Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1830-02-11

Ter, aireeiIy-snd TO give, a. once, 10 acaae
,ois. and Colleges, the bonus in qnesdon-anu
no, IN pursue the ia direct course oil tue a''
anon, the Farmer Bank. He wished 10 n.
70. directly, that the object he nsd spe1heu.'
wa. more important than giving 1t 10 'he '"'
for Iniernai improvement
Mr.. Rutherford advocated Mr.. himorongh
amendment. L,.
On taking the question, Mr.. k'mofousn
amendment was lost without DIVISION.
lhe question Then REQUIRED ON Mr.. bryce
amendment. ,ooo
On Mr. Wilson's suggestion, the year 1900
was stricken out and lett IN bank :,
Mr.. Harvie opposed the Proposition WI"
great animal tla' ms was =
s,,oke fo, breaking down the Fund for Internal
Imnroyement tint The Legislature had un''
formly set It's face against THIS attempt.
Mr.. Bryce reried, and denied tina, MS Cd
Jet was To break down The Fund Tor ih'er"a'
lmproyenfn, Il was true that this Fund was
better o ganized than II IS but ne hao NJ
wish 10 injure ii.-His Constituents msh'
ask him. why he did nj put this Bonus, where
/, nigh DO some good, aud no, ihro" 'n'o
fund, the operations of which they DID moi I'M
delstan aud only perhaps, TO repair 'he 'n@
management of some ignorant agent.
After iuitheI discussion, Mr. Niiiiams ~
Harrison, proposed the following amendment
TO add The words For the endowment oil
College at snme place West of the Allegheny
mountains
He commended tina, the citizens West Of the
Allegheny were IN wan, OF ,ucn mn lnsihutIon
and tina, they had strong claims upon the pat
,ons of the State-that many of the citizens OF
the West with The most promising taents, had
moi the means of going 10 an Eastern University ;
but il brought within a striking dis ance, would
profit by such an Institution. lie therefore
hoped the member from Goochland would ac-
cept his smeDdment.
The proposition of Mr. Williams was re
jected without d.ision-and then the q1esti57
REQUIRED on MI. Bfyc amendment aud carried
ayes %, noes "a.
The 4ih section provided, that seven Di
reciors shall hereafter be sutt Gent 10 conslI.
ute Board al the said Bank, aud the several
Offices Of Discount aud Delo,it, Tor the ord
nary transaction of business, aad making OF dis
counts
Some conversation ensued upon this sectlon
between Messrs Bryce and Haroie--lhe
former SAYING thai il the number oil Directors
was reduced TO les, than l5 he might agree -
The section but moi that less than a mJoIliy
ofthe Directors should act-the latter assisne
the rea>ons Tor The section, ON account of III
difficulty ofgetiag quorum OF the Directors
together TO act.
Mr.. Yancey moved to strike out the whole sec
ton, which motion failed.
Aud then the word - seven" was struck oui
And il was filled with the words " NM jorIy
OF the"
The 9th section ran Be il further enacted
That the said Bank nj Richmond. shall here
alt ha all Il, bill n, nd nnta
that have nal more than four months TO run.
MI. Yancev moved TO extend the same pro-
vision TO /" Inc Farmers Bank at The same
place"
Mr.. Rlyes Of Campbell moved 10 add. " and
the several offices OF Discount and Deposn OF
either"
On taking the question on Mr.. Riyes' ,
amendment IL was carried, ayes ", noes a.
Tha question then required on the ajoptioh of
the amendment as amended.
NJ. Robertson stated, that however kind
gentlemen might be in extending this privilege
10 the Farmers' Bank, yet il WIS DOT asked by
that Bank-they did not with any aItera ion of
the charter in that respeet.-He moved there.
lore, tina, The Farmers Bank mig be stricken
from The amendment
On taking the question: +" The Farm. RS
hanF, was then stricken out-and he amend
men' extending the privilege to tee Branches
OF Inc Bank OF virginia. was then 5pied.
The 9th section Prohibits the pres idenf or.
Cashier from dealing in stocks or from acting
as Proxy To- any sloekholder at any meeting of
the stockholders
Mr. Riyes Of c. proposed 10 add 4 or an,
officer OF the Bank" from acting a. Prox
Mr.. Rves's amendment was acc, pfed-an6
then Mr. Old moved 10 strike out the whole
provision.
Mr. Rutherford opposed the amendnen,
upon me ground that it might be safely irus I'd
10 Tue STOCKHOLDERS, themselves, TO fix the "A.
mount oil the officers salaries
Mr. Old proposition TO strike out the clause
was rejected
Mr.. hIyes proposed still farther TO amend
inc oth section by adding" Nor shall the Presi.
'eh, 'hereni, receive salary for his services ex.
ceehing S2,oOo per annum, nor a presidanl for
once OF Discount aud Deposit salary for hi,
services. exceeding $500 per annum"
urfher discussion ensued npon this question
tor which we have no space 10 spar.l
when Mr., Bryce moved the following nv
way of substitute for Mr. Rivess
| thinking that with such an Arrangement the
sainay of the Officers might be safely left IN
me meeting of the Stockholders H. On O.
very question AT any meeting of the StockhoId
ers of said Bank, the Treasurer of thi, Com.
monwealth for the time being shall have a ripb,
10 vote IN proportion TO the number of shapec
nFlh by the State as an indiv dual stockhoder
holding the same number of Saarps.
A'ler some further remarks from olher gen
liemen, motion was made for the Como,,.
zee TO Use IN consequence of the Iatene.s of the
hour-wh'ch was agreed TO and the Comm,,tee
rose accordingly.
IN motion of MIR, Barnes of Essex the House
Adjourned. ,.''''
TWENTY FIRST CONGRESS-.