The New York Herald Newspaper, February 10, 1872, Page 3

OUR SAVINGS BANKR. What the State Legislature Pro- poses To Do About Them. Text of the General Act for Their Regulation and Conduct. Stringent Provisions as to Liability of Trustees and the Invest- ments Made by the Banks. How Frauds Are To Be Pre- ‘vented and Depositors Pro- tected Against Loss. The Bill the Poor Man’s Friend and the Honest Rich Mau’s Safety, ALBANY, Feb. 9, 1872. ‘The question as to what legislation shoula be adopted with a view of correcting abuses that already exist and of abuses that may yet crop out im the savings bank system, as 1t now stands in this State, 18 aestined tw be one of exceeding importance during the present session of the Legislature, The villanies which ‘good’? savings bank officers can sometimes become guilty of, and the Peculiarities. of which have been laid bare by the recent failure of several of the “tusti- tutions” in New York cliy and eisewhere; the loose way in which the business of sowe of the banks are carried on and the fact that there is not at present sufficient legal provision to amply pro- tect the poor who gave ter WARD EARNED EARNINGS into the nands of the trustees for safe keeping, have Made a profound impression on the fnaacial heads of the Senate, and efforts are now oeing Made by the Committee on Banks to meet the general want by drawing up @ gencral law on savings banks which will, once for all, make the system what it should have always been—proof against fraud and loss to de- Positors, The committee have veen hard at work for over two weeks and have at last decided upon a Dili which they will present either next week or the week following, as a few of the mem- bers are anxious to still add some amend. ment which will, im thew opinion, make the bill not only more acceptable to all Classes of the community concerned in. the welfare of savings banks throughout the State, but render at all the more stringent and effective as a barrier ‘@galnst the peculating proclivities of DISHONEST BANK OFFICERS. . Tt should be stated that several years ago a bill somewhat similar in its seupe to the one now unler Oonsideration by the committee was presented in the Senate, and was some time aiter its 1utroducticn reported upon favorably by the Committee on Ranks; and—postea nihil. Why, it was smothered and allowed, even afterwards to see the light of day was known only to certain influences which were brought to bear against it and which came to the Legislaturo iu the shape of ‘sound advice” from Savings bank officials of experience; and I learn that one of these “experienced” individuals was no leas a person than the identical Mr. Conklin, who made his absence from the Murket Savings Bank ®@ few weeks ago so unwelcome to so many friends and fellow ciizzens. The bill now under consideration is a far more stringent one than any bill of its Kind that has ever been introduced, and 884019 @ general act, to take the place of all special acts of the same natwe heretofere passed, it will readily be secn that it di ‘ves the careful study and care the Banking Committee have given and Bre still giving to it to make it as near perfection as possible. The following is the bill in full:— Am Act to Consolidate the Several Acts Re- lating to Savings Banks, and To Provide fer a Uniiorm Administration of Their The people of the State ee and Assembly, do enact jt shall be lawful for any savings bank to re- wit any sum or suns of money that may be purpose by any person or persons, or by any Jeligious or charitable corvorations or societita, and to invest the same and declare, credit and pay interest thereon, ‘as hereinafter authorized and provided, and not otherwise. SKO. 2—The sums so deposited shail be repaid to each de- legal or authorized representatives him, ber orthem, but at such times and interest and under such regulations us the Sourd Prescribe not {ocousletent with the provi: shal positor or bis or when red with si of Trustees may gions of this Useate or on the book fasued to depositor, and shall be bind- ng on the depositor, and shall not be altered so as to affect Spy deposits which dail have been made previous to, suc jon, Unt{i after notice to the person making the de- ita #o to be affected; provided, however, that it shall be fal for the trustees, in their discretion, to require notice of sinty days before tbe withdrawal of the whole or of auy part of any deposit, ‘SEO, 3.—Whenever any deposit aball be made in any savings bank by any person, being an alien or minor, or a female, po td ‘becoming a married woman, the same shall be beld for the exclusive right and: benefit of positor and free from the control of ten of all persons whi soever except creditors; and shail be repaid, togeth the dividends thereon, to the person making the deposit, and receipt or acquittance of such allen, minor or female shall be a vaild and saflicient release and’ discharge for such ito the corporation. 0, 4.—In all actions in any Court of this State against feny savings bank by a husband, to recover for moneys de- pomted_ny his wife in her own name, or as her own money, wie may be examined and testily as @ witness {n like maoner as if she were an unmarried woman. And in all ‘actions against any savings bank to recover for moneys on it therewith, if there be any person or persons, whether jusband or wife, or otherwise, claiming the same fund, who ‘are not parties to the action, the Court in which such action fa ‘pending, shall, on the petition of such savings oxok, ‘upon five days’ notice to the plaintiff and such claim: nts, make an order amending {he proceedings 10 toe Taking such claimants parties defendant je suid Court shall thereupon, proceed to nd de- termine the righis and interests of the several parties to said action in and to said funds, The said funds or deposits which are the subject of the said action eball remain with such savings baok upon the saine Interest as other de- ts of ike amount, to the credit of the action until final nt therein, and the same shall be pall by such savings im accordance with the provisions of said final judg- ment, The question of costs in the actlous refered to i thls gection shall in all cases be in the discretion of the Court; Dut the amount when allowed shall be the same as in other sotions of a similar nature, ARTICLE I. OF INVESTMENTS. SRO, 5,.—It shall be lawfui for the trustees of any savings bank io invest the moneys depostied therein only as follows, wit: J. In tne stocks or bonds or interest-bearing Treasury notes of the United States, i 4 2 In the stocks or bonds or evidenves of debt bearing in- terest of this State. 3. In the stocks or bonds of any county, city, village or ‘town jn thie State, issued pursuant to the ‘authority of any Jaw of thie State, but not to exceed ten per cent of the whole amouat of thelr deposits bail be invested in town or village 4. In the stooks or bonds of any other State in the Union that has for three years previous to such investment being fegularly paid the interest on its legal’ bonded debt 1n y of the Untied Staie, but not to exceed in the aggregate ten per cent of the whole amount of their de- posits. 