449. Bank of the State (Little Rock, AR)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 31, 1843
Location
Little Rock, Arkansas (34.746, -92.290)

Metadata

Model
gpt-5-mini
Short Digest
0183556e

Response Measures

None

Description

The articles repeatedly state the bank was placed in liquidation by an act of the Arkansas Legislature (approved 31 January 1843) and that receivers had obtained possession. There is no mention of a depositor run. This is a government-ordered suspension/liquidation (permanent closure) with receivers administering assets.

Events (3)
1. January 31, 1843 Suspension
Cause
Government Action
Cause Details
State legislature passed an act (approved 31 Jan 1843) placing the Bank of the State of Arkansas in liquidation; payments/operations suspended under receivership.
Newspaper Excerpt
having obtained possession of all its property, assets and effects, in pursuance of an act of the Legislature, entitled an act to place the Bank of the State of Arkansas in liquidation, approved 31st January, 1843
Source
newspapers
2. June 10, 1843 Other
Newspaper Excerpt
NOTICE TO BANK DEBTORS. Bank of the State of Arkansas, Little Rock, 10th June, 1843. THE undersigned, Executive and Financial Receiver of the Bank of the State of Arkansas, at Little Rock, having obtained possession of all its property, assets and effects,... do hereby give notice to all persons indebted to said Bank ... to come forward within ninety days ... and pay up all arrearages ... (receivers administering liquidation actions).
Source
newspapers
3. June 10, 1843 Receivership
Newspaper Excerpt
THE undersigned, Executive and Financial Receiver of the Bank of the State of Arkansas, at Little Rock, having obtained possession of all its property, assets and effects, in pursuance of an act of the Legislature ... (receivers giving notice to debtors).
Source
newspapers

Newspaper Articles (10)
1. June 17, 1843 Arkansas Intelligencer Van Buren, AR
Article from Arkansas Intelligencer, June 17, 1843

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Article Text

Twelve months after date, we, (insert name of the drawer,) as principal, and (here insert the names of at least two responsible persons,) as serities, jointly and severally promise to pay to the BANK OF THE STATE OF ARKANSAS, or order, (the amount to be inserted,) dollars, negotiable and payable at the Principal Bank in the city of Little Rock, without defalcation, for value received. Witness our hands; and the Financial Receiver of said Bank is hereby authorized to cause the date of renewal to be inserted.) The undersigned, are prepared to give to persons requiring it, all the information in their power, respecting the situation of their debt, or the construction of the law in relation thereto-but all letters addressed by mail, must be post paid, as none other will be attended to. S. M. RUTHERFORD; Fxecutive Rec't. J. II. CREASE, Ninancial Ree'r. 19-4w The Batesville News, Washington Telegraph, Belena Journal, and Van Buren Intelligencer, will please copy four weeks.

