Nashville union and dispatch. [volume] (Nashville, Tenn.) 1866-1868, 1867-10-15


ness, and issue to the owners a certificate
for the same and when the certificate of
the Comptroller Is presented to the Seeres
tary of State, il shall be bis duty to record
the same In a book kept for that purpose
in his Office, and to sign and affix the great
seal of the State to one of the indemnity
bonds of the State, and deliver the same to
the holder of the ComptrOller's certificate,
and take his receipt on his hook for the
same - x '-tNf IT - -
Sec. XIII. Be il further enacted, That
the Comptroller shall enter credit on his
books to the Treasurer for the amount OF
the certifcate. of Indebtedness deposited in
/ his Office and cancelled by him, and then
deliver the same to the Treasurer, who
shall enter the same as a credit on his
books. tl
Sec. XIV. Be il further enacted, That
it shall be the duty of the Governor to
cause TO be engraved indemnify bonds OF
the State of Tennessee, of one thousand
dollars each, having twenty years to run to
maturity, with coupons attached, bearing
interest at the rate Of six per cent. per am
mum, payable semi-annually at the Treas
ury of the State; and all expenses incident
to the engraving said bonds and certlti-
Gates of Indebtedness, shall be certified to
the Comptroller, and paid ont of the Treas
ury on his warrant
Sec. XIV. Be it further enacted, That it
shall be the duty of the Comptroller to
sign the coupons attached to said bonds,
and deliver the same to the Governor, who
shall sign the same, and deliver the said
bonds to the Secretary of State.
Sec. XVI. Be it further enacted, That
when the holder Of one thousand dollars of
certificates of Indebtedness, shall want the
same funded, it shall be the duty of the
Comptroller to cancel the same, and Issue
a certificate to the Secretary of State, who
shall sign, seal and deliver to the holder
of said certificate, one of the bonds of the
State of Tennessee, taking receipt there
for.
Sec. XVII. Be it further enacted, Thai
tax Of one per cent. shall be assessed on
all the real estate, and collected as other
taxes, said tax to be set apart TO pay the
Indebtedness created under this act.
I Sec. XVIII. Be it further enacted,
That the certificate of indebtedness, and
the coupons for interest attached to the
Indemnify bonds issued under this act,
shall be received in payment for the tax
levied under this act
Sec. XIX. Be it further enacted, That
the bonds issued under this act may be re-
deemed and paid by the State, at any time
after FIVE years. after giving six months
notice in one newspaper published in Nash
vile, one in Memphis and one in Knox
vile. WETE3fGH rs 80
Sec. Xxx. Be it further enacted That
when the amount of claims paid by the
State of Tennessee to its loyal citizens, shall
be ascertained, that it shall be tie duty of
the Governor to apply to the United States
government at Washington City, for the
payment of the same. a4 tI. 49,
Sec. XXI. Be it further enacted, That
said Commissioners shall receive as COM
pensation for their services the sum of
--- dollars per day, while in
actual service, and they may employ a
clerk who shall receive the same compen-
sation, which shall be paid out the of
Treasury of the State, on the warrant of the |
Comptroller. .d
Sec. XXI. Be Il further enacted, That |
the Treasurer shall be allowed one half Of |
one cent for each and every certificate GER
titled, signed, registered and delivered to |
claimant, and that the Comptroller shall |
receive half that amount for his services. |
Sec. XIII. Be it further enacted, That |
the parties funding said certificate Of in |
debtedness shall pay the Comptroller and |
Secretary Of State, the fees now allowed by 1
law.
Sec. XIV. Be it further enacted, That |
no member of this General Assembly shall |
hold any Office or place under this act, nor /
shall he conduct or be interested in any
Of the claims fled under this act, directly |
or indirectly, nor shall he file on his own |
behalf, nor behalf of any claimant, any |
claim under this law, nor be entitled, di |
rectly or Indirectly, to the benefit of this |
act or any provisions thereof.
Sec. XIV. Be it further enacted, That l
this act take effect from and after its pas |
sage.
SCHOOL FUND.
Gen. Thomas, Private Secretary to the |
Governor delivered to the Senate the fol- |
lowing message:
STATE OF TENNESSEE, Executive De
PARTNIENT, NASHVILLE OCT. IA, 1867
Gentlemen of the Senate and House of Repre-
sentdtiUes: transmit herewith for your in
formation, the report of Thomas 3. Nc
Elwee, ESD, agent to settle the claim of the |
State against the Tennessee National Bank |
of Memphis. w. G. BRowNLow.
REPORT or Mr.. M'ELwEE.
HIS ExcELLENCY w. G. BRowNLow,
Governor, etc-SIR: | herewith submit
statement of the assets of the Tennessee
National Bank of Memphis, now in the
hands of w. A. Hill, Esq, Receiver ETC.,
amounting in the aggregate to three hun
bred and sixty-nine thousand four hundred
and eighty-fve dollars and seven cents
with an estimate of the probable value of
the same, making one hundred and ninety
two dollars and nine cents-Which amount
it il thought the bank with careful atten-
ton ought to pay. The securities as
shown by the list, depend upon contingent
cies as to their value. | also enclose let
ter of Thomas r. Smith, attorney, sug-
costing that suit be brought upon the bond
of the bank as fiscal agent, which have
done All of which is respectfully sub
mitted. THos. B. MCELwEE,
Agent, etc.
Nashville Oct. Z, 1867.
MR.. SMITHS LETTER.
MEMPHIS, TENN, Sept. 81, 1867--CQk.
Il. Is. E-IreSenL-DEAR DIX ~
herewith hand you careful estimate of all
the assets of the Tennessee National Bank.
l think have estimated everything at Its
full value Out of this will have to come
expenses, etc.
1t is of the most vital importance that
the State should proceed at once on the
bond of the bank, if they expect to make
the sureties pay anything. Already some
Of the sureties have made conveyances of
their property (Which | consider fraudu-
lent, and others will do so. You are
aware that these fraudulent conveyances
ought to be attached at once, while the
facts necessary to substantiate the fraud are
fresh in the minds Of the witnesses.
Respectfully, THos. r. SMITH.
GROSS ASSETS TENNESSEE NATIONAL BANK.
Bills sl65655 GO
Miscellaneous stock, etc.............. 1854 ~
Cash with Comptroller l4340 50
Real estate lin suit 150J0 W
Good cash ...... .............. $40 70
S369 4s5 OF
SECURITIES.
Fiscal Agents bond............... 100000
Ultimate liability of stock
holders, estima d...-......-- 5000