The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1866-01-09
Notice.
ELEor1oNs AT TIM BAl.iIs AND OTHER


INSTITUTIONS Northumberland or
THE sToCKHoIDERs OF THE n. u ~.
BANK YEsTKRDAy.-All the national,
banks of the city VIII hold their annual
elections to-day for directors, as per
notices published elsewhere In our coll
umns. The Wheeling q Belmont
Bridge Company, and the Wheeling
Gymnasium Association viii also hold
similar elections, the latter this even
ing. e ~
Yesterday the following named gem
tleman were elected directors of the
franklin Insurance Company for the
ensuing year; eZ3i'
s. Mcclellan, Geo. Mendel, II. n. Lo-
gan, G.. W. Franzheim, Thos. p. Shall
cross, Alex. Laughlin, J. n. Vance, j.
S. Rhodes and VIM. y. Houston rtnr
It's understood the Franklin have
declared a dividend of per cent. on
its capital stock, although we have
seen no authorized announcement to
that effect. q ~
The stockholders of the Merchants a.
Mechanics Bank held their last annual
meeting Yesterday. The bank Is now
formally merged into the national sys-
tenn by the action of the directors.
The resolutions TO that effect we
give below. Previous 10 their read
Ing and adoption tho President and
Cashier submitted their customary re-
port OF the business of the bank and Its
branches during the last year. The
figures, ms connected with the transfer,
were OF course listened to with more
than ordinary interest We need only
sayJthnt they were prepared with all the
explicitness characteristic Of tho man
agsment of this institution. .uut
The net earnings of the bank here
during the last six months were $6S,
OBS. d, which is IL per cent. upon Its
capital of $3.50. 900. The Point Pleasant
branch earned, net; -, d5S.19, or 3 42-lOo
al Morgnntown earned, net, s., 542.2 or
7.76-IO6 on its capital of $4,000. The
Clarlsburg branch earned, net, SILL
2OO.I7, or I4.21-100 per cent. on its capi-
tai OF S79, 400.
The average earnings of the bank and
all It's branches, as above enumerated,
were, net, S9I, $3.50, making II total of
1U.g3-IO0 per cent. on the aggregate cap
iLal of 1896, 600.
Amer declaring n dividend of per
cent. the bank carries S34, 1880 10 Its
contingent fund, making total con-
tingent E1nd, exclusive of what the
brinches have earned rs National in
: stitntiOlis since October last, of S2Oi,-
63G.OS. ~
Tho total deposits of the mother bank
here, including such as are credited to
the Merchants National bank, nre one
million, two hundred and forty-hve
thousand dollars. i5-l'
The resolutions above referred to, as
adopted by the directors yesterday, are
ms follows:
.iResoIVed, That IL is expedient to
transfer the business of this bank to
the Merchants National Bank of West
Virginia as rapidly MS convenient.
ResOiUed, That the distribution of the
stock held by this bank in the Mef-
chants National Bank ofWest Virginia,
at Wheeling, AIorgantOwn,P t Pleasant,
and Clarksburg, be confidcd to the
directors OF this bank, who may, II
they deem II expedient, convene the
stockholders In general meeting for the
purpose OF considering any proposed
plan for distributing the stocks before
named.
Rcsoised, That il is expedient to close
the offices of the several branches as
rapidly us possible, and that ns nmeans
to that end the directors of the several
branches be continued in office with
directions TO place in the hands OF the
directors OF the mother bhnk, as early
us mny be convenient, such sum as
may be adequate TO the discharge or ex-
isung liabilities; and also any remain-
der OF funds or assets after making the
provision before mentioned.
Resolved, That the directors of the
Bank at Wheeling DO and iire hereby
continued in office for the purpose Of
carrying into effect the foregoing reso-
lutions, aud TO manage generally the
nfTnirs OF the bank 8lpIit
It was explained to the Stockholders
during the meetingth nt each stockhold-
or In the Merchants & Mechanics Bapk
would receive corresponding shnres in
the Merchants National Bank, and DO
entitled of course to his or her rRtable
share in the Rssets ofthe former after
its affairs shnll be wound up. 5iat,,,
tTun "DRuooRATIcp CONVERSIONS