Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-05-31
Prospectus.

Statistics show that during the past ten
wears hank -wreckers cmbo zZlers, and de-
faulters have robbed the people OF TINS
country of over one hundred million dol
lars. an average Of over ten millions Oh
dollars per annum; and this state ol
things has been growing worse the past
two wears. for the year 1892 shows rob
berries BY the aforementioned methods OF
about nine million dollars. while 1898 shows
about nineteen million dollars, 1891 about
twenty-five million dollars. ana 1888 shows
over four million dollars TO July lst.
Anv state Of affairs which will allow the
robbery Of over one hundred millions of
dollars in ten years Is certainly appal-
ling. and calls for active measures-hrst
TO ascertain the cause. and next 10 pro-
vide the prevention. The cause may be
attributed TO that desire. which seems 10
pervade all casses-to get rich quickly"
and to live extravagantly The means by
which the riches are obtained are TOO
little considered.
How 10 prevent the populations, embez-
element. and Justification of accounts by
employees has been the subject OF much
thought by bank officers. some employ
the extensive method of keeping a dou-
BILE force Of clerks, one set working at
night to verify the work of those en-
ployed during the day: some shift the
clerks from desk to desk at uncertain
periods: some organize an examining com
mittee among the clerks. some employ eS-
perts TO make a complete audit once or
twice "A year. and some contract with an
expert TO examine and audit one depart
meut a month; no one. not even the
bank officers. knowing which department
will be examined next OF the methods
named we have seen the most satistac-
ploying experts to make an audit either
a general audit or by departments
monthly. An audit made by experienced
men. who have no interest in shielding
any one. and who will thoroughly examine
and prove each department, and make an
/ honest report. is certainly one OF the
most satisfactory safeguards a bank can
! employ How to prevent the robberies by
| officers of financial institutions. and pub
/ lie officers, is a more complex question,
! but complete and impartial audit by
! outside and disinterested parties. at
/ irregular periods, is the best safeguard
/ known.
THE FAILURES OF FINANCIAL IN
| STITUTIONS SHAKE THE CONF
| DENCE OF THE PEOPLE. AND
! EVERYTHING SHOULD BE DONE TO
/ WARD OFF SUCH \ CALAMITY.
In so many cases il has occurred that
an investigation. after the failure of a
bank. has developed the fact that fraudu-
| lent acts have been committed for several
years. and apparently successfully con-
! ccaled
BANKS ARE PUBLIC INSTITUTIONS.
/ INSTITUTIONS OF TRUST. AND THE
/ PUBLIC HAVE THE RIGHT TO FEEL
! THAT THEIR INTERESTS ARE FULLY
/ PROTECTED THERE.
In organizing this company We feel
that IN the territory ii will operate it
viii hll a greatly needed want We will
furnish, upon application duly signed an
| experienced examiner and expert ac-
countant
We are also prepared 10 eXamne-in adj
dition TO banks-the books of insurance.
building ard loan. railway companies.
cities. towns. etc. All examinations will
be conducted under oath and publication
made. when so desired.
Very respectfully.
THE SOUTHERN STATES
GUARANTEE ENAMING COMPANY.
h. B. Harding. late United States Ma
tonal-Bank Examiner. Manager. Rich
mond Va. Jefferson HoteD.
References (by permission)- james y.
Boyd. president First National Bank.
Richmond. First National Bank. Roa-
noke; Bank of Charleston. Charleston, s.
c.. the National Valley Bank Of Staun-
ton Va; the Atlantic National Bank. VIII
mngton, y. c.. the First National Bank
Parkersburg, w Va; the First National
Bank Huntington W. Va, the Norfolk
National Bank Norfolk Va