The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1839-11-06
The Aei amending the charter Of Rhode Is-

Mr. Il 4 Hazard moved TO amend the Az
BY making the private properly of stockholder
c holden for payment OF debts.
MIR Randotph said IL would do no good. bu
hun men wonld not invest their money il
banks il owning one share should make then
; liable to all the debts Of the banks: il was On
just and l'npoIiic. If there was sny fraud rh,
directors were liable; but il the widows ard or
phans put thsrmoney into banks, they would b,
made liable. There Was no other State whcr,
private property was holden, and it neveroueh
10 be in any bank charter
Mr. II \ Hazard said the gentleman had in
serted provision making the hank liable TO IA.
ture acts Of the Assembly. bnt in fact the AS.
srmbly was governed by the banks gentlemen
were iegI.la'Ioe for certain class of people
he should call for the yeas and nays.
Mr. Rdndofph asked what earthly danger
there was that the bill holders would suffer
there had been several banks here had failed.
but the bull holders did no, lose any thing He
stood here 10 protect The banks; the banks
were the most respectable class Of the eommu-
nifty. and he would protect them
Mr. T 7 Hazard asked who did lose by the
banks did not The people lose by IN. Burrl-
vile bank did they not lose by the Gloncrs-
tet bank lie was not opposed TO reasona-
BILE credit system nor 10 the banks, but he want
ed to protect all parties.
! Mr. RdndOtph argued that the banks were a.
bnndanily solvent aud there was no danger TO
bill holders IL was the stock khoders who we're
IN danger.
Mr. Spencer said he had never found any
charter where stockholders we're liable unless
there was fraud aud he was opposed to max
ing Them liable he wanted that kind Of money
and he Did moi wish to discourage the class Of
people who wished to invest little money. La
hle for the debts.
Mr. + + Hazard did wish to discourage peo-
pie from Investing money in banks; were over
run with banks now.
The House was called and the amendment
was lost 2l 10 49,
! Mr. Il Hazard offered resolution instruct
! ing the COMMITTEE on the Judiciary be request
ed TO report what ameudme 0ts are necessary 10
the act relating TO Water mills and Flowage.
and the act relating TO Justices Courts in the
Town of Newport, and the act authorizing
review in Civil Actions.
Peiltioo of n. Y. b. ~ p. X. r. Co. for
liberty 10 build Steamboats,. WAS received.
The Senate were then invited to be present
AT the trial OF The docket of private Petitions.
Adjourned to O'clock Friday.
Friday, November |. 1899
Perition Of Tobias S. Ross. calling on the
General Assembly for divers things. was receiv
ed OF Joseph Smith ioi remission of fine for
non alIenfance as Juryman, granted.
communication was iccrised from the
counsel IN the case between this State and Mas /.
Sachusetts. stating that he had received notice
from the attorney of Massachusetts that they
h nj elected not to withdraw their appearance.
Mr. HoLdeR called mp the resolution for rom
inIfee To revise and digest rhe laws oithis State; 4
the committee ordered to consist of three.
Secretary Bowen and William r. Staples were
chosen. aud Thomas W. Dorr. Thomas Rivers.
and Albert {. Greene were nominated, and the
members baloued. Mr. Dou had 26 votes;
Mr. Rivers had votes. and Mr. Greene had SO /
votes, and was the, efore elected.
Petition of b. p. IL n. Y. X. r. Co. for
leave to build steamboats,. was taken up aud the
petition granted and the vote attempted 10 be !
passed when
Mr. r.. r. Potter stated this act had not been (
printed for the use ofthc meubets-and that the |
members were taken bv surprise. On motion
OF Mr. h. Hazard the subject was postponed ill |
January.
Report Of the Warden Of the Rhode Island |
Penitentiary was received and communicated to !
the Senate, aud the House adjourned to o !
clock.
AFTERNooN.-Mr SlOcum presented a bill au
thorlzIne Military Officers who have not taken
their engagements 10 take their engagements
within 80 days; read twice and passed.
Petition of Elizabeth Clark. guardian, for
sale OF real estate, granted.
A Resolution was passed appointing Mr.
Robbins, a committee to draft resolution for
the appointment OF day Of Thanksgiving.
Petition OF William Raw for leave 10 hold {
real estate, granted; of William Clark. for stay
OF proceedings. continued with an order of no
tice; Of 5. Kenyon. for divorce, continued with |
order OF notice.
The Committee to whom was referred the |
petition of the Rhode Island Historical Society,
reported resolution that the Semi Centeni,l
Anniversary be celebrated at Newport. at the
juno session: the resolution passed. and com
miiiee OF , from each county was appointed.
Mr. L. II. Hazard called up the bill author
iziug free banking offered at the last session.
He merely wsh.d to call II up to refer it tn
TO examine the suble, fully. and re- \
port next session: aud the bill was referred 10 I
I-ssrs T. T. Hazard, Shippee. Holden. Bow
en, Aldrch.
The Bank Commissioners reported that they
had not received re,urns from all the banks,
but they had returns from forty banks 10 all. in
rludlng Newport and Providence; on the 18th
October, IN these forty banks. the amount OF
capital OF the same forty banks at that date.
SS,3i5, $40 90
mount Of bills aud notes paya-
BILE out Of the Safe held BY them 4,272, $40 So
mount OF bills of banks out Of the
State no, paying specie. 1882 so
mount of bills aud notes discount 4
cd payable in Philadelphia. l.l43.3 IS .,
Do do do Baltimore, 3O3, ,S35 50 4,
DO do do Elsew here 10 non !
specie paying places, 2,605 9l
Balances due 10th October from q
non specie paying banks. sl,lO9 0s {
Bills and notes discounted and held Ii
payable in New York. 2,o24.l7s 55 4
. ills aud notes discounted and held
payable in Bosten, 795.739 o. {
Bills and notes discounted elsewhere
IN specie paying places. 7,45l 2S {
The amount renewed pay able out Of II
the State not known with accuracy