The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1855-11-09
THE BANK OF TENNESSEE.
From the Report of the President of the
Bank of Tennessee to the Legislature we
make the following extracts:

From the Report of the President of the
Bank of Tennessee to the Legislature we
make the following extracts:
CAPITAL STOCK OF THE BANK.
II is not thought necessary to specify the
various changes which the capital Of the bank
has undergone since it was first chartered,
which have been heretofore reported to the
general Assembly by its officers, at their
regular sessions, and is presumed to have
met their appreciation.
In the report to the last session Of the
Legislature, The 'nominal capital" is stated
to be, &2.75OOO, 90
The "actual capital 2.389,65l 81
The difference consisting in bad debts and
appropriations to rivers, which the officers Of
the bank did not feel themselves authorized
to charge off "thc books Ut the bank.
BY the act of 81 of March. 1851 the
President and Directors are directed to
"chargc off to account of profit and loss"
such debts rs they may esteem "hopecssly
bad" and to retain from the profits of the
bank such sum as may be necessary TO sup
ply the place of such debts, so rs not to re.
ducc the capital below its nominal amount"
The Board have had u careful examination
made of the suspended debt, Of which de-
tailed account will be- given in this report, by
which it will appear, after doducting the re-
served fund of profits, which amounted on
the LIST July last, to $lTT,552 40
Will leave u balance of lost
debt, of 2ll,l33 so
Which will have to be supplied from tie
profits Of the bank accruing after the LIST of
July last, TO increase the real capital to its
nominal amount, so that by the close of the
present bank year, the capital will be very
lu In, II. Tai,
1853. Second,
"THE DEBTS DUE THE BANK"
From the report Of the Cashier il appears
that the whole Of the debts due the bank,
and TO be considered, except debts due from
other banks which were treated us cash,
amounted on LIST July last, to Sl,0Oi,ll3 80.
Nearly the whole Of this debt, ii is believed,
will be available. Third,
"THE MONEY DEPOSITED THERE'S"
The Directors are gratied, to find the in.
dividual deposites in the bank from year to
year, increasing, as it affords satisfactory evil
dencc Of the growing confidence Of the COM
munty in the institution.
On the 1st July, 1919 they
amounted to S3S5,439 81
1851 lS3,3S5 90
1853 6G2l77 81
1855 g7l,3S9 IL
The last being the largest amount at any
time deposited with the bank. Fourth,
1.-THE NOTES rs CIRCULATION"
The circulation issued by the bank varies
in amount from year to year, as the business
of the country demands, depending upon the
season and the crops, and the activity of
trade and commerce:
On the LIST July, lSi9, the crcu-
latioE was $l,32L329
1851, lS99OSj
1853, 2,35l,22i
1855, l,295,l3.
The causes which produced the reduction
in the circulation on the LIST July last, will be
hereafter explained. Fifth,
"THE CASH Oh HAND"
Gold and Silver, LIST July, lsi9, S52s,S94
1851, 6il,9j;
1853, l,OO9,l3l
1850, 9l5,32-
THE SUSPENDED DEBT.
The suspended debt as reported TO Tn,
Legislature on the lst July, 1853, and whicl
was examined before the Legislative com
mttce in December, Amounted to
the sum of S72O,569 .,