5. In bonds and mortgages on improved and productive real estate situate in this State and worth at least twice the ‘amount loaned thereon; but not to exceed forty wer cent of the. whole amount of deposits shall be #0 loaned or invesied. I 1 estate subject to the provisions of this act, all be lawful for the trustees of any sav ing opportunity for the judiclous inv is deposited with them, to ‘loan the moneys go.deposited upon the security of the slocks mentioned in sub-division’ one, two, three and four of (he last preceding 1D, provided tbat ‘not exceeding ninety nit of the market value of such recurities shall be loaned thereon. SEO, 7,—sbould the stock or securities on which loans are ade, pliraiaut to the provisions of the last preceding sec- Hou, depreciate in value after making any loan thereon, it tabail be'the duty of the trustees to require the immediate Fe- Arment of such loan made by them thereon of @ portion reo, or additional security therefor, #0 that the amount 80 loaned shall at no time exceed ninety per cent ot the mar- ket value of said securities, and no loan shall be so made without @ stipulation from the borrower thut the same abail be subject to the conditions of repayment or of additional security required by this section, BRO. 4, bunk to keep in reserve to meet current able fund of not exceeding twenty per cent of tho total mount of depoaite in such savings bank, which they may Keep on hand, on deposit, as hereinafter provided, or loaned on call on i Securdties, auiborised for lovestment in sub, divisions Fr} 8 and 4 of section 4 or ou other good and markeiabie corporate securities, the Interest or dividend which pot less two years made ueon; provided that no loan made Any securities Cther thao those authorized for investment ‘an amount f tourths of the par value, or of mark Pat of such securities 6 trustees shail be vorsaually, ‘4n amount equal V9 fifty per zent of the Jnetitution aX the ‘ime of such loss su Toant! Upon any ot) @ suddivh lous one, t for the rustees of any sav- depeited with them or any x ange, draite or sny Ver, exoa pt in the case of the ral 10 secure @ loan made upon ovided in th Next succeeding security of tvelr pass-boo + wR oaitore on th : Poegreasd st ie ape seaertiy iiell be reanires of the ber. cates of of and drawing, per- rane Webster Veal Sv tion of any ee ges zs So ee Seeerae vai ‘may elect tromt “ar, oF for a longer or shorter tru In cave the mortgagor shail degiect to do'so, and may charge the same to bi ‘and eaPenais Eoall be pald by auch mortcagor to" te sald Gorvos ne r ration and shall Ren upon the property so mortgaged un shall bé lawful for the any sa peat ip on ag an] (mig aoe fa 0 ies .nfaed under the laws of this Stato or of tbe United states, gan trust company incorporated by the laws of this State, interest st such tale not exceeding seven per agreed upon; but the sum so kept on deposit, © ball ‘are now u oh depositories . tedignated company, sus ina} ra! by the vote of a Majority Of auch trustees, approved by the Superintendent of the Banking Department; aud pro- ided further, that as vacancies occur in office of trustees of such savings bank the same shall be filled from others than cirectors of any bank or trustees of any trust company until there shall not exceed one-third of the whole number bank; and in no savings bank ber trustees who trust com trustees, and where they now exceed that proportion vacan- cies occurring shail be tilled from others than such directors or trustees. Ske. 14.—It shall be lawful for the trustees of any savings bank to purchase, hold and convey real estate as follows : 1. A lot and banking house requisite for the transaction of its business and for an iocome from such portions of the same as are not required for its own use, 2 such as auall bare been mortgaged fo it in good faith for money loaned. 8 Such as shall aye been purchased at sales upon judg ments or decrees rendered or obtained for money loaned. Teal estate as is described {n the second and third subdivisfna of section 5 of this act shall be soid by the corporation holding the same within five after the same shall be vested in such corporation by purchase or otherwise; but the Superintendent of the Banking ment may, {n nis discretion, upon the application savings bank, extend the time within which such jected, SEo, 16.—-It shall be unlawful for any savings bank directly or indirectly to dew! or trade in real estate in any other case or for any other purpose than as authorized by this act, or to deal or trade in auy wares, merchandise or_commodi- ties whatever, except as authorized by the terms of this act, and except stich personal pi ‘as may be necessary in the transaction of ite business, ARTICLE I OF SURPLU! Sxc, 17,—It aball be lawful for the trustees of any savings bank to reserve and to set aside from the gross amount of gains or prot ot the institution an amount not to exceed One per cent per annum on the deposite of such iastitution, to be held and invested as provided for in this act asa sur plus fund to meet any contingency in tts business, until such surplus shail be equal to fifteen per cent upon the amount of such deporits, 30. 18,—In determining the per cent of surplus and value of asscts held by any savings bank {ts interest-paying stock investments shall be estimated at thelr market value bonds and mortgages on which there are no arrears of 1 ent for @ longer period than three months shall be estimated ‘at not exceeding their face, and its real estate not exceeding ite cost and ci value. ARTICLE IV. OF INTEREST. S80, 19.—All savings banks shall make up their accounts f-annuaily, tothe Ist day of January and July in each rae shalt ar, and all thterest shall be credited or paid to the depo- ee 7m oe pesees: the 80th day of January and July respect- ly in each year. *. 20.—It shall be unlawful for the trustees of Ay. gay- ings bank, or for any officers or agents thereof, to credit or vay any itereat, except from profile actually earned. xo. 21,—It shall be unlawful forthe trustees of any sav- {ngs bank to declare or allow interest on any deposit fur m longer pediod than the ame has been deposited, except that deposits nade not later than the 7th day of January and July in each year, at the discretion of the trustees, may have interest ailowed upon them the same as though deposited on the Ist day of either of those months respectively. ‘Sic, 22.—No Interest shall be allowed upon any deposit exceeding the sum of five thousand dollars, or upon any or all of several deposits standing in the namo of any one de- ‘itor, in trust or otherwise, whose aggregate shall exceed umn of Ave thousand dollars, unless the same shall havo been on. it at least six months prior to such Interest being allowed thereon, S20, 28.—It shall ve lawful for the trustees of any savings vant to discriminate {n the {nterest allowed by them between the deposits of $1,000 and under and the deposits of more than one thousand dollars, Swo. 24.