The Nashville daily union. [volume] (Nashville, Tenn.) 1862-1866, 1866-01-31
MORE ABOUT THE BANK OF
TENNESSEE.
Important Letter from Mr.. Claiborne.
Circulation and Capital ofthe Bank.

Circulation and Capital Of the Bank
The following, from the Special Banl
Committee, was read in the House Of Repre-
ssntstives yesterday:
NASHVILLE, %JaDuary %, Is66.-Mr. Jos.
". Allen and Henry 1. Claiborne, EsQs.-
Gents / have the honor 70 request that you
will give q correct statement Of the amount
Of the outstanding circulation Of the Bank
| Of Tennessee, designating how much Of il
has been issued since the 9th Of May, 1861,
Of its capital stock, and Of what il consists,
and also what amounts were paid into the
State Treasury as profits Of the bank.
make this request at the instance Of the
Hon. Samuel J. Carter, a member Of the
Committee on Banks.
Respectfully, J.. r. HoOD,
Chairman Committee on Banks.
NASHVILLE, Jan. Goth, Is66-Hon. J. r.
Hood, Chairman Of Committee on Banks
Dear Sir: On the receipt Of your note Of
yesterday we examined some of the books
Of the Bank Of Tennessee, and find that the
circulation issued since the 9th May, 1861,
amounts 10 Sl,77s,S57, lone million seven
hundred and seyenty-eight thousand eight
a@AA AaAA ~ Gu RAALAAH AAA AAAA
the whole amount Of outstanding ~circula-
ton Including the above) is S4,7l0,GG5,
-four million seven hundred and ten theus-
and six hu dred and sixty-six d~ollars.J
From this amount must &c deducted the
notes on hand at the parent bank and all
the branches This can be atcertsined BY
examining the last statement Of eech
branch. The five hundred and thousand
dollar post notes, issued since the 9th Nay,
1861, amount 10 S466 600 -four hundred and
sixty-sjx thousand dollsrs.) This amount
is included in the issue since 9th May, 1861,
SEATED above.
Tbs capital stock amounts TO 80, 679, 06s.33,
three million six hundred and seventy
nine thousand and sixty-eight dollars and
thirty-three csnts.) and consists Of the fol
lowing items, viz:
State Bonds issued at the time
the Bank was chartered ....... 81 Gee ,000.0
Union Bank...~~~.~--~ Ss4,4s4 90
Proceeds of sale OF stocks in the
Planters Bank---....-...-... 232, 10000
states...------.-. ss2,s7sI9
school 5,O43.35
Ocoee land sales. 570, 536.Sl
L. 5. Public Land, T1,Is9.SO
Comm School Fund, 45,62I.ls SAG 1854
SS,67e, O6s.33
One Of the General Ledgers" Of the
Bank being misplaced, we have not been
able 10 ascertain the precise amount Of
profits Of the Bank paid into the State
Treasury since the law was changed, 1885,
requiring the Bank TO pay its profits into
the Treasury. The books Of the Treasury
should show this. We find, however, that
the Hon. Cave johnson, President Of the
Bank, in his report TO the Legislature in
1859. states that "the Bank pad into the
State Treasury Ss50,00O EIGHT hundred and
fifty thousand doIlars) between the Ist of
January, 1857, and the LIST Of July. 1859"
The Ledger shows that during the year 1858
the Bank bought and cancelled Sta e Bonds
amounting to $4,000, lone hundred and
thousand dollars making $685.
000(nine hundred and ninety eight thousand
dolIarsl contributed TO the btate in two years
six months, q fraction over ten per cent.
per mum on its entire capital. In 1851
find there was paid into the State Treas
ury $3.50, 900, ana that previous thereto
SI75,7 ss 81 Of the profits we're reserved to
cover bad and doubtful debts. The whole
amount of notes now in circulation which
were issued prior to the 9th Of May, 1861,
being $2,93l ,s29 two million, nine hundred
and thirty-one thousand, eight hundred and
dollsrs)i is S747 ,237.33 less than
the capital Of the Bank, while the whole
OF notes in circulation, issued be-
fore and since the 9th OF May, 1861, is ST.
OBJ ,597.6z more than the capital. We will
cheeriully give your committee any further
aid in this investigation in our power.
Respectfully, Jos, ". ALLEN,
II. L. CLAmoRsE.
In addition 10 the above, we learn from
authority, but unoficially, that the
Of deposits, aside from those Of a
special nature, is 81, 500, goo.
The debts due the bank, as we learn from
the same source, amounts TO about $4,000, goo;
so that, with all the swindling practicsd
while the Bank was in Dixie, it is to be
hoped that the depositors may get some
thing-though how much, is uncertain.
EunrzzLEMENT AND FRAVD.-The Indian
apolis Journal Of Saturday contains "a long
account Of a heavy fraud by a young man
of that city who has previously sustained q
good reputation. 1t appears that in 1863 a
gentleman from New York sent goods to
cleveland, Tenn, to the amount Of $4,000,
and consigned them to 8 young man who
had obtained has discharge from the army
for this purpose. No returns being made,
the suspicious Of the employer were at
length aroused, and on going to Cleveland
he found that the entire stock Of goods had
been sold, and that there were in the pos
session Of his clerk only $4,000 to account
for the $4,000. The fact that there were
no civil courts in Tennessee, and that the
clerk was not amenable to military law,
prevented him from bringing suit at once.
Attorneys in Indianapolis, however were
instructed to look out for the young man.
and, on Thursday last, proof enough was
found TO justify a call upon him, AParual
confession was made, and a promise obtain
ed to confess Judgment in the sum OF s2O,-
900.