Southern telegraph., 1838-08-15

BRANDON BANK.-We have abstained for
some time past from noticing the numerous
and untounded rumors which have been cir
cuated IN relation to this institution, The
Bank Commissioners of this State, have been
engaged for the last two weeks in examin-
ing the Banks. We have had a conversa
ton with them since they have closed their
nvestigation-which has been thorough
and minute one. Every facility was grant
ed to the Commissioners in conducting the
examination that was asked. The Directo
ry and officers of the Bank not only freely
consented that all ofthe books, &c. and ev-
cry thing connected with the Bank should
be examined, but insisted that it should be
done. The result, is, that the Commission
ers have no doubt as to the entire solyency
OF the institution. They unequivocaIly say
that the amount and character of the re-
sources of the Bank in proportion to the a.
mount OF her liabilities Justly entities the
Bank to equal credit with any in the State.
so far as theirknowledge with them extends.
They have examined into many the char
ges alledged against the Bank, and are sat
isfed that they are in the main false. The
charge against the Directory of having used
the northern funds of the Bank tothe excIu-
sion OF others, is particularly false, as the
the ,otal amount obtained by all the Direc-
tors Is but a small amount more than half OF
the value OF The cotton they have delivered
to the Bank, and for which they paid the reg
ular premium. The Commissioners are sat
isfied thatthe Directory have not received
northern funds through the means or agency
OF others they having been qualified on that
point. The liabilities of the Directors and
officers OF the Bank are secured both by
personal security and by mortgages on real
estate--to require greater security of any
one would look oppression. The amount
due from other banks is about S400, 900; all
ofwhich, except about $4,000, is due from
from banks outof the State-the amount due
by the Bank to other banks is about $780,
600, all of which, except about $50, 900 is
due to banks in this State. Showing bal
ance of Northern funds at this time in favor
of the bank of about 1894 4,000-most of
which, however, cannot be made available
Immediately, owing to the fact thatxhere are
now in suit some attachments against the
bank undetermined.
The above facts we have received from
The Commissioners who will publish "a re-
port Of their proceedings in relation to this
bank in a short time The examination of
this bank the Commissioners acknowledge
has been more rigid and close than any that
has been made in the State, owing to the
numerous charges and allegations which ru-
mor has circulated about the institution. We
hope that the report of the Commissioners
will satisfy the public ofthe solvency Of this
institution-and we hope likewise that the
public will hereafter be slow in believing
charges which are made against the banks,
as those which have been made are proved
to be false. That there are individuals
within and without this State, who take
peculiar interest in its affairs and in doing
all they can to depreciate its paper, is to US
very certain. AS to the course which some
of the other Mississippi banks have taken in
relation TO this one, we can only say that we
believe il incumbent on them and duty
they owe to the people ofthis State, to show
what their actual condition is, and whether
they are worthy of that superior credit over
others which they assume to themselves -
We shall recur TO This subject next week.
Brandon Republican.