The senate met pursuant to adjournment. Mr. Abercrombie, from the committee on county boundaries, to which was referred the bill to be entitled, an act to define the boundary line between Shelby and Autauga counties, reported the same without amendment. The bill was then read the third time and passed.--Ordered, That it be returned to the house of representatives.
Mr. Jackson, from the joint committee elected to examine into the affairs of the bank of the state of Alabama, submitted a report; and the lobby being cleared and the doors closed, the report was read and concurred in.
Mr. Casey offered the following resolution: Resolved by the Senate, with the concurrence of the House of Representatives, That the injunction of secrecy on the report of the committee elected to examine into the state and situation of the state bank be removed, and that said report be spread on the journals of each house; which was adopted. Ordered, That the resolution be reported to the House of Representatives for concurrence.
Mr. Jackson offered the following resolution: Resolved, That the judiciary committee be instructed to report a bill to this house, repealing that part of the charter to establish the bank of the state of Alabama, which enjoins secrecy either on the general assembly, or any committee elected by both houses thereof.
Ordered, Tat the resolution lie on the table.
Mr. Shackleford, from the select committee to which was referred a memorial to the congress of the U. States, on the subject of a donation to the trustees of Lafayette academy in the village of Lagrange, reported the same without amendment. Ordered, That the memorial be read a third time tomorrow.
A message from the house of representatives by Mr. Tunstall,
Mr. President - The house of representatives have read a third time and passed a joint resolution to remove the injunction of secrecy imposed on the joint
committee appointed to examine the state bank; in which they desire your concurrence. The resolution was read the first time in the senate, and the rule requiring joint resolutions to be read on three several days being dispensed with, the resolution was read the 2d & 3d time & passed. Ordered, That it be returned to the house of representatives.
The report of the joint committee, elected to examine into the state and condition of the bank is as follows:
The joint committee, appointed by both branches of the General Assembly, to examine into the situation and condition of the bank of the state of Alabama, respectfully REPORT-
That the paper hereunto annexed, marked (A), is an expose of the situation and condition of the Bank up to the 11th December, 1826, at which time the examination of the books of the bank, so far as they are connected with the funds of the institution, was completed. The paper marked (B) presents the net profits of the bank, after deducting the interests and dividends on the different funds constituting the capital stock, as well as the expenses of the bank. On the 11th December, as appears by the statement marked (A) the amount due to the bank on notes discounted to individuals, was five hundred and twenty two thousand one hundred and eighty four dollars ($522,184 00.) All means within reach of the committee, were employed to ascertain, the situation of the debtors to the bank; and they have not discovered that any loss will be sustained from the debts due. Nearly the whole of this sum has been discounted to individuals that are considered perfectly good; an inconsiderable sum is believed to be doubtful; but from every information, they are of opinion that little or no loss will be sustained.
In the discharge of the various duties devolving on the committee, their report has been greatly delayed: this delay, however, enables them to present the condition of the bank on the 6th inst. as appears by the paper hereunto annexed, marked (C). This statement is made out by the Cashier, and implicit confidence may be placed in it. By referring to the papers marked (A) and (C) it will be perceived that the condition of the bank has greatly improved since the 11th of December. This improvement is the practicable result of the system, upon which the bank has been organized. The debts due on accommodation paper, have been diminished one hundred and forth seven thousand six hundred and seventy five dollars, ($147,675 00;) while the available funds of the institution have been increased one hundred and sixty-eight thousand five hundred and fifty-nine dollars and sixty-seven and one-fourth cents, ($168,559 67 1-4) by the purchase of bills of exchange, and by the paper of other banks paid in; and still the circulating paper of this bank has been diminished three thousand four hundred and fifty-two dollars, ($3,452). It may be proper here to say something in relation to the means of the bank to redeem its paper now in circulation. The paper marked (C) shews that the bank is liable for the sum of three hundred and ninety-eight thousand two hundred and seven dollars and seventy-three and a half cents, (398,207 73 1-2) including the debts due to other banks, to individual depositors, and its notes in circulation. The amount of cash on hand, including specie, notes of other banks, and bills of exchange, is three hundred and seventy-three thousand, three hundred and seventy four dollars, and sixty-eight and a fourth cents, ($373,374 68 1- 4 cts.) The notes of other banks now on hand, and the bills of exchange may be converted into specie if necessary; and thus the bank is enabled to discharge the debts due from it, and redeem its paper at any time. Of the debts due from the bank the deposit account forms a considerable item. The paper hereunto annexed, marked (D) will show the character of these deposits, and that they have been carried principally to the credit of the state, or are intended for the payment of debts due to the bank. From this view it must be apparent that this bank is able to meet any demand against it, and continues to deserve the public confidence.
