﻿ESAREY: STATE BANKING IN INDIANA 



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never to exceed twice its paid up stock, and its directors were made- 

 liable for such excess in a Common Law suit for debt. 



The capital stock of the Vincennes Bank was increased from 

 $500,000 to $1,500,000, of which $375,000 might be subscribed by 

 the governor, as soon as he thought it advisable. The charter was 

 to last twenty-one years. The intention of the incorporators was 

 to acquire a complete monopoly of the banking business of the state. 

 That the business was well planned to carry out this intention will 

 be shown by a careful study of the political situation in Indiana, 

 and of the men interested in the bank at Vincennes. 



The first branch, with a capital stock of $20,000, was to be 

 organized by Joseph Pegg, Aaron Martin, and John Sprow, at 

 Centerville. The second branch, with a capital stock of $35,000, 

 was to be organized by William H. Eacls, Robert John, and John 

 Jacobs, at Brookville. The third branch, with a capital stock of 

 $35,000, was to be organized by Isaac Dunn, John Gray, and David 

 Rees, at Lawrenceburg. The fourth branch, with a capital stock 

 of $20,000, was to be organized by John Gilliland, Lawrence Nichol, 

 and Daniel Dufour, at Vevay. The fifth branch, with a capital 

 stock of $30,000, was to be organized by David H. Maxwell, John 

 Sering, and Alexander Meek, at Madison. The sixth branch, 

 with a capital stock of $35,000, was to be organized by James Scott, 

 Evan Shelby, and A. P. Hay, at Charlestown. The seventh branch, 

 wi th a capital stock of $10,000, was to be organized by John Ketcham, 

 Alexander C. Craig, and John McCormick, at Brownstown. The 

 eighth branch, with a capital stock of $10,000, was to be organized 

 by John G. Clendennin, William Lindley, and Thomas Fulton, at 

 Paoli. The ninth branch, with a capital stock of $30,000, was to 

 be organized by Marston G. Clark, John Lyon, and Samuel Craig, 

 at Salem. The tenth branch, with a capital stock of $35,000, was 

 to be organized by Allen D. Thom, David Craig, and Milo R. Davis, 

 at Corydon. The eleventh branch, with a capital stock of $10,000, 

 was to be organized by John Stephenson, Solomon Lamb, and 

 Thomas Morton, at Troy in Perry county. The twelfth branch, 

 with a capital stock of $10,000, was to be organized by Daniel 

 Grass, Hugh McGary, and RatUff Boon, at Darlington on Pigeon 

 Creek. The thirteenth branch, with a capital stock of $10,000, was 

 to be organized by Frederick Rapp, Thomas E. Castlebury, and 

 Thomas Gibson, at some point to be selected in Posey county. 

 The fourteenth branch, with a capital stock of $10,000, was to be 

 organized by William Prince, Robert M. Evans, and James Jones 

 at some point to be selected in Gibson county. 



