The Sumter banner. [volume] (Sumterville, S.C.) 1846-1855, 1850-08-28

increased since l s, OctoLer. II is mos,
likely that al least this amount of the
assets will be lost; for although some Of
it may be good, yetynl lenst an equal
amount Of the rest will prove bad; SO
that the loss on this score may be set
down at 100000. How much more
of the general nssets.must be set down
as bad, it is impossible 10 conjecture;
but facts which hnvetranspred drrkly,
IN relation to fnmilysloans and ncor.
pora.cd companies, make it probable
that tho loss from these quarters mus,
be great. do no. propose, however,
to take into the account such conjectur.
al items.
"The statement ofihe Bank gives us
the large item Of S434,835, invested in
stocks, OF most Of which there certainly
must be loss. Then the Banking
Houses are SC, down at S67, ,147, when
they will scarcely realise one hulf Of
that sum; and the real estate, owned by
the Bank, at S3s.960. Setting down
the whole losses on oil these assets at
tho sum Of S4OO, 900, and dcduc,ng
from ,hn, the SlOD,0OO, of surplus
above referred to, we have n result that
the Bank as it now stands, has sunk
about $500, 900, orEnearly one.,hird 6f
the whole actual capital put in by The
State. And if il beicoR,inued upon The
same footing until lS56,at the annual
loss above shown 10 have occurred for
the las, ten years, itS@ill probably sink
One.siXth Of what remains"
| will make no cofnmenthcre on The
spirit in which this :slatenentis made,
nor upon The accorfiance these insn-
uations with the sentiment in the open.
ing paragraphs ofstbis speech. With
these dark insinuations have now moth.
ing 10 do; but 10 iheelear and distinct
charges. | have replies which will. +
trust, prove satisfactorily The obie.c.
tions that fact or inaginatien could
frame against lhe soiinlaessof The Bank,
aguins. tho snfiiuienng lsof I tte assets,
against The .seeu /.
The fn1ds stis. put in the' Bank arc safe
and we'll secured, and can be realized,
if she requires il, are here sci down by
the great Anti. Bank Prosecutor in his
Bill Of Indictment. Ii is bill Of par
liculars; one he has proclaimed in the
halls of legislation; written over in his
closet; printed in newspapers, and nice
pamphlets, bound up in red, yellow, and
blue, and scattered, by supetscrviceable
underlings, into every nook and corner
of The State. !, will be seen lha, he sets
down 'lhc whole losses or oil these us.
sets Of the Bank at The sum Of $780,
600 The apparent deduction Of the
Sl00, 600 carried to the Sinking Fund,
is no deduction, for it would only take
that much from The Sinking Fund to
cover $ $l00,O 900 Of the whole loss which
he puts al SI0O,0OO. Now. on what
part Of the assets Of the Bank, does Mr.
Mcmmingcr saddle this loss Of SI0O,.
600? Total loss 100000 which he
distributes as follows:
|. On bonds and no,cs in suit. loss
S2iI,079
.. On bonds and notes no, in suit,
enough 10 make up 100000, or
55,92l
3. On Banking Houses, halfor 1888
4. VII SIOChS, tIc DuIhHCc Ol StOU.uUD,
or G6,l22 400, 900
When the Committee appointed 10 in
vcsligate the Bank came TO discharge
their duties, they demanded of the Bank
statement which would show what the
Bank was liable for. and what il had to
pay oil, or meet those liabilities with.
This statement was furnished, and then
the Committee called br the Books Of
The Bank, and compared the statement
furnished, with the Books Finding ,hnt
Books and the statement correspondent,
they then called for evrry bond, mort
gage, noe, bill of exchange, draft, judg-
mcnl, the Bank and rta estate cerlif-
Gates Of stocks or other evidence the
Bank had 10 show its ownership Of any
fund, property or thing it claimed or
set forth in its statement. These were
produced, and ell found right. They
then began that SCRUTINY on which all
else depended, to ascertain the value,
The worth the avnllabl,ness of each and
every ono Of these tonds. mortgages,
notes, drafts, bills Of exchanges, stocks,
Bank estate, judgmmts, &c. &c.
But il will doubles. be more salts.
factory TO you to have he account which
the Committee gave inlhcr report Of
their proceedings. Oh the seventh
page filcir report, ym will find the
following summary--hcy had stated
previously, the vurIousliabilitics Of this
Bank, on the 1st day Of June, lS40,
nficr which they say: $50 that The
amount for which the hnk was nccoun.
table on the lst Of JIne last, (lSd9)
was as follows: viz: Cailal, Sl,l23,357.
Bank Notes issued, Sl,'63,202 Sink.
ing Fund, $52s,24 g. Fire Loan
Fund $l,7S3,586 20. Dcpostes,
| S7ll,lS7 OF. State treasury, SD.
OSl 20. Bills paylblc, $4,000.
Balance due HamburgBank, S22,s47
o.. Discount, intercsian protest ac-
counts, (profD 05,572p6; making the
liabilities ofthe Bank S,032,075 33.
The Bank accounts for these funds
by exhibiting their equivalent in bills,
notes, and bonds Of indGiduals and cor