Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1819-08-17


erroneous Impressions may lac drawn
from such a Publication, Editors are
respectfully solicited 10 say that II solely
alludes tn the FarMers' Bank OF Virginia,
at Richmond, and hGt IL has aot Tie most
distant dUuSiOn to Tie Farmers EGnk az
Winchester. In justice To tie honorable
and secure manner tina, the affairs OF tins
bank have been transacted, we deem this
explanation absolutely necessary, and
therefore trust, that il may be republished
in those papers that inserted The para
graph
Ave learn from the Winchester papers.
that n.eeiiu: OF the Stockholders OF the Far
mers' bank, residing in the town aud heiglbor-
hood was To take place on Saturday last, TO re-
form &" ahuses which there is reason TO believe
exist in the administration OF the Affairs OF this
inStitntiOn
FARMERS BANK OF VIRGINIA.
Al mee,ing of sundry Stockholders oi
the Farmers Bank of Virginia, assembled
OH Saturday the Dist July, al the Court
- House IN Winchester, ill pursuance of Il
uo,ice published in the new spApers OF lie
place, for the purpose of consulting upon
the proprlety oi adopting measures caicu-
laled to secure the future Interests OF the
Slockholder. In SAID Institution, Henry ".
isaker Esq. VAS called 10 the Guar, and
.John Hopisas, Jr. appointed Secretary.
The meeting being organized, II was,
on moiion, R,Soiced, THAT the number OF
81 ID, khoidrrs pteStut III person, or by
proxy and the amount oi stock owned by
Ihem he ascertaiued, and their names
inserted in the minutes of tine meeting,
@hereup0n u was ascerialned there weie
thus preseAi thirty Stockholders, possess
lIg in the aggregate seven hundred and
Slxty-six SharPs-io wit:
II,ta t.E IN 81. Inn |,
liam Miller 81. Johu Miller 5J. Jacob Sewers
90. Lewis hoii 81, Robert Cray 33, john Irwin
Is, Godfrey Miller 80, Robert BALDWIN -,
James Little ~, Samuel Windle's Executors
20, John Iinn's Heirs 10, john Hoh i5, Ellie
Eeall ~, Elizabeth ilOover 10, Sarah Burk 10,
II. G.. Dunbar I'D, Samuel itea 10, William W
Ter 10, Robert Il a,er,cN 10 Peter j.auck. TruS-
tee OF The g. l.. &. Z, John and Abraham Mill
}er7, ANA Wmdle >, Geo. Reed Admir-. of W.
J.. Campbcii .. James Reilly ., Frederick
hUitz D, John Hopkins juInor 4.
Ii was moved and sPcouded that d
committee of tive gentlemen be appoint
ed 10 consult upon The adoption of such
measures as Ia their opinion would most
essentially cOnlribn'e To effect i.e object
% thts meeiinS, and report the result of
their deliberations :-AlesSrs. Powell,
lielskeil, Gamble, Cray aud DR.. Miller
were accordingly appointed, whn after "A
shott refinement, reported The following
preamble and resolutions, rhich beiu2
seyerally rra,t, il was resolved by the
meeting that ihniy thousand dollars, the
sum IN The second resolution nlruiiou-
e a, tie highest sua, IN the discretion
OF the Directors OF the Bank, proper 10 be
loaned 10 ANY individual or cnpArtnership,
be stricken out, aBd ti0eaty THOUSAND dol
lars be inserted Instead thereof; the saiu
preamble aud resolutions, thus amend
ed, were unanimously adOuiea
PREAMBLE &c.
"Nh ereas there is reason 10 believe, from
the various accounts which have reached the
ears at those constituting in,s meeting, aud
which III measure have been cOrOboratsd Ds
The subsequent tact OF ~ INABILITY OF the DE-
itctors oi the Farmers Bank Ia declare dyi-
dend to The stockholders thereof, IA tact which
Instead OrbeinS HilIunicIted to the stOckh0Id
Crs nv the board al Richmond ina, cai form
accompanied WIN some explanation OF tic rea-
sons Opetdting TO prevent the declaration Of a
dividend, was derived from an W0fIci.E para
graph III The paper called the Richmond Eu-
qutrer, WHICH contains utiinatOn thar
tHe d'rhieadS must necessarily be reduced 'riih
ihe cnriHtReHt Of their flhe oanr. business
ana must also be qyccted By The ioSscs, either uc-
that or unprecedented, from tie failure Of its cas.
t0S'PTS tor These might some cases BE- 50 great
as not to permit dny dirideHGS 'rithUu elicroaciiPy
upon the cdpitai stock of the IL aht"-an in,Imh-
ion IN itseli calculated TO excite alarm and 10
gave the greater piau>tbity 10 the reports III
thCutdtiOil, tBit inc SHI0 corporation has
tdihtn losses 10 very considerable amount.
by the failure offs debtors. Attributable il j.
reared, 10 HE practice ofm king loans Ia in
uiViGua'SOl large and lmpIudeHt amount : "A
pTacUce which, II persisted ~ VIII have a ten
Nencv 10 JeOpardize The vital interest of the
members OF this corporal tOn, and 10 tlPSttty
IN greater medSnre the utility of backing
Institutions as tending TO engeudera system
oi monopoly and tavouritiSn, instead OF iiiiu-
sing the benefits which bank, under proper
restrictions, " Oulu IDipaTt IL tie cOmmn,lit in
seherai: Aud whereas II appears Ia dis
meeting, that one Of the primary objects IN
'"e management OF banks, should be Tia inict-
'st OF those whose capital aud fn,ls arr tuyps-
TEA ia them, upon the dividends of which there
are many widows, orphans. cSr Tc!vHhe soipIy
Tor lhrir support: And where's from the
niuiiirEcity OF ei1cerS employed ip the Parent
1'dhh ana some OF It's branches aud the extra
Nasant Sdlafies allowed TO uiany of them IL
,"ouia appear as II tie bank had been estaD-
iiNied 10 provide lucrative cinCeS Tor IA 'ey
lnhiHluhdis, whose unrCasOnab.e slidtirs Al
neu ny other circumstances ALREADY referred
10, ahs0rU no SMALL portion uf the croft
"hich, OF right, should be paid 10 the siOcnhoLi-
cgs.
lie II therefore ReSGiCed, That com
ihittee of spOndcncp, CONSISTING of
Ten persons, br appointed 10 draft an al
theSs to the Stockholders Of the Farmers
bahh, ~ relation 10 their general interests
III SAID institution, and that Tie sand
COMMITTEE De specially instructed u urge.
ii co-operaliOm OF the Stockholders at HE
general mceilHg To be hrid IN Richmond
Ia January ncNI, Ia obtaining.
Isl. reduction OF lhr salaries Of fIe
presidents OF lhe mother bank and Tie
branches thereof.
2nd. The passing Of a bylaw 10 restrain
tie Directors oflhe bank and lis BRANCHES
III iheamOHnl their loans Ia individuals.
so HAT loan TO any lmIlvidnai or conayl
nershlp, siIall not, in aay caSe, exceed
oG,hOO dSliars.
heSofrsd, FRAT said committee De lur-
tier lnsirurlrd ~ nr.e tn. rnrn..it,- ~