BRANCH BANK STATE oF ALARAMA ,
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- MOBILE, June l9, 1889.

 M HEREAS, certain specuations and rumors

 W growing out ot a transaction of F. Shaw X Co. with ths Institution, having created considerable ex- ctenent in the public mind and some of the papers having undertaken to give statement of the charlc- terof the negotiations most of which unfounded in fact,-

 Be it therefore ordered by the Board of Directors o the Branch of the Bank of the State of Alabama al Mobile, that the following facts connected with the transaction be laid before the public, the same being as well due to F. Shaw & Go, as to those who were oihealy associated with the Bank the time of this negotiation. On the first day of December, 1840, a proposition was submitted by F. Shaw & Co. upon which lhe following action of the Board was had and agreed to by F. Shaw & Co. under which these bills taken.

 ''F. Shaw & Go. Bills at sixty days sight on New York for $l00,000, in suit them, are to be taken at per ct less than rates out of doors at the time their bills may be offered, with letter of credit endorser ;-and their five months date Sterling at per cent less than current out of doors-bils to be either special or mdorsed'' The above is true extract from the minutes of the Board

 The bills of F. Shaw & Co. were taken under this agreement to the amount of $S5, ,000 on New York, and $lO6,222 21 on Liverpool, acceptance waived.

 That there existed any other understanding, either expressed implied, in relation to the negotiation of these bills, is false. Each member of the Board together with the Cashier and other officers of the Bank, are prepared to be qualified that there was no other understanding with F. Shaw 8. Co., touching said negotiation, than the one above referred

 It was of course expected then, these bills were to paid at maturity, and being special, were predicated upon shipments of cotton. The bills taken on New York were promptly paid at maturity, but the Presi- dent and Cashier upon calling upon the junior part ner of the house, Mir. G. Horton, were informed by him that no cotton had been shipped Liverpool, or provision made for the protection of these bills on Liverpool, and ascertaining through their Liverpool agent, A. Pope, Esq. that the drawers of said bills Messrs. Brown, Shipey g. Co, had informed him no information had been received by them from the draw CTS, Messrs Shaw & Co. of such bills being drawn upon them, or of any arrangement having been made for their payment. It was therefore determined un- der this state of facts, the agent of this 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 manner as in hls judgment would be most conducive te the interest of the Bank, which he has subsequently done. By order of the Board,

 lune2l 9u B. GAYLE. Cashier