L. 1870, Chap. 438– An act to authorize the owners and holders of certain bonds payable to bearer to render the same payable only to order.

Negotiability, how limited. SECTION 1. It shall be lawful for the owners or holders of any bond issued by any village, town, city or county in this state, pursuant to law, and made payable to the bearer thereof, to render such bonds non-negotiable, except by the owner's indorsement, by indorsing upon the same, and subscribing a statement, that said bond is the property of such owner, and thereupon the principal sum of money mentioned in said bond shall only be payable to said owner, or his legal representatives or assigns.

[See L. 1873, ch. 595, post.]

L. 1871, Chap. 84-An act to authorize the owners and holders of certain railroad mortgage bonds made payable to bearer, to render the same payable to order only.

Railroad and other corporate bonds, how made non-negotiable. SECTION 1. It shall be lawful for any person or persons owning and holding any railroad mortgage bonds, or other corporate bonds (for which a registry is not by law provided) heretofore issued or which may be hereafter issued and made payable in this state, and which are made payable to bearer, to render the same non-negotiable by the owner and holder indorsing upon the same and subscribing a statement that said bond is the property of such owner. And thereupon the principal sum of money mentioned in said bond shall only be payable to such owner or his legal representatives or assigns.

Transfers, how made. § 2. The bonds described and referred to in the first section of this act may be transferred by an indorsement in blank, giving name and residence of assignor, or they may be transferred by an indorsement payable to bearer or to the order of the purchaser (naming him), subscribed by the assignor, giving name and place of residence.

L. 1873, Chap. 595 - An act relative to certain negotiable corporate bonds and obligations.

How owner may make bonds non-negotiable. SECTION 1. The owner or holder of any corporate or municipal bond or obligation (except such as are designed to circulate as currency), payable to bearer, heretofore issued, or which may hereafter be issued, and payable in this state, but not registered in pursuance of any law thereof, may make the same non-negotiable (except as provided in the second section of this act,) by subscribing his name to a statement indorsed thereon that such bond or obligation is his property; and thereupon the principal sum therein mentioned shall be payable only to such owner or holder, or his legal representatives or assigns.

How transferred after such indorsement. § 2. The bonds and obligations mentioned in the last section, after having been indorsed as therein provided, may be transferred by an indorsement, in blank, or payable to bearer, or to order, with the addition of the assignor's place of residence.

To apply to interest coupons. §3. The provisions of this act shall apply to all interest coupons accompanying any corporate or municipal bond or obligation payable in this state.

Repeal. § 4. So much of chapter eighty-four of the laws of one thousand eight hundred and seventy-one, entitled "An act to authorize the owners and holders of certain railroad mortgage bonds, made payable to bearer, to render the same payable to order only," as is inconsistent with this act, is hereby repealed.

L. 1885, Chap. 426- An act to enable owners of coupon bonds to convert them into registered bonds.

Coupon bonds to be converted into registered bonds. SECTION 1. Whenever any owner of coupon bonds issued by any county, city, town or village of this state, shall present any of such bonds to the officers who issued the same, or to their successors in office, with a request in writing specifying said bonds, and asking for the conversion of the same into registered bonds, such officers shall cut off the coupons attached to said bonds, and shall stamp, print or write, upon each bond, a statement, properly dated, of the number and value of the coupons so cut off, and also a statement that it is the property of the said owner, and that the interest at the rate, and on the date, as was provided by the coupons, as well as the principal of the said bond at maturity, is to be paid to said owner or to his, her, its or their attorney, assigns, successors or legal representatives, at a place of payment to be specified in said statement, which place is not to be changed from that named in the said coupons without consent in writing by said owner.

Books to be provided at expense of owners of bonds. § 2. At the expense of the owner or owners of such bonds, the said county, city, town or village shall provide a suitable and sufficient book or books in which shall be entered a full description of the amount, class, number, date of issue, and date of maturity of each bond so presented, and thereafter interest thereupon, as provided by said. coupons, shall be paid only to such registered owner or on his order, and the said bond shall be transferred only on its presentation with an assignment in writing, to be duly acknowledged and proved, as deeds are by law required to be acknowledged and proved in order to entitle them to be recorded, the name of the assignee to be by the aforesaid officers entered upon the bond so transferred and in the book above ordered to be provided.

