The daily union., 1854-02-07


Ms BRIGHT II does 10 the amount Of stock sub
serbed. The last section OF The bill viii explain that
ask The Secretary 10 read IL.
The Secretary read as follows
" SEc IL Had b. Il further enaetsd That each OF the
stock holders IA the Geoseown Gas Light Company shall
be held liable IA bis or her Individual capacity iof all me
debts and liabilities Of the said company 70 amount
squs % the capital stock held by hem respectively Pro
patd, That such liability sha be eonnned 70 tue STOCK
holders who such when such debts were contracted
Gf liabilities incurred"
Mr. PRATT | do not thiBk the section is very
clearly worded do not know whether tho Intention is
10 make liability TO Tue amount o. lhe sloek, and N
addton 10 II, or whether II IS only reasseins what
would be lhe fact anyhow, that the STOCK should be ia
Bile for the debts presume that The intention Is 10 make
the individual slockhoder liable for the amount OF stock
he hods-suppose him TO hold $1,000 worth OF stock
that that stock is 10 be fs liable for debts, and then he
is 10 be individually liable Tor one other $1,000.
Mr. BRIGHT, He is clearly not 10 be liable beyond
the amount OF stock he may own az the time the liability
takes place As stated. this is copy precisely OF the
charter which passed Tor the benefit OF this city.
Mr. PRATT Then, do not see the use OF the sec
lion al all Tor the sockholder would be liable TO the
extent OF his stock anyhow.
Mr. BRIGHT Then, as a matter OF course, The sem
sto ought not 10 object TO A. No injury can result 10
the stockholdes II that be the proper Interpretation TO De
given the section.
Mr. PRATT. Every body knows that 10 The extent Of
the stock Of corporation 10 It's corporate capscy The
corporaors liable for It's debts II the bill intends
create individual liability beyond that cofpo.
rate liability, that IS Question which appehend should
be brought 10 the attention OF the Senate,
Mr.. BRIGHT will state 10 The senator that IL does
not, and not intended Does The senator object
to the passage OF the bill II so, must postpone lis
consideration until another day
Mr.. PRATT. ! do not
Mr.. BRIGHT, Then. hope tha, ii will be put upon
lis passage now.
No amendment being made the bill was reported TO the
Senate and ordered be engroased Tor third reading
and by unanimous CONSENT was read third time and
passed.
FRENCH sPoLATioEs.
Mr.. HAMLlN. This day assigned for the con-
sderaon OF the bill making indemnify for French spo-
atons There however, another bill assigned ioT
this dsy-the Nebraska bull, upon which suppose the
honorable from Ohio Mr.. WADEl is ready 10
speak. therefore rise now merely TO give notice that
shall Tomorrow ark Tor vote upon tue spoilaon bill
during the morning hour, and hope the vote Will be
gwen. IL that cannot be done Tomorrow, hope il will
be done on The succeeding day.
NEBRASKA.
Mr. DOUGLAS ] move to proceed to The coasidera.
ton OF The 81 ccia order of the day
The PRESIDING OFFICER, (Mr FooI in the chair J
The hour Tor the special order having arrived upon the
call oil any member the special order must ba taken
The Senate then proceeded TO consider The bill for
the organization OF The Territories Of Nebraska and Kan
sss, upon which Mr.. WADE was entitled 10 the floor.
MIR WADE addressed Inc Senate al length and
Mr. JONES, oil Tennessee, eped
Mr. CHAsE's amendment relecied-yeas l3, nays
80
Alter some further debate. (Which Will be published
hefeaeI) the further consideration of The bill post
poned until tomorrow.
SENATE CONTINGENT FUND.
The Senate then proceeded 10 the consideration OF the
Senate bill 10 regulate the disbursements OF the contin
gent fund of the Senate and tor other purposes winch
had been returned from ,he House OF Representatives.
The House had eceded from their ist, Sd, tla, 5h, and
7h smendments agreed 10 the amendment OF The Senate
10 their lib amendment and insisted upon their second
amendment.
Mr HUNTER move that we recede from our dis
agreement
Mr. BADGER. / desire to know what we are to re-
cede ilom.
MIR HUNTER. Their amendment strikes out the
thousand dollar compensation 10 the Secretary OF the
Senate.
Mr. BADGER Well, Mr. President, move that The
Senate do adjourn.
The motion vas az reed to, and he Senate adjourned.