Cooper's Clarksburg register. [volume] (Clarksburg, Va. [W. Va.]) 1851-1861, 1852-11-03
Our Bank.
WEST Fork, HARRISON Co.. VA,
an.l. 1870

| WEST FORK, HARRISON Co., fA., 81
| October 28th, 1859. ii
Mr.. Ep1roR Allow me through the
columns of your excellent paper to call the
attention of the citizens of this and the
adjoining counties to the provisions OF the
charter of the " Merchants and Farmers
Bank of Clarksburg,' granted by the
General Assembly at its late session.
This charter, it will be perceived by re-
ference to the columns of your paper OF
last week, authorizes the establishment of
an Independent Bank at Clarksburg, up
ON the :" Free Banking system" and it
will be readily admitted by familiar
with Banking Institutions, that the q. Free
banking System is at once the most re-
publican, farthest from monopoly. and
wherever it has been fairly tested-as
well in Virginia as elsewhere-has been
found admirably suited to the wants of
the people, and efficacious in promoting
their interests. prosperity and usefulness.
Not only in this point of view have Bank
ing Institutions of this kind been found be-
nefcial, but from the additional fact, that
they furnish ample security to the note
holders, whilst they pay handsome divi-
dends, as remunerative profit, to the
Stock holders.
Our charter authorizes minimum cap
ital of $50, 900, and maximum of $780,
900, either in money, State stock or guar
antied bonds TO that amount deposit
ed with the Treasurer of this Common
wealth he is authorized and required
!, to register and countersign an equal
amount of Bank-notes of the Bank, OF
various denominations, not less than five
dollars, and so on, upon further deposite,
in Ike IF lacS loar
$4,000. The Treasurer, it will be seen,
r may register and countersign notes, as
above, to a sum not exceeding $500, 900.
S These State-stocks or guaranteed bonds
f are Understanding funds, yielding six
per cent, payable emi-annually, to the
= Stockholders of the Bank, out of the
: State Treasury: thus the Stock holders
t of the Bank realize certainly, and beyond
contingency, six per cent. payable semi
annually out of the State Treasury, on
every dollar of Stock held b. them in
Bank-stock whilst from the operations
of the Bank, in loans, discounts, deposites
/; and exchanges, they will realize besides,
/ such additional per centage-varying
most probably from 5 to per cent-on
f their Stock, in the shape of dividends, as
may arise in the process Of Banking
e The Stockholders, then, are sure of re-
ceceiving, semi annually from the State
+ Treasury, six per cent. on their invest
E ments, to which may safely be added,
: from to per cent, the profit from the
4 financial operations of the Bank thus
! showing net profit in the shape of semi
e annual dividends, of not less than from l
: to Is per cent. on their investments, vary
ing, of course, according to the amount of
. business transacted by the Bank
e This presents, per Sc, rare inducements
to capitalists, businessmen, in every de-
4 partment of life, and of every variety OF
pursuit and occupation, not only in this
: but in the neighboring counties of Ran.
n dolph, Barbour, Taylor, Marion, Levi:
: and Doddridge, to say nothing of the ia
. cilities furnished in Clarksburg for the 10
: cation of Banking Institution, situated
: as 1t Is. in the midst Of a large, wealthy
: and populous county, where great and
e compromising advantages will doubles.
/ be derived from the construction of the
North Western Virginia Railroad through
e our county. Besides, it is estimated by
$ well informed gentlemen, that, if Bank
e were established in Clarksburg, not less
/ than two and half millions Of dollars
from State sources alone, would, in the
e progress of that work, pass through the
7 Bank; and this, too, paying from j to 2
S per cent. This, it will be seen, would
: greatly augment the profits to be derived
|, from an investment in the Stock of the
S Bank. provided the Bank is speedily or.
: ganized and put in operation, so as to
meet the present and future demands OF
! the Railroad Company in conducting its
financial and monetary affairs. If our
r Bank is not speedily, and at once organi-
zed, the North Western Railroad Com
| pany will, per neceSsitate, be constrained to
look to other sources for Banking facili-
ties-to other neighboring Banks, in which
to make its deposits and obtain accommo-
! dations. Is this, then, with us, ga con.
summation to be devoutly wished for 90
!. | answer emphatically, MOI If we now,
by our want of energy, lack of enterprise
, and public spirit, suffer this golden har-
vest to pass unimproved, and deny not
only ourselves, but this entire community
the large remunerative profits to be deri-
we'd from so fruitful a source-to say moth
: ing of the local accommodation we
not have pursued policy most short
sighted IN itself, disastrous in its results and
suicidal In Its consequences Not only
as affecting our personal and individual
interests, but equally the interests of our
I, whole community. Would any sagacious,
tar-seelng. fnancier counsel us to such a
course, in utter disregard of our truest, our
best interests? l humbly opine not. If
this view of the subject be correct, every
man among US, of whatever avocation or
pursuit, is personally interested-every
business man, especially and pecuniarily
The merchant, not only because it will
furnish him accommodation in the form