Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1845-04-11
BANK MEETING

BANK MEETING,
by reference TO anolher column of this
paper it will be seen that movement has
been made for the establishment of Branch
OF the Estate Bank of Ohio" in this place.
We are informed by agentleman, in whose
age and experience, as a fnancier, We
have the most implicit confidence, that he
thinks the Investment will be profitable.
I The next question tn IL presents itself
is, Can the capital be taken in Carroll? 1t
lis provided by the charter that 80 per cent
must be paid in, one half in coin and the
other half in money equivalent thereto,
the balance TO be paid in instalments of
10 per cent. every 80 days until 60 pei
cent is paid in-and when 80 per cent. is
paid in the Branch may commence bus-
ness. We DC not pretend to much ntor
nation concerning the money matters Of
our neghbOrs but we think that the pay
ment of the 30 per cent. at the start will,
at this season of the year, present by far
the-greatest difficulty. The time to oper-
ate is short. BY the frstot May the Com
mssiOners meet at Columbus to receive
the reports Of companies desirous to en-
gage IN the business of Banking. If we
fail to raise the amount of stock by that
time the chance will, in all probability, be
lost for the next twenty years. The stock
allowed this district can, and will be taken
in other counties, and unless the people Of
Carroll now secure the chance presented,
the boon will pass to others.
Can BGnh do business proftabH al Car
rolHoa? We think It can-because at any
time within the hast FIVE years, we think,
the people Of Carroll have nwed the Ohio
Life Insurance and Trust Company TO the
State for the Surplus Revenue, and to mo-
ney lenders in one shape or other, an a.
mount nearly equivalent to the amount Of
circulation ofthe Branch Bank proposed at
Cawollton.
The Surplus Revenue will be Withdrawn
gradually by annual instalments. The
loans Of the Ohio Life Insurance and Trust
Company will also be drawn irom us, and
the new issues will he required to fllup
the vacuum, These are but mino reasons
when compared with the latent resources
ofthe county which the facilities afforded
Ivy the institution will deveIope--our coun.
ty contains an area of 400 square miles,
equal TO 256,0O0 acres. twill he perceiv-
ed that about 25 cents per acre on the
lands Of the county would make more than
the 100000 required 10 be paid in.
Wenow asN the question of every farm
er who owns aquarter section Of land IN
Carroll county WoUld mol your quarter Sec
ton be tOorh Slo9 more if there tCH good
soiUPm Bank al CaroLHon?
The answer may, we think, be found in
'ne Iacl' that the encouragement to wool
growers, the inducement to manufacturers
to invest capital among us, and the crea-
ton OF a home market for our surplus pro.
duets would give u stimulus to industry
that would ensure to labor It's lust reward
Again, Carroll is located away from the
Ohio river or the Canal and conscduently
will not be exposed to runs for specie like
those branches located contiguous to pitt3-
burgh and Cleveland, or the other towns
or cities where a large brokage business
is done.
We could suymany more things if time
aud room would admit-bu, we must
conclude. The effort to raise the stock
should be made without delay we think
that several Of our wealthy farmers will
take stock; and we have the best reason.
for believing that stock will be taken in
Pittsburgh and ourneigh ighboring counties.