Destruction of coupon bonds. § 3. The board of supervisors of each county, the common council of each city, the board of trustees of each village, and the town board of each town, which has issued coupon bonds, is hereby directed, at their next regular meeting, to provide formally for the destruction of all the said coupons and for the due authentication of such destruction.

Application of act limited. § 4. This act shall not apply where provision by law or local ordinance has already been made for the exchange or conversion of coupon bonds to registered bonds.

L. 1875, Chap. 27 -An act to designate the holidays to be observed in the acceptance and payment of bills of exchange, bank checks and promissory notes, and relating to the closing of public offices. [Title thus amended by L. 1881, ch. 30.)

Days to be considered as public holidays; no business to be transacted in public offices on holidays. SECTION 1. The following days and half-days, namely: The first day of January, commonly called New Year's day; the twenty-second day of February, known as Washington's birthday; the thirtieth day of May, known as Decoration day; the fourth day of July, called Independence day; the first Monday of September, to be known hereafter as Labor day; the twenty-fifth

day of December, known as Christmas day; any general election day in this state; every Saturday from twelve o'clock at noon until twelve o'clock at midnight, which is hereby designated a half-holiday; and any day appointed or recommended by the governor of this state, or the president of the United States, as a day of thanksgiving, or fasting and prayer, or other religious observance, shall, for all purposes whatever as regards the presenting for payment or acceptance, and of the protesting and giving notice of the dishonor of bills of exchange, bank checks and promissory notes, made after the passage of this act, be treated and considered as the first day of the week commonly called Sunday, and as public holidays or half-holidays; and all such bills, checks and notes otherwise presentable for acceptance or payment on any of the said days shall be deemed to be payable and be presentable for acceptance or payment on the secular or business day next succeeding such holiday; but in the case of a half-holiday shall be presentable for acceptance or payment at or before twelve o'clock noon of that day. Provided, however, that for the purpose of protesting or otherwise holding liable any party to any bill of exchange, check or promissory note, and which shall not have been paid before twelve o'clock at noon on any Saturday, a demand of acceptance or payment thereof may be made and notice of protest or dishonor thereof may be given on the next succeeding secular or business day. And provided, further, that when any person shall receive for collection any check, bill of exchange or promissory note, due and presentable for acceptance or payment on any Saturday, such person shall not be deemed guilty of any neglect or omission of duty, nor incur any liability in not presenting for payment or acceptance, or collecting such check, bill of exchange or promissory note on that day. And provided, further, that in construing this section every Saturday, unless a whole holiday as aforesaid, shall until twelve o'clock noon be deemed a secular or business day. And the days and half days aforesaid shall be considered as the first day of the week, commonly called Sunday, and as public holidays or half-holidays, for all purposes whatsoever as regards the transaction of business in the public offices of this state, or counties of this state. On all other days, or half-days, excepting Sundays, such offices shall be kept open for the transaction of business. [Thus amended by L. 1887, ch. 289, superseding L. 1881, ch. 30.]

Where holidays fall on Sunday. § 2. Whenever the first day of January, the twenty-second day of February, the thirtieth day of May, the fourth day of July, or the twenty-fifth day of December shall fall upon Sunday, the Monday next following shall be deemed a public holiday for all or any of the purposes aforesaid; provided, however, that in such case all bills of exchange, checks and promissory notes, made after the passage of this act, which would otherwise be presentable for acceptance or payment on the said Monday, shall be deemed to be presentable for acceptance or payment on the secular or business day next succeeding such holiday. [Thus amended by L. 1887, ch. 289.]

