New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-02-08
THE ATLANTA BANK.

The Atlanta GA Examiner Of the goth alt. con
tains Report OF the Special Committee OF the Geor
ea Legislature appointed at the last session. to whom
were referred the returns of the Atlanta Baak to the
Executive Department. The Report commences by
describing the provisions of the Charter under which
the Bank was organized The Charter stipuates that
the capital stock must be $500 900; that the total in
d,bt.dness shall not exceed three times the amount OF
capital stock paid n and that bills shall be issued
until there shall actually have been paid in $4,000
of the capital stock. The Committee endeayor TO
show that these provisions have been violated, and
conclude their Report az follows:
"Your Committee, therefore, have no hesitation IN
saving that this provision Of the charter has been VIC
lated, and that, too, knowingly and wiliuly:
Looking at the evidence before the Committee,
and all the circumstances connected with this Bank,
they feel that they cannot speak in terms of too great
severity of George Smith, and Of the President and
Cashier though the conduct Of the two latter persons
NAV be somewhat mtigated from the last that they
are acting under the instructions of said smith and
from their position must be subservent to his will.
Such wifu violations of the provisions OF the charter
of this Bank, and Of the criminal laws OF our state
require prompt and severe vindicauon' Inc secu,
rty of the rights Of the citizens OF our own state AID
of The North-W estern States alike demand it.
"Our law has made ample provisions for the punish
ment of officers Of Banks who violate their charters
The 9th and 2sh sections of the sixth division OF the
other officers Of any chartered Bank In this state,
who shall violate or be concerned in violating any
provision of the charter Of said Bank shall be guilty
of high misdemeanOr, and on indictment and con-
EVICTION thereof shall be punished by imprisonment
and labor in the Penitentary for term not less than
one, nor longer than ten years. Every President,
Director other officer Of any chartered Bank In
this State shall be deemed to pOssess such knowi-
edge Of the affairs Of the corporation a. TO enable
him to determine whether any act, proceeding, or
ornis siop IL q violation OF the charter.
at was with great reluctance that your committee
have come TO the conclusion that said George Smith
and tie President and Cashier OF sad BANK have maze
themselves obnoxious to these provisions OF the code,
but they are unable TO escape this eohciuson.
In view Of all the evidence, and Of the facts con-
nected with the organization and management OF this
Bank the Committee recommend TO the Senate the
passage Of the following:
"RTsoLuIIoSs.
al. That His EIcelency, the Governor be re-
guested TO ssue bis Proclamation declaring the char
ter of said Bark forfeited for violation of it, pro.
visions az contained in the fourteenth section of said
charter. 80
80. That the Solicitor General Of the Coweta Cir.
cult be instructed and required 10 institute such legal
piece edings against said Bank as may be necessary
end proper fOT the purpose OF having the charter Of
eaid Bsfk adjudged forfeited, and the privileges and
franchise thereby granted returned 10 the state. -,
80. That the sciicitor-General Of the Coweta Cir
cr be instructed and required TO institute prosecu
tons on the criminal side s o. sne b Gpust
and s C. Higginson, President, and J. X. Valentine,
Casbier of said Bank for violation Of the 27h Gee
ton of the 9Th Division Of the Penal Code, and that
he use such means, and take such steps, a. may DC
egs and proper 10 such persons TO be brought
70 trial and punishment .,,,,, :, co,,v
Nv P. BEASLEY,
JAS. p. sCRIVES"
A minority report, vindicsting the Bank against the
charges brought against L. wac made by member Of
the COMMITTEE.