2. June 17, 1843 Arkansas Intelligencer Van Buren, AR
Article from Arkansas Intelligencer, June 17, 1843

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Article Text

NOTICE TO BANK DEBTORS. Bank of the State of Arkansas, Little Rock, 10th June, 1843. THE undersigned, Executive and Financial Receiver of the Bank of the State of Arkansas, at Little Rock, having obtained possession of all its property, assets and effects, in pureuance of an act of the Legislature, entitled is an act to place the Bank of the State of Arkansas in liquidation," approved 31st January, 1843, do hereby give notice to all persons indebted to said Bank, upon notes, &c., that are now due, to come forward within ninety days from the date hereof, (and upon notes that are not now due, within ninety days after the same may become due,) " and pay up all arrearages of interest and calls, and furnish such security for the payment of the principal debt, as said Receivers may approve." " All debtors who may come forward within ninety days, (in pursuance of this notice,) and pay all arrearages of interest and calls, shall be privileged to renew their notes for one year, by giving satisfactory security, to be approved by said Receivers, and paying interest in advance, at the rate of seven per cent. per annum; and the calls on said notes when they become due, will be so regulated, as that the whole debt will be called in within ten years, in regular annual calls. But all debtors who shall fail to pay up the arrearges of interest and calls. or to furnish such satisfactory security as the Receivers may approve, within the time specified in this notice, or who, complying with the notice, shall hereafter at any time fail to pay the regular calls and interest in advance, as aforesaid, will forfeit all claim to farther indulgence." In all cases where suit has boen brought by the Bank, the debtors upon paying costs and all arrenarges of interest and calls with an additional call of five per cent., upon said debt, within ninety days, in pursuance of this notice, will be permitted to renew their note upon the terms herein before prescribed for other debtors." In order that debtors, whose notes have been lay ing over unrenewed, may clearly understand the import of the term "arrearage of call," thev are informed that it is rendered obligatory on the Receivers in such cases, to require the payment of a curtail of five per cent. upon each note, on the day of its becoming-due, and at same rate upon every six months thereafter, upit the 1st of April, 1843 from which day, the remainder of the debt. then, due, will be renewed for twelve months upon payment of the interest only, say seven per cent, in advance. The five per cent curtail, above referred to, as estimated on the original amount of debt-as for instance, should the original loan have been one thousand dollars, each semi-annual call will be fifty dollars, notwithstanding the debt may be reduced one-half or more by payment of curtail, but the interest will of course be required only on the sum renewed. The form of the note to be given, in renewals of debts, is as follows : STATE OF ARKANSAS, County, 184

3. June 24, 1843 Arkansas Intelligencer Van Buren, AR
Article from Arkansas Intelligencer, June 24, 1843

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Article Text

NOTICE TO BANK DEBTORS. Bank of the State of Arkansas, Little Rock, 10th June, 1843. THE undersigned, Executive and Financial Receiver of the Bank of the State of Arkansas, at Little Rock, having obtained possession of all its property, assets and effects, in pursuance of an act of the Legislature, entitled " an act to place the Bank of the State of Arkansas in liquidation," approved 31st January, 1843, do hereby give notice to all persons indebted to said Bank, upon notes, &c., that are now due, to come forward within ninety days from the date hereof, (and upon notes that are not now due, within ninety days after the same may become due,) and pay up all arrearages of interest and calls, and furnish such security for the payment of the princi, pal debt, as said Receivers may approve." ) All debtors who may come forward within ninety days, (in pursuance of this notice,) and pay all arrearages of interest and calls, shall be privileged to renew their notes for one year, by giving satisfactory security, to be approved by said Receivers, and paying interest in advance, at the rate of seven per cent. per annum; and the calls on said note3 when they become due, will be so regulated, as that the whole debt will be called in e within ten years, in regular annual calls. But 1 all debtors who shall fail to pay up the arrearges ) of interest and calls, or to furnish such satisfactory security as the Receivers may approve, within the time specified in this notice, or who, complying with the notice, shall hereafter at any time fail to pay the regular calls and interest in ad. vance, as aforesaid, will forfeit all claim to farther indulgence." In all cases where suit has been brought by the Bank, the debtors upon paying costs and all arreaarges of interest and calls with an additional call of five per cent., upon said debt. within ninety days, in pursuance of this notice, will be permitted to renew their note upon the terms herein before prescribed for other debtors." In order that debtors, whose notes have been laying over unreneiced, may clearly understand the import of the term "arrearage of call," they are informed that it is rendered obligatory on the Receivers in such cases, to require the payment of a curtail of five per cent. upon each note, on the day of its becoming due, and at same rate upon every six months thereafter, up to the 1st of April, 1843 from which day, the remainder of the debt. then, due, will be renewed for twelve months upon payment of the interest only, say seven per cent, in advance. The five per cent curtail, above referred to, as estimated on the original amount of debt-as for instance, should the original loan have been one thousand dollars, each semi-annual call will be fifty dollars, notwithstanding the debt may be re. duced one-half or more by payment of curtail, but the interest will of course be required only on the sum. renewed. The form of the note to be given, in renewals of debts, is as follows STATE OF ARKANSAS, ? -County, 184

