The Fairfield herald. [volume] (Winnsboro, S.C.) 1849-1876, 1868-08-26

of tho corporation known as the Presi-
dent and Directors OF the Bank of the
State of South Carolina, and sell at pub.
lie auction, at such times and upon such
terms as he shall deem most advanta.
geous to the State, all the real and per.
soEal estate, stocks, bonds of the cor.
poratlon, and other assets of said COR
poration, and the personal bonds, notes
and bills OF exchange, owned by said
corporation, and all debts and chooses in
action due the said corporation. He
shall place in the hands Of the Attorney.
General of the State, with instructions
to institute, in The namo Of said corpora
ton, legal proceedings to collect the
amounts so due as speedily as possible.
And the proceeds Of said sales and of
collections, made by the Attorney Gen
eral, shall bo deposited in the Treasury
OF tho State, subject to the order of tie
Governor, who shall keep distinct ac-
count thereof separate and distinct from
the other accounts Of the State, and shall
report the samo to the next succeeding
session OF the Legislature. Provided,
always, that suits shalls not be insttut.
cd upon debts which, in the opinion Of
the Governor and Attorney. General, are
valueless.
That all bills issued by said corpora.
ton prior to the Goth day of December,
1860, and which, when duly filed in tho
Court of Equity Of the State for Charles.
ten County, on or before the lst day Of
june, 1868, in pursuance of the order of
said court, under the date of 1868, be
funded, and, on the surrender and de-
livery of said bills to the Treasurer of
the State, payable twenty years after
date, and interest at six per cent. per
annum, payable seml-annually at the
agency of the State, in the city of New
York, shall be issued to the owner of
said bills for payment, and redemption
OF the amount of said bills, and interest
thereon, from the time when such bills
were presented for payment, at six per
cent. per annum and the Governor of
the State is hereby authorized and re-
quired to execute and deliver said bonds );
and to the punctual payment of the
principal and interest, The credit and
faith Of tho State is hereby plcdg.
ed.
That the bills OF SAID corporation,
which have not been filed in the Court Of
Equity, for Charleston County, on or
before the lst of June, 1868, shall not
be funded, but shall be valid as a dis.
count or set off in all actions and suits
at law or in Equity brought by said cor
poration in payment of all demands due
said corporation.
That the Act of the General Assem-
bly, of the State, ratified The 2lst Of De.
cember, 1865, is hereby repealed.
That the Sixteenth Section of the
Act ratified the 10th day of December,
1912, entitled an Act to establish a
bank on behalf Of, and for the benefit of
the State, and all Acts and parts of
Acts, which render the bills Of said cor.
roration receivable in payment Of tax
es and all other debts due the State,
be and the same are hereby repeal
ed.
The militia bill was taken up and,
during its consideration, the House ad.
Ijourned.
SENATE.
The bill. to provide for the payment
of the per diem and mileage of members
bers and officers Of the General Assem-.
bly,, was passed, with an amendment
that the bills receivable so used shall be
paid to the members at the current rate
Of discount.
THIRTY.NINTm DAY.
HOUSE OF REPRESENTATIVES,.
,Driflle offered the following resolution
which was adopted:
Aesolvea, That it is expedient to make
the poor houses in this State, institutions
of industry, and that the Committee on
Public Buildings be instructed to in
qnlre and report upon plan for so
doing,
The bill to declare the manner by
which the lands or the right of WAYS
over lands of persons or corporations
may be taken for the construction of
railroads and other works of internal i'm
ternal improvement.
Also bill to authorize a State loan,
to pay the interest on the State debt. ,
! The bill to provide for the payment
OF the per diem and mileage OF the mem
bers of the Legislature, was then taken
up; but it appearing that the copies of it
laid on the desks Of the members were
incorrectly printed, the consideration oe
the subject was postponed, and the
House adjourned.
SENATE,
Randolph offered resolution, instructinp
tho Committee on Military Affairs to ascers
tain the number Of stands of arms, batteries,
and tho amount of other military equipments
which are now in possession Of the State,
and at the disposition Of the Governor, to
report accordingly to the Senate. Ordered
for consideration tomorrow. #1a
Corbin offered series Of resolutions
contemplating tho appointment Of Joint
Committee to inquire into the assets and
liabilities of tho Bank Of tie State, whether
the Stnte is liable in any wny for tho debts
OF that institution, and If 50, to what
| amount. and whether thoao dohto ,uoro ~.