Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1859-11-17

Of the excess, but 10 no case enaA uiViu7nu Oo
paid without first leaving the credit Of profit and
loss sum sufficient TO cover all the debts cohsiasI
ed bad and doubtful.
SEJ. Z. BE 4 enacted That said corporation snail
not purchase or hold their oWn stock, bat may re-
ceiye il in payment for bad doubtful debts, or for
the purchase OF real estate and 10 such cases the
stock shall be conveyed to third party in Trust TO
be sold By him for the benefit Of the Bank
SEC s Be il enacted, That the terms ''specie
funds' wherever used in this act, shall mean debts
due Oh demand FROM other solvent Banks and the
noes Of ether solvent B 81 ks payable on demand.
SEC. g. Be IL enacted, That as bonus for the priv
ileges hereby granted said corporations shall each
pay to the State OF Tennessee, on the lst day OF
Jaauary in each year, one-hsH of one per cent on
their actual capitals respectively; this sum to be in
lieu Of the sum provided to be paid as bonus under
SEC 10. Be IL enacted, That said corporations
shall not charge receive larger rate OF discount
than six per cert per Gnnum upon any promlsory
nOts o. ti Of exchaogs payable within this State,
but NAV charge in addition 10 the SIX per cent dis
count The cost OF collecting notes or bills payable at
points where neither the Principal Bank nor its
Branches are loo ,ted.
6Es II Be 1t enacted, That on all bills Of ex-
change drawn on points in and ofanothcr State, said
generations may charge in addition - six per cent
per auuum discount a reasonable sum as for ex
change.
z.
always keep on hand gold and silver coin equal to
oue.fourth Of their circulation respectively; and
shall always keep on hand gold and silver coin and
specie fuQds ,oge her. equal to one third of their
,u and other immediate Liabilities respect
lively: and in the event of q deficit Of either CON-
or com and specie funds Aforesaid. any time,
in ths uropariion aforesaid, for the space of sixty
DAYS together all discounts by the Banks shall
till the coin or coin and specie fonas restored
to these proportions respectively Aud in no event
shall tAis deficit of both or either Of said proper
lions continue longer in any one year than seventy
five days in all.
SEc Is. Be IL enacted, That said corporation.
shall oe open at ali times to visit, from the Legisla
ture or any committee, Visatoria officer that may
be appointed for that purpose.
SEC IL Be e enacted That said corporation!
shall pay such proportion of the salary of OfHce
or offisers, to act as sitor of Gnks," Qf suct
shall be heresfer appointed as the Legislature M 81
hereafter provide.
SEC Is. Bet enacted, That should said corpora
tons or either Of them at any time fail or refuse Il
make payment Of their notes in gold and sllVe
coin upon demand, in addition to the penslty pro
vided in their original charters, the defaultng Banl
shall nay into the Treasury of the State cne-haH
one per cent its actual capital for each month o.
fraction of month, that it 30 remain in suspense
Of payment. Ard in no event shall said Bank re
msia in such condition fer longer time than sil
months at any one time.
SEC IG. BE Il enacted, That for legally ascet
tanned wilful viOlstiOn Of any of these provisions
smsndatory Of said original charters, the Legisla
ture shall have the power to amend, alter or repes
the charter of the Bank guilty Of such violatisn
SEC. Il. BE il enacted, That whereas, the State o
Tennessee has sold out the stock heretofore held b
il in the Union Bank of Tennessee the affairs o
said corporation shall be administered by clever
Directors to be elected By the stockholders
SIC. IS. The stock of said Banks shall be as
siguabo and transferable, according to such rule
and ordinances shall be prescribed By the Presl-
dents and Directors thereof.
Fae bill passed first reading and was referred Il
the Committee on Banks, together with the memo
rails on the subject
On motion of Mr.. RICHARDSON, il was ordered
that one hundred md fifty copies Of the bill ant
the memorials from the Union and Planters Bank
be printed for the use Of the Senate.
By Mr.. WOOD: No. 108-To prevent the salt
and manufacture Of sdulterated liquors. Passed
first reading, and referred to the Committee Tip
ping and Tippling Houses.
by Mr. PETERS: No. 109-For the benefit 0
the creditors Of deceased persons. Passed frs
reading.
By Mr.. STANTON: No. lI0-To charter turn
pike from Granville to Salt Lick creek in Jackson
county. Passed first reading.
RESOLUTIONS.
