The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1859-08-24
From the Dub 10 We Herald

From the Dubuque Herald.
The State Bank Of Iowa. ...
We are somewhat surprised to learn that not
withstanding the gerry favorable report made by
the Committee appointed 70 examine into the
merits of the proposed Farmers Branch Bank
at McGregor, the board of control have in their
wisdom seen fit to reject tie application, and TO
withhold the charter.
We learn that the call for stock subscriptions
sponded to BY the solid and substantial men Of
Clayton county-and that the committee were
20 favorably impressed with the business pros.
poets Of McGregOr as also with the organisation
Of the Farmers Branch that they expressed
themselves ss4isded that the charter would bs
granted.
The committee in question was composed Of
the Hon. w. F. Co0lbaugh Of Burlington, and
Mr.. Rand Of Lyons-men in whose sound iudg-
msnt much confidence should have been placed,
yet the action of the board Of control would
seem to indicate that the committees report
was OF no weight whatever-merely matter
Of form. We have never advocated the crea.
ton OF Banks of issue-we are adverse 10 them,
and yet under existing circumstances we sin.
ceiely believe that IL there is q point in the
State where Branch Bank is needed, it Is at
McGregor-the point at which centers the
s'tradc and commerce" Of Clayton, Chickasaw,
Fayette. Winneshiek, and other counties.
We notice that the northern members Of tho
board of control were in favor of the establish
ment Of Branch at McGregor. while the mem
posed the committee, voted against the Branch
in questiou-voting however in favor of the
creation Of Branch at Fl. Madison In the south
part Of the State.
CHANGING over the list Of Branches Of the State
Bank of Iowa already established, We 6nd that
with single exception the south has every
Branch.
We believe the northern portion Of ourstats
10 40 much entitled to Branches" q the south.
srn. and - We know Clayton county 10 one Of
the best agricultural counties in the State, W
have refused toalloa charter % the Farners
Branch, especially when the committee Of q.
animation presented very favorable report
unless from the fact that the southern members
wish, 70 establish al the Branches in tie south.
ern portion Of the State.
Nearly every place worthy Of note In the
southern portion Of orr state has already bsen
favored with . Branch, and other Branches are
being admitted at each session Of the Board.
while applications from the north. although pro-
nounced unexceptiOnable BY such men - the
Hon. w. r. Coolbaugh, are rejected. Eljoying
a. We do the personal acquaintance Of many Of
the stockholders Of the proposed Farmers
Branch, and thus knowing them . BE- msa Of
character and ability-knowing also that the
north can boast Of but one Branch. while the
southern portion Of the State has over dossn
and believing - No do that il . Dssnsh b
needed in the State Of Iowa, il ID At Nc sregos.
where such vast pcopostion Of TIE business Of
our northern countics centess,. We cannot but
look upon the late action OF the board Of con.
troll a insulting 70 the dignity Of the people Of
| AnAr RAG tall ~ AkAnn nj
Clayton, Fayette, Winneshiek and Chlckasaw
counties. % much % that unless the Lsgisla.
turs thwarts the designs Of Tie men ct The south
(who seek all the favon BY naming the several
points throuahoutt entire State where branch.
es Of the State Bank Of Iowa shall b estab-
llshed,) the sooner our State Bank Law b ~.
pealed the sooner the people Of the north viii
obtain the rights which under present eircun-
stances are denied them