The weekly North-Carolina standard., 1869-03-10
SENATE.

D.
The Senate met according to adjourn I
ment.
The President in the Chair. q
The Journal of Saturday was read and
approved.
Mr. SWEET moved to suspend the rules in
order to take up bill to repeal the act
amending the charter of the Raleigh and
CASTOR Railroad.
Mr.. DAVIS arose to point of order which
was. that the Senate on Saturday refused to
suspend the rules in order to consider this
bill. and therefore similar motion could
not be made to-day. s'
The CHAIR decided the point well taken.
Mr.. SWEET insisted that his motion to-
day was different, in some respects, from the
one offered on Saturday, and appealed from
the decision OF the Chair.
The Chair was sustained-yeas %, nays
"A .5..
Mr.. SWEET moved to suspend the rules in
order to move reconsideration OF the vote
on Saturday by which the Senate refused to
suspend rules.
Mr.. DAVIS opposed the motion. 20
After further debate, Mr.. Sweets motion
was lost.
Mr. FoRKNER moved to reconsider the
vote bv which the Senate on Saturday re-
fused to take up the bill.
The vote to reconsider was carried, and the
motion to suspend the rules was agreed to
yeas 80, nays7. -,
The bill was then read proposing to repeal
the act ito amend the charter of the Oxford
Branch of the Raleigh and CASTOR Railroad"
the fourteenth section of which reads as
follows: ~ 1
"Said Eastern and Western Railroad may,
at any time before maturity, purchase the
stock of the State of said company by re-
turning to the State like amount in coupon
bonds of the State, or any Indebtedness OF
the State, or in national currency, and any
company in which the State is stockholder
NAV. at any time within the said time, avai.
themselves of the same privilege, provided
such corporation shall, within twelve months
after the ratification of this act, notify the
Governor of the State of its adoption
Mr.. OSBORNE moved substitute so as to
strike out In the section all that relates to
other Railroad Companies after the word
currency"
Mr.; GALLOWAY moved that the subject be
postponed until Monday next.
The motion to postpone was lost-yeas 3,
nays 81. s.z s..s
Mr. WELKER supposed that it was not
designed for the State to make money out
of the railroad projects, in which she had
embarked; but that the prime motive was
to enable the people to build railroads, and
thereby develop the resources of the State.
. If, then, it was not at first intend
ed to make money for the State,
he could see no harm in allowing the private
stockholders to buy out her interest in the
road. He believed the assertion that the prl-
vate stockholders would not buy the State
stock, until such was worth more than the
bonds. to be erroneous. No companywill want
the State stock until the road is built, and
proves profitable investment When this
result is attained, and the company desire
to buy out the States interest, they should
be allowed to do So and thus perm1G the
money of the State to be used in building
up other projects of internal improvement.
He was in favor of pledging the State to-
aid all works of internal Improvement, when
it could be done without detriment to her
interests.
Mr.. OsBoRNE's amendment was lost-yeas
10, nays 20. .,,a,-.sf 5.t.-- -
Mr.. Sweets amendment was adopted
yeas 21. nays 16. s.i,ss..
The bill passed its second reading-yeas
90, nays 16. $500, .s5l,.s.,
On the third reading, Mr. Sweet offered
an amendment, excepting from the provls-
ions of the biII the sale Of stock in the Man
chester Road and in the Wilmington and
Weldon Road as provided in a previous act
of the Legislature. s.oi-..55
Amendment was agreed to-yeas %,
nays H.