Grand Gulf Rail Road & Banking Company

Bank Information

Episode UID: 1108790890493
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 110879089 hash
Start Date: January 22, 1841
Location: Grand Gulf, Mississippi (32.033, -91.053)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: b7e541c03d84faa1

Response Measures

None

Description

Article reports a legislative bill to wind up the bank (voluntary liquidation); no runs or suspensions described beyond winding up.

Events (1)

1. January 22, 1841 Suspension

Cause: Voluntary Liquidation
Cause Details: Legislative bill reported authorizing the Company to wind up the bank following petition of northern stockholders
Newspaper Excerpt: petition of the northern stockholders of the Grand Gulf Rail Road and Banking Co., reported a bill authorizing the Company to wind up the Bank
Source: newspapers

Newspaper Articles (1)

1. January 22, 1841 The Yazoo Whig and Political Register Yazoo City, MS

Article from The Yazoo Whig and Political Register, January 22, 1841

Click image to open full size in new tab

Article Text

to examine and report such of the documents accompanying the Governor's Message, as they might deem necessary, reported that they did not deem it necessary to publish any of them. Mr. Magruder, from the committee to whom was referred the petition of the northern stockholders of the Grand Gulf Rail Road and Banking Co., reported a bill authorizing the Company to wind up the Bank, which was read the first time. Mr. Leake, from the same committee announced that he would introduce a counter report. Mr. Mount introduced a bill for the relief of David Shelter, which was read the first time. Mr. Mount moved to suspend the rules and read said bill a second time. Mr. Murchison opposed a suspension. If this House had rules, they should be regarded and for himself, he was opposed to all suspensions. Mr. Mount explained and Murchison replied. His objections were not the bill but to the practice which was becoming too prevalent in this House. The motion to suspend the rules was put and lost. Mr. Dobyns introduced a resolution calling on the Auditor of Public Accounts, to state what become of certain notes given for town lots in the City of Jackson, to the amount of $130,000, not accounted for in his report of the 9th inst. which was adopted unanimously. Mr. Offult moved that the rule by which the House meets at 10 and 3 o'clock, be suspended, and that when it adjourn, it be to meet at 10 o'clock, A. M., which was adopted-so that the House will now have but one session per day. The Chair announced the hour for orders of the day, when Mr. Allen of Hinds took the Chair, and the House resolved itself into Committee of the Whole. The first bill under consideration, was one introduced by Mr. Bradford at the early part of the session, to "define, when land included in the Indian reservations shall be deemed and held liable to taxation." After some time spent in the discussion of this bill, upon motion of Mr. Murchison, the committee rose and reported it without amendment. Upon motion of Mr. Allen, the report was received and agreed to. Mr. Bell moved a reference to the bill to the committee on the Judiciary, which he withdrew at the suggestion of Mr. Bradford, who moved that it be referred to a Committee of the Whole, and made the order of the day for to-morrow. Mr. Wilcox introduced a resolution calling on the Auditor of Public Accounts to inform the House, upon what terms certain notes given for town lots in the City of Jackson, were placed in the hands of George Work, Esq. for collection? also, why the notes aforesaid were not placed in the hands of the Attorney General for collection? which was unanimously adopted. Mr. Allen, of Hinds, introduced a bill authorizing the commissioners of the Sinking and Seminary funds, to receive Treasury warrants, whenever tendered in payment of all debts due said fund. Mr. Boon was opposed to the bill, the Sinking fund was already appropriated for the payment of interest on the bonds of the Planters Bank, and this legislature had no farther control over, and no right to direct it from the purpose to which it was applied by the transfer act of 1839. Mr. Allen replied and Mr. Boon succeeded in a few remarks, during which he read portions of the act referred to to sustain his positions. Mr. Yerger, hoped the motion to reject would not prevail-It was a matter of great interest to the people of Mississippi, and he should be pleased to see it referred to the judiciary committee, or to a select committee. Several gentlemen addressed the House on the bill, after which Mr. Boon withdrew his motion to reject Mr. Dobyns' bill to reduce the salaries of certain officers, was called up, and on motion of the House resolved into Committee of the Whole on its consideration. Mr. Murchison of Natchez, in the Chair. After some discussion, the Committee rose and reported the bill without amendment. On motion of Mr. Murchison the report was received and agreed to. Mr. Cunningham offered a resolution to adjourn on Saturday, which lies over one day. On motion of Mr. Graves the House adjourned.