Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1855-01-06
STOCK BANKS OF INDIANA.

few thousand dollars to purchase little ultimate
security" is owner of bank or two in INDIANA
Illinois, the following description from the Cinema
tt Commercial, of Western banking and of an inter
view between bank officer and bill holder will
be appreciated -
The Stock BANKs OF INDIANA 's DUNN BROWN"
If there was anything wanting to justify the course
OF the business community towards the " free banks"
of Indiana, to convince the people of that State
of the unreliable character of those institutions the
letter of the Hon. John p. Dunn Auditor of State,
dated Nov. 1, and published in the columns of the
papers in this city on Saturday last will supply the
deficiency. And if anything was needed to COM
pete the dscredit and establishment of all existing
concerns organized under the free banking law and
put check upon the creation of any new ones Mr.
Dunn's letter is ample to meet the demand. We
have recently heard great deal about ultimate
curity. What ultimate security is, Mr.. Dunn has de-
fired with greatcearness and elegance means that
the circulating notes of the stock banks are to be
paid some time or other-f ever.
Suppose gentleman should be unfortunate as
to fall heir to five dollar note upon one OF these
institutions, and desires to realize upon it specie
exchange, or the notes of 'rotten concern,
that pays its issues presentation, what is he to
do? First, find the bank! that of course; and that
is not always an easy matter. Banks in Indiana
Turk in out-ofthe-way places. Like the insect hun
ted by the chronological Hibernian, when you find
them they arnt there. They don't affect corner lots
but shun the din of crowded cities, nesting costly
under the lee of primeval forest, marked by an
ancient Indian trail or solitary cow path They are
things to be found by the bee hunters, are seen far
off by the midnight Nimrod in search of coons with
the moonlight sleeping upon their single roofs and
primitive cornices. Capital has become modest
and wealth retires from the world into the closters
OF the deep old woods, the holy solitudes of the
prairies, conversing with Nature-laying up its
treasures where none but the Hon. John P. Dunn
can find them.
But suppose that the institution is revealed, and
the monetary Anchorite stands confessed; suppose
that business hours have arrived, and the shingle
whose opposing surfaces give each other the lie,
faces the sun with the announcement-"b bank is
open," we the aforesaid heir, with rapid steps
approach the edif1ce. He enters he draws his pic
torial evidence of promise from his pocket-book
he approaches the counter presents his note to the
paying teller, and colloquy ensues -
Can you give me specie for this?"
Ono"
"sight short time eastern exchanges?"
Ono"
what can you give me?"
Nothing
'Why?"
You are making run on our institution. This
species of presentation are bound to resist You
are trying to break us, sir-to make us stop pay
ment, sir; you can't do it, sir"
But havn't you stopped payment when you re-
fuse to redeem?"
"No, sir. Ours is stock institution. There's
your ultimate security, sir, deposited with the au
Look at the lawl Look at Mr. John P. Dunn's cir
cular!"
"But have you no specie on hands" =
eyes, sir; and are bound to keep it. The law
obliges to keep tweveand a-haf per cent of spe-
Gle on hand. five pay out every time one of you
fellows calls, how can we keep it on had?"
Then shall proceed to have the note pro-
tested"
every well, sir. You will find a notary public
at Indianapolis, provided he is at home, which is
only about one hundred and forty miles from here.
But, sir, you had better go home, and rely upon
your ultimate security. We can't pay specie-fnd
n
can't lose your money though you never getit. Re-
member that"
We will suppose our gentleman unreasonable
not to be satisfied with the representation of the
paying teller, the great principle of ultimate Sc
curity. He finds his way to Indianapolis, makes
protest in due FORM and, note in hand, proceeds to
the office of the Hon. John P. Dunn, auditor of
State, when another dialogue ensues:
Sir, have note of the Squash bank at Lost
Prairie, with certificate of protest, which want to
deposit in your hands, with request that you make
collection speedily as possible"
" Certainly, sir"
GLOW long before can expect to realize upon
the ultimate securities of the institution? Thirty
days; is it not?"
"Not quite as soon as that sir. I shall forthwith
give notice to the officers of the Squash Bank. If
they pay attention to it shall offer its securi
ties in my hands for sale but in dischargng my
duty to all the creditors of the institution, shall
not proceed to offer any OF its assets in this market
until after at least sixty days notice in New York.
London and Paris, so as to ensure the largest and
best prices for the securities; and not them if in
my opinion, the ultimate interest of all concerned
will be promoted by further extension! Hem!"
But, my dear sir, how long will it he before
shall be able to realize upon my demand?"
C Can't say sir, stocks are down just now may
rise in year or two-depends somewhat upon the
fate of the in Europe. But never fear, your u-
innate security is undoubted. If you should never
get it, you will lose it, remember that Rely
upon your ultimate security, and you are SAFE"
ultimate security? want my money
swell, sir, if that's your game when you get it
please give us the information"
ATTEMPTED SUICIDE. The Charleston Standard
states that young man, from North Carolina went
into the Merchants Hotel Tuesday evening last, and
asked for pea, ink and paper, which were given
him. Shortly after he left, there was found on the
desk note addressed to the proprietor of the HOTEL
and signed by the person above mentioned. The
contents request that his body should be ia
ken to North Carolina, and delivered to certain
person therein mentioned after which he stated that
he would commit suicide before morning, either
with pistol OF by poison. Mr.: Hurst, the proprie-
tor endeavored to find of his friends, in whose
hands he placed the note, who Immediately went in