Gallipolis journal. [volume] (Gallipolis, Ohio) 1837-1919, 1855-01-25

lFaIlut lkCC ooAhos ~ WI Soee,c-.o
u of Their agency in this city. we publ:
the following circular of Messrs, D
: Paals and Dcfrees, agents: E
e INDIAxAPoLIs, IND, Jan. 8, 1855.
"pBe late c6nveutionF of the speci,
. paving free banks, held in this city O
i the 4lhA day Of January, uuanimousl
4 passed he following fesolutions:
"Resolred, That committee of thre
Il be appointed TO classify the suspende
: free banks, and that the banks of thi
association will take their issues at
: fair. price. but Eiif nDtapaythem out.
Il 2. That sn agency be estabIshe
at indianapolis to which we win remi
said uncurrent notes.
4 $50. That said agency shall conver
\ the same into bonds to be sold. on join
account, or disposed Of as directed b.
Jthe party maling the remittance.
az. That if any suspended bank re
] fuse to, permit the delivery of her bonddi
on surrender of her notes, said agen
shall cause said notes to, be protested
and.the bonds to be sold as speedily a
the law viii permit. - -,
sFhe undersigned have been selected
and accepted the agency contemplated
in the above resolutions, and have taken
room on the second floor of Temper
ance Hail, in which to transact such
business. ''t'-i s-1.si.i'
"Phenecessary books; forms and cir
culars are now being prepared, and by
Saturday, January IS, the agency viii
be ready to go into operation Parties
at distance may remit at once. sT5els
tThe agents intend faithfully to carry
out the wishes of the convention, tolwit:
To remove from circulation all sus-
pended and broken bank paper, and to
supply its place with good, solvent.
specie-paying currency. To facilitate
the latter the agency contemplates, at as
early day as possible, to check on New
York for all specie-payingi free bank
paper at satisfactory rates. ..a. -i.1
"The books of the agency shall be SO
kept as to show at glance the total
amount remitted. slg
81. By all correspondents. .ra-L
"2. By each correspondent. II
'3. By each correspondent on each
suspended bank. - '''..
'Secoad. The amount cancelled on
account of all correspondents as we'll as
on account of each correspondent. i.Hs
"7Hird. The net proceeds Of sales Of
bonds on account of all as well as each
separately, so that each correspondent
can be furnished, at any time, with his
account current showing: -t.. .--.
al. The amount he has remitted.
'2. The amount cancelled. 5ii1
'3. The proceeds of bonds sold. To7
"And, also. showing, the balance to
his credit at the agency of h
al. Suspended money uncancelled.
't2. Bonds unsold. -..I IN 4. .....f,-.
'''3. Cash. lo =, 80 III sJ .t- &
Cancellations. taking up and remit
ting bonds for sale, as well as transmit
ting to each correspondent an account of
sales, shall receive prompt attention.
"All remittances will be promptly ac-
knowledged.' -. -. p. -,
htales to Be O5serped By Correspondents.
'.The agency will prepare and fur
nish, on application, printed schedules
with proper heads, showing the name of
the party making the remittance; to
whom remitted; directions from the cor
as to what disposition shall
be made of the bonds, or proceeds of
sales of bonds; the name of each sus-
pended bank, and cash column in
which the correspondent will specify the
remitted on each suspended
bank, and the total remittance. 80
'The notes of each suspended bank
must have separate band around them,
With the amount MAJ ked on it. - n
"The value of the bonds on the file
1ary so much that the above plan is in
iispensably necessary to insure satisfac-
ion, otherwise the agents might be
By strictly observing this
'ule, each correspondent will get the
proceeds of his own money. ilu /
"Any correspondent desiring to have
he proceeds of his remittance in bonds
must give notice thereof to the agency,
Ind he will be furnished any bonds on
land, and charged therefor the net price
called from sales of similar bonds in
New York, taking the last sale made by
he agency as a criterion" /