Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1859-12-11
.,z-.., $50 LEelsaAruRE.
gENATE
s.,rsp.g psas. mber 10, 1879.

y 'n' 'p''N PETITION
M. PAYNE presented petition FROM the vO'srs
: me towo of Macon. praying tse esaelsaeil' q !"
aw prohibiting the sale Of fpritaous -
,ept for medicinal Irp9s g. wi hd lour miles u 'N'
corporate limits of the town
BILL INTRODUCED.
b. Mr.. BOYD. No. lI6-Fo incorporate the Ghy I
Railroad Company of Knoxville. Passed hrst resu-
HOUSE BILL ON svcosD READTEG.
No 1C4 To revive the act of the 2lst of Febru,
ary. 1852 chapter 49, in relation 20 me riu uA'
Protection Fire Insurance and Life and Trust Com
paBy of Trenton. Passed
SENATE BILL on SECOND READING.
No fs4-To incorporate the Hickory Grove
Academy in Weakley county. Passed
THE .'BAsK CODE"
s.Dsts hill No. I06 t. reform aud regulate tho
business of banking IN Tennessee ecming up IN
regular order ,r,.
,evo doilars." in the sccoal section, and insert
6. Ten dollars" which motion svliled
Ar. STOKES moved TO amend the section by add
ing the folio wiGg provis'.
Pr.vided the Bank Of Tennessee may issue
not g of the Denomination of five dollars"
The amendment was adopted.
Mr. STOKES moved 10 striks out the proVlso 10
the fifth epclion an iGssrt the following:
uProvided however, it may receive mortgages
and assignments for debts previously contracted
and purchase in zeal estate ttu5 NOR gagea OF as
signed and purchase in llnds sold at exeenhnh
sale under judgments IN lt9 faEo- or rede D iAhu5
snhiect ia redemption in order 10 secure its bad and
donbtful deb.s; but it sha net hold the same for
longer period than three year5
Tie motion preya'i'd
Mr.. MeNEILLY moved TO rike out "twenty
wears" in the nth section, and insert hfleen
wears" which motion prevailed
Nv STOKES moves to strike out all after the
words for 50 doing" in the twelfth section which
motion prevailed.
Mr.. STOKELY moved 10 strike out all after the
words permit the same to bs DONE" in the four
teepth scction and insert shall be gully of feo
nv and on conviction g shall be imprisoned in the
Peniteutiary not less than five nor m1re than TWEEN
~ vears and fined q sum not less than two thou
sand dollars"
Mr.. BUMPASS moved 10 lay the amendment up
on the table
Mr. SrOKELY demardsd the ayes end noes,
which were taken and resulted eyes II, roes lO, as
follows:
1ya-Massrq. Alien. B1yd Bumpass Horn,
Minis Mcclellan McNeilly. Nash, Payne, Rich
ardpon Stokes and Stnval--l2
Noss-Meesrs Bradford, Hildroth, Hunter John
son, Lane Mickey. Peters, Stokely, Thompson and
Speaker Newman-l0
fifteenth section. follows:
"Sec Is Be Il further enacted That no person
shall he director in any bank who Is not cliiz'n
Of this State; TOR shall more than t"o-thrdS OF
any bank directory he stockholders IN the panK ~
which they act as directors; and no director IN any
or er bank nor partner in trade of such director,
nor two persons trading in partnership at the same
time shall he eligible capable Of serving IS d.
recors in such bank"
The amendment was adopted.
Mr. MINIS moved to insert after the words
" Governor" in the eighteenth section. "and con-
frmed ny the Senate, who shall hold bis otice 1or
two years - and t, the secticn the following;
"In case the Supervisor shall die, resign or re-
move between the sessions of the General Assem-
bly, shall be the duty of the Governor to appoint
for the unexpired term"
The amendment was adopted.
Mr. STOKES moved tn insert after the word
Attorney General to file hill" in The twenty
third section in the name Of the Supervisor,
which motion prevailed
Mr. STOKES m6=ed TO insert after the words
"Registry Book Of the Bank" in tho twenty
fourth section, land certified" which motion pre-
vailed
Mr. MICKEY offered an amendment to the bill,
the following additional section:
"That all banks nr banking iucorporstio0s here
after established under this law, in the State Of
Tennessee, shall b. under the supervision of the
Legislature 70 alter or smend as they in their wis
DOM NAV think rrnner."
Mr.. MICKLEY demsnl led the ayes AID Reas upon
the adoption Of his empDdmc f, which were taken
and resulted ayes g noes : rs follov':
Aues-Mpssrs Hildraih, Hunter. Johnson, Mick
ley. Peters Stovall. Thompson and Newmau-8.
