Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-07-31

Tho Knoxville southern oai-sa Of the Q9h says:
-. 60, ~ L. =. - !. a. L.. .I,rn,,c

The Knoxville Southern CITIZEN Of the goth says:
The Citizens Bank had agency this place Through which
been using his hands that circulation thus
acting in tie utmost good faith to the public, whose immediate IN
told that nearly all the circulation in East Tennessee has been re-
deemed, and in few days Thought mems IN his hands gill
who asreevei the Of this bank either directly or
niireoty hroqgh the agency heres with dollar Of Citizens
Bank money in his pocket
Yesterday we copied from the Memphis Acaaned of the 2th
article in regard I've suits that had been instituted
against the Citizens upon notes. which it is said that
upon opening the roll of bills the Judge attached to each Ger
tcate Notary Public Knoxville, that he had on the 2lst
July ls5s, presented said bills Citizens Bank in Knoxville
to roRAIa the Cashier for payments and that he REPLIED
he had no funds ia his hands,"
Here discrepancy which may be worth looking into we
told BY the Knoxville CeH that Mr. CRkIs had means be-
longing 20 the Citizens Bsnk his hands the 99h nstsh
days after the Notary Public had demanded payment the notes
sent from West TennesseeWh which he was redeeming the cir
culaton Of the Bank held by citizens Of East Tennessee Now
should ike by what authority Mr.. CRAIG makes this
discrimination Tho from Memphis were made pay
able at Knoxville same held by citizens Of East Ten
nese and although they may have been paid out by him. it
certainly his duty to have redeemed them the same as those
he paid out He had right discriminate in the matter
Of redeemng the notes Of Bank Of which he the cashier
agent
Tennessee Bonds the New York Stock Exchange the
20t inst g2s 99. Bonds Of the Tennessee and Virginia
Railroad Company sold at auction the day at 7O.
We from the Knoxville southern Citizen, that Gro. W
BBDsE ESQ., Attorney General for the third Judicial District Of
State presented bill few days since to Chancellor VAN
DYKE aedgug that the Planters Bank at Athens,
Banks Of Tennessee doing business SUCH under
Incorporation passed by the Legislature Of this State
that said Bank had suspended pe payments and had since de-
oned accept the provisions Of the Of the last General As
semy, with reference the suspended Banks wherefore
injunction restrain doing business
such, and asking the appointment Of Receiver to take charge Of
Of the Bank appropriate them to the payment Of
the holders OF the bills the and other creditors TIC
Chancellor declined grant injunction once but ordered
notice the application given the Bank appear before
him Chambers that the application might be resisted Accord
iugy Saturday and Monday last the 2h and &c ns the
gument ubmed points which thus presented by
| a correspondent Of the citizen:
The Attorney General contended the violated
18th Of suspension specie pay
corporation the violation Of its the corpora
ton aroga the contract and authorizes the Legislature to alter
amend abolish the Charerat the powers which corpora
ton may rghtuy exercise necessarily subordinate to the
power the State by which they may be modified abolished
that good faith requires the mutual Observance Of tie terms Of
contract by the parties respectively And therefore violation
by of the PARTIES OF the stpuatOns in the contract release:
the other party from corresponding obligation.
Mr. T. B. FOgg, couended that the Branch Of the Planters
Bank not independent corporations but
Of the principal Bank cooperation which located at Nash
vlc and that suit could not be maintained against the Branch
must be brought against the principal Bankat the
1876 prescribed the mode proceeding against corporations
Injunction could granted restrain
Of powers in its Charter except
Of freud and where the corporation had exceeded its authority
that according to the Charter Of the Planters Bank the mode
proceeding by SCI dthatI receiver could be appointed
until the Charter declared forfeited by Judicial proceeding
Planters Bank had suspended specie payment
that they had complied with all the provisions Of the acts Of 1858
although they had not hed their acceptance oil It's provisions
The application for the injunction refused permission
given the Attorney General amend his b bat in wha
| respect we are not advised