Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1842-09-23

stIruIlOn:
fraaktH Bank of Cincinnati, july %.
To The Honorable the Senate and The
House Of Representatives Of the
State Of Ohio.
The undersigned. in bahalf Of the
Stock holders Of the Franklin Bank Of
CINCINNATI, beg leave TO represent to
your Honorable body, that the charter
oil said Bank will expire on the first day
Of January next.
Believing that the retention Of so
much capital, "a Of the stock being held
abroad) IN the city oil Cincinnati, will be
Of lmJorlaDce to its c~iiIzeos and to those
Of the State oil Ohio general y, we ask
OF your Hon. body that The charter Of
the Back be renewed LOT the space Of
twenty years
II II should not comport with the
views Of your Hon body to continue The
privileges OF the Institution tor this
period, we respectfully ask that the cor
p0rate powers be extended for 3 or D
years, 10 enable the Direction to DIVIDE
periodically It's capital among tie stock
holders, and to close up lis affairs with
80 little Inconvenience 10 the business
community as possible.
Sigaed by tie Directors.
The following IL an extract from the
letter enclosing the above memorial:
'Cincinaati August %, lS42.
"ln compliance with your request !
send you q copy Of our memorial 10 the
legislature al The extra session, from
which you will Sse that we had no ref
erence II the General Banking Law 10
asking the renewal Of our charter
Our stockholders, so far as we know
their views, would under no cIfcumstan
css accept a renewal under Latham's bill.
They would rather determine 10 go in
10 liquidation, BY assignment Of The con
Germ
| called upon the President Of the
Trust TO. Mr. Williams, and he informs
me that their memorial srmply asked a
continuation OF their privileges OF clrcu
latlon under the 23d s-cllon Of their
present charter Tor such period as the
Legislature 10 rs wisdom might think
proper, suggesting The Term Of 10 or 20
yescs.
The Commercial Bank asked from
3 10 D years to wind up. The President
told the TO day that they would not &C
cepl a charter under Lalham's bill
with lls present restrictions it would be-
impossible TO do a remuneraring business
o say nothing OF The individual liability
clause, to winch persons OF capital, haV
IGg no management IN the concern,
would never agree. LIS possible that
some schemers. bank rupt in fortune and
character, might get up a bank, exhibit
Il cartsln amount oil sp"c'e, for the par
p0se OF issuing a circulation upon il.
and ~han The paper was pretty well DIS
tribu!ed, ~eVaporate, as Ihev did not long
ago st GalIIpolis. But do not think
men of neans will be found TO risk theii
who's fortune against $1,000 worth OF
stock, for The poor privilege Of ~loaning
money al 6 per cent.
We hear 1t stated on the stump thai
the Franklin Back OF Columbus, Bank o.
Mount Pleasant, Western reserve. &c
ara willing 10 accept charters under La
thsm's bill; we suppose with about a:
much truth as it is said that we would
This letter shows, that neither the
franklin Bank of Cincinnati nor the
Ohio LIE and Trust Company, asked
for q removal OF charters under the La
than Bill; and that, IN stating The SAID
frust Company asked for such a char
ter, Mr.. kIthCarl stated that which nd
musi have known TO be untrue We
regret that a gentleman OF his Apparen.
responsibility, should have placed him
self in so uncomfortable a position be
fore his constituents. But it is a posi-
ton Of his own choosing Telling 6b
is Q worss business even than barn.bur
ming. 1t is degrading and contemplate
In the letter from Cincinnati Is dbuve
it is stated as coming from The stump
that the Western Reserve bank was viii
ling 10 accept a charter under La'ham',
bill. The Western Reserve bank speak,
for itself, as ~toIIo"s:
Western Reserre Bunk, Warren,
August 25, 1912,
, "We did not directly or indirectly
mako any application whatever at the
extra session Of The Ohio legislature loI
a re.charler of our bank.
Our directors would be glad TO OBJ
tain q re charter upon som principle
which would induce our stockholders Il
invest their capital, with a hope OF real
izing some profit, but we think no pro-
dent company would invest capital undeI
: the General Banking Law Of last win
ter"
/ The above is from an officer Of tn,
! hank, What that bank saws. IN rele r