The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1841-04-28
S14,s2O,256 II
S35,OOO,OOO 90
$32,52s,6OO 90
2,471,40O 90

$32 2,52s6 600 90
To this may be added the sum of four
or five hundred thousand dollars. for that
part of the circulation amounting on the
twenty first of December, 1910, TO 1885,
900 dollars 80 cents, which is probably
lost or destroyed. ...
The committee submit also herewith,
condensed General Statements of the
condition of the Bank, on the first day of
February. 1885, on the first day of April,
1889, and on the first day yof March, ls4l;
with comparative Table of Assets and
Liabilities, for these three periods, and also
General Statement of April l, ls4l.-
| (Appendlx B. C. D. E. and F.)
The general statement of the condition
of the Bank February l, 1886, is copy
of that submitted to the stockholders con-
vened at the Bank, upon the nineteenth
day of that month, for the purpose Of
considering the propriety of:accepting the
charter, then recently granted by the le-
gislature of Pennsylvania. By that state
ment, showing the condition of the lnstl-
tuition, after period of active business
extending over twenty years, and includ-
ing more than one period of serious COM
mercial difficulty, there appeared to the
credit of
Discount exchange and interest, $423s75 Is
Profit and loss, 3765,399 81
Contingent fund, exceeding the loss
es chargaebe thereto, by the sum Of l,436,56l 65
Foreign exchange account, S47,87l O3
Fund for extinguishing cost of Bank
ing Houses, -. l,1O4,2 Os
Contingent interest, 4O,s54 IA
ss,ols,7s4 90
These sums after deductng the q.
mount of deficiencies and ex.
pcnses, 2l7,1s4 %
Formed the surplus funds of the Inst. .'s
tuition .. s7,so1 $50 SO
from which, it will be recollected, it was
strongly urged upon the stockholders as
the main argument in favor of accepting
the charter then offered, that, after max
ing the most liberal allowance for proba
bic losses on the suspended debt and real
estate, the entire Bonus could be paid,
without in the least degree impairing the
capital. 10
The origin of the course of policy,
which has conducted to the present situa-
ton of the affairs of the Institution, dates
however beyond the period ofth re-char-
ter by the State. When it was perceiv-
ed that the charter of the late Bank of the
United States, would not be renewed or
extended by Congress. the President and
Directors commenced winding up its con-
Germs, and among the first measures taken
to that end, was to sell or dispose Of, so
far and as speedily as could be effected,
the assets of its several branches. This
was generally done to the State Banks,
who gave for them their obligations, pay
able by instalments at distant periods. At
the same time the policy was adopted of
converting the active debt into loans upon
the security of stocks, by which Perrna-
nent investments might be provided for
the capital of the Bank during the long
period of its anticipated liquidation. On
the 9th Of March, 1885, "the President
submitted to the Board, a general view OF
the situation of the Bank, its means and
liabilities, its circula ton and deposits, and
the probable future demands upon it.
showing its ample resources and power Of
expansion: whereupon" the committee of
Exchange, which was composed of three