Bradford reporter. [volume] (Towanda, Pa.) 1844-1884, 1857-10-15

The bill concerning Banks, reported by the
Select Committee of seven, was again taken
Pending the consideration of the first sec
ton, = s b g
Mr.. Wright renewed the motion to strike
ont the clause authorizing new Banks char
tered at the last session, to receive payment
for their stock in the notes of other Banks,
during the suspension " Provided, the pro-
visions of the Act do not apply to Banks,
Savings Fund, Insurance and Loan Compa-
mics, or other Corporations not already organ
ized" Mr.. Wright supported this motion py
q speech. r-szssz -=s-=z-,-s..-s, -
The motion to strike out was opposed by
Messrs Wilkins, Taggart. Lewis and hilliIi-
ger. .'..~ ~ o. ..sE. ..f . ta. ;.
. On vote being taken on the motion, it
was negatived-yeas II, nays 20, as follows
YEAs-Messrs. Brewer, Browne, Ely. Ev-
ans, Fetter, Gazzam, Ingram, Knox, Steele,
Walton, Welsh and Wright-l2. r.-
NAYs-Messrs. Coffey, Craft, Cresswell,
Fleniken, Frazer, Gregg, Harris, Jordan,
Killinser, Laubach, Lewis Meyer, Scofeld,
Sellers, Shuman, Souther, Staub, TagSart,
Wilkins, and Finney, Speaker 20.
Mr.. Wilkins moved to extend the time OF
the suspension of specie payments by the
Banks. to the lst of July, 1858. p.
Messrs. Wilkins and Gazzan supported,
and Mr. Wright opposed the motion.
On vote being taken the motion was neg
atived-yeas IA, nays Is.
r Mr. Coffey moved, as an amendment to hx
the period of resumption of specie payments
on the second Monday in January, 1858 and
to add proviso to the bill, to authorize the
Banks to charge per cent. on loans and dis
counts | per cent. of which to be paid into
the State Treasury to be applied as Sink.
ing Fund in payment of the State debt, till
the said debt be cXtinguiShed. .. s. .r.s-.,
The amendment was supported by MIR. Cof-
fey, and opposed by Mr.. Browne. s.r .--r
Mr. Coffey's amendment was rejected
yeas 20, nays p. .r. s...-
Mr.. Never submitted an amendment au.
thorizing the Banks to pay out the notes OF
specie paying Banks of other States OF not
less than five dollars ... ..
Mr. Browne opposed the motion and Mr.
Scofeld supported it, ..' l.. ....... +.
The vote was taken, when it was negatived
yeas IL, nays r. r...t.. -e.
Adjourned till 3 o'clock this afternoon
AFTERNOON SEss1oS.-The Senate met
| again at 3 o'clock.
The consideration of Bill No !, reported
by the Select Committee, was resumed.
On motion, the vote on the 1st section wac
taken, and it was negatived, yeas ID, nays l6
The following is the vote taken:
YEAs-Messrs. Frazer, Gregg, Harris, Jor
dan, Killinger, Knox, Laubach, Lewis, My
er Sellers, Souther. Taggart, Welsh, Wllkin!
and Finney, Speaker-l5. .......
NAYs-Messrs Brewer, Browne, Coffey
CresswelI, Ely, Evans, Filter, Flenikin, Gaz
zam, Ingram, Scofeld, Sherman, Steele
Straub, Walton and Wright-l6.
| Mr.. Coffey moved to reconsider the vote
Agreed to; yeas 90, nays Il.
The first section being again up, Mr.. Myel
moved to extend the suspension of specie pay
ments by the Banks, to the second Tuesday il
April.
The motion was lostby tie vote-yeas l6
nays l6. .......-~
Mr. Wright spoke against the section. II
said the bill will do no good. The Bank
which had suspended spicie paymeats had alb
solutely forfeited their charters, and the,
could not be restored by an act of Assembly.
Mr. Browne held different opinion. Thei
charters were not forfeited, till proper judicia
proceedings were had.
Mr.. Wilkins and Crcswell eoncurred in thi
view. ....
A vote on the first section was again taken
and it was passed-yeas Is, nays IA.
The vote stood as follows
YEAs-Messrs Coffey, Crabb, Frazer, Gaz
sam, Gregg, Harris, Jordan, killenger, Knox
Laubach, Lewis, Myer, Sellers, Souther Tag
gart, Welsh, Wilkins, and Finney, Speaker
Is.
NAYs-Messrs Brewer, Brown, Cresswell
Ely, Evans, Fetter, Fleniken, Ingram, Scofeld
Shuman, Steele, Straub, Walton, and Wrigh
IA.
The first section of the bill, as passed. fxe
the day of resumption by the Banks OF specit
payments, on the first Monday in February
| 1853. .-....... ......
The second section of the bill was also adop
ted ... ..... ..
The third section was taken up. Pendin!
the discussion thereon, the Senate adjourned
till o'clock this evening. ....
EVENING SAssIoN.-The Senate met thi
evening. -...... ~.
The consideration of Bill No. l, reported
by the Select Committee, was resumed.
Section 3 pending, a discussion took place
between Messrs. Gazzam Coffee, Jordon, Will
kins, Wright Browne, Welsh, Taggart, ant
| others. ........ ..
Mr. Gazzam moved to strike out the fea-
ture requiring all banks to receive each other
notes at par, and to insert the word =" author
iize" 4 ... ..,.... .-...,.... .
The motion was negatived by the vote of
yeas to "a nays. lid. s..I.. s
Several material amendments were adopted
and the section then passed-yeas 81, nays 10
Section 4 also passed .....
Mr'Brown submitted sections two and thre
of his proposed supplement to the act of Apri
1850, as section of the bill under considera
ton. 81 10
| The section as thus submitted limits th,
| Bank Dividends to nnr cent nar aunnm clna