Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1859-11-18
TENNEssEE nEersrarUnr.
AFTERNOON SESSION.

| "HU-'-SDAAJ N0bemDsr 10, AoOS.
The SPEAKER called the House to order. and
stated the question TO be on Mr.. CheAthans amsLd,
meut, incorpoI atBg the Nashville and New Orleans
Packet Company, TO Mr. Farrtl,y's bill I'll 4 81. I
incorPora.li the Memphis AKA st. Lpuls Packsl
Company.
Mr.. LEE moved to amend the amendment as fol.
lows
L Provided, This charter and the charter Of the ST
Louis and Memphis P.cket Company shall be sub
ject to all general laws which may be passed here
af.er in regard TO steamboats,, sIesnb0aIing, con-
merce and aUgatior.'
This amendment to The amendment was agreed to
| by yeas 5o, nays II
| The amendment as amended was adopted
Mr.. GUY moved to amend the bill as follows:
Prorided, That the property of the Company here
| by corpora ed, snail be Liable to the same tax that
property If the same species belonging - the eit
Gems VI the State is NV liable, may hereafter be
liable. And Provided fur her, thai each ard every
citizen Of the SIa;e, who may be able bring hm-
self witbin The provisions Of this ect shall Le in
corporated " tn ,he sams rights, privileges under
the same llabiiiLe- and reslrIcLIons herein named
mir. FARRELLY moVtd-tO lay the amendment on
the iable.
The motion was rejected-yeas "a, nays 81.
Mr. EAST demanded DIVISION Of tue question
The tax clause Of the amendment Was adopted by
yeas ", nAys0.
The second proviso WAS read.
Mr.. EWING thought this part Of Tue amendment
Would amount 30 nothlng aud that we were fooIing
away Cur time in the consideration Of il.
Mr. TREWBIFP thougat it was time enough to
Incorporate individuals Hhen they applied for acts
of incorporation.
Mr.. BiCKNE L did not think We ought to grant
the exclusive rigRt Of navigation to any company
whatever.
Mr.. FARRELLY, called for the reading Of that
portion of the bill which prevented them from
claimiog that exclusive right, aud II was read.
Mr. GUY said the ijzct .! the amendment was
to put individual capital Gpon sn equal foiRg with
that of capital associated
The sesoId proVis1 in the amendment was adOEt-
ed-ysas 81, nays IA.
MIR. CAN'T moved 10 amend as follows:
l. That no pant If tae capital STOCK or property
Of the corporation shall be Gnhdr4wu or applied
TO any purpose but the Legitimate business OF the
company ss rOyided by the easiter until sll the
ie6Is of the Company are paid, and if the Bosid
permit the same 10 LIE dine, iraudIlentiy will
fully nismsnSge the affairs Of the Company 30
that l0ts occurs to the creditors Of the Company,
then tAe Board shall be individually held Tor such
Lose.
g Company shall not commence business till half
ef capiLal stock is paid in, and nothing shall be
rsctived il pay meRt Of capital stock but gold and
silver, notes Of specie paying banks, or properly
at fair valuation t. be used In busidnes Of Com
pmy.
9. II corporate property not sufficient to pay
debts Of the CSmpony, then the eerPoratlrs are 10
debt, provided it does not exceed the dividends
received by such eOrpOratoTS from the business Of
said Company.
Mr.. BEATY made an inffsctual motion to strike
ou; the oEds property st fair valuation" where
they occur in the amendment.
The amendment vac adopted by yeas 80, nays 81.
Mr.. LEA moved to amend by providing that the
cspial stock shall not be sold without giving three
months notice by newspaper publication.
The smsndment,Wss ad pied BY yeas, 40, 81.
MIR. EAST den anded the previous question.
Mr. WILLIAMS, of Hickman, moved TO lay the
bill on the table.
The motion was rejected by yeas 81, nays Al.
Mr.. EAST withdrew his demand
Mr.. CuEATHAM moved to reconsider the vote
by which his amendments to the bill we're adopted
He offered them in good faith, and at The instance
of msny and for the good If all of his constitu-
ents. lie made this motion because he did not
want to stsnd in the light Of blocking any gentle
mans bill by Offering amendments, He desiI ed the
original bill should pass, and although be
ry party had been brought into this question, be
cal ed upon his side Of the House ta sustain his
mott ~ and be hoped the friends Of the bill on the
o her side would sustain him
Mr.. WILLIAMS, of Hickman. made an ineffectu-
sl N orion 10 lsy this motion on the table-yeas 35,
nays 36.
The motion to reconsider was agreed to-yess sc,
nays 35
Mr. CHEATHAM demanded the previous question.
The demand was not seconded by the House
yeas "a. nays 81.
Mr.. CHEATHAM asked leave to withdraw his
amendment.
An Intellectual motion to adjourn was made at4.10
o'clock-yeas g. nays AZ.
Mr.. CHEATHAM had leave to Withdraw his
amendment.
Mr. DAVIDSON moved to amend by adding to
the bill the 29.h section Of article Of the COnsi
of Tennessee
Another Intellectual motion was made at ~ o'clock
to adjourn--yess so, nays &c.
And then
On molten the House adjOurndd till o'clock to-
morrow morning.