Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-03-28
EVENING SESSION.

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sad amendment, and the vote stood. ayes -, noe
IS. So the House agreed TO tho Senate's 6rs
amendment
After some conversation among members in re
gard 10 the vote Just taken,
ri Mr. Moore moved reconsideration Of the vote
which the House agreed 10. Ayes ca, noes 81.
| Inc question then REQUIRED upon disegreeins Il
the Senate's LIST amendment. and the vote beins
taken thereupon, stood ayes so, noes Al.
80 the said amendment was disagreed 10.
, The question was then put on agreeing 10 the
Senate's I'd amendment, being to strike out the stf
section requiring the Banks to eurtnil, &c.
MIR HOcman said that, the State was n Goui
borrowing from the Banks he was willing that this
amendment should be agreed TO.
MIR Rivcs was opposed to this amendment, and
he hoped the House would disagree TO it.
MIR Taylor of N. II. said that he opposed TO
striking out the section referred to- IL must be oh
r'~"s TO all that there was to be pressure upon
ne peopIe, eecasioned by the action OF the Legs
ure IN reference to 'hs 6il-und he felt that it was
as President and Directors, that they should no,
alone be held responsible for the pressure occasion
ed mainly by the action Of the Legislature in regard
TO other portions OF the Bill which would necessari
ly occasion curtail, and consequent inconvenience.
We desired, therefore, that what the Legislature
would force TO occur, should be held responsible
for creating he would vote osco dinghy.
| This amendment was thsn agreed to.
The question was then put upon agreeing with
the Senae's Sd amendment, being TO strike out that
part OF the 9th section in relation to the Directors.
and insert in lieu thereof that the Directors the
principal or Mother Bank shall not be allowed 10
become indebted to the said Bank, at any time, in
greater sum than forty hye thousand dollars, and
the Directors Of no branch OF any Bark shall be al
lowed TO become indebted 10 the said Bank in a
greater than thirty hve thousand dollars in the
aggregate; and no President, Director, or Agent OF
any Raj! Road or Canal, or Mining or Mnnufactu-
ring Company, auy Savings Bank, shall be here.
after eligible MS a Director Of any Bank
The said am indmeut amended in various
I and reed q " n
or Of any Bank or branch thereof shall lie allowed
10 b'eome Indebted as principal TO the said B,rk
or branch, at any time, IN greater suIn than FIVE
thousand dollars, aud no Prescenf or Director Of
any Savings Sank, or General Asert Of any Manu-.
featuring or Mining Company, shall be hereafter
elisiblt as q Director OF ny Bank: Provided how.
ever, that this provision thall not apply TIL after
the next annual meeting Of the stockholders for the
election OF Directors nor shall the said provision
apply to the Exchange Bunk OF Virginia until the
election in May, eighteen hundred and forty three
The 4lh amendment Of the Senate proposed TO
strike out the Sih ard Oh sections.
MIR Edsneton moved to amend this amendment,
by the insertion OF the two following sections:
BE further enacted, That the notes or bills of
the Northwestern b INK of Virginia and ofthe MGR
chants and Mechanics Bank Ct Wheeling aud their
several branches, shall hereafter be rcc-yabIe in
payment by the sherifs and other collectors of IN.
public revnue, of all public dues to this Common.
wealth, IN the following counties: that is TO saw,
Brooke, Ohio, Marshall, Tyler, Wood. jackson,
Marion. Harrison, Lewis, BTaxton, Fayeue and
Nicholas, and in other county or counties within
this Commonwealth.
=. Had be IL further Tnaeisd That il shall be the
duty OF the Treasurer OF the Commonwealth, quar-
terIy IN each year. whensoever the no,eP or bills of
ssid Banks and their branches or sker Of them shall
be on each quarter day Of value less than par with
those OF the deposit banks al Richmond TO notify the
Cashiers al said banks and their branches or ms
many OF them whose notes or bills may be az such
time or times Of deprecated value at Richmond as
aforesaid, OF the amount OF the or bills Of such
bank or banks or their said branch or branches. OF
the amount OF It's or their notes or bills respectively
that may that day remain on deposit 10 the credit
OF the Treasurer OF the Commonwealth; and Il shall
be the duty OF the said bank banks, and their
SAID branch or branches, and they are hereby re-
CURED, within thirty days after having received
such notice, 10 pay, or so TO provide, that any bal
ance or balances which may remain against them
respectively on deposit on each quarter day as
aforesaid, TO the credit OF the Treasurer shall he
paid at the City Of Richmond IN other money o-
funds OF par value with the notes or bills Of The de-
post banks in said city.
