The Alexandria herald. [volume] (Alexandria [Va.]) 1811-1826, 1817-05-07


Franklin Bank Of Alexandria. The presi-
dent ana directors OF the Bank of Poto-
mac, are persuaded that the interest of
the Institution over which they preside,
and the community, requires that thew
should not be Instrumental in rivine
credit to the paper of bank in the
town OF Alexandria, at time when they
possess no satisfactory knowledge of the
persons who compose its din :tion, or
oil tho situation OF the bank.
JAMES KEITH, JUN. P esident
At meeting Of the president and di.
rectors of the Farmers Bank of Alex.
andria, in bank, on the oh of April,
1917.
Upon'a communication from The pre-.
sideBt at the Franklin Bank Of Alexan-
dila, being submitted, requesting 10 be
informed whether it be the intention of
tins institution 10 receive the notes of
tbat--it was.
ReSo!Oed ununimoasiy, That this
bank will not, for the present. receive
the paper ofthe Franklin Bank OF Alex
andria."
This resolution is copy from the
records.
RICH'D NJ. SCOTT, President
Alechonics' Bank IF .zlerandria,
dhTR ID, 1917.
Dear Sir-Our president pro lem.
has suggested to ME the proprieiy Of
sending you copy Of a letter have adj
dressed TO the cashier of the bank OF
Alexandria and, which, 10 you, will be
an answer to your communication
have the honor to be, dear sir, your very
obt. serv't,
WM. PATTON: Jun.
I'm. 7AOs. SwGnn, Esq.
Mechanics Bank Of .llerzndria,
AnrH "a, 1917
Dear Sir have the pleasure OF
sending you herewith copy of an or.
der passed by this board at meeting
on special business yesterday.
A communication from the Franklin
Bank OF Alexandria, through their presi.
dent, being under considerations was
Rescued That this bank will not, for
the present, receive The paper of the
Franklin Bank of Alexandria, I am,
very respectfully, dear sir, your obi
servant,
VIM. PATTON, Jun. Cashier
y. l.. NJ Kenna, Esq.
Union Bank, alexandria, Ali mo.
~, 1877.
At meeting OF the President and
Directors of the Union Bank of Alex
hndris, ~ bank, this day--it was
Resolued, That he cashier continue
70 decline receiving the paper OF the
Franklin Bank Of Alexandria. By or
| der of the board,
JOHN JANNEY, President.
Bank cf .dlerandyia .dhrR 81, 1917.
2'Othe President of the Franklin Bank
IF dterandria.
Sr-fOuT communication of the 3lst
0ltimo, addressed to me with view to
ascertain the course this bank might
intend to adopt in relation to the Frank
lin Bank, stated to be in operation,
has been submitted TO the board of di-
'ectors. Alter maiurely celebrating
upon the nature of the claim OF the
Franklin Bank to a participation in the
| benefits arising from the perfect amity
ana Intercourse which prevail among
the banks o! this city, the result of a
common interest and well grounded con.
| idence, am instructed TO reply to you,
that the Bank OF Alexandra is con
strained by reasons as imperious as they
arc obvious, TO decline opening an &C
count with, or receiving the notes of
the institution you represent
This bank, ever influenced by de
sire to promote the public welfare, and
no enemy 10 jas. competition, has but
in one instance, been compelled by a
sense of public duty, to tleviatc from its
usual practice Of admitting 10 an equa-
lily such institutions as have been es,a.
bIlshed here Consequently to IL; but 90
apply no harsher epnhet) the indiscreet
zeal for multiplying banking compa-
Mes leading To issues OF paper cur
reDcy without ca Stal for its basis--wilh
little prudence Tor It's regulation-and
With every temptation 10 It's abuse, I'm.
happily IujstuaIng ourselVes--a moral
obligation vas supposed on every good
citizen to resist an alarming evil, preg.
nant With consequences as dsieterious
10 the morals, o. Il has proved perIici-
Gus 10 the fortunes Of individuals. But
/, IS due TO you, sir, explicitly to assign
The motives why the directors OF this
Institution, are aVerse from an inter
course with yours.
As far as their Information extends,
/ ind A. : bpiipv we'd that in the Luo,yIadc,x