Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1829-06-12
Tbe Uo,lstttutte,sal eeIbtg.
wEnSt:s DAH,s 3oRNINf:,s JUNE 10, 1879.

.
~ ~,
up'> . s,e sn'.s ieSoilie'"eu.
Inc DiesctofS seem 70 pave neipea themselves to
psctty SUN of nnoney--on!y 1925 oOO their account
hiyint bacn ,oenc.ailv. oboas q mn mn, n I,bsJ,
fa,..,.s. a. M 20 =, ~ :,
N ~ one o' % eio s't'aief banks o. that
common weaith, we eIthe Directors borrowed
the whole amount authorised 10 be iss,,es, - .s
~ 7t,;,,,,, rs p,,;, t,s,.s - y,
~, - ~ sra orIs IA NfS. ~ .la 49,
'rle Csm,n.tee 10 ,vho,, ,y,s raf,rr,d nc, pso,,.
! sion aaont.a br Tin, neetirr IF th StnctboiIers
=. i,.d i,, l,st ~, "A sl az. !, .N " ~ :
fb,,s ,., =, n, -.
.s.r,c,rsng8 bapf nertarncd lha 5,,s .s,rsJ ~
tl,,.,r,. an bee, .a US r., H - "
49, " f,ysf,f,,r,.a y - q
That. since tho t,er 81 this RAM, ,s esn;se
~, tas tirt tia,v sf lint n
,erv small prudence nn;l "a
tserv one that som o,ht he aJn
Ted Tor collecting the debts 10 this
and closioss eoncefns within TN, period Of t loon.
existence salt is l.sra propostio, of tho. frpfb o
which, il ia presumed none ca, lott that mon the
xniruton OF the Charter the Coynoration allow, be
ccases for all and FIAT 8 s,,;ts
orseyen a iasiprnef,t sobtnined dnrn th, Cba r,e-
either nv or aoanst Is couH nor he fin ha,
ted enforced s. Yonr ,,mrn;t ~ a., have, m rca
ton ascertuinps that 81 aht ~. ls,,n
NOW cxstirir f te,, me-, ceot ,oT ,b
no,,p, of IL a reduced from time To tSn. he roii
,reouiye,iI a, raid i,ro
= p,o,,i1 rco,,;re six wears nd !, bft rl, 49,
same TO 500: which woud he IN. ve,r md bsif
Levond tl,. limit of The Ami tb.v .ro
ther of opons that even that ,,eriod 10 eorer than
IS vo,ld he l., ntacte,, no daIt cnnI ho -
lectod because prfec. nm il MOI, 70 ha
ted IT Is ohyio,s alst, tbat in, c,,sr re -
business ms that of this ank az 60
places yiriunce and energy via b, neces
srv.s ~, thar in The. ,oin;o, ot vo,,r ~ 90 t,
the existing officers mid seryars could he discbor
red and The exncses Of condus.tin the the
Bank NAV he rather exnected to tho
pyofits by reason of curtailine the business done
rn,ist certainly diminish unit! the latter x not. pfo
baby def Nv the former Sc, - ~ =. q
your Eoinisitie e are fillIv aware flint - u In.
many.instan boar very ha r.. ,,tou .bt tn yoct
positively, and Mt all y,erios San of ID,
cent nnd it is believed bv some Of she Committee,
that many of the debtors could moi ce,nn,,y ,,,b ~
Teo,,isiton But ION the hand ,he
cuanot be expected TO arrv ora ,.;
he entirely abIe mach ss y which far
want of the legal continuance of tile Cornoration q
arue part of the ap;tal Stock win ho lbs.
,Fhis latter ey; u,iuht 5a remedial nv n IF
the Charter But it is believed nv vo,,r
that neither woali the beosla srront yyo,ld
the body of Stockholders accent renewal beea,rsa
rorr foanrnittct, Is eel satisfied thar root
excess If Bankinr CANAL IN 81 Crnna ,abcb
tnakes,it Mike unproitable to the Stoekholasr and
,a,urntls to the Commurity and, from te chartered
prganjzationof this Bank itis in constant dancer of
gross tnismana cement s. " 50 n. u
Your Committee. Under these circumstances, have
aBxiousiy turned their ention tthe various nss
by which yo,ir business may be closed with the car
nest desire to discover and recommend one BY which
itcan be effected, with little loss TO the owners,
and with much euity TO the debtors, as possible
Many methods have been suggested to their consid-
Grafton; of which none perhaps are exempt from SCI
rious objections. II has however in the course OF
the consultations Of your Committee been suggested
by the Gentleme,, who represent the State III this
meeting, and are serving on this Committee that the
danger of loss from the expiration of the Charter Is
not much &c be unprecedented, because they entertain
IHsdnubt bat the General Assembly would continue
hyslaw the corporate powers, beyond their present
limit, for the purpose of collecting debts owing pro
scouting suits pending at the expiration of the Char
ter,and doing MI other proper and necessary 10
the closing of the concern. To such a measure
those Gentlemen suppose that the Legislature world
be inpelled by the interest of thc,State as Stock
holder mt Bank, ana by pro7ident dispesitianto
prevent tie necessity under which the Stockholders
tof,ld other wise Ire of nrovjdin for tbeir ,,,