New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-04-08

lied -
said Speaker enpore during each and every S
OF the Speaker OF tho House hch has occurred sine
passage OF said resolution or which may occur daring u"
The srsaKER (Mr varnuw) In the Chair explained the
necessity for the passage OF this resolution lie bad dis
charged the duties Of the Speaker In his fetal cspscy
and the nature Of the resolution TO conhr bis acts
as shere doubts 10 TIE minds OF The officers OF
the House a. biz suhoniy. Nj VARSUM further az
planned the action Of the House former similar occs-
sons The resolution was sdopred
The Senate returned the Wilhamsburgh City Charter
Bill with amendments, which were concuned in
Petitions presented for The speedy completion OF
ne Erie Canal Enlargement
For the prohibition Of diversion Of the travel OF the
NewYork and Erie Railroad from Nhs sEaeto New Jersey
For passage of the Excise Laws.
For the Bridging OF Lake Chsnplsn, 81 Rouses Point,
from merchants OF New York City.
Mr. Lyon OF Lewis County, reported hyorsoy on
the concurrent resolutions Of he Senate on the Public
Mr.. VARsum from the Committee on Railroads, to
whom referred the several petit 90 the subject OF
the division Of the travel OF The NewYork and Erie Kali
road for he State Of NewYofk reported adversely 10
the Legislature taking any scoA on the subject bat re-
ported bin entitled An Aci in relation Is the
poraton of Freight the New York and L ne Railroad
The bill provides that nothing contained in the act
titled An Act TO authorize the formation OF Railroad Cor
porations and 10 regulate The same passes April 49,
shall not be construed 10 authorize the NewYork and Erie
Railroad Company to their freight trains over any
Railroad through the State OF New.Jersey The bill was
referred to the Committee OF the Whole.
MrVARNuM then called up for consideration the report
OF the Committee the bill authorizing Railroad Corpo
raons subscribe for the stock Of the great Western
Road. Agreed to-
The same gentleman then called up the question Of
curing with the Senate on the amendments to the bill su
thozDg Railroad Companies 70 subscribe for The stock OF
the ATtcs and Hornelsville Railroad Company.
The motion to consider the smerdments was agreed TO
and the question of concurrence deferred until WedRes
Mr UNpEKwoop, from the Select Committee reported
complete with amendments the bill relating 10 par re-
This bill provides that it shall duty OF every Bank
Corporation Bank As.ociaoo and Individual Bsaser out
deem and pay demand all circulating notes Issued BY
such Banking Corporson, Banking Association or indi.
vdual Banker. presented Cor redemption payment at
the Office OF their said agent In ghe City OF NewYOrk Al
bany Troy al The rate VI discount not exceeding one
quarter OF one per cent
SEC 1t shall not be lawful for any Bank, Barking As
socision, individual BsnieI directly indirectly TO
present be interested In presenting any circulating notes
or OF any other Bank Banking Association or lndi
vidual Banker hereafter put into circulation Having re-
deemng agent provided by The hereby amended at
The counter OF such other Bank. Association or Banker
and to demand special payment thereof unless me same
note had been presented at the Agency OF such
other Bank Association Banker ard payment thereof
contemplated by this refisedexcept that this sec
on shall not apply 10 Banks In the same or adjoining
counties OF this slate.
SEC s. Whenever an action iha brought against any
Bank Banking Association or individual banker, for the
recovery Of the amount due on any circulating note or
notes registered 10 the Controllers ocehe payment Of
which shall have been demanded al the banking house or
usual place OF busness Of the oefendsntf shs appear
the trial otherwise to the Court iI which suit was
brought that at the time such demand OF payment was
made the defendant offered In payment the circulating
notes issued by any Bank Association or banker other
IMAM me DEFENDANTS, winch were 81 tno Ia
City OF New-Yor or Albany on draft or drafts on any
Banking Associations banker New York Albany or
both or either Of the same, for the amount OF the
circulating notes presented with an affidavit IL re-
CURED, that such draft drats 10 available TO their
full amount insure the immediate payment thereof on
presentation or IN case any action shall be commenced
upon such note before the expiration Of fifteen
days from the time Of the frat demand thereof as above
mentioned; and provides that such bank association or
banker shall be ready and prepared to redeem such
notes In the law1l money OF the United States ct the
counter or ordinary place OF business Of such bank asso
mr. 61AAn
from the time Of the first demand thereof with interest
then in either tho plaintiff In such action shall not re.
