Page:Journal of the Sixth Legislative Council of the Territory of Michigan.djvu/117

27.] residing west of the meridian line to subscribe; and, for that purpose, books shall be opened at within  days after the passing of this act, by commissioners appointed by the said president and directors; and days thereafter (during which time the said books shall be kept open) the said commissioners shall proceed to distribute the said stock among the subscribers thereto, according to the charter of the said Farmers and Mechanics' Bank."

Mr. Millington moved to strike out "five hundred" and to insert "nine hundred" shares.

Mr. Martin called for a division of the motion.

And on the question, "Shall the words 'five hundred' in the said amendment be stricken out?" it was decided in the negative, as follows:

Yeas: Messrs. Millington, Renwick, Satterlee, Stockton, M'Donell, president—5.

Nays: Messrs. Bacon, Britain, Doty, Durocher, Farnsworth, Hascall, Martin, Moran—8.

So the motion to amend was lost.

The question on concurring in the third amendment being then taken by yeas and nays, it was decided in the affirmative, as follows:

Yeas: Messrs. Bacon, Britain, Doty, Durocher, Farnsworth, Hascall, Martin, Moran—8.

Nays: Messrs. Millington, Renwick, Satterlee, Stockton, M'Donell, president—5.

The question being on the 4th amendment made in committee of the whole, to be added as a proviso to the 11th section, as follows:

"Provided, That the bills of the said Farmers and Mechanics' Bank, or of the branch thereof, shall be received in payment for debts due to either of them."

The yeas and nays were demanded on the said amendment, and were as follows:

Yeas: Messrs. Bacon, Doty, Durocher, Farnsworth, Hascall, Martin, Moran, M'Donell, president—8.

Nays: Messrs. Britain, Millington, Renwick, Satterlee, Stockton—5.

So the amendment was concurred in.

The fifth amendment being under consideration, as follows:

Add to section 19: "Each of said branches, before it shall commence the business of banking, shall have the sum of dollars deposited in its vaults for the purpose of redeeming the bills thereafter to be issued by such branch."

Mr. Millington moved to add after the words "such branch," "and the mother bank." The motion was lost.

The fifth amendment was then concurred in.

The sixth amendment was also concurred in, as follows: