The Nashville daily union. [volume] (Nashville, Tenn.) 1862-1866, 1865-05-17
.6Gashrille &lui0u.
NJ. CI4E8Os q 90, Fa0IlsaeF,.
WEDNESDAY,, Wy I7. lss5.
The Rank OF Tennessee.

Ihc BANK OF Tennessee.
A very. important bill relating to the
Bank Of Tennessee, introduced Mon
day in the House Of Representatives
by Mr. Mullins, passed on its first read
ing and was referred to the Committee
on Banks.
The first section provides that there
shall be only Eve directors OF the Bank
Of Tennessee, at Nashville, one of
whom shall be chosen President Said
directors 10 be nominated by the Gov
ernor, and confirmed by the Senate.
for two years, and they skali possess
the same qualifications as required by
the original charter. Said President
and directors shall appoint a Cashier
The President and Cashier s hall give
bond as now required by law, except
that the bond of the President shall be
for FIVE thousand and the Cashier for
fifty thousand dollars The salary Of
the President shall be one thousand
dollars and the Cashiers three thous-
and dollars. Said President and Di-
rectors shall have no power to discount
notes. bills, bonds, or other evidences
Of debt, nor shall they have any bank
ing powers whatever, except to collect
the debts owing to said bank, and TO
bring suits when necessary, to get pos
session of the assets of said bank.
The second-That the Cashier shall
make monthly reports of the condition
Of said bank, and of the collections
made by the bank, and of the kind of
funds collected, and of whom collected.
The third-That the president and
directors, or cashier, shalt collect only
United States Treasury notes, national
currency notes, or notes Of the Bank Of
Tennessee and branches, issued before
the 9th day of Nay, 1861.
The fourth-That they shall, in pres
ence Of the Governor, Comptroller, and
Treasurer burn and destroy, monthly,
all the notes of the Bank Of Tennessee
and branches, collected BY ,heIn and
the agents and receivers hereinafter
provided for, and keep the tax funds,
if any, collected, subject to the future
action of the Legislature.
The ffth-Thst all lsFs creating
branches Of the Bank Of Tennessee, be
and the same are hereby repealed.
/ The sizth-That there shall be ap-
pointed-when receiver has not
already been appointed by the court
an agent at each branch of the Bank of
| Tennessee, whose duty it shall be to
collect the assets Of said Bank of Ten
.nessee at said branch bank, aud if nee.
essary bring suits against ali persons
liable to said bank, either upon notes,
bills, or any indebtedness whatever to
said bank, and against any person who
J w A-h NA-F NAtuAo4'Ah tACAls
The Beventb.-That the Agent, thus
appointed by the President and D.rec-
tors of the Bank Of Tenness see, shall
give bond, with two good securities, in
the sum Of ten thousand dollars, paya-
bic to the State of Tennessee, condi.
toned for the faithful performance Of
their duties, and paying over the
monies by them collected, to the Cash
Ter Of the Bank of Tennessee, accord
ing to law.
The eighth-That the agents appoint
ed by the President and Directors shall
make monthly reports aud payments
to the Cashier Of the Bank of Tennes,
see, at Nashville, of the monies collect
ed by them And when Receivers
have been appointed by the Courts al
any Of the branches, they shall make
out statements or reports to their re
! spective Courts, at such time, and shall
| pay over to the Cashier Of the Bank OF
! Tennessee at Nashville, as often as the
Court may direct The Agents anc
! Receivers shall only collect such funds
ss are authorized by section Of thi.
act
The ninth-That the Agents appoint
ed by the President and Directors
shall receive such compensation fol
their services as may be prescribed by
said President and Directors, aad tbos,
appointed by the Courts, such compen,
+ sation as the Court may decide.
The tenth-That when writs have
been brought, in the name of the Stat,
against the officers Of any branch Of tht
Bank Of Tennessee and their securities
and against the directors and other
for removing the assets of said braual
Bank, and to recover the same, th,
Compensation of the Attorney bringinI
and prosecuting the same, may be fze,
by the Court in which the suit is pend
ing. to be paid out of the funds in hi
hands, or out Of the Treasury.
e The eleventh-That in case Of suit
against the Bank Of tennessee, grow
ing out Of the affairs or transactions o.
} any branch Of the Bank Of Tennessee
process shall be issued on the agent O
e. receiver Tor said branch Bank, wh
shall defend the same and may snswe
any bin that msy be dled against sai
bank, as aforesaid, and said agent O
r Receiver shall inform the Presideu
and Directors Of the Bank Of Teuuc.
> see of the motion and character Of ia
r suit