auditor of the State, as soon as he shall be informed of the fact, to take immediate measures against such bank. It is the duty of the commissioners of banks to examine into their condition once in every year. Every bank shall, at the end of each quarter, make a full statement of its funds and business transactions to the State auditor. In writing this book, we have been guided, as far as possible, by the principle of pointing out facts merely, and hence we have generally refrained from expressing our own bare opinions. However, although we do not now intend to go into a particular criticism of the banking laws of Illinois, we cannot forbear from remarking, that, in our opinion, a general alteration and amendment of them is necessary to preserve the people of the State from the great inconveniences which otherwise must sooner or later arise under the present law. According to a statement published by the State auditor, on the 10th of January, 1856, (Congressional Documents, on Banks in 1855, pages 176 and 177,) there were, at that time, forty-five banks in the State of Illinois, having, altogether, stock securities deposited to the amount of $4,134,879.62, while their note circulation reached only $3.514,911 — showing an excess of $619,968.62, in deposits, over the amount of notes in circulation. At the present time, (December, 1856,) there are fifty-two banks in the State, nine of which, however, are about to wind up their business. We here give the names, location, &c., of those fifty-two banks, together with their respective capitals, as shown in the statement above mentioned, the amount of capital stock actually paid in, and the amount of stock securities deposited, with the circulation based thereon; and, also, the maximum capital authorized by their several charters, as it is set down in the Banker's Almanac for the year 1856: E. Marsh, President; Chas. A. Caldwell, Cashier. $100,000 Capital Stock paid in, 59,845.21 Stocks deposited, $61,581.32 Circulation, 51,819 Agricultural Bank — Marion. S. B. Wheelock, President; R. M. Herndly, Cashier. American Exchange Bank - Raleigh. W. H. Parish, President; C. H. Miner, Cashier. Bank of America - Chicago. G. Smith President; E. W. Willard, Cashier. *Charter, Stocks deposited, $89,000 M. V. Hall, President; B. F. Hall, Cashier. Bank of Belleville. Charter, Belleville. $100,000 50 000 E. Miltenberger, President; S. E. Mandelbaum, Cashier. Capital Stock, paid in, 56,990 Bank of the Commonwealth. Robinson. I. N. Whipply, President; I. H. Low, Cashier. A. J. Waldron, President; J. J. Town, Cashier. Bank of Elgin. — Elgin. Capital Stock paid in, $100,000 Stocks deposited, $200,000 94,380 Bank of Galena. Galena. Henry Corwith, President; C. C. P. Hunt, Cashier. * According to Monroe's Bank Note List, $200,000. Bank of Ottawa. Ottawa. (Closing.) B. C. Cook, President; G. S. Fisher, Cashier. Thos. I. Ludus, President; R. M. K. Ludlow, Cashier. Bank of Quincy. — Quincy. Jno. McGinnes, President; M. Boon, Cashier. Bank of Raleigh. Raleigh. Wm. Stadden, President; R. C. Spain, Cashier. Bank of the Republic. - McLeansboro. J. Rockwell, President; C. H. Rockwell, Cashier. Bank of Southern Illinois. - Bolton. E. K. Willard, President; W. L. Joiner, Cashier. Clark's Exchange Bank. - Springfield. (Closing.) N. H. Ridgely, President; Chas. Ridgely, Cashier. Stocks deposited, $21,056.41 *Charter, $200,000 Capital Stock paid in, 10,107.07 10,000 H. Sanford, President; G. E. Loving, Cashier. Exchange Bank of H. A. Tucker & Co. Chicago. (Closing.) H. A. Tucker, President; H. B. Dox, Cashier. (Has returned, as required by law, the amount of notes in circulation, and withdrawn its stocks.) Farmers and Traders Bank. Charleston. W. H. Murstin, President; Thos. A. Marshall, Cashier. Capital Stock paid in, $150,000 Stocks deposited, $157,500 Circulation, 149,785 Grand Prairie Bank. - Urbana. W. N. Coler, President; T. S. Hubbard, Cashier. Lafayette Bank. - Bloomington. W. H. Cord, President; J. L. Stockton, Cashier. Marine Bank of Chicago. — Chicago. J. Y. Scammon, President; B. T. Carver, Cashier. $550,000 Charter, Stocks deposited, $198,767.15 Circulation, 100,705 McLean County Bank. - Bloomington. C. A. Gridley, President; T. Pardee, Cashier. Merchants and Drovers Bank. — Joliet. Wm. Smith, President; R. E. Goodell, Cashier. Charter, $250,000 Capital Stock paid in, 189,638 Stocks deposited, $191,346.92 178,331 Merchants and Mechanics Bank. — Chicago. (Closing.) James H. Woodworth, President. C. C. Merriam, President; W. H. Merriam, Cashier. Morgan County Bank.-Jacksonville. H. R. Reed, President; W. W. Wright, Cashier. E. J. Humphrey, President; W. H. Crawford, Cashier. |
