The national Republican., 1867-12-30
ps- Letter from Hon. II. n. Hulburd,
COMPTROLLER.
TREAsrRr DEPARTMENT,


COMPTROLLER.
TREAsrRr DRPARrSEsr,
o'F''F or cOArFsPaans saIss4os, ~ TsS 5st SesfsS
3oth ultimo, in which you inquire, "is the re.
ceiving Of parcels containing unknown yalues,
without charge, as generally prseticsd oy the
II so, are the stockholders responsible for their
10 this inquiry reply that National Banks
under q law of the United States, with certain
specified and limited powers. Section OF the
National Currency act defines these powers,
wherein the National banking Associations are
authorized to exercise under this act all such
incidental powers as shall be necessary to carry
on the business Of banking by discounting and
negotiating promissory notes, DRAFTS bills Of ex-
change, and other evidences Of debts byreceiving
dcposltsi by buying and selling exchange, coin,
securityj by obtaining, issuing, and circulating
notes according to the provisions OF this act"
A National Bank may exercise @ an, or @ all Of Of
claimed that bank may receive packages OF val
uable securities, plate or other things, for safe
posits." But the term "depositsn has a definite,
well-ascertained meaning, as established BY Gus
tom, and authenticated by Judicial decisions, and
deposits Of money payable on demand: II It
means anything more than this II may include
anything or eyerythins IL 4 would Include include
which would be absurd. The practice to which
you refer cannot, then, be sanctioned BY this
But can Il be sane ctioned by the authority con-
ferred to "exercise such incidental power as
shall be necessary to carry on the business OF
banking" &c.f think not. The custody OF
valuabies may be a conv nvenience to the directors,
stockholders and customers Of q bank, but II Is
not In the slightest degree necessary Incident
rect limitation to the scope OF these Incidental
powers, In the language Immediately following
the grant, incidental powers Necessary to carry
issory notes, sc. Is the power to assume the
custody and safe-keeping Of miscellaneous valu-
notes, notes drafts, 5ils Of exchange, Sc Is i heses-
sary In order to do any portion Of banking bu-
sinessi Evidently not. The practice, then, not
enu%serstioD s Of powers W s conferred includes the
Nothing is said about loenins money on real es-
tied as though il had been done in 50 many
words. The rule, then, 10 that bank can exer-
Sss sS SS
hiblted. In this view OF the case have no hesi-
tation in saying that in my Judgment, II 10 d.
rect 81 the nsnt Sa ne S
sumo the custody and ssfe-keeping OF miseells-
nSSIs eS is tSH Nature Of sraad uson the e spack
holders. II the valuables are lost through the
oarelessness or dishonesty Of bank officer or
clerk, the officers are undoubtedly liable; and II
the practice has been sanctioned By the board OF
directors, they will be held liable; and as they
are the agents of the stockholders In managing
the affairs Of the bank, l do not question but
that the stockholders would In the end be re-
quired to make good the resulting loss.
think the custom very hazardous one, and
shall do all In my power to discourage IT. and,
under certain circumstances, might be compelled
to proceed against n bank for violation Of Its
by voluntary action on the part OF the banks.
Very respectfully, yours,
"a barif%51: riESrrt: ss Cashier First National HANK
The attention Of depositors Of bonds and other
letter oS the o. he
| rency. Concurrent opinions by several eminent
legal gentlemen have also been given. In conse-
assuming the responsibility OF the custody Of such
| articles. Depositors are requested to withdraw
such deposits now In our possession, at their
convenience, before the LIST day Of January, 1868,
de2i-sf Cashier First National Bank.
HSFINE FRENCH CONFECTIONERY
FOR THE HOLIDAYS,
JOS. II. HAFFIEL IS,
2,S PENNSYLVANIA AVENUE,
BET. TWELFTH AND THIRTEENTH STREETS.
FANCY BOXES,
CoRNETs, BON BoNs,
FRENCH FRUITS,
FRENCH TOYS,
AND
OTHER CONFECTIONERY
SUITABLE FOR THE HOLIDAYS,
IMPORTED
FROM ALL PARTS OF THE WORLD.
HAVE NOW THE
FINEST AND LARGEST DISPLAY OF
CONFECTIONERY
EVER SEEN IN WASHINGTON.
A LARGE ASSORTMENT OF
FRUIT AND POUND
AND FANCY CAKE:
NOW READY, MADE
OF THE BEST MATERIAL,
AND HANDSOMELY ORNAMENTED
p. S-MY CUSTOMERS
AND THE PUBLIC IN GENERAL
WILL PLEASE
SEND IN THEIR ORDERS EARLY FOR
THE HOLIDAYS,
TO GET WELL ATTENDED TO.
JOS. II, SHAFFIELD.
bg-skates and skate-sharpener, Tabl
and Pocket Cutlery, and general assortment q
Hardware and House-turnishtng Goods atpriee
to suit the times. The celebrated Safatog
Skates for Ladies and Gentlemen:
$50 Pennsylvania avenue,
dels-lm Bet. Sixth and Seventh streets.
,9s,The skating Park, Season and sin
gle tickets for the Washington Skating Clu
skate Depot, 3A street, near Tenth-sign
the Big Flag. delftf
BOWERS ALBERS,
date J. A. SHAFFIELD * OO,)
ICE CREAM MANUFACTURERS AND cor
PETITIONERS,
| 800 Eleventh street, bet. X at. and Mass. ave,
have just received large stock OF French Col
fectionerles, Fancy Boxes. Toys, etc., suitab
for Christmas presents.
Parties, Weddings, Fairs, ETC., furnished wit
the best Ice Cream, Water Ices, Cakes, ETC., 1
reasonable terms.
Give us call. delo-3m
S5'The Republican ON the Navy Yard
Persons reaiding on the Navy Yard desiring II
NATIONAL REPUBLICAN delivered promptly NJ
regularly at their residences, will please lea,
their names and residence with Mr.. JOSEPH Il
! PKTTI, grocer, next to the northeast corner OF
street south and Seventh street east. no2l-tf