Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1839-11-22
FRIDAY, NOVEMDER 22, 1889.


| Milrnrv Affairs. and after debate by
! Messcrs Bowen, PIotqOui. Cu'ils, Hut-
ccss and TownseN, was lad upon The ta-
bio for tho relief Of Charles and Edward
Eeamv, rerortcd hv Mr. P,prpont. with
Tout nmenhmcrr, who stated The facts m
the casc. hen the bill was amended. road
third time and passed; incorporating the
Burlington Volunteer Engine Company,
rennried bv Mr. Lawrence, read third
time and passed extending tho Charter Of
the Bank of RDiland, called 10 by Mr. Pier
point, the question beng upon The adon
\ Non Of Jhc amendment proposed bv Mr.
l'C6h6troqniring the banks to pay into the
State Trpasuty scmranuunlv, one half
of one per cent Of lh6 amount of capital
paid in. Mr. Plerpolp, objected to the
amendment. unless the mover would con.
sent TO dispense with the ten per cent. Of
profits the Bank was already, By the exist
inc charter required 70 pcy. To this Mr.
| G.. consented, and the bill was amended
accordingly, when Mr. Mcmillan moved to
amend tho bill nv eraSirC al the SECTIONS
of the bill providing for an increase Of the
capital stock. Mr. Cobb, opposed this
privilege of holding stock 10 the present
stock holders-o'hers might desire to hold
stock, md should not, on the principle Of
equal rights he denied the privilege. Mr.
Pterpolnt stated the object of increasing
the capital was to provide for cases sug-
rcs'ed by MIR Cobb. The amendment
proposed by Mr. Mcmillan was adopted.
when Mr. Cobb moved further 10 amend
the bill by cra~jng the 18Th section ofthe
substitute. Opposed By Mr. Mcmillan
supported by Mr. Pjerpolu', and carried,
! Mr. Converse moved to erase the | lth SEC
ton notion sustained. MIR Mcmillan
moved 81 to amend the 9Th section that
the issues at no time exceed twice the
amount of the capital stock paid and of the
fun amount Of the deposl'es. Adopted,
when Mr. Swift moved further to amend
the 9Th section by crasing the section
, requiring SO per cent Of the capital stock
paid IN before any benefit to be derived
from tho act. the whole amount as stated
by Mr. Swift. having already been pad in
Messrs Curtis and Egor'on objected to
The amendment when The question was
taken and carried in the affirmative. Mr.
Foster moveC to amend. by erasng the
provision requiring bonds, and retaining
the provision for mortgages, on improved
land. Opposed by Mr. Egerron, supported
by Mr. Foster, who SAID bondsmcn might
be good to day and good for nothing AT a
future day-seccrity on Improved land,
was always good. He preferred certain
to imaginary security. Mr. Converse also
supported The amendment, and illustrated
the insecurity of boods. as introduced into
, the bill by the substitute Of Mr. Mcmillan.
Referring TO the settlement OF an es'ate
Mr. T.. SAID bonlsman, worth his tens o
thousands dles-no failure Of the bank. nc
failure of lis charter has occu-red-,h he
estate is settled at the Probate Office, &C
cord,ng to the provisions of law the pro
j perry rlghlfnily divided among the heirs
now comes the failure Of the bank Wha1
3 are your bonds in that case worth? Mo-
a fraction. The heirs would no, be holder
Y and they would consider themselves q:
$ dong God service in resisting all liability
{ upon the bonds, Mr. G. spoke at length
q 10 presenting his views of the nsecuru,
l.. ofbonds. Mr. Mcmillan replied to Mr. G
. and SAID the insecurity of bonds was pro
. vdeG for IN other sections u: the bill. Thu
{ sections were read by the chat. when NJ
Converse finished his remarks, and tn,
l amendment, offered by Mr. Foster, wa
= adopted. Mr. Swift, then proposed al
G amendment. relating to the bonds, OF di
n rec'ors requiring the execution of bonds
secured by residents at this state not stock
. holders, or by mortgage Mr. Pierpoin
said he had no objection to the propose,
Y amendment, and II was adopted unanimous
c ly. Adj.
4 HOUSE.
Prayer bv Rev. T.. Smith
Mcssrs Huntington and Hazard ha
leave Of absence after tomorrow.
@ Peiitions.-Ot Jas. Dean and others G
$ Burlington, referred to com. on Mlltar
|. Affairs.
Il Bids From the Senate. incorporatin
8 Savings Bank at Bra'tleboro' referred t
to com. on Banks. BY MIR Ncedham i
addition TO the hs,irg acts, referred to tn
Judiciary Committee. BY Mr. Chadler, ;
a additional to several acts for the suppo,
d of the gospel, referred to to the Judlciar
G Committee,
, Reports Of COMMITTEES, BY Judicior
!" COMMITTEE, agalns, bll. appointing col
It eclor in Stow, and it was dismissed b
o com. on Banks, bill extending charter c
bank Of Montpelier, one year, ordered t
a cd reading. By General COMMITTEE
n against petition on silk manufacture, an
j. the petitioner had leave TO withdraw. 3
committee on Military Affairs, bill to fnr
u nlsh field piece 10 the first artillery com
D. l4,h regiment. which was ordered to a 3
d reading bill to provide for payment TO
= certain military services on the norther
y frontier m 1889, which was ordered to
re third reading. BY committee on road
n and canals, bII relating to bridges and
10 was dismissed bill relating to highway
d ordered to n Sd reading that it is mex
m pedlent to make counties liable for expeu
- ses Of certain roads by csm. on Mllar
Affars that M fnrlhnr lnnslaiinn is nncns