Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1821-07-10

= ID.
establishment ofan adequate fund to coyeran
losses which may be sustained on the banking
houses, which have been or may be erected
or purchased
Al the appropriations thus recommended
be now made, the account of profit and loss to
the lst instant will stand as follows:
Balance TO the credit of profit
and loss according to the ac-
count herewith reported, S4,1c7,186 So
Dividends to be retained on
37,51S shares capital stock of
the bank pledged and transfer
red to the president, directors,
& co. at Il per cent. 56,s69 SO
S4,168,455 IS
Extnguishment of the pre-
MUM on the two millions six
per cent. loan, 100000
Extinguishment of the bal
ance of the commission on the
loan obtained by the bank in
Europe 10000
Extnguishment of this sum
OF the expenses of commission
ers, &c. over and above tie Sc
ni-annual allowance now made
26,974 10
Specific fund for the extin-
gmshment of losses, 3,55O,O0O
Dividend of II per ccntum
On $4,000 shares $4,000 4.I51 .g74 45
Balance TO be carried to the
credit of profit and loss S5,481 as
8. The committee are OF opinion that the
sum Of s 3;55O,000 thus appropriated for the
extnSulshmcnt of losses should be put to the
credit of an account to be denominated Sc con-
tinSent fund.-" and be thus distinctly set apart
from the current profits and losses of the
bank; and that it should be declared to be APP
propriated inviolably, together wi IN all excess
over the par v;1ue which may be received on
the stock pledged and transferred to the bank
as before stated; and all interest due and to
grow due on the suspended debts at the Offices
OF Louisville, Lexington and Chillicothe, and
the late office of Cincinnati, and particularly
that 1t be declared that no part of these funds
shall be, ON any account or under any cir
cumstances, diverted to any other object than
the extinguishment of the losses which the
bank has sustained, without the appreciation
OF the stockholders at "A regular meeting to be
called Tor the purpose, or at the triennial
meeting required by the charter.
A. The committee are of opinion that there
should hereafter be semi-annual appropria-
ton for the eXtinguishment of the bonus, of
s $4,000, To extngush the premium on the
four millions jper cent. loan, and TO provide
a fund to meet any losses which NAV be sus-
| tanned on the banking house built and pur-
chased by tue bank, or which it may hereafter
build or purchase.
! The sums to be provided are as follows. viz.
The bonus (origin;l amounts 100000 90
| The cost of banking ncus-
es at Philadelphia, Baltimore,
Washington, Richmond, Nor q
folk, Fayetteville, Charleston,
Savamnab, New Orleans and
Louisville; which are all that
the bank has hitherto erected
or purchased, is S775,Gl7 63
twill require about $4,000
TO finish the banking house at
Philadelphia, except the south
portico, which IT is not intended
to finish, and it is believed if so
much be added TO the foregoing
sums as will make an aggregate
of900,000 dollars, it will cover
all the buildings, which the bank
will in future probably build or
purchase; say therefore 100000 OC
Premium paid on TIE four
millions per cent. loan 9O5,38O OC
S,Go5,88 OF
Tie bank has heretofore APP
propriated semi-annually, com.
mencihg in July 1917, the sum
OFFS $4,000, which if continued
to the end of the charter will
/ yield sf.6GJ .00
Tito this be added semi-an-
nual appropriation of s 5000,
and it be continued to the end
fthe charter, It will yield 10000
s2,O85, 90