Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1877-04-05
What the Legislature has
Accomplished.
~ Resume Of the Bills which the
General Assembly Have Made
Laws.
Some Measures Which Did MOI
Pass in the Rush of Business in
tue Closing Hours of the
Session.
Nashville Banner.

resolution was adopted TO sus-
pend all further payment of in
terest upon the State bonds I'M
til otherwise ordered, except
that as heretofore the interest
on so many Of said bonds as are
owned by the educational insti-
tutiOns within the State shall
be continued to be paid. This
was adopted in view of the pro-
posed conference with the bond
holders, looking to compro-
mise of the State debt. As our
readers are aware a committee
had conference with persons
representing the bondholders in
New York, and it is expected
that an extra session Of the Leg
islature to consider this matter
will be called in a few weeks.
The following arc the head
ing OF the bills which passed:
An act to repeal an act enti-
tied can act to increase the rev.
cnucs Of the State and 10 ell
courage woOl-growing." This
repeal was hurried through, in
consequence of the decision of
the Supreme Court, declaring
the dog law unconstitutional.
The bill repeating the cOnven-
tional interest law, and making
the legal rate Of interest six per
cent, was one of the important
measures passed during the SEES
sion.
An act 10 be entitled Gan act
to declare the terms on which
foreign corporations organized
for mining or manufacturing
purposes may carry on their
business, and purchase, and hold
and convey real and personal
property in this State" This
act was passed allowing all cor
porations to carry on business
under the laws of Tennessee,
and was especially for the ben
eft Of the Southern States Coal,
Iron and Mining Company"
which proposes to invest one
half million Of dollars in the
coal regions Of Tennessee.
To deprive the State Of the
power to borrow money, and TO
repeal section q Of an act pass
ed March l, 1869, entitled all act
to amend the revenue laws Of
the State.
TIC abolish the office Of Coun-
~ Judge Of Sumner county.
and TO authorize the Justices Of
the County Court to elect a
chairman thereof. 4 bill SINH
lar 10 this, relating to Davidson
county, failed to pass.
! To create the county of Halves
from the counties Of Carroll,
Henderson, Benton and Deca-
tur. A ILL to create the new
county Of Wisdom from the
counties Of Lake, Lauderdalc
and other counties failed 10 pass.
To change the time of the ses-
sions ofthe Supreme Court, and
to make it meet at Nashville in
December, Jackson in April,
and Knoxville in September.
To grant to the purchasers OF
railroads under mortgage all the
rights, powers and privileges
under the charter of the road
sold.
/ To declare the mode and man.
ner of yaluing the property Of
telegraph companies for taxa
tion aud FOR taxing sleeping cars.
This bill provides FOR the tax
ing of telegraph companies sim
liar to the mode of taxing rail-
roads under an act passed March
both, 1875.
10 authOrlZc municipal cor
poratioDs 10 settle their indebt-
edness by issuing new bonds at
the rate Of fifty cents on the dol
lar.
An act to amend an act cnti-
tied san act declaring the mode
ard manner of yaluing the
property of a railroad company
for taxation, passed March 20.
1875. and 10 adjust the rights If