—It ahall be the duty of the trustees of any savings bank, after decucting the necessary expenses and the reserve for the surplus fund, as authorized by this act, to divide as nearly ag may be practicable all the remaining profits ratably. among the depositors, within the discretion conferred in tue last preceding section. a ARTICLE Y. OF REMOVAL OF TRUSTFES. . Src, 25.—It shall be the duty of the Superintendent of the Bank Department, at any time on the application of two- thirds of the Board of Trasees of any savings bank, for due cause set forth In. gald application, to suspend, under bis hand and seal, any trustee trom his office, ‘Sec, 26.- Upon issuing any such transmitted to the savin, pended {sa trustee, and such order shal Upon the minutes of saki savings bank, and notice thereof be to whom, upon application, said orig!- endent of the Banking Department iupitcate copy of such order to a Jus- jurt of the judictal district within by ‘oper 8. by anc Bim a tobe heard in’ his defonce, such order mey be vacated or con- firmed, and the coniirmation of such order sha.| be equiva- lent to'an crder for the removal of such trustee from ofice. OF THE DISSOLUTION OF SAVINGS BANK CORPORA- TIONS. i SEC, 28.—Whenever the trustees of any savings bank shall, by a vote of three-fourths of their pumber, resolve that {t is expedient to discontinue the business and operations of such savings bank, they shall transmit s copy Of such resolution to tue Superintendent of the Banking Department, with the names of the trustees voting upon such resolution in the af- firmative or negative, the names of those present and not voting and the names of thove absent at the time of such ing taken. 20. Upon recewing a copy of such resolution 1t shat! of said Superintendent himself, or one or more ¢ persons by nim appointed, to eximine the alfairs ings bank, and to prepare a full and accurate statement of its condition as regards its resources and liabi- ities. SEC. 30.—Upon the completion of such examination it shall be lawful for the Superintendent to advertise for four Weeks, in one oF more papers in the county where auch savin,s bank {s located, for proposals to assume the charge a control of auch tavings, bank at the place where the me has been transacting business, or elsewhere in the ame county; and such notice shali contain a general state- ment of mdition of auch savings bank. ‘Sko, SL—Whenever, within thirty days after the first publi- cation of the notice authorized in ‘the last preceding section, fifteen or more persons whom the Superintendent shall ap: prove shall agree to assume the charge and control of such savings bank, and to continue its business in the city, town or village where the business of such savings bank nas been transacted, it shall be the ety of the. Superintend- ent to Len A gpm 4 or hand “a ta be apers, records, account property, o' st Rature, belongingto such suvings bank, and deliver tbe same to the persons so agreeing to on its business; and thereupon the Bu; all issue to such persons his certificate, under al of ottlce, which certificate shail be’ filed the County Clerk of the county tn which such savings bavk is located, and duplicate copy shall also be filed in the Bank Department, and sball declare the persons named, therein duly incorporated as the legal successors of the late trustees of the savings bank #0 transferred. SKO, 32.—Upon the execution of such certificate of incor- poration, pursuant section, the person: come a body corporate and politic, w of the savings pank whose assets ‘have been so transferred, and shail have, by act of law and without any other or fur- ther transfer of conveyance, full possession, right, title and ownership in and to ail the real and personat estate of 1¢ otlice of savings bank, with power to hold and convey the same, Ject to the uses for which such savings bank was instituted, nd to the provisions and requirements of this act. SEC. 83.—If proposals satisfactory to the Superintendent shail not elved fi fi bank as an independent or 6 nization in the city, Villar or town where its business 1% as been transacted, d_ accey posal of any savings bank in the same county assets and Habilities of such savings bank, SEO. $4.—Upon accepting the proposal of any savings bank in the same county to assume the assets and liabilities of such dissolving savings banks, the Superintendent shall same from which such proposal has ven accepted; and the deed or instrument of conveyance executed by the Superintendent of the Banking De} ent, under his band and seal of office, or of vin bauk in whose name the same are ‘held, shall be a good, vaud and sufllcient conveyance for any real estate requiring to be sransferred or sold, oF disposed of and conveyed under these "provisions, or for the transfer of any stocks or bonds, or of any mortgages requiring to be transferred or assigned, and such conveyances of real estate or assignments of mort: be ‘entitled, without ot in any county in this State nds #0 conveyed or mortgaged, or any part re thereot, shail lie. . 86. ion of sich transfer and de. Banking Department shall rk of the county where the LY been £0 transterred was lo- cated, and also tn his own office, bis certificate deciaring inecrporation of such savings bank to de termina thereupon stich savings bank shail ve dissolved, nh its corporate existence shall and’ deter- mine; and the savings bank which such tranafer of assets has been made, shall thereafter be deemed and taken to be solely responsible to the depositors of the ik 80 dissolved for the full amount due by it to tore; and the assets so transferred to it shall 1d constitute a part of ite aggregate asseis, and the lia- ‘80 ageumed oy it shal! be and constitute a part of {ts jate itmbilities, and ft not be required to keep any ly separate statement of the ities #0 acquired or assumed. Satisfactory to the superintendent SKO. 86,—If no pro} shall, within sixty da} after the publication of the notice of this act, be received by him from OF more pefsons, nor from any savings bank, sets and liabilities of such closing perintendent shall take possession Of aul the assets, bo pers, Fecords and accounts and property of belonging to such savings bank, aud shall convert such assets into money as fast as practica: je, and shall proc pay off and discha: inoetohowig oer = U7 rge ite Habilivies xpenses of the examination and the liqu te Al + ictal itlebteds a olga Gk, ‘All other lawfal indebtedness of such except for depostis and dividends, pea igyes 4 The remaining assets pro rate among ite depositors, ‘And he shall upon taking possession of such assets file in the office of the County Clerk of the county where the sav. ings bank was located and in his own office the certificate of dissolution required in the last preceding section, and such k shall thereupon be dissolved aa in said last pre- ction provided, and sald Superintendent shall have and convey the assets of riven by accion 34 Beg possession of er ore ig rection, the Saperimentient shati tice once w week [or foUr weeks in some newspaper Dublished in the city, village or town where the savings bank was jocated, OF in some newspaper in the county, 10 all depositors or other creditors to present their claims at some place in such cl age or town, to be tn such notice, for em at the expiration of o: year from the co" i id all claims dther than of depositors «shail cease tobe valid againat the aaseta remaining in bis hands, and he shail then pablisn a list of all the depositors of #1 and upwards appearing on the booke of such savings bank who have not led for or received their pro rat distribution, with the suibgrized In section any fifteen give notic egtlomy OF to depa oor BRO. 0.