4. June 24, 1843 Arkansas Intelligencer Van Buren, AR
Article from Arkansas Intelligencer, June 24, 1843

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Article Text

-County, — 184 Twelve months after date, we, (insert name of the drawer,) as principal, and (here insert the names of at least two responsible persons,) as securities, jointly and severally promise to pay to the BANK OF THE STATE OF ARKANSAS, or order, (the amount to be inserted,) dollars, negotiable and payable at the Principal Bank in the city of Little Rock, without defalcation, for value received. Witness our hands; and the Financial Receiver of said Bank is hereby authorized to cause the date of renewal to be inserted.) The undersigned, are prepared to give to persons requiring it, all the information in their power, respecting the situation of their debt, or the construction of the law in relation thereto-but all letters addressed by mail, must be post paid, as none other will be attended to. S. M. RUTHERFORD; Executive Rec'r. J. H. CREASE, Financial Rec'r. 19-4w The Batesville News, Washington Telegraph, Helena Journal, and Van Buren Intelligencer, will please copy four weeks.

5. July 1, 1843 Arkansas Intelligencer Van Buren, AR
Article from Arkansas Intelligencer, July 1, 1843

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Article Text

Twelve months after date, we, (insert n the drawer,) as principal, and (here inse names of at least two responsible persons,) as rities, jointly and severally promise to pay to BANK OF THE STATE OF ARKANSAS, or order, (the amount to be inserted,) dollars, negotiable and payable at the Principal Bank in the city of Little Rock, without defalcation, for value received. Witness our hands; and the Financial Receiver of said Bank is hereby authorized to cause the date of renewal to be inserted.) The undersigned, are prepared to give to persons requiring it, all the information in their power, respecting the situation of their debt, or the construction of the law in relation thereto-all letters addressed by mail, must be post paid, as none other will be attended to. S. M. RUTHERFORD; Executive Rec'r. J. H. CREASE, Financial Rec'r. 19-4w The Batesville News, Washington Telegraph, Helena Journal, and Van Buren Intelligencer will please copy four weeks.

6. July 8, 1843 Arkansas Intelligencer Van Buren, AR
Article from Arkansas Intelligencer, July 8, 1843

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Article Text

$-County, 184 Twelve months after date, we, (insert the drawer,) as principal, and (here in names of at least two responsible persons, rities, jointly and severally promise to pay BANK OF THE STATE OF ARKA or order, (the amount to be inserted.) dolia gotiable and payable at the Principal Bank city of Little Rock, without defalcation, for received. Witness our hands; and the Fin Receiver of said Bank is hereby authoriz cause the date of renewal to be inserted.) The undersigned, are prepared to give sons requiring it, all the information in their er, respecting the situation of their debt, or construction of the law in relation thereto-all letters addressed by mail, must be po as none other will be attended to. S. M. RUTHERFORD; Executive J. H. CREASE, Financial Ree'r. 19-4w The Batesville News, Washington Te Helena Journal, and Van Buren Intellig will please copy four weeks.

7. July 19, 1843 Washington Telegraph Washington, AR
Article from Washington Telegraph, July 19, 1843

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Article Text

Twelve months after date. we (insert name of the drawer,) as principal, and (here insert the names of at least two responsible persons,) as securities, jointly and severally promise to Day to the BANK OF THE STATE OF ARKANSAS, or order. (the amount to be inseried.) dollars, negotiable, and payable at the Principal Bank in the eity of Little Rock, without detalcation. for value received. Wit. ness our hands: (and the Fina cial Receiver of said Bank is hereby authorized to cause the date of renewal to be inserted.) The undersigned, are prepared to give to persons requiring it, all the information in their power, respecting the situation of their debt, of the construction of the law in relation thereto-but all addressed by mail, must be post paid, as none other will be attended to. S. M. RUTHERFORD Executive Rec'r. J. H. CREASE, Financial Rec'r. 51-4w. The Batesville News, Washington Telegraph, Helena Journal, and Van Baren Intelligencer, will please copy four weeks.- Little Rock papers.

