Article Text
Fort Plain Bank. This institution has suffered, temporarily, from the late "flurry," and the attempt of brokers to cast suspicion upon all the banks which it was possible, in order that they might be enabled to buy good notes at a discount. We believed it was suffering unjustly, and we are glad to find the expectation true. The bank is organized under the New York Free Bank law, and the system which that law has created is considered one of the soundest in the country. There is considerable of its currency afloat here, which makes a knowledge of its condition a matter of interest to our people. The following letter from its Cashier, to Messrs. Ford, Gorham & Ford, will doubtless help to restore that confidence which has been somewhat skaken, and gratify bill-holders : , FORT PLAIN BANK, Fort Plain, N. Y., Aug. 27, '57. MESSRS. FORD, GORHAM & FORD- Gents: I was somewhat surprised to notice in a this morning's Albany paper a paragraph to the effect that the notes of this Bank, among several others, were thrown out by the New York brokers. I was surprised, because at this moment our account is good in the Metropolitan Bank for $13,000, and in the N. Y. State Bank, Albany, for $18,000. Some malicious scoundrel has done this to injure us, or the N. Y. brokers have done it to take the advantage of the present panic by redeeming notes at a discount. We have not, in six years, lost one dollar by a bad loan. We have a surplus of $19,000, a moderate line of discounts, and have not in six years been in a sounder condition than now. I write you at once, 80 that if any such rumor as the above should reach you, you may promptly contradict it and save our circulation from being returned upon us unnecessarily. Yours truly, D. F. YOUNG, Cash.
