Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1842-03-05
From the Missouri Republican of Feb. %.
THE CURRENCY

The feversh anxiety which has heretofore
pervaded our community, has not subsidized.
The Repatriation Of the notes of the State
Bank OF Illinois, is beginning TO be felt in
all money transactions. Yesterday the pa
per was sold at from 90 to 80 per cent. dis
count below the paper of the Illinois Bank,
and other paper which is taken in this com
munity. This depreciation is the result Of
uncertainty as to what is to be the upshoi
of all, The recent movements.
Mr.. Ridgely, the Cashier of the State
Bank arrived in the city yesterday: he
found the state Of affairs so different from
what he anticipated when he left Spring
field, that he will not be prepared to act def.
intely until he receives advices from the
Directors. 1t is now probably too late to
remedy the evils which have arisen, and
it is yet doubtful what the paper can be
appreciated & rendered receivable at, in the
ordinary business Of the community. But
from the statement of facts we have heard,
it seems that very bad faith has been OBJ
served by the Cashier of the Illinois Bank
towards the State Bank in this transaction.
An arrangement, it is stated, was entered
into between the two Banks, perfectly sat-
isfactorv to both; and the appearance of the
the Cashier Of the Illinois Bank here, sew
eral days in advance of the other, was an
ticipated, and, as was supposed by Mr..
RIdgely, fully provided for: it was not, there
fore, a little surprising when Mr.. r. learn,
ed, on his way to this city, lat Edwards
vi!le,) that this arrangement had been Who'll
ly departed from, and instead Of Mr.. Sid.
dali selling exchange for the paper OF both
Banks, he had discarded the State Bank
altogether. We have no authority to de
tail the arrangement entered into, nor to
state wherein all the violations consist, but
from representations which we have had
we cannot regard il as fair transaction,
but on the contrary, that the State Bank
has been hardly and unfairly dealt with in
this matter.
Mr.. RidgeIy, is expecting advices from
Springfield, and in few days we presume
the public will be apprsed Of what they
may rely upon: at present it is impossible
for US to give any assurance to our readers
as to the result. We believe there is eve
ry disposition on the palt Of Mr.. Ridgely.
and his associates TO do all they ought in the
matter, but the whole ground has been SO
changed that it must require time for them
TO determine on the proper course.
0ETAlter the above was written we were
furnished by the Cashier, Mr.. Ridgely, with
a statement Of the condition Of the Bank.
which will be found.
STATEMENT OF THE AGGREGATE
CONDITION OF THE STATE BANK
OF ILLINOIS AND BRANCHES, FEBRu-
ARY7 l842.
Bills Discounted, $1,317,954 SO
Bills Of Exchange, 547,l7l II
Suspended debt, viz:
Considered sale, $545,9C5 20
doubtful, e19,869 90
bad, 6e,695 lO-825469 SO
Loans on real estate security, 373,975 80
State Stocks, (1,686 Bonds
Of $1,000 each,) l,686,000 90
Real Estate viz:
Banking Houses, 10000 90
Other estate, taken in
payment Of deblsn 81, 1901 oo-87l 1901 %
Bank Stocks, 2,l00 90
Incidental expenses, 1910 96
Due by other Banks, 336,827 o.
Cue by state of Illinois $50, l65 90
Due by Fund Commits
sorers Of Illinois, l56,496 42-s43,488 &C
Bank balances, 60,236 OF
Cash viz:
Notes Of other Banks, l44,476 90
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