Letter from H. A. Schroeder, president of the Southern Bank of Alabama in Mobile, Alabama, to Governor A. B. Moore in Montgomery, Alabama.
Item
Identifier
RSG00248_f11_Q0000135266_Q0000135267
Title
Letter from H. A. Schroeder, president of the Southern Bank of Alabama in Mobile, Alabama, to Governor A. B. Moore in Montgomery, Alabama.
Rights
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Type
Text
Creator
Schroeder, H.A.
Date
1861 March 16
Description
A letter from H.A. Schroeder as the president of the Southern Bank to Governor A.B. Moore in response to a past letter. Schroeder discusses having an issue with bonds as they do not have the proper funds requested by Moore. As the president he is requesting a different method to pay them off as interest rates payable to Montgomery are not possible.
Format
letter
Place
Mobile (Ala.)
Publisher
Alabama Department of Archives and History. (electronic version)
Contributor
Lauren Mitchek
transcription
CAPITAL - - - $1,000,000
SOUTHERN BANK OF ALABAMA
MOBILE, 16 Mar 1861
Dear Sir,
I have received your dis-
patch of 15 inst, & will lay it
before our Board of Directors
at their meeting on the 19 inst.
I must state, however, that
there is no probability of
our taking the amount of
bonds that you mention -
We have not the amount
of money to spare, without
withdrawing it from the
commercial community, &
this would encrease the
pressure that we are en-
deavouring to diminish -
We could make arrange-
ments perhaps, to take
H. A. SCHROEDER,
President.
D. C. SAMPSON,
Cashier.
more of the bonds, if there
was a probability of our
being able to dispose of them,
hereafter, even at a slight
loss - but in their present
shape, they are unsaleable
here, except at a heavy
loss - as the interest is
payable annually, & paya-
ble at Montgomery - the
latter an almost insupe-
rable objection, owing to
the discount on the col-
lection, which diminishes
the income.
I remain
Yours resp,
H. A. Schroeder
Prest
His Excellency
A. B. Moore
Montgomery
SOUTHERN BANK OF ALABAMA
MOBILE, 16 Mar 1861
Dear Sir,
I have received your dis-
patch of 15 inst, & will lay it
before our Board of Directors
at their meeting on the 19 inst.
I must state, however, that
there is no probability of
our taking the amount of
bonds that you mention -
We have not the amount
of money to spare, without
withdrawing it from the
commercial community, &
this would encrease the
pressure that we are en-
deavouring to diminish -
We could make arrange-
ments perhaps, to take
H. A. SCHROEDER,
President.
D. C. SAMPSON,
Cashier.
more of the bonds, if there
was a probability of our
being able to dispose of them,
hereafter, even at a slight
loss - but in their present
shape, they are unsaleable
here, except at a heavy
loss - as the interest is
payable annually, & paya-
ble at Montgomery - the
latter an almost insupe-
rable objection, owing to
the discount on the col-
lection, which diminishes
the income.
I remain
Yours resp,
H. A. Schroeder
Prest
His Excellency
A. B. Moore
Montgomery
Subject
Moore, A. B. (Andrew Barry), 1807-1873;
Schroeder, H. A.;
Southern Bank of Alabama;
Governors--Alabama;
Alabama--Economic conditions;
Alabama--Politics and government--To 1865;
Banks and banking--Alabama;
State bonds--Alabama;
United States--History--Civil War, 1861-1865;
Mobile (Ala.);
Mobile County (Ala.)
Schroeder, H. A.;
Southern Bank of Alabama;
Governors--Alabama;
Alabama--Economic conditions;
Alabama--Politics and government--To 1865;
Banks and banking--Alabama;
State bonds--Alabama;
United States--History--Civil War, 1861-1865;
Mobile (Ala.);
Mobile County (Ala.)