The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1880-01-31
THE FACTORS WAREHOUSE BANK,

| New OHLEANs. January 2G. 1870.
| TO tho Editor OF the Democrat:
Accept the thanks Of Enquirer Tor calling
his attention TO tho chatter Of the above bank
| In thus directing attention 10 this Invaluable
cha tor you have done public benefit, for II
| ever there was n charter framed by this or any
other State for banking purposes. and designed
| TO meet tho neoapsities Of great and growing
com mercial metropolis. this one may be- Justly
| ranked ns ono OF tho best ever conceive d to
cover NIL tho requirements Of trade. both do.
mestic and foreign. SIch an institution WINS
demanded ut the time OF ia inception by tho
most Intelligent and progreasive merchants of
our city Vai Ions onnssa. | learn. have CON
trlbuted to keep 1t Ia aboyauee TO Tho present
time. the pre-umah!e ono beinR the want of
home capal. groat value. Wh"n ones estnb
liHhed. to orr trada aud enmmeres never has
boon. nor Ia it now, for u MON ut doubt d.
The time IL nerr 1T hand. Mr.. Editor. when.
| as matter Of paramount necessiy. we must
have n bank Of nrse capital, md with fran
ofisas such ma are emb died In the charter
under consider tion. TO enable our merchants
to meet the greaty Increased demand Of com
meree. Thasa demands arc daily growing
more and more urgent. hnh demands moro
abundant banking capitll Tor Hoon WIFI 10
oh ,etvant men to be steadily and surely con.
vefging TO this unrivatled selport Of the Gull.
understand that books ~ tubscription to
the capital sock Of this bank have been omen
for the past year two nj ii secretary's office.
over the State National Bank. M. 81 damp
street New Orleana Cl airing Hous. and mos
strange to say, but few h we responded by put
ting down their names for this future valuable
stock for the writer believes III n when ia b,,uk
isopened business and fairly under way. un-
der the guidance OF enlightened merchants III
dire tors that no bank stock in the market
will be sought after with more avidty. as "a.
surfing handsome and sure dividend upon
tho In vestment. IT. stock will rse to y proml-
nencs unparalleled La bank shares la this city.
and wby2
l. Because It. has valuable and exclusive fran
ebises attached to tho charter.
2, IL can loan money gu produce and mer.
ehandse In warehouse cotton aud tobH co for
ipstancel to the extent OF 60 Der cent Of their
cash value.
.. l. can rent or build warehouses; or put
warehouse nroprietore under bond for The
shfe keeping OF merchandise upon which loans
have been ma 10 by ths bank.
4. The cashier ia empowered by lawto admin
iater nn oath to the applicant far l"ana On pro
dune and merchandise. III It he has u bona ME
and transferable interest In the goods prof.
fered.
{. The bank cannot hold real estate taken In
the course OF bnslneas for 4 bs due tho bank
long r than five yanre. Then such property
must be 81 Id aud iis vaine IN cash realiz,d.
g. The bank may go Into business when one
fourth Of $4,000 shares have heen subscribed
aud % per cent on par value ttl00l heen paid In.
say s9ot 90 ftrst insta'iment Of Gas EACH. TO be-
Increased ut the option of the directors.
Flnaly-Iu tho charter there IL Inherent
strength. and above all safe y" and
Lasl ly-Its large capital. when full paid. will
domestic exchange market In equilibrium and
nreganta recurrence to Rueh an anomalous
and. We may tru y add ruInous state Of our ex-
change market that We have Witnessed tho week
past l. q selling Mt u less rate than buy lug.
Surely there is money enough now ard ought
to be pnblie spfrit' enough. and mn OF In
lligeDoo nugh. In our midsi to aee the mine
OF wealth held dormant as yet In the chart OF
tho Factors Warehouse Bank" To doubt IT,
now. In the face Of overwhelming eviience Of
new and golden future about 10 dawn upon
our favored city would bs to admit that our
merchants Hre either lacking Ia common intel.
ltvenoe or AFRO too penurious and miserly TO
risk one dollar they hold In ono baud before
they 500 two In tho other.
Such men never build 10 trade nor extend
commerce. rear cities aud town.. nor make tho
deseft blossom with the ros". Mol They will
forever remain sterile. VI somy. dark-dendl
Give us. Mr.. Editor. o give u3 here Ia New
OtlenDs. for the sake oi proapa ity n few live
men. men OF means and hou. and energy TO
show to the world that New Orlsans does pos
aess brains AZ well money. What we want
badly ~ large .niRrai n of Il p-ton Yam
keeR" such NJ we had 'orty-hve ye trs ago We
want some Of tho detcsnhnnts Of that go ahead
race men who startled N W Orleans from her
sleep of II century-and lol what q change from
Canal street to Louisiana Ayennei-hnd made
her u city Of stores and palial hnmrp. Tines o
men lived for something NOR. noble than self:
they lived for po4lerity. They arc dsud. Tut III .
beautiful city remains-n0t anlts deai yet.
Gan we bring her 10 lif a3tin-a new and
healthy. long and glorious llfo2
ENQUIRER