Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-01-04

Known 10 Us. Dut IL - uIiu0IStOOu "
be quite certain that very many OF
our citizens, including large numbers
ofthe poor, lost heavily, and not a few
all they had in the world. Whether
Mr.. WALKER has acted well
or i'll in his connection with that
institution, it is natural enough that
the "Reminiscences should come up now
to stare him in the face. Connection
with the Tennessee National, Com
mercial, Gayoso or Citizens Banks
must prove a very poor feather in a
mans cap when seeking the votes of
the poorer classes Of people who have
lost their all in such specializing and
shaving shops. We should advise
such men to "stand from under"
Think Of a bank" run "without
any actual capital" most of the
time from the date of its organiza-
tion,U and having in circulation $685.
837 all the time; notes and bills
which passed as money! No wonder
the ArGlGHche goes more for the glory
of saving the Catholic Church from
the mackerels than it does on the
" inanciering" qualities. 1t tells
us that Col. WALKER "wiII
have no other duties or engage
ments outside Of the Office of Mayor"
We wonder if he had anything to do
outside of the Citizens Bank when he
run that machine up to a circulation
of three hundred thousand, on not
more than $27 900 capital? a man
who can do that, and keep his money
up to par, should be sufficiently skill
full to gather up oak leaves enough to
pay off the city Indebtedness in short
meter, and without raising any large
amount of taxes. Just elect WAGTCR
and revive the Citizens Bank, and we
shall all have money enough; and, by
swapping jackets for a living, get as
rich as we please. The rich will get
richer and the poor poorer. But then
nobody will have a right to be poor if
WALKER is elected.
All that will be wanted will be- to
raise twenty thousand dollars for
every three hundred thousand dollars
we want, and then every IabOrer will
have all his pockets full Of gold which
he has only to walk over to the specie
paying Citizens bank and drag out.
+" Damn the expense" and devil
take the hindmost." Whisky chute"
triumphant! The following is the re-
port:
The committee appointed at a public
meeting of the citizens of Memphis, to
inquire into the management and condi-
ton of the Citizens Bank, having dis
charged that duty faithfully, beg leave to
make the following
REPORT:
We find from the minutes that the Com
m~issiOners met at Nashville on the 10Th of
March, 1852, and tho books for subscrip-
ton were opened on the 22d of March,
1852, and stock subscribed to the amount
of 2000 shares. at SIC0 each.
\. L. Altoway subscribed for 1000
shares, FOlWel e. Adams subscribed for
1000 shares, and the bank was organized
by electing the following Directors. viz:
n. /. AIloway, w. N. FOlwell, A. Lewis,
J. II. Watkins, John Shelby. 1t does not
appear from the minutes that any bust
ness was transacted at Nashville. In
December, 1858, the bank was removed TO
Memphis, n. T.. AlloWay having trans
ferred his stock TO Folwell 81 Adams, and
Folwel q Adams to W. N. Folwell. De-
cember 80, 1858. w. NJ. Folwel trans
F1wwr1 HE HNAaU- 10 : = Walk. -
this time no evidence of call for payment
Of stock appears upon the books, unless
the following copy of a receipt, which ap-
pears on the minutes, indicates it:
RECEIPT" Received ofN. L. Alloway,
Cashier of the Citizens Bank, of Nash
Vile and Memphis, Twenty Thousand
Dollars $3.50, 600 in gold, the same being
the mOIn of the first andsecond INSTALL
ments paid into said Bank in conformity
with the provision of its charter.
"W.M NJ. FOLWELL,
(Signed) SAMUEL Z. WALKER"
Nashville, December 10, 1858.
The following transfers show who have
been the principal owners of the Bank
from this period to the present time:
Shares.
red to ID. B.TurneF 1873
February Is, lsj4. s.P. Walker transferred
July i 1874, s. r walker transferred To ". ~
A. 80
August is. 1854, S. P. Walker TRANSFERRED to
Z. 100
March 81, 1856, ;. p. Walker transferred to
w. II. Carroll 20
April g, 1855, J.. B. Turner transferred to ).
J.. " 800
April 10, 1865, +. Lane transferred TO ;. p.
100
April q 80, I'll. McCiung transferred to
=. 4. " 20
June 30, 1870, W. A. Jones transferred TO ).
January %, lSjs, 5. P Walker transferred
D.. i. Turner and W. A Jones all his
STOCK UN9
April 6, 1855, W. II Carroll transferred to
ID. i. Turner and W. A.. Jones--.--........ %
July 6, ISGS-D. B. Turner enters his
protest against the validity Of the two
last mentioned transfers Of stock.
The committee did not find. after the
withdrawal of W. NJ. FOlwell, tina there
was ever more than So, 600 paid in-as capt.
tai stock, viz: $4,000 by $. p. Walker,
$4,000 by d. b. Turner, $1,000 by w. A.
Jones. On the. transfer of Jones and
Turner's interest in the Bank to s. p.
Walker, Tones ard Turner withdrew their
amount paid in, and subsequently Walker
withdrew his.
We find that during the management
Of the Bank byS s. p, Walker the following
notes and unaccepted bills were deposited
as the representative Of the capital stock
of the bank, viz:
S. p. Walker, note, $4,000: ditto. 500
600; Marsh Walker, $1,000; ditto, $1,000: /.
n. Burnett. SSaBO. = p Walker $50 900.