50 How. Pr. R., 313.

[The foregoing act, L. 1875, ch. 27, appears to supersede the following prior statutes upon the same subject: L. 1849, ch, 261; L. 1865, ch. 146; L. 1870, ch. 870; L. 1872, ch. 544; L. 1873, ch. 577, and ch, 639.]

L. 1887, Chap. 461 – An act to fix the time of payment of certain commercial paper.

When bills, etc., payable, which mature upon a half-holiday.

SECTION 1. All bills of

exchange and promissory notes made after the passage of this act, except those payable at sight, or on demand, which shall be otherwise payable on any halfholiday Saturday, shall be deemed to be and shall be payable on the next suc-ceeding secular or business day.

Id., as to those maturing on Sunday. § 2. All bills of exchange, checks and promissory notes made after the passage of this act, which by the terms thereof shall be payable on the first day of the week commonly called Sunday, shall be deemed to be and shall be payable on the next succeeding secular or business day.

L. 1888, Chap. 229–An act to designate April thirtieth, eighteen hundred and eighty-nine, the one hundredth anniversary of the inauguration of George Washington as first President of the United States, a holiday to be observed in the acceptance and payment of bills of exchange, bank cheques and promissory notes, and in the closing of public offices.

Holiday established; effect upon notes, etc., and public business. SECTION 1. The thirtieth day of April, eighteen hundred and eighty-nine, being the one hundredth anniversary of the inauguration of George Washington as first President of the United States, in the city of New York, shall for all purposes whatsoever in respect to the presenting for payment or acceptance, and of the protesting and giving notice of the dishonor, of bills of exchange, bank cheques and promissory notes, be treated and considered as the first day of the week commonly called Sunday and a public holiday. And all such bills, cheques and notes otherwise presentable for acceptance or payment on said day, shall be deemed to be presentable for acceptance or payment on the twenty-ninth day of April, eighteen hundred and eighty-nine. And the said thirtieth day of April, eighteen hundred and eighty-nine, shall be considered as the first day of the week commonly called Sunday, and as a public holiday, for all purposes whatsoever in respect to the transaction of business in the public offices of this state or the counties of this state.

L. 1877, Chap. 65 – An act to regulate the execution and transfer of negotiable instruments given for patent rights.

Negotiable instruments given for patent right. SECTION 1. Whenever any promissory note or other negotiable instrument shall be given, the consideration of which shall consist in whole or in part of the right to make, use or vend any patent invention or inventions, claimed or represented by the vendor at the time of sale to be patented, the words "given for a patent right," shall be prominently and legibly written or printed on the face of such note or instrument above the signature thereto; and such note or instrument in the hands of any purchaser or holder shall be subject to the same defences as in the hands of the original owner or holder.

3 How. Pr., N. S., 65; 39 Hun, 198.

Punishment for disobeying, § 2. If any person shall take, sell or transfer any promissory note or other negotiable instrument not having the words "given for a patent right" written or printed legibly and prominently on the face of such note or instrument, above the signature thereto, knowing the consideration of such note or instrument to consist in whole or in part of the right to make, use or vend any patent invention or inventions, claimed as aforesaid to be patented, every such person or persons shall be deemed guilty of a misdemeanor.

Limitation, § 3. This act shall not apply to a promissory note given solely for the purchase price or the use of a patented article.

[Supplementary Title.]

TITLE 2B.

Of Chattel Mortgages, including Liens on Canal Boats.

L. 1833, Chap. 279 — An act requiring mortgages of personal property to be filed in the town clerk's and other offices.

Chattel mortgages void unless filed. SECTION 1. Every mortgage, or conveyance intended to operate as a mortgage, of goods and chattels hereafter made, which shall not be accompanied by an immediate delivery, and be followed by an actual and continued change of possession of the things mortgaged, shall be absolutely void as against the creditors of the mortgagor, and as against subsequent purchasers and mortgagees in good faith, unless the mortgage, or a true copy thereof, shall be filed as directed in the succeeding section of this act.

