The Washington union., 1857-04-17
DEPA TMENT NEWS.
STATE DEPARTMENT.

Frankfort Baaks.Thc following communication, dated
at Frankfort, March 10, 1851, gives interesting
count of banking in that place
''The annual meeting of the stockholders of the Frank
fort Bank took place yesterday Great expectations had
been entertained to results of this meeting Although
it had been cited model institution, it known
that the directors would propose various amendments of
its charter especially to the paragraph which requires
20 cent OF net revenue to be deposited as reserve
fund and also of that which limits the issue of small
notes Is forms and 10 orns) to the amount of 500 900
forms And it further said that propositions the
part of several shareholders to be brought forward
concerning the establishment of branches and in favor of
greater libeality in granting advances But all these
expectations disappointed proposition to modify
the charter cannot be entertained unless half the amount of
all the shares represented and the number represented
at the meeting yesterday was only 4OO0 the fifth of
the total number OF shareholders of 20 900 shares The
propositions OF the directors have, consequently been
postponed to future meeting and those moved by the
stockholders merely submitted The directors sta
ted the establishment of agencies already in the way
of execution; but necessary to act with great pru
dencc for fear of awakening the attention of foreign gov
ernmcnts, and bringing out prohbitoy against
the circulation of Frankfort banknotes after the example
given by Bavaria.
1t may be of interest to the essential facts
cenng the business of the Frankfort Bank during the
last year the whole transactions OF the establishment
amounted to S37 millions of hornsabout .}37 millions
than in 1855 the discounts extended to q, 3l4
bills at average interest Of $40 per cent The loans
amounted to tile of 90 millions Of horns; the inter-
est earned on same l4S 900 forms or about 40
per cent OF the capital employed The operations in
bills foreign places embraced 90 900 900 and tho
ngs sS 900 orins The business with foreign bankers
ls, 900, 900 forms the earnings 40 900 orins The
dcposites amounted to 1000 000 the expense of the
Bank notes, &c. amounted to $4,000 horins the
penses of the administration to A, 900 iorins.
1.-The total amount of earnings 400 900 forins ;
the net revenue, 1872 900 FORMS nearly per cent
the capital Out of this amount 25 per cent is taken for
the reserre fund the remainder say 324 900 horns is
ted asa n he VIII
gives l6i forms for share of 500 orins This dividend
represents for share at an interest of u cent
but at the actual price OF 10 per cent less than per
cent This result has not been found satisfactory by the
stockholders, and quotations, which few months ago
20, and at the beginning of this month H. have
reccded to no. 1t may be mentioned however that the
small amount of dividend ascbed by the directors in
their report to the sacrifices the bank constrained to
make in obtaining specie during the monetary crisis of the
past year.
'sI have entered into these particulars because the
Frankfort Bank is considered of the bestconducted
stock institutions in Germany, and also to show that
with the most sful management banking is far less
profitable here than in the United States but it is un
doubedly more sure and cautious. There is saying
about the Frankfort Bank which appears to be very
rect, in that 1t is good institution for lodging but not
for boardngtat u.s. that it Is good to sleep by but not
to eat by or in other words it is safe and but not
profitable Those interested in it may sleep sure, but
their income will be small in proportion
Wreck Information has been received from the United
States consul general in Cuba, \. X Blythe esq, of the
loss the goth inst of the American schooner Trav
clle of New Haven, Charles Post master which sailed
from Mobile on the ith ult, with lumber, provisions
and naval stores, bound to Truiillo in Honduras. The
vessel was wrecked the Galea reef the northwest
coast of Cuba The master, crew. and two passengers
en persons in aD succeeded after great difficulty in
landing upon desolate place. the next day they
taken by the Spanish coastng schooner ".Ccn Concha
commanded by Don Clcmente Acosa, master and landed
after passage of seven days Batabano whence they
subsequently arrived in Havana.
Information has also been received, under date of
March 18TH from l.. b. Narache the United States con-
sui at Port OF Spain in the island of Trinidad that the
export duty the produce OF the island abolished
on the LIST of January last