The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1858-03-12

|
from the organization of the Bank IN to
| July, 1s49, she had paid for the use of
| schools and academies ........,,., 900 mn n
Also interest on State debt Il ,877 500 20 ''''
Interest on State debt which
| accrued from LIST July, 1s49,
| to 9TH Feb, 1880 and which
should have been charged to
| the account OF interest on
| State debt instead Of Treasu-
| ry, as stated by the report OF
| the Bank OF 1901 g4,62S rs
Total amount of interest on State debt
paid by the Bank. Observation-Disclosures. 1472 157 O.
The same table shows that the Bank paid --''' "
appropriations for improvement drivers Gs375 G.
Total payments by the Bank from its orr.
gin to lst January 1858. $50 522 5s
| PROFITS OF THE BANK.
Table shows that the aggregate profits Of the Bapt
from It's origin to January l, 1885, Is 266 0ss Ia
And that, within the same period she has
| reduced her capital by the loss Of bad
debts, &C., ......................... 7s1, O74 %
ss,oO5,Ols 81
ceived upon the Union and Planters
Bank stock, amounting to ........... 1864 10
Which taken from the profit leaves as the
result OF the operations OF the Bank of
tennessee for nineteen and half years,
neat prsht or .................... 1855 600 II
Table "a" also shows the rate per cent. per
annun. ranging from 6S.lOO to Is per cent.
which the Bank has made upon her capital.
IT is proper, however, to remark, that the
calculations which produced this result are
based upon what is termed actual capital"
aud not upon the amount of money actually
paid into the Bank as capital. This table
shows that the actual capital" of the Bank
has for several years been fluctuating, being
diminished by the failure of their debtors
and increased by the collection of debts
which had been charged off as lost,
As it seems to be the object of the House
OF Representatives to ascertain to what ex-
tent the funds of the State have been profita.
bly, invested In the bSsiness of banking, and
whether or not it would be good policy for
the State to borrow money at six per cent
per annum, payable at New York semi annu.
ally to increase her banking capital, have
made an accurate calculation Of the simple
interest upon each item of the cash capital of
the Bank of Tennessee from the date IL was
paid in, as shown by table 'B," up to the LIST
OF January 1868, excluding the stock in the
Union and Planters Bank from this interest
calculation. and find that if the same fund,
had been invested in State bonds, bearing nm
interest OF six per cent. per annum, it would
have yielded profit of $4,000, 1873 90
While the same funds used in
banking have yielded, as shown
above, a n,n profit of only 1855, 600 II
Showing that at SIX per cent. the
fund would have ielded 25O.4ss 20
more profit to the State than the Bank has
made upon it.
that of tha amompt ~ e. a"oh .han
will be found in the fact that the in Investment
mora sofa oIr; Nv oe'u,'ee 10 puch
or los If ,ha ,';..5 s, vss.y ,ess uanger
wh;le IL IL Lap ua'a, ves'eu' anu .ne Prohts'
which The Sta,e an coIania,A o anu oersala'
To- rsiv 49, 80 =. Siui"'e anu connueht'
no ard Io.n g. S"a sne ~nole operation Is sim
sasv of ,noDo ~ ~o sne e.,;.; anu equally
nronor,;nn 81 H. ~; 'eq1''ns very shaii
Comntroiier nv Trsaau o anu a';ention OF the
ooe,nent u;thon. ;na,nu; .or Tvs en.lre man.
nsemen', w.nout mourning the expense OF
tahi.hg up 'n ma % nae o. banking es-
nal canitsl nv fslnrs. SsfaIoa a'sns ;ns 9rgi
Tha .to,oro,. ~
a. .hon" ", w. Eli. 'ne Prohts OF tne BANK
nos;,;or Ky. aIn eo 90, on S"s a on the sup
ant moana ~ .ho PoL .o' % Vi he pres
nor, 81 th. ~. 80 las s"own ny .ne re-
Of discounted not.s A h,m. iooS, CONSISTING n
and nots. ~ . I S.. o'S VI eAehange' oiils
sneo;a H. aso oonus. rea, estate
rsoI;zad and ~. ~ Pa' ,A.ae anu wiz oe
sus,o;noS W .ne eN'ene .hat iosses are
means ;Dto ~ o uo,.o. LII 1r conser'lng those
be rad,asd ''' "'' '"0 Pron'' aS sho"h'
IN tha IT,. 90 r ,o.o
been in onan. ~ n;uay iooo, 'n1 pnhk had
and The am"~Ut n' ~ aea, anu Aa'' years
nroves tha a" "hn y, Pionss SHOWN ABOVE,
Cent nsr annn s nae ,s.itea less thah SIX per
which shs raoan Upon Wa sre aetua' eash capital
If an exnor;,"as, -, mnn .n,s, ss .ne result
IN the hns;nsas ~ ~. ".ae.een aaa nan years
10 ' H. BUSINESS o. banking, is good policy
tsrest Of s;v W. w oo,,ow money paying an IN
oiiv i, NJ Per cen:. PER annum' semi.annu'
cant 90 -. I'm WIN eAenange' say one per
csn;toiS Is ,h nopey 70 'uerease our oanRing
s;v No. e Dana mas 'a.eu 10 resiize
90 Per GENT upon her capital heretofore.