that it will not make stock loans. If the borrower neglects to offer security satisfactory to the board of directors, within the time provided by the by-laws, his right to the loan shall be forfeited and he shall be charged with interest and premium, if any, for one month, and all necessary expenses incurred, if any, under the by-laws in reference to the proposed loan. All bonds and mortgages given to the association shall be deemed conditioned upon the performance of the provisions of this act relating to the payment of loans, premiums, interest and fines thereon, and the by-laws of the association, although the same may not be fully expressed therein. A borrower may repay a loan, and all arrears of interest, premium, if any, and fines thereon (or one or more shares thereof), at any stated meeting or at any time (but the by-laws may otherwise provide); when not made at a stated meeting, he shall pay interest up to the first stated meeting after such payment, or he may, by a proper notice, and directions as to the application, have the withdrawal or holding value of the shares borrowed upon, applied in payment or part payment, as the by-laws shall determine. Should there at any time be money in the treasury not called for by the borrowing or withdrawing members, the board of directors may make temporary loans to members out of the same, at such rate of interest not exceeding six per centum, and under such provisions and restrictions as the by-laws may prescribe. Such temporary loans shall not run more than ninety days and shall be secured by the personal note of the borrower, and also by a pledge of shares to the association, the withdrawal value of which shares shall be at least ten per centum more than the amount of the loan and the interest thereon to its maturity. If at any time there is money in the treasury as above in excess of the amount needed to meet the demand for such temporary loans, it may be invested in the same kind of securities and under the same restrictions as allowed to savings banks by section one hundred and sixteen of this chapter. No corporation incorporated under the provisions of this article or under the provisions of the repealed acts hereafter enumerated in section one hundred and ninetytwo of this chapter which upon the first day of March, nineteen hundred and one, was not engaged in the business of loaning its funds upon second mortgages upon real estate, shall hereafter loan any portion of its funds upon the security of real 1 estate upon which there is a prior lien or encumbrance, or accept from a borrower a mortgage upon real estate which is not a first mortgage, or purchase real estate securities, or invest any portion of its funds in real estate securities which are not first liens upon the property described in them, unless every prior mortgage, lien or encumbrance is owned by it, and no prior mortgage, lien or encumbrance shall be sold, assigned or transferred by any such corporation until all subsequent mortgages, liens or encumbrances owned by it shall have been fully paid and satisfied. A corporation incorporated under the provisions of this article, or under the provisions of either of said repealed acts hereinafter enumerated, which was, on the first day of March, nineteen hundred and one, engaged in the business of loaning its funds, or any portion thereof, upon second or divided mortgages or upon subsequent or secondary liens upon real estate, whether the prior mortgages or liens are given to or held by such corporation or not, and which shall hereafter continue to make loans upon such second mortgages or liens, shall not advance, from and after the passage of this act, in any such loans a sum when taken together with the amount of all prior liens or encumbrances, exceeds seventy-five per centum of the appraised value of the real estate. upon which such loans are made. Nor shall the total amount so loaned by any such corporation exceed at any time an amount equal to thirty-three and one-third per centum of the net amount paid in on its capital stock in good standing. Provided further that such corporation shall invest not less than fifteen per centum the first year, twenty per centum the second year, and thereafter twenty-five per centum of its receipts applicable for loaning purposes in the same securities in which savings banks are by section one hundred and sixteen of this chapter, authorized to invest their deposits and the income derived therefrom, until the funds so invested shall amount to at least twenty-five per centum, and to be at all times so maintained, of all mortgages and liens underlying the mortgages or liens held by it (except that after said fund shall amount to fifteen per centum of all underlying mortgages and liens held by such corporations, the remainder, or any portion of the remainder thereof, may be used in cases of emergency in the payment of withdrawals). Provided, however, such investment in such securities need not exceed five hundred thousand dollars in any case. No such cor poration engaged on the first day of March, nineteen hundred and one, in the business of loaning its funds or any portion thereof upon second or divided mortgages, or subsequent or secondary liens, shall after the passage of this act make any such loans upon the security of vacant or unimproved real estate. § 2. This act shall take effect immediately. Chap. 492. AN ACT amending chapter two hundred twenty-three of the laws of eighteen hundred and ninety, empowering town boards in Orleans county to raise money for the rental of grand army post rooms. Became a law, May 17, 1905, with the approval of the Governor. Passed, three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows: Section 1. Chapter two hundred and twenty-three of the laws of