The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1857-09-12

automatically, Of its entire soundness and re-
liability.
FoRT PLAIN BANK,
Fort Plain, Sept. !, 1857.
Editor Mohawk Valley Register:
SRA rumor prejudcial to the credit OF
this institution, having found its way into
the papers, will you do us the favor to pub
lish the following statement:
The capital OF this Bank is $4,000, ev-
cry dollar Of which has long since been paid
in. 1t has, for the past six or seven wears,
paid u regular scmi-annual dividend Of FIVE
per cent, from the nett profits of its bust.
ness, one extra dividend Of fifteen per cent,
and has. besides this, accumulated surplus
OF $4,000. Its principal stockholders are
among the most wealthy, prudent and sub
stantial men in this community--very few Of
them having occasion to borrow Of its funds,
and a cautious Board of Directors at oil
times exercise n careful supervision over the
administration Of the affairs Of the Bank
lls stock is very seldom offered for sale and
am not aware that single share OF it
could at this time be purchased at less than
premium OF 30 per cent, or even at that
price.
Our means of discount are, of course, the
capital, surplus fund, and deposits. The
capital and surplus united, rs will be seen
above, is Sl69 600, which amount could of
course be loaned without drawing upon the
deposits at all; and yet our loans and dis.
counts are at this time but SI52,000, or
$llf ,Oo0less than our o,on means. And these
lonns and discounts are all of character
strictly legitimate--on class OF paper upon
which this institution has not lost a siraale
dollar during the past six years. Nor has
the Bank ut prese 1 single dollar in suit
or more than one small note of $500 under
protest. And this is amply secured, and will
W re paid.
The whole amount Of registered Bank
notes received from the Bank department, ID
Sl27 ,5i5 while the securities for the same
deposited with the department, amount to
&l2g,6l6. These securities consist OF State
stocks 1896 400, and bonds and mortgage.
$34,2lG-the former commanding premi.
um which make them worth at least ST. 90 900
though bills have been received for them al
their par value only. 1t will be seen tina,
the securities exceed the amount Of bills re.
ceived upon them, by $2,04l. And, a. tn,
present amount Of bills which the Bank has
] IN actual circulation 10 only $3.50 the
bill-holder has margin Of over $l4 ,O0O.--
1t will be seen also that large portion OF
the means Of the Bank is cash upon which
no bills have been issued--that is, the CAPT.
tai and surplus united, exceed the whole
amount of its bills, by $4l ,425, and thu
amount OF bills actually in circult ton, by
So4 900. As the Bank has not lost a sing \
dollar, and does not, to my knowledge, hold
asingle doubtful note or security, neither The
hlli-holder nor depositor could lose a penny
even In the strange event OF it's failure.
The truth is, the affairs Of this institution
have never been in sounder or heal,hle,
condition than At this moment. The ruloo,
tending temporarily to affect it's credit, il
not the result of jokes perpetrated in refer.
I ence 70 the Improvements now in progress.
in and about the Banking House (for in.
stance, that the "Bank is going up''--iter.
ally gong up an additional story with brick
and mortar is the gratuitous invention oil
some sneaking, malicious scoundrel, whose
envy, or private pique, perhaps, would
prompt him to any act however base. A,
the very moment when the flaming Extra,
was issuing from No. 81 Beekman street
New York, conveying the panic exciting ia.
teiligence into every nook and corner OF the
i city, and thence on the wires through ths
State, that the bills Of this Bank, with sew.
were refused by the Brokers. our books
showed balance in our favor, nj our re.
deeming agencies in New York and ALBANY,
OF over $4,000, while our indebtedness "a
other Banks, did not exceed the amount due
US from still others. This fact alone would
convince any cool and sensible man, that q
rumot OF such character, aud especially d,
such time, must be gratnitous pioce OF
wiokedness, or laundering, on the part OF
the reporter, or person promulgating ill.,
Such It was, indeed, M l distinctly affirm,
that there has not been even the slightest
.rregularity, either in the details or avgre.
gate OF It's business operations, which could
Justify the damaging report. rcpeat-the
institution has At no time sinee its orgnnixa-
ton been in sounder or more prosperous
condition than on the dav the rumor was
started
Our immediate neighbors and daily Gus.
toners, whose fullest confidence We kno,r
We continue TO deserve and enjoy, do no, re-
aaire this explanation. We make the state
ment merely to show with how much ius
tice ne are made tho victim OF this petty
annoyance, and TO show to al who may see
THIS communication, how much confidence
may be placed in panic fostering dispatches
and hand-bills. Parties interested NAV be
assured that We shall promptly meet nil
proper demands upon US, az usual.
ID. F. YOUNG,
Cashier.
" French writer is represented a.