Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1868-12-12
TENNESSEE LEGISLATURE.
SENATE.

NASHVILLE, Dec. 1.-The Senate me
at 10 A. NJ, Speaker Senter in the ehail
and 10 members present.
The resolution sppropriating, S242 &c
johnson & Bailey for public printing was
adopted and ordered to be transmitted to
the House.
HOUSE BILLS ON THIRD READING.
Bill creating a echool district in Morris
town. PASSED.
Bill to incorporate the Trenton Savings
! Institution.
Mr.. Elliott offered an amendment incsr-
porating the franklin Bank, also incorpo-
rating the Mechanics Slvin gs Bank Of
Nashville. The amendments were adopted
and the bill was Withdrawn by Senator
Rodgers for further amendment.
HOUSE BILLS ON FIRST READING.
Bill prescribing the duties of Insurance
Companies doing business in this State.
Passed and referred to the Committee on
Finance, Ways and Means.
Bill TO amend an act Incorporating the
Tenness see and Pacific Railroad. Passed
and referred TO the Committee on Internal
Improvements.
Mr.. Norman was granted permission to
introduce bill. The bill provides for the
adjustment Of The office of railroad reve-
nues:
Section l. Be il enacted by the General
Assembly of the State of Tennessee,
That all laws and parts of laws
now in full force in this State
requiring OF authorizing the Governor of
the State to appoint receivers to take pos
session Of any of the railroads of the State
under any circumstances whatever, be and
the same are hereby repealed.
9 Be it further enacted, That each and
every Receiver of any railroad in this State
shall, within five days after the passage of
this act, turn over TO the President and
Directors or the duly authorized agents
thereof, the entire railroad in his posses
sion with all the books, papers, effects,
franchises, rolling stock, fixtures and sup
plies thereof.
8. Be it further enacted, That the Trea-
surer of each railroad company whose
road may be turned over to such company
shall, within forty days after coming into
possession of said road, enter into bond
of penal sum to be fixed by the Comp
troller, with sureties 10 be approved by the
Comptroller and Secretary of State, con-
QltlOneQ mat the net SaTnlBS5 Vi the IOdu
shall be paid quarterly into the Treasury
of the State, and that he will maks all the
reports required by this act.
4. Be 1t further enacted, That every
railroad company in the State failing to
pay the interest on the bonds loaned them
by the State shall make quarterly reports
in detail, of the current expenses and gross
income thereof, in which such income and
expenses shall be fully and minutely set
forth.
5. Be it further enacted, That the pro
visions Of the two preceding sections shall
apply to any railroad company in this
State failing TO pay their interest account
upon notice of the Comptroller to execute
such bond within forty days.
&. Be it further enacted, That if the
Treasurer of any of the aforesaid compa-
MES shall fail to execute the bond provided
for within the time provided, it shall be
the duty Of the Comptroller of the State
to contract with any other party or parties
for the running of such roads on such
terms as may best promote the interest OF
the State, and he may, if deemed necessa-
~, lease cut such roads from year to year.
7. Be it further enacted, That this act
shall take effect from and after its passage.
Passed first reading aad referred to Ju-
dietary Committee.
The Senate then adjourned until TO.
morrow morning, at 10 O'clock.