Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-03-11

:. ;ra,c,,ine want of confidence IN the INSTITUTIONS
from which branches were senen'. r. ,,...
~, Pobr,rsen called for division oil me l"'s
- :. "a take the vote first upon striking Out.
m. n,nf.n 10 strike out prevailed. Mr.. *. hen
rrn, al some length into an argument 10 sho" 'ne
necessity and propfeiy OF an increase oil the oahk-
ms caritaI Of Richmond, and read an amendment,
ubrh he should offer q, proper time.
The debate was continued by Messrs senaoie'
I,,cbo,ne Robertson Nav AID Cruichheld.
Al the suggestion of Mr. Watts, MI Nenahle a.
sr-~d TO leave the blank in his amendment
Thequesiion was taken on Mr.. Neaahrs amend
rncni, and negatlved. =,
Mr. Robertson then offcredhis amendment TO be
inserted IN Lieu Of tho words stricken cut -
AS the same are modified by this act. TO add 10
,brr respceyc espifals and above the increase
authorized by the said act. the Bank oil Virginia
The sum of 100000, and the Farmers BANK OF
Virginia s735, 900; bnt If one only OF SAID banks
should accent as aforesaid, then il shall on, be law
full the Bank So accepting 10 make sueh iufthei
increase 10 it, capital STOCK
This was agreed lo--ayes -. NOES -.
Mr. Xenalle moved to amend ~ repeating ilir
18Th secon Of the act passed March 81 le37. which
requires the Balk Of Ntgia,a aud Fsrmen' Bauh
to convert part OF their sntplu. into capital
This was opposed 10y M. Wiiehef. AID mega
Mr.. Crptcllfeld Offered the folosing amend
ment:
Al the end Of the 7h section. add the words
Andthe Farmers Bank OF Virginia is hereby exon
Grated from establishing branch Of said Bunk at the
town Of Scotts,ile and ,eqafrd establish SAID
branch at the town 81 Charlottesville aud 50 much
of the leaves il oplioua with sad Bank To IS
,ablish the said branch the town Of Srousvli
shall b =. aud The same IS herei repealed"
Mr.. Stuart opposed The establishment OF ih'
branch at Oh flntlesve. and urged reasons to sho"
that Scottsville was the proper roiat.
Mr. Voolfolk was himself n iayoT Of the location
al Charlottesville, but thought bet 10 leave the
matter with the Stockholders, rs IN the act Of 1887
Mr.. Souiha from hIs peculiar position III re
ference tie claims Of Scottssale aud ChsrlolIos
will wished 10 he excused irnm voting.
Mr.. kinnt, thought the selection ought to bt
left The stoek heidefs. Who neic the most oompe
tent to dee.ie The qses'iou.
The aanendneu. oi III. Cmt,hf ID was lhen ne
gsivsd.
Mr.. Nav moved - amend tie 81 Of The anne nd
rnenis ofthe COMMITTEE. by providing that Que ihfd
ef the public deposltes shall be deposed "ith the
Btauch of The exchange B1us 81 Virginia a, Rich
mond il the provisions OF ite act be accepted by the
other Bauks.
This amend rent. afiet some remrrks by Messfs
Robertson, Shefrsid aud MAY. agreed to-
Various consequent amendments were adopted, on
Ihe motions of Arssrs. May AND Robertson.
On motion OF M. NJ y tie following Was added 10
The 5ib srcllon
Aud If the srocLhaldcrs 81 the said Banks o,
either ii them shal atccd the provisions o the sand
act. il shall not be necessary Ter Them In make any
change IN the number nf directors. or the mode oil
appointing them. uHil the new annual meeting oil
The holders therein required for the election
'of dneciois and those no are row Ia Office, or
Who may hereafter he appointed 10 Gll any vacancies.
shall be appointed aud qualified according to the
directions oil abe said act"
On Mr. Robrus30's motion an amendment was
adopted. rendering clear and explicit the pro.
visions OF the 81 seelIop.
Ga MIR. Mlh's muit5n, y section was added rcqni
ring perlodical statements OF the cond,tien of the
Banks.
On motion NJ Nh. NeHsblc d provision was added
providing that The subscription ON The part OF the
State shall be made oul Of the loans now held from
the State. by sad Banks.
Mr.. Watkins desired Ito oifrr further amendments.
hnt declined doing 10 day and at past %
eioeh moEed an adJourument-mhioh WAS carried.