The prosperity of this institution is inseparably connected with the financial prosperity of the state. To sustain its present prosperity, the committee have
thought proper to recommend to the Board of Directors, the necessity of continuing the prudent management of the affairs of the bank upon correct banking principles, consistently with the provisions of the charter.
JAMES JACKSON,- Chairman on the part of the senate.
THOMAS CASEY & GEO S. GAINES, - on the part of the Senate.
ELDRIDGE S. GREENING, - Ch'n on the part of H. of R.
DAVID MOORE & GEO. WEISSENGER, - on the part of the House of Representatives.
State of the Bank of the State of Alabama on the 11th day of December, 1826.
|Capital stock paid in,||
$336,773 60 1-2
|Notes of this bank in circulation this day||
|Due to individual depositors||
121,984 56 1-2
|Due to other banks,||
|Expenses changeable upon the institution and remaining unpaid,||
|Nett gain on the transactions of the bank up to this date, as per statement marked (B), exclusive of the dividends and interest due and paid on the capital stock,||
|Bills discounted, due this day,||
|Banking House at Cahawba, (at cost),||
Cash on hand:
Notes of other solvent banks,
Bills of Exchange,
Statement of the expenses incurred, and interest received, by the Bank of the state of Alabama, from the 9th day of January, 1826, to the 11th day of December, 1826, inclusive; including a balance of gain on the 9th of January last.
|To interest paid on the specie loan, of $100,000,||
|To interest from 1st October, 1826, due and unpaid,||
|To interest paid on the University Fund,||
|To interest from 9th November, due and unpaid,||
|To dividend of 8 1-40 pr cent paid on Three per cent Fund on the 9th day of November last,||
|To dividend of 8 1-40 per cent paid on seat of government fund on the 9th November last,||
|To expense account since the 9th day of January, 1826, including the sum of $73,28, due by the institution for officers salaries, unpaid.||
|To gain by the transactions of the bank up to the 11th day of December, 1826, exclusive of the dividends and interest as shewn above,||
|By balance of gain on the 9th January, 1826||
By gain by discounts, premiums of bills of exchange, and interest received, from the 9th January,1826, to the 11th Decem-
|ber, 1826, inclusive,||
An Exhibit of the state of the Bank of the State of Alabama, on the 6th day of January, 1827.
|Capital stock paid in,||$336,773 60 1-2|
|Due to individual depositors account,||125,484 44|
|Due to other banks,||20,188 29 1-2|
|Notes of this bank in circulation,||255,535 00|
|To profit and loss, for balance,||14,021 51 1-4|
$749,002 85 1-4
|Bills discounted and due||
|Banking house at Cahawba,||
|Cash. Specie on hand,||52,484 49 1-4|
|Notes of other solvent banks||151,301 00|
|Bills of Exchange on Mobile, New Orleans, and New-York,||169,589 19|
|373,374 68 1-4|
$749,002 85 1-4
|To interest on specie loan of $100,000, from 1st Oct. last,||
|To interest on university fund from 9th Nov. last||
|To salaries due up to date, and unpaid,||
|Nett gain up to this date, exclusive of dividends and interest paid and due on the capital stock.||
11,317 60 1-4
$14,021 51 1-4
|Gain by profit and loss, brought down,||
14,021 51 1-4
$14,021 51 1-4
|Tuscaloosa, 6th Jan. 1826.||
J. B. COOK, Cashier.
BANK, 6th January, 1827.