--1D wh cuses Of loans uvon rewl enate a puticient } amount of their deposits respectively, and the amount if : fr b | | i ii t i i i i i 3 i HE 7 Hf i a te A | 2, 5 i 7 2 = E : , i i H f OF REPO! day of Seiraery und A rp ol w . o writing to the Super ia such proper form as on the ‘Ast day of January and July interest up to that day shall have been a to the ac counts of the depositors. BEC, 42.—Such ‘ahi unt of assets of every kind, (he amount loaned op booed and mortgage and the rate of interest, the Par value, estimated market value and rate of interest of al designating each particular Kind of sock, also any 1d 01 the interest on which is in arrears for three montas or upward; the amount! stock, with a description of for such loans and the rate of and separat y regularly p: the amount estimated market value and the the same ; the amount of cash oa OF on deposit in hawks or trust companies, with the names of the banks or trast companies where deposited, the amount in cash and the Tate of interest received on such deposit; and, in addi:ton to what is above required, shall state the principal sum of each and every bond and mortgage heid by such savings bank, Wwe town or city and the county in which the mortgaged faes are situated, and the rate of interest ot such bond and mortgage. Sr. —Such report shall also state all the liabilities of the savings bank making the same on the said Ist day of January and July, the amount due depositors, including the interest credited to them for that day, stating such interest asa separate item, and any othar debta against or claims upon such savings bank isla any may a ite assets, The January the said tet day of January, he gpen accounts 9p of % deposited and amount withdrawn during the previons year, the whole amount of the interest earned and the ‘amount of interest credited to # onitors for the year pre- ceding the date of such re) number of new accounts vested in real estate, its cust, iy income derived from opened and the nunzber of accounts closed during the year. ‘SEC. 44.—After the report required by sections 42 aua 45 to be made for the Ist day of July next, the semi-annual re- rts thereaiter tobe made for tbe lst day of January and july ineach year, as required by this act, shall state con- cerning mortgages only such as Lave been wholly paid or in part, and how much has been paid ainoe the date of the last Teport, of have been foreclosed, or such new bonds and mort- gies aa havo been taken for invartment ninoe the date of the jaxt report. And no savings bank sali hereafter be requlred to make any annual or other report tothe Ley{alature, nor to the Mayor and Commonaity of any city, nor to the Board of Supervisors of any county, nor to any other authority what- soever, except as in this uct provided, uny provisions in the charter of any savings bank to the contrary notwithstanding nof shail they pe subject. to the inspection or supervision of any local otlicer or uuthority, nor to any interierence from apy such local officer or authority in matters pertatning to their business or dealings. 8X0, 45,—Such report shall be verified py the oath of the two principal oflcers of the institution, and the statement of assets shail be verined by the oath of one or more of the trustees who examined the ursiant to the require mente of section 62 of tuts act; and any wilful f wear ing in regard to such repo! in regard to any reporis made to the Superintendent of the Banking Department pursuant to the provisions of this act shall be deemed per- jury, and be subject to he prosecuttion and punishments prescribed by law for;that offence. ‘See. 46.—1f any savings bank shall fail to furnish tothe Superintendent of the Banking Department any report or Statement required by this act, at the time so required, st ‘shull be Liable, in the discretion of the Superintendent of (he Banking Department, to forfeit the sum of one hundred dol- lars per day for every day such report or statement shall be 0 delayed or withheld ; an« the said Superintendent may main- tain an action in his'name of office to recover such penalty, and when collected the same shall be paid into the treasury Of the State and be applied to the expenses of the Bank De- variment. PAST. 47,—It shall be the duty of the Superintendent of the Banking Department, on or before the ist day of March in each year, to communicate to the Legisiature a statement of the condition of every savings bunk from which a report has been received for the preceding year, and to sugyest auy mendme the laws relating fo savings banks whic! is Judgment, may be expedient or necessary to increase the Secaiity of depositors or impart greater eflciency to the ad- ministration Oi the aifairs of Savings banks, SEO, 48—It shall be the duty of the Superintendent of the Banking Department as often as once in three years, himself, or by one or more competent persons, tobe by iin appointed to viait and thoroughly examine the condition, working and adaire generally of each and every savings bank organized and doing business tn this State, and he shall cerity to the result of such examination upon the records of each savings bank so examined; and to this end the books, papers, records and assets of every savings bank shail at all times, daring the hors of busiaers, be open for inspection and ex- amination by the Superintendent or such other persons us he may desijuate as his agente, for that purpose, ana sich examination may without previous notice of the ven. SEO. 49-—The Superintendent of the Banking, Depart. ment is hereby authorized to employ from time to ume an many clerks ae may be necessary to discharge the duties hereby imposed, andthe eulary of such clerks sball be paid to them monthly on his certificate and upon the warrant of ss ‘out of the Tr jand it of the jntendent, in, report ture, to state the names of the clerks xo employed aud the compensation allowed to them severally. ‘Sko. 60.—Kach savings bank organized and doing business in this State shall pay $5 toward de:raying the expenses {n- curred by the Sunerintendent of the Banking Department in the performance of the ,dutles imposed upon him by this act, and the residue of such expenses be ald by them in proportion to the amount of deposits” hel them severally, and the sums puld into the treasury be the State; but when the dep leas than’ five thot empt contribution, and the expense of avy special service done tor or rendered to any say’ ngs bank in examining its affairs, or otherwise, shall be paid by the savings bank for which such service fs done, im such sum as the Superintendent of, the Banking Department shall certi'y to ve just and Feasonable. ‘SxO. 61.