Edwardsville spectator. [volume] (Edwardsville, Ill.) 1819-1826, 1822-11-30
RANK OF THE UNITED STATES.

BANK OF THE UNITED STATES.
7rienniat Meeting Of The Sock
holders Of HE Bank Of The United
STAIRS, held by adjournment al their
hail in The city Of Phitadelfhia, on
Tuesday, tie lSt Of October, 1922,
TmoMAs ELLIcoTr, Esq. in the chair ;
and
WILLIAM MEREDITH, Secretary,
The following report OF the Commit
tee Of Inspection and Investigation, APP
pointed agreeably to the Resolution OF
the Stockholders, at the meeting held on
the Cd OF September, 1922, having been
adopted, il was Resoived, That the
Report, with its appendix, be published
in the public papers; and that The Ere
sident and Directors of the Bank OF the
United States, do also cause the same 10
be published in pamphlet form, and that
a copy thereof he held at the disposal oil
each stockholder."
Your COMMITTEE, TO whom was referred
an examination Of the condition OF the
Bank,
REPoRT:
That they have carefully considered
and diligently investig gated, the SUBJECT
confded to them. But, before submit
ting any opinion or statement in detail,
as to its actual situation, they beg leave
to refer to the luminous exposition Oh the
President, hereto appended, containing
fund Of information, in relation TO the in
stiiution, in connection with various to-
pics OF sound speculation and practical
utility, which cannot fail to prove highly
interesting 10 the stoc kholders and to the
public; while, at the same time, they IL
lustrate the consolmg truth, Ihat the
most appalling difficulties may be sur
mounted by the steady application OF in-
dustry, integrity and talent.
In compliance with the provisions OF
the 18Th article Of the llh section Vi the
charter, your committee have ascertain
cd that the suspended debts at the Bank
and its various Branches, are:
Upon personal, and other than
stock securities 80 4Ol,@ ~
And upon loans, secured by
pledges Of stock 4,0l1,V55 10
.
Together amounting to S1J4l8,3oo %
Your committee are decidedly of OPT
MON that the loss to the Bank upon this
debt, together with overdrai's, counter
felt checks, and rom all other sources,
cannot exceed 5,74S, e99 dollars--a loss
arising partly from the peculiar situation
of the moneyed relations OF the country,
but principally from splaced conf
dence in unworthy agents. Bat, your
committee feel graiied in saying, that
fund more than sufficient has been de-
rived from the previous profits OF the
Bank, and specifically pledged and set
apart to meet this loss; BESIDES which,
it possesses surplus OF 81 ,425 dollars
al cents, arising from balance which
stood to the credit Of the profit and loss
account on the Ist of July last, and from
interest which has actually accrued, but
which has hot yet been paid, upon thai
portion Of the suspended debts, which IT |
is confidently believed will be ultimately
obtained.
The preceding facts, with the follow
ing analysis. your committee eelassured
will reader the conviction irresistible,
that the Bank OF the United States has
now arrived at that point when It's Capt.
tai may be declared to be sound and en-
tire, while it possesses contingent inte-
rests OF nearly one million of dollars, to
be applied to such objects as the future
f T.. Il II