Nashville patriot. [volume] (Nashville, Tenn.) 1858-1860, 1859-11-19
Tho Tenenssec Legislature.

Tho Teaenssec Legislature.
The seventh week of the present session OF
the General Assembly, closed on Friday,
both Houses adjourning over until Monday.
The business is progressing slowly; but the
members generally seem inclined TO press on
Co the consideration of the more important
business of the session. Some advance is
made on the currency question. In the Sen
ate a copy OF Mr.. GASTT's bill has been in
trodnced. Memorials from the Directors of
the Union and Planters Bank respectively,
a king that their charters shail be renewed
aud continued for the term of twenty years
from their expiration. with such changes
and notifications as wisdom and experience
NAV suggest" and q bill has been introduced
for that purpose. On Thursday the Seuate
rejected a resolution offered by Mr.. PETERS,
Of Hardeman county, as follows:
Re.olred. BY the General Assembly OF the
State OF Tennessee, That it is unwise. unhec-
essary and inexpedient to create any Bank
charter, or re-charter OF any OF the existing
Bank, during the present session OF the Leg
islalure.
The vote rejecting this resolution was l6
to 6-six democrats. Messrs. HUNTER, JOHNSON
LANE, MIXxGs, McCLELLAND and SrovAIL,
voting in the negative. This is quite decisive
of the views Of the Senate on the expectancy
of an Immediate return TO specie currency.
A resolution has also been adopted directing
the committee on Banks of the two Houses
to inquire into the expedency of chartering
npy new Banks, or of renewing the charters
of any of the existing ones; also to inquire
into the eIpediency of winding up the Bank
of Tennessee, and TO report by bill or other
wise.
The subject of free negroes is enjoying tne
attention of both Houses, and a petition on
the subject with large number of signatures
has been presented in the House; but no
plan or bill has been perfected.
In the House of Representatives, Mr.. Nc
CABK has introduced IL bill for the relief of
the holders of the notes Of the Exchange
Bank of Tennessee making them payable
out Of the Treasury of the State.
The House spent the better part of two
DAYS in discussing the personal liability of
the stockholders in private interpretations,
and the question of the prOpriety of repeal
ing ouch charters at the discretion of the
Legislature. The question was made on a
bill to charter the Memphis and St. Louis
Packet Company. The following amend
nents were Incorporated in the Bill on its
last reading, which may be taken fair
manifestation Of the views of the House.
BY Mr.. LEA:
Pro,iaed. This charter and the charter of
the St. Louis and Memphis Packet Company
shall be subject 10 all general laws which
may be passed hereafter in regard to steam
boats, steamboating, commerce and naviga-
ton.
This amendment was adopted, yeas So,
nays II.
By Mr.. GUY:
Preceded, That the property of the company
hereby corporated, shall be liable TO the same
tar that property of the same species belong
ing To the citizens Of The State is now Liable
ar may hereafter be liable And Provided
further, that each and every citizen OF the
State, who may be able to bring himself
within the provisions of this act shall be in
corporated with the same rights, privileges.
under the same liabilities and restrictions
herein named.
The nrst clause III Eeiullou W thAcs pdS0eu
unanimously in the affirmative; and the
second proviso was adopted, yeas 81, nays IA.
BY Mr.. CAN'T:
l. That no part of the capital stock or pro.
perty of the corporation shall be Withdrawn
or applied 10 any purpose, but the Legitimate
business of the company as provided by the
charter until all the debts of the Company
are paid aud if the Board permit The same 10
be done or fraudulently or wilfully misman-
age the affairs OF the Company so that loss
occurs to the creditors cf the Company, then
the Board shall be individually held Tor such
loss.
e. Company shall not commence business
till half, OF capital stock is paid in, and moth
ing shall be received in pay ment OF capital
stock but gold and silver, notes Of specie pay
ing banks or properly at fair valuation to
be us, d in business of Company.
s. If corporate property not sufficient to
pay debts of the Company, then the cOrpo-
rators are to be Individually held for their
proportion Of corporate debts, provided it
does not exceed the dividends received by
such corporation from the business OF said
Company.
This amendment was adopted by yeas so,
nays 81 And so the bill finally passed
yeas Al. nays q. a direct vote on the per-
sonal liability of the stockholders was taken
and resulted, yeas 81, nays 3S: And also
on proposition TO makg the charter repeal
able at the discretion OF the Legislature
yeas 35, nays 81.