Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1817-11-21
VALLEY BANK.

VALLEY BANK.
WINCHESTER, Nov. l6.--Hhr b1nks
for the capital stock ofthis institution clo-
sed or Wednesday evening last and Il is
with no little pride and satlsta, ton Ne
announce, that, notwithstanding II was
perhaps tie most nnpropiiious period
that aii attempt To establish Bank could
have heen made, the amount taken here
~ S25G, 0D0. Not only has the whole cap
ilal 5000, 900 been taken, but from unof-
fcisl information received, there will he
an excess fperlIaps $4,000, which will
render IL necessary for the operation Of
sealing dorm to be performed upon some
Oitle largest Stockholders. The coun-
lies of Loudoum and Iauguier have enii-
tied themselves to Il Branch, having taxi
en- stockto The amount of upwards of
SiO0, 000-but, III Justice 10 the former,we
are bound 10 declare, that with the ex-
ception of few, se,y .ttto, shares, the
tck0ie amount has been taken AT that
place. The counties OF Jefferson and
Berkeley have also exceeded the amount
which entities them toa Branch /; and
lastly, tho not least, Hampshire and Har-
dy lave eminentiy entitled themselves 10
a similar boon. Ii must be admitted, all
things considered, such as fhe stagna-
ton OF business for a considerable time
past, The pressure produced by the wind
ing up of the business OF eight uncharter-
Ell institutions, all within the section of
country designated for the opening ofihe
Books of the Bank of the Valley, besides
the important consideration that the pro-
duce of the late season has not yet been
got 10 market; and, we might add, the
hard and ungeneroIis terms imposed by
the Legislature in granting the charter -
we say, all these things considered, that
the amount of stock taken OH this oeca-
sion has developed the resources of our
country more than volumes sV,itfen upon
The subject could have done. If the Le-
SlSidillre, at the next session, will, rs ii is
wished, extend the capital 10 million Of
dollars, there Is not 4 doubt that by the
ist March, when the Bank will be put in
operation, the remaining S4oo, 600 will
lIa,e hreu taken.
Unreasonable and unprecedented az
ibe terms are, Oh which tile charter of
tins INSTITUTION was granted, and which
we nave reason To believe were made SO
IN orGer To defeat the object, ii is evident
thai the Bank will, froan ilat very cause,
go lnto operation under greater advanta-
geS than any similar Institution of the
same capital has done for MANY wears
past ~ VIII WIFI Il SOiiu 6pc-
cIs capital Of to9r h@,dyed thousand dollars,
which must be paid in, and the fact sol
eRnly sworn 10 by the Cashier before the
company dare emit one dollar That
this Bank, under the direction of prudent
and Iudicious men, Will therefore be a
mong the most substantial aud respecta-
BILE, IN proportion Ia lis capital, in the u
nited States, must he evident 10 every re-
tiecting mind: and that will be of meal
culabie advantage towards promoting the
prosperity of this important section of
the state, must he equally evident tits
'IOsed, This result uilI prove tn some OF
our Eastern Brethren, that this section Of
Virginia occupies more respectable sta
ton III the scale OF importance, than they
have hitherto been wiling to admit, anu
that it will have the effect la secure to il Il
little more OF their attention 10 It's inter-
ests, i'll their future deliberations, than il
has heretofore done.
Since writing The above, we have re-
ceIved the following returns, official and
otherwise, of the subscriptions for The
Stock of :" The Back of the Valley" at
the different places al which books were