Richmond daily times. [volume] (Richmond [Va.]) 1850-1853, 1851-05-23
THE EXCHANGE RANK

AT a meeting OF Stockholders of the Exchange Bank
of Virginia, assembled at the Banking House in Norfolk,
tice-On motion, VIM. II. Thompson, Esq was call
ed to the chair, and j. Marsden Smith was appointed
Secretary.
On motion of John N. Tazewel, Esq list of the
Stockholders present taken, and it was found that
60 persons present representing 1896 shares
of stock owned in this city and neighborhood
On motion of John Southgae, Esq the Chairman
read the meeting the proceedings OF the last meeting
of the Board of Directors.
On motion of John Southgate, Esq committee OF
three appointed to retire for the purpose of prepa-
ing aud reporting resolutions the meeting for its con-
sderation; whereupon the Chair appointed John South
gate, Charles FL. Shield and S. W. Paul, Esqrs who
after having retired returned and reported the following
preamble and resolutions, which all unanimously
adopted, with the exception OF the last, and that with
only one dissenting voice.
AT an informal meeting of the Sto ckholde1s of,he
Exchange Bank OF Virginia, the Goth day of Nav
to take INTO consideration the unfortunate of a
fairs caused mainly by the extraordinary course pur
sued by The State Directors, and the matter being deli
beratey and soernny weighed BY the COMMITTEE thew
recommend that the following resolutions be adopted
1st Be it Resolved That the sound and excellent con-
dtion OF the Bank presented to the general meeting
of the Stockholders the 7h inst furnished evidence
of the faithful and skiliu performance OF duty on the
part OF the President and Directors and commanded The
unanimous appreciation OF that meeting, as it does of
this.
I'd. Resolved, That the aforesaid meeting of the
stockholders in token thereof and of his enlarged du-
ties growing out OF an increase Of the Branches voted
increase of the salary of the President which was
warmly advocated by the States proxy, Mr.. Mallory
and who was mainly instrumental in carrying the same
although Mr.. Sharp urgently requested it should not be
done.
Sd, Resolved that the present incumbent (Mr Sharp)
has the entire confidence OF the Stockholders, and
that any effort made to effect his removal will leonard
ze the best interests OF the Stale and private Stock
holders of the said Bank, and be grossly unjust to
| him.
4rh. Resolved that nasmuch as there were runsors
af1oat previous to The last general meeting OF the
Stockholders on the 7h inst that efforts were being
made by persons having no interest whatever in the
Bank, and most probably hostile it, to obtain from
the Governor State Direction which would seek
to remove the President and State Directors then ac-
ting, large number OF the Stockholders recommen-
ded to the Governor such list of persons for directors
TO witt three OF the then existing Board and Capt James
Cornick, as had heretofore proved themselves worthy
OF the important daties required OF them but which
unfortunately for the nstitu ion the Governor did moi
heed but appontedour persons not owning one DOLLARS
worth OF stock, an portion OF whom have reason
believe were personally hostile to the Preden, of rho
| Bank. ~
5h. Resolved, That the said four Directors. to the
great jeopardy OF the welfare OF the Institution and
| without pretence OF just complaint against him the
President and in direct opposition to the wishes Of
Stockholders, did not only vote against Mr. Sharp but
declared at tine same tme that 50 long he remained
| President, no new paper should be discounted and
thereby subectng the Bank to disaster from the inter
rupon OF its regular and indispensable business and at
the same time causing much individual Inconvenience
| and distress.
9Th. Resolved, That the best interests of the Rank
require, and every motive Of duty to the Stockholders
and State demand OF him, that casting aside all con
slderatons OF personal character he the present in
cumben Mr.. Sharp, be most earnestly solicited on the
hst proper OCCASION thst, in his estimation NAV offer
# found necessary tor his reelection that he vote for
| himself
9TH Resolved, In the event of the non election .,
the present incumbent and of one or more OF the Dr.
ectors on the part OF the Stockholders being absent
from the Board from sickness other cause the Drec.
tors who may be present the part OF the khold
| j in tbo
OF one or more OF the said Directors it should be pro-
| posed to proceed to the election Of President
9th. Resolved. That the Stockholders not having
hai That ought TO exist in the appointments
MADE by the Executive on the part OF the State on the
ground OF prudence or OF good will towards the Bank
ana lat independently OF these or any other consdera
'lons the OF their intention prohibit the dis
counting OF all new paper that should be offered TO the
Board Is OF lselt evidence conclusive of desiJn 10
destroy the Institution and 10 produce Bsnkr uptcy
among its customers ''
Therefore, be further resolved That inasnuch 90 th
Aoi OF Assembly in such case provided authorizes the
Governor OF Virginia to annul these appointments and
10 appoint others in their places, that Charles Sbed
and Myer Myers Esq's, be committee to proceed
to Richmond TO wait on the Governor and Law before
MN these proceedings and those OF the last Board of
Directors, and respectfully urge such other consde
Iatons as are pertinent 10 the subject in order to ac-
complish the object Of this meeting and to report to rs
on their return the result ottheir mission.
On motion OF 3. w. Paul, Resolved, That copy
o. these proceedings be presented 10 VIM. W. SHARP,
Esq 'r'
GA motion of.Wm. /. Hardy, Resolved, That the
committee to proceed to Richmond be desired to re-
quest the members OF the Convention from this Dis.
lrct to join them in lrherine the object of the mis-
SION. 49, - ~ $3.50
Resolved, That copies OF the proceedings of this
pers for publication. "e r"
On motion OF Geo. Mclntosh Esq., this meeting adj
ourned TO meet again the 9Th inst 10 receive The
report ofthe committee. 'N'
Teste, VIM. II. THOMPSON
Chairman.
NEW ORLEANS MARKETS, MAY l6-e p M
ne sales OF cotton too day were 6000 bales at IN
changed prices-we quote mddling at ST. The re- |