Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1843-02-21
THE STANDARD.
GEORGETOWN, FEBRUARY 81, ls4s.
LEGISLATIVE.

law after being signed by the Speakers.
This bill is an amendment 10 "Latham's
Law" passed last winter. 1t repeals the
18th, 10th, 2lst, 22d, 25th, 29lh, and
3lst sections Of that law, and onacts 20
new sectio ms. The stockholders are
made liable in their individual and pri.
vate capacity for every valid claim a.
ganst the bank Of which they are stock
holders, except in case where depositors
and the bank otherwise agree in relation
to the liability for their deposites. When
it becomes necessary 10 settle the affairs
of any bank, Receivers are appointed,
whose duty it shall be, in redeeming the
circulating notes of such banks, first 10
exhaust the assets, and if those be ia
sufficient, then TO proceed by scire facias
against the directors to make up such de-
fciency; and in case the execution so is
sued shall be returned unsatisfied, in
whole or in part, for want of property be
ing found sufficient to satisfy the same,
the Receivers are to proceed in like man
ner against the stockholders. Provided,
that in case any director or stockholder
shall pay TO the Receivers his proportion
al share of the judgment, according to
the amount Of his stock, before execution
issue, then execution shall not be. issued
in the irst instance against such director
or stOckholder, paying his pro oportional
share as aforesaid, of the amount necessa-
ry TO redeem the outstanding notes of the
bank.
The stockholders Of the franklin Bank
Of fCincinnati-the Franklin Bank of Co.
lumbus-the Western Reserve Bank, at
Warren-the Bank Of fMuskingum, at Put
nam and the Bank Of Mount Pleasant,
are separately declared bodies corporate
under this act and the act to which this
is an amendment. And in case of their
refusal, within limited time, to avail
themselves of the privilege, other persons
may apply to the Governor, and be by him
appointed in their stead.
We shall endeavor 10 pblish the act,
OIL, if it be too long, synopsis oft before
long. We have not read the whole of The
bill, but from accounts we have of il. we
are induced TO believe that it embraces
the general principles Of bank reform for
which the democracy have contendsd for
Some years past.
The vote on its passage in the Senate
will be found in the preceding columns.
The following is the vote on its pass
age in the House.
YEAS.-Messrs Baird, Brish, Brown,
ByngtOn, CahilI, CLARK, Douglass, Cor.
don, Green, GrUber, Henderson, Huns
phreys, James, Johnson, Kelly, Of Perry,
Kilgore, King, Larwill, Martin, Of Colum.
biana, Martin, of Stark, Meredith, Mudg>
EFT. McClung, Mcconnell, Mcfarland,
Nelson, Okey, Olds, Pitcher, Rees, Reid,
Sharp, Wakefield, Warner, White, vii.
ford, and Speaker.-37
NAYS,-Messrs. Ackley, Atkinson,
AthertOn, Baldwin, Bowen, Campbell; F.;
Chenowith, Chambers, Counts, Dixie,
Earl, Fisher, Fudge, Fuller, Gallagher,
Houseman, Kelly, of Cuyahoga, Larsh,
Mcclure, McNulty, Pardee, ProbascO,
Robinson, Ross, Seward, Schenck, Smith,
SpindIer, Steedman, Tuttle, Webb, and
Woodbridge.-32.
The federal wings, il will be seen,
with two or three honorable exceptions
voted against the bill, because it makes
bankers, like other persons, liable 10 pay
their debts; and because they desired that
no bank bill should be passed by the the
present Legislature, that they might
make party capital by charging the DEM
ocratic majority with the omission.
The motion ofMr. ByiDgtOn to Gen.
sure the Speaker caused great excite
ment in the House. The commencement
of the proceeding on the subject will be
found in the preceding columns. On
Monday Mr. GordOn's resolution to GEN.
sure Mr.. ByingtOn was called Up, and a-
ter motions TO recommit, to lay on the ta'
BILE, to indefinitely postpone, &C., all of
which failed, the question was put on the
passage ofths resolution, as follows
"ResOlUed, That LIE Grand Byinglon,a
member from Pike, be censured by this
House for his unproVOked insult to the
Speaker