Clarksville chronicle. (Clarksville, Tenn.) 1857-1865, 1857-10-30
NUMBER 81.
-. From the Nashville Patriot. Oct 81.
BANKS AND BANISING.p


Il wednesday last, commenting unfavorably
: upon the statement Of the Planters Bank
. LOT its condition ON the 10th inst, the date
of its suspension, The object of the writer
appears to be to create the impression that
Z the Planters Bankis not in sound con.
Edition, aud suspended from necessity.-
This, whether so intended or not, does the
institution gross injustice The greatest
care should be taken in commenting upon
the condition of banking institutions, cs-
pecially at time like the present when
the slightest whisper derogatory to their
icredit affects the public mind periodically.
The communication alluded TO, after re-
citing the statement of the Bank, says:
| SIN footing up the itemAbf the Banks
immediate, liabilities, viz Ytheir promises
to pay in the shape Of bank notes, S6G6..
4 l40; due to depositors, $49S,744 7s, we
lind they make the snug little sum of one
million one hundred and sixty four thou
sand eight hundred and eighty-four dollars
and seventy+five cents: now, how is this
TO be paid? Il is now due, and the people
are asking every day at its offices for pay
ment.p st
In this show of indebtedness the writer
proceeds upon the assumption that the
whole amount named as due TO depositors
was liable to be drawn from the Bank. In
deed, he says 'it is now due and the peo-
pie are asking every day at its offices for
payment" This is all an assumptions
Four -ffths of the sum due to depositors,
We learn, belong to business men who arc
regular customers of the Bank, and arc
indebted to it to the full amount of their
| deposits. No run, has been made on this
Bank at all. The chief liability, of tho
Bank is the sum of S666, ,14O for eircula-
ton, and its cash means were sufficient to
redeem it as fast as presented; and its dis
counted notes amounting to, s1,234,6gl-
l3, constantly maturing would have furn-
ished it more thar. ample means to take UP
all other liabilities as presented, Before
| it suspended its notes. had already com-
manded premium Of 2 per cent, and
had it continued to Pay Specie, it would
have been compelled to reject the notes Of
the Bank of Tennessee. and all others, not
paying specie. This would have been op-
pressive upon the community, and is an,
additional argument in favor of the policy
of suspension. .,..f. ~. i. ~, "a,
The writer further says s,5 gs5
HAmong its assets they place the sum
of Sll4,52S "a, due from the Bank OF
Tennessee. This amount will not pay the
Bank the amount of stock transferred bg
the State tolthe Bank of Tennessee. The
stock held by the State Bank in the Plans
ters Bank amounts to 1892, 700 AS tho
Planters Bank has suspended Payments
should be placed on the same footing with
an individual, and its assets should go to
hpay its liabilities. You have already
shown that its depositors and note-holders
were not provided for--tdat their active
assets weuld not meet its DUES to deposi-
tors and note-holders, unloss they took
notes and bills or real estate, or waitlun-
/ til the Bank can collect its debts Now
how is tho Bank of Tennessee to get its
stock from one of the institutions that
only wanted con6dencer
Does not the writer know that the Bank
of Tennessee is in precisely the same po-,
sition of other stock -hoIders?-that il must
pay its debts to the Planters Bank, and,
after all other liabilities are paid, come in
for its share of the profits? If he knows
4 any thing about the subject he certainly
knows this. We are sure that the Bank
of Tennessee will not pretend to put in,
its stock as an Offset to its debt. "A,
1 But to bring this subject to close, let
us dis ,ct tie statement of the Planters
Bank, and see what its real condition was
on the 10th inst. We do SO as follows a
Due uncl aimed Dividends, SI,A49 90.
Due 10 Banks, Dt 20 ,735 81
Due Dep Osi,ors, rs-.r 4ss74iTsI b
Due V'rsu'a'on' 1i ss5o, so,lag "
Total liabilId's, ya tua sII9e,o09 g.
] To pay which the Dank has, q 4. & sta. ssw
: Cash Iicms, sGs2,395 IS -.
4 Notes Discounted, ,23467l -
Suspended deUts, 69aI7 "a guinTs4a Is
J Real Estate, 81 073 SO
DJmesllc Bills, % 9li,362 10 '9pa
I - - : ~ 4. ------------ 2.gaI, $40 %
: Surplus after paying all liabilities i,12e,470 81
). Tllis surplus Is made up OF the following Items,
, VIZ. ft f'n hAi ~
Capital 10 be distributed among @ l8
share -ho drrs, pfer all other ~ -.
! abilities have been paid 1904 OO
Surplus profits whlcb belong 10 4r If f gf
soStIi con gene es, ~ : 6ai s3ig7 90
Profits s,ncs July last, 1898 25
.faass sI.12s.4io ag