The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1858-03-05
THE STATE RANK.

- - t"o oe1ec DAnei - - f'SeSo ehc
Senate. The friends Of the measure are con-
iideni thatit will go through the other branch
Of the Legislature. and become law.
A BILL For the Relief Of the fsoplc:
SEcrIOS l. Be Il enacted By the General
Assemble Of the State Of Tennessee, That the
Governor OF the State of Tennessee appoint
three persons to act as Commissioners, whose
duty it shall be, after giving ninety days no
tice IN one newspaper published in each
Grand Division of the State, TO sell the in
terest owned by the Stale of Tennessee in
the different Turnpike Companies in this
State; said Commissioners shall be allowed a
reasonable con- pensation for their services, to
be paid them BY the Bank Of the State Of
Tennessee. Said Commissioners shall sell
said Turnpike stock for cash; the proceeds Of
which they shall pay to the Bank Of Tennes-
see as so much additional capital to said
Bank. Provided that such Commissioners
believe that such stock is sold at its'value in
the market.
SEC. 2. Be il further enacted, That the
Governor Of the State of Tennessee shall
cause to be issued twelve hundred and fifty
thousand dollars coupon bonds of the State
OF Tennessee, bearing interest at the rate Of
six per cent. per annum, payable semi-annu-
ally; payable at such time and place as the
Governor may be pleased to designate in said
bonds, which bonds shall fall due in thirty
years after The insurance thereof; 10 which
bonds there shall be attached the usual cou-
pons, and assigned by the Treasurer of the
State OF Tennessee. Said bonds shall be
| signed by the Governor Of the State Of Ten
nessee, and eountersigned by the Secretary
of State; TO which shall be attached the seal
of the State of Tennessee.
SEC. s. BE II further enacted, That the
Governor Of the State Of Tennessee, Treas
urer Of said State, and the President of the
Bank Of Tennessee be appointed Commits
| sioners, whose duty it shall be 10 sell the
bonds provided for in the second section of
this act, provided the same can be sold at par;
the proceeds of which they shall pay over TO
the Bank Of Tennessee as so much additional
capital. II there shall be difference of opin.
ion among the above named Commissioners
then majority of State shall control.
Sac. 4. Be Il further enacted, That so soon
as the proceeds provided for in the first and
second sections of this act shall be realized
by the Bank of Tennessee, then there shall
be a branch Of said Bank Of Tennessee es.
tablished at Memphis; the county of Shelby,
constituting banking district, with capital
of three hundred thousand dollars. Also,
branch at Knoxville, with capital of one
hundred and fifty thousand dollars, to be paid
to them out of the proceeds raised by virtue
Of this act said branches shall have all the
rights and privileges belonging to the origi-
nal branches Of said Bank as to their full
organization, etc.
SEC 5. The balance Of the proceeds raised
BY virtue Of this act shall be divided between
the mother Bank and the old branches, &C.
cordng TO the voting population of their re-
spectiye banking districts. The mother
Bank may employ such of her own capital
at such of the branches as she may deem ad-
yisable.
SEC. 6. Be Il further enacted, That il shall
be the duty of the Bank of Tennessee to pay
10 the bond holders or the State of Tennes-
see, the semi-anhual interest on the bonds by
this act directed TO be issued; and it shall be
the duty OF said Bank to set apart as a sink
special bonds, the entire net proceeds above
six per cent. per annum of the additional
capital raised by virtue Of this act; which
sinking fund shall be under the immediate
control Of the Tennessee Legislature.
SEC. Z. Be ii further enacted, That this act
shall take effect from and after this passage.
WAsHISeroS, March 2.-The War Depart
ment has received adyices from Col. Johnson,
in which he urges The necessity Of an early
arrival Of military stores and trains with a
strong escor, for its protection. Gen. Scot.
has ordered two hundred wagons, sixteen
hundred mules with seven companies Of cav.
airy, to start from Fort Leavenworth by the
10th Of March.
Gen. Scott has also sent in great haste to
the military commander 10 New Mexico, to
furnish strong eseor, to Capt. Marcy on his
return with mules and military stores for
Col. johnson.
1t is selieved that it is the intention Of the
MOrmons 10 Intercept the train, and commit
acts of Pillags and murder, If they are able.
H The newspapers Of yesterday bring
us news of the death Of Judge Kane Of
Philadelphia. Judge Kane was the father
of DR.. Elisha Kent Kane, the intrepid Arc
tic navigator, who recently died of copsump-
ton in Havana. He was also the Judge
who committed Passmore Williamson to
Jail, several years ago, for stealing Mr..
Wheeler's slaves.
eB A horrible case OF spontaneous COM
bustion is reported as having recently occu.-
red in Cairo, III. man named Faxon, suf-
fering under delirium tremens, entered
saloon and called for glass OF brandy
Immediately after drinking, his breath came
in contact with lighted match in the hands
OF bystander. and instantly took fire and