Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1824-03-09
REPORT.

On The Star Of me Bank If pireipia, Me Fumers'
Bank q puginla and thar branches.
The joint committees apponied by The Senate and
House Oi Delegates enquire inio lhe nf The
Bank of Vmgin'a, the Farmers Bank Of Virginia,
| aud ,hcir branches, and TO whom were eomm,ited
the documents communicated 10y the e~-cutive, ie-
atWe the Bank OF the Valley Of The north wrsiera
Bank Of Virginia an, their branches, have, accord
ing TO order, performed The duty assigned them.
The coumiiiee fimd the state of the Farmers
Bank OF Virginia, The first day of January, eighteen
Debts outstanding, 50, 83I .a46 To
Specie, 299, sos II
Foreign notes, so l82 II
Bank stock, lOJ IRl 81
Real estate, 22I923 l6
Stock, 1900 GOO 00
Notes in circulation, 9OI ,iIG 81
The prods II the Farmers Bank aud lis branches
for The year 1928, have been S98,339 30.
a small faction less than ) per cent, Of which 4
per cent. has been paid 10 The stockholders.
By ing the current resources OF the Far
mris' Bank, on the lsi ol Janna,y, 1924, with those
of the last year, will lac found that the items oi
banks, have INCREASED S37, 5g3 81 whilo hc amount
Of drbis due by is,r bank via Notes ia circulation
and deposit money, ded"ctng from the litter, 'he
contingent funds ~ both yrArs, have diminished
81 1872 80, making nn Improvement in that respect
| since ihe last year, OF S69, l36 IS.
or the other items, it cas- hc seen iy compai snn,
that the deposit money on The first day ui January,
1928 was S663,7I2 02 and the first day of Jan-
ua,y, 1924, S128. $50 80, making an increase nj
s 64,782 q
The notes in circulation or the let January 1873
were 975 $50 81
On the Is, J ,nuary, 1921, g0I f16 Ga
Being y dimiuuii0u of N,l13 80
Wbile the specie amounts 10 nearly as much on
the first day Of January, 1923.
The bank has increased s purchases Of stock
made in pursuance Of The authority given by The
charter.
Lns, wear, stock ownedby the bank, was stated al
SGg 297 90.
This year AZ Si05,i8l 80.
The institutions now holds Of it's own stock 1900
shares, the aforesaid price of SlO5,OOO, hut those
shares can hereafter meet the payment the bank must
necessarily make Of the capital, 10 the amount ol
$4,000 90.
The contingent fund made up Of the surplus Of
this aud preceding years sInce that policy adopt
ed and 10 cover losses which have hereafter may
he sustained, amounts To sol 800 co.
The amount OF nieaus, which will be applicable 10
meeting losses, from t,use two sources, 80 thu
year 1929, Si3l ,iCO 90.
Increase Of means duing the year 1928, 973, 400.
The sun Of SIS ,339 80 has been added this yrar
10 Ibe sinking und, the same being deducted from
tie prnfiis.
The purchase Of the stock Of this Bank when for
sale ~ the market, would iend much 10 The benefit oi
The institution while is cfeaiing fund To redeem
lis cspifai IL will for the have tie effect ofpte-
venting tie depression Of the stuck, which has been
kept down by certain adventurous circumstances.
But rs Ire institution has nearly goHe 10 the limits
prescribed ny lis charter, u will require an exen-
sion nf ie right To enable IL ~ do more ~ that
THE stock has bren depressed very considerably, he
low what Is was nrinsicaly WORTH according 10 the
opioions nf tose who hest knew the situation Of The
institution The annexed document marked A. OK
hilns ~ one view The dividends of The said insttu-
lion since rate per cent amOuni OF di-
y,lenis paid To- fhe STATE amount Of dividends APP
proprisird 10 tie LODus amount TcceNed by she
stock holders
Tie committee also find The stale of the Bank oil
Virginia on the Ist day of Jaaony Of the present
wear 10 I've ~ follows
Rals discounted, $500 1913 ~
Debts oa bond, l10il1 81
Specie, b56 321 81
Foreign notes, 1901 Ga
Due from foreign banks 1871 81
% 4 d.