MIR L. supported his proposition by a stirring
speech-to which MIR Holleman made short re-
spouse.
The question then put upon the adop,ion Of
Mr. Els amendment 10 the amendment of the Sc
nate and decided in the Affirmative bv = vote
Ayes 81, noes 81.
The 5th and 9Th amendments OF the Senate were
then agreed o-the effect Of which is 10 change the
time OF the general meeting OF the stockholders of
the Farmers Bank, 10 the Wednesday after the Sc
eond Monday in January in each year.
The question was then put upon agreeing with
the Senate in their 9Th amendment, which is as fol.
lows: Strike out The l2h section, and insert
"Be Il further enacted, That the banks Of this
Commonwealth shall not, while in a state Of sus
pension, sell or dispose OF any draft or bill OF ex
change, commonly called specie funds OF a pfemi-
UNI Of more than one half of one per cent beyond
the cost Of such funds 10 the bank"
This amendment was opposed by Mr. Wallace of
F., and supported by Mr. Mellhancy-and
The vote upon it stood-ayes 50, noes a.
So the House agreed 10 the anne ndment
The 9Th amendment OF the Senate proposes 10
insert the following after the 18th section:
".And BE ii further enoeeI, That the directors Of
the several banks of this Commonwealth who are
now IN office, and sucn as shall be hereafter pnoint
ed, shall hold their Offices until the NEXT annual
meeting of the stockholders, and until their ,ucce,
sors are appointed and notified OF such aprontnent.
provided such notification shall be made bv tbo
cashier OF the bank without delay after the ppoint.
ment."
Mr. Crutehfeld moved to amend the Senate,
amendment, by the addition Of the following:
'.fHd be II further enacted, That so much Of the
7th section Of the net passed March 22d, 1897 en-.
titled AN act establishing general regulations for the
Incorporation Of Banks as provides that the hmm.
OF one fourth per centum paid out OF each semi
annual dividend upon the stock OF the reversI
banks Of this Commonwealth shsll be paid by ere
ating additional stock 10 that amount in the name
OF the Commonwealth for the benefit Of the fund
Tor Internal improvement be, and the same is here
by repealed; and hereafter, the said bonus as in
said section provided for, INCLUDING the bonus on
the stock as provided in the l2lh section OF the act
entitled an act increasing the banking capital Of the
Commonwealth passed March 25th 1897 shall
be paid semi annually Ivy the said Banks into the
Treasury Of this Commonwealth upon the warren,
Of the second Auditor 70 be applied in pa vnent Of
interest on the public debt erected for internal i'm
provement."
The question being pm, upon tho adoption Of said
amendment TO the Scnate's amendment was deciJ-
cd IN the nflimaiive-ayes 81. noes 40.
Mr. VERIFY called the previous question.
MIR Taylor of n p. begged the gentleman from
Northampton 10 withdraw his call for the nrevious
question, TO enable him TO offer the following ns
further amendment TO the last amendment of tho
SENATE: " N'o
PROVIDED, however, that the provisions OF this
section shall not apply to the Exchange Bank n
virginia I'LL the amount OF the capital stock for
which the State agreed 10 Subscribe, shall have
been made Up.
Mr. VERIFY did not withdraw the call. bowevsr,
and the main question was ordered-and then
The House agreed 10 the Senate's amendment an
ameudod-ayes 50, noes 80.
On motion Of Mr. Hunter,
The House adjourned.
From mo stanton Spectator
DISTRICT COURT or THE u. STATES.
quesion was raised, last week before Judge
PennYbaoker, whether ar individual owing debts
N hduciary character could toke the benefit Of the
|nrw in - 81. l.