Mississippi Democrat. (Carrollton, Miss.) 1844-18??, 1845-10-29


? true that il has been decided that lcnis
: lature may waive forfeiture of the char
Ter Of a corporation, in some cases in III,
Z New York and Massachusetts reports, bu
. no where has it been decided that such
waiver can be made 10 take effect after Z
+, judgment Of forfeiture has been obtained
: and the extlngulshment of debts has taker
effect, thereby 10 affect the rights anc
change the contracts Of individual citizens
without their consent, BY an act subse.
: quent 20 the granting of the charter and
f, the making of such contracts. If the le.
gislature can do this, it can pass law i'm.
J pairing the obligation of contracts, though
prohibited by the constitutions of our own
State, and Of the United States, and make
and alter contracts Of individuals at plea.
sure.
Not one out of ten of the banks Of this
State could pay their liabilities it they
could collect all the debts due them by SOL
vent pcrsons--and from their past history,
we could have no confidence or hopes that
they would pay their liabilities if they
could. As TO bank trustees or assignees,
all experience proves that when bank
goes into their hands, it is usually in too
desperate state ever TO recover and meet
lis liabilities
The high salaries of these trustees and
nssignees usually allowed lhem, and the
bank attorneys together with the expenses
incident 10 The trust or assignment form
burhen which invariably brushes them
Indeed, the trustee feature, in the amend
menl seems rs though it was intended 10
furnish fat salaries for the old officers and
attorneys Of the banks-for it is hard to
see how any rejecting man could have
expected any benefit 10 result 10 the Gre
diiQrs of the banks from the appointment
aud agency Of trustees under the amend
menl. No such power is given or duty
assigned them as 10 pay creditors of the
banks, even after they shall have collect
ed the debts. No provision is made on
this subject-and if power was given them
TO make distribution amongst creditors,
what an erroneous, dangerous and cor
rnpting discretion would be given them
What wide door for speculaious and
80 ~ 'o'oi'es "ou'u Nc S,'"u,ns
Wpl,'',ip'i W Ploei "s'''ia'o ii, ~, se''e-
ien 'i1 " .p1 uust, eoui' " D,ia"ceIy
III. ~ | ~ $780, y ~
Ill., ohiJ IT, a. "u"'Vo, - 49, o'ou.'ols, 'no
,,anso NJ r., ,nn ,h III - n P' ,h -"
49,. ,o,,i1 ~, eaI - l"i'e ~ III
iaa,aJ w H. H. - - r tn''',9 : ~
,ha 1911, ,yonIJ h. H., al ~ $3.50 aao,,
oarsnn,ad h., ~ .aa I;,;''. 80
u,onld hoS hcnab, IL &, ~ ,r,s "us'''
r;oLar cir &C. nj;
ho ;,aa;aad Tsa an,anJa,.
Joca.,;ro NJ $3.50 l. don;', W.
..Ieh f; c ~ $50 ~
=, ~ 800 VI '"0 "'''se' 's
y ~ n'auo P"y pp'o'
o,;nara - ~ "ao 49," ~, uPon Wy
Nm ~ ~ MI o ~. 4 = ~ D''sg'o
banL aro n,o,olr'' 1911 ~, ~ ne,, ;f ~
,hev he leaoIlv d;.charaoJ a I'd ,o,oasad
anor ;ndsrn, &c carrsi,nro N ~
hanL T, J;r,;o,'t $500 ,nh@, H. -"
a;sla,n. ~ - A. rJ;,;Jnai
? ~ ,ha;n o.at 49, PH'Jn
!. Xiii ~ 49,
on;n;on Thasa aro noa,,a.s e.. , ~
siIo,a,;nn r. ,ho ;nd;s;JNaI o;,;non ~ ~
/, i sa;d ia, ,hosa doh,ors ~, H. ~.
&c H. haah ,ho 49, MI. ~ - nI.eS
: ~ L,-h ha Ia. ~" $500. 20 H., , p, ~
az, ~ ~ ~" ~, ,h - M" ~
nar,, ~ a.I,s s,ooLR o,ddr. XXI -"
80 " - w. ,ha h;s,nsu - n;n W. -
,an 81 al ~, honLs IN ,he 's,a,o 49, ~
"a;d ~ 90, nr ,s";s s,nct !. snoo;o " ~
~ : u ~ = ~ aPo1'e, :, ny |
=, 49, pa.'"s o" 80 "a ,eqn.e
y "'u" o"a' 1880 =. :, 'eass PI'u ho n'oie