Western Sun & General Advertiser, Volume 14, Number 45, Vincennes, Knox County, 6 December 1823 — Page 2

The eighth fundamental article of the constitution of said corporation, is, that the total amount of debts which said coporation should at any time owe should not exceed double the amount of moneys actually deposited in the haul; for sate keeping. And it is expressly found by the jury that they were indebted, on the first day of January 1821 utid at divers d ys ?nd times between that and the fil ing of the information, in a much lai go sum than double the amount of monies actually deposited in the batik for safe keep-

trig. I nis was mquestionamy a viola-

CT settling a drmbtful question entne subject, but namnl llic Knox circuit Cuutt as the piacc wheic the pioci edings weic to b- had, fto:n a belief that the charges al Icgcd against the corporation wctt proporly cnquirahle into in that court. In this vie w of the subject the question as to the venue remains u settled by the act of assembly. In looking into the books vc h v seen no case where the point is xv essly decide d. The statutes of JeofaPil'i not direr' !y embrace infotm ations. Tuc 9li of Anne chapter 20 sec 7 except c which only cx' nds t tin: tisur-

pa'im of corporate uflio s. IiU' they may tion ol their chatter. Although ptovis bu amended as was thr case in the l-injj ion is made, in this article, for mulcting vs Wilks, Uurr 25 ami Quo War-' the directors, under whoscadministration rat infonn itions b 'mg in the nature of' such an excess of debts should be crca civil proceedings most ol the principles ted, personally liable for the amount ol rcgma'iog civil suits arc applicable to such excess, by action of debt and Sec th m he eas after verdict may be as- yet this violation, of this article, is no less srnd i'ed t a .mvi in England after judg- chargeable against the corpoiatoin than if m -e by A.'i'V Dicif where the want ol a no such provision had been made. V .'i is not error. 7 Hae br 43 j It is also found that they, with intent I' Ua general rule th it wln-.re a nutter . to defraud See. issued paper to a vast ais o; a 'ransbory nature the venim is im-; mount, w hich at the time of issuing they mvrrial; an-! manv ' of the transactions ' knfw thev had not the means of redeemhere charged, as he contracting debts,; ing, and which they have not and cannot

lssu'mr n aner See, m v hare taken mace; redeem

ft .v there. n if they could bo enquired

This charge, although not in violation

ol m any utm:r county, except where the j ol am express provision of their charter, bank is established, might b' it. quired "f, is evidently contraiy to the intent and i anv enmity in the state. Hut in ihisj spirit ol the grant One of the main ohCise ve arc not enlirek without a venue jeets of tho institution was to make a

In t'-e. margin of ihc inronr.-.ion. vvc hav c p ( -fit bv issuing paper, or bank note-.

4K. ox county and circuit, which may and the plain design t the whole chat

s o. though imperfectly, for a venue tcr and of several provisions in particular,

th ugh the whole case, although no was that they should not issue more paper

vvniie referred to in expnsa words , than they could honestly redeem. lieu

Aid to this tint the reevd informs us they arc lound gtiib y ol knowingly is:ui-

thecnt hor the trinl of thi rauc nas ing more than they had the means of re-

he d . V:ocenncs in th Knos c: cnit. ; deeming, with a fraudulent intention.

and thvo we have riou the law a. id the j The privilege of their charter, and of

rccot I i tain c irges oxmmica r.gaiosi name cnancrs gencrauy aiiows r an issik the p I directors and company, of; ot piper, greater than could he redeem-

tlu m ' lucernes, the etate ba d; I I ed ll it was all brnugnt forward tor re

Iiclir originally t s'nhlished at Vin- j demption at the same point of lime, but

it must be within th- power of those institutions to form a tolerably correct estimate, of the amount of pap? r, they can redeem in the otdir.a'y course of busin. -s How much soe ver, therefote, the it ,al i!-

i'y of a bmking company to lcdecm

, originally t s'nhlished at Vin

c !-, in an information filed in the K .b cui' court, and thoe changes of s oil a natu e a-i mav be supposed to have taken phce where the bank cs establishe l, a tl ran;-ic,,d it; businrs; which bo n e t- 'd with the imperfect ven-

U " 'he ..gin. if it will n t tender the - it p-per at any p otieu! ar pit ted, tm'l.: ! vr nie t v-,vct, will at b-rt s'.ow that the eeu?ed by the particuiat cir tin s a; ile'-'ct i: j v" of the lowis crades of in-! in which it might be place; yet w!;;;;

fori"!

only cxamlno go much of this evidence as1

relates to the charges wc have just examined.

