The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1856-02-16

voice. The hll having been amended s'es
10 the Senate. -, ...,su.
70 On On notion q Mr.. sBuxarf, the bin repeanns
the dog law for the county OF fauaa'e''
ON motion q Mr.. MuRpAuaH, the b,i ncctpo
rating the Norfolk and Petersburg kaiiroaa Ooni
paay, was taken up and MI ~ psopossA 20. -
amendments 70 the same. ,a me, ,.ssxecr Tie rad
and The scaboard and Roanoke Railroad, unless
such connection may be agreed upon py the two
roads. and the toxH Of Por'smoam. On motion o.
Mr. N, the bin was ,a'a 1 nr,n,sa 'A''e AZ" INC
a., root;on OF Mr. Bass, the House took mp the
I'm insornorsiing the Red Sulphur Springs Of the
county OF Roanoke. and 1t being read q third time
was passed
the bin to incorporate the Henry and Franklin
Turnpike Company, which was ordered to be en-
crossed
On motion of Mr. Seldom, the order Of the day
on the militia bin was postponed until Tuesday
next
SoRTHwEsTERS RAILROAD.
On motion of Mr.. JOHNSTON, (after some oppo-
sition by Messrs. EDMUsDs and STASARD,) the or
der of the day on the Bank bill was passed by,
and the House took up the bill for relieving the
Northwestern Railroad Company from certain re-
strictions.
Mr. HOLIDAY withdrew an amendment pro
posed by him when the subject was last up. The
| question was upon the amendment of Mr. PAUL.,
providing that the bill shall not take effect until the
| Baltimore and Ohio Railroad 20. SHAH agree 10
pay to Wheeling the interest on the bonds OF that
cify given for its subscription to the company,
| guaranteed by the State, whenever and as far as
the dividends of said company shall be insufnclent
| to pay that interest.
| Mr. BRANNos moved substitute for the bill and
| that nothing contained in the bill shall be con-
strued so as to release the Baltimore and Ohio Rail-
| road Company from the provisions and require
ments of the act of la47 TO authorize that compa
nv to extend its road through the territory of Tir
ginia or from the contract Of July, 1e47, between
| said company and the city of Wheeling.
| This amendment only requires the Baltimore
and Ohio Company to comply with the provisions
of the acts giving it authority to construct Its road
10 Wheeling, and makes no reference to the oil H.
| cations imposed on the Baltimore and Ohio Rail
| road Company in the charter of the North West
ern Railroad. This obligation related chiefly to
the widening of its tunnels and the preparation for
| a double track to Wheeling before the North
/ Western Railroad should be allowed to go into op
| Grafton.
Mr. HoGE supported the substitute, and Mr..
| PAUL. spoke with warmth against it, declaring
that its passage would be an insult to Wheeling
he would prefer the unqualified release of the
Company from all restrictions. He moved the in
| definite postponemant OF the bill.
| Nj. BRANNoN replied to Mr.. p. He contended
that the amendment protected Wheeling in all her
vested rghts--that the rights of Wheeling under
the laws giving power to the Baltimore and Ohio
| Railroad were the only vested rights for which she
could justly demand the protection of the Legisla-
ture.
The question On the indefinite postporement was
decided in the negative
The question being upon the substitute Of Mr..
| BRANNoE, it was taken by ayes and noes, and re-
| sulted-ayeS 81 noes Sc. So the substitute was
adopted.
Mr.. PAUL. offered as AMI amendment to the bill
| as amended his former amendment for guaran-
| tee from the Baltimore and Ohio Railroad OF six
per cent. on its bonds, with the addition that this
| QuarantRa shOuld c0ntuua that cOmDaQy shall
have complied with the obligations imposed on it in
the charter of the Northwestern Railroad.
At this point Mr.. SEDDoN called for the order Of
the day, to which the House passed viz; the ques
ton of re-charering
| THE BANKS
MI Seldom resumed and concluded his remarks
in opposition to the rechartering OF the Banks up
on the principles of the old charters, and in favor
Of the Banks with State stock securities. In the
course of his remarks, he contended that the Bank
charters should not all be made to terminate at the
same time. He would be for dividing them be.
tween A, and IL years. or {, II and ~ He stated
many reasons why this should be dong; but espe-
cially because it would be desirable not to have
the entire banking intere kf1ng down upon the
Legislature at the same time. srfhe unequal perl
RODS would enable the Negislsture to profit by
perience and to deliberate more calmly upon the
important question He indicated the amend
ments that he designed offering to the charters of
the old Banks, and the adoption of which would
| make him their friend They are as follows -
(The first being the 18th section of the Senate bill
amending the Code in reference to Banks of eircu
lation)
Though bank have branch, all ts notes shall be
| signed by the President and couutersigned by the
Cashier OF the parent bank. II shall not be lawful
for bank or branch of bank, except in settle
ment with other banks or branches to pay deliver
out in payment satisfaction of any demand upon it,
or by way of loan discount any bill, note, check,
other papers, except such as is payable by itself at
its counter. For any violation of this section
the officers guilty thereof shall forfeit each hun
bred dollars and the bank shall also forfeit hun.
dred dollars one half to the normer and the other
to the Commonwealth"
'The President and Directors of each of the Branch
Banks in the State shall be elected by the stockhod
of the said branch and in general meeting of
stockholders of the Bank now provided by law.''
NE Bank shall issue bill, note check, order, or
other paper which is for less sum than ten dollars
or winch, not payable to bearer is not payable on
demand. Nor shall any such bill, note, check or
order or other paper be issued except for the of
ten dollars aud such other sums a. are mulhples OF
ten"
Amy Bank authorized to carry on business of cir
culation, dePosite and discount may receive money
to keep for depositors buy and sell bullion, issue
Bank notes bills payable to bearer demand, and
buy and SELL draw negotiate bills of exchanges bat
no such discount of Northern bill OF exchange shall
be for longer period than fifteen days"
Mr.. Seldom explained the effect of these amend
ments, and argued at some length to show that
they were proper and would tend to correct the
banking system, and make the Banks specie pay
ing institutions which, he contended, they were
not under the present system. When Mr.. SEQ
DON concluded
On motion of Mr.. DRoMGooLE, the House ad
journed.
OMITTED FROM THURSDAYS PROCEEDINGS.
On motion of Mr.. LASGFIT the bill to incorps
rate the Mount Vernon Ladies Association of the
Union, and to authorize the purchase of q part Of
Mount Vernon was taken up, with the view of or
dering the same to be engrossed.
Mr. TAYLOR said that he had in his possession
the positive assurance of the proprietor of Mount
Vernon, that he would not accept any such bill as
the one under consideration 1t would therefore be
useless to have it engrossed, and he would accord
ingy move that it be laid upon the table. The
motion was agreed to.
A6AcrsuuIuS WE have on hand and for
sale DICK R0ATS of tbo largasf