Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-01-04

responsibility responsibility which they could no,
sase on on me snpposiion, taai the five Directors APP
pon'eu ~ the Stockholders would sufficiently &c.
gard not only their own Interests bat the interests
oi the Commonwealth. II gentlemen would give |
'he positive assurance that the Directors would no, !
proceed to AL the vacancy OF President until that
iouse was ready 10 join them, then indeed they
might be under some obligation TO concur In the
proposed course but unless they had that po,itiye
assurance o. the suhlec. immediate &C, on was ne
ee.satyX lhey had already instituted grave i.- I,
curry whether the President should be reelected
or no';-two reports, containing various facts and
reasons, were before them, both coming TO tae
same conclusion: an ame ndnient coming TO n |
uiherent conclusion was also before them. He |
thought the House in Possession Of such fact, |
as would enable them decide the auo~rion |
whether the interests OF the State would be pro.
mo,ed by the reelection OF the President. He |
wa, prepared to decide that question now, bu, |
mad no objection 10 its being postponed until |
Monday, II II were then made the order of the |
day. but beyond this he could not CO. unles, he had
positive proof that the whole business would no, be
decided without the action OF the Sate:-all thai
,hey al present had was supposiiion upon this i'm
portant matter: Tor these he was ready i'm
mediatey TO vote on the question.
| MIR DoRMAN said th,t ii he could be persu,ded
that the action Of the Legislature was Immediately
indispensable, he should be prepared to sin there |
until midnight in order that they nigh, come 10 a
vote upon the question; but he thought that If h.
could shew 10 the House that there was no neces,i.
~ TO act precpatcly in the natter that then tbe,o
would not be Jissentcnt voice TO the ptopoy,;on |
OF the gentleman from Prince Wii,m. IL was not
necessary TO net to-day. On Tuesday the Stock
holders me, and elected 6v. directors: subsequent
| ly the Governor appointed -four. These directors
in their session, subsequently elected a Peesident
but not on Tuesdny-ii was not necessary that
they should elect President on that day. nor would
they do so-But in order to render the matter GER
tain, Se was ready TO vote for n resolution asking
the Directors TO stay proceedings until that House
had acted and he would vouch tor il that IL voud
De most cheeifuliy scquiesced in. Now, If this were
the true state Of the case, could any man doubt that
u was their duty to obtain further insight into
this case2 could they pretend to act upon IN.
report which they had not had time TO cons.
CERT tie was rs anxious any man TO pro-
teet the interests OF the State, bu, he was
equally anxious to do strict justice to all parties
IL he were called upon to decide now he would
be taking leap in the dark. Before he was called
upon to decide, he wished look carefully into ali
the facts embodied in the reports and the amand.
E ments-for this there would he ample time They
{ might take up the report Tuesday or if no,
{ then, on Wednesday, and they might decide so as
, to enable the Directors to act on Thursday or Fri
a oy or OF oil events, during the week. There was
pnother reason whsh powerfully urged him 10 pres
: for postponcment-He not satisfdi thai thew
e were taking the night course. This was a s;mnie
resolution of this House; now, he would pu, IL 10
II the Chairman OF the Committee whether IL oueh,
not 10 be joint resolution Of the House md the Sc
mater The resolution to be effective at all ought
,r lie nppTehended IN be joint resolution Now /,
was clearly impossible that both branche, could sc,
+ to-day, aud he trusted therefore, that the House
would unanimously refrse to proceed so as 10 give
= them an opportunity Of having the reports. &c
% printed and placed in their hands
?, i,.'. MAY was one Of those who would have been
ID perfectly willing to have lett the entire subject to IN,
stockholders nj large, without any interference mn
1, the part of the Legislature and would have dors
r SO, Whatever his own private opinion nigh, be Of
the neglect OF the President feeling convinced ,ha
d whatever course they might have adopted the pc.
