The enquirer. [volume] (Richmond, Va.) 1804-1815, 1814-01-18
PHILIP NoRBo2NE NICHOLAS,
Rn. LINDSAY.
ROBT. BIRCHETT.
The foregoing is true copy from the original
ROBERT STANARD,

Chairman
After this successful accommodation of the inter-
ess OF those two institutions in relation to the sub
jees OF the memorial referred this committee, the
committee acting on behalf of the Farmers Bank
OF virginia begged leave TO withdraw the propu-
sails first submitted to the consideration OF Your
mittee, and to offer in lieu thereof, the follow
ins;-
The committee on the part of the Bank of Vir-
gina, having consented to alter the terms =: first
proposed, for the extension of their charter, as
that sitter the expiration of their present charter
that Bank will only ask halt OF the deposits the
tate. And havirg also nted to rebew tie loan
OF the SoS50.ooo which win be due in March sext,
~ an interest ct per. cent. per snuum.
The committee acting in behalf OF the Farmers
Bank of Vrginis, request permission vary the
proposition submitted by them, and to ask of the
Legislature only addition to their present char
ter OF an article which win give to that Bank
hall of the deposits OF the state, from and after the
is of May, 1915 at which time the present chsrter
of the Bank of Virginia will expire.
Which being granted. the Farmers Bank of Vir-
ginia, is ready to lend tie state sum sums of
money not exceeding four hundred thousand COL
lars, on stock, TO be transferable in the to
be prescribed by law, issued under the authority ct
the state, to bear interest of seven per centum
per annum, payable half-yearly. The stat. to be
under no obligation TO redeem the said stock before
the list May. 1897 but to have the privilege oil
deeming II, from time to time, within that period,
IN whole or in part, at its pleasure, giving three
months previous notice thereof, in some newspaper
printed III the city OF Richmond.
BENZ HATCHER,
WIN &. WILLIAMS,
JOHN q. GAMBLE.
Committee of the Farmers bank of Va
Your committee, entertaining serious doubts OF
the propriety OF attempting, so short time, as
the views OF the Legislature, in relation TO another
SUBJECT, would allow 10 enlarge the capitals of hot
banks, TO on amount in the aggregate OF one mil
non i've hundred thousand dollars and OF anticl-
pating, at early period OF the existence of the
charter Of the Farmers Bank of Virginia, renew.
al OF that charter TOR additional of fifteen
ears, and percei'ing that the end which the Cen
era Assembly had in view, in eitecUag loan to the
amount oil $50, 900 dollars could be equally attained
by acc pting the last proposals of the Bank of Vir-
mia, did not hesitate readily TO eonsede to the com
mittee, acting on behalf OF the Farmers Bank Of
Virginia, permission to withdraw the frat proposals
OF that Bank, and to accept those which last
s nitted.
la closing this report, your committee carnot for
bear consratuating the House of Delegates on the
dement, which will result 10 the commonwealth from
reduction OF the interest on the new loan proposed
to be created from and one h II per cant paw
able quarterly early on the whole nt thereof to
seven per centum. payable semi annually, ON 900
liars thereof, and seven per centum, parable quar-
ter-anhusfy on $4,000 dollars thereof making,
your committee believe, clear aunua saving to the
commonwealth, on the whole loan, of about ! IT'S
dollars, rs cents viz the part of it effected with
the Farmers Bank of Virginia, 2,423 dollars rs
cents; aud OH the residue obtained of the Bank OF
Virginia about 1850 dollars; affordipg total amount
as above OF AIS dollars, rs cents.
Be it therefore, resolved, as the opinion of your
committee, that the terms, submitted to the House
OF Delegates, by the last proposition of the Farmers
Bank of Virginia, are reasonable.
The said resolution being twice read, was, on the
question put tbereupOn, agreed to by the House.
Ordered that bill be brought in, conformably
Herewith and tha. the said committee do prenare
and bring in the same.