The news & observer., 1905-01-25

tionS. all OF WnOm snail be and are
hereby constituted ex-officio the ex-
elusive members of said commission
land whose powers and duties shall
be as from time to time precribed by
law.
eff at any time the Building ana
Loan Commission shall have good
req son to think that the standing and
responsibility of any building and loan
association or company doing business
in this State or it's mode of business
is of "a doubtful character. it shall be
its duty to examine and investigate
everything relating TO the business Of
such company and to that end it is
hereby authorized if they deem it ad-
yisable to appoint Il suitable and COM
petent person TO make such investl-
CATION who shall file with the Build
ing and Loan Commission full re-
port of his finding in such case
The term Building and Loan AS
sociation" as used in this act shall
apply to and include all corporations
companies societies or associations
organized for the purpose of making
loans to its members only, and of en-
abling its members to acquire real
estate, make improvements thereon,
land remove membranes therefrom
by the payment of money in periodical
IinstallmentS or principal sums, and
for the accumulation of fund to be
returned to members who dc not OBJ
tain advances for such purposes. and
when the funds of the corporation,
lconlDany society or association amount
TO certain sum per share, or other
wise doing business in the manner OF
what are commonly known as building
and loan association; it shall hc un~
lawful for any association doing buSi'
ness in this State not so conducted, to
use in it's corporate name Building
A inn or hllildinU
Citations. or in any manner or device
10 hold themselves cut to the public
as a building and loan, or Kindred
association.
The Fncampmcnt Grounds B;i!.
The bill introduced by Mr. Empie,
of New Hanover, S. B. Sc. To en-
power and enable the city of Wilming>
ton to dispose OF or sell certain lands
owned near Wrightsville Sound. ana
invest the proceeds in public park,
was taken up, but as there were sew
eral gentlemen absent, who wished to
be heard on the bill. its consideration
was postponed until Thursday.
The bill is as follows: Whereas
by a deed made on the 31st of July,
1889. and registered in the Office #
the Register of Deeds Of New Han
over county in Book No. 4, page 566.
d certain tract of land consisting of
yeyed to d. G. Fowle Governor of
North Carolina and his successor or
successors in Office to be his and theirs
so long as the same shall be used for
and as a permanent encampment for
the white troops or soldiers of the
State Guard of North Carolina. and
if said property should ever cease to
be used for the purposes of the per-
manent encampment for the white
troops or soldiers of the State of North
Carolina then and in that event said
property shall Immediately become
Invested, and revert to and vest in the
Board of Aldermen of the city of VIII
mington for the purposes of a public
park for the citizens use and pleasure
in fee simple, and whereas for more
than twelve years the said property
and premises has ceased to be used nv
the State for the purposes of the per
manent encampment for the white
troops or soldiers of the State and has
been wholly abandoned for all pur-
poses.
"Now the General Assembly Of
North Carolina do enact:
THAT the title of the State is here
| by declared to be abandoned as to the
said property, and the same is hereby
declared TO be vested in the city OF
Wilmington for the purposes declared
| in said conveyance.
said city, the Board of Audit ana
Finance concurring. are hereby en-
powered and authorized to sell and
convey the said property for sucn
price and to such persons as they
may deem proper, and they are hereby
directed and empowered to reinvest
the proceeds derived from such sale
in lands within the corporate limits
thereof or outside and beyond said
limits a some nearer or more con-
venient locality for the use and pleas
ure of the citizens thereof for the pur-
poses of public park
Bills Acted Upon.
The committee acted upon the fol-
! lowing bills:
s B. 116, by Ward To amend sec
| tion sos Of the Code of 1883, in rela-
ton TO homestead. It amends the sec
tion by adding the following: The al
ilotted homestead shall be exempt from
levy so long as Owned and occupied
| by the homesteader or by any one for
/ him, but when conveyed by him in the
mode authorized by the Constitution
/ (Articlc 10, Section 81, the exemption
thereof ceases as to liens attaching
| prior to the conveyance The home
stead right being indestructiblc. the
| homesteader who has conveyed his al
lotted homestead can have another al
lotted and as often as may be neces-
sary.
MIR. Mason said that the legislature
practically had an invitation in the
Supreme Court reports to pass this bill.
| He said it was in accord with the Con.
/ iStitution. and that q legislative con-
struction was made necessary because
| of the Supreme Court decisions The
bill was favorabiy reported.
| S. b. 80. by Odell. TO enable mar
i ried men whose wives are lunatics &c
| sell their real estate. Mr.. Odell APP
ipeared before the board, and explained
| that there WAS a case in Concord of
f! an honorable man whose wife is in
sane. He owns considerable property,
but cannot dispose of ii. He said d,
wife whose husband is insane has au.
thority to dispose of property.
Mr.. Ward moved that an amend
ment be made to one Of the sections,
making it necessary for there to be a
certificate certifying her insanity. o:
that the whole bill be re-drafted in
accordance with the Code. The mo-
ton was carried and q subcommittee
of three composed of Senators Bur
| ton Fleming and Mason, of CASTOR.