It was proven by these witnesses that the corporation was indebted, in nunc than double the amount of money deposited with them for safe-keeping. Bndinot one of those witnesses, deposes that such was the condition of the bank in April 1321, and for two years previous thereto, and that they had loaned out the money deposited with them by the U. S Heeman another of those witnesses, deposes, as to the debts of the bank b ing rnoic. than double the amount ol their a vailablc funds, and that two dividends of profits had lr en declatcd since the bank refused to pay specie. And Prince, the other of thoae three witnesses, dt posts that the bank was indebted about thite hundred and seventy three thousand dollars, and had, at the same time, but thirty ne dollars io specie, and no other available, funds; at d that, two hundred at.d eight thousand dolhis, of that sum was this for money deposited by the United States Ti e icstimor rf those witnesses cleoi b establish the si- t ra facts of the cotp.oi ation's being c-Sr ssive.ly iedebttd. n u kig improper dividrnds, atti en bezz;iia the monev deposited by the United StaUs,. The chavge ol issuing mote paper than they had the tv. ans of redeeming is ;uh ptit beyond a doidv.; but whethi l this p.a per was i sik d k- iigly or not rests in tiicly on piestimj) i n. Had they issued no more piper than they vvete amh ri2i to isue. and tlicby kept their dcMs wi hin the limbs pn sc ribed by the it cl ai-

tcr. t'eev might siil hae luei urrab! to

lidecmall their paper, but r that ese

tne presumption woultl he bent, t, ;,t at the time they bv came thus i' dthtcd. they had t' intention to defraud tJuit

creditors. Hut when we see them trans-

tending tho.u bounds k not only creating debts to a vast -an ount, I tit even after they had discovered their inability to redeem thtir t.otes, still ineieasirg the demands

against them, and Icssming t hi i i ability l

In the cnstituuon to prevent t:,c izizwio of tin e I'M, Lists, is t lie cl',ct upon ptia'e pi opei ty be what it n ay. And there can be no doubt but that this judgment, so tar as it ai::i.otizs a seizure ot franchise into the hands and rustor'y of the state, warranted by law. When i appears that the liberty has bten r-r.ce K anted, Mtd is fotfeitcd by misuser or nonttser, the ju'tgo ent shall be ihat it bo seized into ti c Rii gs hai ds. Year brrc ol tlit- 15 Edw. 4 cited in 2 Kyed 4( 7; at.'J such appeal s to be. the law at p'csii:!. Thus fat cvu thing appears to be regular. iUu when u t ptocccd to that part ol the judgment thai authorises a seizure nto the hands of the state of all the goods and chattels, rights, credits, and efTectSj together wiih all and Mi'gular the lards, tciumcrtsand I eu diian ents of the corporation, we are compelled to pause, cr-J nv.nutcly examine the gtcur.ds on vU ich thi pait of the judgownt I as bten founded. (TO T.F CONCLUDED MT.T VVF-I.K.)

PA'

W!1,MN 1 A GOW, "IN I'ALLK S II N F. ILLINOIS A

0 AS io-t u . eiv eii. ti;: eel from

lad i . A'cr, a gei i r.n assortment CI h'?f-G( ads. Hardware, CtJlenf and Qu eisuure (Jompiiaing an eiegat.t ami extensive ac1 sovtritt nt, .I:rnrg wiiri are thr .llvin : uper IV i . ;.i ,' iii-.ck Cioths, J'nhUing h ow j.r'u ed do. Supei ;;nd c(mmen Casuneres and Caslv nt is,

