The Camden weekly journal. [volume] (Camden, South-Carolina) 1853-1861, 1854-12-12

\|AAAfAAO1 1~A
Report of the President and Directors of the
Bank of the State Of South Carolina.
To the Honorable tile President
and Members of the Senate:
The President and Directors Of the Bank OF
the State Of Soutl. Carolina respectfully report
That from the Both September, 1858, to lst
October, 1854, the5-nct profits of-he Bank
have amounted to 1895 ,000
From these there have been applied to the pay
ment of the interest on the State Bonds
/ payable in London. ..... S52,2ll 10
To the interests on the 6 per cents
J.. ct 1885,. ............. 4o,oll 20
And there have been transferred 10
the Sinking Fund. .l93.976 ~
s295,ooO 90
Herewith are submitted the usual statements,
exhibiting the condition ofthe Bank at the
close Of the fiscal year. ..a
We have paid of the public debt during the
past year the following amounts, viz:
Of the 8 per cents. S5,3lS 67, at
cost .........:.........S 1919 26
OF the per cents. of 1885,. l,5OO 90
OF the 6 per cents of 1888, paya'
bic 1850. ................... 20,3333 "a
----------
. S25, ,l52 80
AS had been anticipated, the profits Of the
Bank during the year have been less than those
| realized for several preceding years. The com.
petition resulting from the establishment Of
new banks in Charleston and in the interior
towns of the State, has tended to diminish our
income. But tbeatnonetary pressure, which
commenced in Earore IN 1853, became ex
tended throughout the c"unlry, and has been
felt, to a degree ain".st unprecedented, also
contributed to this cc>ut. The operation OF
these causes on us ary.evmed y the fact that
from the lSt Angus. 1888. tn the lst October
last. ou' rircuh,ti''n id icrosil accounts were
rednc"'' r,arly o;f million If dollars There
hav cr otI"r cabs ".'ra';ng The amount
m :.dva,,c,.~ r.de ny tic Bank in aid Of the
Irra>u,! 'avt Considerably exceeded that oil
t;prmer Years. and We were in advance through
nut Ih" nusinrS, season. The State, indeed,
had the benefit. but the advantage derived BY
the ,latc.nc> not appear to the credit of the
year d;'id""'I, also. ON the stock pied ged by
the St;'tr, IN account OF the loan made in 1890,
has not h"en received, though it Is under stood
that it vii be accounted for hereafter. If these
items wrr, estn,nlrdnnd brought into account
the income If the Rauk w"ud be considerably
augmented.
TT, i..rI i a> ..' . when definite arrange
anr,.. = ,!:....,t Decd. +. 49,. grde,ap pion Of
.i,"s ...,, ~ .1 saa. 't,.h' s.''r to fail
du
The, are ;"ih.w-..'
|. {. five i., Il T. t. -. >nd,IIwcst-
-: - Ira i T. >tarr subscription TO
tn catai. - lrIl'i're outstanding is
#37.035 80
IS :yabl' "f l>t, Jan'y 1858.
, i'hr ilr,' i,>'almeui of the State
non'is ''ynhl' in L"nd"r, issued
nnde' I'~ act ii ls3S. and also
.Hyabi, nn 1T January, 1858.
TIE balance outstanding will
Amount To about. $4,000 90
g. The i'>t m>'"mrnt of the six
per cruIs issued under the act
of 1888, wili Iaildu" / tJanuary,
1861. The balance due is about 100000 90
-
Ming an aggregate of. f.......Sl 091 ,035 %
five ,eal- fnn 1t J;tl,'y next. 81.
The IivI. ..rr cents viii br redeemed when
4a.: .,:.s,l:r - ,.,,"r,t being low, and the
h.,r. ., .,, .;...f,... IN n there is no motive
.'..... If ,,.,c,;c.b bIe 70 onticinate in nort
,n,. ,.,y.:.ru, If the bonds due in London in