Daily Richmond Whig. [volume] (Richmond, Va.) 1865-1869, 1866-02-06

sent the same to the said Treasurer in amounts of one
hundred dollars, or any multiple thereof, the SAID
Treasurer is hereby authorized and directed To de-
liver t0 such legal representative orrepresentatYcs of
such bank, an amount of the stock deposited with
him for that purpose, ~ aforesaid equal IN amount
to the notes So presented to him. But such stock
shall be delivered in equal portions OF all such stock
80 deposited as lar as the same may be practicable.
% he ~ eAdeted, That II any president, director,
cashier assignee trustee of any bank in this COM
monwcalt shall make any application or DISPOSE
ton of the assets of such bank otherwise than in
the payment OF the creditors OF such bank or in the
liquidation of its Affairs, such president, cashier
sgnce or trustee shall he deemed guilty of felony
and upon conviction thereof shall le fined not les
than O00, nor more than s. 90. and shall in adj
d.ti0n TO such fine, he confined in the Pcnitentary
for period not less than one more than three
years
This act shall be in force from lis passage.
A BILL To INCORPORATES THE NATIONAL MER-
CAMILLE EXCHANGE COMPANY
Was taken up, when
Mr.. GRATTAN said, after the action Of the
House on Friday in granting the charter for the
construction of Il railroad from StraSburg 10
Winchester, he must confess that he was al
most inclined not to oppose any charter of in-
corporation, rs it is perhaps aS well that vnl-
lures ut home should feed on the vitalS al the
Commonwealth as that her substance should be
consumed by harpics from abroad. The bill,
however, was particularly Objectionable, and he,
therefore, moved to strike out the seventh See
ton, which reads as follows:
The business of said company shall he 10 flcil.-
tate the exchange Of commodities and productions,
and to make purchases for others; to SELL in the best
markets the variOns productions Of the country; 10
insure property entrusted Ia is care IN tFdaNtH or in
store, and TO guarantee thc payment OF debts
traccd through its agency and for this purpose, it
may contract with railroad and express companies,
as common carriers, and with commission or other
merchants, to transact its operations establish aucu.
ces throughout the United States; indemnify itself
by insurance against loss or damage lay fire risk,
of navigation or transportation; and generally
such lawful ways and means is may he necessary To
carry on the said business"
Mr.. WILSON thought that the gentleman from
Richmond was Il little ncttlcd nj the legislation
the other day, and it caused him to oppose
this bill. He differed with him then, and was
sorry to have To differ from him again. He
hoped that it would not be the pleasure of the
House to strike out the vital feature of the
bill
Mr.. GEATTAN thought The gentleman mSil-
ken, aS the legislation Of Friday had well nigh
converted him to the opinion that it WAS cXpe-
dent to let them all pass without opposition.
Mr.. WoOD, Of Aibemlrle, could see no rca-
son why the section should be stricken ont.
Mr.. TURNER thought the section perfectly in
consistent with every rule which had hereto
fore obtained with reference to mercantile
transactions. lie would oppose that and all
similar acts of incorporation, because he be-
licved the best interest Of the State would
thereby be advanced. The Legislature ought to
pause long before granting such privileges to a
company of merchants. lie, therefore, hoped
that the amendment would prevail.
Mr.. ELLIS admired the intent expressed by
the gentleman from RappahannocE 10 lcgslatr
for the good OF the whole Commonwealth, but
could not see the force of his objection to the
bill.
Mr.. JoYNEs could not see any sound policy
in striking out the section rs proposed by the
gentleman from Richmond, and thought it only
afforded private enterprise Il larger sphere i'll
which to employ its capital.
Mr.. GRATTAN further advocated, and Mr.
WoOD opposed the amendment to the bill.
After which the vote was taken, and the
amendment rejected.
The bill was then passed.
THE LYNCHDUEG AND DAYyILLE RAILROAD.
GA motion Of Mr.. CLARa, of Campbell, the
rules were suspended and the above bill, 10
incorporate the above road was taken up.
