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BrcIlEy Of a BANE.--Thc Legislature
Michigan appointed commissioners to
amne the situation of the Banks in that
ae. They lately made a report in
h.ch the constitution of the "Farmers
ank of Gcnncsee County" is set forth, as
sbw. Wonder if any OF the Directors
er members Of the Legislature.


The commissioners entered into an
samnation Of the affairs of the bank on
10Th ut. They found no officer in
barge, and no set of books had ever been
fgt 1t appears that the first election
directors took place on the Both De.
imbcr 1897, OH which day IL. NJ. Je.
Dmc was elected President, and r. NJ.
orrison, cashier. The security of the
lnk, bond of S25O,OOO, was filed and
proved by the treasurer and clerk, and
bank commenced operations. On the
} Of January last, Robert j. S. Page
selected cashier. The commissioners
ud file Ofnotcs designed "stock notes, .
; Of receipts to the several subscribers to
pck, and HReHdorScd notes to the amount


Sl6S653,5O! Two of these notes.
nounting toupwards of 500, O,0OO,werc gi-
IN BY II. K. Jerome, the President, pay
Dle five years after date!-Two others
= $4,000 and odd, were given by Do
5 Davis, payable also five years after
BITE! Two others for upwards Of $52, 900
ven by Rufus Brown, Jr., we're also
ladc payable ) years after date!


The bills found in the bank, signed by
bronze as President, and Page as cashier.
nounted to S3,455. No specie or foreign
Vs Of any description ccrc found! Co.
es only Of the bonds and mortgages,
yen as securities, could be found. The
hoIe.amount of specie which appears at
BY time the bongfdc property of the bank
as only $500. Instead of the 10 per
cnt. specie payment, the stock subscribers
Pyc 20 the Treasurer their individual
pes for the instalment payable in specie,
'r which the Treasurer gave Spec1e re.
PPLSl The commissioners further say
herc is no evidence that any i1tstdlntents
4 the capital stock 1cere eUer paid accord
pg to law.


A statement of the condition of the
ank in Jan'ry. exhibiting twenty thousand
D'Iars in specie, which specie consisted o.
% certificates of deposit, one from the
Bank Of Oakland" for $4,000, anc
le from the Clinton Canal Bank" fol


10000. No deposit was made in either
se, the certificates having been loaned


the purpose, and returned the Same
yM


AS there are no entries in any bank
ok designating the issues, it was impos-
Pic to ascertain the number. To mee
liabilities Of the bank, there are dis.
'nntcd endorsed notes amounting tc


O'o6o, individual receipts for exc hange


rPoses for $l,l7O, and the notes of Je


ne, Davis, aud Brown, amounting tc


sum OfSl68, ,629,3O.


These are the institutions which tn,
lckson-V Van Burcn-Bentonian T,ooisl,
rs of Michigand devised to give the com
unity "beltcr curreucy." These ar,
Pratcrs about irrcdccmable bank is


PES.