Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1865-12-02
NATIONAL BANKs-REMINIsCENCEs
TSNNESSEE NATIONAL BANK.

RaNRs-REMINIsCENCES-
TENNESSEE NATIONAL RANK.
A very reasonable and pleasantly writ
en- article, with the above heading, APP
,eared in our evening contemporary,
he Pablo Ledger, a few days since,
which we take pleasure in copying, as it
,alls TO mind old times and associations,
pleasant TO remember.
The names Of JAMES Penn and ED
GAR McDAvIT were for many years a
Of strength in connection with the
financial interests Of the State and III
try. The Institution with which they
were for 50 longand honorsblyconnected
has passed away. The building for
merly occupied by their old Bank is now
the Tennessee National Bank, es-
tablished under the National Banking
law. Its capital is now one hundred
thousand dollars.
It vas originated and successfully in
augurated, by GEO. R. RUTTER, Esqr, its
President, a gentleman Of indefatigable
energy, who now proposes an increase OF
capital TO the extent Of a half Million
The article which we copy from the
Ledger, so fully sets forth the reasons for
such increase as 10 render it unnecessary
for US TO add any ofoUrown. The matter
is worthy the consideration OF capitalists,
seekingsa { and profitable investments.
As such we commend it. The Ledger
remarks:
1--WE have in Memphis three National
Banks with a fourth about 10 be organ
lied, and one old bank under State au-
thority, one Savings Bank, and some six
or eight private banks, or Insurance
Companies whose charters confer bank
ing privileges. The aggregate capital
Employed in this city apprOXimates one
and q half millions Of dollars sum
entirely inadequate 10 the wants of
the CITY, with its rapidly increas-
ing business and population. Be
fore the war Memphis stood third
on the list in point Of importance
In the cotton trade. She then enjoyed
the banking facilities afforded by the
State Bank of Tennessee, the Planters
Bank and the Union Bank, as home in
sritutions. also using largely of the issues
Of the banks OF Louisiana, Alabama,
Georgia, South Caroliua and Kentucky.
Now that the great majority Of these
issues have become uncUrrent or with
drawn from circulation, United States
Treasury and National Bank notes have
taken their place, atiOrding 10 the people
a safe and entirely reliablecUrrency-0ne
that may be as confidently relied upon as
the stability Of our government itself.
n H. - I'll IHawrwww-nn# fn mo
viding for the establishment Of National
Banks is mainly 70 secure to the people
legitimate business facilities in the cen
tres Of trade and commerce through
out the country, and incidentally TO pop
ularize Government securities with the
great masses. The banks, by receiving
the interest on their Government stocks,
which forms their capital, and which
stand pledged for their liabilities, can
well afford 10 loan their issues at legal
interest to foster the business and COM
mercial interests Of the country. This
fact atsc removes all reason for spec
ulatiOn and outside operations, of which,
under the old system of things, banks
were often charged. Under the National
system the Government takes upon itself
certain supervisory authority which,
with almost positive certainty, ensures
faithful and legitimate management ac-
copding 10 the intent and meaning of
the law under which banks are organ
lied. The three banks existing here,
with the fourth about to be organized,
do not afford US the necessary facil-
tiles required at this point, hence,
without the safe and profitable basis,
and UuaraUees underlying and sur
rounding the National Banks, our
private bankers are doing a large and
profitable business. All this speaks well
for our growing city, and for the in
stitutions referred 10, which are in the
hands Of men Of experience and well
established integrity. The First Ma
fional Bank occupies the building for
merly occupied by the Union Bank,
Madison street; the Merchants Ma
fionsl is on Jefferson street, building
formerly occupied by the Bank Of
West Tennessee; the Tennessee Ma
tional OCCUPIES the old Planters Bank
building, corner Of Main and jefferson
streets one of the most noticeable struc-
lures in the city, built expressly for and
most admirably adapted to the purposes
for which IL Is used. The location is a
landmark in the city, familiar alike to
planter and merchant throughout the en-
lire region Of country having business
connections with Memphis. In " old
times" the visitor would meet the famil-
face OF that noble old Roman, Ma.
Penn. who. for a generation or longer, as
Cashier, presided W. the prosperous for
tuues of the Planters: with one as Pres
ident even more widely known, and as
highly honored as an officer, merchant
and citizen, whom In this connection il
were scarcely necessary for US 10 name,
that Of Edgar McDavit viii readily
arise 70 the mind Of the reader.
. The last check the writer
hereof presented at the counter Of the
% old Planters land il was for no sar-
dine amount The was most respectfully
inquired Of how he would like 10 have It
fIn COIN or notes? That was in cold
tines remember
But farewell to the odd Planters"
and its retired and distinguished officers.
II had grown venerable in years, and Oc-
,upied a most enviable reputation among
he best banking institutions Of its day.
But g new era has dawned upon US. The
emple wherein it dwelt is occupied
~ a young and vigorous candidate
or the honors and emOluments that
we're 30 literally showered upon il.
Of the venerable forms and kindly
aces Of the old President and Cashier,
younger men are fOund-yOunger IN
years, but endowed with an experience,
courtesy and integrity that were the dis
inguished characteristics Of their pre-
iecessors IN the old temple. We refer 10
r. Rutter, Esq, President; and
B. Brisben, Cashier Of the Tennessee
National Bank. This bank was the
ecOud Of the National Banks organized
- AH~Hawhfa NHE- afran- g. - Ill =. Al. j
ands Of q few controlling spirits. but has
cen sought by the small capitalist and
hose desiring safe investment for their
It's Board Of Directors Is COM
osed Of good men and true,n selected
" their high character as men Of busi-
ess aud moral worth. An institution
hose capital is so well founded, Is so
Differed and governed, has a future
efore 1t that is pleasing 10 contemplate.
Whilst 10 viii aid 20 build up the real,
ubstsntial interests Of the city, il viii
arm Tor Itself a character, and for it,
DocAholders dividends, enviable and sat
alaeuoTy. 30 mote il be.
The Ledger has omitted. in the fore-
Ding, one Of the chief notabIities of the
Id Planters Bank-who. however i
OF Of those who have " passed av,av - ,
ut is stil among US in vigorous In-ty ,
fe, employing al Of yore in Memrbis .
Is superior business qualities. Weanude
our old friend, SANDY SHEPHERD. the
Teller Of the Planters, who is en-
aged in settling up the business Of the
Branch.
FRANCE AND MExIco.-The Washing
correspondent Of the Philadelphia
states Count Monthalon has reit-
ated within the past few days, what
Drouyn de L'Huys expressed 10 Air'
syton two years ago, in regard to
,ench Intervention and occupancy in
exico. The substance Of this is that
hen Louis Napoleon is assured that our
.utrslity viii continue, all the French
Dops In Mexico, save the foreign legion
5000 (Which was stipulated to emainO
III be Withdrawn. The position Of
rance IS. therefore, precisely what it