Mr. MINIS offered the following resolution
Wharess, the STATE Of Tennessee recovered, il
the CrIminsl Court at Nashville. judgment agains
Charles Foster and Patterson West for 81 300
that execution was sent to A A. HYDE ESQ ar
attorney at Jasper, Tenn, who had said claim
levied on lands which we're purchased for the bene
fit of the STATE; that said attorney rendered impor
tsnt services TO the State and that there feet
and commissions due the sheriff Of Marion county
be it therefore,
Rssolpsd, That the Committee on Claims take into
consideration this claim, AMI report By bill OF
otherwise.
On motion Of Mr. MINIS. the rule was suspend
ed aud the resolution. was adopted
Mr.. STANTON offered the following resolution
R.soIOed, That the Comptroller Of the Treasury,
the Secretary of State, aud Treasurer are hereby
requested report to this Senate ct as early time
as practicable, Che amount Of contingent profits or
perquisise attaching their respective Offices, over
and above their salaries fixed by law, within the
las; year. and the last entire term Of said Offices as
near as they can estimste The same.
On motion of Mr.. LANE the rule was suspended
and the resolution was adopted.
HOUSE BILLS ON SECOND READING.
No 40 regulate the practice in obtaining writs
of error Passed.
No $50 establish the Seventh Chsnoery Divi-
sion Of Tennessee. Passed and reoommittcd to the
Committee on the judiciary.
HOUSE BILL on THIRD READING.
No. IL To repeal sections 1856, inclusive, to
1891, article l, Chspter 8, part 3, Of the Code.
Mr.. TRIMBLE offered bill in lieu, entitled Gan
act to place actions brought under sections 1885,
, sS7, 2,e88, 1859, 1880 and 2 S9l, equality
with other suits brought" which was read as fol-
lows:
Section l. Be il enacted By the General Assembly Of
the State Of Tennessee, That actions brought under
sections 1886, 1857, 2.8eS, 8s9, 1880 and 2
S9l, Of article LIST, chapter 9Th, part Sd, Of the
Code, shall be and are placed on q footing with ali
other actions, in this, that said actions shall not
stand for trial at the fast return term but shall
like other actions, sand for trial at the second
term, and in judgment st second or trial term, and
ter the adjou nnen of said court executions shall
Issue thereon now prescri led by Law.
On motion Of Dir. MINIS, the bill and smend-
ment were ejmmitted 10 the Committee on the Ju-
dietary.
SENATE BILLS ON SECOND READING.
No 100-PO amend sec on 2, l07 Of the Code.
NJ. NASH, offered an suep iment TO the oil,
which read as follows:
"And also that there be retained in the hands of
each mechanic in this State, fifty dollars worth of
lumber or material"
Mr.. LANE, demanded the ayes and noes upon the
adoption OF the amendment, which were taken and
resulted ayes I, noes 10, as follows;
Ayes-Messrs. HildreIh, Hunter, johnson, Mach,
Stanton, Stokes, and Speaker Neynsn-7.
Noss-Messrs Allen, Boyd, Bradford, Bumpass,
LBney AllnnlSY McClell8n, MoNelllyy refers, hion-
ardsOn, Stokes, StOVal, Thompson, Trimble, and
Wood-15.
80 the amendment was rejected
Mr. NASH offered an amendment to the bill,
which was read as follows:
"And that in section ., 107 of tHe Code, which
says, lone bureau not to exceed forty dollars in
value be and is hereby repealed"
The amendment was rejected without division. |
The bill thea passed on it's second reading
No. Lotto unite the City Bank of Nashville and |
he Bank Of Knoxville. Passed.
SENATE BILLS ON THIRD READING.
No. 29-TO prevent the annoyance of free ne
yroes travelling on the railroads in this State.
The Committee on the Judiciary recommended Q |
oill in lieu, which was read as follows:
bill to amend the laws in force in relation to |
emsuUipated slaves and free persons of color.
SECTION /. Be Il enacted by the General assembly
# the State Of Tennessee That il shall not be lawful
Or any person by wilt deed or in any other way,
lireolly in trust either express secret or 9TH
rWise, to make any disposition Of any slave or
lsves for the purpose with the intent to eman-
ipate such slave slaves in this State or else |
Vhere unless such person, some other person for
i'm or ner, shall, at the time Of making such will
Iced or effort to emsucipate provide fund in money
T property convertible immedis ely into money,
utf sient in Gmcunt to pay the expenses of trans
oring such slave slaves TO The western COST Of
Ifrics, aud TO support such slave or slaves six
lonths next thereafter, and all wills, and DISPOSE
ions trusts or other arrangements made, had or
I,ak ha |