cover any costs fees or disbursements whatever against
the defendant and shall be entitled TO no more
thsn per cent interest Ia lieu OF all damages for tbs
Be upon such note notes any action unless
the plaintiff holder thereof shall have again presented the
same for payment the banking house or Urinary place OF
business Of such defendants 10 the 18th business day after
such demand and the defendant shall have neglected and
refused 70 psy the same with interest 70 tnat ume 80 sote
said and II such Bank Association or Banker shall not be
deemed to have suspended or refused specie payment
within The meaning Of the New York Statute authorizing
proceedings for the dissolution OF the charter OF any 81 "a
Bank authorizing proceedings to restrain or enton the
ordinary business Of such snk Association or Banker
nor shall such Bank Association or Banker in such
be liable any greater damages for the nonpsymen
OF such circulating note notes Than a. above provided
any provision In the charter OF auy Bank or any oine
RE he sscon eRspss or the
1885, amended by section ofchap 46 OF the Laws
ofl84 Is hereby further amended thai shall read as
follows: In case the maker makers OF any circulating
countersgned and registered as Aforesaid,
shall any time hereafter lawful demand, during the
usual hours of business between the hours OF 10 and
O'clock places where such notes 10 or are pays
Bile fall or refuse 10 redeem such note or the lawful
money Of the United States the holder OF such note or notes
making such emand may cause the to be protested
In package ment By notary public under his
seal Of Office, In the usual manner unless the Presden
Cashier Teller Of such Bank shall offer TO wave demand
and notice Of the protest. and SHALL In pursuance OF such
Offer make sign and deliver 10 the party making such de-
mand, admission In writing stating the time OF the de-
msnd the amount demanded and the feet OF non payment
hereof end The Controller on receiving and nng Ia MS
Office such admission protest. together with such note or
shall forthwith give notice In writing 10 the maker
makers Of such note notes 10 the same and IL he
they shall omit do so for een days after such notice,
the Controller shall Immediately thereupon unless ne shall
be satisfied that there 10 good and legal defense against
the paym ent OF such noo notes. give notice In the Stale
paper that all the circulating Issued by such person
association will be redeemed Of the Truat Fund Ia
his hands for purpose and the Controller shall be
qued apply the said Trust Fund belonging to the maker
or makers OF such notes to the payment pro of all
circuan notes put in Circulation by the maker or makers
OF such dshOnored notes 10 the provisions OF this
ACT and adopt such measures for the payment OF such
notes will In his opinion, ost efectuay prevent loss
SEC s. The 10Th section OF said chapter $50 OF laws
OF 1898, Is hereby amended, as 10 read as ioows
Such association individual banker shall be liable 10
pay The holder Of every bill put In circulation IS
money, the payment OF which shal have been emsnded
and refused at The bank usual place OF business OF such
association banker; damages for nonpayment thereof
OF such refusal until The men evidence OF debt
and hereonprovded that or the same sha not
be paid within the time limited by the notice Of the Con-
uoer. provided by the fourth section this ACT or
provision made for the payment thereof within fifteen days
AFTER sucn demand then the holder sne DO entitled 70 70
ceye and interest and after the OF per
per annum, until said note notes, with interest
from the FIRST demand, shall be fully paid"
Mr. TOWNSEND moved 10 recommit the BILL with instric'
tons 10 strike out the words Bank Banking Associa.
tOn' or Individual Banker 10 the second section and
insert she word Persons" Mr. T. opposed the first sec
on which provides that note shall be presented a. the
counter OF the Bank issuing it, by other Bank without
having first presented al the agency or the issuing bank
and submitting TO discount OF per cent Mr. T. con-
tended that adopt mode for the govern
men OF individuals, and another for Corporations lie
thought such course wrong erroneous in principle,
and that sanctioned in this House, be hoped would be
rejected the Senate and if passed there could be vetoed
by he Executive FOR the purpose however, OF testing
the sense OF the House. he would recoInmt the bi with
instructors TO insert the word persons" thai the BIZ
should be equally applicable persons and Corporations
Mr.. UNDERWOOD opposed The proposed amendment -
He went into defence OF the provisions Of the bill which
be said designed to defend Country Banks against
The attacks OF the proposed Bank Of Meopos Ia the
City Of NewYsrK and demanding specie for their notes
IwEs designed In any way 70 interfere with the rights
Of individuals but simply to defend weak corporations
against the attacks Of The strong The object Of the Bank
q m crnlfsr Ia 10