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Domestic News September 15, 1834

Lynchburg Virginian

Lynchburg, Virginia

What is this article about?

Stockholders of the Bank of the United States met in Philadelphia on September 1, 1834, adopting resolutions thanking President Nicholas Biddle and directors for management, expressing confidence, and reviving a push for charter renewal amid reports on debts and finances.

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DOMESTIC NEWS.
BANK OF THE UNITED STATES
At a general triennial meeting of the stockholders of the Bank of the United States, held in their Hall, in the City of Philadelphia, On Monday the 1st day of September, 1834.
Robert Ralston, Esq. was called to preside, and Joseph Hemphill, Esq. appointed Secretary.
Nicholas Biddle, Esq., the President of the Bank. on behalf of the Board of Directors, submitted to the stockholders, in compliance with the 13th article of the 11th section of the Bank, " an exact and particular statement of the debts which have remained unpaid after the expiration of the original credit for a period of treble the term of that credit, and of the surplus of the profits, if any, after deducting losses and dividends."
He also presented a general view of the present situation of the Institution, showing the amount of its liabilities and resources.
Whereupon, the following resolutions, moved by Joseph R. Ingersoll, Esq. were read and unanimously adopted :
Resolved, That the thanks of this meeting be, and they are hereby, presented to the President of the Institution and the Board of Directors. for the fidelity and skill which they have manifested in the management of the concerns of the Bank
Resolved, That the stockholders feel continued and undiminished confidence that the further administration of the concerns of the Bank will be conducted with wisdom and zeal by those who have heretofore so satisfactorily directed them-and that the last resolution adopted at the triennial meeting of the stockholders. held on the 1st day of September. 1831, which authorises the President and Directors to make application for a renewal of the charter, and to accept such terms of renewal as they may consider just and proper, is hereby revived and continued
On motion of Richard Price, Esq., the proceedings of the meeting, signed by the Chairman and Secretary, were ordered to be published, and the meeting then adjourned.
ROBERT RALSTON. Chairman.
JOSEPH HEMPHILL, Secretary

What sub-type of article is it?

Economic

What keywords are associated?

Bank Of The United States Stockholders Meeting Charter Renewal Phadelphia Nicholas Biddle

What entities or persons were involved?

Robert Ralston Joseph Hemphill Nicholas Biddle Joseph R. Ingersoll Richard Price

Where did it happen?

City Of Philadelphia

Domestic News Details

Primary Location

City Of Philadelphia

Event Date

Monday The 1st Day Of September, 1834

Key Persons

Robert Ralston Joseph Hemphill Nicholas Biddle Joseph R. Ingersoll Richard Price

Outcome

resolutions unanimously adopted expressing thanks to the president and directors, continued confidence in their management, and revival of the 1831 resolution authorizing application for charter renewal.

Event Details

At a general triennial meeting of the stockholders of the Bank of the United States held in Philadelphia, Robert Ralston presided and Joseph Hemphill served as secretary. Nicholas Biddle presented a statement of unpaid debts and surplus profits per bank rules, along with a view of the institution's liabilities and resources. Resolutions moved by Joseph R. Ingersoll were adopted, thanking the President and Directors for their management and renewing confidence and the charter renewal authorization. Proceedings ordered published by motion of Richard Price.

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