and Branches, I state that the ordinary discounts of Bank and Branches may be set down in round numbers at $5,000,000, of this amount from 8 to 90,000 have been made at Jackson, a similar amount at Columbia, and at Knoxville, they have never exceeded 300,000 although it would have been permitted to equal the other branches, so that the branch discounts may be set down at about two millions, and have never varied materially since the Bank got fully into operation. These respective proportions at the Bank and Branches have been the result of circumstances, and have a regard to the business transacted in their respective portions of country rather than of any arbitrary rule laid down by the parent Bank, as this has not and could not well be done in many instances. When the situation of the Bank would admit, the branches have been invited to expand, at other times, when deemed advisable, they have been requested to curtail, and. as the same rules were ever applied to the business of the parent Bank, they have not failed to meet with a ready acquiescence at the board of the branches. Hoping the above may be satisfactory, Statement of Dividends declared by the Union Bank of Tennessee, since the commencement of its operations, March, 1837. 15 Amount of Damages charged on bills protested and returned from distant points, since the 25th of May last, by the Bank and Branches is The amount of bills of exchange yet on hand under protest, not yet liqui- ' dated, at this Bank and Branches, is On which, presuming the damages will be charged at 3 per cent, when arranged will amount to, Making in the aggregate 35,562 09 111,859 79 3,355,77 39,917 86 that will have been charged as damages on Bills of Exchange protested and rcturned to the Bank and Branches, since the suspension of specie payments on 25th May last. 16 Rates of Discount for the periods stated within. 1st Period, Bills on New Orleans, 6 months and under, 6 per cent. per annum interest, and Exchange. Over 6 to 12 mo. 8 do. 1 do. Showing the Profits of the Union Bank of Tennessee and Branches, by its different modes of operation for two years past, ending 1st July, 1837. Interest Damages Capital on checks discounted from delinnotes. on sold on dis quent debtors and other sources. Protested Gross Expenses. 4,686 88 928 61 158,420 64 10,321 06 357 33 201,797 09 14,948 60 487 30 162,018 19/12,919 51 13,481 18 226,235 87|15,110 67 $1,802,000 115,482 18 38,251 58 1,972,000 155,955 29 44,555 86 2,430,000 123,624 70 37,258 17 2,537,000 133,309 93 76,074 30 528,372 101196,139 91 648 02 3,370 46 9,633 97 14,325 81 748,471 79 53,299 84 Note. It will be recollected that in the above statement, under the head of Profits "On bills of Exchange," &c. there are included the premium on all the exchange furnished by the Bank and Branches, in checks at sight, on different points of the Union, for the periods specified above. And that in the "Gross profits,” as stated ahove, the expenses current for the two years have not been taken into consideration. |