LIST-Continued. Thomas Willson's heirs Millicent Waring Matilda W. Willson George Waters William M. B. Willson M. E. A. R. Willson George W. Young tr. B. S. Young Notley Young - No. of 283 1 18 1 5 100 200 11 5 45 145 13 98 1 1 883 5 46 69 100 76 65 116 100 1 12 12 2 48 36 36 36 36 36 25 144 125 15 1 20,000 Full shares $25 each; some being only partially paid up. The stock standing to the name of the cashier was transferred to secure the payment of loans amounting to $14,027 48. D. Statement of debts, as principal and as sureties, due by the officers and directors of the Farmers and Mechanics' Bank of Georgetown to said bank, July 13, 1841. Hon. J. R. UNDERWOOD, Chairman &c. * For property held in trust by the bank, and purchased by him. L. (Second report.) Amount. 45 00 100 00 85 00 350 00 180 00 184 11 260 00 200 00 275 00 $9,763 79 422 86 1,058 12 1,480 98 120 00 100 00 235 00 260 00 lexander Suter, Book-keeper, V. J. Ringgold, Discount Clerk, Owing nothing as drawers or endorsers. . P. Waugh, Porter, $2,195 98 BANK OF POTOMAC, Alexandria, 7th month, 16th, 1841. Thy letter of the 10th inst. was received on the 12th instant, with certain estions requiring answers to such of them as we might deem ourselves thorized to answer, in consequence of which I now have the pleasure handing to thee the enclosed answers and statements, which we conceive be as full as can be desirable for any useful information. I am, very respectfully, thy sincere friend, PHINEAS JANNEY, President. P. S. If the chairman of your committee will select some members of the committee to come down with him and examine into the affairs of the Bank of Potomac, it will afford me pleasure to see them and attend to them. P. J. Answer from the president and directors of the Bank of Potomac to sundry interrogatories by the House of Representatives Committee on District of Columbia. Answer to the 1st interrogatory. The board are of the opinion that it would be treating the debtors of the bank improperly to communicate their names, when the charter does not require it, and the by-laws of the bank forbid the officers divulging the transactions of the bank. To 2d. This we had supposed was sufficiently answered on the 18th of June, and by the statement of the 10th of same month, but we herewith annex a more full statement, to 14th July. To 3d. Answered on the 18th June, except as to the estimated gain to the bank from the loss of its notes, which amount has been estimated from the best data we had at $7,500, which sum was credited to profit and loss account, at the same time that profit and loss account was charged with $10,000, deducted from cost of the banking house, which cost $20,000, and now stands on our books at $10,000. The Bank of Potomac has been in operation since 1804, and for several years had an extensive circulation through the western parts of Virginia, and in the State of Ohio. To 4th. The capital of the Bank of Potomac is $350,000, divided into 3,500 shares of $100 each, all paid in, which stock is held by 185 stockholders, as per list herewith, all residing in the District of Columbia, Virginia, and Maryland, except three, one of whom resides in Kentucky, and the other two in Philadelphia. Whole amount of loan on pledged stock is $14,250, for which 254 shares are pledged. We have for a considerable time past declined making loans on a pledge of stock of the bank. To 5th. The Bank of Potomac owes nothing but to its regular depositors, and banks with which we keep a running account growing out of collections subject to change every day. To 6th. We deem improper in the board to answer in detail, but can say that no officer in the bank, including the president, owes the bank a cent. To 7th. The last sale of the stock of the Bank of Potomac we believe was at $78-par value $100, which the board consider the stock actually worth, if we are ever to be put upon a footing with the citizens of the adjoining States. To 8th. Uncertain. To 9th. None. Signed per order of the Board, PHINEAS JANNEY, BANK OF POTOMAC, Alexandria, D. C. July 16, 1841. Test: W. C. PAGE, Cashier. President Bank of Potomac. DR. Capital of the bank Notes in circulation Deposites Undrawn dividends Statement of the affairs of the Bank of Potomac to 14th July, 1841, inclusive. $350,000 00 7,493 00 Bills and notes Real estate, including banking-house Alexandria corporation 6 per cent. stock Notes of other banks Specie United States Treasury notes CR. $262,138 00 24,799 26 24,780 00 54,000 00 12,049 00 38,897 12 $507,562 66 $507,562 66 *The particulars forming this amount are fully explained in Senate Document, 25th Congress, 2d session, No. 353, W. C. PAGE, Cashier. |