—If any savings bank shall, after due notice, re- fuse or neglect to pay its proper share of charges 40 allotted, or such sum aa the Superintendent shall certify,to be just ‘ani reasonable, for any special service rendered on its’ be- halt, then the said Superiptendent may maintain an action In ‘is name of ofice against auch savings bank for the re: covery of such charges or sums #0 ce y ee ARTICLE Vill, MIBCRLLANEOUB PROVISIONS, SE. 62.—It shall be the duty of the trustees’ of eve ings bank, by = committee of not less than three o1 trustees, oo or about the Ist day of January in each year, to thorouyhly examive the books, vouchers and assets of such aay. such savings bank and itsaffatrs generally, and the statement or schedule of assets reported to the Superintendent of the Banking Department for the lst day of January in each year shall be based upon such examination, and shall be verlied by the oatu of the trustees making such examination ; but nothing herein contained shall be construed as prohibiting the trustees of any savings bank from requiring anch ex- ee at such other times as they shali prescribe. Paar It thall be lawrul to pay trustees of ings bank acting us officers the same, wi duties require und receive their regular, faithful attendance at the inatitution, such com: compen tion as in the opinion of a majority of the Board of Trustees shall be just and reasonable; but such majority stall be composed exclusive of any. trustees to whom such compensation shall be voted; and the vote fixing or al tering the compensation of any olicer who tn alno a lirustee shall be transmitted to the Superintendent of the Bauking Department, with the yeas and uays upon such vote, for his information. SHO, b4.— it shall be lawful for any savings bank that has a surplus of five per cent to pay thelr trustees who perform, 48 a committee, the service of ex: and vouchers of the bank; provided contained shall be construed so as to vent the payment of atrustes of any savings bank for ‘services which’ nuelt trustee may rencersaia bank in the line of such trustee's private business or profession. Sxo. 65.—All certificates or other evidences of deposit made in purauauce of the regulations of any savings bank shail be as binding upon the corporation issuing the same as if made under its cowmon seal. 8e0. 56,—The misnomer of any savings ban gift, grant, contract, conveyance or other fi not vitlate’ or impair the same if the corporation be sull- ciently described therein to ascertain the intention of the parties. SEO, 567.—It shall not be lawful for any bank, banking elation, cor jon oF individual or privatebanker to advertise or put fort nasa ravings bank, or in any way to solicit or receive deposits as a savings bank, and any bank, bank- ing association, corporation or individual or private banker that shall offend against the provisions of this section shail forfeit and pay for every such offence the sum of one hundred dollars tor every day such offence shall be con- tinued; and the Superintendent of the Banking tment may mainiain an action in his name of office tor t ery of such penalties, and when coliected the same shall be paid Into the treasury of the State. SEO, 58,—All the assets of any dank or banking tion, now or hereafter to be created, that shail become insol vent auall alter providing fof the payment of ite circulating notet applied, by the directors, sesignes or receiver thereof, in the drat place to the payment of apy sum oF suns ot money deposited with such bank or banking association by, apy savings bank, but not exceeding the amount author. ize, to be so deposited by section 18 of this act, and the pro- visions of this section shall also extend and apply to trust companics authorized to receive deposits of savings banks F the provisions term savings bank, as used in this act, shall ni ndapply to all banks or natitutions for savings, or savings banks or savings institu. tions, by whatever name known, in this State; and the pr sions, regulations, probibitions and directions of thi all aieo include and apply to every savings bank or in now 1s oF ereatter be incorporated: d to thelr trnstees, officers, servants nnd agents; and their respective chartera are hereby ao amended a8 to conform to this act. But all provisions of law reapect- ing the power and authority of the Supreme Court over trua- tees, officers and servants of these corporations are contin ‘ued and shall remain in full force and effect. KO. 60.—In order to co: concerning | fp) pe to chan, 0 be in accordance with the provisions of tnt act, Sko, 61.—-All general acta or parte of general wctein rela: tion to savings bank all special acts. or parts of speci acts inconsistent with this are berevy repeaied. SHO. 62. Thin act is hereny declared to he a public act,and shall be construed favorably for every beneiicial purpose therem contain The most important amendment to the bill, and which nas not yet been decided upon, is to make the twenty-second section so read that $1,000 shail be tne maximum amount of any individual deposic made in a savings bank, It 18 urged, however, vy one of the members that the twenty-third section covers this ground satisfactorily by diseriminating between the interests to be allowed on deposiis under as well as over and above $1,000. This seems to be the opinion of the majority of the committee who have taken the matter in The clon is decidedly a *scorcher,’”’ ana yee eighth understand an amendment 18 to pe making lt stil) stronger. Some of the Sensors whe have been consulted as to the propriety of the thing are in favor ot Nt out that portion of the fitty- third section which allows @ trastee a salary under cerigin conaitions. With the exception of these few proposed amendments, which are sull under sone we vill will be reported as given FEBRUARY 10 WASHINGTON. Amnesty Laid Out in the Senate Cham- ber---Killed by Its “Friends.” HOW NOT TO DO IT. THE NICARAGUA ROUTE, A Survey Ordered for an Inter- oceanic Canal. Wastixeror, Feb, 9, 1872. How Amuesty was Killed in the Nenate—Tho Civil Rigtts Amendmeut Broke [ts Back— Wanting Twe Voice of Passage. ‘The Senate Chamber coucentrated all the interest felt im the Capitol to-day, Its galleries were flied at noon. The short debate over Senator Edmunds’ resolution relative to proceedings im England was evidently regarded with approval. Mr. Tipton then made @ slashing assault on Mr, Sumner, General Sheridan, the New York and New Orleans Custom Houses and the President. tHe was not quite as amus- ing a8 usual, being apparently much too bitter for Wit to temper the severity of his assanita, After an hour or more was consumed im this way, the vote occurred on Mr, Corbett’s amendment to the sectton of Mr, Sumner’s amendinent under which the wera “white” would be stricken from the nataralization Jaws, Mr. Corbett is haunted by the Chinese, and don’t