Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-03-01
D0psE2S5EC.
PUBLIC MEETING IN THE BOROUGH OF
NORFOLK.
From The Norfolk Heraid.)


Gil Chamber TO take into consideration the lost pro-
per method to rrpc the unounded imputaons, cacuIa'
ted to involve their connercIn charnctcr contained III
recent letter addressed the Speaker OF the House OF
Delegates, by John Brockeubrough, ESQ., President of
The Bank OF Virginia. Richmond -
On motion of Mr.. III pha, Wright South gate, Esq.
! was called to the Chair, and
On motion of Robert T.. Taylor, Rubt. Soutter, sen.
| was appointed Secretary.
The nectIug being organised, John imrnd, Esq, nj
Tered the following resolutions, which, on being sccod-
I'd and proposed To The neetiny adopted with cur-
0ul and unanimous consent:
| Whersss, JOHN Brockenbrough, Esq, President. OF
the Bank Of Frg at Richmond, in answer 10 Resp.
luton Ut the House OF Delegates, passed the lEh of
Januury in the words following to witt syoircdyxha
the President aud Directors of the Bapk Of Fisia,
aud the President and Directors Of the Farmers Bank
Of Virginia. be requested 10 furnish to this House stale
OF tue Of the actual capital since the year
leu, Of the branches OF the Bank of Virginia and The
Farmers Bank OF Firginn at Norfolk: and also stale
entut the nett profits OF those Branches during the year
1856, the ac"at capital employed by them, and that
they be requested TO state aso the precise amount OF the
contingent reserved funds Of each Of those lnstltu
tons the LIST of January l2G and whether the profits
~ the Mother Banks have not been part realised from
said fund, aud credited only to the nonlna! capital OF
said banks '-has thought proper to accompany that
statement with some explanatory remarks, ana among
Others touching the pruprty OF giving Tor the use oi
the Branch this place part OF contingent fund
oil said Bank, amounting to S]jo.'j2 sum ncar-
y equal To the original capital OF said Branch has used
the following language to wit: "Iia the Bulrd OF Dr.
recLOrs al Richmond deemed it their duty. 10 send
part uf tie contingent fund To Norfolk where 1t seemed
prouablr from the experience OF sesca! years, that 1t
would be IN greater jeopardy ana less profitable than al
| The parent bank: therefore,
EeS0ircd That. TO suffer the above inpu.ation upon
the credit Of this community, VIZ that banking Capital
Is in greater Jeopardy here than III The city ui Richmond,
cnaatIug does from The, chief officer oil the largest
uonied Institution of The State who be supposed 10
have luuntrd the Charge, not only upon the general cha
hIlIg hi
" OF each individual o., said Branch, would,
II passed by unnuced, prove Us To be worthy Of lie
Stigma; and therefore requires 10 be promptly met ana
fully rciuted, value interests, rrputaon,
our commercial! standing i'll the estimation OF our
fellow. citizens Of The United States
KeSuIccd, That the remarks of said JOHN Brocken-
br0u@h, President OF the Bunk OF Virginia at Richmond,
were in our opinion. Irrelevant" uncardur by tic
resolution Of the House, TO which hey purru!t tn be III
answer and were conceived. as are rriuctany COM
PEELED TO believe, spirit OF rivalry and opposition to
the prosperity OF this Borough.
Rssoiccd, That we view in the determination of the
President and Directors OF the Bank OF Virginia ut Rich
nond 10 keep TO their USE, The Whole OF tho con-
tnTrnt fund OF said Bank the spirit Of rivalry, IN
ducn. them to accumulate the facilities necessary TO
enlarged Commercial operations for the benefit and ag-
reimbursement OF the City OF Richmond solely; contrary
the real interests OF the Stockholders and also to the
general Interests of Agriculture Commerce and Manu-
tactures for the turlerance of which they incor
po:ated, and are bound to regard.
