South Branch intelligencer. [volume] (Romney, Va. [W. Va.]) 1830-1896, 1834-12-27
6,OO5,3t5 II

And that the surplus funds
ofthe bank provided to
cover itslosses, are
Contingent fund to cover
losses 5,sol ,s55 II
Fund for extinguishlng
the cost of banking
houses e76,oi9 SO
Unappropriated balance
of profit & loss account 3,I66,6 $40 II
Total amount of surplus
fund 1904 GAG II
Deduct estimate oflosses 6,005,3l5 II
Excess in favor ofthe B. $4,000 $50 40
After making this very satisfactory
statement of the affairs of the Bank,
adverting to the manner in which its
credit had been assailed, and by the
Government, too, {the largest partner
in the Bank, the committee say tina,
it is in the highest degree questionable
whether any other institution could
have wthstood such systematic as.
sault, much less have prospered under
it. The result of which, as eyinced by
the above statement, only shews (the
committee say) how deep-rooted was
the public confidence in the solvency
of the institution, and how high the o.
pinion entertained of the ability with
which its affairs have been admins
tered.
The Report next proceeds to take
up, and treat at large, each oflhe other
particular points on which the conduct
of the Bank has at any time, or from
and respectable quarter, been implicit.
ed-giving ample testimony on each
case, to sustain the conclusions at
which the committee had arrived
These points were too numerous to be
stated in detail from memory, but we
may enumerate as the most paramount,
the following
The case of the protested French
bill of exchange, in which the course
adopted by the Bank TO bring the ques.
ton before judicial tribunal, for fair
and legal decision, is approved and
sustained by the committee, as well as
the just right of the Bank to damages
on the bill in question.
The allegation against the Bank of
having multiplied ats Branches for the
purpose Of influencing public sen,i.
ment Shelving from authentic docu-
ments, that the Bank had established
Branches Only where the business of
the community had justified ii: that in
many of these cases, the influence Of
the highest public characters had been
| disregarded for years where the crea-
ton Of Branches lad been urged--es-
pecially in the case of Nashviile-and
| thirty or forty cases, we should think,
in various States, are particuralized, in
which the establishment of Branches
has been refused to the present day,
though pressed by great numbers Of
the most respectable citizens, because
the business of those places did not
warrant them aud, from the facts ex.
hibited, the Report expresses the opin-
ion that, so far from establishing
Branches where they were not needed
by the commerce of The community, if
the Bank had yielded to the urgent So
lici'ations from every quarter, it would
have established them od iafnitam.
The charge of lending money to
Members Of Congress, and other pub
lie men, for political purposes, which
it shows to be unsustaned by any evil
dence, and wholly futile.
Loans to Editors, in which it gives
a mass of details, shelving the ground.
lessness of much of the slang ofthe day
on that subject.
There are many other points Of a
minor character, occupying large
space in the report, on most OF which
| the conduct of tina Bank is shewn to