Mr.. lOYNEs asked the gentleman to agree to
Il postponcmpnt the bill until tomorrow, in
order that lac might obtain information i'll re-
gard Ia it.
Mr.. CLARK thought that the gentleman
could obtain all the necessary information to-
day. The bill was simple act at incorpora-
ton and contained nothing mysterious in it.
Mr.. JoYNES moved to pass the bill by, which
was refused 10y the following yotea--ycS S,nors,
IS.
Mr.. GRATTAN called attention to the fact
that the money 10 build the road would he
raised in Baltimore, and that il would be but
lad
of the Baltimore and OHIO road. lie did not
believe that 500, 900 of the funds to build it
would he raised in the State.
Mr.. CLARK, of PittSylvana, thought ii re-
markably strange that this charter should he
opposed 10y representative Of city To whose
wealth and Improvement his county had So
materially contributed.
Mr.. WILSON said that the proposed conncc
tion had long been Il lavoric object of the pc"-
pie of Lynchburs, and the same arguments
used against it were used when Lynchburg
proposed connection with the Southwest
He could not sec how gentlemen could find
it in their hearts to oppose the proposition with
such bitterness. The evident purpose Of the
gentleman from Petersburg in asking delay,
was To strike Il blow at the bill. lie hoped the
bill would pass.
Here the Speakers gave announced that
the hour had arrived for the consideration OF
the special order Of the day, the Stay Law,
when
On motion of Mr.. WILSON it was postponed
by the following votc-aycs II, noes -.
The question being on the engrossment and
third reading of the bill, Mr.. JoYNES said that
the decision Of the House, in refusing him the
courtesy of a p0siponcment, was, in his opn-
ion, Il iorcgonc conclusion that the purpose "i
the House was to pass the bill, and not to give
him an opportunity 10 discuss 1t. He would
not, therefore, have said even this much, bat
for the fact that he desired his constituents to
see that he coud not, with proper respect
either to them or to himself, advocate their
views under the circumstances.
Mr.. CLARK, of Campbell, said no gentle
man ON the floor was inclined To be mere
courteous than himself, when he could do SO
without ScriouS detrmcnt to his constituents,
but il he granted the request of the gentleman,
the bill, on the morrow, could only be reached
by another suspension Of the rules, as the Chair
had intimatcd. The people Of Lynchburg,
Campbell, Patrick, Pittsylyania, Franklin and
other counties, asking this Improvement for the
development of their wealth and resources, are
not enemies of Richmond but sincerely desire
her prosperity, rs they have shown by innu.
mrrahlc acts in times past. The bug-bcar OF
the Baltimore and Ohio road, brought into the
debate 10y Il gentleman opposed TO the charter,
had nothing to do with the bill under cOnSldcra- !
ton, and gentlemen in voting should remember
that this road, when completed, will develop
resources which will largely add 10 III" material
prosperity and wealth of the State.
Mr.. BAYLOR favored the bin because he was
in favor of granting charters to every section
wanting roads, where they do not ask for ap-
preparations.
Mr.. ScoTT thought that no more meritoriouS
scheme had ever been presented 10 the LegiS-
laturr OF Virginia than the road proposed, |
which, when finished, will run through seventy
five miles OF territory as rich rs any in the
State.
The bill was then ordered to its engroSsment
and third reading.
THE STAY LAW
was taken mp, when the following amendment
of Mr.. CABELL, of Buckingham, was discussed
and adopted: Strike out of 9TH section, "and
also on the amount of interest due and in ar
rear ON the lst day OF January, 1866"
Mr.. GRATTAH moved to strike ont all in this
section from "lSG7," in the fourth line, to ''un-
paid, =" inclusive, III the eighth line, and insert
the fnllowing--.'A sum equal to one years IN
terest on the principal oi the debt, and one'hth
of the principal and of the interest due up Ia
the lst day of January, 1866, and on the lNt
dav of January of each succeeding year, whilst
this act remains in force, one years interest,
or 50 much of the principal as shall remain I'M
paid, ana -iiith OF the original amount Of