Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1859-11-17
L.. IL. Lauier.
REPORTS rEom srArD1Ee ConMIrrEEs

NJ. McEEILLY. from the Committee on Educa
ton aud Common Schools, returned Senste bill No
49,, to incorporate the school districts aud to au-
thorse the inhabitants to tax themselves for school
| purposes, and recommended its rejection.
| Mr.. WOOD, from the Committee on Ways and
Means, returned Senate bills No IA to regulate the
salaries Of State Treasurer and Secretary CT State
and No. So, to insure sherifs their fees in certain
cases. and recommended their passage, after amend
ing the latter.
Mr. MiENIs, from the Committee on the Judici-
ary, reported as follows:
| The Judiciary Committee have had under consid-
GRAFTON Senate bill No 100 ga bill to amend section
2,l0T of the Code" which proposes to exempt from
! execution sewing mschine, and majority of the
Committee recommend the passage of the bill.
They have also had under consideration House
bill, No 4, bill to regulate the practice in OBJ
tsihing writs Of error" and unanimously recommend
the passage Of the bill.
They hsve also had under consideration House
bill No 35, bill entitled an act 20 establish tbs
Seventh Chsncery Divivsion Of Tennessee" A
very decided majority of the Committee are decid-
eddy of opinion, that from the increase Of business
in these Courts the contnuslincreas Of the Courts
the immense lsbOrs that have tn he performed by
the present Chanceors, that it is necessary tn
ate new division. The Committee ars not fully
satisfied thst some change should not be made in
arranging the counties and Courts composing this
new district. There are also some blanks in the bill
that require to be filed. A majority of the Com
mittee direct me t. report recommending the pas
sage Of the bill its second reading, and that it
be recommitted.
They have also had under consideration Senate
hill, No. 90, "a bill to prevent the annoyance Of
free the railroads in this State"
and they have instructed me to report bill in
lieu, - bill to amend the laws in force in relation
to emancipated slaves and free persons Of COLOR"
and recommend lis passage.
BILLS INTRODUCED.
By Mr. TRIMBLE: No 10Y az fellows:
An act TO revive and extend the charters Of the
Union and Planters Banks of Tennessee.
Whereas nv an act of the General Assembly Of
the State Of Tennessee, entitled, can act to cha
ter the Union Bank of the State of Tennessee,
passed October 18TH 1882. body politie and cor
porate was formed to be STYLED ''The President,
Directors. and Company Of the Union Bank Of thu
State of Tennessee" and whereas b. an act Of the
General Assembly Of said State, entitled, IAN act
to establish the Planters Bank Of Tennessee"
passed November 18th, 1888, body polite and cor
poraie was established, tn be styled The Planters
Bunk of Tennessee" upon both Of which bodies
corporate were conferred certain privileges and
powers, and certain duti and obligations imposed
aud with certain stipulstjoDs and provisos regard
ing penalties and forfeiturps to continue until the
let day of January, 1868, and no longer; and
whereas, under aud By virtue Of said acts, "Fhe
President, Directors and Company Of the Union
ters Bank of Tennessee" did take effect and become
c,rporations aud have been carrying on banking
operations in the city Of Nashville, and at various
branches in the State of Tennessee; and whereas,
by amendments to said charters made by said Cen
eral Assembly, and accepted by said corporations,
other provisions have been made binding upon said
corporations; aud whereas, By the terms Of said
acts, the time is approaching when said charters
will expire; and whereas, it is believed that 1t is
for the public good that said charters should be re-
ueWed and extended, with certain amendments and
alterations therein, therefore,
SECTION l. Be It enacted By the General Assembly
of the State of Tennessee That "the President Di-
rectors and Company of the Union Bank of the
State Of Tennessee" under the name Of "The Union
Bank of Tennessee" and &" The Planters Bank of
Tennessee" be and continue bodies polite aud cor
porste until the lst day Of January. 1888, with all
the powers and privileges duties aud obligations and
subject to ali the sipulstions and provisions Of said
acts Of the 18Th of October 1882, and the 10Th Of
November, 1883, and the acts amendstory thereto,
as now binding each respectively, except so far
as the same are altered repealed or modlhed By the
SUBSEQUENT sections of this act aud that the exist
ing stockholders Of said corporations respectively
Tor those who shall be such at the time of scoep-
tsncel shall have until the day Of IS, to accept
this renewal or extension Of charter.
SEC . Be IL enacted That the capital stock Of
said Planters Bank Of Tennessee may be increased
TO the sam of two millions Of dollars; and that
aid additional stock may be subscribed for at the
Principal Bank at Nashville, without any right OF
the part of existing stockholders, at
any time within two months after the acceptance OF
his s1teEsion of charter and until the whole ad-
iitionsI stock shall be tssn; no individual comps
nv or corporation being SLOWED to take or subscribe
OR more than shares until ak months after |
he book shall be opened for subscription.
Sac. s. Be IL enacted That said corporations shall |
lot ISSUE nor including their issues have prepared
or issue at any time. exceeding one dollar and
,slf th bank notes for every dollar Of CAPITAL
,c,rsIIv psiS Ia the notes 30 to be issued may be
made payable either St tbe Principal Bank or any
f its Branches on demand, bat sfsll he paid either
I the PRINCIPAL Bank or the Branch where payable
N their face at the option of the holder
Syc. ( Be II enacted That neither said Banks
or tn ir Branches, shall at any time pay out for
ircuIston any ether heu the notes so 10 be issued
y the D Fespeoi yely.
SEC, 5 Be il enacted, Thstca Banks shall psks
tstemeots quarterly Of their affairs TO the Comp
,nler nf the State on the first Mondays in January,
pril July and October, of each yesri which steie-
&C sball embrace under separate heads, the fol-
wing itsmg. viz: The amount tbs Bank then has
pder diseouns il notes and hills OF exchange; me
mount of notes ana biks tp suit; the amount oil
otes snd bills oTsrdus net ia su,ts the amoant in
std in real estate the amouut Of Rotss OF oiAer
Nhka on hand; the amount Of go'd ana silfeF IL
vaults, the amount due from Banks IN Tennes- |
,e the amount due from. Banks out Of Tennessee;
e amount due to dspesiGoFsj the whole amount Of
ties prepared for circulsuoni the smount Of
en- actually in circulation the amount 70 the c
edit AZ rrost and losa and any other liabilities Of
e oornorations, sad that these statements shall c
verfed BY the Osths Of this presidents and cash
re respectively.
SEC. 6. Be Il enacted, That on the LIST days Of t
Inuary and July of each year, the nett profits Of
e said generations of the previous Blk months,
sl be carried 10 the credit Of profit sHd loss on
e books Of the Bnnks; at the same time the pi t
ctors shall make thorough examination OF all the o
sets then held and owned by the Banks respective
and If the debts considered bad and doubtful II
mount to much or more than the nett prohis OF .
q previous six months, and IL the debts cen b
Tered bsd and doubtful amount e 90 much 9