Pomeroy weekly telegraph. [volume] (Pomeroy, Meigs County, Ohio) 1860-1866, 1862-07-04

afford every explanation in my power.
l have the honor, &c, &C.,
w. NEWTON MERCER,
President pro tenn.
Maj. Gen. BUTLER, u. S. A., &c.
NoTE--Gf the capital Of stock of the
bank-29, 900 shares-the directors own
about tenth. Te the bank they
owe nothing.
RESOLUTIONS OF THE DIRECTORS.
BANK OF LOUISIANA,
May Fl, 1862.
As this bank is unable to comply
with the conditions and act uader the
restrictions imposed upon it by Order
No. 30, issued by Gen. Butler, and as
imputations have been cast upon the
conduct and characters of its directors,
Therefore, Resolved, unanimously,
That Gen. Butler be invited to appoint
some competent person, in whom he
has confidence, to examine thoroughly
the condition of this bank since its
suspension of specie payment, as well as
the action of its directors since the 1st
day of September last.
That the cashier be instructed to give
to Gen. Buffers agent, if one be ap
pointed, every facility for>such an ex-
animation of all its books, papers, vaults,
desks and drawers, and to afford him
every information touching the admin
istratiens of this bank during the pc
riod already mentioned together with
an inspection Of the private accounts of
the directors.
That; in the meantime, till General
Buffers final determination be ascer
tanned, the operations of the bank must
necessarily be suspended, as it has in
It's own possession none of its own issue
and only very small amount of coin.
certify that the action above men
toned was had this morning by the
Bank of Louisiana.
w. NEWTON MERCER,
President pro tenn.
NEW ORLEANS, May 81, 1862.
To this letter and the resolution Gen.
Butler answered as follows:
HEADQUARTERS Dept OF THE GULF,
NEW ORLEANS May 81, 1852 (
W. NEWTON MERGER, ESQ, President
of the Bank of Louisiana:
| SIR:-I have received your cemmu-
nication covering the unanimous action
of the directors of the Bank of Louis
lana. To their request that l would
| appoint commission to examine the
affairs of the bank / cannot accede.-
| With the Encouragement or the con-
4 trary of the bank | have nothing to do,
except so far as either effects the inter-
est of the United States.
The assigned reason for the call for
this examination, that "the integrity
and good faith of the directors have
been impeached," will not move me.
if you refer to General Order No. 80,
which speaks of acts and facts, not mo-
ttiyes.
/ Your note says that the directors OWE
but one-tenth Of the capital stock o1
the bank. Without consulting the
owners of the other ine-tenths-nearly
three millions of dollars rs-this one-tenth
took this immense wealth from its legal
place Of. deposit, flying over the coun.
try in company with fugitive property
burners, among the masses of a disor-
ganized, retreating and starving army
whence it. is more than likely never te
return. Again the time it would take
to make an investigation, which would
show the good management, to say
nothing of the purity of motive of such
transaction, cannot be spared by any
officer of my command, E:runo .dise,
0nones.
The directors of the Bank of Louis
lana have all seen General Order No
I 80, and have acted upon it as a eorpe
ration. So your note shows.
They will now advise themselve
whether they will act in accordance
with its requirements upon their cor
!. porate and individual peril, and inform
me within six hours after the receipt o
this, of their determination. l hav
the honor to be, respectfully, your ODE
,, dient servant. b. f. BUTLER.
The frmness and decision of tn
above epistle settled the matter befor
! you could say "Jack Robinson an
drew out the following answer from th
President pro tenn:
Il "BANK OF LOUISIANA,
II NEW ORLEANS, May %.
81 "To Major General B. =. Butler, com
: manding Department. of the Gulf:
t "S1R:-I have received your commu
E nication of this day, in answer to IN
: letter accompanying the proceedings {
the directors of this bank.
aThe Board of Directors were immt
: diately summoned to a special meeting
! and as you leave no alternative bt
compliance with your mandate, the
Twill conform to Order No. 80.
Respectfully your obed' servant,
"W. NEWTON MERCIER,
= President pro tene.'
In dealing with this most ..delicat
land difficult question of the currenc.
General Butler has had the CO operatio
$ and advice of the venerable and almo
8 universally known fnaaeier, Jacob Ba
d ker. ...
b WA An exchange in a aleading westel
city, announces that-s'FuH evenir
/? dress is white cravat.' This is sti
more airy than the Georgia costum
e which is said to be shirt collar and
pair of spurs,