The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1837-06-09
EIe,,. d ..,e.. o,tr I.AbII-lle.

Excess Of asscis over liabilities si5l $50 -
By thls expose 4, alIl be perceived tina, the
bank is IN possession Of fund. 10 the amount Of
more than sl.i2i,000 to pay their deb, OF sGT3,
l2-, nearly tWo dollars OF means for unc 81 Debt.
10 satisfy u. Of The investment Of thus fund Of n
yer one minn Of dollars the bank officers politely
gave %. ib, amount q, each bal, the name Of the
crswsr cndorscrs aud sceoptiuns. the amount Of
each discount note It's drawer and securities, and
take pleasure 10 avoNlng cor belief that TO
Back OF Institution IN thn country can exhibit q
similar snoant Of debt 10 safer hsnes bcittr se-
cured. Among the shole Of its erehsngc and
dscogn, paper uc found lees than $4,000, on
Which the pfobstiuy II loss prcponderatsd over
lha, Of safety. and even on tins amount the loss
cannot - total. The bank has nos. II is true. a
considrtsble amount Of permanent deb, which &C
fs;ok may ne enlarged before the next business
season. 20 one hCndred. one hundred and fry
thousand dollars. By petmsuon, eet, wc mesa
that uhteh is mol immediately avaisblc, bot wh,eh
). secured By paper due from siI to eighteen
E3onhs bseer Bet this u foS the most part, sell
secured ard will ~e thlnk. ultimately be paid
IT.. capts spck Of The bank having been paid
in b. the slock holdsrs II follows thence, that the
~hois q the above excess sijl .296 must be ost
OF .quaudrfed by the Bank before ITS bill holders
Of de ,,osilafs can su,iet loss, And Beyond this,
lScy p1s-ess silll further security OF S-,sl.0ud.
consisting IN the individual liability Of lbe stock.
hoidsrs under the charter 10 an amount double
the quantity Of their stock. This gives 10 the
public cumulative fund Of sl.9l2,l2j whlcb
stands pledged 'or The payment Ut the Bank debt
n 1913, - And apart from this, the oonmuni-
y has. IN oar opinion an equally valuable guAfan.
tee 70 Tire wisdom aud prudence which bss hihef.
TO marked he conduct Of It's Affairs. With pow
er stycu ~ The charter Of extending ITS 20
s,,2l0.010. three times the amount Of the capital
stock, It sill bc seen haI II has nos IN circulation
bot sbout s5-l, 900 less than half that sun, and
This amount DAT, diminishing, 80 that the late &c
solution 81 tie board adhered To, not 10 extend
Il. issnts bcvond their present amount 4 follows,
that the public can have less security than II
nov has = iihout wllfal fraud on the pati of the
Directors, shch Is mol TO be presumed OF suspect.
sd-sh,ch security. amounts in OUT opinion 10
moral ccttsiniy OF safety.
The following IS The concluding par, of the re.
port From thIs 1t srPsAn that tie Committee
are disinteres,sd individuals, who can certainly
have desire TO deceive the public.
In conclusion We would remark that neither Of
Us, 10 Stockholdsr IN the Bank. nor have we
any other interest IA It's fate than that which wc
possess IL common slth every member OF n,
community. that an institution which We believe
on personal examination. 10 be sound TO is very
crntfe-sn institution which has hitherto extend
ed such generous and important facilities 10 the
country 81 largc-shAll no, suffer in the public
confidence and crcdt, by measure which has
been taken, not of It's own mere motion, but which
has been forced upon il BY causes beyond its own
control, and 10 which it bears company with eve
~ similar institution IN the country.
w. II. ROBBINS,
JOHN ELLERBE,
&, b. PEGuES,
WIN, JOHNSON,
THO. SMITH.