8. March 20, 1844 The Arkansas Banner Little Rock, AR
Article from The Arkansas Banner, March 20, 1844

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Article Text

Bank Notice. Receivers Office, Bank of the State of Arkansas at Little Rock. EBTORS to this Bank who desire to avail D themselves of the privileges of the Act placing the Bank in Liquidation, are reminded of the necessity of promptly paying up their annual call, and interest in advance, as a failure so to do subjects them to a forfeiture of all claim to further indulgence. The curtail upon the several notes as they fall due are required to be so regulated, that the whole debt be called in within ten years (from passage of the act,) in regular annual calls--and under which regulation the Receivers require at maturity of the first note (which they received 12 months in renewal of old debts) one ninth part thereof and interest at 7 per cent in advance on the balance; and the same call every year thereafter:-for instance-should the debt be $900, the call for the first year will be $100 with 7 per cent interest on the remaining $800,-the call for the second year, $100 with interest on remaining $700, and so on. The law does not require notice to be given to the debtors or security, (it being presumed every individual attends to his own debt,) but the Receivers, willing to aiford every facility in their power, and finding that many persons do not recollect the date or amount of their notes, are preparing notices to be sent to all previous to maturity of their notes; but this being gratuitous on their part, want of notice will not protect the debtors from the consequence, of a failure to comply with the provisions of the act; and in the event of notice not reaching them, they are advised to call at the Bank for any information desired. WM. FIELD, Executive Receiver. J. H. CREASE, Financial Receiver. DC Any letters addressed to either Receiver must be post paid. March 20, 1844-n27-4w-10

9. April 3, 1844 The Arkansas Banner Little Rock, AR
Article from The Arkansas Banner, April 3, 1844

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Article Text

Bank Notice. Receivers Office, Bank of the State of Arkansas at Little Rock. EBTORS to this Bank who desire to avail D themselves of the privileges of the Act placing the Bank in Liquidation, are reminded of the necessity of promptly paying up their annual call, and interest in advance, as a failure so to do subjects them to a forfeiture of all claim to further indulgence. The curtail upon the several notes as they fall due are required to be so regulated, that the whole debt be called in within ten years (from passage of the act,) in regular annual calls-and under which regulation the Receivers require at maturity of the first note (which they received 12 months in renewal of old debts) one ninth part thereof and interest at 7 per cent in advance on the balance; and the same call every year thereafter instance-should the debt be $900, the call for the first year will be $100 with 7 per cent interest on the remaining $800, - the call for the second year, $100 with interest on remaining $700, and so on. The law does not require notice to be given to the debtors or security, (it being presumed every individual attends to his own debt,) but the Receivers, willing to afford every facility in their power, and finding that many persons do not recollect the date or amount of their notes, are preparing notices to be sent to all previous to maturity of theirnotes; but this being gratuitous on their part, want of notice will not protect the debtors from the consequence of a failure to comply with the provisions of the act; and in the event of notice not reaching them, they are advised to call at the Bank for any information desired. WM. FIELD, Executive Receiver. J. H. CREASE, Financial Receiver. DF Any letters addressed to either Receiver must be post paid. March 20, 1844-n27-4w-10

10. January 22, 1845 The Arkansas Banner Little Rock, AR
Article from The Arkansas Banner, January 22, 1845

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TEMRS, Per Session of Five Months. $18 Senior Classes, $10 | Music, 10 7 Junior Classes, French, Half a session to be paid in advance. . Children boarded on reasonable terms. 19--tf Little Rock, Jan. 22, 1845. RECEIVER'S OFFICE, Bank of the State of Arkansas, January 22, 1845. HE Receivers of this institution, actuated from T the best possible motives, thought proper to indulge the debtors to the Bank until the meeting of the last Legislature, in hopes some further relief would have been afforded them by the General Assembly. Inasmuch, therefore, as no further indulgenee was granted by the Legislature, but an implied disapprobation of the kindness extended by the Receivers, we deem it our duty to bring suits, indiscriminately, upon all notes now lying over, unless the same are renewed within the next thirty days. WM. FIELD Executive Receiver. JNO. H. CREASE, Financial Receiver. 19-tf Gazette copy two weeks.