BRANCH BANk STATE OF ALABAMA, {
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MOBILE, June ly, l559. EEJ nE2EAE, rcttan sreculaians aud iumo's W growing odt oi a transaction o shaw N Co. with tha lusttutiOu ha,ins created considerable e. cteheut in tie I.bIic mind, and some of the papers having undertaken to give eatemeht oi the charac- fer ot the station, most of winch is uHiounded n fact,-

 Be ii therefore ordered by the Board of Directors U the Branch o the Bank ol the State of Alahama at hoLiie, that the following facts connected with lie transaction be laid before the pubc the being IS we'll tue ta I. Shaw S Co, 10 those who were rally associated with the bauk the tune of this negotiation. Un the hrst dly of December, l940, a proposition submitted by r. Shaw L Co upon which the following action of the Board was had and agrsedto by r. Shaw X C.. under which these bills were tSken

 "F shaw & Co. Bills al sixty days sight on New felk for 10000, m sums to suit them, are to be taken at per less than rates out of doors, At the time their bs may be offered, with letter of credit or an endorser and their i've months date Sterling al per cent less than current rates ont of doofs--bls to be either spe.ili tnd,ysed." The above is extract from the minutes of the Board.

 The bills of F. Shaw & Co., we're taken under this agreement to the amount of 1000 on New \ ork, aad Sl06, 222 2l on Liverpool acceptance waved.

 That there existed any other understanding, either expressed or implied, Tn relation to the negotiation of these bills, is Jalse. Each member of the Board, together with the Cashier and other officers of the Bank, prepared tO be qualified that there was no other understanding with F, Shaw g Co., touching said negotiation, than the above referred.

 II was of course expected then, these bills 10 paid at maturity, and being special, were predicaed upon shipments of cotton. The bills taken on New York were promptly paid al maturity, but the Presi- dent ant Cashier upon calling upon the junior part ner of the house, Mir. q. Horton, were informed by him that cotton had been shipped to Liverpool, or pro, ision made for inc protection of these bills on Liverpool, and asceraining through their Liverpool agent, A. Pope, Esq that the drawers of said bills, Messrs. Brown, ShipIey $ Co, mad informed him no information had been received by them from the draw CTS Mrssrs F shaw & Co of such bills being drawn upon them, of any arrangement having been made for their payment. 1t was therefore determined, un- der this state of facts the agent of lhls Bank in New York, Jno. J. Palmer Esq be instructed to call on the senior partner F. Shaw, Esq then in New York and arrange with him for the payment of these bills in such in hls judgment would be most conducive ts the interest of the Bauk, which he has subsequently, done. By order of he Board,

 inne2l 9lf B. GAYLE, Cashier.