New national era. [volume] (Washington, D.C.) 1870-1874, 1873-03-20
Branches Of the Treedrlan,s
Bank.

Bank.
80 regret st5 accent az t--oa n his -.
Jeet, especially the basiy judgment expressed
by some q our contemporaries. Our pap..
issues from 'ha immediate ne.gh5orLood oe
the BAN, md f- ought to know the facts.
Their =, indeed. no f,7cct Legislation. a.
ihe'rchario- granting power to have branches,
but the a.ress@y If Il i-o~E requires this.
and We happen to know that such was In,
expectation Of members Of Congress mos.
Gciive IN obtaining the charter.
We notice nothing n tL:s crzaa.. az
1gaias: branches; hence the, ,zistcae. ca.
BE no ''s.oiG:.os o. charter" The :--.s:es,
we're left to follow their hes; Judgment Z.
executing the trust committed to them. W
''ts yscsiss-ca dTosd saci suns r 7o7, a:ra.
from tia: 70 tine be ogere1 Gsrcta-. on bsI4lr
cfPersoHs ierrfofoye held 70. -!1rr-s IL ~ r.,.J
!Sot>s. or tier deccad.0fs." OF course .5ne
agency had to be established q. localities
where this class o! persons res.ieG
The Controllers late r,r-T: evidently =.
tends only TO state az a5sa-. Of leg.slatIoa
on this subject, and also does not design q
weaken the high credit OF tic institute
( Let him speak for himself Il 4 i.spa;,.
through the Associated Pres. is:ci MAJ.
: 10, 1878, Re says:
! THE reports Of the Controls. 6. IL, -.
I rency and Of the national 'auk Examiu,-
upon the condition of the Freedmen 5 Say!ur-
and Trust Company of this eity, was intended
to furnish Congress information with refs.-
Cnce 10 'e-d7icdl violations cf the law 1Sde-
which the Institution was organized. The So
/ c'1ity upon which the loans were mide a con-
/ sidered BY the Controller sni The Examine.
I with few exceptions, a good for The Sm1ua.
I caucd. There i nothing in tho report which
conveys the impr1 Ssion that the haHk ,.un#
respond to the demands Of the Jepo,t0~=.
The Examiner states that the executive ..-
IicarS are, IN hi opinion, men vI lhe most a..
/ doubted integrity Of character, devoted to IL
! best interests of the Institution. who have g.
ucated themselves 10 q practical know led.
( OF the business "a the institution, what
promises 4 prosperous future for IT,
The Controller Of the currency states .h.l
/ the bank will be able To- correct n.'~t stakes, ami
continue business Of great usefulness to IT..
! class OF depositors for whose IeEeht the ~.
Stitutjon was organized
! This officer permits Is 90 correct he ps...-
cr'S error, mot ours,) which makes Lin . -.
sert in his report that ~ -.,.L-s ,aya ,oa.:I
stoHsy fY,a reel estate 81 'Csa i.1u No. hair
co!as Of he loan" II SHOULD s,g, .2-r 'is.
ioHttf the value, Ac.
We are assured by tie lion. Chairman o.,
/ The senate Committee, THAI Congress kl.
no idea Of Interfering with the business Of
the branches of the Company have no right
10 DO SO if they would" THE report Of the
Controller" he saws, 'oul furnishes lnforna
! ton on the subject for future LEGISLATION 30
and adds, my impression is the bank h?.
| done great and CooI work Let L 90 a
and do. in the main, "a it has done"
If anything farther vas needed beyond
the very favorable rrPor; Of Insrccto.
Meigs, (Which we publish c,seuLerc.) It
would be the testimony Of the present
Hon. Secretary of the Treasury, who ssy5
in resigning his membership in tic Boari
Trustees, FEBRUARY 3, 1873 "SympathIziu.
deeply with the object Of your institution to
encourage thrift and economy anon. til
freedmen I wish you the full measure &C sue
cess to which you are Justly entitled"
But dnaliy, there can certainly be no 5pe
cial danger to depOsit2r5 nj branches, in am
case. Their deposit books axe the legal
vouchers Of the corporation ami all Of them
payable, If need he, at headquarters. IfUi5
bank, rs the Inspector declares, has a fax
surplus Of some thousands of dollars over all
liabilities land this surplus has been cousid-
erably increased since his c@smiuat.0uJ thea
| we I;,ay ne sire that 'ofJror, Cc rrr,jctrI+oi
integrity will be able to manage the woy.
hereafter with the same safety and prosperity
as IN times past. We bespeaE the continue /
confidence Of all clas-ee in this excellent in
stitution