N cunlary interests OF the Bank the Commonw
=, would not be sacrificed. lie had hish oninion ~
the Presidents integrity, honor and oil the interes
he ielt IN the institution and he should not mos, nm
5, quesuonaby have called the attention of the Lesis
:, ature TO the subject now before them. The Ieei,
\, lture had, however, been pleased TO direc, ober
NJ wise-they had referred 1t TO COMMITTEE of which
l. ho was unfortunately member. The last resolu,ior
D. Teiere &c 10 The committee passed the I4ih ult
h. On the 18th, - The absence OF the Chairman n
"A the Committee Binks, with view of exnadit;co
business, he took the liberty Of rcquettiny the Com
h mttee 10 they sat on Wednesday, THURSDAY
,r ana Fridhy mornings examining witnesses and ey
Al dence-On Friday night the President was tsk.r
=, Sick and had ever since been confined 10 hi, rel
n, dangerously ill-Then came the adjournment ard
No engagements which il out ofhis power 10 AVOID
or put of, prevented him from being IN his placr
until Thursday mornng-from that time until th,,
,. morning the investigation had been gong on Ia
" mentioned these things TO show why the Committee
n had not sooner reported upon the subiect-It was
- impossible TO investigate matters Of this nature and
: nave witnesses before COMMITTEE of eiOhf mr. nina
70 gentlemen and proceed with despatch-tIe had on
e deavored 10 inform himself of all the facts of thi,
case and was therefore prepared TO act and EXPRESS
u his opinion upon 1t; but he knew from the nature
> of things that this coud not be the condition
- oil gent men not members of the committee
" with regard therefore TO this state of things
e the proposition 10 lay the reports and amend.
. ments on the table and 10 have them with the t,s
L mony printed, in order that they might ACT nnder
= standingly in the matter, he could not gainsav re
he thought II in all respect fair and reasonable
, Members spoke Of the Directors meeting on Tues
= day next. Was the word "DirectoIs" erroneouslv
used for "stockhoiders," because IL WINS the Stork
holders who assembled on Tuesday next and than
and there elected Of the directors to administer
the affairs OF the Bank for the ensuing wear. On
: Tuesday the stockholders elected their i've di.
reciors, but the Executive scarcely ever mad. nc
" appointment until the next day add for This
! reason, probably, that unless he waited 10 nx
certain whoa the stockholders had elected he
: might accidentally select the very parties whom
, ihey had eeeIed. He could not for mnn:pn,
J.. V' e'e 'hat n"''; ~ Executive filed up the
vacancies al tho board, the Directors chosen
: by The Stockholders, would meet and elect a
: President. But, IT they would DO so, end the
:, stockholders were determined TO elect Doctor
broekenbroush, they would place him at The head
OF Their ticket and could carry their object. The
vote OF the State could only, after ALL have an eff
feet on the EXECUTIVE. There was some stock held
: by the Board OF Public Works, some by-the James
NVer Company and some by the President of the
> Literary Fund, IN addition the general interests
. OF the : ate. Altogether they might have soma
Tour or I'VE hundred votes but that vote was very far
from beng preponderating one as the Stockhold-
ers would vote IRON $500 TO 3,0O0; il might how.
. ever, perhaps turn the vote. The majority of tho
! Directors ~ere, rs he had explained, appointed by
me STOCKHOLDERS, 50 that the pow CT was not really
IN The han OF The Legislature He thought il yery
PROBABLE, that the vote which he Legislature would
give would rot influence the action OF the Sockhold-
= efs who would do doubtless what thsy believed 10
DC right ihus then the aciion Of the ature was
- not SO vitality important ns was deemed-He tho
: proeabe that the stockholders would adjourn
over Tor day o. 81, but he did not think with those
. VINO supposed that they would remain here for a
week awaiting the action of the Legislature. Ma
: ny OF them were from distance and would not 10
= prepared to do any thing Of the kin1--TL .,,,.
man from kockbrIdsa he'd Sscovsrsd = J.Cs.,s - IL
:. Ysy,".ion which he thinks ought TO bo Joint one
y The resolution was Just such an ore as usually
: follows in matters referred To committee If the
: House concuned with the committee in their re-
port, u would then be Tor the house 10 say what
. course It would adopt to carry il into effect
= tie had never entertained doubt on the setion
!, OF both branches Of the Legislature and he SUP.
y posed the gentleman who introduced the subject
I, would indicate the mode in which the will of the
: Legislature should be accomplished. He thought
the reports might be laid upon the table, the sub
= lect might be acted upon on Tuesday and ended