The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1837-03-03

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isriHs siaciamaii sd cAslssis@ Raj Real
FeaPzas
Sm:-I respectfully report IN You for
de information Of The stockholders Of The
company over whom ynu preside. The re
sulG Of nv mission entrusted 70 me under
their resolutions. adopted a Columbia on
The 20lh necemher last.
The chief object Of this mission was 10
procure The cooperation Of the State oil
Nanh Carolina in the grant oi Banking
Privileges 20 the Stockholders. Just en-
acted b. the Legislature If this State
This grant expressly required the con-
eurrence Of The Stale Of North Carolina.
and as IL was deemed essential 20 The
success Of ,he Rail Road. lost no time
in repairing 10 Ralsigh where the Legs
lalure of North Carolina was then m ses
sion. The subject VAS Immediately sub
miIled to llirlr consideration. and expls-
nations thereon were received with great
courtesy and attention. The puhlie jour
nails have already detailed The subsequent
proceedings Of The Legislature. They
eventually passed an act granting the
Bank Charter. in substantially the same
terms as il passed the Legislature Of
Soslh Carolina. The amendments whirh
they have added, are herewith submitted.
and will presently be analysed. They
will be found 10 be- almost. il NOT wholly
immaIerial 20 the interests OF The Stock
holders.
II Is difficult for any one on the spot to
conceive adequately the embarrsssmenIs
2 and opposition which this measure en-
J couniered At every step. | sll'tle 'aIhem
I now merely 10 show the extent Of obli-
E CATION under which we all are to the
= friends oi the enterprise in North Ca
D rnlIna. Il is entirely owing to their zeal
: and ability that snscess VAS eventually
achieved. Fixing steady eye upon the
e advantages TO their country, which their
seglciiy saw in this measure, they sus
= tanned il throughout with frmness and
!. ardnnr. To their zeal and activity. par.
d iicularly Gov. Swain. the distinguished
o Chsmpinn Of Internal Improvements 10
North Carolina. and the Chief Delegste
$ from that State 10 the Knoxville Con.
Yeniion. most Of what has been obtained
e Is due. The Representatives from Ihs
Western Counties. especially Messrs
n Carson. Murehead, Hoke and Dnrson
): have entitled their section to most isv0'
!, rable consideration in the location Of I
route. by their strenuous and united sup
: port: and il | may be permitted TO pay :
just tribute 10 disin,erested and Independ'
VI ent public virtue. would beg leave Il
!, acknowledge the zeal and ability will
;, which Mr.. Speaker WsddeIl and Mr.
}, Bryan Of The Senate. and Messrs Ora
E. ham and Moore If the House lent lheI
b, effnrts to the cause. The final success
h Of This great work will reap for lhes
gentlemen tic brilliant reward Of hsviuI
created new era IN the history Of thel
p Country.
u The following are the amendment
pr whirh have been added To the Charter b,
- the Legislature ui North Carolina:
D After the Rail Road shall be complet
n ed the Bank Is Ia issue no Notes OF les
20 denomnanon Than ten dollars.
ly 2. The Branch in North Carolina
ut 10 be Ioraied West Of the Catswba Rive
:. and lis Capital is moi to exceed one mi
y hon of dollars. This location would i
I'd all probability have been adopted BY III
OF Company as a matter Of course; and ih
ch amount of capital il is conceived will b
n found fully adequate to all the purpose
er Of Branch in North Carolina; especial
or ly when it Is considered that the Branc
L. Of the United States Bank formerly Ia
Gated in South Carolina. had capiti
OF but one half a million more. II wa
III thought too that If another branch or
he larger capital should hereafter be foun
ii. advantageous to the Stockholders. The We
~ increase Of business and progress ,
mr. the Railroad, which would make 1t al
in vantagenus to them. would induce III
no people Of North Carolina TO ask for Ii
OF change.
RE 8. The State reserves the right of il
no ,erposing at tax not exceeding per cen
ms upon the capital employed in North G.;
pm rolins; but no tax is to be LAID until n
Road is finished, and until SIX per cen
lot per annum is realized BY the Stnckholde
let upon their whole investIons for the emil
as period during which they may have bee
wo ont Of the use Of their money. IN
ce. amendment, was necessary to preser,
pn. equality among The Banks in North G,
is roiIna. They all pay an annual tax Of
9TH per cent. and i, was though, tina, aft
ent the Stockholders had been made who
The and the Road finished, this Bank shou
me stand upon the same footing with the re,
Ike For the same reason the 26ih section
the the Charter (which makes the Notes
led tender a, State Treasury was slrick,
Ter. out. there being no such clause in 9th
at. Bank Charters.
ose CounterfeiIing the Notes Of d
ms / Rank ip ada = o...na .nl .,b,no, A. =,