The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-01-06
CHARLESTON DAILY NEWS WEDNESDAY

cltoment of tho special session. and consider
ItS IhS inc near approach of the regular session,
thS matter was temporarily postponed
Tho sacredncss OF the Obligation OF the State
70 pay thosc bonds has never been questioned
Dy any person, and probably never will be-
INC chargc sometimes made that the attempt
on the part OF tho State to take possession of
thc assets or the bank was an act Of bad faith
tolc0idS Ne FNc Loan bondholIers act of
spolatlon .-appcars to your committee utter
~ uhtoundcd, and probably would never have
oGcA mluc except II tho extreme political cX-
cltemcnt OF the times, or pcrhap, tho oyer-Yro-
tcsSlonal zeal Of attorilcvs
- nc )Ecruor of the State, p,lrs,l lnt to the
acl to cosc the operations of lii, bank q, inn
10Th day OF October, 1868, dcn,ondcl ihr ,r,
perry or the bank OF tho president ard ducc-
tors. They decline to etcvcr ~ tho same,
1hcrclipol writ OF nttt'dinous was sued
out against them before Associate Justice VIII
lard to compel tho president and directors of
the bank to deliver to the Goyvrn,,r the ~
sets o. the bank, according 70 tic tenor and
ehtci of the said act.
After full argument OF The can.c, the wtit
was refused. a writ OF error - reverse this
DECISION Wa brought. alu IS now pending in
the Supreme Court.
On the ~ day Of Octcber, 1858, tho Barings,
representing the Fire Loan bon lhodcr5 IN
Europe, by their counsel, Me ,si,-. |. ~. Hoync
ana j. i. Cam2bc (Who are also counsel ior
tue president and directors 81 tho banl)
brought thGr bi III equity il t;lc Unite
States Circuit G ,ur against the pre-. .,l,ut ana
directors OF the Ban OF the State ot Sou.!l
Carolina, and Robert *. Scott, Governor Of the
state OF South Carolina. The object o. t,is
plil i5 to restrain the Governor from carrying
out the act to close the operations Of tho bank
ana TO assert tho claim OF tho Fire Loan bon !
holders to the assets OF the bank Tho in
Junction prayed Tor has not b Ell Granted by
in tbc cause '>
In the case Of Dabncy, Morgan & Co.. against
the president and directors OF the Bank OF The
state OF South Carolina and others, in equity
ii,rt1 1nn O,,1, -
motion OF llcssrs. Hayno and Campbell, cnun-
sci Tor the Earrings, on the 3Oth OF November
1865 to wit: 1t is ordered and adiul &c / that
the uefcndan's. Charles NJ. Furman and Tnos
w. MarIng be cnjolncd, until the further order
OF the court, from alternating, transferring as
signing, ,dlsposinG of,or in anywsc parting with
the )SScSSOn or any portion of the assets or
property OF the corporation known as the Pres
ldcnt and Directors Of the Bank Of tho State
OF south Carolina, unless by the special order
or TINS court; provided, that nothing hcreln
contained shall be construed as conflicting
with the provisions of the sixth clause Of the
O:dcr nerclnabovc referred to, Of the third of
March last.
Thus il will DO seen there are thrcc several
SUITS pending in tho Court OF Equity, ono
in the Supreme Court of thu, State. and one IN
the United States Circuit Court-thc object of
clcll OF which is to secure the assets O: the
bank.
Your committee refrain from expressing any
opinion upon the legal questions involved in
sad suits, but would express tho hope, now
that the stability and solvcncy of the State
government arc assured, the excitement of
me me po!iical ! campaisa subsded, that The par
tage TO amicably settle the same
All OF which IS respectfully submitted.
Del. CORBIN,
Member OF COMMITTEES on behalf of The Senate
Reuben TOMLINSUN.
McmDer OF Committec on the part Of
the House Of Representatives,.
Columbia, 5. o.. December 18, 1868.