Hec, White, !x I Yellow J

Hombazetts assorted,

Toilinett and Mvrsui.les Vesting,

' Tim bonted, Ltr.o. Plain and V gmn,

Hook. Jaconet, Cairbric and Mcuius)

tl t

tl,

U , ; KiLiwingly tiansccnca 'tie oomuis ot n nte, an:lotl,er circums,ance3, I estv, bv an e;o'bbant issue ol paper a:

onion -f the principal changes j thus willfully destroys its ability to meet

tin jtfv' e.cnrands against it, it looses all

,1.1-1 ., i i i il nooK. jaconet, caironc ana .ciitu - ho th-cbaigc those demands, by making ,. i r r . .i .iiii ' Muslins, , -.n menus ot ptrh's tothe stockhokhis i , . , . , ... .i .i i i Scotch, atid otliCi va-inrrnsiris, at.d h:rr.;rg mt ad Ihe money thiosutd j j ( ' . with th.em n li e United States &c :md 1 , t,...,.,,o . . ,i . -n- di'.scv.and W;O.V.w.7, a.i their own tunds. t:xccpt the tnfliig ' ... I I - 4, - . i ti .i v ommoii Straw 1 stin oi t:.!!tyrne dollars, the picsun.p- . T, i r t n i . .. . - ... . ..' . l ui iiitu e, rancv at.d Kob Roy i'nr. .. Uon occomes in csiauh-c, Uiut they kne w , . ' , 1

t; re C Sl

!e cei t.unto every common mi here aro several charges which v.tortan. and from the manner in "V are laid it might tv dovbt'ul 'hevcouhl be supposed to'.ea f their charter; but it may be ed tint ifanv one of the eh . !i am nrn's fn a violation f thr -s suITi m- nllv described, it will te verdict. A m! we th'mk the

fi. fifth, sixth, and nin'h charges are 0v.se i ibed with all the cettainty that couhl be xpected trooi the nature ol the transar ions, we shall hae orcasiou hercaf tcr, to examine whether anv, or all of thoseehirgos roe MiTuient to amh i ?k the ;z ire of the f anehi"s

Fifthly. There is no fine assessed ti

the t..te. It has been nireadv shown tint the fnv in V is ea.e is merely ncmiva Its :;b sr re cnno bv '-o;. I'l-nintbc ' ase ot osurp- tin di . Kv the art oi itu u'te fi ' .r the r' ml nt mm- be Ci sidvTed in 'he Vsrvtin fthe rnuw It v ; e o ovin w as rtuirrro" it is c. i'itv e'v frn' thtN ht netit of 'lie de'" dan's that they cannot as:gn it fr cr o isi;i the sixth argument f r fnttr i

r . e: t;.t i VT

an I the swn'h w' tch 'he

al trior, v" now examine i

color of excuse and violates the fust principles of its e xistence And there can lie no doubt but such a pvnecdure is a h'eacb of the implied conditions on which it received this liberty of issuing papet, and :s consequently a forfriturc of such ihe ft v. 1 rtmatcly connected with this subject U the charge f makmg largo divith "6 ,(f m ofi's, w ;i'c t!cy reused to tad-co. in ir notes in sp. cie or any thine else It tiny vere at the titr.es oftl-rs; diidi.nds able to redeem their notcv, ard refused to do so, it mai ifests a 'tat.dnlrn' ittt.:i n; if tin y '-.ere then unable tft re '.on them, tlieir conduct s'iows a piei ininat'en 'o continue so. The cha"ge o' eod)i zz'itg !arce sunv

(.anion Crapes, asotted,

Flag and li-.ndana Ilaiidkerchjeff-,

Siik, 1 Cotton, I

IO SI'

Wo-.sud. J Fancy and l'lain Silk Shr.v.h,

'f m'uev deposited wiihihe;i fir satek" pin:, by the United S ates, xc. is als vi''a.'ion of th'" firs' ptincipU's t; eii charter, antl idently sl evvs ti nt thev cannot be s fely trusted witn such impct - iiit p m iieges. Ibi i i.urgd to t t!ie?.e chs'ges are onlv ag.aint the prcsn'ctit a'nd v'!ee-as -f the e(--noration, and no airaixst th.c .r-k -1 'det s, who compose the geat

h !y of t' e cimpany; rial 1 1 at t!;e fi . n

son oecomes lricsistuj e, uiut tney j;ncw,

at the tiir.r many of those debts were created, that th; y eookl tot discharge them; ami that al t!,e time thev issued a lare.e portion f'liir papet, they must 1 ave known i'mI t: ey had not the nieans nf ic ftrtfti t -.nil iK'it hi tli i i r 1 1 n

viv., lull..: sv, hiivi nun III VI IV- III miiuii ... , , . ,-, ... ., Domestic ibauis awl Snipi's, rotif-t' ot ht::mess thev nevrr re.ole re- .

