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Condition of Virginia Banks.

Farmers' Bank of Virginia, January 23, 1861.
To His Excellency John Letcher, Governor of Virginia:

Sir:
I have the honor to transmit here with a statement of the condition of the Farmers' Bank of Virginia, and its Branches, as it appeared on the 1st day of January, 1861, together with a comparative statement of its condition on the 1st January, 1860, and the 1st, 1861.

I am, with respect.

Your obedient servant,

J. A. Smith, Cashier.

Comparative State of the Farmers' Bank of Virginia, including the Branches, on the 1st day of January, 1860, and the 1st day of January, 1861:

1860.1861.
Debt outstanding$6,027,315.59$5,764,680.74
Sterling bills4,319.665,575.84
Stocks41,426.7641,728.51
specie548,812.90416,120.40
Notes of other Banks in Virginia305,462.54583,276.20
Notes of Banks out of the State21,518.969,987.00
due by other Banks542,494.72308,730.62
Real Estate190,812.79193,606.46
loan to Commonwealth000.00000.00
in transit between Bank and Branches000.007,074.53
$7,771,693.92$7,330,670.30
Capital stock$3,150,900.00$3,150,900.00
Circulation1,769,872.001,532,578.00
Deposits2,227,543.281,931,138.51
due to other Banks130,358.17240,855.56
surplus and Contingent Fund334,010.09337,067.05
Profits of the Institution.145,813.47138,101.18
in transits between Bank and Branches14,164.91000.00
$7,771,693.92$7,330,670.30

Tabular statement--Farmers' Bank of Virginia, Quarter Ending 1st Jan., 1861:

1st January.--Capital$3,150,900.00
1st January--Stocks used as capital41,728.51
Bills Discounted:
1st January.--Payable at Bank and Branches4,618,091.40
1st November.--Foreign bills of exchange payable out of the State1,150,009.74
1st December.--Foreign bills of exchange payable out of the State990,075.40
1st January.--Foreign bills of exchange payable out of the State896,854.55
1st November.--Domestic bills of exchange payable in the State238,484.85
1st December.--Domestic bills of exchange payable in the State262,467.30
1st January.--Domestic bills, of exchange payable in the State249,734.79
1st January.--Bad debts70,773.96
1st January.--Doubtful debts45,437.34
1st November.--Specie384,501.12
1st December.--Specie349,534.27
1st January.--Specie416,120.40
Denomination of Notes issued:
Small bills2,822.00
1's and 2's16,431.00
5's114,415.00
6's, 7's, 8's and 9's25,126.00
10's285,950.00
20's548,430.00
30's33,290.00
50's368,135.00
100's167,950.00
Bank of Potomac3,386.00
1,601,935.00
On hand69,357.00
In circulation$1,532,578.00
1st November--Circulation1,379,994.00
1st December--Circulation1,454,006.00
1st January--Circulation1,533,578.00
Notes of other Banks:
1st January--In the State583,276.20
1st January--Out of the State9,987.00
1st January--Value of Real Estate193,696.46
Dealings in Exchange — Amount purchased2,850,984.14
Amount sold3,072,086.77
Net premiums realized2,427.28
1st January--Contingent fund337,087.05
1st November--Deposits1,590,922.16
1st December--Deposits1,421,722.22
1st January--Deposits1,931,138.51
1st November--Loans to Directors115,792.91
1st December--Loans to Directors116,214.93
1st January--Loans to Directors130,068.93
Dividend declared January, 1861110,281.50
Or 3 ½ per cent. net.
1st November.--Aggregate debt due by the Bank3,302,758.48
1st December.--Aggregate debt due by the Bank3,217,225.40
1st January.--Aggregate debt due by the Bank3,831,843.53
1st November.--Aggregate outstanding debts due to the Bank5,937,510.52
1st December.--Aggregate outstanding debts due to the Bank5,870,859.33
1st January.--Aggregate outstanding debts due to the Bank6,273,670.44

The undersigned, Directors of the Farmers' Bank of Virginia, certify that the foregoing statement has been examined, and is believed to be correct.

