than one thousand dollars, or be imprisoned not more than six months, or by both such fine and imprisonment at the discretion of the court.

§ 3. Section three hundred and twenty-one is hereby amended to read as follows:

§ 321. Power of state comptroller.-Every person, firm, company, association, or corporation, making a sale, agreement to sell, delivery, or transfer, of shares or certificates of stock shall keep a true record of such transaction and the date thereof. The state comptroller may at any time after transfers of stock which by the provisions of this article are subject to a state stamp tax, inquire into and ascertain whether the tax imposed by the provisions of this article has been paid. For the purpose of ascertaining such fact the comptroller shall have the right and it shall be his duty to examine the books and papers of any person, firm, company, association or corporation, and memoranda of transfers shall remain accessible for such inspection for three months from their respective dates. If from such examination the comptroller ascertains that the tax provided for in this article has not been paid he shall bring an action in any court of competent jurisdiction for the recovery of such tax and for any penalty incurred by any person under the provisions of this article.

84. This act shall take effect immediately.

Chap. 415.

AN ACT to amend chapter seven hundred and twenty-three of the laws of nineteen hundred and five, entitled "An act to establish a state water commission and to define its powers and duties, and making an appropriation therefor," generally. Became a law, May 11, 1906, 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. Sections two, three, four and five of chapter seven hundred and twenty-three of the laws of nineteen hundred and five, entitled "An act to establish a state water commission and to define its powers and duties, and making an appropriation therefor," are hereby amended to read, respectively, as follows: § 2. No municipal corporation or other civil division of the

state, and no board, commission or other body of or for any such municipal corporation or other civil division of the state shall, nor shall any person or water-works corporation engaged in supplying or proposing to supply the inhabitants of any municipal corporation with water, after this act takes effect, have any power to acquire, take, or condemn lands for any new or additional sources of water supply, until such person, corporation or civil division, has first submitted the maps and profiles therefor to said commission, as hereinafter provided, and until said commission shall have approved the same.

§ 3. Any municipal corporation or other civil division of the state, or any person or water-works corporation, may make application by petition in writing to the said commission for the approval of its maps and profiles of such new or additional source. or sources of water supply. Such application shall be accompanied by an exhibit of maps of the lands to be acquired and profiles thereof showing the sites and areas of the proposed reservoirs and other works, the profiles of the aqueduct lines and the flow lines of the water when impounded, plans and surveys and abstract of official reports relating to the same, showing the need for a particular source or sources of supply and the reasons. therefor, and shall be accompanied by a plan or scheme to determine and provide for the payment of the proper compensation for any and all damages to persons or property, whether direct or indirect, which will result from the acquiring of said lands and the execution of said plans. Such petition shall also be accompanied by such proof as to the character and purity of the water supply proposed to be acquired as the state water supply commission shall require. If such petition is made by a person or water-works corporation, it shall be accompanied by an undertaking in such amount and with such sureties as the state water supply commission shall determine, that such person or waterworks corporation will pay the expenses of the hearing and determination as hereinafter provided. Said commission shall thereupon cause public notice to be given that on a day therein named the commission will meet at its office in the city of Albany, or at such other place as it may particularly specify in said notice, for the purpose of hearing all persons, municipal corporations or other civil divisions of the state that may be affected thereby. Such notice shall be published in such newspapers and for such length of time, not exceeding four weeks, as the commission shall determine. At any time prior to the day specified in such notice

