National Republican., 1874-06-01

MA ITO N a IL Al u EThOFOLlIAN N
BANK
RESIGNATION OF MR.. MOSES KELLY
COMPLIMENTARY RESOLUTIONS OF
THE BOARD OF DIRECTORS TEN
YEARS FAITHFUL SERVICE.
Annexed will be found the letter Of Moses Kel-
ley, esq, rendering his resignation as cashier of
the National Metropolitan Bank and the very
complimentary resolution Of the board of d.
rectors Of that tme-honored institution accepting
his relinquishment Of office, and making just &C
knoWledgment Of his efficient and valuable
services.
Mr.. Kelly certainly has good reason to be proud
Of his record as exhibited By the condition Of the
bank when, ten years SINCE, he assumed the cash
Iership, and its present prosperous condition.
Faithful TO the interests committed to his care he
sought not only to make It q source OF revenue to
its stockholders, but q beneht to the community
in which It has SO long existed. How ample has
been the remuneration Of the one and how Just
has been the advantage to the other, is shown by
the fact that during the pas: decade the dividends
have aggregated sss7 900, the losses have not ex-
eeeded one ffth Of one per cent per annum, while
Its loans have amounted to not less than S20, ,00o
co.. By wise policy, these loaus were mostly in
gmal sums, averaging six hundred or seven hun
dred dollars, and by this means as Mr. Kelly re-
marks, the bank afforded "some thirty thousand
distinct accommodations. almost, without eIcep-
tion, to our own people, who have used the means
thus obtained in building up and strengthening
our local interests"
The extent Of the benefit thus conferred cannot
be estimated, and Mr.. Kelly is entitled to the
gratitude Of the community for the result Of
policy as judiciousy devised it has been disin-
terestedly executed. In his retirement from the
bank he carries with him the best wishes Of his
feIlow-eitiEens. who admire him as well for his
fdaro ofa in
the exacting demands of his arduous and respOn-
sible position.
Mr.. KELLY's RESIGNATION.
NATIONAL METROPOLITAN BANK.
WASHINGTON CITY, May y, 1874.
GENTLEMEN: Early in February last, l notlhed
you of my purpose to retire from service as your
cashier or before the first proximO, and now
tender my resignation to take effect on thas aay;
say most truly, that leave the bank in highly
prosperous condition, each day giving renewed
and good viii Of the community. With wise man.
ARement it must continue to grow in pubLc es-
o9en t@e ths bank city It's
gress during the last ten years, In my opinion,
fully justiies this assumption. Let US briefly re-
Metropolis, i" organized January IL, 1914, amer
long career of great prosperity, had become re-
duced to q state Of extreme humiliation. Its cap
ftal had been reduced from $500 900 to $3.50 81
and even this residue mad been go impaired in
value that at public sale on April 2 1858, Or
that could be obtained for Its stock was 3S1 cents
on the dollar. A few months later. with great
duced to ACCEPT its cashiership which had become
vacant, and to enter upon the task Of regaining
what had been lost.
Aided by the counsel of some of our most emil
nent business men directors, and an efficient
corps Of assistants success so far crowned the et
forts which were made, that, on May l, 1865, we
were enabled to effect complete Reorganization
under the National Currency act, with stock at
par. This result was secured in part by collect
ing Rll debts some ofthem Of nearly thirty years
standing supposed 10 have been lost, and, In part,
by increase OF patronage which came to us as the
fort. Its business has since greatly Increased in
volume and profit. Its capital has been restored
to $5OO,OOO. as it originally stood, and in addition
TO this, it now has on hand surplus fund OF
&l5o equal to thirty per cent of its capital to
say nothing of its earnings since last dividend day
Nor have It's stockholders in the meantime failed
personally to reap the benefit consequent upon
this improved state of things, having received in
the way Of dividends an aggregate Of S337, ,o57.
During my term Of service its loans to mechanics,
tradesmen, contractors and others have not prob
ably been less than 5000 900, mostly in small
sums, the average being about six or seven hun;
dred dollars, thus afording some thirty thousand
distinct accommodations, almost without excep-
tfon to our own people, who have used the means
TINS obtained in building up and STRENGTHENING
our local interests.
