Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-04-15
msnts Of the classification provisions in i act OF in
corporation.

msDts ot tho classification provisions in is act oi in
| corporation.
LIMIT OF INDEBTEDNESS.
No individual or firm is allowed TO be indebted
To my ono Bank, as drawer or acceptor. greater
amoant than 100000. n
TEN AND FIVE DOLLARS PROHIBITION
All law, which prohibit, tho issue aud circulation
Of rotes under rs, are declared IN force. and dp
pbcabie 10 notes under $40 bu, the circulation Q,
notes under $40 by all others ercspt The bank 'ehiei
issued hsm. is authorised, (g.)
MERCHANTS AND PLANTERS BANK
LNNCUBuRG.
II the Fmme,s' Bank and tho Virginia Bank TO
fuse to except the acts before mcn,iuned. and tho
Merchants and Planters Bank Of Lyucbhnrg shall
20 into operation. the law declares that II shall DO
subject 10 this act aud that OF 1887. %
NOTES.
(a) This is tho most Objectionable feature in tho
Bill, and il tho Banks accept, will do injury. Dis.
counts ON deposites are clearly prohibited by it; and
we are SURF Banks discounts may exceed its cap-
tai three times with safety. In smaller towns tins
will not be particularly felt; but Norfolk Peters
burg, Richmond and some other places, where the
deposes are large, the provision " III operate pc
cuar hardship In Richmond. in consequence Of
the government dcposltcs, exec edincly But c
ven with this provision II were better to accept tho
law than keep the whole subject n, sea. The in
ctcasc OF capital will afford partial recl. aud let the
looked to iora repeal OLA measure so lrauen with
injustice and contrary TO the established princ.
pies OF banking.
(b) This section required the Farmers Bank and
Bank Of Virginia To retain out al thclI surplus pro
tits, ,he former tho sum Of Sls5000 and tho latter
$50 600, ~ a part OF their capital authorized by
tho II is but just to Richmond tina, it has been
repealed.
(c) by the act of 1917. the State was required 10
take one n,iey OF that increase thcn in each Of
these Banks. The increase under tho present act
must be by individual subscriptions.
tD THIS branch, the Bank Of Virginia is rcluir-
ed TO establish by tho act OF 1897, with capital OF
$3.50 900.
te) THIS provision is mere cncumbrancc without
any effect whatever. list Of thu applications aud
loans has always been KEEP, in the loan book"
" This provision ~ also imperative. Individuals
may eyade II in hundred ways aud company
may borrow $3.50. 900 on its own hook aud ihcn 90
600 though each individual member Of IL. provided
good security be offered. This only shows that thu
whole matter should AT first, as it must nj last, be
left To the discretion aud wisdow of thu directory.
who arc prompted by every consideration of Interest,
and expediency to act right.
(e) This provision opens the frld TO circulation rs
WIDE as-nay wider than-we could wish. BY it, in
dviduals or companies may circulate ANY note ofany
denomination. The indefinite phraseology--'under
the denomination of ton ass,"-pcrmtling it.
restriction is only left upon the issues If the Banks
previous TO the LIST July next 10 which time Except
the Exchange Bank.) they are allowed to issue
IS no'cs-will only swap a large amour, Of THAR
S5 notes. they may thus circulate them without res
tfant
(h) The Merchants and Planters Bank was au-
ihorzed by the net Of 1897, to DO established 1T
Lynchbnrg, with capital equal to the amount Of
Tho increase which the Virginia and Farmers
Banks were required to give then branches there
Ptoc'ded those Banks refused to accept tho provis-
ions OF the said act. That increase was 1862 $780,
The same Bank is authorized if the Banks refuse
now to accept
ALBERMARLE DINNER TO MR.. RIVES.
1t will be seen from the following correspondence
that Mr.. Rivcs has accepted the invitation Of his
particular friends in Albermnrlo, TO pattaks of a
public dinner at Charlottesville the Goth Instant
p" ALpEMARLE COUNTY. April I'd, 1889.
Hos. w. c. RvEs.
Sir-We avail ourselves OF the earliest oppor-
tnny, to convey to you our warnest appreciation of
your public conduc'-to assure you that we duly APP
preclae the patriotism and ability with which you
have labourod TO promote the geat interest Of the
Republic, in the various stations your have filled
49,. LAT have observed with ~uuni PRIDE ana
pleasure, your unyiejing opposition. to measures
which we believe to be peincIous 10 the interest OF
of our county, conducted by you, in spirit of
cnlig htcned PATRIOTISM which will command the re-
spect and ensure the good viii Of virtuous and in
ielligent people.
Influenced by these considerations, and NJ n tesii-
monal OF our esteem for you, we invite you TO par
take with us, and our Republican friends, Of din
ner, to be given ut the Eagle Hotel charlottesville
on the Goth instant.
We have the honor 10 be very respectfully,
Your friends and fellow citizens
DAVID HIGGINBOTHAM,
JOHN II. CRAVEN,
THOMAS DURRETT.
GEORGE w. kINSOLVING, &c. DC