Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1828-12-11

cupd'ty tor money, is, by employing the aiivanis-
ees acquired by their education to appropriate 10
themselves more than their Just share of the large
| contributions annually made hy the Government:
! and in this way. they. with some few honorable
| exc ptions render, not only themselves. bu, the
very arts they have acquired obnox;ous to the ma :
| ticn a. large.
| II, however, il should lie deemed most expedi-
en' to continue TO expend portion of the 81 900
fund on the Indians remaining within the States
the mis- ionares and teachers should be loo sted
the tracts prorOsrd 10 he sci arart 10, the common
use OF each tribe; from whence the information
they supply and the art they teach might he ad
| vantageousy applied by the adjoining Indians tc
the Improvement OF their separate property; and
where they might also take charge of those In.
a,ans VINO may. by improvidence, have expended
| their private estates.
II Is. in my opinion, worse than useless TO inn
part education and the arts To the Indians, without
furnishing them, at tho time with appropriate
subjects on which to employ them.
| have the honor to be, with erea, respect your
obedent servant, u. B. PORTER.
| lSome OF the Documents which accompanied
this Report will he hereafter published
State Banks of North Carolina.
Some interesting changes have been recently
made in the administration and views Of this insti-
tuition. The stockholders convened on the lst
inst. The first step was the resignation of Mr..
Boylan,t the President; who threw up bis Office, part
own a'tcntion and partly because the peculiarsitu
ton OF the Bank required the attention of some gen
tleman OF distinguished legal talents to direct its
concerns.
MIR. p. Browne, after some compliments upon
the manner in which MIR BoyIan had conducted
the Bank, agreed with him tina, its critical situa
ton called for eminent legal talents in il, Presi-
dent. He stated that himself and some other
Stockholders with whom he had consulted who
had for some time thou ght on this subject. had
IN al nj, Oh 4
learning that Judge Ru6fn intended to resign his
seat on the bench Of the Superior Courts, il oc
Cured to them, that he would, in every respect.
be well qualified to sustain the Office He was
therefore applied to, and had agreed to accep, of
the situation and attend to all the suits and law
business Of the institution. for $4,000 a year He
further stated. that il was understood Judge Rnf-
I'M would attend to business of others, as well az
that nj the Bank. in all the Courts held in this
county, lin which the Bank would generally have
suits) hut would go to no other Courts, except
the interests of the Bank required his ATTENDANCE, -
The question being taken on increasing the sa-
larry OF the President of the Bank to So, 500, it
was unanimously carried.
The meeting then proceeded to the election oC
Directors of the Principal Bank for the ensuing
Year. when the following gentlemen having re-
ceived large majority Of the votes present, were
declared duly elected, viz:
Princina' Bank.-Thomas Ruflin, VIM. Boy
Ian, William Polk, Duncan Cameron, William
Peace, Theophiius Hunter. John Bell, r. d. Ben.
nehan, Peter Browne. Alfred Jone-. Joseph Gales
II NJ Miller. VIM. Hill, VIM. McPheeters, J.
SomerveH, George E. Badger, %. A. Barham, Da-
vid Clarke, Chas G.. Spaight.
On The same evening these new Directors as
se~ibled; when, Mr.. Buyian's motion, Thomas
Rrtiin, Esq. was unanimously elected President,
The Stockholders had an adjourned meeting on
the Sd; when they received the Report of their
Committee appointed on the Ist: The Committee
.'hnds that the nett profits, accruing to the Bank
have diminished much, that those of the last
nan year barely sufficed for dividend of two and
hail per cent without making any reservation TO
meet bad debts or other casualties. And as the
charter expires in six years, il would in the opip
ION OF your committee, be hazardous and unwise
TO endeavour TO increase those profits by increas
ing the ioans.-That dividend, therefore, instead
OF being increased, must probably he diminish d.
SO mat there appears to he no prospect whatever
that the Stockholders, can ever hereafter obtain
legal interest Tor their money"
The Committee also report that if early and Of
hr'ent measures are taken to call in the debts and
wind up the concerns OF the Bank thew confident
" hope that il will be able TO cover ali losses and
pay every debt for which it is liable and return to
t' Stockholders all their capital entire They
therefore concluded with the following ResoIu
tons:
L. That when this meeting adjourn il shall sd-
journ to meet here on the first Monday in June
next.
2 That at such adjourned meeting the question.
"nether'he Bank shall then proceed TO wind up
Its affairs as eXpeditiousiy as due repard 10 lie
own interest and the situation of its debtors will
permit shall then be discussed and decided.
.. nat committee he now appointed, whose
duty II snail he TO prepare and lay before said adj
Journed meeting full and detailed account of the
situation and affairs OF The whole Institution.
Ihese Resolutions were adopted; and commit
tee oil i've, consisting Of Judge Rutin Gen. Ca
mcron. Col. Polk, MIR. Browne and Mr. Boylan.
accordingly appointed