Want them to Rave the nght to become citizens, ‘The vote stood 13 to 33, Then came the amendment of Mr. Sumner, whien had been so far modified as to strike out churches trom its operations, There was considerable though subdued excitement manifested, both on the foor and in the galleries, while the vote proceeded, and when its close character be came maniiest the colored part of the large au- dicnee showed, in their strained attention to every name as it was called, & pardonable anxiety, At Jast the call ceased, and rapid pencils soon figured the resnit—28 w 28—a ue, and the Vice President, for the first time since he has occupied the chatr, had occasion to cast a vote, which he did, in the affirmative, A round of applause greeted his “aye,” quickly drowned by the reuking gavel and order of Mr, Colfax to have the of- fenders arrested If applause or other manifestations: Were repeated. The close result surprised many persona, it being expected that the amendment would have received several additional votes. Messrs. Aines, Brownlow, Clayton, Rice, Spencer and West were the only Southern repubiteans vot- ing with Mr, Sumner. Messrs. Pooi, Sawyer and Robertson voted against it, as did Messrs, Schurz, Trumbull and Logan, ‘The democrats all voted against the amendment, The question recurred on amnesty. Mr. Morrill submitted an amendment excluding from relief all otherwise disavied who had been aiders and abettors of the Ka Kiux, This was adopted by a vote of 33 to 16, A sharp debate grew out of remarks made by Mr, Edmunds, during which be charged that Wade Hampton, Kershaw and other South Carolina Con- federates comprised the Advisory Board of the Ku Klux State organization. Mr. Robertson resented the charge, and Mr. Blair was especially bitter in retort. Senator Scott made a forcible speech, in which, while he did not endorse Mr, Edmunds’ direct charge, he charged that the leaders named did endorse and sustain the Ku Klux. Mr. Morton’s amendment was passed requiring thas all persons from whom disabilities were re- moved should take an oath of allegiance and swear also that they were not then and had not been mem- bers of the Ku Klux Kian. Mr, Scots regarded thts ag superfiuons, because a Ku Klux would take any oath without compunction, ‘The sharpest personal rencontre of the discussion occurred at this time between Messrs, Blatr and Ed- munds, The latter commented in a caustic manner ‘on the former's apologizing for these crimes, Mr, Blair suggested he had done bis duty, whereupon Mr. Edmunds remarked that he ought to have “stuck.” Mr. Blair replied that he had “stuck” Jonger than the Vermouter, who had never gone tn atall, The reply of the latter was made ina pecuharly aggravating manner. Remarking that other men than those wearing epaulets and swords might have been good citizens and patriots, he intimated that the country had aot been saved by its brigadiers—the men who sat in their tents, drank wine and signed orders. He gave further point to bis allusion by a Pickwicklan declaration that none was meant. The new Georgia Senator, Norwood, aired his debating ca- pacity at considerable length and declared his ina- bility to vote for the amended measure. Of course the vote could not be taken without another tilt, so Messrs, Sumner and Sawyer indulged in rhetorical recrimmation and attack on each other, The vote was then taken. Two-thirds of all voting being required lent doubt to the result from the first. Six repubiicans—Messrs, Lill, Boreman, Scott, Tipton, Trumbull and Wright—votea nay. Messrs. Carpenter, Logau, Corbett, Cole, Schurz and Morrill of Maine, who were in the chamber or cloak rooms, didnot vole. Mr. Chandler left to get his dinner. Alessrs. Nye and Edmunds were paired, All other republicans voted for the measure, and the vote stood 33 to 1% The bill was Jost through the lack of two youes, required to make the needed two-thirds, Failure of the Charges Against Judges Field and Hoffman. The House Committee on the Judiciary having given several days to a hearing of William Hast ings, in support of his application for the impeach- ment of Associate Justice Field and Judge Holl. man, and having carefully considered the case, to- day decided to make an advefse report upon his memorial and ask to be discharged from a further consideration of the subject, ‘ The Alleged Pacific Railway Frauds. Some time ago Representative Moore, of lilinois, introduced @ resolution in relation to the Central Branch of the Union Pacific Railroad and other rail- Toad companies, which was referred to the Com- mittee on the Judiclary. To-day the committee agreed upon a report, in which they state that 100 miles of the road nave been completed ander the assignment made to the company by the name of the Atchison ana Pike’s Peak Railroad Company, and filed in the Department of the Interior by the railroad companies interested in 1863; that the road sg completed was accepted by the commis: sionérs appointed as prescribed py law; that bonds have been issued to the said Central Branch Union Pacific Railroad Company for all the sections of said road so completed, and patents were ordered to be issued for the lands, or fifty seven miles thereof, bv the Secretary of the Interior, which order had been opened for a rehearing before the Secretary of the Intertor and {8 now pending before him, he being the officer by law now authorized to hear and decide upon the same, and which order was not known to the House at the time of the passage of the resolution. There being no evidence of traud im the premises the committee will ask to be discharged from a (ar- ther consideration of said resolution, and tnat the same do le upon the table and the Secretary of the Interior be notified thereof. A New Survey for an Interocenni: i Through Nicaragua, The Secretary of the Navy to-day gave orders that an expedition should at once be organized for tne survey of the Nicaragua route for an inter- oceanic canal, The expedition whi ve com- manaed by Commander Crossman, and some vessel already in commission will be ordered to take the party to the Gulf station. This route was sur. veyed very carefully im 1861 ana 1852 by Colonel Childs, and the information gained at that time wiil be the basis of the proposed new survey, The M rrahan Claim. The Senate Committee on Pubitc Lands to-day were, on motion of thelr chairman, formally discharged from further consileration of the me- morial of William McGarrahan, which was then referred to the Committee on Private Lana Claims, A Conagrenni Stokes in the Claim Business, The trial of W. B, Stokes, mdicted for aiding and assisting for money, In the prosecution as agent or Canal 1872.