The Penn's Grove record., 1906-02-02

~ AAt 0ltl1 Ia
PRODUCED Tuesday were:
BY Mr.. Horner, providing for a state
military board to consist of the adiu-
tant general, quartermaster general,
the division and brigade commanders
and the colonies of the several regi-
ments, who shall prepare rules and
regulations from time to time for the
government of the national guard.
These rules, when published on ap-
prevail Of the commander-in -chief. shall
be binding.
By Mr.. Horner, providing that the
governor and commander-in-chief may
retire any member Of the national
guard at the age of sixty, and if he
has served as a commissioned officer
for over twenty-five years he may re-
ceive a brevet rank n grade higher
than that held during service.
By Mr.. Cornish, providing for the
election of assemblymen by districts
instead of counties. 1t is the Demo-
cratic measure of 1891.
By Mr.. Minturn, providing that
street railway franchises in cities shall
not be granted for a longer period than
five years, renewable at the option of
the governing body. For a longer con-
cession a vote of the people must be
taken at the next regular election.
A hearing on the Frelinghuysen auto
mobile bill will be given next Wednes-
day Immediately after the morning ses-
sion.
Hearing on Insurance investigation.
The hearing on the legislatures joint
resolution proposing an investigation
of the banks and insurance companies
of the state was held by joint commit
tees from the senate and house on
Tuesday afternoon. The hearing took
an unexpected turn when Assembly
man Martin of Essex, the introducsr of
the house resolution for an investiga-
ton, proposed an amendment by which
the investigation, If prosecuted, will be
confined to insurance companies and
their relations to subsidiary companies.
When questioned as to what he meant
by subsidiary companies Mr.. Martin
said he meant a company of any kind
controlled by or under the supervision
Of an insurance company. The amend
ment met with the approval of Senator
Colby, and the discussion at the hear
ing was limited to the amended resolu
ton.
Mr.. Martin said that its purpose was
to ascertain what control the depart
ment of banking and insurance has
over the banks and insurance compa-
MES Of the state. He said the sugges-
ton of an investigation by a special
committee had aroused opposition
which had not been intended, because
1t had not been expected to arouse sus-
picion against any of the concerns that
might be involved, merely to ascertain
if the laws of New Jersey were suffi-
cient for the protection Of ~depOsitors
and policy holders.
Griggs Defends Banking Department.
John W. Griggs, representing the
New Jersey Bankers association, said
that he was gratifed with the propos-
ed amendment in that it removed the
suspicion that was cast upon the fnan-
cial institutions of the state by the
prospect of an investigation at the
hands of a body of men who in the
eyes of the public would assume the
proportions of an inquisition. New
Jersey, he said, has the finest depart
ment of banking that exists In any
state in the Union, and its banking in
situations speak for themselves in the
fact that only one failure of a bank or
trust company has occurred in the
state in thirteen years.
A number Of speakers against the
bill were heard, including R. V. Linda
bury, who appeared for the Prudential
Insurance company. 1t is scarcely
probable that the resolution, even in its
amended shape, will be passed.
Senator Avis introduced a bill on
that where the parents of a child are
negligent or unfit a petition for custody
Of the minor may be made by any in
terested person or children's society to
the judge of the court of common pleas,
who shall have full power. The pres
eLlt law llulltS the CVuIto dCt1ou " lut
chancellor or any supreme court JUS
tice.
Monday afternoon was taken up with
three important hearings-viz, the Hill
lery tax rate limit repeater, the Jack
son fee bill for county officers and the
limited franchise bills which have been
introduced in the legislature. Many
views were presented at each of the
hearings, and the indications are that
the Hillery law may be repealed or at
least amended to a considerable
tent. The fee bill is likely to go
through without difficulty, and limited
franchises will very probably become a
state policy.