Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-05-13
DOMESTIC.
EXCHANGE BANK or VIRGINIA.

EXCHANGE BANK OF VIRGINIA.
AT nm annual general meeting of the stockholders
of the EXCHANGE Bank of Virginia, held at their Bank
ing House, Cat Norfolk) on "Wednesday, The 4th Gay
OF May, 1872 large majority of the stock being re-
presented, and the proxy OF The State present
On motion, John Cowper, Esq, vas called 10 Inc
Char, and A. 4. Maurice appointed Secretary
On notion TIE following gentlemen were appointed
q Committee 10 examine the proXes-hr' Newton, Me'
Skipw,,h and Mr. Robertson
The President made report Of the condition of the
Bank which, on motion, ordered to be received.
A resolution was adopted 10 appoint Committee
10 report to this meeting, the eyptdency OF curalinS
the salaries the Bank and lis Branches The follow
ing gentlemen appointed Mr. Mclnt"sh, AIT.
Southeate MIR Boiling Mr.. SkpwIth and Mr. Myers
who retired and in short time made their report;
Whereupon it was ReSoired, That the annual com
pensa,ion OF the President of the Exchange Bank and
Branches shall be as follows: Of the President OF the
Exchange Bank at Norfolk, fifteen hundred dollars OF
the Branch at Richmond, seven hundred and htty dol
lars; of the Branch Petersburg, seven hundred AND
hitv dollars and Of the Branch at Carkesvlie, five
hundred dollars.
Resolred In the opinion Of the Committee, It should
be recommended by the Stockholders to The Directors
of the Mother Bark and Branches, TO reduce The mum
Der and salaries OF their respective officers where
such reduction, either in number or salary can De cone
without prejudice 10 the interests OF the Institution.
Resoirtd That the Directors of the Exchange Bank
and its three Offices, hereby required 10 prepare
and lay before the Stockholders at every annual meet
ing list of the salaries of their respective oihcers,
with statement Of tie contingent expenses OF each
establishment.
RfsoIrfd That the Stockholders agree with The
Judges of election, that the PROXY Of the State under
the charter has right to vote for Directors TO De
elected by the stockholders and therefore that the
tender of his behalf OF the Sote IS r'ghuly re-
jected.
Resolred That the proceedings Of this meeting be
published IN of the papers oil Norfolk, Richmond
and Petersburg.
On motion The meeting adjourned
IAII Inn
A. A. MAURICE, Seey.
REPORT.
Since the last annual meeting Of the stockhoiders
nothing has ransp,red in relation 10 the concerns oi
the Bank, which consider OF sufficient moment 10 be
made The subject OF special report
The statement which is lad before you, SO
plainly and fully exhibits the condition OF the Bank,
that no upon it is necessary. The strength
Of the Bank depends upon the ability o! lis Debtors,
und facility with which It curtaii or cohtroi its
discounts. So far am able TO speah, from my own
observation have every confidence in the security oil
the loans made here have knowledge OF any mat
have been made 10 facilitate real TRANSACTIONS aho
have little doubt that they are Sufficiently uhoer our
control TO meet any csigcncy which may arise Tue
loans which have heen made at the other departments
of the Bank, are said 10 be securely made. we nave
the assurance OF the Presidents of the Branches That
this is the case, and am glad that those gentlemen,
through whom this statement IS made are now present
confirm necessary. AS TO the amount oil our os.
they do not exceed 30 per cent, our capital, an
amount which few VIII, and think more ought to OBJ
iect circulation in the proportion oil y TO !,
nearly So and cannot therefore be considered excess
sive. The profits of tic institution mace SINCE Tie
3st of December last, and up to the 26h OF the last
month, say months would enable us now to declare
dividend OF more than - per cent would no, be
understood expressing the opinion that such dyi-
dend ought be mae-on the contrary, believe that
II would be wise provision, To resric, Banks to divI
bends Of per cent but this is my opnon merely, and
as TO the profits referred to. should not have deemed
II necessary have alluded to them, except 10 sew TO
The stockholders that their investments are not so un
profitable as the present price of stock seems 10
indicate
Ii may be proper also 10 inform you that there is a
good prospect OF carly resumption OF specie yncn's
by all the Banks Of this Stalewltbout that, notwuh-
standing the resumption of the Banks in the neighbour
ing States it wonld have been mprudent in this Bank,
whatsoever its strength 10 have attempted t-and the
Direction here has cordially entered into the proposed
measure Of meeting on the llth OF July next, to be
composed of delegate from each o: the Banks and
Branches of this State, TO SIX upon some early day
thereafter az the period Of general resumption.
II is believed that the issue of one and two dollar
notes will materially aid this desirable object, and at
The same time be of great convenience to the public
and have therefore determined to avail ourselves OF
the law authoiisny issues of those denominations.
(Sipned) vs.. w. SHARP, Prest
SOUTHERN LITERARY MESSENGER FOR APRIL, 1912.
The paper on 1.-The American Revolution" intro
duces several interesting historical documents, with
some Just and forcihle remarks the value and i'm
porlance of reasurng up these manuscripts OF other
times.
The documents which Mr.. Lee gives to the public,
show how early and determined the spirit Of re-
ss,ance which the oppressive acts OF the mother coun
try awakened in Virginia, particularly m the county OF
WestmoreIand, rhe county which gave birth to Wash
ington) and through the especial agency. as it would
seem, of Richard Henry Lee, Patrick Henry, and a
few compa,ro,s The letter of Patrick Henry to Col
Lee is so indicative of his warm and manly feelings,
and w,hal has never, save in the Messenger, been
printed, that we extract it entire.
WMsBuRG, Williamsburg May 20, l116
Dear Sir: Your two favors with me, and for
them both, give you many thanks Ere TINS reaches
you our resolution for separating from Britain will be
handed you by Col Nelson. Your sentiments as TO The
necessary progress of this great affair." correspond with
mine. For may not France, ignorant of the great I'D:
yanayes 10 her commerce, intend to Offer and OF
the permanency of that separation, which is to take
place. be aured by the partition yon mentIon' 10 an
tcipate therefore the efforts of the enemy by sending
instantly American Ambassadors to France, seems 10