The Massachusetts spy, and Worcester County advertiser. [volume] ([Worcester, Mass.]) 1825-1831, 1826-08-23
FALL RIVER RANK


The following plain and lucid exposition Of
,acls' 10 RELATION 10 the conduct of the Suffolk
DahK OF Boston, towards the Bank at Fall
n''ei, WI be read with interest, an interest
not unmlngled with surprise for even tho af
TAR at Worcester Can hardly have nren.red
the public mind for the DEVELOPMENT of On
systematic course of narrow, pititul contriv
ahce-PerseVered in with such untirinp ronoor
tn'"ush so wanton and unblushiug a disregard
oictate OF comfy, or consideration Of
decent cVillty-as the statement before us
eXhioits on the part of the Suffolk Bank.
AT meeting OF the Directors of the Fau
4't"e' na"S' held Aug. Ia, 1926, the commit
zee, WA" were directed - prepare a statement
cn ,@c's' ,elaliVe to the proceedings of the Suf-
ioik Bank, made the following
REPORT:
nat the Fall River Bank commenced bust
ness in July, 1925, some time after the Allied
8snAs IN Boston had adopted the system which
ehey are now pursuing towards the country
Banks. '
In August, the same year, a communication
was received by the Cashier Of this Bank from
the cashier Of the Suffolk Bank, of which the
following is copy.
a., S%gOM Bank, Boston, .4ug. "a, 1925.
80 "ie resident and Directors of the Fall
River Bauk-
Gentiemen-Ihis Bank has made an ar
t"heemeht WIN most of the Banks in this
+7'stS' -Fo"' hanpshre, Vermont, and Maine.
~ reeve from them all the current money of
tc"Lns."ho ana the city OF Newly ork at
t"' "h'en ehey may receive at their several
RANKING houses, in REDEMPTION for their oun
bills, ny their depositing with this Rank tho
sum OF three thousand dollars free of interas, :.
the oiiis OF your Bank to be redeemed once
week. or oitener, if they amount to three
DeneFihS 'hls arrangement to be much for
The interest OF your institution, the Suffolk
nahN wish Tor your cooperation in this
measure. '''
am gentlemen, your obedeRt servant.
(olsned) M. s. PARKER, Cashier.
winch the following reply was made bv
the IashIer OF the Fall River Bank.
=, fatt Rtrer Bank, Aug. 30, 1895.
NJ. 5. PARKER, Esq. Cashier.
Lear olr-Your communication. of tba odth
Inst, 10 Inc PRESIDENT and Directors Of this
DanK, was duly received, and has been laid no.
lore them. After due deliberation thereon !
am instructed to say, that, as the business Of
this place is principally confined TO Providence
ana the south, but small portion of our NOR
ey Will go to Boston, and but small nronor-
uon 10 mat OF almost any other Bank in Mas
sacnusetts or Maine; and, having but inst
commenced business, have but small amount
- eucu,atlon' They cannot therefore, at
T Tt' 'n'hK OF acceding 10 your proposition.
my uo' however, feel disposed to Cooperate
10 all measures which tend to tho ;utoroat =,
the institution, and which NAV he enuau,,
Soeaehclal to others, and do therefore nTonos.
70 redeem our bills in Boston every WOOL, =,
apar, with Boston funds and other bills Of Tho
5xcin"y OF Boston. This proposition, we he.
heVe, VIII save much trouble TO Won as well
as ourselves. Ycg will please to take il int
@0ns:ueratIo9, and advise the result thereof.
<r. Respectfully yours,
loigned) M, G. DURFEE, Cashier.
VI this reply no notice was taken. In DC
toner another attempt was made by the Fal
river BANK to enter into an arrangement
tMougn the New-England Bank, to redeem
tneir bills in Boston. BY request. the Cashie
Of the New-England Bank notified the Cashie
OF the Suffolk Bank, that he was ready. ON be
half Of the Fall River Bank, to redeem tbe;
phis. 10 which reply was made by the Snc
IoiK Bank, that ''they cannot give them ur
unless the Fall River Bank will make spec
lal, permanent deposit of $3.000',* To thi
ne directors of the Fall River Bank did mo-
~innk proper to accede. =
rps were taken towards a
EQUATION until the spring of the present wear
when the President ofthe Fall River Bank ho
ing at Providence, the following Circular. is
sued ny the Merchants Bank, wasAanded /,
num- with proposition to include the Fal
N'ver Bank with that of Rhode-Island:
HsrchGnts' Bank, Providence, March 15 1905
SRA proposition having been made /,
TINS Bank by the Suffolk Bank of Boston, III,
' "
The President of the Suffolk Bank, in hi
statement under date Of July 81, has the follow
ing remark =" In the process OF restoring
wnolesome circulation, work in which we hsv
iabored for the last two years il became essenIia
that all bills should be received here at par Th
ol,'s SO received have been sent home Tor specie
S except IN the cases where the issuing Banks pre-
eUer been required for this tyizplege. In Al
cases where this Bank has received Il deposi
from country Banks, it has been as consiiera
bills nj narO 49, N''-NN 'O'N'6