BANK OF COMMERCE.
Mr. CARTER moved to suspend the constitutional rule, which was agreed to; yeas 68, nays 0, and that the bill [S. 164] to amend the charter of the Bank of Commerce, formerly the Indianapolis Insurance Company, be read the first and second times by title, the third time by sections, and put upon its passage.
Mr. CARTER said: This bill is to amend Section 2 of the charter of the Bank of Commerce, in which it changes the section so as to allow each stockholder to vote one vote for each share of stock owned by him. Under the old charter no stockholder could vote more than one vote without regard to the number of shares owned. In this way it was found the stock could be manipulated so that one-fourth of the stock could control the Company. Another provision makes the stockholders liable personally for three times the amount of their stock.
The bill passed--yeas, 67; nays, 0.
Mr. FLOYD moved that when the House adjourn it be till 2 p. m. Monday, March 28, 1881.
Mr. TAYLOR moved to amend by fixing the time at 10 a. m.
The amendment was rejected and the motion was adopted.
Then the House adjourned.
