Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1859-02-09
BANK OF NORTH-CAROLINA.

BANK OF NORTH-CAROLINA
The bill to establish the Bank of North Carolina
was put upon its third reading
Mr. Cherry moved to strike out the amendments
making it compulsory with the board of directors to
establish branches at certain points. He desired
the directors to have discretion in this matter.
Mr.. Lane would vote against the bill if the amend
mcn relative to the branch at Goldsboro were strck
en- out
Mr. Cherry urged his former views He hoped
Mr.. Lane would not insist upon his amendment.
Mr.. Edney supported the amendment. He said it
was his intention to move for branch at IIendcr-
sonville One of the most eligible points in the State.
Mr.. Ramsay had added Salisbury, in order to Sc
cure something for that town, and he could not re-
linquish that branch till assured of something else
Mr.. Cherry thought Mr. Ramsay should not do
anything to cncumhcr this BILL after the vote Just
given for his bank bill 1t was very probable a
branch would lie established at Salisbury at any
rate. But it very certain that if this charter
should be tettercd by these amendments the
stock would not be taken He alluded to the diff
Guilty of getting stock under ordinary circumstances
Mr. Turner spoke ", to the hour Of recess against
the branches and the bank
The Senate took recess till O'clock
AFTERNOON SESSION, 3 P. NJ.
Mr.. Gilmore rose to a question of personal privi-
legc to dSciain any combination of the Western and
Coalfelds Railroad interest against the Cape Fear
and Deep River improvement
BANK OF NORTII-CA CAEOLINA.
The consideration of the bill to establish the bank
of North-C Carona was now resumed, the question
being the m,tion Of Mr.. Turner to indefinitely
postpone.
Mr. Edncy resisted the motion and advocated an
increase of banking capital generally.
Mr.. Landlord also opposed the postponemcnt He
preferred meeting the direct question lie believed
the present banking system to be founded in error;
it operated against the poor and in favor of the few
Mr.. Turner's motion to indefinitely postpone was
rejccted-34 to IL.
Mr.. Basnight was opposed to local banks.
Mr.. Cowpcr argued to show that the State had or
proposing to create banking capital to amount
of $4,000, 600, which more than could be pro-
ttably employed. He considered local banks curse
rather than a blessing
Mr. Steele was in favor of local banks, but advo-
Gated the passage Of the present BILL the best that
could be done under the circumstances.
Mr.. Cowpcr considered the State Bank had been
well and ably conducted and therefore ought to be
81 tanned in preference to any new one.
Mr.. Turner utterly opposed to local banks,
and said they, and they alone, had deprecated the
currency of the State. He was and had been in
favor of re-chartering the Cape Fear Bank and the
State Bank
Mr.. Cherry pressed his motion to strike oSlt of
the bill the location Of the branches wherever it
occurred He thought this matter of locating ought
to be left to the managers Of the bank The motion
prcvailcd-22 to 90
Mr.. Edney moved to amend the 18th section by
adding the word "lIendersonvillc" after the word
"branches." Rejected
Mr.. Leach moved to amend the 40th section by a
provso that the bank shall pay into the public treas
ury % per cent on the amount Of notes in crcula-
ton at the time of suspensions. Rejected % TO 90
Mr.. Houston moved to substitute Is per cent.
Rejected
Mr. BaSnight moved that she be required to pay
100 per cent, all her outstanding notes, in case
she suspend. Rejected.
Mr.. BlcdSoc amended by filing up the blanks of
commissioners TO open books for subscription of
stock
Mr.. Edney moved to reconsider the vote by which
his amendment respecting branch at Henderson
vile rejected. Rcconsidcrcd, and the amend
ment was then adopted.
Mr.. Mcdonald moved to establish branch at
Carthage. Rejected.
Mr. Bet'soe amended the bill by striking out of
the 4th sec $70,.0O and inserting $500. 200. also
making the number 10 Stockholders instead of II
and making the figures of the lth correspond
with those of the 4h and other minor amendments.
Mr.. Cowpcr novel to amend by providing that a
suspension for 6D days shall work forfeiture of the
charter.
Mr.. I}asnight was for putting banks on footing
with individuals in case Of suspension. He and
others had to meet their notes by warrant or suit
and why should not banks he required to do the
same?
| Mr. B!edsoe opposed Mr.. Cowpcr's amendment
and cited the case of the banks in Ncw-YOrk during
the momentary crises to show it to be imperative
| Mr.. Cowper's amendment was adopted-26 to Is.
The bill as amended was thcn rcjected-s5 to 90
| as follows:
| For tie bHl--Mcssrs Ble'isoe Carmichael, Cher
ry, billiard, Dobson, Edney. Flanner, Gilmore, Ilous
| ton Martin. Mckoy, Miller, Ramsay Rcinhardt
speight, Steele, Strnghan, Thomas, Ward and
! WilliamS-2h
| 1g0inst it.-Mcssrs. Ashc, Basnight Battle
| Blount. Boyd, Brown, Cowper, Cunningham, Davis
Douthitt Gorre, Guythcr. Lane, Iankford, Leach
Mcdonald. Mcdowell, Mills, Pitchford Pool, Taylor
Turner, Walkup Whitaker and Worth-25.
On motion Of Mr.. Flanner, the Senate adjourned
| HOUSE OF COMMONS
A few minutes before ten the House was called
! to order.
Mr.. Simonton presented memorial from certain
citizens of Irede relative to opening road in tina
county.
| NEW BILLS.
Mr.. Purdie introduced bill for the better regu
latlOn OF the town OF EllZa6ethtOWn, Biadcn county
Mr.. Hargrove bill concerning the right of way
| MESSAGE FROM SENATE.
The following engrossed bills from the Senate
were read the first time
A bill concerning Pilots at Ocracoke;
A bill to extend the corporate limits of the towr
of Swansboro';
A bill to revive an act incorporating the Will
mington and Smithville Steamboat Company.
| ENROLLED BILLS.
Mr.. Masten, from the committee on enrolled bills
reported the following as ready for ratification:
Jones;
The bill to incorporate Lake Landing Navigation
Company;
The bill to amend the charter of the Fairfield Ca
nal Company, and a number of private resolutions
UNFINISHED BUSINESS
The debate was resumed on the resolution appro