ReSoired, That the assertion-lhat 10 have placed any
part Of the contingent fund at the Branch here would
have placed i: in greater Jeopardy than in Richmond, and
under the lanas Of the President and Directors
there involves the inference tina: the active capital OF the
said Branch is also greater copardy, IL an assertion
without proU-and calculated IL advance the credit OF
the Merchants aud Traders OF the OF Richmond and
the sood management Of the President and Directors OF
the Bank there, the prejudice and drscreoit OF the
Merchants and Traders ut this BorOuyh and the lTesl-
dent and Directors OF the Branch here.
o,lI,, ii:,,n h-i
said john Bruck,nbrough President OF tie Bank o Viz
yna Richmond to The large suspended debt at the
Branch here, IIIIbura and inasuc at it was
we'll known lave been created during the most crll-
cal and disastrous period the history OF the nancal
concerns OF this country, Qcll aud 2U)-wns not
lined this Borough, his nlluslon would seem to
py--hut time OF general Prostitution. not only IN
lEse United States, but III EUROPE; and IN tic effects OF
Which place participated largely than the City
| OF Richmond
| Rxs0ired That the nsnuaton contained in the said
letter of John Brocenbrougi, Presiden that The
pended debt of the Branch rie had been Increased dur
ing the year 1888. upwards OF Si2,0OO-or IN other
words that much had been lost during that year, al
though apparently sustained by the statement not true
in point of fact whetlcr known TO SAID John Brocken-
broUgh President, not, are not apprIscd) but IS
old debt, created as far back as cl4 and Known, Tor
long time past 10 be desperate although not placed to
the suspended debt account, to that year the nte
| rest had been paid
Rcssirtd That in dsproof Of The statement made by
said John Brockenbrough, President OF the Bank Of
Virgiaia Richmond, that Banking Capital couid not
he used here but at greater Jeopardy, than IN The
City Of Rchnond we state, upon information derived
from The Branch of the Farmers Bank OF Virginia in
this place. that the loss of that ulcc sustained by debts
cvurac,ed since cl9 and ~ has been only S3,2S 81;
that The like information asked Tor At the branch
of the Bank OF Virginia, and although refused is known
to bc tritle-and i'll further evidence mat Bank
| ing Capital may not only be employed without Jeo-
pardy, but prottably we appeal To Tie operations OF
d., IL ted ai Snlac
and stsie upon evidence drawn from the bucks VI that
Institution, that within ~ years last past, paper has
there been discounted 10 the extent OF S5o,UOOO0 (rz
S1l 900 Of local paper anu SU,o0OuO o domestic
IIs-hut on the }Oh Sept, 1853, the amount of local
uaper discounted was Sis 900, aud OF domestic bills
S2.S OOD making the total amount of discounts at that
time 81 GAG uOU-and that since that time they have
b,uugh their affairs, during n'st disastrous PERIOD 10
4 close with loss not exceeding S2iUU on local paper
and 81 600 on domestic bills making altogether about
ST. OJU-,hc present amount OF local paper being $2,
OUU and OF domestic bills $4,000 showing reduction
since September, 1853 OF o4 UOOand the TACT That so
small loss had been sustained cannot but suppose
Was known to the said John Brockenbroug. President
of the Bank of Virginia at Richmond inasnuch as that
Bank has become part purchaser OF the debts &c. Of
that institution order TO which, iuI statement VI Tie
had been furnished To The Soid join oIoehch-
| Lrougl, President.
Resolrcd That we Sec in the spirit Of said letter OF
John lirockenbrnug President OF the Bank OF virginia
nj Richmond and Directors, IN Withholding from the
branch here that portion OF the contingent Iunn Oh sau
INK which it Justly entitled r:newed evidence OF
hostility TO the commercial prosperity Of thus community,
and necessity for increased efforts r the establish
rncnt Of Indie pendent Bank; which efforts, we trust,
will be seconded und forwarded by tit said john Grocken-
brour President, and the Directors II the Bank Of Nr-
gnia at Richmond in order that their funds at SAID
branch in this place may the speedily be- relieved
from That Jeopardy, in which, according 10 their judy
ment, they ut present stand.
On motion of Tazewell Taylor, ESQ.,,
Rcsolrcd That certified copies Of these resolutions be
forwarded TO the Senator and each the Representatives