, 1864-10-04

The Solvent Baulks to bo Auss~lned-
Confidence uf the Board In them

i 1HE Backs AND RIG BOARD OF
The solvent Banks to bo sustained
Confidence vi the Board In them
At the sesson on Change yesterday noon, Col.
r. ii. Hough offered the following:
Rstoite1. Tbat for the present we will receive
| certified checke Of fpTent banks for all traussc.
H. ns Of u is Board, snn tca: the hsnk.,s be re-
uuested to oeatRt ate such certified checks AZ they
viii 1tcefre OIL deposit.
In Offering the re. olu.on M,. Housh stated TIM,
own to the recent bank failures 10 this city there
was 4 disposition on The part Of some persons to
create run on the vsrloo ban&s Of tbs cltY. The
!. ading banks Of lhe ctsy etse so1nd thsy have
asseis enough to Fay I'll liabilities bat in otdsr 10
do OF tall, eene u thr 1-Fets wouId have to BE-
copse1teu at q ssczince. He hoped knat the Board
~sud euttain the ha,ke. and put down Any st-
tempt 10 G. cate phu1c.
On it, own btttam. Tbs hanks hAfe be+n Advanc-
ought 20 lock out for Themselves He raid -oms-
tn1Ds ahone Rreebb.cks, hut owing TO the conf7-
floE our repulter rou not catch Ills ms,ufny.
]. e. Dore RAID thar The Ch4rter Of the Savings
Bapxs reqtlted depos'to.s 70 give 30 days uo.ice
| before fhey could draw their money. He Thought
tbat Tue onttnea' Leu oaght tn protect themselves
b{ compelling these banks to act accoEdir9to tneir
Col Houeh sisted bis ra.oIpt1on provided for
thir, Il the ncnbers would consent to take eerda-
Cd chsche.
| Gtorgs Watson urged tho prop.,ety Of sustaining
n1l the baDkr which solvent. Owing to the fear
OF panic, wheat had declined twehty dTe cents
resolution Of the Board could compel the mem.
herst 10 to take Anything In payment but legs1
tender.
Col. uougb said that It WAS not binding on the
individual members Of the Board. Il wss only an
exEreefion OF confidence in the banks.
The uoeatIon was then called for, atd the reso.
1-t$< al .n1fr tNHrn 1r r$Ny tnI
j c. Dure offered the following:
Reso.ced That 1t IL the sense OF the Board. that
IN case OF p:nie re Say!sR;, lnst,tutons 10 SOL
ehartered rights as to requiring notice Of With
In offering the 1eso:n' Ion NJ. Dore said the sav.
1eit In ihetr vaults, when they cora ratt back on
tbeir c1arter, aud reiaee 10 pay uuttl tue proper
Of eSs,su,nT % he e bspts It Was ebs w. owed % to
NJ. stea1n said they had specialized in whisky
MI Watson ~ aean 1fRea n ID: propfiety Of sustain.
irg tbe baLks. He had tuld bis banker he souId
ptt draw on him. The resolution Of tbs Board
The bake responded willingly to tue demhnd
made ty the Beard for an uultotm currency, aud
!he Board ought row come to the assistance Of ths
On motion Nj. Dore's resolution was adopted.
-, co1: Mouth then moved vote Of confidence in
the leaaine hanks OF The city.
vate bankers be requeete pa"ltsa ~osa ssste-
mens y theis essss and n.b,titles. a. Il done 6y
certified checks on Tom, Dick or Hurry, unteas hs
hud some recnrity for their solyency.
banaets % would moi @ rteon@end @ spy inss,tnuon thst
III. sy.es' substitnte VA leid on he table and
Board adjourned.
Old L1diess Homo.
rk Urn~ II Z -ttb -
on the east eide of Indiana avenue, half hlocx
so1th OF @6sh Street, on Thursday afternoon. at
o'clock.
Western marluc end Fire Insurance
company.
