September Ist, I8tl

NOTE.
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NO E..

 Ertract from tbe Report oftAc President of

 tte Reat Estate Baah, 10 the Legislature

 of 1898:

 "A large portion of the half million of dollars, received from the Secretary of the Treasury, was offered to be paid in gold, at the Mint, in Philadelphia; but, as the fund had been received in foreign coin, il had to undergo the process of rccoining before the Secretary was willing to pay 1t out The delay which would necessarily have follow cd, awaiting the completion of the coinage, and the @tter impossibiIitv of getting the gold down the Ohio river, in consenuence of the low stage of its waters, and the sus- pension of all navigation on it, coupled with the fact that the commissioners were fully advised, of the intention of all the Southern and Western Banks, to resume the payment of specie on the first day of January. 1899, induced them, 10 invest the whole funds in Western and South-Western bank paper, which was done, at such rates of discount, as will secure to the Bank profit of about S20,000. These funds have mostly been deposited at various points, with which the citizens of this State have connection and trade, and will be drawn on in the course of business, as the wants of the community re- quire, and al such reduced rates of exchange as will relieve t from the runous state of things which grew out of the recent unfor- tunate endorsements of our common coun- try. We can now draw at sight on New Orleans, Natchez, Louisville and Cincinna- H'1