On motion of Mr. Childs, The House proceeded to elect a transcribing clerk to fill the vacancy occasioned by the said resignation, and Philip S. Dade was declared to be duly elected. Mr. Dade appeared, and was sworn. Mr. Nowlin gave notice that, at a future day, he should introduce a bill to amend an act providing for the assessment and collection of territorial taxes. The following message was received from the Council by their Secretary: 6 "Mr. Speaker-I am instructed to inform you that the Council have adopted the memorial from the House of Representatives, entitled, A memorial on the subject of an appropriation to make the United States' road from Chicago to Green Bay, Wisconsin Territory,' with an amendment, viz: Strike out ' twenty,' and insert 'thirty' in lieu thereof." And then he withdrew. The House then proceeded to consider the communication just received, and the amendment made by the Council to the said memorial was concurred in. Ordered, That the Council be informed. Mr. Wheeler gave notice, that at a future day, he would introduce a bill to grant to James P. Cox and Justus Persons, the exclusive right of keeping a ferry across the Mississippi and Grant rivers. On motion of Mr. Nowlin, The House adjourned until 3 o'clock, P. M. 3 O'CLOCK, P. M. The Speaker stated that he had received a petition of inhabitants of Milwaukee, praying that an act may be passed to incorporate a company to construct a canal from Lake Michigan to Rock river. On motion of Mr. Childs, It was referred to the committee on corporations. The Speaker informed the House that Mr. W. C. Rice had drafted ten maps agreeably to the orders of the House, and he now submitted them for inspection. Mr. Durkee presented the petition of the corporation of Milwaukee, praying for an act to authorize them to borrow money for the purpose of making improvements in said town. Referred to the committee on corporations. Mr. Parkinson, from the committee to which was committed bill No. 2, entitled "A bill to locate and establish a territorial road east of the Mississippi river," reported said bill with amendments. The bill was read the first time, and laid on the table. On motion of Mr. Childs, Resolved, That the door keepers of this House be instructed to close and lock the doors of this House at half past 9 o'clock, P. M. unless otherwise instructed by said House. The House adjourned until 10 o'clock, A. M. on Monday next. Monday, November 27, 1837. The House was called to order, and a quorum not being present, absent members were sent for. A quorum appearing, the House proceeded to business. Mr. Parkinson presented a petition of inhabitants of Iowa county, praying that certain townships be attached to Green county. Referred to the same committee, to which were referred previous petitions on the same subject. Mr. Engle presented the petition of James Blake and 300 others, praying for the location of a Territorial road from Wapello to Dubuque, through the cedar country, and documents and commissioners' report in relation thereto. Referred to a select committee, consisting of Messrs. Engle, Reynolds, M'Gregor, Box, and Nowlin. Mr. Sheldon presented the petitions of inhabitants of Mil waukee and Jefferson counties, praying for the construction of a canal from Milwaukee to Rock river. Referred to the committee on corporations. Mr. Wheeler presented the petition of inhabitants of Dubuque county, praying for the organization of a new county. Referred to a select committee, consisting of the Dubuque delegation. Mr. Parkinson asked leave to withdraw the petition of A. W. Floyd, for a divorce, and their papers in relation thereto. Leave was granted. Mr. Sheldon, chairman of the select committee appointed to investigate the condition of the several banks in this Territory, made the following report, which was read, and On motion of Mr. Quigley, fifty copies were ordered to be printed. REPORT Of the Committee appointed to examine into the Condition of the Banks of the Territory. The Select committee appointed under a resolution of the House of the 16th of November, 1837, to inquire into the actual condition of the different banks having charters of incorporation in this Territory, beg leave to make the following Report: The committee, immediately upon their appointment, proceeded to the discharge of the duty assigned to them by the resolution. In consequence of an excitement existing to some extent in the public mind in regard to "the Miner's Bank of Dubuque," created by the propagation of rumors calculated to affect injuriously the interests of the public and of the institution, and in consequence of the absence of the proper officers from whom the committee might expect to receive the necessary information concerning the actual condition of the Bank, they deemed it necessary, in accordance with the power vested in them by the resolution, to visit said Bank in person. The committee, in adopting this course, were actuated by the additional motive of affording an opportunity to the citizens of the town where the bank is located, of stating to the commit tee such facts as might be in their possession concerning the character, management, and operation of the institution. The committee on their arrival addressed interrogatories in writing, directed to the President or Cashier of the Miner's Bank of Dubuque, (see document attached to this report marked A.) The President of the bank being absent, the Cashier, G. D. Dillon, Esq. returned answers under oath to the questions of the committee, (see document marked B.) From an examination. of these it will be seen that $100,000 of capital stock has been actually paid in; of which $41,147 was paid in specie, and the balance in the notes of various banks of New York, Pennsylvania, Illinois, Wisconsin, and Michigan-that the actual amount of specie now on hand is $42,118-that the amount of bills in circulation is $11,435, of which $2,000 are payable on demand, and $9,435 twelve months after date—that the amount of individual deposites is $3,043-that the amount of debts due the bank from all persons and corporations is $57,321-that the amount of bills of other banks in their possession is $12,177that the amount of real estate held by the bank is $950—that no director of the institution is indebted to it in a sum larger than that prescribed by the charter-that the payment of specie for their bills has never been refused when demanded at the counter-that the bank commenced its discounts on the 31st day of October last, and that those discounts have been made partly in bills of other banks and partly those of her own, some of which were payable at sight, and some twelve months after date. The committee were satisfied with the answers of the cashier to the questions propounded to him, and did not deem it within the proper scope of their authority to inspect the books of the Bank or to count the money, although every facility for that purpose was offered to them by the cashier. The committee remained in Dubuque about 28 hours, during which time no person appeared before them to make any complaints or offer any testimony pro or con, concerning the transactions of the institution. From the investigation which the committee have had, and from the facts which have come to their knowledge, they express the unanimous opinion that the Miner's Bank of Dubuque is in a sound and solvent condition; and they express the opinion also (one of their number dissenting) that the requisitions of the charter have been complied with, although notes have been issued payable twelve months after date, and 7 per cent. charged in advance for loans made in bills of this character, because, however much the majority of the committee may doubt the propriety of such issues, they cannot look upon loans so made as of a usurious character, or infractions of any of the provisions of the charter. The committee, in investigating the matters submitted to them under the resolution, so far as relates to the Bank of Mineral Point, addressed interrogatories to Col. William S. Hamilton, one of the commissioners appointed by the act of incorporation to receive subscriptions to the stock of said Bank, (see document marked C.) to which answers under oath were returned. (see document marked D.) They have also addressed interrogatories to E. Brigham, Esq. one of the present directors of the institution, (see document marked E.) to which an answer in writing was returned, (see document marked F.) It appears from the statement of Col. Hamilton, submitted and referred to, that the books for receiving subscriptions to the Bank of Mineral Point were kept open six days according to the charter; that at the end of those six days about twelve hundred shares were subscribed for, leaving a deficiency of eight hundred shares; that some days afterwards subscriptions were offered and received by the commissioners, for an amount of stock exceeding said deficiency, and that the commissioners divided the stock among the several subscribers in equal proportions, according to the amount subscribed by each. It also appears that the first instalment was not all paid in specie at the time of subscribing, but that only two thousand dollars were so paid. The same statement shows that after the stock was all subscribed, and the first instalment paid, the commissioners proceeded to give notice according to the form prescribed in the charter, requiring four instalments of ten per cent. each, on four several days specified in the notice, and a notice for the election of directors on the same day that the second instalment was required to be paid. The commissioners met on the day |