The North-Carolina standard., 1844-12-11
The Senators then Withdrew, and The Speaker
resumed the Chair
MIR. Shepard having yielded the floor,
On motion, the House adjourned.
IN SENATE.

IN SENATE.
/ Friday: Dec. 9th (
/ The Senate met according 10 adjournment
/ Mr.. Drake from the Committee on Claims, re
ported and recommended the adoption of a resolu-
ton in favor of Arthur s. Mooring; also one al
lowing Leonard Ziglar the sum of forty dollars
and twenty cents
/ Mr.. Francis offered resolution to pay William
J. Lewis fifty dollars for carrying writ of cleo
ton to Pitt county. Referred to Committee on
Claims
Mr.. Biggs introduced bill to repeal an act
passed in 1885, so far as it relates to Martin coun-
/ ty Read first time and passed
The Speaker announced as the next business of
the day the unfinished business of Yesterday to
wit: the consideration of the bill to amend the act
! Incorporating the Guiford Gold Mining Compa-
ny.
Mr.. Francis who was entitled to the floor, ar
gucd the question at some length. and particularly
as to the amendment proposed by MIR. Boyden,
which he considered as only carrying out that Of
fefed by the Senator from Martin
Mr.. Biggs replied He snid he desired to hold
the attention of the Senate to his amendment and
intimated that the amendment offered by Mr. Boy-
den was thrown in for the purpose of embarrassing
the one proposed by himself His amendment
had been framed with some care-he thought it
ample in its provsions-it carried out the great
principle which was dear to him, and for which
he had uniformly contended 1t secured the pub
lie against oVertrading and misnanagemcnt on the
part of the corporation. The persons composing
this corporation had doubtless one leading desire,
and that was to make money and advance their
own Interests. If any particular and permanent
dement's were reaped, they would be gaTnered up
by lhem and they alone, provided they should fail
as corporation and unless his amendment were
adopted, would get all the benefits, whilst the loss
would fall upon the public 1t was just, therefore,
to make the individual corporators responsible in
their private property, so that whatever they might
do, their creditors might not be liable to lose by
them. The attempt the part of the Senator
from Rowan to enbarraSs his amendment mi ght
be fair in Legislation, but certainly all unfair
way OF meeting the question. Did that Senator
desire to see his own amendment pass2 Would
be vote for 2
Mr.. Boydcn said in reply, that he thought it
would be idle to adopt the amendment of the Sen
ator from Martin unlt IS has amendment were also
adopted. How could they find out the means of
the Stockholders, unless his amendment passed
One stockholder might reside in New Orleans
and others in New York and no one could know
what their private were if no report set
ting them forth should be made to the County
Court. In order TO carry out the views ofthe Sen
ator from Martin he hoped his amendment would
be adopted
Mr.. Edwards said he had always regarded j.
as sound principle that corporation invested
with an unlimited power 10 trade should be bound
TO The extent of IFS credits. This bill asked that
new powers might be extended to this cor poraton
and IN extending these powers, it was perfectly
competent in the Legislature TO prescribe rcslrc-
tions; but he was unwilling, nor did he consider
1t necessary, 10 institute the Inquiry proposed by
the Senator from Rowan into The private estates of
the individual stockholders The amendment Of
fered by his friend from Martin embodied a most
valuable and salulary principle, and he hoped il
would meet the sanction ofthe Senate The prin-
ciple of individual lability was sound one, and
he could never consent to the doctrine ofunlimittd
credit and restricted liability.
The amendment of Mr. Boyden was then put
to the Senate and rejected The question then re.
CURED upon the rntndnent offered by Mr. Biggs
and upon this the yeas and nays were demandcd
Pending this. however the Senator from Daviiol
son, Mr. HargraTe, offered the following amend
ment:
"That in case of failure on .he.part of said cor.
poration the private or individual property of each
stockhoder therein, shall be subject by law to the |
payment of his part ofthe debts of the corporation
after the property of the Company is first exhaust
ed, IN proportion to the amount of stock severaly
owned and held by them at the time of such E,if-
not Otherwise"
Thisamendmcnt was also rejected. when the
qHestIonHwas taken on the amendment Of Mr. Biqos /
Those who voted for the amendment arc:
Messrs. Bggs, Boyd Cameron, Dra1e, Eaton
Edwards Ennett. Etherdge, Exum, Gavin Gwynn
Hester, HILL Holmes, Jeffieys, Melvin M oody Pas
teur, Reich, Speight, SraIlings Stowe Thompson.
Of Wake, Tonflinson, Walker and Wilson-26.
Those who voted against the amendment are
Messrs. Boyle, Boyden Cowper, Dockery. Eui-1
ott Francis, Halsey, Hargrave, HeIen, jefferson.
JoYner Lindsay, Mcmillan, Pharr, Shepard Smith
TaYloe, thompson of BERTHE, Waddell, Woodfn'
and Worth-2l.
So the amendment prevailed The question
hen recurred uponthe passage ofthe bill the third
reading, when Mr.. Lindsay asked that i. be laid
upon the table, which was agreed to
The resolution in favor of John L. Christian. of
Montgomery; the bill to amend the 29th section
ot the 3lstchaper of the Revised Statutes the bill
Q amend the 5th section ofthe 10th chapter of the
Revised Statutes; the resolutonrin favor of Green
Hill and William sringer; the bill more effectu,
My TO suppress trading with slaves and the bill
o extend to persons in Montgomery and Stanlv
he provisions of the bill relating to the destruction
IF the records in HEREFORD county, wereeaeh read
third time and passed y
Mr.. Jefreys, the Senator from Franklin. intro.
iuced the following Resolution, which was adop- Il
ed -:
Resolrod, That the Public Treasurer be in.
tructed to report to the Senate the names of the
the bonds given to indemnify the State
lgaInst any loss or damage that may come to the 8
ame IN consequence of the endorsement by the I
State of the bonds oflhe Raleigh and Castor Rail