Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1821-02-01
BANK OF THE UNITED SiAiEs


BANK OF THE UNITED STATES
Al mretisg of the President aud Direc-
.ois OF tie Bank OF the Unitea States, held
."'s a"y tue following report was adopted
aug ordered TO be published, viz.
Inc Committee OH the Stale of the Bank
10 whom was referred the enquiry, whether.
on tue FIRST day OF January ls2l, the losses
OF the B"nk had been Restored aud the ca, ,itai
Made whole,
REPORT,
That they have diligently examined the
Hoc"'hehfs IN possession OF the Bank with
we" 10 ascertain tie exact 81 tualInu of The
INSTITUTION, and now present as "a part OF
t"is report, statement OF the losses which
have occurred in the vaIi ,us Departments o
the ins'itatiop, up 70 the fist day OF JAuua.
~ lust.
This statement is founded on returns re-
cel'au from The of1ces made al the desire of
TINS boaia, aut uuder the Inspection of IN.
ohctrs and committees of the various boa I'd,
who were sp+ ciaiIy iusiructed to rrpuit ON
he Character OF tue deb 8 due TO the offices
over WHICH ,bpy presided.
lnsse reports he from all bu, the five
western ohces, asd are dated IN June and
:cemS0r 1870, aud contain a specialization of
Gil debis due al each office under the title OF
good, doubtful" or " b. d."
The losses in the western Offices of Pits.
n"rg. Cniihcofhe, Cincinnati, Licking ton and
LouissNle, aie taken on the report of MIR
wilson, cashier, made OH the Is ih of Decem.
Der iast 10 Tins baard on his re.arn from, AN
Inspection inio tie dIAi' Of those of3ices on the
accuracy OF which report YOUR COMMITTEES
place great Confidence
I'm tins documentary evidence, Your Com
mittee report the losses of the Bdmk and its
various departments, on the first day of Jan
ha,y. teZi, 10 he S3,522 l76 10
And to make good that losa Tue ioluwrr
iteIns are 10 be relied on:
Ihe balance of profit and loss, as
atated by the last dividend com.
10 of fbaf
account on the DO oks OF the Bank,
Contingent int due from
certain banks" as credited in the
bank statement, G55Si6i
90 Damages OIL bills Of Exchange"
as credited in the Bank statement. 26o75 81
Amount of Interest due on good
nut suspended Debts due at TIE
Ftnk aud tile Offices, according TO
ihe estimate made b. the Cdshler
aud Assistant Cashier, I20,323 81
Nnd thls sinoTnt of the arrear of
Interest due on loans On Stock of
ihe Bank, Which may rs Considered
as secured ty The excess which the
stock would brins above its par
value, soy on 42,0s0 Share at 4 duiis
amounting 10 I6s 200 90
forming total of S37ijo7i 81
and bemg an excess beyond the as
certaIned loss of Dollars, 223 SIS 10
To the preceding estimate OF means 10
cover the losses of the Bank the Commits.
Lave omitted TO introduce The earnings of the
offices for the month OF December, as Vs. ell "a
. considerable aFrear OF interest on dsbts
deemed doubtful, but winch hereafter may
yield considerable sum.
These facts, therefore, in the opiYion of The
committee, slt~ ,bat the past losses of the
Bank have been repaired, aud That the CAPT
tai was re- ssta tlished and made whole on The
first day Of Jaauafy inst. and the committee
tr.fft hat Ia all Ill.
10 tie Stockholders OIL The part of the Board
TO declare tbis opiBiOH, III order that The state
of The Institution ,nAy not remain IA subject
OF painful doubt, among those who are now
interested, OF o; deception aud misr rpreseu-
tation as Il regards those vino may desIfe 10
AscUme interested. In order however 10
give full information. aud not TO excite too
naIs uine expectations VI the lutdre profits OF
the Institution; it Is fit TO remark, that these
will necessarily be lesseDed for some time by
the present agndnt state of co,nmerce
which prevents the Bank tr1m employing its
large capital adsaItageousIy, aud by The fact
that the interest on considerable sums which
are dne 10 tie Bank, though deemed SECURE
is MOI cuireuuy paid, aud therefore cauiIot
be considered profit on whcl uiyids nds may
be declared Under these Impressions and
circumstances, tie COfaaliitee rsconirn- nd The
f0IiO@iu- resolves -
Resoiccd That in the opinion of the Board.
the losses of The bank previously sustained
were repaired, aHd that tho Cdpns, Stock
was re established, aud made whole on tue
frat day Of January, 1921.
ResOlUed That, iD ictUIe aud uutii the fur
thrr otdeI ~ the BOais, tbs Book will loan
ana That OHiCeS be astHOiiged TO Ioau AT the
discre fi0u and convenience OF she respect
i've B0ards, OF pledge OF he CayitsI Stock.
10 The amount of tie par yaur thereof, bmi in
no case, AVID shder no preteBce 81 Additions
al secnfny Connected with such pledge, above
uat rate.
L CHEyES, President.
5Hest THOMAS WILsGN, CdSticr.
New YORK Jau. zG.-We uuderatsnd thai
large sales 0i u. ). Bank Stock were made
yesterday at iO7
4 He WEATHER
Yesterday mOruHg. the thermometers on
the North Nvef side of ihe town w. Inc most
exposed Situations. stood ais s1dD degrees
below zcIO. a half pasl 10 Tie mlrning,a
thefinDinster in trout OF house on tie west
stic OF Front ST near Fl,mafkei, which VAS
exposed 10 The SunslIIr. stUod az and at
Il o'ciSck al 2 degrees below zero ln Use
afternoon The vivid snbsidfd and there was
sone a5 iieineni OF The c0id last eSeAIDg. Tie
Vast 'ivsr remained open Yesterday, so thai
tue steam boat crossed 10 Brooklyn. Bui ihe
NORM RIVER WAS cumpleteiy rnzeu over in
the MORNING, and 'he Hiaii was brou ,hi across
ugon The ice, wliicn remained nnniovajle by
tue tide, aad u tho afternoon hsG BECOME 50