The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1849-12-12

Cured in The meantime, through the books,
they ascertained the correctness oflhe state
mcnt Of the first June. viz: Bills of the Bank
of the State, Ss06,24l so; bills of other
Banks, sl59,llO. Total of bills, S965,35l
50, Specie SlS3,ll6.
Foreign Exchange. This item, amounting
to S70,9l7, consists of bills on England and
France purchased in Charleston. and remit
led partly to the agents of in New York for
salc there. The Committee saw no reason
TO doubt that these bills would be paid al
maturity.
Domestic Exchange. This item consists
OF two bills on New York amounting toge,h.
er. to $500, purchased in Charleston and
remttcd TO the agents Of the Bank for col
lection.
Barring, Brothers and Co. C. J. Hambro
and Son. These arc the agents Of the Bank
abroad to whom foreign bills purchased mere
are RENTED for collection; and the Sans Of
s3o,sl3 81 and s3,264 4s, appearing as de-
mandS against them respectively, are balan-
ces in their hands on account of bills former.
II rcmted and collected nv them.
Merchants Bank. New York; American
Exchange Bank, New York. These are
auen,s Of the Bank at New York, to whom
Bills on England and France arc reunited
inr sale. and bills on New York for coIIec-
lion, and the amonn, of S4l,s7s Ct and
Sl10,596 ii due from them respectively v are
balances on account OF such sales aud col
lccliouS.
Bank Estate, Real Es,ate. These two
heads cover all the Real Estate owned by
tho Bank, the first being intended to del
nate only the Bank houses, and the other,
all the rest of the real property.
The balance Of debts IN the account Of
Bank estate, is, S67,l47s5, 1t is represent.
ed by the Bauk house in Charleston occu-
pied by the Bpnk, and that which it former
ly occupied. now under lease to to the South.
western Railroad Bank. and the Bank nous
es of the branches al Columbia and Cam
den. The Committee procured an appraIse-
ment. to be made by the best informed and
most judiSpus persons in Charleston, of the
Two Bank houses there. and they were val
ned as follows, viz. The building occupied
by the Bank Of the Stale. al 10000 if sold on
The usual terms, and $4,000 If sold on cred
it of ten yoars. The former stands on the
books Of The Bank at S29.932.97. and the
latter at S22,37l64 The Bank house and
lots in Columbia charged at S65OOO ale
certainly worth that sum, aud the Bank
house aud lot in Camden charged at $1,000,
cannot fall short Of that value. On the
whole il appears to the Committee that The
value ofthe Bank Estate is, perhaps, SGOO0or
$1,000 less than The amount for which 1t
stands The balance of debts in the ac
count of real estate is S42,552.25. The
largest and most important item Is the Car.
DINA Hotel, in Charleston, which is charged
at S293l6 %. The CommilIee procured
n appraIsement OF it to be made by the same
gentlemen who appraised under decree TO
fnrec!nse mortgage made to the Bank by
the former proprietors The item of tins
accounts next in importance is tract o:
land in Fairfield District. which was pur-
chased under a iudgmen: assigned To The
Bank in part satisfaction ola debt. II is
charged at S50Ol, but the Committee had
Information which they believe may be re-
he'd upon, that It's actual value is near y. if
moi quite, double that sum. (It is sold at
Sl2OO0.) Some Of the other items of real
property it is believed could nnl be- sold for
us much as they are charged at. but the a.
mounts are no, considerable and the aggre-
gate value of ll.e real eslale at leas! equal to
The amount it represents.
INTEREST AND EXPENSES OF STATE LOAN
This is an account between the Bank oi
of the State, which was originally Icbitcd
with the expenses attending the negotiation
Of the loan for rebuilding The City Of harcs.
ton, and credited with the profits made by
the sale of The bills drawn on the funds raised
in London for the purpose OF bringing the
money home. The Bank pays The interest on
this loan. and 10 pay the interest on that part
nf 1t Contracted IN London, empInycd as IT'S
agents there. the hnnse OF Barring Brothers
AID CO. vino. OF COURSE, charge coInnls-
<r,n uf their agency. These payments Of
interest and commission are Gebted TO this
account. rnc credits consist of amounts
transferred from the discount account 20 this
account. The Bank beng accountable tn
the State for It's profits which are chiefly
represented by the balance of credits in the
disrrunt account. that balance is debt Of
the Bank to the State. When, therefore,
any annrnt is transferred from The discount
account 10 this, and dcbilGd to that acc"nn,
as so transferred, though The indebted
ness of the State to the Bank on this ac-
count is diminished, OF. thai of the Bank 10
the State is increased IN precisely the sane
proportion accordingly as there was a bal
ance Of debits or credits in tins account. On
the lirs Of June the balance of debts in this
account was sd ,23307.