Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1869-02-21
BANK OF TENNESSEE.

The resolution, under which your COM
mittee was appointed, calls for,
/. The amount of cash on hand.
2. Amount of bonds.
3. Amount OF accounts.
4. Amount of promissory notes.
5. Amount of bank bills.
6. Amount of Southern currency.
Z. Amount of other assets.
s. Annual expense of bank.
9. Value and description Of the real
estate.
10. The condition of the suits now
pending in the courts.
IL. The probable conditions Of a speedy
adjustment and settlement of said
bank.
u. Recommendations necessary to pro
tect the interest of the State.
The House will at once perceive that
q full and minute report would require
more time than this General Assembly
could grant to give the subject that care
and scrutiny which it demands.
The Bank of Tennessee might well be
termed the offspring of the State, and,
previous to the war, its officers were the
guardians of the school fund. Up to the
commencement of this civil war tn
school fund was regarded as safe in the
Bank Of Tennessee, and at that time the
bank was in sound and prosperous
condition.
Previous to the war the available
means of the bank were S7,9S4,>
l84 2l-100, and its liabilities, exclusive
of its capital stock, $4,305, 1l5 $500.
The mother bank was removed from
Nashville south on February 16, 1862,
and from that time during the civil war
the business of the mother bank and its
branches was transacted within the Con-
lederate lines.
1t is unnecessary for US to proceed
further with history of the bank during
the war, for the speeisl committees ap-
pointed by previous Legislatures have
made reports that show concllsively its
conditions during and since the war, and
for us to Teiterate the words of former
committees is, as we deem. unnecessary,
and, in accordance with the resolutions
under which we were appointed, we sub
NIT the following as statements from the
bank:
Cash on hand, sec, 9l4 "a.
In reference to the bonds, there ap-
pears to be seeming discrepancy, and |
the gentleman from Wilson (Mr. Waters)
will report to this House before adjourn |
ment in reference to that matter, who is
by the committee with that |
question.
of accounts, S537,7 l6 |
Amount Of prOmisary notes, l, 1863, 349 90 |
Amount of bank bills l,045,998 70 |
Amt Of Southern currency S2,9O6 81 |
The annual expenses of the bank and |
its branches, according to Mr.. WatsOn's |
statement and report, is $24, APO.
REAL ESTATE.
The property of the Bank of Tennes~
see at Nashville consists in a bank build
ing, upon Cherry street, and is estimated
1t $4,000. Also two vacant lots, esti-
mated at $4,000.
One banking house at Sparta, Tennes-
see, valued at $4,000.
One banking house at Rogersyille,
valued at S0,OOO.
One lot in Chattanooga, valued at
1000.
Two hundred and forty acres Of land
in Hamilton county, valued at s. 900.
One banking house at ShelbyviIle,
valued at $1,000
Two thousand acres Of land in Arkan>
sas, value unknown.
One house and lot at Messy Greek,
valued at $500.
These estimates are made from the
books of the bank.
In reference to the condition Of the
suits now pending in the courts Of the
country, your attention is respectfully
directed to that part of Mr. Watson's tes-
.imony which explains fully the cOndi-
ton Of said suits.
As to the probable and speedy adjusts
ment Of said bank, we are of the opinion
that it will require years to wind up the
same.
In consideration Of the foregoing, your
are of the opinion that the
very best thing or policy to be adopted
IS to pass some measure placing said
bank;in the hands and under the control
Of the officers Of the State, and that the
Attorney general of the State be request
ed to do his utmost to have all litigation
that refers to Receivers and trustees of
said bank, granted in the Chancery Court
Of Davidson county-and that all the
real estate belonging to said bank be
sold, and that the books and papers and
every thing appertaining to said bank be
removed from the bank building to the
capitol.
Ali of which is respectfully submit
ted, f. s. SINGLETARY,
Chairman