any person or municipal corporation or the proper authorities of any civil division of the state may file in the office of the commission at Albany objections to the project proposed by such application. Every objection so filed shall particularly specify the ground thereof. Said commission shall, upon the day specified in said notice, or upon such subsequent day or days to which it may adjourn the hearing, proceed to examine the said maps and profiles and to hear the proofs and arguments submitted in support and in opposition to the proposed project, but no person, municipal corporation or local authorities shall be heard in opposition thereto except on objections filed as authorized by this section. The commission shall determine whether the plans proposed are justified by public necessity, and whether such plans are just and equitable to the other municipalities and civil divisions of the state affected thereby and to the inhabitants thereof, particular consideration being given to their present and future necessities for sources of water supply, and whether said plans make fair and equitable provisions for the determination and payment of any and all damages to persons and property, both direct and indirect which will result from the execution of said plans. Said commission shall within ninety days after the final hearing and with all convenient speed, either approve such application as presented or with such modifications in the plans submitted as it may deem necessary to protect the water supply and the interest of any other municipal corporation, or other civil division of the state, or the inhabitants thereof, or to bring into cooperation all municipal corporations, or other civil divisions of the state, which may be affected thereby. Or it may reject the application entirely or permit another to be filed in lieu thereof, but it shall, however, make a reasonable effort to meet the needs of the applicant, with due regard to the actual or prospective needs and interests of all other municipal corporations and civil divisions of the state affected thereby and the inhabitants thereof. Whenever the commission shall make a decision on any application submitted to it it shall state the same in writing and sign the same and cause its official seal to be affixed there to and file the same, together with all plans, maps, surveys and other papers or records relating thereto in its office. The decision of the commission and its action on any application may be reviewed by certiorari proceedings. The expense of any such hearing and determination by the commission shall be certified by said commission to the person, water-works corporation,

municipal corporation or other civil division of the state making such application and shall be paid by said applicant within thirty days thereafter upon the certificate of the commission to the persons entitled thereto.

§ 4. Said commission shall have power to subpoena and require the attendance in this state of witnesses and the production by them of books and papers pertinent to the investigation and inquiries which it is authorized to make by this act, and to examine them and such public records as it shall require in relation thereto. And for the purposes of the examinations authorized by this act, the commission shall possess all the powers conferred by the legislative law upon a committee of the legislature or by the code of civil procedure upon a board or committee, and may invoke the power of any court of record in the state to compel the attendance and testifying of witnesses and the production. by them of books and papers as aforesaid.

$5. The commission shall have an official seal. The term of each member of the commission shall be five years, except that the members of said commission first appointed shall hold office respectively one for one year, one for two years, one for three years, one for four years and one for five years, and as the term of each commissioner expires or otherwise becomes vacant his successor shall be appointed in the manner hereinbefore provided for the appointment of the original commissioners. The members of the commission shall receive an annual salary of five thousand dollars each and be paid their necessary and reasonable expenses actually incurred in the prosecution of their duties, payable monthly. The commission is hereby authorized and empowered to employ a secretary and such engineers, stenographers, clerks and other subordinates as the duties imposed upon them by this act may require, and to fix and pay the reasonable salaries and expenses of such officers, and of all other subordinates for the purpose of proceedings by them under this act, subject to the approval of the governor.

§ 2. This act shall take effect immediately.

Chap. 416.

AN ACT tc authorize electors of the village of Geneseo to vote upon a proposition for the purchase of a site and the erection thereon and the furnishing of a building for general village and fire department purposes, and to authorize the issue of bonds for such purpose, and to levy a tax therefor.

Became a law, May 11, 1906, 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. At an annual or special election called and held as provided in the charter of the village of Geneseo, being chapter two hundred and thirty-seven of the laws of eighteen hundred and seventy-two and the acts amendatory thereof, there may be submitted to a vote of the electors of such village a resolution authorizing the trustees to issue bonds for the purchase of a site and the erection thereon and the furnishing of a building for general village and fire department purposes, in an amount not to exceed the sum of twenty thousand dollars. Only such persons shall be qualified to vote upon such resolution as are qualified to vote. upon a proposition to raise money by taxation in such village.

§ 2. If such resolution be adopted, the board of trustees shall cause bonds to be issued upon the faith and credit of such village to an amount not to exceed the sum specified in such resolution. Such bonds shall be signed by the president and treasurer of such village, and shall be attested by the clerk under the corporate seal thereof, They shall become due within twenty years from the date of issue, and unless the whole amount of the indebtedness represented thereby is to be paid within five years from their date, they shall be so issued as to provide for the payment of the indebtedness in equal annual instalments, the first of which bhall be payable not more than one year from their date. They shall bear interest at a rate not exceeding five per centum per annum, and shall be negotiated for not less than their par value. They shall be sold on sealed proposals or at public auction upon notice duly published in each of the newspapers printed and published in such village and in such other newspapers as the board of trustees may determine. They shall be consecutively num