Bank of the Valley.
To the Editor of the Dispatch:
An article appeared in a late number of your paper, respecting an imputed liability of the Bank of the Valley for a large amount, growing out of endorsements made by her branch at Christians burg, of certain dishonored sterling bills.
The writer of this is in no way connected with the bank, but as he resides in a part of the State
whose citizens are largely interested as stockholders, depositors, &c., he has been led to make inquiries in the proper quarter, as to the facts, and he is enabled to state that the bank is not in the slightest danger of suffering by the transactions referred to, to the extent of a single dollar.
The endorsement of the bills was an extra official act of the cashier, wholly beyond the pale of his authority, and therefore not binding on the bank, which had no manner of interest in the bills.
This statement as made to relieve the minds of parties interested in the bank, as well as stockholders, as depositors and holders of its issues; and it may not be amiss to say here, what will not be contested by any one, that it is fortunately not in the power of bank officers to bind the institutions with which they are connected, by acts not within the sphere of their prescribed duties.
J. H. S.