Although cur loans have been so numerous
and, in the aggregate so large, our losses have
been comparatively small, the entire amount
charged to profit and loss being only about
$I5OOO, OF which more than one-third was made
up OF loans LQaQe Dy the Olu Da0k ana Drought
forward with the new. And, now, gentlemen, in
surrendering to you the important trust so long
held, permit me TO say that it will be impossible
for me in the future not to feel lively interest in
the prosperity of an Institution with which have
been SO closely identified; and in taling leave of
wishes for your continued health and prosperity.
nm, very truly. yours, MosRs KELLY.
IT. tie PTsstdegt st.. and Director. Of t8e National
: EEsoLUTfo&5 OF THE DIRECTORS.
rho foNE rasoIutIOna hava heen nasead NV
the board Of DIRECTORS:
RcsofUed, T5at ID accepting the resignation Of
Moses Kelly, esq, we take pleasure in acknowl-
edging his invaluab.S services TO this bank, Of
which he has been the cashier for the past ten
years; and entertaining grateful sense Of his
5si aT his
perity.
quested TO furnish Mr.. Kelly with copy Of this
resolution.
PLEASANT EIGURSIoN-W WoODLAW
FARMERS.
On Saturday morning took passage on the
steamer Arrow, with Captain Hollngshead,
for Mt. Vernon, with very large crowd Of
passengers, all pleased with the day, and treat
ment on the boat
Among those from W Washington bound to attend
the pleasant meeting of the "Woodlawn Farmers
Club" were Mr.. j. A. Hopkins, Mr.. ]. Q. ID.
King Dr. E. P. Rowland, Col. D. S. Curtiss, Mrs.
Henry KnelIng and some others.
Near Mt. Vernon, at the fine farm Of Dr. How
land, we partook Of an excellent lunch; then the
Doctor carried u.s. in his carriage, to the pleasant
residence and farm Of Shepherd Wright, near
Accotnk where the Woodlawn Club, to tho num-
Der Of about one hundred, were hayipg very In
teresting sessiOn-their regular May meeting
ChAiEley Gillingham, President, and N. W. Pear
sops, Secretary.
Ii aecorde6ee with the regular order, Mr.. Z. E.
Mason, chairman of the critical committee, read
crjtscism on the farm Of Mr.. Wright, which
gave It a very creditsbIe report, as to progress.
DR.. Rowland proposed, or promised to read q
paper, at next meeting, on insects and fungi inJu-
rious to farmers work.
Various matters OF local interest were discussed.
1t was generally reported that the peach and
some other fruits will be short crop this season.
Mr.. Hopkins read an interesting letter from
California in regard 70 me antIieTer Tree, Gths
to possess wonderful powers, both as preventive
and cure for malarious diseases,
The subject Of dairies and feeding dairy cows
was discussed by Messrs. LuKens, Pullman,
Curtfss Hunter Walton and other members.
Farming implements was the next subject OF
discussion, involving the respective merits and
prices Of mowers and reaPers, the champion,
The Woods, 3" the Eagle" and some others, each
of which bad their friends.
Col. Curtiss was requested to state the action Of
the oranges on this matter, and he informed the
meeting that the grangers were ayailIng them
high prices OF manufacturers and extrayagant
commissions Of agents, and obtain implements at
prices thirty TO forty per cent. below the current
prices at which they have been sold and still COM
mand.
A splendid and bOuntifuI dinner was provided
to this large company by the wife and sisters Of
our host which was pertaken with great satEfac
tion by all: after which the meeting was again
called to order by the chair when further routine
business was dispatched and committees sp-
pointed.
On motion, a committee on farming implements
was appointed, composed of Robert Roberts, Val
entine Baker. and Samuel Pullman, to report at
next meeting, which isto be the regular order of
business for debate.
Critical committee for next meeting is r. F.
Roberts, N. W. Pearsons and Samuel Pullman.
Mr.. Pulman's farm was the place of last meeting,
and was reported by critical committee TO be one
OF the best, most thoroughly worked and thrifty
farms in the county.
farm of Benjamin Barton. AccorINK.