The following statement and explanatory remarks are submitted for the information of the stockholders of this bank ...

Tsmt

The following s
Conf Pam #707

IBank of Camden, So. Ca., i

,Tuly 1, 1802. ^

The following staleiiieul and explanatory remarks arc submiUcd for the information of ilio St,ocl<iiol.l.Mv
of this Bank, viz :

Capital $4:.0.000 OOjSpecic i^^'JMir, \::

Circulation, M.s.:)72 .'.o Konl Kslalc, . - . . . 'sOUO Oi,

Deposits, ...... Tl.i'iT 24

Balance duo Banks in this State, . 1'2t\ Ij2

oilier States, . !<> W

Bills ofotlier Banks. . . • . HJ,.")1-1 n

Balance t'roni IJanks in tins State. . *'>Mi ''■-

banks in other Slates. . . . ■-';iO U'

Xet profits (appearing on the book.s, be- jTreasnry Notes, .... i;{, .:;.» .>.•

sides interest accruing but not paid,) T.SSO 01 .\uencies, :!.'),2Si; •!!•

Note.« li'.--!'--* '-^

Bonds — private. i:i;i,0-'> ■''-
Sta'o. 0.000 On

•■ Conrederatc, 20.0(0 01 —

.'i 1.020 f-2
Domestic K.xchan^re, liO.ori lU

Su.'^pended ]Jel)t, 4:?0.:«25 M

$(J79.00:i rta

JC.TJ.OO:? «i

The magniiudo of the suspense account, will, doubtless, attract attenlion. Payments had almost entirely
ceased, and the alternative was to renew i.otes indelinitely, at (5 per cent, discount, involving miicli iueon-
venience to all jiartics, or let all paper a.s it niattu-ed pass into the snspen.se account and bc.ir 7 per cent, in-
terest. The latter course was deemed beat, and lieticc the cxtraonlinary amount under this head.

Our Western paper, which was all deumod good, being nearly all drawn by responsible planters on tliu
best houses in New Orleans, bears h-om 8 to 10 percent, by contract, and amounts to about .$100,000. Our
paper here is all considered good, and can only be made otherwise liy a di.sastrous course and termination ot
the war.

The accriung interest on our wliole mts-; of p.iper, will ii?l pro'iably $40,000 by the 1st of July ISO."!,
up to which period the usual dividends of 8 per cent, p.-r annum, are /).-<;-paid. This, with the profits ap-
pearing on the books, and interest already accruei, say .^40.000, or m tre, will amount to $80,000 by said
ist Jul^-, 18G3, and it may be deemed expedient t()y>/x'-pay the dividend for Jtdy ISO:).

The pre payment of the dividend for Juh', instant, an V J xananj next, was an extraordinary proceeding,
but right every way, being vary opportune for many of the? stjckholder.s, -.md prudent and proper for other
reasons. Our assets are good for three times the amount of all our liabilities; we have been, and will con-
tinue to be, ready to meet all current demands upon ns; the amount of profits on the 1st instant, from
which the next January dividend was pre-paid, was really about $GO,000— that dividend was §!1 8,000, leav-
ing more than $40,0(.iO. We held some $70,000 of Treasury Kules, besides Bank Notes and other available
means adeciuate to meet tlie pro-paid dividju I, an I all tho im'.n3diate liab lities tint we may reasonably e.x:-
pect to have to meet. Our notes have ceastd to return upon us for redemi)tion, and we do not expect that
'■hey will be returned whilst the war lasts, and Treaamy Koies c mtiuue to increase in amount. These notes
are current money— <7te money— and available now to the stock liolder.s who mostly need the dividends at
this time. The course, therefore, though unusual, was right, prudent and proper every way to all parties—
toward the country and the creditors of the Bank, and toward the owners of the funds divided.

Save the amounts heretofore mentioned in our circulars, as very doubtful, say some $8,000, there are no other
debts due us considered as in that condition, if the war should now terminate, or continue without over-
whelming disasters and suhjajation, or ruin— io one or the other of which conditions it is the fixed and dia-
bolical resolve of the enemy to reduce us! Should the war end now, we are not much hurt, and would
soon recover our position, and again prosper with the prosperous advance of the grand Soidhern Confederacy.
Our taxation for nilcrest of a debt of $400,000,000, with other expenditures, would be enormous, but the ex-
penditure would be made at home, and the exhausti.ig Tribute to Yankee-dom, direct and indirect, would
then have ceased forever.

The money and other assets of the Bank have been counted and examined, and found to correspond with
the books, and we are ready at a minute's warning, upon the approach of the enemy, to change the location
ul the Bank, and have, hy 2}rivate circulars, notified all depositors, special and general, in case of interior
invasion, to call promptly for their deposits. Oiu- notes arc carefully counted and sealed up, under the seal
(if the Board, in strong boxes, ready for burning whenever the necessity becomes manifest.

W. E. JOHNSON, President.
W. II. R. WoKK.MAX, Ca.shifr.

c^.

//

■^

pH8.5