Noss-Messrs Allen B1vd. Bradford, Bumuqss,
Horn. Lane, MINIS Mcclellan. McNelly. Nash.
Payne Richardson, Stokes, stokelv, and Trimble-
IS
So the resolution was rejected.
Mr. LANE offered an amendment to the hill as
an additional scctian, f7lloWF:
HAud be Il further enacted That if any bank of
this State shall suspend snseie payment, the note
holders thereof may present the g. me for payment
and II payment is refused said noto-holder may
have such notes protested and shall receive inter
est at the rate Of six per cent per sunum from the
date Of protecting, and the cost Of protesting
Mr.. STOKELY moved to amerd the amendment
by striking ''sx per cent and inserting Twelve
per cent" VIII 'cA motion failed.
The amendment vas thea adopted
NJ. STOKELY offered an amendment to the ill,
as follows:
s'Bs IL further enacted. That should any hank in
coruoraed under this set violate any If the pro-
visions Of it's charter, any competent court 30 de-
Gliding, may declare the ch1rter Of such bsnk for
feitpi and st shall be declared null and void"
Mr.. STOKES moved TO lay the amendment on
the table
Mr.. SrOKELY demanded the ayes and noes,
which were taken, and resulted, eyes y, noes 6, as
follows:
.4yss-Mcssrs. Allen. Boyd, Bumpass Horn. Hun
fer, Johnson, Lsne, MINIS. Mcclellan McNcilly |
Nash Payne, Peters, Richardson, Stokes, Stovsll
and Trimble-l7
Noes-Messrs Bradford Hillreth, Mickey, !
Sscbely, Thompson ard Speaker NeEman-6.
S the amendment was laid upon the table.
Mr.. STOVALL entered mot On to reconsider the |
vote laying the amendmeut upon the table.
On motion Of Mr.. MINIS, the motion to recon
slider vas taken UD. and
The Senate refused to reconsider the vote lsyiDg |
the amendment upon the table.
Mr. HILpRETH moved to strike out all 10 the
nineteenth section after the words "propeyty of
ssid bank" and issert at shall be felony in
these guilty of the same and punishable on con-.
yiclion by imprisonment il the psnitentisry of the
State for period Of not less than three nor more
Than Tvs years"
On notion of Mr.. STOKES, the amendment wss
aid upon the table.
Mr.. PETERS offered an am ndment to be al ded
o the tweDty-siKth section as follows:
" And all the stockholders asserting thereto
hail be liable in like manner"
The amendment was adopted
NJ PAYNE moved tt, user after the words "pay-
lbs g. the counter OF the principal bank" in the
ecOnd section, " and the principal bank is to be
egaTded az issuing all its under ne word issue
ssd in thefrst (secondJ line Of this section;" which
notion prevailed.
Mr. THOMPSON offered an amendment to the
ill as follows:
BE 1t further enacted, That all banks chartered
nder this shalt legally endorse in trust 10 the
Comptroller, and deposit with him, public securi- !
les of The State of Tennessee now or hereafter {
ssued, or securities issued by any incorporated
0mpsny endorsed by the State, or securities issued
y the United States, TO TIE amount which said as
0ciation may wish to commence business with, not
ess, however than the full amount OF capital
pom which they intend to bank. Said securities
hall be, or be ma lie equal to a stock producing I
tx per cent per annum, aad shall be worth on |
ale for gold and silver one hundred cents on the
Ollar."i |
Mr.. THOMPSON demanded the ayes and noes
pom the adoption of his an .adment, which we're
lken and result ed ayes s. noes 10 as follows:
Ayes -Messrs. Hunter, Mickey, Peters, Thompson !
nd Speaker Newman--5.
Noes--Messrs Allen, Boyd, Bradford, Bumpass !
ilirsth, Horn, johnson, Lane, Minnie, Mcclellan :
IcNeilly, Nash, Payne, Richardson, Stanton, :
tokes Stobely. Stovall and Trmbla--19 =
So the amendment wBs rejected. +
The question then recurring upon the passage Of h
le bill as amended, uPoa lis third reading the y
yes and nOas we're taken, ADD resulted ayes IS i
ors s, az to,lyw,: f
Ayes-Msssrs. Allan, Boyd Bumpaes Horn, a
unter, johnson, Lane, Minnie, Mcclellan, Nc u
ell y Na h, Payne, kichaI dsOn, Stanton, ST, kes t
I'd Trimhlc.--l6
Noes-MessIs. Bradford, lIillretb, Miekley Pc b
"a. Stok,ly, Stovali, Thompson, ami Speaker Nev-
as Il