Alexandria gazette & daily advertiser. [volume] (Alexandria [Va.]) 1817-1822, 1822-03-23

.sas N'Nair bill granting to the cor
sor.tien of the city of Mobile, in the
,.ts of Alabama, certain lots of ground
the atty of Mobile; bill granting a
,.,ct of land to William Conner and
e,;fe and to their children; were sever
ur twice read and committed.
An sngrosssd bill granting certain
..;yileges to steam ships and vessels
.wncd by Incorporated companies, was
lad third tine and passed, and sent
;. tbs senate for concurrence
ORDERS OF THE DAY.
n. motion of Mr. Smith, of Md. the
,,uss resolved itself into committee
ssthe whole On the stateof the Union on
-, unfinished business of Thursday
,..t on the bill authorizing the Secre-
NV of the Treasury to exchange
.,ock bearing an interest Of five per
mt. for certain stocks bearing an in
arrest of six per csns.--Mr. Lathrop in
che shair,
The question REQUIRED upon the mo-
.;.p Of Mr.. Baldwin to amend the first
.sctiOn Of the bill. by extending the pro,
,;.ious of the bill so as to include also
,wo millions of six per cent stock crea-
I'D by the loan of 1890
The question being taken on this mo-
,isn fer amendment, it was Regatiyed
sithsut division.
MIR. Cambrslsng moved to amend the
hill by striking out the whole of the
! first section, after the enacting clause.
and to insert in lieu thereof the fol-
loving
THAT the Secretary of the Treasury
shall be, and ne is hereby, authorised to
popose an issue of stock, to an amount
not exceeding thirty millions Of dollars,
hearing an interest OF five per centum per
apnum, in exchange for any of the stock
heretofore issued, bearing an interest of
six per csntum per annum and oil the stock
h,reiore issued bearing an interest OF
seven per centum per snnum; for which
4 purpose, books shall be opened at the trea-
mry of the u. States, and at the several
Loan Offices, on the first day Of April,
1899, or as sooa thereafter as may be prac-
tc,ble, to continue open until the first
d,y of July next thereafter for such parts
Of the aforementioned six and seven per
cent. stocS, as shall on the day of sub
rription, stand on the books OF the Trea-
ury, and on those of the several Loan Of
ices respectively; and the holder. of the
aforementioned stocks who may become
{ Subscribers in the manner aforesaid, shall
eYerally specify The terms upon which
they propose 70 effect the exchange hereby
| auhOriEsd and the Secretary of the
| Treasury shall be. and he is hereby au-
hOrizad to accept such subscriptions Of
the aforementioned stscks as may be SUBJ
ssrhsd and offered, upon terms which he
may deem advantageous TO the United
States; which subscriptions, accepted in
pursuance OF this authority, shall be effect
i ed by transfer to the United States, in
The manner provided by law for such
transfers, of the credit or credits standing
on The said books; by surrender OF the
certificates Of the stock so subscribed; and
BY the payment into the Treasury OF the
Unite States of such premium, II there b.
any as may nc offered in consideration oil
] he exchange thus effected"
Hereupen arose debate. which cent?
aued until the hour OF adjournment-ot
| which sketch will be hereafter given
The committee rose without finally act
ing on the subject, and reported progress;
and
The House adjourned.