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: Alton Bank Alton. E. Marsh, President; Chas. A. Caldwell, Cashier. Charter, 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. Capital Stock paid in, 50,000 Bank of Belleville. M. V. Hall, President; B. F. Hall, Cashier. Belleville. E. Miltenberger, President; S. E. Mandelbaum, Cashier. 56,990 Charter, $100,000 Capital Stock, paid in, 56,990 Stocks deposited, $89,000 50 000 Circulation, Charter, Bank of Northern Illinois. Waukegan. Stocks deposited, $200,000 Circulation, 94,380 G. C. Smith, President; P. C. Briggs, Cashier. $100,000 Charter, W. Scott, President; A. Keith, Cashier. Stocks deposited, $104,814.75 Circulation, 73,668 Stocks deposited, $100,000 90,950 Stocks deposited, $55,000 52,780 C. D. Bickford, President; Chas. R. Steele, Cashier. Stocks deposited, $53,000 Circulation, 50,000 * According to Monroe's Bank Note List, $200,000. Bank of Quincy. — Quincy. Bank of Raleigh. Thos. I. Ludus, President; R. M. K. Ludlow, Cashier. Jno. McGinnes, President; M. Boon, Cashier. Bank of the Republic. - McLeansboro. Raleigh. Wm. Stadden, President; R. C. Spain, Cashier. Stocks deposited, $25,000 20,500 Stocks deposited, $55,000 Circulation, 50,002 *Charter, $100,000 Capital Stock paid in, 80,000 Central Bank. - Peoria. A. Neely, President; Chas. Neely, Cashier. Charter, Chicago Bank. — Chicago. Stocks deposited, $75,000 68,550 E. B. Elwood, President; S. Matteson, Cashier. Charter, Stocks deposited, $31,000 29,397 Stocks deposited, $50,500 47,975 Thos. Burch, President; I. H. Burch, Cashier. Stocks deposited, $119,328.25 Circulation, 50,014 Clark's Exchange Bank. - Springfield. (Closing.) N. H. Ridgely, President; Chas. Ridgely, Cashier. Stocks deposited, $21,056.41 10,000 *According to Monroe. Farmers and Traders Bank. Charleston. H. Sanford, President; G. E. Loving, Cashier. Charter, Capital Stock paid in, $150,000 Grand Prairie Bank. - Urbana. Grayville Bank. Exchange Bank of H. A. Tucker & Co. Chicago. (Closing.) $1186 (Has returned, as required by law, the amount of notes in circulation, and withdrawn its stocks.) Stocks deposited, $27,000 25,005 W. H. Murstin, President; Thos. A. Marshall, Cashier. 149,785 Hamilton County Bank. Stocks deposited, W. N. Coler, President; T. S. Hubbard, Cashier. Capital Stock paid in, $331,698.91 McLeansboro. Stocks deposited, Grayville. E. Chasy, President; L. B. Clark, Cashier. Capital Stock paid in, $110,000 Lafayette Bank. - Bloomington. $60,000 52,300 $5000 4470 W. H. Cord, President; J. L. Stockton, Cashier. Stocks deposited, $458,297.86 331,696 Stocks deposited, $110,000 Marine Bank of Chicago. — Chicago. J. Y. Scammon, President; B. T. Carver, Cashier. } Stocks deposited, $198,767.15 McLean County Bank. - Bloomington. C. A. Gridley, President; T. Pardee, Cashier. 65,000 Charter, Merchants and Drovers Bank. — Joliet. Charter, Wm. Smith, President; R. E. Goodell, Cashier. *Charter, Mississippi River Bank. Oxford, Merchants and Mechanics Bank. — Chicago. (Closing.) National Bank. - Equality. Stocks deposited, $68,000 64,998 C. C. Merriam, President; W. H. Merriam, Cashier. Stocks deposited, $191,346.92 178,331 Morgan County Bank.-Jacksonville. H. R. Reed, President; W. W. Wright, Cashier. Capital Stock paid in, $464,516 Prairie State Bank. - Washington. Stocks deposited, E. J. Humphrey, President; W. H. Crawford, Cashier. 74,376 Capital Stock paid in, $80,000 Peoples Bank. - Carmi. S. Vorhies, President; E. Dodge, Cashier. Capital Stock paid in, $104,160 J. L. Marsh, President; H. Lee, Cashier. Stocks deposited, $500,000 Railroad Bank. - Decatur. P. D. Kline, President; C. H. Fuller, Cashier. $6000 5561 Stocks deposited, $115,000 Circulation, 104,160 Rock Island Bank. Rock Island. (Closing.) M. B. Osborn, President; S. H. Mann, Cashier. $100,000 Stocks deposited, $50,000 48,050 Stocks deposited, $18,000 16,007 * According to Monroe. |
