Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1869-03-05
SENATE.
MONDAY, March |, Is

| Mr.. Welker introduced a resolution t,
appoint committee to examine the Cal
endar and report bills of an imperativ
nature, as were required 10 be acted OF
before the adjournment of the General AS
sembly.
On motion of Mr.. Jones, of Columbus
the resolution was Indefinitely postponed
Mr.. Forkner moved O reconsideration
Of the vote of Satul day last, by which th
motion of Mr.. Sweet, relative to tn
amendment to the Oxford Branch of tn
Raleigh and CASTOR Railroad Charter, Wa
| lost.
| Mr.. Sweet gave the reasons that actua
ted him in making the motion on Satur
day. He thought the matter too indefinite
and premature. and tied the hands of the
State. He would not, at proper time anG
| with proper understanding of what VT
we're doing, object to a sale of the State
| stocks at a fair rate. He was opposed, how
ever, to placing her interest in the power
| Of spectators to depreciate the bonds o.
he State.
Mr.. Davis opposed the proposition
He thought the gentleman from Cravei
| (Mr. Sweet had taken wrong view OF
| the subject, and argued to sustain his posi-
| ton.
| Mr.. Robbins thought that there was am
| biquity ii the phraseology of the 18th sec
| ion Of tee Charter, under consideration,
aud favored the reconsideration in Wow OF
| offering an amendment.
| Mr.. Lindsay favored a reconsideration,
and gave his reasons for it.
Mr.. Moore moved the previous question
The call was sustained, and the Senate
voted to reconsider.
The question was then stated to be upon
ha TO 0har rs
Oxford Branch of the Raleigh and Castor
Railroad.
Mr.. Winstead raised point OF order that
was overruled 10y the President.
Mr.. Osborne offered an amendment,
the effect of which was to strike out SO
much of the 14tn section of the act as al
lowed the exchange of stock in other com
panies.
Mr.. Osborne stated, at some length, his
view of the whole subject He thought
that gentlemen were wrong in the appre
tensions they entertained relative to the
power granted in this bill. He considered
1t would be good trade to exchange the
States interest in her works of internal i'm
provement for her bonds at par.
Galloway, colored, moved to postpone
the further consideration of the subject
until Monday next. Lost.
IhT. IlOUUluS Lucu dfSueu 10 SHOW Iu'
Objectionable clauses in the bill now pro-
posed to be amended. He, like the Sena
tor from Mecklenburg, would be willing te
sell, to-day, the States interest in thes'
Railroads for her bonds at par f.; but this
bill did not conclude the transaction now,
but left it open, and the time might arrive
when 1t would not be good policy to be tied
up In this Way and it was certain that, as
long as the Donds of the State were held
higher than the stocks, we could not make
the trade. But if time and changed Cir
cumstance should advance the stock above
the ruling price for bonds then, by this
bill, we would be obliged to sell to these
companies. He was opposed to any such
arrangement.
Mr.. Osborne replied, maintaining that
the exchange of bonds fer stock at PAL
Value was about as good as could be tx
peeted.
Mr.. Welker understood that the States
object In taking stock in railroads was not
so much to make money by the operation
as to aid in establishing them. After they