By a reference this day had to the individual accounts, composing the general account of individual depositors, the items appear as follows:
|To the credit of the state Treasury,||
$68,593 93 1-2
|To the credit of the University Fund,||
|To the credit of the Seat of Government Fund,||
113 37 1-4
|To the credit of the individual accounts as partial payment on notes,||
|To the credit of the individuals for general account & subject to check,||
|Amount of individual depositors account as reported,||
J.B COOK, Cashier.
Mr. Casey called up a bill entitled, an act to incorporate the Alabama and Tennessee canal company, together with the amendments proposed thereto by the select committee to which it was heretofore referred. The amendments
proposed by the committee were further amended, and concurred in. The bill was then read the third time and passed. Ordered, That it be reported to the House of Representatives.
Mr. Bagby offered the following resolution: Resolved, by the Senate, with the concurrence of the house of Representatives, that the two houses will proceed this day at 3 o'clock, p.m. to elect a President and Board of Directors of the bank of the state of Alabama; which was adopted.
Mr. Crabb, from the military committee, to which was referred the report of Matthew D. Thomason, in relation to the camp equippage, quarter-master's stores, ordinance, &c. reported, that the committee having already examined the situation of the public arms, &c and made report thereon to the Senate, beg to be discharged from the further consideration of the same; which was agreed to. Mr. Jackson called up his resolution instructing the judiciary committee, to report a bill to this house, repealing that part of the law which enjoins secrecy, either on the general assembly, or any committee elected by both houses, to examine into the affairs of the bank. The question was then put on the adoption of the resolution, and determined in the affirmative. Yeas 12- Nays 6.
The yeas and nays being desired, those who voted in the affirmative are
Those who voted in the negative are,
|Mr. Casey||Merriwether||Miller||Skinner||Sullivan- 6|
Ordered, That the engrossed bill to be entitled, an act to improve the navigation of Flint river, in Madison county, lie on the table.
Bills of the following titles, to wit: an act to reduce into one the several acts concerning roads, highways, bridges, and ferries: an act providing for the compensation of B. B. Breden: an act to exempt the members of the hook and Ladder company in the city of Mobile, from militia and patrol duties; and for other purposes: an act to repeal an act incorporating the town of Rodney, in Washington county: an act to incorporate the town of Pikeville: an act amendatory of the laws now in force on the subject of bail in civil cases and an act to establish a road from Montevallo to Greensborough, were severally read the third time and passed. Ordered, That they be returned to the House of Representatives.
An engrossed bill, to be entitled an act more effectually to enable the president & directors of the bank of the state of Alabama to judge of the solvency of applicants for discounts at said bank, was read the third time, and referred to the committee on the judiciary to consider and report thereon: a bill to be entitled, an act for the relief of defendants in certain cases was read the third time and ordered to lie on the table: a bill to be entitled, act to locate the university of Alabama, was read the third time, and on the question, 'shall the bill pass?' it was determined in the negative. Yeas 9- Nays 9.
The yeas nays being desired, those who voted in the affirmative are,
|Mr. President||Crabb||Jackson||Miller||Skinner- 9|
Those who voted in the negative are,
|mr. Abercrombie||Bagby||Irwin||Merriwether||Sullivan- 9|
So the bill was rejected. A bill to be entitled, an act to vest in the county court of Covington county, the powers heretofore exercised by the commissioners of said county, and for other purposes, was referred to a select committee, consisting of messrs. Irwin, Brown and Casey, to consider and report thereon.
Mr. Bagby called up the bill to be entitled, an act to require additional services to be performed by the judge of the first judicial circuit in this state.
Mr. Jackson moved to strike out that part of the bill which provides for a repeal of the law requiring the judges to alternate so far as relates to the judge of
the first circuit; which was lost. The bill was then read the third time and passed. Yeas 12- Nays 6.
The yeas and nays being desired on the passage of the bill, those who voted in the affirmative are,
|mr. President||Brown||Gaines||McCamy||Skinner- 12|
|Ashe||Bagby Casey||Jones||Miller Powell||Shackleford|
Those who voted in the negative are,
|mr. Abercrombie||Jackson||Irwin||Merriwether||Sullivan- 6|
So the bill was passed. Ordered, That it be returned to the house of representatives.
