Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1873-01-16
CONGRESSIONAL PROCEEDINGS.

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Senator Wright from the Committee
on Finance made minority report on
the question of the power of of the Sec
retary of the Treasury to issue United
States notes in place of any portion of
the forty-four millions retired and can
celled under the act of 1866. Report or
dered printed.
The majority report was submitted
yesterday.
Senators Sherman and Morrill,
of Maine, introduced a bill to amend
the patent and copyright laws. The
bill provides for the amendment of sec
ton Sc of the patent and copyright law
of July s, 1870, by adding thereto the
following: In the construction of this
act the words "cut, print, and engraving
shall be restricted to pictorial illustra-
tions, and no label designed to be used
upon any article of manufacture shall
be entered for copyright, but may be
registered as a trademark or design for
the manufacture; and the word ''book"
shall be held to include any pamphlet
or periodical or publication on which a
copyright is OF may be desired. Referred.
Senator Alcorn introduced a bill au-
thoriZing the Secretary of War to com
promise and settle all pending claims of
the Government against Southern rail-
road companies. Referred.
Senator Sherman, from the Committee
on Finance, reported the following ori-
ginal bill:
A bill to require national banks to restore
their capital when impaired, and to amend
the national currency act:
Be Ii enacted, etc., that all national
banks which shall have failed to paw up
their capital stock as required by law and
all national banks whose capital stock
shall have become impaired by losses,
or otherwise, shall, within three months
after receiving notice thereof from the
Comptroller of the Currency, be required
to pay the deficiency in capital stock by
an assessment upon the shareholders for
a pro rata amount of the capital stock
held by each; and the Treasurer of the
United States shall withhold the inter-
est upon all bonds held by him in trust
for such association, upon notification
from the Comptroller of the Cur
rency, until otherwise notified by
him; and in the event that such
banks fail to pay up their capital stock,
and shall refuse to go into liquidation, as
provided for by law, for three months
after receiving notice from the Comp
troller, a receiver may be appointed to
close up the business of the association |
according to the provisions of the ff- |
teenth section of the national currency
act.
Section second-That section fifty-
seven of said act be amended by adding |
thereto the following: And provided |
further, That no attachment, injunction |
or execution be issued against said asso-
citation or its property before final judg- |
ment in any such suit, in any State, |
county, or municipal court.
Section third-That all banks not or
ganized and transacting business under /
the national currency act, and all per-
sons, companies, or corporations doing |
the business of bankers, brokers, or saw
ing institutions, are prohibited from
using the word " National as q nor
ton Of the name or title of such bank,
corporation, firm or partnership; and |
every such bank, corporation, or
firm which shall use the word "Nation-
al y as portion of their corporate title
or partnership name, six months after
the passage Of this act, shall be subject /
to penalty of fifty dollars for each day
thereafter, in which such words snail be
employed as aforesaid as part of such /
corporate name or title. Such penalty
to be recovered by action in any court l
having jurisdiction. ~
Senator sherman called up the mo- |
ton to reconsider the vote by which was /
passed the bill for the relief Of the widow
Of Admiral Dahlgren. ~. ~.
At the expiration of the morning hour
the bill went over. N /
The calendar was then taken up, and
the following bills passed.
a a. y