Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1861-03-09
Rank of Tennn..ee.

At the meeting Of the Board Of Directors Of the
Bank Of Tennessee Thursday, Gen. O. p. SMITH. the
President of that Institution, resigned his oice
We may here state that Gen. SmTrs desired to re-
sign nearly two months ago. but the Board refused
to accept his resignation. The following is his let
ter of resignation:
BAEx TEzxEsszn. Kashvilis, March
To TIE Board Of Directors fthe Bank OF Tennesss -
Gentlemen: Having been hsnored with yourselves
In the appointment Director in the Bank If Ten
nessee, and by your Partially selected to preside
over your deliberations, how have discharged the
trust connded to me is known to yourselves. Many
tnere are who might have been selected possessing
mere AFFINITY and sagacity, but think you will all
bear testimony to the zeal and fidelity with which
have endeavored TO discharge the important du-
tes assigned me. Our administration has
been a most embarrassing one. growing ont
OF the failure of the crops and the political disturb
ances OF the times the latter not only having agi-
tated the government to its very centre. bat abscs
lutely resulted in its dismemberment and the Fede-
raj Treasury, 18th all ita heretofore high character
Tor promptness, is now bankrupt. | advert TO
these circumstances with view Of showing that no
human foresight could prevent the extraordinary
pressure in financial matters here, which resulted
IN the suspension Of specie payments by all the
principal Banks in this State. regret retiring from
the lead Of the institution while tins is the case
but as the General Assembly in extraordinary session
has legalized suspension to q period beyond our
term Of service, cannot hope, were to continue
in my present position to look forward to resump-
ton of specie payment. l. therefore, tender NV
resignation as Director and President of the Bank Of
Tennessee to take effect on and after Thursday. the
9Th day of April next.
Respectfully, G. P. SMITH.
The resignation was accepted and the following
resolutions were unanimously adopted by the Board:
WHEkEAs, We have been advised that Gen.
G. p. SMITH intends to retire from the Presidency
of this Bank at an early day; and whereas we are
unwilling he Should do so without this Board Of
Directors giving some testimonial of their hirh
appreciation of his qualities as a gentleman and as
the presiding officer Of this Bank; therefore,
heSotUed, That 1t 10 with sincere regret we re-
celye the resignation Of Gen. Smith.
RESOLVED, That we cordially endorse and fully |
appreciate the able and careful manner President
smith has managed the business Of the Bank
RESOLVED, That this Board tender to the retiring
President their thanks for his many courtesies in
the past, and their best wishes for his success in
the future. |
ResOlUsd, That this preamble and these resolutions
be spread upon the minutes of the Board.
These resolutions do no more than Justice to the
the energy and tact with which Gen. SMITH has |
managed the affairs of the Bank of Tennessee. |
Gen. S. Z. ANDERSON was elected by the Board. by |
unanimous vote, to succeed Gen. SMITH, selection
that will prove highly acceptable to all who have
business with the Bank.
Gen. SMITH was then elected a Director. and has
consented to serve in that capacity.
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