Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1860-03-22
n.o wnrrnnto nln.Pas.ed..pebnts.


to regulate the practice Of The Supreme aud
District Courts in this State, yeas ~ nays
20. Tho bill gives proceedings in tho District
Courts in the nature Of quo warIaniO prefer,
snce in the order of business on the docket
over all other cases, and gives stockholders
representing one fourth the capital stock Of
any banking institution authority to procure
the eopmensement of quo warranto proceed
ings by fling the proper affidavit. The object
Of the bill is TO compel banking officers to an
swer at once, charges that may be made against
them Of abusing and violating the charter under
which they act.
Though The act has ucusual local interest in
this quarter, it is one Of general application
and necessity. We .hsrefOrs append .kst-h
of the debate in the House on the question of
its passage rcrar
Mr.. Nigh explained the objects Of the bill,
which he said were to protect stockholders Of
banks by correcting certain abuses which he
said had been pTRctioed by officers of banking
institutions. He said that the bill would not
effect honest bankers.
Mr.. Woods said that this bill had its
friends and its opponents. Its opponents had
charged that this bill was gotten up for spe-
cial purpose to effect particular controversy
to which the Forest City Bank OF Cleveland Is
party. He would therefore offer an amend
ment providing that the provisions of the bill
shall not Apply 10 any existing controversy OF
cause pending.
Mr. Andrews hoped the amendment would
not prevail. Ho regarded the bill as right
in principle, and if right in principle, he
could not see why the provisions of tue
bill should not have a uniform operadon.-
The proposition was sO simple and easily
understood that be could see no possible
objection, and he could not understand how
other gentlemen who had examined the bill
could object
Mr.. Voris said we should have very little leg
islation, If we did not act upon suggestion.
from past and present cases. The provision.
of this bill wsre demanded by the public good
| II we had such a Law, the public might hav,
been saved great loss by the Seneca County
Bank ....
Mr. Harlan said that these banking institu
tions owed whatever life they possessed to leg.
isIation; that peculiar powers had been con,
ierred on them and certain restraints had been
imposed upon them which were designed tc
guard against abuses. He said if these re
strsints were insufficient to protect citizens from
the enerOachments and swindling operations o
the officers we are responsible if we do moi
use whatever power we possess to put stOI
such abuses He said that some of these IN
stitutions were reeking with corruption. Ht
said that it was the custom ofthe directors auC
officers Of some of the banks of the State t.
/ refuse to discount notes to customers, while al
the same time they were lOaning money of the
bank, as individuals, at the rate OF two or threC
per cent per month. They laugh at the effort.
of those who through the Courts attempt tC
bring these gentlemen to their legal response
bility. They know very well that proceedings
in the Courts can be put of from year to year
and all the while they carry on their nefariOu.
practices Of swindling the honest stockholder:
and those who borrow money. He said tn,
passage of the bill was demanded to meet al
urgent necessity.
Mr.. Blakeslee opposed the amendment. ant
then alluded to the memorial of Mr.. Sturges
(which had been circulated in the House, which
charges the Speaker with undue efforts to pro,
cure the passage Of this bill, from private and
sinister motives.
Mr.. B. testified, that though a colleague o.
the Speaker. be had never heard him speak Of
the bill He spoke of the lobbies who had
! bored him on the subject. and said he should
have paid no attention to them had not these
unjust charges been made against the Speaker
Mr.. Parsons said that he had intended to say
nothing about this bill, but a circular having
| been laid upon the tables of members, in which
be was personally alluded 10, it became him O
make a personal explanation to the HOu, e. He
said he thought it derogatory to the character
/ af nf he 20 off .
use his influence to procure the passage of a
law which might result for his own benefit
snd though his interest in this bill was com
paratively small, he had avoided speaking upon
the subject to any member of the House, and
be called upon the members to say whether he
had ever directly or indirectly spoken of thi:
bill to any member, or in any way urged the
passage of the bill. When spoken to about it
he had uniformly refused to give the shghte
explanation in regard to it. Several members
here arose and stated that they had applied tc
Mr.. Parsons for Information on the subject Of
the bill, but received no other reply, than that
Mr.. Parsons refused to say anything upon the
subject.)
Mr.. P. said be had, after objections had been
made to the passage Of the bill through the
Senate, on the ground that he was interested
explained the whole matter of his interest tc
Senators; but upon this floor no word had
passed his lips upon the subject; and he had
never spoken of any of the parties opposing the
bill in any other manner than with entire respect
and courtesy. He thought this explanation due
/ to the House and to himself
Explanations were made by other members
as to the relation of the Speaker to this subject
Mr.. Woods explained the past history of this
bank under which proceedings had been com
menced; and said that against the present di-
reetors Of the bank, there was no complaint -
He thought the bill was cunni1gly contrivej "a
let the very man escape who was the one in.
tended to be brought to justice.
| Mr.. Vincent said he hoped if il would defeat
/ the bill, that all reference TO the Forest CITY
Bank would be stricken out; for he knew Of
two or three other banks that he wanted to ap.
| ply il TO- Il was singular that this bank should
have taken alarm at this bill; and be hoped il
would be passed before others took a like
alarm.
Mr.. Nigh gave history of the bill in the
House, and said that no honestly conducted
banks had made opposition to it; while severa
suspicious ones had.
The vote was taken on Mr. Woods amend,
ment, which resulted-yeas 81, nays 50.
The bill was then passed-yeas ~, nays %
Orr FOR PKE's PEAK.-A party of seven
Il Il