Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-05-15
HOUSE.
Freedmer,, sa.,l. hllI kassedI.

WAsEiNGToN, May l4.-Mr. Durham,
from the Banking Committee, reported
bill To- amend the charter Of the Freetl'iians
Savings and Trust C55hIpSny. Ii makes it
tie duty Of the bank officers to make loans
to the extent of half of their deposits on
| unincumbered real estate in the vicinity of
the agency or branch Of the company, with
at least double the amount Of loans, and TO
collect as soon as possible the loans made
| on real estate outside of the State in which
the deposits were made. 1t allows the
| trustees. with the consent of the COmptrol
Ter of the Treasury, to close at any time
any of the branches or agencies. 1t forbids
the loan of more than $1,000 TO any one
person or company. 1t forbids the payment
of more than five per cent interest on de-
posits. and il provides that whenever it is
deemed advisable to wind up the entire
business Of the corporation, the trustees
shall select three competent men 10 do so,
who are to dispose of all its property and
distribute the proceeds among its creditors
pro rata.
After discussion. the bill passed.
The House then went into Committee Of
the Whole, Mr.. Niblaek in the chair, on the
Deficiency Bill.
Mr.. Shanks moved TO strike out an item
of $4,000 for the rent OF a building in
Washington due John W. Wright. He
made the motion for the purpose of putting
on the records the fact that the Interior De
partment rented building from man
who had
Robbed and PIundered
Indians, and who had put up this building
with the proceeds of his plumber.
Mr.. Nesmith suggested that if Wright
had robbed the Indians that was no reason
why the government should rob Wright.
The motion was rejected.
The item of S1s,36S to reimburse the
| fund Of the Reform School in the District
Of Columbia, and which had been in the
hands of Henry d. Cooke, as Treasurer,
at the time of the bankruptcy Of jay
Cooke & Co., gave rise to some discussion,
| in the course of which Mr.. Holman char
acterized the loss of the money as an act
Of
Embezzlement,
which phrase was repudiated by Mr.. Gar
| field, who spoke of Cooke as an un-
| fortunate man who had been greatly
trusted and who had failed in consequence
of a great calamity.
The item was passed with an amend
ment offered by Mr.. Holman, directing an
investigation into the matter by the Ator-
ney=general.
The bill was laid aside to be reported to
the House, and this Committee, Mr. Bur
roughs, of Michigan, in the chair, took up
| the
Consular and Diplomatic
appropriation bill. The following is a
summary of the bill: Total amount ap-
/ propriated, 3,347,304; total amount es-
timated for last year, S1,S26,52S; total
amount appropriated last year, S1,3I1, 35S
The new matter appropriated is to pay the
claims of British subjects, Sl,92e,0l9.
Mr.. Swami, who had charge of the bill,
| explained its provisions.
The Committee rose without any action
on it and reported the deficiency bill, which
was then passed.
Mr.. Poland, from the Committee on
| Revision of the Laws, reported bill to
revise and consolidate the Statutes relating
to the District of Columbia, that were in
force on the first Of December last. Passed.
House adjourned.