45 N. Y., 621; 44 N. Y., 347; 35 N. Y., 274, 279; 28 N. Y., 256; 27 N. Y., 568; 44 Barb., 266; 47 Barb., 104; 17 N. Y., 582; 4 N. Y., 598; 3 N. Y., 311; 31 Barb., 596; 17 Wend., 495; 2 Sweeny, 226; 19 Abb. Pr. R., 354; 2 Lans., 131; 52 N. Y., 185; 54 N. Y., 675; 71 N. Y., 341; 17 Hun, 120; 69 N. Y., 69; 66 Barb., 43; 11 Hun, 634; 15 Hun, 31; 7 Daly, 675; 16 Hun, 458; 62 N. Y., 215; 7 Hun, 238; 71 N. Y., 341; 68 N. Y., 629; 73 N. Y., 609; 77 N. Y., 628; 18 Hun, 467; 23 Hun, 494; 25 Hun, 640; 33 Hun, 557; 19 W. D., 476; 66 How. Pr., 49; 21 J. & S., 480; 84 N. Y., 634; 94 N. Y., 160; 43 Hun, 147; 42 Hun, 291.

[See L. 1868, ch. 779, ante, p. 1783.]

How and where to be filed. § 2. The instruments mentioned in the preceding section shall be filed in the several towns and cities of this state where the mortgagor therein, if a resident of this state, shall reside at the time of the execution thereof; and if not a resident, then in the city or town where the property so mortgaged shall be at the time of the execution of such instrument. In the city of New York, such instrument shall be filed in the office of the register of said city. In the several cities of this state, other than the city of New York, and in the several towns of this state in which a county clerk's office is kept, in such office; and in each of the other towns in this state, in the office of the town clerk thereof; and such register and clerks are hereby required to file all such instruments aforesaid presented to them respectively for that purpose, and to endorse thereon the time of receiving the same, and shall deposit the same in their respective offices, to be kept there for the inspection of all persons interested.

1 Denio, 580; 44 N. Y., 247; 1 Robt., 93; 54 N. Y., 97, 314; 18 Barb., 193; 25 Barb., 487; 21 Barb., 202; 16 Barb., 46; 13 Barb., 329; 12 Barb., 678; 47 Barb., 104; 13 N. Y., 556; 17 Barb., 523; 15 Hun, 383; 18 Hun, 171; 11 J. & S., 335; 42 Hun, 410; 14 W. D., 241; 26 Hun, 353; 29 Hun, 584; 94 N. Y., 160.

When mortgage to cease to be valid; renewal. § 3. Every mortgage filed in pursuance of this act shall cease to be valid as against the creditors of the person making the same, or against subsequent purchasers or mortgagees in good faith, after the expiration of one year from the filing thereof, unless, within thirty days next preceding the expiration of each and every term of one year after the filing of such mortgage, a true copy of such mortgage, together with a statement exhibiting the interest of the mortgagee in the property thereby claimed by him. by virtue thereof, shall be again filed in the office of the clerk or register aforesaid of the town or city where the mortgagor shall then reside, if the mortgagor shall then be a resident of this state; and if not such resident, then in the office of the clerk or register of the town or city where the property so mortgaged was at the time of the execution of such mortgage. [Thus amended by L. 1879, ch. 418.]

19 N. Y., 497; 14 N. Y., 72; 13 N. Y., 561; 30 Barb., 486; 12 Barb., 534, 678; 8 Barb., 102; 1 Denio, 163; I Hill, 473; 28 N. Y., 277; 54 N. Y., 97; id., 675; 20 Wend., 17; 5 T. & C., 27; 2 Hun, 449; 4 T. &. C., 279; 2 Hun, 67; 64 Barb., 563; 52 N. Y., 185; 66 id., 606; 6 Bosw., 396; 11 Hun., 634; 37 N. Y., 198; 4 Abb., N. S., 321; 14 id., 20; 8 Bosw., 408; 22 Hun, 11; 14 W. D., 332; 33 Hun, 247; 40 Hun, 323; 92 Y. Y., 20; 29 Hun, 584; 43 Hun, 164.