CARD FROM 1Ts PRESIDENT
Editors Chicago Tribute: I wish to say to the
Deposltors Of the Western Mlrlne aad Fire lnsu.
Ill practical copn=cllon with the Ins1itut,on ono
year seo last May. ard was absent trom tue city
1noe. Of the time from then until about the 1r,t Of
Directors ano priucpsl Stockholders urged ,ua re-
peatedsy to ssRs charge Of the afaIss OF the B4uk
- its tresidenr, which steadily dec.foed to do
rsc,ots in Ja,y last, wnsn . statement Of The
hankss condition was exhibited to the Directors
bp pK 1T: o lac sssss sd as psk ase sa
en's 81 eouId coldi'lon. Upon this f4sorah1e
showing. and the yery eaIuest solicitation OF the
Directors, 1tclading ME. Waite, reluctantly as.
and eIteted 9on the duty tie Ia ter part Of jay;
aud her. let e eay, that since then there has not
been dollar lost TO The Bank BY loans or advances
way: bot OIL the contrary, there has been addict to
it, cash means, By the sale q resi- estate, more
ssrs s1 say y.s. .; N A Wnsa sSa
credit Of rome seventy thoueand dollars, against
whlrh We checked, mixing remlttances at the
e9t e9Is Ts from fea 9ay IT,. t. day. for S or
spee falling somexh't below that am,eat,
We were informed that our acconas wAs
oSctdtaTn: Tn; % %cte..ly snrptised ne: and
adjust be account more readily. but coati1tned to
remit until the ore1draft WAS 1utly paid, sup
toted. In this. however. wasmlatakeo, for with
over S!50D bad been made IN our favor, and one
account WRs oEErdrawp more than $a500o making
a.diecrtpancy Of some s7o go in on account THIS
qn1rs va. maoo Of patties IN the city, '.Wnat IS
the matter xiih the We.tern Marine and Fire Insu-
1aIce Company, aceonnt lasgsly oyerdra~g:'
ard FTida~, caueed dsposttors to draw thelr bal
aEces, forcsn. the BaLk to close.
But Tor the alarm among our dcposstors, l have
n,usl until this discrepancy could have been az
tutted and the dadctt made Kosd by the delinquent
parties. 1t msy in part ha!e os1ctsased in errone
Saa entries ny or New York correspondent, which
The accounts current have not been examined
years. We Ire row having TIC accounts thor
oughly examined, bnt the process i necessarily
| slow ard teolons. With this deficit made good,
a. trust and bste.c It will be, have but little
| doubt, II monetar3 affairs become settled aud
eteaoy eoor, the &aseta OF the bank will os e7tl-
cisat TO pay The depositors In tull though i, WIN
necessarily take Home time 10 convert them ali In
| to cash. This deilY will work great hardship In
Epany eases, and no one caa regret It more than do
| The officers Of tbs Bank, who will 10 all III their
power to give relief AZ eoon a. possibla.
And as moue Of relief, to some extent It la pro-
posed 10 form banktns association ct responsible
PARTIES with capital Of S1D0,000 to b. enlarged
location ofthe Western Marine and Fire Insurance
Company as soon A. possible. and grant accommo-
dadcns 10 such as det1re upon their deposits with
the Western Msrine aud FIRE Ius1rAude Company,
until they msy he abe to realize upon them.
with to sdd tpat l car cheerfaliy and fully c1-
oEerate fhe late President, Frederick Tu,te, Esq,
from apy connection With or knowledge Of any
alus1on has been made and. further. to Assure
the public and all interested, that neither the
Preeidept. Secretary, nor any Of the Directors had
.nl knowledge thar deposlt belonging. to the
Volunteer Fund had been received at the bang uu-
til after the businels had been closed aud the AZ.
e,gnment concluded. The mottcr has been salts.
factotil7 arranged and the fund made GOOD.
J.H. WoonWoRTH.