deem it. W'. therefoi e deem the civcumsfr.rces sutmicntv siie i.g te auth.orize lit. jmv ' find this clrarge, as laid and

Conelin'e. V at the comt acted correctly in e -IV.sing :e in-M iu '"n ns rerjuiied. ; We ra)w rt. tin n lo ih- six h assignrn n ni-ich h That that part of tK jnd-.-i r:t, w h.ieh uihoiizes a s izttn e.l'iho P'iv.itt property t ' he t o porai 15 is reuejian' to the eonsritmi' n W e a 1 1 not able lo discover that our i . . i .

oosti'.irion provinces ary auetafon in ihe piopei loim c-f tnr judgment against

ucm a corporation as this. yju'Sl, JiVMJX

i i . , . i z . i . r 1 1

i nen is mu-nng in ems ease Mini Tails 'Sl'C; JJ wivi: i',"T

And ns-iTiv oiin articles tco tedious 10

do. 'tre:v. ;. and White Shcethn?.

Sh'ulii g, oid Long Cotht, Lael'es M e c o and Kid Siiocs soiled, Ki iver a- Ffks, Ih i ami P. rhct knives. Mill, and Cuss CutSawq, He has 'dsn rccciz't l from Ncxl'

(f !(nis i supy.lit of II wanna or ,r .

(if 'NH)W"IU

IMi'MiLM., 1 I 1 LA.

wuo.m the s xi-nth section ei(lb fi st ar vtcle of the constitutinn, Tha t-i. n ans piopwly 'Jl'allbo taken for puh'ir hh, a ithout lJ;e c '.scot I his i pie s n'ativrs

Thetis no ch wry efn!nhMMt ' h ". ati n n !ich in p nt ot I v t ' e I : ent. That a corp-t v ' rU r ""sehitte" for misusing g. its Iranchises is a doctrine , t ji vv disputed, c 1st 'a -i Kvdd on Cor. 2 vol p. 1 f !;e e ses 'here cited. Fo there i:u,)!iO 1 condition ann e l to each tin- grant, whrh, iT v VxT 1 for-

If there aie irebviduals. (as it is eon tend' d the stock hedders ate.) w' o liKf separate prop' rty h the bat k. :n I th 1 sepal ate property is o! sue h a r:.tototl :'

c -ios slnudd not be eizeel. to the rvasi- ; t can exit independe nt et the cerpor:iiin

iie:t mjtry ol the wh'de ee.rpot ation. !:v he mis;ot.;uct ef i lew . it mnst be ' collected that whec the go ei r.mrnt

AS pviv: r " ) i ' 1 . '

(S x cotpvMtioo exists m a select ! dv, as is tlu case in ot corporation?, thr act of the select. IkhU is ti e act of 'he corporation See fr st Kyc'd on Cot . 38 9 ai d the case there citeel. lit re although the eh clion of elii cctot s, nn ' hx makin.g of bylaws existed wim the s'rre-hohl rs. vet tf,.c managen cut ef

ic'v the whole franchits, : It r. hr.st ; the whole monied concern, which was

losuuch as it is he dntv of a corpor- i the principal object of the institution, at t n te act op to the end or h sien, for ', was evidently under the con'rol of the v h thev were c-Mt d, 1 W Com. president and directors; and tln irnc'sin Isy: v w'umi they iHirsuo such measincs relation thei eto, were e-ddigatorv on the as h dly frutr oes this desigo, hc reas- whole body. All the charges wc have

o of thi'ir existence ce ;cs, and it is but exaniiticd. were

ju that their existence sh.u'd also be sphere of the t-- v-nfed Wiu't'n-v every slight elevi- tlic w ' o!c Co

ati :i ft o n t!o int r,!inn of the charter j their misconduct, so fir as their fraiv his. late its chater, to this pivileg", of heJd s old occasion a forfeiture is not the ' es are in question Hut in t' esc charges 1 mg stock in this hank and eirnrrrl (Vt.-

I I . 1,1" . II I .