eighteen hundred and ninety is hereby amended by adding thereto another section to be known as section three, and to read as follows: § 3. Town boards in Orleans county may vote money for rooms for posts. It shall be lawful for the town board of any town in Orleans county at any regular or special meeting to vote a sum of money not exceeding one hundred dollars in any year, for the purpose of assisting in defraying the rental of rooms for the holding of meetings of any post of the grand army of the republic, located in such town. In case there is a post in a town adjoining a town in which no post is located, whose membership includes at least ten residents of such town having no post, it shall be lawful for the town board of such town having no post, at any regular or special meeting to vote any sum of money, not exceeding fifty dollars in any year, for the purpose of assisting in defraying the rental of rooms in such adjoining town, for the holding of meetings of a post of the grand army of the republic. All monies hereby authorized shall be assessed, levied and collected the same. as other town expenses and shall be paid to the quartermaster of such post by the supervisor, on proof to such supervisor that the post is not receiving under the provisions of this act from a town or towns more than the actual rental of such rooms. § 4. This act shall take effect immediately. Chap. 493. AN ACT to amend the labor law relative to the evidence of age of minor employees in factories, mercantile and other establishments. became a law, May 17, 1905, with the approval of the Governor. Passed, three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows: Section 1. Section seventy-six of chapter four hundred and fifteen of the laws of eighteen hundred and ninety-seven entitled "An act in relation to labor constituting chapter thirty-two of the general laws" as amended by chapter one hundred and eightyfour of the laws of nineteen hundred and three, is hereby amended so as to read as follows: § 76. Registry of children employed.-Each person owning or operating a factory and employing children therein shall keep, or cause to be kept in the office of such factory, a register, in which shall be recorded the name, birthplace, age and place of residence of all children so employed under the age of sixteen years. Such register and the certificate filed in such office shall be produced for inspection upon the demand of the commissioner of labor. On termination of the employment of a child so registered, and whose certificate is so filed, such certificate shall be forthwith surrendered by the employer to the child or its parent or guardian or custodian. The commissioner of labor may make demand on an employer in whose factory a child apparently under the age of sixteen years is employed or permitted or suffered to work, and whose employment certificate is not then filed as required by this article, that such employer shall either furnish him within ten days, evidence satisfactory to him that such child is in fact over sixteen years of age, or shall cease to employ or permit or suffer such child to work in such factory. The commissioner of labor may require from such employer the same evidence of age of such child as is required on the issuance of an I employment certificate; and the employer furnishing such evidence shall not be required to furnish any further evidence of the age of the child. A notice embodying such demand may be served on such employer personally or may be sent by mail addressed to him at said factory, and if served by post shall be deemed to have been served at the time when the letter containing the same would be delivered in the ordinary course of the post. When the employer is a corporation such notice may be served either personally upon an officer of such corporation, or by sending it by post addressed to the office or the principal place of business of such corporation. The papers constituting such evidence of age furnished by the employer in response to such demand shall be filed with the commissioner of labor and a material false statement made in any such paper or affidavit by any person, shall be a misdemeanor. In case such employer shall fail to produce and deliver to the commissioner of labor within ten days after such demand such evidence of age herein required by him, and shall thereafter continue to employ such child or permit or suffer such child to work in such factory, proof of the giving of such notice and of such failure to produce and file such evidence shall be prima facie evidence in any prosecution brought for a violation of this article that such child is under sixteen years of age and is unlawfully employed. § 2. Section one hundred and sixty-seven of chapter four hundred and fifteen of the laws of eighteen hundred and ninety-seven as amended, entitled "An act in relation to labor constituting chapter thirty-two of the general laws" as amended by chapter two hundred and fifty-five of the laws of nineteen hundred and three, is hereby amended so as to read as follows: § 167. Registry of children employed. The owner, manager, or agent of a mercantile or other establishment specified in section. one hundred and sixty-one, employing children, shall keep or cause to be kept, in the office of such establishment, a register, in which shall be recorded the name, birthplace, age and place of residence of all children so employed under the age of sixteen years. Such register and the certificates filed in such office shall be produced for inspection, upon the demand of an officer of the board, department or commissioner of health of the town, village or city where such establishment is situated. On termination of the employment of the child so registered and whose certificate |