Bank of Memphis - Memphis, TN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 12, 1847
Location: Memphis, Tennessee (35.150, -90.049)

Metadata

Model: gpt-5-mini
Short Digest: a8c46ceb

Response Measures

None

Description

The single article (Arkansas Intelligencer, 1847-06-12) states 'the Bank at Memphis has suspended.' No mention of a prior run or later reopening/receivership in the provided text. Because only a suspension is reported and no reopening is described, I classify as suspension_closure (most likely outcome given limited information). If further sources show a reopening, the classification should be revised.

Events (1)

1. June 12, 1847 Suspension

Cause Details: Article simply reports suspension; no cause given.
Newspaper Excerpt: I learn that the Bank at Memphis has suspended.
Source: newspapers

Newspaper Articles (1)

1. June 12, 1847 Arkansas Intelligencer Van Buren, AR

Article from Arkansas Intelligencer, June 12, 1847

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Article Text

Dear Colonel: The Red river section of the Choctaw nation has been for ten days past, the scene of considerable interest. Several hundreds of the late the migrants were convened together for the purpose of attending to in great variety of business growing out of that "aforesaid" Treaty, of Dancing Rabbit Creek. Besides the licensed tra the country. there were few white men present. and those law were like poor men at fromes." T and to stand off-forced to dosso by Linations this powerful to be resisted: their will pleasure (if parasure it was. to see others day the reel. A large amount of interest was 201 DUE position of the Indians. while receive it heavy amount of Land Scrip. This 14 the fund arising from the had of claim allowed by the interest the money Government. cannot and be transferred. and 18 scured to the Indian his heirs forever. Not so with the scrip: the Mississippi Attorney sets up a claim to it. and it seems to me a just one-for it is it claim based upon the labor of twelve years and the expendithousands of dollars. But the Indian over-thoroughly won't ture of fork Repudiation, imbued with he ad. the great Mississippi doctrine of mits the contract. but refuses the payment. The bird in hand is worth two in the bush with him for the Interest cannot be realized for a whole year. whi e the Scrip is visible.-tangling and This at course will answer present purposes. once blocksthe game upon our Mississippi friends. and it is my belief that all the original Attorneys for these people will be rained. Maj. Armstrong. with that high sense of right which has ever characterized him. admits the services rendered the as a fair consideration for but in accordance with in instance directly. to the pays Scrip, by Attorney. every benefits his instructions Indian. the trader, the If it injures the Attorney, it and it is an ...ill wind that blows nobody good." The payment has been an exceedingly laborious and difficult one, the more so, on account of the many deaths that have occurred among these people during the past year. Heirs had to be found. their identity proven. and every de ubtful case thoroughly examined before the payment were continually springing the settlement of which in Indian affairs a great up. was made. experience Questions required and not fund knowl. only of edge of their customs. but also a large sound common sense. practical and satisfactorily. Their knotty points were settled promptly It has been rumored that the offices of Super Intendent and Choctaw Agent are to be separated. This in all probability will be done. and when it is done, there will be a thousand and one applicants for the office of Agent,-all imagining it to be an easy. comfortable berth. The lucky applicant will be most nwwfully mistaken, for in the present situation of the affairs of the Nation. the labor required is immense, and the character of the business exceedingly troublesome and perplexing. In addition to all the ordinary business of of the Nation. he will have the management he the emigrations from Mississippi. and above all will have to shoulder in all its details and perplexities the much-talked-of ever-to-be-remomen- of bered and never-to-be-ended 14th Article DANCING RABBIT TREATY. By itself D. a Herculean labor. Arkansas River. June 4th. 1847. Friend Clarke-1 send you by the S. B. dated Ark. No. 5. several New Orleans papers. ansas from the 24th to 28th ult.. thinking that they would not be uninteresting to you. which I hope will reach you sife. I learn that the Bank at Memphis has suspended. and the paper now at a considerable discount even at home. Lieuts. Conway and Woodruff, have got home from Mexico. Respectfully yours.