Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1882-02-10
WASHINGTON.
General News and Gossip at the
Capital City.
The Pension BiIl-0bituary-Apportio
National Banks and What Shall be
Done With Them-Shefmans
Notes Beforea Committee.
POINTS, PERSONAL AND POLITICAL
soceso, Dispatch to the Register.

Iv 10 the discussion of ingalls, resolution
and eHlogies on 0COnnor, OF South oaro'
lina. The speeches of the Democratic mem-
bors ~, the former indicate a determine
ton not to allow the Republicans 10 MAKE
capital out OF the debate, and 1t Is TINS
feeling which will probably leave Senator
Rack almost alone 10 vote against the reso-
luton.
The address OF Wade Hampton and But,
Lar. af south Carolina. on the deceased reR-
rssentatiye from their State, was listened
to with great attention, and was much aa-
mired.
In the House the consideration OF the
apportionmeut bill was marked by no
special features of interest Sunset COX
read an exhaustive argument, bristlihg
with figures, in behalf OF his SUI Dill, ana
Updegraffe. of the Belmont (O) district de-
nounced what he termed an effort to have
money and stocks given representation
| in the proposed apportionment instead oil
! the manhood suffrage contemplated by the
founders Of the constitution.
/ There is going to be q big fight over the
! Crano National Bank bill. The limit eStab- |
| lished By the original bill, twenty years
| has already been reached by one organiSa-
! ton. and during the year beginning Feb |
ruary %. 1888, ths corporate existence Oh
/ sos banks will terminate. These banks
have a capital of $909IO,T50, and bank
note circulation of S., ,l60,9S0. Ii there Is
to be legislation extending these Charters
7 II should be known to the banks at once
The argument in favor of the continuance
of the banks is that the system is no longer
an experiment Its establishment was
prompted by the demands oil the
government, seeking to find mar
ket for its bonds. This ne
cessitv has ceased to exist, but the system
has played such an important part III the
promotion of business transactions and IN
the development of trade that its discon-
tinuance would really he disastrous to the
country. The National banks hold undl-
yided profits and surplus, in addition 10
carital, amounting 10 over SlS3,OOoVOo'
This sum represents the profits which have
! not been divided TO the stockholders dur
ing their existence During the four years
from 1876 to 1879 inclusive, the loss to the
National banks through the failure OF debt
/ ors TO pay their obligations aggregated
sS5,St5.O6Q Such, however, was the
! strength afforded TO these institutions by
the fund of undivided earnings that no Sc
, rious consequences followed.
, These corporations, it is said, like indi-
viduals who have successfully carried on
business and have gained reputation for
; fair dealing, naturally desire to avail them
selves of the advantages and profits which
= the good name they have earned will bring
= them. OF minor Importance, yet worthy
= TO be considered, are the expenses and in
/, conyeniencies incident to the new organl'
zations which are avoided by the contlnu'
ance of their charters. There are in exist
y ence trust funds now legally invest
/, ed in the shares of national banks
y i which can not be carried to the
It new organizations on account ot an
absence of authority to make the subscrip'
ton, but which investments can legally
u continue under the extended charters. II
II has been urged against the extension oi
: these charters that minority stockhOlder:
l. who desire to retire from business, with
drawing their investments and terminating
their liabilities as stockholders. ought mo-
10 be compelled by q majority vote how
u ever large. to continue beyond the origina
eS term of twenty years. The bill proposed
II bv the committee so fully protects the
N rights and property of dissenting minority
stockholders that this objection can have
but little weight. Every stakeholder wh(
:. honestly desires to withdraw from the as
sociation and take the proportion OF capita
and surplus to which he is entitled
can receive its value as fully and more
:, promptly.than is possible by any metho'
of liouidation. He can not be forced t
% make diSadvantageOus sale OF his StocS,no
n be compelled to accept whatever the ma
ioritv of stockholders choose to allow him
: ON the other hand, the minority of tn
" stockholders is deprived OF the power t
dictate unreasonable and oppressive term
:" 10 the majority, or to force sale OF tn
shares upon those who prefer to contini
yo in business. upon terms far beyond thel
Tn intrinsic worth. The only advantage whlc
- it i claimed by those who oppose this eN
tension will result from nOu-action is tn
delay to the government in realizing tn
gain and advantages resulting. from the los
u and destroyed bank bills.
g. The delay in sending in Sargents nom
rk nation is considered omnious.
ny Col Seaton of the Census Bureau, says
!, will require between eight and twelr
he 10 cnp,plata the CPnSIS
The vote OF Senator David Davis for tn
IL Democratic candidate for the ClerkShip
y the Senate. to-day, and that OF Senate
les Brown, of Georgia against him, by whic
he was defeated. suggests the belief tbs
% these two gentlemen have changed the
no views.
:, W. ". Curry. OF Indiana, claims he his
g secured Tipton's place in the Treasur
-. Department. "
o' Austin Corbin, of New York, was, to-da.
e. before the House Postal Committee, srgin
tie them to recommend subsidy of 5000
OF annually, for six days maii;steamers aero;
the Atlantic.
-, Bob Toombs, OF Georgia, in an intervie
Il" here. to-day. decides the propoSedlcoalitio
n OF Blaine and Brown, in 1854, could WI
rel about as we'll as Leander could have swul
-. the HelleSpont with six Xpound cannon 0
~ his back He wants 4 Staunch buSlne:
II man. like Justice Field to head the ticSe
in Atkinson. Cowden and Scott who haN
:; been here several days, left tor home, I
u night. Ian.
its
,m CONTINGENT EXPENSES.
.s;,,ox.. ros,,.,a,x- go.ss From, Sen;