—TRIPLE SHEEN, Attorney, of claims against the United States whire he was a member of Congress, and receiving & gra- tuity in consideration of services, ented to-day. The jury, after being out four hours, were unable to Agree upon a verdict, and were diacharged—stande ing nine for conviction and three for acquittal. A Government Clerk as a Bogus Clalm Operator. John N. Eble, clerk in the Third Auditor's office ‘Treasury Department, was arrested this alternoon on @ warrant atthe instance of the Third Auditor, who charges bim with stealing from tne files of the office certain abstracts and evidences of in- debtedness upon which to base fraudulent claims against the government. The Third Auditor Says the accused used one set of vouchers by fling them in connection with a fraudulent claim; but at Present it is impossible to teil whether he ever suc- ceeded in actually obtaming any similar claims throngh the office, #hie, as he abstracted the papers, passea them over to a supposed confederate, but wno in reality ‘Was a detective employed to watch his operations. He was required to give bail, Presidential Nominations, The President sent tne following nominations to the Senate to-day :— Gratiot Washburne, Assistant Secretary of Lega- tion to France; William Brisburne, of Pennsyiva- mia Consul at Ghent; R. C. Parsons, Assistant Surgeon in the Navy; }. Willard Bliss, to be mem- ber of the Board of Health of Washington, D. C. The Army and Deficiency Aprropriatious. The Committee on Appropriations have finished the Army Appropriation bill, It appropriates over $20,000,000, including $26,000 for Willett’s Point They have now under consideration the Deficiency bil, The amounts to be appropriated foot up thus far vo $5,600,000, The Income Tax Blanks. Commissioner Douglass has been unable to ascer- tain from the Committee on Ways and Means whe- ‘er the income tax will be continued, the com. mittee not having yet determined the question. ‘The Commissioner ts anxious to be informed on the subject, as the collection of the tax will necessitate the distribution im March of seventeen tons of bunks, THE STEAMSHIP COLORADO. Break of the Vessel Amidships and Total Loss by Wreok. ‘TELEGRAM TO THE NEW YORK HERALG. Liverroo., Feb, 9, 1872. ‘The reports which were recetved from the scene of disaster to the stranded steamship Colorado, off Crosby, in the early hours of the afternoon, were to the effect that the vessel woud be floated off to-day and towed to the dry dock for repairs, The following publication was made, however, under date of five o’ciock in the evening:—‘‘All efforts to save the Coiorado have fatled, The steamer has broken in two aud will prove a total loss.”” THE MIKADO'S RcPRESENTATIVES. The Orientais “Doing” C€ Douglas—A Thorough Examitaation of the Garrison, f Drilling, Arms, Accoutrements, and Geacral Habits of United States Troops Camp—The Visit to Brig- bam Young Considered a Breach of Eti- te. Sau Lax, Feb. 9, 1872, On an invitation of General Morrow's, Yomado, General-tn-Chiel of the Japauese Army, an instruc- wor of the army with the rank of colonel, and two military attachés, visited Camp Douglas to-cay, or the purpose of examining the internal construction and working of the military aiairs of the United States Army. The Generai was received wita an appropriate salute, and after a brief VISIT TO GENERAL MORROW'S HEADQUARTERS, he commenced with the Commandant @ tour of in- specuion und invesugation, accompanied by all we officers of the garriwon, First, Major “Gordon's company, Second cavalry, unaer command of Lieutenant Delwoodie, went through various evolu- \ions, which greatly pleased the Japanese officers. ‘The guard house was hen visited and the mode ; of performing gaard duty and the manner of keeping the prisoners explained. After the barracks of Captain McGuinness’ company had been inspected, with kiteben bunks, showing their mode of life, the old style of guos were exuivited and ex. amined, together with the accoutrements, Then they went to Colonel Nugen’s company’s quar- ters, where @ company Weat through manual drill and smail arms exercise, and where the guesis ex- amined various styles of arms and accoutrements with which the company is equipped for experi- mental purposes. by the War Department, The arms, embracing Sharp, Remington and Alyas’ Springfleid rifes and eignt styles ol accoutrements were closely exumined. The baker was next visited, and rations for one man shown them, and a ration return fliled out and given them, THE SANITARY ARRANGEMENTS OF THE CAMP were shown and explained. Commissary, Quarter- Master and Hospital Departments, the blacksmith, paint, Wheelwright and saddlery shops were then visited, and the workings iinutely explained. Copious notes were taken and a thousand questions asked, Nothing escaped the keen eye of the Japan- ese, who required full explanations, Finally the transportation Wagons and mules were extotved, and campaign lie and garrison havits Mlustrated, and every detail tully explained. the General and nis suite were evidently greatly pleased, and ex- pressed sausfa tion to General Morrow tor the valu- abie information given them. A JAPANESE FAUX PAS. After a number of assertions and deniats it is finaily certain that minister De Long aad the Em- bassy, except the @X-Aimbassador, who was Ill, visited Brigham Young, who 1s beld @ prisover of the United States in his own nouse. This step is generally regarded as a grave four pas on the part of Mr. De Long, and one that has caused no ute animated discussion on his oficial conduct, it was generals, supposed that the Em- basay was accredited to the President of the Unned States, and not to persons accused of Violsting 08 laws, The visit was brought about by an old, often practised tri here; bat it hardy excuses an Amefican Minister wo has iived on te Pacific coast for a lifetime. PROVISIONING FOR THE JOURNRY RASTWARD. The Japanese will doubtiess pe of in a day or two for the East, as a special train is expected to- morrow from Omaha. They will take ten days sup- plies and provisions and be Ly provided against the snow blockade 1h the Black Hillis and the deten- tions elsewhere on the Union Pacific road, They hope to get Wurough in that tae. UPA POLITICS. Councillor Connor has introduced a bin to pay the expenses of the Convention to frame a State coustiiution. The experiment Will cost $25,000 out o. the Territorial Treasury. No one believes Wie State will be admitted, as it has littie more than half the necessary population, The Latest from Salt Lake. SALT LAkk City, Feb, 9—Evening. Much surprise and regret have been expressed to- day among the Gentiles upon learalng that Minister De Long and the Japanese Embasay, with the ex- ception of the principal Ambassador, who was in- disposed, had cailed upon Brignam Young. It ts contended that since Young ts not occupying any recognizea official position aud i a prisoner charged with murder, Mr. De oat as the repre- sentative of the Unied states 4 has made & serious mistake tn tai vier, uch as IC compromises the Lonor of govera- ment and Minister De Long's station. The Jeeng on the subject torumat is exetting tat fome Of the subscrivers to the have with drawn their names, Mr. De Long, speaking of the Sivan yemereey bd by the United Staves Supreme aye Miost interesting of all ooaaous ante t vi Embassy in America, The addresses of Chief Justice McKean aad Governor Woods made a most favorable impression on the Japanese and public. ‘he Japanese General