Bills entitled, an act to repeal in part an act entitled an act to appoint commissioners to lay out two roads leading from the ford on line creek, the one to Coffeeville, the other to Tuscaloosa, passed Dec'r. 31st, 1822: an act amendatory to the laws now in force, relative to attachments: an act to authorize the judge of the county court and commissioners of roads an revenue of the county of Shelby, to alter a certain road therein named: an act to incorporate the Rocky Mount Academy in Autauga county: an act to authorize a more equal division of the 17th and 18th regiments of militia in Tuscaloosa county: an act more effectually to protect sheriffs coroners and constables, in the discharge of their duties; and an act further to relieve insolvent debtors, and the better to secure the rights of creditors, were severally read the second time, and ordered to a third reading to-morrow.
A bill to be entitled, an act to authorize parties litigant to take the depositions of witnesses within this state, in certain cases, was read the second time and amended, on Mr. Jackson's motion.
Mr. Merriwether moved that the bill lie on the table till the 1st day of June next; which was carried. Yeas 9- Nays 7.
The yeas and nays being desired, those who voted in the affirmative, are,
Mr. President, Brown, Casey, Crabb, Jones, McCamy, Merriwether, Miller Sullivan- 9.
Those who voted in the negative are: Mr. Abercrombie, Ashe, Gaines, Jackson, Irwin, Powell, and Skinner- 7.
A bill to be entitled, an act for the relief of Daniel Coleman, was read the second time, amended, by adding the words of Washington, to the caption, and ordered to a third reading to morrow.
Mr. Casey called up the bill to be entitled an act to authorize the school commissioners of the 17th township, range 13, to lease the 16th section in said township. Ordered, That the bill be read the third time to-morrow.
Mr. Casey offered the following resolution: Resolved, by the Senate, with the concurrence of the house of representatives, that the senate will convene in the representative hall, to elect the site for the state capitol to-morrow at 12 o'clock.
Mr. Gaines moved to amend the resolution by striking out '12,' and inserting '3' o'clock, which was carried. Ordered, That the resolution as amended lie on the table.
On motion of Mr. Jackson, ordered, that Mr. Casey have leave of absence from the senate, for the remainder of the session after to-morrow.
A message from the House of Representatives by mr. Tunstall:
Mr. President- The house of representatives concur in the resolution of your honorable body, to go into the election of a president and directors of the bank of the state of Alabama, and have amended the same by striking out '3,' and inserting 'six' o'clock; in which they ask your concurrence. Ordered, That the senate concur in the amendment made by the house of representatives to the above resolution. And then the senate adjourned till 6 o'clock this evening.
6 o'clock, p.m.- The senate met pursuant to adjournment.
Mr. Powell, from the joint committee on enrolled bills, reported as correctly enrolled: an act for the relief of the legal representatives of Daniel Duval; which was accordingly signed by Mr. President.
Mr. Casey, who voted in the majority moved to reconsider the voted on the passage of the resolution instructing our senators and requesting our representatives in the congress of the United States, to use their endeavors to procure the passage of an act establishing a land office at Bellefonte, in Jackson county; which was carried.
Mr. Bagby offered the following resolution: Resolved, That a message be sent to the House of Representatives, informing that body that, pursuant to a resolution adopted by this House, and amended in the other house, the Senate is now ready to proceed to the election of a president and board of directors of the bank of the state of Alabama -(quarter past 6 o'clock, p.m.) - Mr. Casey moved that the resolution lie on the table; which was carried. Yeas 9-Nays 4.
The yeas and nays being desired, those who voted in the affirmative are.
Mr. President, Casey, Gaines, Jackson, McCamy, Merriwether, Miller Powell, Sullivan - 9.
Those who voted in the negative are: Mr. Bagby, Brown, Irwin, Skinner- 4.
And then the senate adjourned till to morrow morning at 10 o'clock.