Maumee City express. [volume] (Maumee City, Ohio) 1838-184?, 1839-06-01
MAUMEE CITY EXPRESS.
SATURDAY, JUNE l. 1889.
MAumRr Cry INSURANCE COMPANY


MAuMRE Cry INSURANCE CoMPANY.-
In Bcknels Reporter of the 18th inst, We
observe an article headed "Unauthorized
Banking" which, as we are informed was
copied from the Cleveland Herald and Ga
zstte, thought it escaped our notice in that
paper. The article is as follows:
UNAuTHoRrsED BANKING. notice by
the Maumee City Express that shaving
shop under the style of the Maumee City
Insurance Company Bank has been organ-
zed in Maumee. The Express states its
capital stock at $3.50, 600, and says its is
sues have been principally confined to busi-
ness men in that section Of country
The unfa,rness of the editor of the Herald
and Gazette, in making us the author o his
charge against an institution of which he
cannot, by any possibility be otherwise than
entirely ignorant, will be seen by the follow
ing copy of the only notice we have ever
given Of it.
MAuMRR Cry Insurance COMPANY
BANE.-This institution went into opera
ton under its charter, about four weeks
since. Its capital stock $50 thousand dol
lars the first instalment of five per cent
having been paid In at its commencement
of business. Since that time another in
stalment has been paid, and third called
for. Its issues have been principally confin-
ed to the accommodation of business men IN
this immediate section of country, and its
affairs have been conducted with degree
of prudence highly credita1le to its officers,
as well as gratifying to those who desire to
see safe and solvent banking institution
established among us. Under the present
state of public doubt and distrust, prudence
can be the only safeguard to monied in
stltution, and we are happy to leain that the
directors ofthis bank are determined not to
extend their issues, at present. beyond their
means to redeem Immediately every dollar OF
their circulation. We informed, that on
the opening of the spring busnes, arrange
ments are made to extend the accommoda-
tions of the bank, to meet the want OF the
community more fully"
We have as yet, no reason to doubt the
entire truth of the remarks we then made,
and we cannot but feel sorry that the editor
of print whose conduct has been SO gene
rally respectable as to give 1t great lnllu-
ence, should have been SO far led by a bind
zeal for his favorite financial dogmas, as not
only to attempt to discredit solvent lnstl-
tuition that is dong much good to the COM
munity, but to do it falsely making cotem-
porary print speak not only what 1t did no.
intend to say, but dianetrcally opposite to
the real interest and meaning of the ideas
pretended to be quoted.
The remarks of the Herald, although they
did not in any great measure effect the Gre
dit of the institution under consideration
at home, as is plainly evinced by the fact
that its notes pass currently in Cleveland,
may, when copied into paper of the stand
ing of Bcknells Reporter be productive of
much injury, not only to the company ltselt,
but to the people among whom it is located,
and it may be well enough in the editor of
the Herald, before he deals again in fire.
brands and arrows, to recollect, that his un-
authorised statements, though they may
gain no credit at home where his peculiar
monomania is known, may pass very cur
rent abroad, where his paper gains curren-
cy by virtue OF the place ofits publication.