL INTRODUCED TO TAX STOCK
EXCHANGE SEATS.
II Proposes TO Tax the Value OF the Scat
tho Same rs Personal Pr~operty-Anu'
Anarchy Resolution Adopted After
naines Had Explained Ills objection.

AIiuFcfy hAt>Olutou Auopttu HsseH
Rsines Had Explained His objection.
ALBANY, Jan. s.-For the past twenty
years strike bill after strike bill hasbeen
introduced in the Legislature by diff rent
members, with n view of either closing UP
the Stock Exchange OF New York city
or.of assessing IL out of existence. To-day
however, O bill was introduced which, while
not affecting the Exchange as q corpora
ton. would compel its members to pay In
local, taxes annually s2.05o 200. This
unique measure was introduced by Assem-
blyman james j. Fitzgerald. a Tammany
lawyer. "a Mr.. Fitzgerald thinks he has a
measure which cannot be termed a strike
In any sense. The bill taxes the value
OF q seat on the Stock Exchange the same
as personal property. II also applies TO a
seat In any mercantile or stock exchange.
At the last sale OF a seat In the Stock Ex-
change the right TO a membership In that
corporation brought $50 900. There arc
100 seats In the Exchange, so that II Mr..
Fitzgerald's bill should be enacted into
q law personal property to the extent OF
$751; 900, 900 would be added to the taxable
personal values In New York city. Mr..
Fitzgeral says this personal tax could not
be evaded. because a list OF the member
ship OF the Stock Exchange could easily
be obtained. He says the money now
invested In Stock Exchange memberships
escapes taxation. whereas the seat is al
ways an asset in the holders estate.
As predicted In these dispatches on Mon
day Senator Raines, during the session Of
the senate to-day explained that the reason
he objected on Monday night to the pas
sage of Senator Elsberg's a~nti-anarchy
resolution was that Senator Elsberg got q
little ahead Of him, as he had hoped his
name would be connected with any legisla-
ton that might be enacted aimed to punish
attacks Of Anarchists or others upon the
persons Of any federal. State or other p ub-
lie officials. After Senator Raines had
made this unique explanation OF pettish-
ness on his part. the resolution was adopted
unanimously. II aims to carry out the
suggestions of Gov. Odel on this subject
and reads as follows:
Resolved, That the judiciary Committee
be aud II hereby is requested to report 10
the Senate what amendments OF the v
IL any. are expedlent and necessary IN order
20 ok responsibility upon and provide Tor
the p~lRishmsn OF ahy person IN or nl persons os
Writing. inciie or encourage others TO riot
or disorder. or to disturb or menace the peace.
order and safety OF society, or TO endeavor
m or to violate the laws OF the state
or of the United. States; and TO report a BIZ
or bills embodying such amendments as 1t
may recommend. together with its conclus-
ions and the reasons therefor, at as early a
day as may be practical Bile.
The Senate to-day confirmed without
comment all Of the appointments made by
Gov. Odell last year since the adjournment
OF the Legislature.
A~ssemblyman Adler has introduced q
bin providing for the municipal ownership
OF gas plants In New York city. This bill
- 49, 81 N III n Iua
OF years by Tammany men, and Mr., Adler
says that while Croker was In control OF
affairs in the city he took no stock in II,
but now that an honest administration has
been secured he believes the plan should
lie tried. The bill authorizes the Board Of
Aldermen to acquire control Of the gas
plants OF all private corporations in that
city, either by private sale or condemnation
proceedings. The board Is TO fI the price
Of gas. which Is not to exceed rs cents.
thinks no has a bill hat will remove tempta-
ton from tho path of policemen OF New
York city, and thus put an end 10 'protec-
ton and a corruption fund. The bill amends
the Charter SO that the city shall pay Tor
the uniforms, shields, clubs, sticks. weapons
md other insignias OF Office necessary TO a
policeman. Mr.. Blackwell contends that
The bill will benefit immensely the officers
who draw only $500 a year. as they have
TO pay about $3.50 a year out Of their salary
for uniforms and the like. Consequently.
he says. they receive for actual living ex-
penses not much more than sl2 a week,
which he considers TO be too small a sum
for a man with a family. He estimates
that his hill will cause an expenditure by
the city Of at least $500 900 annually.
Senator Slater to-day introduced an
employer liability bill which seeks to
meet the suggestions made upon this ques-
ton by Gov. Odell In his annual message
II IL founded on the Bracket bill 81 last
year. which passed the Legislature but
which the Governor refused TO sign because
II contained a provision as To the limit OF
days In which an action for
damages could be- brought. The slater
bih only To negligence actions of employees
against employers. Last years bill not
only covered ihis phase ~ the question,
but was much Inore general In Ito scope
For i%nstanoe. u applied 10 passengers
nctions agulnsi a railroad corporation.
Senator Grady ntroduoed q bil provid-
ing that a physician who has served twenty
vears AZ a lroiire surgeon 90 as a Deputy
I iofoncr ~ Corlners Physician may coms
10 wld.r the police pensio1 u n
A ihl Introduced by Senator flfberg
cauiss out a recommendation made by
Gov. Odsll in lis messigu and was before
the LrElrlliufo laht year. u provides hat
no hDal judgment annulling a maTrias"
shah IL enief"d an, ai,"f ~ ehI1Iauoh
81 ia monihs, 90 81 such shorter tine a.
ihs cpurt may pI.srrlo, alter the ming
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rnisnsl unlors foT sunlio.ni cauna the
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