Ocean Insurance Company,... N. O. Canal and Banking Company,... Mechanics' and Farmers' Bank, Albany, Merchants' Insurance Company, Albany,. Camden and Amboy Rail-Road,. Bank of Rome,.. Bank of Lockport, 1,050 00 25 35 35 do do ... ... Bowery Insurance Company,. 2,100 00 120 25 Greenwich Bank, 13,822 58 627 25 8 Above par. 8 per cent advance. Above par. 27 per cent advance. Above par. do 5 per cent advance. do do Phenix Bank, 11,470 00 384 25 21 do do Mohawk Rail Road, 32,565 00 390 100 7 per cent discount. Commercial Insurance Company, 7,600 00 170 100 40 do do Long-Island Insurance Company, 3,740 00 90 50 20 do do Union Insurance Company,. 1,850 00 70 50 25 do do Patterson Rail-Road, .... 18,568 00 450 50 15 do do Planters' Bank of Tenessee, 4,128 00 79 55 Above par. Tioga Navigation Company, 3,654 00 203 20 do Neptune Insurance Company, 3,175 00 60 50 14 per cent premium. Commercial Bank of N. O., 4,600 00 90 50 1 do do Merchants' and Traders' Bank, N. O.,. 39,000 00 819 50 3 do do Boston and Providence Rail-Road, ... 13,650 00 150 100 8 do do Above par. Loans on paper,..... 6,839 08 [Assem. No. 143.] With the exception of the above loans on Phoenix and Trader's Fire Insurance Company stocks, by the faiure of which it is believed there will be a loss of about $800, there are none on which interest has been due more than six months, nor the interest on which has not been paid when due and called for. There are, of course, none in suit nor ordered for prosecution, nor are there any where the principal and interest due thereon exceeded, on the 1st day of January, 1836, the market value of the stocks pledged for the security thereof. The general rule is, to loan on stocks at ten or fifteen per cent below the market value, so to be kept by agreement, Market value. Of the above there is loaned for 6 months and over, $109,417 40 Less than 6 months,.... Payable on demand, 15.500 00 466,011 95 $590,929 35 4. The amount of loans on bonds, bills, or notes, with personal security only, other than loans to or for the use of monied corporations, was, on the 1st day of January, 1836, $1,349,924.68. The amount of the last mentioned loans payable on demand, the amount loaned for a less period than six months, and the amount loaned for six months and over, is as follows: Of the above loans, there are none on which interest has been due six months, nor any in suit, nor ordered for prosecution, nor are there any under protest, except the following: Two for $5,000 each, which owing to the death of the drawer, have not been paid when due, and one for $300, protested for non-payment. The above notes are believed to be perfectly good, and that no loss will be sustained on either of them. 5. To the interrogatory, what is the amount due from persons on account, other than loans, to or for the use of monied corporations? the trustees beg leave to answer, none. No money is allowed to remain in the hands of the president or secretary, excepting as officers of the company, but is deposited before three o'clock each day in bank, nor of any trustee or agent of the company; nor has any money been loaned, but on bonds, mortgages, bills, stocks, or other securities, nor without such securities being approved and in the office, or believed to be in the hands of a person authorized to receive them. 6. The whole amount of interest duc on loans, other than to monied corporations, was, on the 1st day of January, 1836, $64,636 36. In the above $64,636.35, there is included the sum of $5,406.01, in which there has been a failure in the payment of interest, over six months. Of the $64,636.36, there has been received since the 1st January, 820,519.64. 7. No loan has been made to any monied corporation, or to their officers or agents, for the use of said corporation. 8. The company own, in their own right, the following stocks: The Board, in construing the 17th section of the charter of the company, limiting the amount of stock which the company may hold in any private incorporated company, to twenty-five thousand dollars, have decided it to be the intention of the Legislature, that the limitation should be confined to the par value of the stock, and should not extend to the market value of the same. A different construction would prevent the Board from directing the number of shares to be bought in the stock of each incorporated company, and would oblige them to diminish and increase, from day to day, the number of shares held in each company, according to the daily fluctuation of the price, in the market value of each stock. The propriety of such decision is respectfully submitted to the Chancellor. 9. The company are the owners of a lot and building in Wallstreet, in the city of New-York, twenty-seven feet on Wall-street, and one hundred and sixteen feet deep, where the company's office is now kept, purchased for the sum of $37,000; expended thereon for permanent improvements other than for ordinary repairs, $5,861.85. Of this property, about one-fourth in value is occupied by the company, for the transaction of its business. |