The sun., 1908-03-19
SENATE ADVANCESBAEK BILLS
Also BILL FOR TWO ADDITIONAL
COUNTY JUDGES IN KINGS.
Measure PenslOnlng Employees Of Savings
banks Is Killed and One LegislAtlng Out
Of once Barge Canal Appraisers Passes
Acts TO Amend Insurance Laws.


Acts TO Amend Insurance Laws.
ALBANY, March 1s.-By a vote Of 20 10 IN
ne senate to-day killed Senator Owens's
hll pensioning the employees Of savings
hanks, This was not one Of the bills recon-
rerded by the State Superintendent Of
Banks or the Hepburn commission. Sew
era Of the latter bills we're considered In the
5. nate to-day and ordered 10 third read
irr including the one applying the amor
uation plan to savings bank securities,
the bill requiring amortization reports
from savings banks and the bill requiring
stringent oaths OF Office from trustees Of
savings banks. Senator Hinman had this
last bill amended to apply to trust COM
IGni"s,
Senator Hinman attacked the bill giving
the State Superintendent Of Banks power
toput his own man in charge Of an insolvent
institution without recourse 10 the courts,
as is done by the Comptroller OF the Cur
rancy with national banks. He insisted
that as the bill was drawn too much power
il given the Superintendent Of Banks and
that depositors. stockholders and creditors
should be permitted to have recourse 20 the
courts from any action taken by tho Super
irtendent. The bill was laid aside.
The Senate ordered TO a third reading
Senator Foelker's bill providing for two
additional County Judges in Kings county
10 serve for fourteen years, The terms
Of the present County Judges IL left at six
years, although Senator Foelker wanted
their terms extended to fourteen years
before coming up for reelection.
The Senate passed Senator Foelker's
bill legislating out Of office the three barge
canal land appraisers, who each get salary
and expenses Of $500,
The State Of New York cannot, according
10 an opinion sent TO the Assembly to-day
by Attorney General Jackson improve the
highways in the State forest preserve.
What effect this will have on the highway
Improvement bills introduced by the special
committee on highways is problematical.
The Attorney-General holds that con-
stitutional amendment must be adopted
by the people before the State can improve
llF lukuNdlH III lllt Null OlludNhb IuHuluk
through lands owned by the State Ac-
Corilng to the constitution the State must
leave the preserves acquired by it in the
same shape that they we're when purchased,
and as timber would have to be removed
IN order to widen and improve the highways
there is no jurisdiction given the Legislature
to order the removal Of such timber. 1t is
possible, though, that a test case may be
made to establish the authority Of the
Legislature in this respect
Once more the Assembly has passed the
hill Of Assemblyman De Groot's which
gives permission to cut public road
through Cypress Hill Cemetery in Queens
Borough This bill has been before the
Legislature in various forms for a number
OF years and l.'ssed the Legislature last
wear DuL was vetoed by the Governor
To-day the minority members Of the As
sembly made a determined effort to defeat
Il. and it only passed by vote Of 70 to IS,
Senator Grady's bill authorizing New
York city to lease Wards Island TO the
State for the building Of an institution
thereon passed the Assembly.
The Assembly passed. Assemblyman Whit
leys bill providing for the establishment
OF a State Iarm for women.
Assemblyman De Groot introduced a
bill amending the insurance law by pro-
vdng that when the aggregate total load
ings upon the premiums for the first year
Of insurance received by the company in
any year, after delucting the payment
for medical examinations ard inspections
OF proposed risks, shall he less than an
amount equal to Is per cent oi the next
premiums they may be UseI IN reduction
OF the charge for medical examinations
and inspections Of proposed risks.
Assemblyman SprigRins introduced bill
the corporation operating the
New York city elevated railroad TO main
tain two stairways on each side oi the street
az all stations.
Another Of Assemblyman Spriggins
bills compels telephone companies In New
York city to install slot machines in hotel,
store or other public place on request OF the
Of the place.
Assemblyman Toombs introduced two
bills, one making II a misdemeanor. TO
measure, photograph or make a physical
of crime. The other provides
that in a divorce action directions for the
care custody education and maintenance
Of he children may be made by the Court.
4 bill introduced Oy senator SAKE amends
the insurance law by providing that the
question Of whether stocks, bonds or other
evidences Of debt held by domestic insur-
anca companies as security for loans or
absolutely held by purchase and are amply
secured shall be considered in the valua-
tions Of the insurance comp anies, instead
OF the question Of whether these stocks,
bonds or other evidences Of debt are below
Iar. The present law provides that when
the Superintendent Of Insurance suspects
these securities Of being below par he may
direct the conn any TO report under oath
tho amount Of the securities and their
market value. The amendment provides
that he NAV take such action only when
tho securities are suspected Of being not
amply secured, even though they are be-
low ar. and that the company is 10 report
under oath not only the market value but
also the security for the stocks bonds or
other evidences Of debt. II provides a
method for valuing the stocks, bonds and
other evidences Of debt, when not in de-
fault or not amply secured. Ilf purchased
a. par, they are to be valued al par II pur-
chased above or below par, at the purchase
: rice adjusted. so as to bring the value TO
! ar al maturity and 10 yield meantime the
effective rate Of interest at which the pur-
chase WAS made, such purchase price to
b. IN no case taken at higher figure than
the actual market value at the time Of
purchase. The company may voluntarily
reduce the value Of any bonds, DC, pur-
chased above par toward or TO par When
sr reduced they shall not be valued at a
higher figure than such reduced value.
state Fair Bill signed by the Governor.
ALBANY. March is--Gov. Hughes to-day
e---.-- NxrLt..,. I'm 49,