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1876.] OF THE HOUSE OF DELEGATES. 413
position of Treasurer of this State are as follows: "The
Farmers and Merchants National Bank of Baltimore," "The
Farmers National Bank of Annapolis," and "The Citizens
Bank of Annapolis." The selection of these banks was not
made so much with reference to the amount of their "paid
up capital" as to the character for financial capacity, and the
well known integrity of the gentlemen in charge as manag-
ing officers of the same, viz: J. Hanson Thomas and James
Sloan, Jr., of the first named, George Wells and Louis G.
Gassaway, of the second, and the Hon. Wm. H. Tuck and
J. Harris Forbes, of the third. Each bank first gave
"security satisfactory to the Governor for the safe-keeping
and forthcoming, when required of said deposits." Know-
ing, as I did, that, in the case of a State Bank, if not of a
National Bank, the State, in the event of any trouble with
said bank would be a preferred creditor over all others, and
would be entitled not only to the paid up capital but to any
other matter or property in the form of assets belonging to
said bank, I have not sought to abcertain the amount of
"paid up capital" of each bank, and cannot, therefore, fur-
nish the House this information.
2nd. The amount of money in each bank, standing to the
credit of the State on the 31st of January, 1876, (as published
in three of the Baltimore daily papers on the second or third
of this month,) was as follows: In the Farmers and Mer-
chants National Bank of Baltimore, $77,434.82 ; in the
Farmers National Bank of Annapolis, $90,953.19; in the
Citizens Bank of Annapolis, $34,001.15.
Accompanying this communication are true copies of the
bonds of the several banks received and held by me for the
safe-keeping and forthcoming of the money of the State de-
posited therein, being the only agreements of any kind,
character, or description, entered into by me as an individual,
or as Treasurer of the State, with either or any of said banks
in reference to said deposits, save and except, having learned
from two of my predecessors in this office, that a contingency
would likely arrive when the State would require an advance
from the banks, I had a verbal agreement with the officers of
the Baltimore Bank that they would advance to the State at
any time when such advance would be necessary to meet
urgent demands upon the Treasury such sums as might be
required, free of charge.
This occurred twice during my first term, the State obtain-
ing in 1874, upwards of $70,000, and again in April 1875,
over $80,000.
All of which is respectfully submitted.
BARNES COMPTON,
Treasurer.
The communication was read.
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