Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1816-01-20

and TO the character of this borough, and highly
injurious TO the reputation of the commerciaI
part OF this Community: viz. That YOU shall
transmit TO them, "mon,hly statements of the ac-
counts Of your customers, with those of their in.
jdorsers," the said directors at Richmond, at the
same time, r:fitsipg to furnish gou .siM similar
statements ofthe accounts otrihcir oebarimsnf. A
lregustion 20 unjust, misth be evidently intended,
TO degrade yon, and through YOU the charsc ler Of
TINS borough and can be required oniy for tra.
sate and tocai purposes for it cannot even bear
theapology, that the rendering such accounts,
onh on one side can be for the benefit of the stock.
holders; as in that view, you must have the same
reasons, and motives for knowing the state of the
acco.ats of individuals, residing i'm the CITY of
Richmond, as they can have for knowing those
OF the citizens OF Norfolk. Besides, the regula-
ton itself is contrary TO the spirit and letter of
the law creating the bank, which prohibits the
Legislature itself, from inspecting private &C
counts, and is perfectly nHgato1y so far az /, f
tectS 10 be an order otrae siocihoi!ers for tne
Charter prohibits any bye law, to be created con-
trary to the fundamental articles ofthe act of in
corporation. which no where admits of ercl,tsi,e
Ip'futedses or of one department OF the SAID bank
assuming exclusive rights over another depart
ment. Your Memoralists, therefore not oniy
consider themselves nsui,ed, and degraded, by
this regulation; but they also consider blended
with 1t, the character and reputation Of this
borough; and as you are the present guardians
OF TINS department ofthe said institution, the,
consider you bound to MAINTAIN, as they bel ev
you will, its character and independence for Us
no exclusive privileges are authorised by the
charter constituting the bank, nor any permit, ed
10 exist in this state; they consider the stat ii
fectors as particularly bound TO put down this u
lsurpailon, set up on the pretence of beneftinp
the stockholders, not o. .vlion in this borough
believes that IN its present shape, 1t is, can be,
I Or mat purpose on'the contrary, they consider
IL as an act OF msuiierable yass.lage and hostil-
~ toward thecommercial character ofthis place.
lNour Memorialists therefore solicit. that YOUR
board do exercise the au' hor.ty vested IN IL BY
the Charter, and which no bye-law can impugn
10y passing Resolution forbidding he trlismrs-
SION OF individuals accounts at YOUR department
n'ess similar statements to those are first received
from Rlchmond;' which will at once put down
this attempt, made 10 degrade YOU, and which
WIZ nave that effect, If you submit to it; on the
lother hand, your resistance will procure you the
thanks and gratitude of your Memorialists, and
the cordial support Of the stocIsioLders efths place
This proposition appears to the people here,
unhswerable, If the measure is intended Tor the
benefit ofthe stockholders as it is the universal
oehei the merchants of this place, that there IS
a larger amount or discounted paper due to the
banks in Richmond, than is due 10 all the other
which Circumstance, they are informed, that the
annual statements presented to the stakeholder
ana 10 the Legislature, e made up in the apgre.
gate, instead OF exhibiting distinct account O
the business OF each of tlS departments-Enqui-
ries ON these subjects have been made of The di
rectors here, whom they found as ignofant Of
these matters as the other stockholders. This
SUBJECT no doubt, will engage the attention oil
the Legislature, on the investigation of their %
titions.
/ The number ofsharss originally allotted bv the
charter 10 this borough were A166, abou1 5000 OF
whch, have already projected against this m ca
sure and although IL IS sal ed, tat we were out
voted at The late meeting convened at Richmond
"a copy OF the poll, We ind, cannot be procured)
yet that circumstance, If even So we trust VII.
nave no weight with your board, nasmuch as the
rue itSclI' from "eihg PdrFGL IS perfectly nnga-
I'oIy BESIDES, the cOnveners OF that nee ing he.
siding at distance from Richmond, were lyno.
rant OF The names and places OF residence of tie
lco-proprietors and they believe that no such list
nave ever been FURNISHED to your department. ;
While on the other hand the citizens and direct.
ors OF Richmond were in possession Of that IN
formation and beng smelly IN eresi ed in maintan,-
ing Their authority We are informed great exer.
lions were made 20 procure proxies; and as our
grievances could only DC acutely felt nv the com.
Inerciai part Of our co-partners, the result IS no
TO be wondered at, particularly as we are inform
ed, that such persons only, who were hostile 10
I ne meeting; even Richmond Bank Direc tors
Who alone have an interest an conttIun g he gre.
nee complained of, were appointed tne Judge
and inspectors OF the PROXIES and ~ one ms ance
at the meeting at the Bank of Virginia, am ole
proxy, originaily for two shares, was discovered
| 90 have beeu altered BY the sad Judge 70 TO.
shares, that beng the number OF shares the pei
son who formerly gave IT. then owned.
! OD learning these circumS aIces from our ~,
Pfesel.tatye at the sad meeting, we instantly m.
sTucted hnm TO apply for a copy of the boil whe-
20 our astonl4hment we received for an wer. tn.
he same had been destroyed" Notwithstanding
Of ali Their proceedings shall be kept IN a book ,i
that purpose, To be at all times subject TO the m
spectlon or the stockholders, cor 10 the Lcgisla
| lures or committee thereof"
Your memoralists therefore most respectfuli,
request, that you will eso ce the prayer OF the,
memorial, the justice OF which they have heard
NJ man deny; but should hey, from any cause, b.
q agPpomIed of rehei from your board, they VIII
& ca reluctance, Will benecessitsted to resort q
the aid ofthe Legislature; who they are well COZ j..
vmced will never tolerate, under any pretence
lTiyleged orders of meu III lilis state 20 the de.
gradauan Ut your memOr aists, and 20 the gre.i
| jury OF The bank for a number VI your towns
men WI. no irade with you II you permit ii
accounts to become the talk and sport of those
who al, er such nspec ion, have no control nor au
thorlty owes them: Aud your meInorialists as &
| d,ny bound, &c. &c
| TINS memorial has since been laid before theIt
| : ols'ure, together with similar one, Complain
lug OF greater expressions exercised by tse d.