Ya! and suite visited Camp Dougias this aftern: received @ salute of cannes, They made @ ciose inspection of the bart ac ‘The favorable news receive | from the blockade in- spires the hope of the Embassy being avle to pro- ceed on Sunday. All are determined to start on the Drst train and take the chances of getting throagh, A report recet & seven o'clock evening states that three trains are moving westward from Rawlins station. Itis Loped that they Will reach Ug leo lo-mmorrow Bight. NAVAL ORDERS, WASHINGTON, Feb, 9, 1872. Lieutenant Charles M. Anthony has been de- tached from the Portsmouth Navy Yard and ordered totne Powhatan; Rear Admiral John Rodwers tx detached from the command ot the Asiatic Heet and ordered to retarn and orders have been issued to Rear Admiral ton A. Jenkins to proceed by the steamer of March 1 to the command of the Asiauc Oct 8 FRANOE. Political Movement for Thiers ag President for Life. The Mission to Washington Not Yet Filled—Lege islative Amnesty to Communists Under Con- dition—Flow of Specie to the Bank—Ba. zaine Said To Be Convicted of Treachery—Genera! Distrust of Official Honesty. TELEGRAM TO THE NEW YORK HERALD. Paris, Feb. 9, 1872, A political movement 1s maintained In the Legislae. tive Assembly which has for its immediate object the formal declara:ion of M. Thiers as President for lfe, and to renew the Assembly by annual elections., The propositions are reported to emanate from the, members of the Left Centre, THE MISSION TO: WASHINGTON, It 1s reported that the French Embassy at Waste ington has been offered to M. Drouyn de Lhuys, COMMUNIST AMNESTY UNDER CONDITIONS. The Assembly has approved of the report of itg committee recommending amnesty to all Commun-, sts under the rank of a commissioned officer and who have committed no offence under common 1a\ MARSHAL BAZAINE AND THE IMPERIALIST PRO-| CLIVITIES, The Patrie says the Committee of the National Assembly which 1s investigating the facts connected with the capitulation of the French fortifications and armies during the recent war has obtained proof.of Marshal Bazaine’s treachery to the re« public, LEGISLATIVE SUSPICION AN! AMBRICA, The Assembly Committee on War Contracts hast adopted a resolution asking the United States gov< ernment to furnish the result of the inquiry into thé conduct of American officials, who were suspected Of participating in the purchase of army for we French government during the war, THE PREFECTURE OF THE SEINE. M. Leon Say has tendered his resignation as Pree fect of the Seine, He will probably be succeeded v; M. Augustine Cochin. THE BULLION SUPPLY. The specio In the Bank of France nas increase@ 1,200,000 francs during the week. " GERMANY. _ LIGHT WANTED FROM) Prince Bismarcx on the Education Question and Prussianism in Poland. TELEGRAM TO THE NEW YORK HERALO BERLIN, Feb. 0, 1872, In the Diet to-day, during the debate on an edu. cation bill, Prince Bismarck said the government Was disposed to propitiate the Roman Catholics,, but its patience was exhausted. He announced it “as the policy of Prussia hereafter to Germanize the Polish schools, as France had Gallicized those of Alsace and Lorraine.’” ENGLAND. Unanimous Choice of the Ministerial Candidate for Speaker of Parliament—Preparations for tho National Thanksgiving. TELEGRAM TO THE NEW YORK HERALD. Lonnon, Feb. 9, 1872, In the House of Commons to-day the Right Hon, Henry Bouverie Brand, the Ministerial candidate,; was elected Speaker without opposition, The member thus comes quietly into an office ylelding £5,000 sterling a year, with a peerage in prospective, , (Mr. Brand’s election was spoken of as certain in the Parllamentary exuibit of coming legislative: Work which was published spectally in the HERALD Jast-Monday. Asketch of his life and public sere vices was given at the same time.) PREPARATIONS FOR THANKSGIVING. Extensive preparations are making for the thanksgiving ceremony at St. Paul's, A force of 1,000 men 1s at work dally making the necessary alterations, building staging ana decorating te cathedral, which 1s closed to the public, IRELAND. Parliamentary Prospects in Galway—The Likely Candidate for Kerry and His Antecedents, TELEGRAM TO THE NEW YORK HERALo, DuBLIn, Feb, 9, 1872. Petitions have been presented to Parliament come testing the seat of Mr. Nolan, just elected to the House of Commons, on the Home Rule issue, from Galway. The indications are that Mr. James Arthur Deas@ will be successful in the parliamentary election im Kerry. Mr. Dense’s Political Platform. Mr. James Arthur Dease 13 the eldest son of the: late Gerald Dease, Esq., of Turbotson, county of Westmeath, He was born tn the year 1826, and! married the eldest daughter of the late Charles Jerningham, Esq. He was educated at Ascot and Stonyhurst College, and is @ magistrate and deputy, heutenant for the counties of Westmeath andi Cavan. He has servea as High Sherif of botn these counties. His political prospects in the coming contest for the representation of Kerry have been set forth by his ardent supporter, Right Rev. Dr. Moriarty, Roman Catholic Bishop of Kerry, in the following words, contrasting him with his “nome rule” opponents :— We recommend to you Mr. James Arthnr Dease as a candidate whose superior abtities and matured judgment have been exerted in the furtnerance of every useful reform; Who has written essays on ten- ant right which led the way to the happy solution of that great question. He is one who will not pur, chase your votes or your confidence by pandering to popular folly or by promising what he knows cannot be pertormed. The struggle wilt be watched with deepest interest by many who wish to see in Paritament an eniignwned exponent of Catholic interests, We trust that with the vast’ major- ity of the abitants of Kerry it will not be ar objection that Mr, Dease professes with Lnem the same faith and worships with them at the same altar, Nor will the Protestant minority object to one who knows and values our constitation, who demands no privileges for nis own creed, but equal rigots for all, You have been told wat whoever does not wish for home rule “is a siave anda coward,” We do not wish for ft, and we are neither slaves nor cowards. Cowardice 1s to be foand in the hearts of those who, contrary to their convic- tions, yield to mob violence; who are airald to lift thelr voices against @ popular cry; who are afraid Of tug abuse Of Venal and dishonest demagogues, ‘ITALY, American Naval aud Ministerial Festivities in the Harbor of Nice—Minister Curtin on Board the Shenandoah. TELEGRAM TO THE NEW YORX HERALD. Panta, Feb. 9, 1872, A special despatch to the american Register from® Mice reports that Mr. Curun, the American Minister to Russia, was entertained at @ banquet on board the United States steamer Shenandoah by Com- mander Weils yesterday. ‘Salutes were fired ou the arrival and departure of ‘The banquet was preceded by a boat race in thd harbor and followed by a ball on board the Spepane doah, Which Was gayly decorated, us Agvations against the govermment are reported tm the provinces uf Valencia and Andalusia