Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1840-02-08

IN have been forfeited under the provisions Of
- aci. may institute suit for the same before any
'...h.,oal Of competent jurisdiction against any OF
~, - the stockholders oliho same who are here
:" Re liable IN their individual as well as cor
ss,,,e capacity to the amount Of STOCK respee'
- owned OF subscribed.
G.. :. Be Il further sRacisd. That no hank
IN Hereafter purchase or hold or tSai N any
sHa' =. nd chaltels, lands and tenemen'S, except
- securing Of debts created m The legitimate
"1,.;s. Of its powers, or for supplying The ne
.A 80. banking houses, fixtures, and books or
e. ,hs disposal Of such property as they now hold
nor ,baIl they mike advances upon COTTON or any
a,h., nroduci or Article Of merchandise. Pro-
.;J,J That they may lake mortgages upon real
estate in securing payment Of debts already que
them. whenever they make renewals oil notes tor
more than one year, which they are hereby author
ized to do.
Sec. .. Rel friltr enacted, That h"reaf.
Ter !, shall not he lawful for any bank in this State
10 issue any note or bill for circulation or m form
intended for circulation, not payable on demand
and 70 bank in this State shall allow the aggre-
gate amount Of discounts either on bills oil en-
change, business paper or accommodation notes,
TO exceed the capital stock mora than one third,
under penalty Of forfeiture Of charter.
Sec. 10. BE i further enacted That no m
dividual or firm shall be permitted 10 become IN
debted or liable, directly or indirectly, TO any
bank, in a greater sum than twenty thousand dol
lars.
Sec. II. BE IL further en0cted, That every
bank in this State, shall. quarterly, commencing
on the first Of April next, forward 10 the Cover
nor of the State general statement of its situa-
ton, detailing every general account which
statement shall be attested by the signature and
oath Of the cashier of each bank respectively i,
and each bank shall also cause n copy of such
statement to be published in some newspaper in
the State at their own expense.
Sec II. Be il further enacted. That on the
trial of any suit, where bank or corporation is
the plaintiff or original payee, the defendant or
defendants may prove the fraudulent or illegal or
ganzation Of said bank or corporation, or any Vi
citation Of charter in said organization.
Sec 10. BE IL further enacted. That in all
cases where bank or corporation is Plaintiff or
original payee, the court, on notion or the clerk,
in vacation, shall award and issue to any defend
nit n subpRna, duces tecum. for any bank, record
or paper of any kind or description wha,so' yer
Of SAID bank or corporation, and if said bank or
corporation failto produce in court such book, re-
cord o, paper, the cause shall stand continued or
dismissed at the discretion Of the court.
Sec. ii. BE il further enacted Thut the d..
rectors Of all the banks in this State shall be lia.
BILE in their person and properly Cor my violation
r,c thar rhortoro ~ oc AZ.
Sec IS. Be il further enacted. Tha, the
commissioners to be appointed by the Governor,
in accordance with The provisions Of the third sec.
tioaof this act shall each receive salary equal
10 that which the cashier Of the bank, whose eff.
fects they are required to manage. receives md
sad salaries shall be paid ont Of the funds of The
bank.
Sec. Is. .4nd bs il furiLer enacted, That
nothing in this act shall he so construed as to re-
late TO, or in any manner, affect the Union Bank.
Mr. Talbert's bill to lax Brokers came up--reltr-
red to the committee ON the Judiciary. Quite an
interesting debate arose upon the subject which was
participated in by Bodley, Bcsancon, Roberts and
Norris.
A bill amending an act, relative TO crimes and
punishments was engrossed for third reading.
The bill for the relief Of Butterworih and Giant
came up. M. Evans Of Lowndce perpeirated tn,
greatest breach Of deCorum ever committed BY NOR
taiman-he made speech Of four and half min
uIcs long in favor of the blI--it was his nader
speech. ! cann,t desist from taking notice at SOM
length Of this wonderful production-it will re
dound more TO the credit OF old Lowndes, than an,
act which has come within the perview of my know
edge during this SesSion.-At the end Of the frs
minute the speaker seemed inviooratcd with ne,
exsence-he cas-, off The shackles of earthly mai
ter, and mounted the car of imprisoned eloquenct
and noaied aloil on the aerial wings Of Queen Nal
gradually descending to Garth til he discovered III
growing dcpravig and RIGHTEOUSNESS of the age
became Disguised and took his seat. Ne much n
minded us of certain Knight, who had served
mistress seven years, during which time he slew d
ven giants, aided in taking seven castes deeaie
seven necromancers, became disguised with his La
fair, and the world, buried his armour and all i
panoply Of war seven fa,homs beneath the sod, al
retired shocked at the vilIanies Of man to brood ov
the wrongs Of natldns. We mistake if MI
n does not give up the IDOL oil hs hearts wOrShlp-v
: do not think him oie Of those, who with fawnir
submission, will recommend his claims 10 the 20,
: ers that be-his vanity has blinded hum for the tint
l. but there rs an inmate principle in man, homes, ma
: that will not brook the degenerate twisting and III
: Mug Of the wing leaders, and it is this principle III
will safely conduct those who have found ihemselv
y in the mre 10 the lock Of ages, which stands u
q shaken through every diversity of time.
!. The bdI Incorporating the Female College at
!. luuibus Fassed and is now law.
n The hous, resolved itself into the Committee
" the whole on several bills which lay on the Spe
= kers desk. The first for consideration was one
J lowing the Commissioners who opened the books
the Union Bank, the sum OF So per diem. A n,
c ton war made to reduce 1t 10 So, and then 10 8
and finally tnS. The bill was laid on the table
further consideration at some future D,rod