Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1850-02-02
REPORT
OF THE JOINT SPECIAL COMMITTEE OF IN
sPEcTIoN FOR THE BANK OF THE STATE
OF SOUTH CAROLINA ~ cHARLB3 SION.

which the sum Of 20.076 "a il desperate,
and ought 10 he taken out of the state
ment, and carried to the account ofpro-
fl and loss. and the sum ofSlS,S04 lG is
doubtful But there were arrears OF in
terest on good debts in this schedule
amounting to S23,6l3 40. which do not
appear in the statement. and more than
sufficient to replace the bad debts to be
withdrawn
Bonds The aggregate amount of
bonds is S4S9,225 81, of which SS.4l9
can never lie recovered, and ough, 10 be
carried to profit and loss. But the ar
rears Of interest on good bonds amount
$l4,0T0 55, by which that loss would be
more than repaired.
Bonds taken for loans under the act for
rebuilding the city of Charleston. OF
these bonds there were 1876, amnun' ING
in the aggregate to $.40.767 20. They
call secured BY mortgages OF the land,
for building on which the lolns were
made. and having the addlioul security
OF the guaranty of the City Corporation,
are undoubtedly good.
judgements. The Bank has obtained
Judgem3 3nt on mist OF the bills and notes
in suit, but these are not included in the
item of Indictments in the general state.
ncn.. citbcrin mart ,tisf,cfion Of oibnr
demands, or because the no session and
control of them promised some a,!yan-
tage towards the security Of other debts.
he blancc duruDon them amount, 10.
gethcr to Sl0.259 CD: butthrir cost 10
The Bank wrs S17.95S 50. at w'li.b sum
they stand in :he statement. They are
all good, and as 10 ,ome Of them, which
are of old dae, the Committee see no
good reason WHY they have not been lono
since collected.
Stocks. The stocks held bv thn hank
ON the lst of June last, are nccifipd in de
tail in the accompnnyinr schedule d
They stand upon the Books Of the Bnul,
AS repre- ,en,nr the sum Of s471.57O 0S.
the balance ofdcbts in the book account,
but they a,e actually worth more for
though some of them could not be- sold
for as much as they reo,eSent. others
would re llizc Il considerable advance So
that their agorcootr voluc rxcccds tb,t M
which thew are Set down in the General
statement, what is desirna,ed os thc six
per cent stock of the Sou,hwcstcrn Rnil-
road Bank. isn certificate of denosit bv
which. upon tho reduction Of the nnmbrr
of shares in the Louisville Cincinnati nm
and Charleston Railrood Comnonv and
the Southwestern Railroad Bank. the
Bank refundedthn amount Of the reduced
shares. What are called bonds of the
Western and Atlantic Railroad orc bond ;
or cerii6cu,es. secured bv nlodgc of tbot
Railroad which is the nronrrfv of tbe
State of Georna. and of its nro6ts
They could not ncrbnns he sold IT what
they cost. but the monevis. no dnubt
safely invested. The bonds of tie CITY Of
Montgomery wcrc t,kcn in nort ,,;sf,c.
ton of very doubtful debt. and thonoh
not salcablc at nor ~ thov stand unon
the books of the Bank. are secure and
will, no doubt, be redeemed Mt m,tui,v
and, in the meantime. arc hearing iutcrc #
Mt the rate Of ner cent
Bank notes, Specie. The actu,l
amount Of cash counted hv the Commit.
tee was as follows. Bills of the Ronk ,f
the State. 1907 827 90. Bills of other
Lo,L A1co ooo Ct. a,o -no M