Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1841-04-27
s.a. From the Philadelphia Inquirer.
THE BANK OF THE u. STATES
The Meeting of Stockholders and Re-
port Ofthe Committee. ---

The Meeting OF Stockholders and Re
port O fine Committee.
An adjourned meeting of the Stockhol
ders Of the Bank Of the U. States took
place at the Banking House yesterday
The affair produced considerable excite
ment in our monetary circles, and thus
before 10 o'clock the room assigned for
the meeting vas quite crowded, and many
stockholders were still engaged in obtain
ing pass tickets of admission. Samuel
Breck, Esq. presided, and Messrs. Joseph
r. Chandler, Charles Gilpin, and Joseph
Gratz, acted as Secretaries. The meet
ing was opened by Captain Stockton, who
made some able remarks in elucidation
of the history Ofthe Institution and the
difficulties which had reduced her TO her
present unenvable condition. He was
proceeding somewhat in detail, when the
meeting manifested impatience for the
long g-talked of and anxiously expected
Report. Many, however, we're disposed
TO hear Capt. S. throughout, and thus, be-
tween the cries of "hear"-and the de-
mand for the reading Of the Report, no
little confusion ensued. For few mo-
ments, iedeed the scene was one of much
disorder, and it required all the tact and
energy OF the Speaker to reduce the ex-
cited elements into condition Of propr-
ETY. and repOse.
1t was then ascertained that the Board
of Directors had submitted Report, and
that the Committee appointed by the
Stockholders had also Report in redi-
ness. The question was taken, when it
was decided that the former should not
be read and that the latter should. The
great desire, it would seem, was to get
at the Stockholders statement especially
as all sorts of rumors had been in crcula-
ton in regard to its alleged disclosures.
This document was finally read by Mr..
Chandler. The Report commenced by
stating that every facility had been afor-
ded to the Committee by the officers OF
the Bank, in furnishing and explaining
bookS-and also by the Board Of Direc-
tors. The Committee then proceeded
to verify the assets, &C., of the statement
OfDecember 81, lS40, and they had found
itcorrect. They had considered the
amount, emitting the bonus for charter
and one or two other items, which were
named to the meeting. They found il
difficult and embarrassing to state prOba
BILE losses on stOcks-and also 10 report
on the value of mortgages. Passing ovel
the mass of details of active and suspeded
debt, the Committee stated that but {
small proportion were regular mercantile
transactions; and the Report stated tina
under this head, 4S individuals and firms
owed upwards of $4,000 each; Is up
wards Of $4,000 each; and 8 upwards o
100000 each. In another part, it wa'
said that SO individuals had loans Of more
than $4,000 each; and that 4 others haC
loans amounting to $560,OOO The TO
tails Of the amount of 2lst of Decembe
were then named-and as we understood
left result of $l4,S20OOO to represen
SS5, 100000 Of capital. -.. ...'.
The elative states Of the Bank were
then given, for the Yeas ls36-Se-ant
Al. On loans of $t2,OOO,OOO raised il
. Europe, there was loss of more thar
$l,O0O,0OO produced mainly by the dis
advantageous circumstances under whicI
those loans were raised. MIR. Jaudon re
ceived $1,000 year as Cashier, and whel
he was appointed Agent 10 England, th'
Bank allowed him $4,000 for loss on tn
sale ofhis furniture in this city, and NOR
than $1,000, for the expenses Of himsel
and family in going to London. $4,000
was named in one place as having bee
paid to Barings. $1,000 year had bee
paid TO. Mr.. Jaudon's brother for his Sc
vices. The sums for foreign agents e.
,pensss up to lS4l, we understood to hav
been $l7s,O44 Z; and not TO enter int
details, We also understood that the who
sum for foreign Agency and loan expei
s ses in Europe, from the appointment !
To- Mr.. Jaudon in England TO the same da
was $685., ,975., The Bank had borrowe
more money in Europe than it had Of a
tive debt in America. In one yea
tl6S7-the iOans had increased more thG
S7,O00,O0O--while the discounts had d
creased about $4,000, 900.