Iowa news. [volume] (Dubuque, Upper Mississippi Lead Mines, Wisconsin Territory) 1837-1841, 1837-12-09
sNEPOKT
Of MeComn,ittce appointed to Investigate the con-
ditiea of tie Banks ofMe Territory.

OF HeConnlittee appointed to lnUestgGtc the con-
ditip. of the Banks Of the Territory
The elect committee appointed under resolution
of hs House Of the 18th of November, 1887, to
enquire into the actual condition of the different
banks having charters of Incorporation in this
Territory, beg leave to mako the following REPORT:
TIE committee Immediately upon their appoint
mant, proceeded to the discharge of the duty as
signed to them by the resolution. In consequence
of anexcitemcnt existing 10 some extent in the
public mind in regard TO s'the Miners Bank of Du
Buque,p created by the propagation OF ruaors
calcuated to affect injuously the interests OF the
public and of the institution, and in consequence
of the absence of the proper officers from whom The
COMMITTEE might expect to receive the necessary
Information concerning the actual condition of the
Bank, they deemed it necessary in accordance with
the power vested in them by the resolution TO visit
said Bank in person. The committee in adopting
this course were nctuated by the additional motive
of af1ordng All opportunity to tho citizens OF the
town where the Bank is located, OF stating 10 the
committee such facts as might be IN their posses
sion concerning tho character, management and
opcintion of the institution.
The committee on the arrival, addressed inter-
irogatories in writing, directed 10 the President or
Cashier Of the Miners Bank of Du Buque, (sec
document attached to this report marked Al The
&C. ID. Dillon, Esq returned answers under oath to
khe questions of the committee, (see document
marked b. From M examination Of these it will
be seen that 100000 of capital stock has been
hctuully paid in, OF which Sal, l47 was paid IN
pecie aud the balance III notes of various banks Of
New York, Pennsylvania, Illinois, Wisconsin and
Michigan--that the actual amount OF specie now
pn hand is 42,lle-that the amount of bills in
firculationis Sll,435, of which $4,000 are paya-
lie OH demand, and S., 435 twelve mouths after
late--that the amount of individual deposltcs Is
| 13,043--that the amount of debts due tho bank
tom all persons and corporations is $57 ,32l--that
he amount Of bills of other banks in their possess
aou 10 Sl2l77--that the amount OF real estate held
ky the bank is S950-,hat 10 director 9th nsti-
6,ion is indebted to il in a sum larger than that
described by the charter---that tho payment OF
spcce for their bills has never been refused when
tbma,ded at tho counter-that tho bank commcn-
ced as discounts OH the 3ls day Of October last,
and hat those discounts have been made partly in
bills Of other banks and partly those of her own,
some of which were payable at sight, and some
twefe months after date
Tie committee were satisfied with the answers
Of III, Cashier to the questions propounded to him,
and lid not deem il within tho proper scope their
authority 10 inspect the books OF tho Bank or "a
count the money, although every facility for that
purp,se was offered to them by the Cashier. The
....,.;,ad 4, In R,,cue ah,r+ % hons
- .so arsd =. cars
VIZ" .o ~ nTar INV ,est; NOW ro
wm,.o 10y ,. ,,a,aac,;ons NJ Inc ;,s,! r..
~ .0' - ion u.hic,, ,ho coro,n;,
.loh S.a W. and f,,"' ,he l.c,s which h,y com,
Me na.o 100, ,hoy sxnress tho ran;mons :,
- .on w.. n ;,o,s, u. w n Du Ro". Il -;
pl,y" .a. @ cnnd,;on. aud they .anr.ss ,h'
opjaion also Zone Of their number dssenting) thu
thu renusi,ons of the charter have been complict
With s,,ho".h notes nave bsen issued nnyab
,ue,. ,nr,,Ss af,.r date ard nor cent chs ,c.d !;
d,anc. n, lnana made in h,l,s of ,his ch, rac,e,
hca,,.s hnwavs much The majority Of The comm,
-. NAV doh, tha nronr;ety Of inch ;ssnes Tho
sa,o, ,onL mon i'm "a so made of u.urons cb
.cs,. ~ infrrc.or. Of anv Of the nroy;.ons If tb
,ta 70, = =
The committee in Investigating tho matters sub