rate of not less than six per cent.; the said evidences of debt being what is commonly known as state stocks, they being bonds of the states and of the United States; which said stocks shall be deposited with the state treasurer, and the state treasurer, or deputy state treasurer, under the direction of the state treasurer, is authorized and required to countersign, in a uniform manner, as nearly as possible, all the bills or notes which shall be presented to him for that purpose by said bank, which, by law, they shall be authorized to issue; and it shall be the duty of said treasurer to register all notes and bills countersigned by him, in a book kept for that purpose, and after the expiration of the present charter, the said bank shall not pay out any of its own bills or notes not countersigned and registered as above provided. The bank shall be entitled to have thus countersigned and delivered to them, an amount equal to the amount of the stocks thus deposited, equal to market value in the city of New-York: Provided, That said stocks shall never be received for more than their face value All the bills or notes at the time of delivery to the state treasurer. not countersigned or deposited, which shall be in the possession of the said bank when the bills or notes are thus countersigned, registered and delivered to said bank, shall be destroyed in the presence of the state treasurer, or before some person appointed by him for that purpose; and all bills or notes not so countersigned and registered, which shall come into possession of said bank thereafter, shall be destroyed in like manner; and all bills or notes issued by the said bank shall have preference over all debts whatsoever upon all the assets and property of the said Farmers' and Mechanics' bank; and for any deficiency in the assets and property of the said bank to pay the billholders, the directors and stockholders shall be individually liable, and shall continue thus liable until all bills or notes of said bank shall be fully redeemed: Provided further, That no stockholder shall be liable for any issues of said bank for more than three years after he shall cease to hold stock in said bank."

On motion of Mr. J. W. Turner,

The substitute was amended by striking out the words "six per cent.," and inserting "five per cent. for United States stocks, New York state stocks and New England state stocks; and in case Michigan state stocks shall be put in as required by this act, the same shall be six per cent. stocks."

The substitute as amended was then rejected, by the following vote:

Mr. Allen moved an adjournment, which motion was decided in

the negative.

On motion of Mr. Hawley,

The third line of section six was amended by inserting the words "as assessed by the proper township officers, or estimated by the state treasurer," after "estate."

Mr. Chamberlain moved an adjournment, but the House refused to adjourn.

On motion of Mr. Hawley,

The second line of section seven was amended by inserting "nor shall said bank at any time pay out any bills or promissory notes of other banks which are not at par value in the city of Detroit, at the time of such paying out," after the word "bank."

Mr. Hawley moved to amend the third line of section eight by in serting the words "selling of stocks and redeeming of the bills as provided in section three," after "publication."

Mr. McNeil moved the previous question, which was demanded and the main question was ordered to be now put.

The main question being ordering the bill to be engrossed and read the time, was then taken, and carried in the affirmative, by the following vote:

The House met pursuant to adjournment, and was called to order by the Speaker.

Prayer by the Chaplain.

The roll was called, and Messrs. Davis, Fox, Haight, Morton, Salyer and Wright were absent on leave, and Messrs. Allen, Flower, Ferguson, Hartsuff, Hatch, Kilborn and Moffatt were absent without leave.

Mr. Hobart asked and obtained leave of absence for Mr. Moffatt for the day.

Mr. Andrews for Mr. Ferguson, for an indefinite period.

Mr. Wilkinson for Mr. Kilborn, for two days.

Mr. Deming for Mr. Allen, for one day.

On motion of Mr. Lockwood,

The action of the rule requiring the reading of the journal was suspended.

Mr. Tilden presented the petition of James M. Chamberlain and

one hundred and forty others, for the incorporation of a company to. construct a plank road from the city of Monroe to the village of Newport; referred to the committee on banks and incorporations.

Mr. Bacon presented the petition of James H. Hale and one hundred others, for an extension of the charter, of the Farmers' and Mechanics' bank of Michigan; laid on the table.

Mr. Burk presented the petition of C. F. Howe and others, of Berrien county, for the vacation of the plat of the village of Bloomingrove, in said county; referred to the committee on the judiciary.

Mr. McNeil presented the petition of James Kipp and twenty oth er inhabitants of the county of Genesee, in relation to the tax laws. referred to the committee on ways and means.

Mr. NcNeil also presented the petition of E. Rockefellow and forty other inhabitants of the counties of Genesee, Oakland and Lapeer, for the restoration of the law providing for capital punishment; referred to the committee on the judiciary.

Mr. Hammond presented the petition of Amos Gould and two hundred and four, others, relative to a certain state road in Shiawassee county; referred to the committee on roads and bridges.

Mr. Hammond also presented the petition of Amos Gould and two hundred and ninety-three others, for the vacation of the county site of Shiawassee county; referred to the committee on the organization of townships and counties.

Mr. Parkhurst, presented the petition of Loren L. Treat and forty-one others, of Oakland county, for an appropriation of internal improvement lands. to improve the road leading from Pontiac to Lapeer; referred to the committee on internal improvement.

Mr. J. W. Turner, presented the petition of Thomas Bates and two hundred and eighty-three others, of Lenawee and Hillsdale counties, for the organization of a new county from parts of said counties; referred to, the committee on the organization of townships and counties.

Mr. Pennoyer presented the memorial of Stephen L. Lowing, of Ottawa county, asking that authority be given to the county court of said county to grant divorces; referred to the committee on the judiciary.

The Speaker presented the memorial of Joshua Moore, relative to, a certain claim; referred to the committee on claims.

The Speaker also presented the memorial of the board of trustees of the Olivet institute, asking that authority be given to a certain minor to convey to them certain real estate; referred to the committee on the judiciary.

Mr. Parkhurst, from the committee on engrossment and enrollment, reported that the following entitled bills were correctly engrossed, viz:

A bill to continue for a limited time the charter of the Farmers'· and Mechanics' bank of Michigan; and

A bill to authorize the wardens and vestry of Trinity church in Marshall, to convey certain real estate.

Mr. Coe, from the committee on the judiciary, to whom was referred the Senate bill to amend chapter one hundred and six of title twenty-two of the revised statutes, reported the same back without amendment and recommended its passage, which report was accepted, and the committee discharged from the further consideration of the subject; and

The bill was referred to the committee of the whole and placed on the general order.

Mr. Coe, from the same committee, made the following report, which was accepted and the committee discharged from the further consideration of the subject, viz :

The committee on the judiciary, to whom was referred the petition of Spencer Putnam and others, minors, asking to be authorized by legislative enactment to convey certain real estate, have had the same under consideration, and respectfully beg leave to report :

That chapter seventy-eight of the revised statutes of 1846, provides that "when it shall satisfactorily appear to the court upon the petition of any guardian, that it would be for the interest of his ward that his real estate, or any part thereof, should be sold, &c., his guardians may sell the same," &c. The guardian is required to give bond for the faithful discharge of his duties, and many other guards are thrown around the minor, which the committee think are judi

cious.

The petitioners ask that all these guards should be removed, and they be left free to act in the premises as if they were of full

age.

The committee have no positive evidence that the minor heirs mentioned in the petition are any more precocious than other children