Delaware state journal. [volume] (Wilmington, Del.) 1870-1883, 1881-03-03

the Wilmington & Turnpike Company
| This bill provides that when any person
who shall leave the track Of the turn
pike within three hundred yards OF {
| gate shall be liable to toll.
| The act TO transfer certain real estate
from one school district TO another
| This is the land Of John C. Sparks and
Corbet, to be transferred from district u
to district 79.]
An act to prevent live stock from run.
ming at large in school district No. 81,
New Castle county.
Mr.. Belts gave notice OF bill TO ineor.
porate tho Wilmington Real Estate
Company.
The supplement to the charter OF the
Wilmington K Philadelphia Turnpike
Company was read a second time and re-
ferred to the Committee OH Corporations.
House bill to amend section OF chapter
81, volume IA, Laws of Delaware, was
read first time; as also, House bill
authorizing the Superior Court to invest
certain moneys placed in its hands as
also the bill reincorporating the town oil
Milton. This is the seni-annual bill
that is presented to the Legislature for
grave considerations.
The bill vacating u portion OF the Snuff
Mill lane, and the bill establishing new
road i'll Brandywine hundred were passed,
rs also the bill authorizing the improve
inent OF the streets of Laurel.
A committee was appointed to take into
consideration the conversion OF the S3j JOG
fund OF the P, W. & B. Company into
stock, which was composed OF Messrs.
Harrington, Belts and llorsey.
Mr.. Harrington, chairman OF the special
committee on that part OF the Governor a
message, offered a joint resolution relat-
ing to the Farmers Bank and its
branches, which is rs follows:
WHEREAS, by the report of the Farmers
Bank and Its branches, made to his Excel
lency, the Governor, there is i'll aggregate
quite large amount of real property re-
ported as held by the said Bank and its
branches, which real property they report has
been purchased to secure debts due the said
bank and its branches; and
WHEREAS. it is deemed unwise and I'M
profitable for banking institutions to
| hold or have invested any considerable
part of their funds in real property;
WHEREAS, The Stateis largely interested in
the said Farmers Bank and Its branches and
therefore intrusts in the manner OF conduct
NIX tllb Vi htllu DAllk anu llb
| therefore,
Be il Resolved, BY the Senate and House of
| Representatives of the State of Delaware in
| General Assembly met
That in the opinion of the Legislature it
would be wise and proper and for the best
interests of the State AZ a stakeholder in said
bank and its branches; that the President md
directors of the said bank and its branches
would at as carly time as the same could be
ptIpRtpl without ton great n ,srl1pn 1Jspnan
of the said real property that IL held by
them, excepting that which il leased by them
Tor banking purposes.
The same committee reported u bill en-
titled an act requiring the directors of the
Farmers Bank of the State Of Delaware
and its branches on the part of the State
to make an annual report.
Section /. Provides that the State
directors shall make report during the
month of December in each year in the
following particulars
/. The amount of loans and discounts,
embracing notes, bonds and mortgages,
and also tn : amount of loans secured by
collateral.
,. The amount of protested, waived or
suspended paper and the interest due
there are i'll the aggregate.
3. A statement OF the real estate owned
exclusive of banking houses; its cost
value and their individual estimate of its
cash value, the annual incomes and the
cost for Improvement and repair.
4. The actual cash value Of each parcel
of real estate owned and used for banking
purposes.
s. The amount of over-drafts in said
bank and its branches.
&. The cash and cash items.
T. The amount due from other banks
S. The amount of capital stock, number
Of shares and the par value OF each share.
o. The amount on deposit.
10. The amount due from said bank to
other banks.
IL. The amount of outstanding circu-
lations.
~. The amount required to he furn-
ished to pay the dividend declared on the
stock of the bank and its branches, and
what amount each bank or branch
furnishes toward paying the same, both
at the Sune return as well as the one
made in December
ID. The amount Of undivided profits
and the amount OF unpaid dividends.
Sec. 2-Provides that the directors
shall not disclose the names OF the per-
sons indebted, but shall estimate the
worth of the bonds, mortgages, &C., pro-
tested, waived &C., according to their own
judgment.
See. 3-Provides that failure upon
the part OF the directors mentioned To
report as directed shall work a.torafeiture
of office.
Sec. 4-Provides that any vacancy
occurring in the Board of State Directors
shall be filled by the Governor.
See. j-provides that all acts inconsist-
ent with this are hereby repealed.
Adjourned.