The home journal. (Winchester, Tenn.) 1858-188?, 1866-02-17
The Bank OfTcnncsscc..

Senate and House, on Its final reading
and will be, no doubt, generally read
What effect it will have upon the value OF
the notes of this Bank We cannot tell. we
give the bill in full.
Section |. BE 1t enacted by the General
Assembly of the State of Tennessee, II
the Bank of Tennessee shall no longer car
ry on or do banking business. and shall be,
and Is hereby placed in liquidation, ana
Its business and affairs shall be settled ut
rs early n day rs practicable, and for this
purpose and end, the Governor of the
State shall nominate to the Senate, for Its
confirmation. six directors, who, when
confirmed, shall be qualified and elect from
their number Il President, and take charge
and custody of said bank, and all its assets,
property, books, and papers of every kind
shall have power to appoint a cashier, anu
other such officers, agents. and attorneys,
as are necessary and proper; prescribe and
pay such salaries for the President, Cash
Ter and other officers and agents, as may
be reasonable, under the supervision, anu
with the consent and approval Of the Gov
ernOr; take bond and security from said
officers, in such SUM as shall be proper,
for the faithful performance Of their du-
tics, and shall have power to do any other
acts necessary and proper to accomplish
the object of this act.
Sec. z. That the President and Directors,
aforesaid, may have possession OF the
banking house, at Nashville, rs q place of
business, and for the purpose Of keeping
safely the assets, books, papers, and prop
erty of said bank, including the branches,
and shall make out and file with the Gov
ernOr, a complete schedule Of all the assets,
and Of all debts due to or by said bank and
branches, and Of all property of said bank
and branches of every kind. That said
President and Directors take steps, and
proceed with all dispatch, in the collection
of the debts due to said bank and branch
es, and receive In payment the United
States 'currency-Or notes Of said Bank OF
Tennessee. which were issued prior to the
9th day of May, 1861, and studiously rcfu-
sing and excluding all issues or reissues
after that date, also all issues signed by G.
G. Torbctt, also all reissues made after the
any of the officers of the principal Bank,
and notes of the Bank of Tennessee, which
shall come in possession, shall be cancell-
ell with Il hammer, and filed away, and
kept for inspection.
Sec. 3. That all property found among
the assets, and property of the bank, be-
longing to other persons. such as special
dcpOsites OF jewelry, bonds, notes, packa-
ges of papers of value. when the same has
value of pccuniary nature, may, on full
and satisfactory proof of the ownership
thereof, be delivered over to such owner,
provided said owner is not indebted to the
bank, or on payment of all demands and
claims due said bank. In each case such
applicant aud claimant shall file an aflida-
Wit, describing his property, and making
oath that he is not indebted to said bank.
and if proper in the Judgment of the Pres
idcnt and Cashier, shall give bond of in
demnity with security, and Il list of such
property, with the names of the owners,
shall be made, and also filed with the Gov
ernO
See. 4. That the funds now in custody of
the Governor, Secretary of State, and
Comptroller, in the form of, and known As
United States seven-thirty bonds or sccll-
rites, Invested under an act of the General
Assembly, and amounting to the sum of
six hundred and eighteen thousand, two
hundred and fifty dollars, with all the in
tcrest thereof accrued and accruing, and
declared us part Of the perpetual school
fund, by an act of this General Assembly,
shall continue to be held as common school
fund and shall never be diminished, us
provided by chapter II, section 10, of the
Constitution of the State of Tennessee.
Sec. ). That the President and Directors
without delay, and at AS early II day ~
practicable. cause an assignment and deeds
of trust of all the assets of said Bank and
branches, and property Of all kinds, real,
personal and mixed, including funds above
described of S6lS, $50, and all interest there
of accrued or accruing, to be made and eX-
nf ia,,it" n an I H md bf he fS afI the H., h fTs
uses and trust as follows: First, to secure
the Common School Fund deposited in the
Bank Of Tennessee, by acts Of the Legisla-
lure, which shall he a preferred claim with
interest accrued and accruing on said sum
81. 50O.000 since 9th day of May, 1861.
Which sum of S6lS,250, United States 7-3O
bonds shall be retained and placed in the
hands of the Treasurer of the State Of Ten
Fund, Originality deposited III tHSs School
School Funds, as above named, with in
accrued or accruing thereon since
May 9Th, 1861, has been fully secured II
the State as intended by this act, the re
mainder of all assets real personal or nit
ed, shall be assigned for distribution po
rata, to make. hold and secure all remal-
ing and just creditors of all kinds, eXcll-
ding all claims and demands of all kiIls,
of date after 9th of May, 1861, as also
lutely null and void. That the real esatc
be sold on u credit of one, two and tree
years, with interest from date, retaining n
lien bond, and approved security aul to
be paid in United States Treasury Totes
or their equivalent.
Sec. G. That the Attorney Gcneal of
the State, if it becomes necessary n the
opinion and Judgment of the Governor,
a bill In the Chancery Court, b exc
cute the deed Of trust and the truss, and
without security, cnjOin all creditcs from
said bank, and making all he cred-
itOrs, as far as known. and all Otbrs I'M
known, by publication in som public
print in the city of Nashville, paries, and
to others, to the end that all itcrested
therein may come in under on decree,
and equal Justice be done all.
Sec. 7. That the President and Directors
give notice in some two OF NICE Of the
public prints of the city of Nashville.
TO oil whom it may concern" nd to all
persons to whom the money o funds of
said Bank OF tennessee was illgally paid,
that Is for services tendercda Us officers
thereof after the 9Th day of Mv, 1861, or
for services rendered in aid 0the rebel
lion, civil or military, or for property of
any kind, in aid Of the REBELLION, or for
property of any kind, or on Ontracts for
of any kind, Furnished or to be
furnished for the benefit Of ne rebellion,
Of the State of, tennessee, or
the so-called ~Confederacy, Don any other 4
illegal contract or purpose, nd if the said /
money so paid out Of the Bnk of Tennes-
see, or any of its branches 10 not refund
ed and returned within thtty days, then
said President and Direc,rs shall cause
suit or suits to be broughtigainst all per- ID
sons who so received mony from theBank \
Of Tennessee, or any of j; branches. andj
prosecute the same to augment, re~quiringIS
Of It's attorneys the greaest diligence inlR
lis behalf. Io
Sec. $. That the Prcsidnt and Directors
hold their office for tw years. or until
heir successors are appinted, and make 81
report of the state am condition Of thd
bank to the Legislatuc. And that this I
net fake affect from an, AFTER Ire nncsan.Ic e.,