Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1837-03-27
DOMESTIC sNTELLIGENGE.
TlIE RANk ELL.

TIE BANK BILL.
The bill passed. the House Of Delegates on SAT
urday b, 4 soc oi - to -. A. tie public hive II
ken deep interest IA the question, sc lay bcfor'
! them the iolioHiHg outlines of the bill, Tor nhich
We are indebted To the Compiler
The hIll provides for an Independent Bank Nor
iok With 4 capital at million elaht hundred thou
sand dollars, 10 be- subject to the restrictions of the
/ hi ior tn general regulations OF Banking. The
! biah 10 he called the Exchange Bank oi Virginia.
/ Tic Fink - NorUI, 10 establish three Branches
QUE AT Richmond, with capital of 500 o06--one
At Petersburg "ith capital Of 0t0Jb, aud n
Ciafkssllle, with capital of -4UO,0O0. Tier /.
provision IN the clause establishing these branches.
which prohibits the mother Bank at Norfolk from,
Withdrawing nom either OF the Branches any
part OF ther capital, AID it also requires that
tie President aud Dircc tors shall, immediate
~ after declaring each semi.annual dividend,
restore 10 the Branches any surplus profits Which
my have accrued To be retained 10 meet any losses
ailca they may have sustained.
The Is nA OF Irgluli to It's capital stock
SsoO,o0D-=GJU,00 OF Which is new stock. and
the Bank TO convert 100000 OF its surplus
profits INTO stuck.-Ihe whole 10 be divided - FOL
lows Branch At LyHcbhurg $50 ,00o--at Chales-
ton 500 ,0oO-at Fredericksburg S5O,00O--anl at
Dan,illc 80 O0O---An Office Of Discount and De
posiie 10 BE- created At Portsmouth, viii, capital Of
$50, goo.
The Farmers Bank Of Virginia to iicrea { ia cap
iial Sl,Ul000O %s25,OU0 OF which is new stocN,
into stocH I he increase to be divided as isloas :.
the Mother Ban, to retain $4,000, tho Branch 1t
Petersburg Is To haze S32 OC0-at Lynchbnre.
s2le,500-at fredericksburg, Sll2 j0U--at Nn-
chester 500, 500 and at DdinlIle $50. O00-oiice5
oil Discount and Drposilc arc to be created At
Farm, he with capital OF S90O,OOO--a Scottsrillc
or thailo tcsvIlc, the stoc huldcrs may elect,
with ca r,tal OF $50 O00-and one at Abingdon or
EYanshan rs lhq 2toci holder may oi't', all!, a
! capital OF 10000.
The Bun" Of the Valley. to increase It's capital
stock - 10 000, the State take one molcy OF tie
stoch, tn other 10 be- disposed OF b, the Bank
Inc Increase To be divided as follows The Mother
Eanb 10 retain $3.50 OOO-olicc at Lecsburg $50 900
| Iii tharlcstown, $50 900 at Romncy, S95,0oD-
Offices 10 Dt cfcatcd--a Sttunton, with capital oil
5000 600, at Wrreuton, FauqucI, with a capital o
el53 900.
The North W cstcrn Bank OF Nir mi, at Wheel
ing 10 increase its capital stock $500, 0oothc state
| 10 TAXI one mocty and the bank to dispose Of thu
other The increase to be divided as follows Tho
Bank at Wheeling to retain SGlj OOO-and til,
Branch at Wcsburg to have $50. 900. \ brancl
/, to be established at ParNcrsburg, IN the county o
Wood with capital OF $1,000
The Merchants and Mechanics Bank OF Wheel
ny To increase is capital 800 CUO.-rhr State I,
Take hall TIA" stock and the bank to d,I OF the
ther-I'he Bank TO retain 5000 OOO--tnd the oifc
n Moreautown to have SO 600
The Banks are required TO divide illcir surplu
fund among th,r several offices. by equal install
ncnts propoluOned to the losses incurred Al the prn
epal Bank and each office, that the entire dlsli
button shall be completed on or before the lst Jun,
| lslD.
/ The bin relieves the present Banks from tllc r.,
friction OF the general Bank Bin relative : o not,
TIL the lst day Of October ls3s
Ii either OF The present Banks al this place rolis
10 accept the increase under the terms pruposed
: PROV ION Is made Tor the increase So refused To b
, gwen 10 the l'anA accepting. Aud itCic TWO Banl,
| h,a,,. Al .t..