Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-02-24
TIE BANK.
The Report and Recommends
lions Of the Committee.

In the House. Saturday, MI. Single
tary, from the Special Committee on th
: Affsirs OF the Bank of Tennessee, sub
mltted the following report:
Tbs resolution under which your com
mittee was appointed calls
l. For the amount Of cash on hand.
2. Amount Of bonds.
3. Amount of accounts.
4. Amount Of promiss r no'es.
5. Amount of IL K bis.
6. Amount OF Southern currency.
Z. Amount Of other assets.
s. Annual expense of bank.
9. Value and description Of the rea
estate.
10. The condition of the suits now
pending in the courts.
II. The probable condition OF q speedy
adjustment and settlement of said bank.
Il. Recommendation necessary to pro-
tect the interest of the State.
The House will at once perceive that a
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 this
school fund vas regarded as safe in the
Bank of Tennessee, and at that time the
bank was In a sound and prosperous con-
dition.
Previous to the war the avail ble
means of the bank were s., 1854, ISL q,
and its liabilities, exclusive OF its capital
stoek, "a 305, lis IS.
Tho vaafhar kanE -aa ro-aa-rl fr1,,
Nashville south on February Is, 1862,
and from that time during the civil Wal
the business Of the mother bank and its
branches was transacted within the Con-
federate lines.
1t is unnecessary for US to proceed fur
Their with q history Of the bank during
the war, for the special committees Rp-
pointed by previous Legislatures have
made reports that chow e~Onclusively its
conditions during and since the wsr, and
for Us to Feiterste 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, S66, 9l4 So.
10 reference to the bonds there appasrs
to be q seeming discrepancy, and the
gentleman from Wilson (hr. Waters)
will report to this House before adjourn
ment, in reference to that matter, he be-
ing intrusted by the committee with that
question.
of accounts.................-..s 55T, 7OS Is
Amount OF pIOml. sorry nOtes--........ l,3 g,349 GO
.mount of bank bills............... LOSSES 10
AMOUNT Of southern currency. .-... $3.50 81
The annual expenses of the bank at
Nashville, SO, 500 40, and for the partieu-
lar items see Exhibit A.
The annual expenses of the bank and
Its branches, according to Mr.. Watson's
statement and report, is S24, 4Z0.
REAL ESTATE.
Tde property Of the Bank Of Tennessee
at Nashville consists in & bank building,
On Cherry street, and is estimated at
sTa 600. Also, two vacant lois, estimated
st 5000.
One banking house at Sparta, Tenn,
at S35 900.
Oae banking house at Rogersvllle, val
ned at $1,000.
One lot in Chattanooga, valued at
$1,000.
Two hundred and forty acres Of land
Hamilton county, valued at $1,000.
One banking house at Shelbyviiis, val
led al $1,000.
Two Thousand acres of land in Arkan-
jas, value unknown.
One house and lot at Mosby Creek,
at $500.
These estimates are made from the
Of the bank.
Ia reference to the condition of the
uits now pending in the courts OF the
your attention il respectfully
to that part OF Mr.. Wstson's
estimOny which explains fully the con-
Iition Ct said suits.
AS to the probable speedy adjustment
4 said bank, we are OF the opinion that
will require years to wind up the same.
In consideration Of the foregoing, your
are of the opinion that the
cry best thing or policy to be adopted
to pass some measure placing sSid
iank in the hands and under the control
( the officers OF the State, and that the
Attorney General OF the State be re-
uested to do his utmost 10 have all liti-
Gtion that refers TO receivers and trus-
ses of ssid bank, granted In the Chsn-
cry Court OF Davidson county-sud
hat all real estate belonging to said
ank DO sold, sud that the books and
spers, and everything sppertaining to
aid bark, be removed from the b3uk
to the Capitol. {
All of which is respectfully submitted.
F. S. SIEGLETARY, Chairman.