In compliance with the 12th Section of the act entitled “An Act to increase the Capital Stock of certain Banks &c[etc]” I have the honor herewith, to furnish you, with a full and complete statement, of the condition and financial operations of this Bank and Branches on the 2nd inst. On examination of which, you will perceive, that all the liabilities [of] this Bank, except to the Stockholders, amount to $1.400.458.50 — and that the Bank has the following means, to wit,

As this Bank, with many others, suspended specie payment in November last, it is with pleasure, I inform you, that we are now prepared for a resumption. And as the 15th of January next has been agreed upon, by the Eastern Banks, for the resumption of specie payments, we therefore look

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forward to that time, in hopes to see confidence once more restored, and the currency of our Country fixed upon a safe and sound basis.

During the suspension of specie payments, as above mentioned, it was thought most prudent, by our board of Directors, to declare a smaller dividend than heretofore; believing that it would be more advantageous to the Bank, and render greater security and confidence to the Note-holder. In consequence of which, this Bank has declared a dividend for the last year, of six per cent only, and by this means has added to the surplus fund, during the past year, upwards of Sixty Thousand dollars. And we expect on the first of January next, to add Twenty thousand dollars more, making an aggregate sum, in the space of eighteen months, of about Eighty Thousand dollars, which will hereafter be set apart for a contingent fund.

Under date of the 5th of November 1838, I made a statement to the Auditor of Public Accounts, of the amount of bonus due from this Bank, in the Capital Stock paid in on the 1st of January 1838 and 1839, calculated on the amount of Capital Stock paid in by Individuals and the State. After making this statement, we understood that the bonus was not required to be paid on the State Stock, by the State Bank, or, at least it was not paid by them: and believing that the Legislature would not require more from this Bank, than the State

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Bank, the whole matter has been suffered to remain until this time, without paying any of the bonus. We have now made a statement to the Auditor of Public Accounts, shewing the amount of bonus due, on the Capital Stock paid in by Individuals, up to the 1st of January 1838, 1839, 1840[,] and 1841, which we propose to settle in Auditors Warrants, that have been paid by this Bank. As there appears to be considerable doubt, whether the bonus must be paid on the State Stock or not, we have concluded to adjust the laws in the Individual Stock up to January next, and leave the bonus on the State Stock for future investigation.

All of which is respectfully submitted.