or alter it is eb voh e !, tin jiU L'nn "' 1

no e fleet up'-n it, huf the nv. er i 'n'i'h to it, notw ithstuneling the judgment, in the same manm he was bt i re. Hut i' it is contendvd th.it urh a ptivate p.M ty exists:, m the im!i idual storUbew't rs, v.ldeh w;I! be desimvcd if the liael i-fs f the c-'-p.-M-atinn are se'ztd, inasn uch

i:v is guuranteod bv ' e t the constitution must v ; ; r:a te c the t otitir ued whisks, or otherv ivr he it.nihnatcd: we shdl

hr. 1 that t:.is doctri i- not warian'rcl bv the consfm.tir.n. The piivilege of l olling stci; in this bank is insepe ably con-

nee ten wutwu cxisttncc as a corpoiatii-n

rvt irw:n. il wine!, he is ilkpcscd tej se ll low iur ( ash ( r It.-vax

4'-6t NoM-.-h

, ioJJ.

v evti ing, 3d iait. a m gio

rerc within their proper j and inasmuch as we have seen that thc ? prcsiilent and directors, and j existence of thc corporation depends on npornion is answerable for j the implied condition that it will n t vio.

j ; s'ion; nut wrn me grand, icienng. tne w noie cornora'ion. oy tm ir corporate ( eontinu mee em the same implied crm'i ro- I'rions and stneions intlie charter name, are charccel and found euiltv and of ; ti;n. The orp.ilm ,1 .t:.,. r.i

t . . , - i.i. in ,mu '(Jib ni tUP b b rn vi da'etl. there can be no ques- coo e all are i'ludeel therein. corporation b.'conie the agen's ejf the ti-v but thir franchises are thnvhv fir- Xin'hlv. Thc court refused lo instruct stock holders, and if they v io'atr tc co fei 1. Several ofih ehugs. futulhy the jury that th? evidence was insufficient ditiot.s on w hich he enjovs this privilept'- ptrv. against tliis ci p Tatioo. ae ,,f to authorize a verdict of guilty. his privilege is immt di uelv mdwri ,'

this otu-c, atv.l shew that thev hnveevi el ilv ihoseel th i n si inoortp.nt p'i'i

le.y. to the mro'si poy it ot' ant of lh' como . t,- ' ncral

. . . . i r r ...... . -

m-'unii HM;:t iiiruii; lcuii id oi- u leiieire, oy tins act ot Jus agents ,. sttuet 'l e je.rv to this effect, and on their j will thc regard whirl, thc crMiM'outioTi h ,cf,r.t t , ,,vr SMC, instruction a bill eif for private nrtmrrtv urmr e... i. r...,-...

c ntri,. wiv f,V, inhVb the whole tv from ronibihuion, h a eii-..!,,.;

riiinenariu rot ti:c cvij.lrcc is set lottn. c shall the corpcution. iSo that v.a sec nothing

nr Hm (!k (I Dolls. Kcwnrcl.

;.a i . l Iron. th- cl, i. 1,

r.n td

!"' i. o v.e.ti an i.r.rr.cd

I'AThHY.

Chancs is ;.b( ut tutn.y fiVe vc-.rs Ct -:e, 5 feet 9 or It) inches t.jgb.'slct.i tr made, yellow completion, b.-f. on v : he went away a brown or snufl ol. tin ci coat, linen pantaloons, fur hat cr m-iueia bly weun and ratlu.r sn ad I!c te ol; "ithhim e vi tal Mtic'e- of t r li: g n .t knov :,. PaJst y is .ibout 1 e r ':2 y.a: e.! age, sh it, t ;ck e;uite bhc!; coaie tcttircs at.d bad c-untc-iir.ccs. S had on a white musdn e'rrsv 'ar.u edict etc trinuntd with black liblrn. Took with her two p'ain elomestic cr:ton eb esses, e nc stiiped jarr re't mushn tbess and other articles oi c oth ng ret te ce Hccte d. Tin above reward will be given for the'r apptchtnsit.n or fif'v for cither, with all reaor?.b'c chaigcs, if delivered to us at -fJ na I:ui nace, in Hart coc-niy, or it) any jail in this state so that we can get then, again. HOLDER MAN St WILKS. N'v. 13, ir:.l. 'li3:n. ttTThe ll'rytrrn Sun. "inccnr.cs C r.ft:r Indiana; e;lis and I'.m.uircr Hice.kv ille. wili ph ase to insert the . !t. e v other week for 3 months. ;o d stnc ' ic accounts to this office for collec tiun.