Tombigby Rail Road Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 6, 1840
Location: Columbus, Mississippi (33.496, -88.427)

Metadata

Model: gpt-5-mini
Short Digest: 68df88ff

Response Measures

None

Description

Governor McNutt issued a proclamation (dated June 6, 1840) declaring the Tombigby Rail Road Company forfeited its banking powers after the company refused to pay specie on presented notes (presentments shown April 10 and May 4, 1840). No run is described; the action is a government declaration of forfeiture (closure).

Events (1)

1. June 6, 1840 Suspension

Cause: Government Action
Cause Details: Governor's proclamation declaring forfeiture of banking powers after certified presentments and refusals to pay specie on notes (presented April 10 and May 4, 1840).
Newspaper Excerpt: Now, KNOW Ye, that being satisfied that presentment of said note has been duly made and payment thereof refused, I do, by virtue of the authority in me vested by the constitution and laws of this State, issue this my PROCLAMATION, declaring that the Tombigby Rail Road Company has forfeited all its banking powers and privileges.
Source: newspapers

Newspaper Articles (1)

1. July 4, 1840 Columbus Democrat Columbus, MS

Article from Columbus Democrat, July 4, 1840

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Article Text

A Proclamation. By Alexander G. McNutt, Governor of the State of Mississippi. HEREAS, it is provided in the eighth section W of "an act requiring the several banks in this State to pay specie, and for other purposes," ap proved February 21. 1840, that from and after the first day of April next (thereafter,) all the banks and moneyed corporations in this State, shall be required to pay specie at their counters, respectively, for all their notes or liabilities then due, of the denomination of five dollars and under."-And whereas it is further provided, in the ninth section of said act, "that should any bank 01 moneyed corporation in this State, from and after the times prescribed in the preceding section of this act, refuse to pay specie on its respective liabilities as therein specified, and in the manner therein prescribed, it shall be the duty of the president, cashier. or teller, of such bank, to place his name, together with the date. on the back of such note or evidence of liability, on presentation thereof, which said endorsement shall be held and deemed sufficient evidence et protest and refusal of the bank to pay specie. - And whereas it is further provided. in the tenth section of said ac. "that whenever the Governor, either from the cer. tificate of the president, cashier, or teller, as afore. said, or by affidavit of the holder of any such note, bill, or other evidence of debt, shall be satisfied that such presentment has been duly made and payment refused, he shall forthwith issue his proclamation, declaring that said corporation has forfeited all its banking powers and privileges"- - whereas M. Simsdid, on the 10th day of April, A. D.1840. present a note (in the words and figures following, to wit: No. 202, A. The State of Mississippi, Tombigby Rail Road Company, will pay five dollars on demand to Chas, Walsh or bearer at their bank, Columbus, 1st March. 1837. H. W. Cater, cashier : A. N. Jones, pres's.") to B. Halstead. teller of the Tombigby Rail Road Company, and demand payment thereof, in specie-And whereas said tel. ler did then endorse thereon .. M. Sims demanded specie for this note which was refused; B. Halstead, teller." And whereas, afterwards, to wit: on the 4th of May, 1840, John Thornton, a justice of the peace in and for the county of Lowndés, and ex officio, notary public, did at the request of Cvrus S. Aiken, demand payment of said note, at the tank of said company, and payment thereof was then and there refused. Now, KNOW Ye, that being satisfied that presentment of said note has been duly made and payment thereof refused, 1 do, by virtue of the authority in me vested by the constitution and laws of this State, issue this my PROCLAMATION, declaring that the Tombigby Rail Road Company has forfeited all its banking powers and privileges. In testimony whereof, I, ALEXANDER G. McNUTT, Governor of the State aforesaid, have caused these letters to be made patent. and the great seal of the State to be hereunto affixed. Given under my hand at the city of Jaek son, this 6th day of June, A. D. 1840, [L. s.) and of the sovereignty of the State of Mis sissippi the twenty-third. A. G. McNUTT. By the Governor. THOMAS B WOODWARD. Secretary of State. Jackson, Mi. June 13, 1840. w The Mississippian, Columbus Democrat, Grenada Reporter, and Eastern Clarion will insert the above weekly four times.