Exchange Bank,

Norfolk, January 24, 1861.
His Excellency John Letcher, Governor of Virginia:

Sir:
I enclose a statement of the condition of this Bank on the 31st December, 1860.

I have the honor to be, very respectfully, &c.,

G. W. Camp, Cashier.

Comparative State of the Exchange Bank of Virginia, including the Branches, on the 31st December, 1859, and 31st December, 1860:

1859.1860.
local Loans, &c., outstanding$5,377,248.47$5,257,662.94
Sterling Bills7,242.7721,999.08
Stocks, &c76,811.5690,936.56
specie412,740.21372,511.96
Notes of other Banks in Virginia166,819.78431,758.89
Notes of Banks out of the State17,092.3813,402.21
due by other Banks422,039.84168,662.23
Real Estate174,278.21179,381.12
$6,654,273.22$6,536,314.99
Capital stock$3,088,600.00$3,137,100.00
Circulation1,425,757.501,235,633.50
Deposits1,618,332.491,689,635.46
due to other Banks159,720.00122,638.38
Contingent Fund205,047.67191,584.24
Profits of the institution154,585.01150,586.05
in transits, Bank and Branches2,221.529,137.36
$6,654,273.22$6,536,314.99

Tabular statement--Exchange Bank of Virginia, Quarter Ending 31st December, 1860:

Capital$3,137,100.00
Stock used as capital90,936.56
Bills Discounted, &c.
Payable at Bank and Branches3,768,488.57
Inland and Foreign Bills of Exchange*1,507,903.90
Bad debts00.00
Doubtful doubts4,800.00
Specie372,511.96
Denomination of Notes Issued:
One's and Two's$1,338
Five's263,035
Six's, Seven's, Eight's, Nine's1,347
Ten's442,265
Fifteen's23,340
Twenties'891,440
Fifties'525,125
One Hundred's572,100
2,719,990.00
Circulation$1,235,633.50
Notes of Other Banks:
In the State431,758.80
Out of the State13,402.21
Value of Real Estate179,381.12
Dealings in Exchange, since Sept. 30:
Purchased$1,612,767.67
Sold1,958,917.95
Premium realized8,396.63
Contingent Fund191,584.24
Deposits1,689,635.46
Loans to Directors96,836.54
Dividends unclaimed1,750.00
Aggregate debt due by the Bank3,047,997.34
Aggregate of debt due to the Bank5,984,421.91
Oct. 1.Nov. 1.Dec. 1.
Inland and foreign Bills of Exchange$1,484,793.05$1,464,514.70$1,468,143.61
Specie356,268.49327,044.38318,918.86
Circulation1,801,239.001,236,900.501,213,158.00
Deposits1, 186,849.381,078,362.481,287,950.91
Loans to Directors94,635.4396,400.5399,473.66
Aggregate debt due by the Bank2,663,689.892,522,115.562,715,185.18
Aggregate of debts due to the Bank5,542,872.725,429,517.935,616,325.10

*This includes bills payable at distant points in and out of the State; also, Sterling Bills.

We, the undersigned, Directors of the Exchange Bank of Virginia, certify that the foregoing statement has been examined, and is believed to be correct.

State of Virginia, City of Norfolk, to wit:

G. W. Camp, Cashier of the Exchange Bank of Virginia, this day personally appeared before me, a Justice of the Peace of the city aforesaid, and made oath that the above statement, made out from the books of the Bank and from the quarterly returns received from the Branches, is correct, to the best of his knowledge and belief.

Given under my hand, this 24th day of January, 1861.

R. H. Stevens, J. P.

The Daily Dispatch: February 6, 1861. Richmond Dispatch. 4 pages. by Cowardin & Hammersley. Richmond. February 6, 1861. microfilm. Ann Arbor, Mi : Proquest. 1 microfilm reel ; 35 mm.

Institute of Museum and Library Services National Leadership Grant provided support for entering this text.

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