IN ASSEMBLY, February 28, 1833. LIST Of bills reported to increase the capital stock of banks. [Printed pursuant to a resolution of the 28th Feb.] Increase. Greenwich bank, New-York, $300,000 Phoenix bank, New-York, 500,000 Butchers' and Drovers' bank, New-York,..... 200,000 Farmers' bank, Troy,.... 62,000 Ogdensburgh bank, .... 50,000 $1,112,000 In the list of bills for the incorporation of new banks, the Highland bank, at Newburgh, was inadvertently omitted. Its proposed capital is $150,000, which added to the former list, makes..... [Assem. No. 207.] 6,150,000 $7,262,000 IN ASSEMBLY, March 1, 1833. REPORT Of the select committee on the bill entitled "An act to confirm the appointment of certain commissioners of deeds in the county of Tioga." Mr. Farrington, from the select committee, to whom was referred the bill entitled "An act to confirm the appointment of certain commissioners of deeds in the county of Tioga," REPORTED: That the commissioners whose appointment the bill referred to your committee is designed to confirm, were regularly appointed commissioners of deeds at the last annual meeting of the board of supervisors and county judges of the county of Tioga; that no notice of the appointments was given to the persons appointed till after the time limited by law for taking the oath of office; that within twenty days after receiving notice of their appointment, the said commissioners appeared before the clerk of the county at his office and took the oath of office required by law. The delay to take the oath of office is believed by your committee to have arisen, not from any fault or neglect of the persons appointed, but from accident, or an omission on the part of the persons whose duty it was to give notice, to perform the duties required by law. Your committee are therefore of opinion that the bill referred to your committee ought to be passed. They therefore recommend it to be engrossed for a third reading. All which is respectfully submitted. IN ASSEMBLY, February 28, 1833. REPORT Of the committee on banks and insurance companies, on the petition of sundry persons in the city of New-York for the incorporation of the American Life Insurance and Trust Company. Mr. W. Baker, from the committee on banks and insurance companies, to whom was referred the petition of sundry persons in the city of New-York, praying for the incorporation of the American Life Insurance and Trust Company, REPORTED: That the petitioners ask the incorporation of a company to possess powers similar to those possessed by the New-York Life Insurance and Trust Company, now existing in the city of New-York. The business of life insurance is in its infancy in this country, and its science, as well as its use, is but imperfectly understood. It is one of the numerous modifications of the principle of adventuring the present payment of a small sum of money, with the hope on the part of the person making the payment, of receiving at some future time a larger sum, the payment of which is made to depend on some future contingency. A principle which in its varied application to the purposes of gain, has been adjusted to the intended. purpose by those who are to pay the forfeiture on the happening of the contingency; and care has therefore been taken that the chances of gain in favor of the insurer, according to known rules which experience has settled, should bear a favorable proportion to those against him. In this view, insurances may properly be [Assem. No. 209.] 1 |