Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1842-03-04
From the Ohio State Journal.
CONVENTION OF THE BANKS

held at Columbus, February 18th and
18th, 1912, pursuant to notice, the fol-
lowing legates appeared, viz:
Ohio Life Insurance and Trust Com
pany-M.T Williams.
Commercial Bank Of Cincinnati-J.
Hall.
Franklin Bank Of Cincfnnali-E S,
HaineS.
Lafayette Bank Of Cincinnati-R. G,
Mitchell
Dayton Bank Perrine.
Xena Bank i F. D,ak
Commercial Bank Of Scioto-S. NJ
TRACY.
Clinton Bank Of Columbus-D. w,
DeShler.
Bank OF CircIevilIe j. OldS.
Bank Of ZanesviIle-C. C. Gilbert
Bank of Muskingum-S, SturgeS
Belmont Bank Of 81. CIairsviIe- w.
B. Hubbard
Farmers and Mechanics Bank Of
SteubenviIle-J Wilson.
CoIumbana Bank Of New Lisbon
B. w. SaodgrasS.
Bank Of MassrIon-C. K Skinner.
Bank Of Sandusky-B, Higgins, n.
II Barker.
Bank Of Norwalk- T. Baker.
Bank of Woosler-J S. Lake.
Bank of Maretta-AuguStuS Stone.
On motion, N T. Williams, ESQ was
appointed President, and B. Higgins T.
E. F. Darke, Secretaries
On motion. ReSOlged, That for the
purpose orresuming and mantaing spe.
Gle payments the Banks, parties to this
Convention, will pay gold and silver
from and after the 4th of March next,
in accordance with the requsitIon Of the
Legislature Of the State of Ohio.
ReSoIUed, That the aforesaid Banks
will receive in payment Of debts the
notes of such Of the Ohio Banks as shall
resume in accordance with the afore
said resolution.
Resolped, That in the opinion OF this
Convention, wholesome currency can
ouly be maintained by union, concerted
action and good faith between the banks
Of Ohio which sustain their credit, by
receiving and returning for resumption
each other's notes, each bank paying
out its own notes, and by avoiding all
radical and sudden changes; and that
we recommend the adoption of these
principles TO the banks represented
here.
RESOLVED, Thpt a committee OF inspec.
tion of five officers or Directors of Banks
shall be elected by this Convention, who
shall have the right, and whose duty it
shall be 10 receive monthly reports Of
all the Banks. 1t shall be their duty
upon the request Of any two Banks to
examine the affairs ofOny Bank being
party to this agreement, and require
Of such Bank to reduce its liabilities OF
increase its active resources, according
TO the discretion OF said committee.
ReSolued, That Joseph Ods Of Cir
cloviIe, Samue Fosdick and William
Hooper Of Cincinnati. W. B. Hubbard
of Columbus, and B Higgins of Sandus-
ky, compose the aforesaid committee.
ReSotued, That Immediately after The
4lh Of March next, said committee sha
devise some plan Tor the exchange o.
notes and settlement OF balances suited
to a system of specie payne nts, which
shall be submitted 10 the Bank, and i
approved by two.thirds Of them, shal
be considered as binding upon the whole
which system SHAH be based on the
principle tina, each bank shall return
the notes Of all other Banks 10 centra
point of exchange, periodically and pay
out only its own notes: PrOUided, Tha
such specie paying banks as are abou
TO close their business, and whose char
ters expire in i842, and for that reason
are unwilling 10 issue their own notes
may pay out the notes Of other Banks
the said Banks hereby agreeing to pa,
out such notes ndscriminately and il
good faith.
| Resolped, That the expenses Of sai
committee shall be paid by the Banks
as shall be directed by the next meet
ing of this Convention
Resolped, That the Banks represen
ed here will meet semi annually j
convention, on the first Wednesdays {
July and January
On motion, the Convention adjourned
M. T. WILLIAMS, Pres't.
3 B. Il HIGslNs, Dau Secretaries.