461. Little Rock Trust Company (Little Rock, AR)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
September 15, 1913
Location
Little Rock, Arkansas (34.746, -92.290)

Metadata

Model
gpt-5-mini
Short Digest
99085f8b

Response Measures

None

Description

The Little Rock Trust Company was closed and placed in the hands of a receiver in mid-September 1913 after the death of its principal stockholder and president Abe Steiwell. Articles describe the action as a friendly receivership for purpose of liquidation because the executors could not legally continue or sell the business; no depositor run is described. Receiver Sam W. Reyburn was appointed and the institution remained in receivership (final report filed in 1915).

Events (2)

1. September 15, 1913 Suspension
Cause
Voluntary Liquidation
Cause Details
Executors of deceased principal stockholder/president (Abe Steiwell) could not legally conduct or sell the business under probate law, so they sought receivership for protection of creditors.
Newspaper Excerpt
Sam W. Reyburn, president of the Union Trust Company, was this morning appointed receiver of the Little Rock Trust Company. The action is a friendly one, and is done for the purpose of liquidation.
Source
newspapers
2. September 16, 1913 Receivership
Newspaper Excerpt
Acting upon the application of A. M. Heisman and Morris M. Cohn, executors of the Abe Steiwell estate, Chancellor J. E. Martineau placed the Little Rock Trust Company in the hands of Sam W. Reyburn ... as receiver. ... The receivership ... was found necessary because of the inability of the executors to legally conduct or sell the business on the credit of Mr. Stiewell's estate. (Log Cabin Democrat, Sept. 16, 1913).
Source
newspapers

Newspaper Articles (8)

Article from The Log Cabin Democrat, September 16, 1913

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Article Text

LITTLE ROCK BANKING INSTITUTION CLOSED LITTLE ROCK TRUST COMPANY PLACED IN HANDS OF A RECEIVER. Little Rock, Sept. 16.-Acting upon the application of A. M. Heisman and Morris M. Cohn, executors of the Abe Steiwell estate, Chancellor J. E. Martineau placed the Little Rock Trust Company in the hands of Sam W. Reyburn, president of the Union Trust Company, as receiver. Steiwell, who died three weeks ago, was principal stockholder and president of the Little Rock Trust Company. Mr. Reyburn gave out the following statement: "The receivership, as I understand by interviews with the executors and attorneys who represent them. was found necessary because of the inability of the executors to legally conduct or sell the business on the credit of Mr. Stiewell's estate, as he had conducted it in his lifetime. "The bank having been run by Mr. Steiwell more as a private banking business than as an incorpated bank, he could pledge the assets of his private estate, but under the probate law, now that he is dead, they are not immediately available. The executors, therefore, for the protection of all the creditors, determined upon the receivership."


Article from The Mena Weekly Star, September 18, 1913

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Article Text

RECEIVERS FOR TRUST CO. Friendly Proceeding for the Purpose of Liquidation. Little Rock, Sept. 15 (Special).Sam W. Reyburn, president of the Union Trust Company, was this morning appointed receiver of the Little Rock Trust Company. The action is a friendly one, and is done for the purpose of liquidation. Abe Stiewel, who died recently, was the owner of 90 per cent of the stock. The institution is in a solvent condition.


Article from The Forrest City Times, September 26, 1913

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Article Text

that oil has broken into his well and it is creating some excitement in the neighborhood. . . . An effort is being made to organize a company of militia in Stuttgart, and the town also hopes to be able to furnish a regimental band of 30 pieces. . . . Fifty box cars belonging to the Cotton Belt Railway Company, at the gravel pit three miles west of Jonesboro, were destroyed by fire, the origin of which is unknown. The average cost of a box car is $400, which makes a loss of something like $20,000. . . David Mitchell, a 17-year-old boy living near Mulberry, was drowned when he attempted to leap onto a moving ferryboat. . . . The Craighead County Sunday School Convention met at Bay last week. Nearly every Sunday school in the county was represented. . . Despondency, it is thought, impelled by the death of his daughter, Mrs. Marie Douglass, at Morrilton, caused John Harrod of Conway to attempt suicide. Just as he raised the pistol to shoot, his wife, Mrs. Martha Harrod, entered the room and, sizing up the situation at a glance, knocked the weapon from his hand just as he pulled the trigger. . . . Crescent College, located at Eureka Springs, was opened last week with a full enrollment. . . . John H. Page, commissioner of mines, manufactures and agriculture, hopes to bring over 1,000 immigrants to Arkansas during the winter months. Mr. Page is in the East now making arrangements for the various railroads to bring the immigrants to this state. . . . Col. W. H. "Coin" Harvey of Monte Ne, leading good roads advocate of the Southwest, and one of the sentral figures of the Bryan presidential campaign several years ago, announced his candidacy for Congress from the Third District. He is the fifth to enter the race. One of Col. Harvey's chief planks in his platform will be good roads, with government financial assistance to build them. Another is to prevent the establishment of great fortunes. . . . Attorney General W. L. Moose, at the request of Governor Hays, rendered an opinion declaring that the Kidder act of 1913, prohibiting newspapers from publishing the details of an electrocution, is valid. The law. the attorney general says, makes the publication a misdemeanor, punishable by not more than one year in prison or a fine not to exceed $1,000. Mr. Moose admits the constitutionality of the law may be questioned on the ground it violates the constitutional right giving freedom to the press. o . . The Little Rock public schools reopened after a summer recess of more than three months. Nearly 1,000 pupils were enrolled in the high school, which is the largest attendance in the history of the Little Rock High School. The graded schools also showed a large increased attendance over last year. o : . Judge George W. Reed, of the Fourteenth Judicial District, since he has been on the bench has paroled and suspended sentences against 450 youthful offenders, allowing them to go their way on probation, but warning them that if they should again be brought into his court for other violations of the law he would not only give give them the full penalty in the new cases, but would revive the old ones against them. Of the 450 boys and young men thus paroled, only one has ever been brought before Judge Reed again. . . . Jonesboro will, at an early date. begin the erection of a $30,000 city hall and fire department, this being the result of favorable action taken at a meeting of the city council. . . . Prof. M. J. Russell of Hendrix College, Conway, will attend the meeting of the American Athletic Union in St. Louis as Arkansas' representative. Arkansas has only recently become af filiated with the union. O . . Acting upon the application of A. M. Heiseman and Morris M. Cohn, executors of the Abe Steiwell estate, Chancellor J. E. Martineau placed the Little Rock Trust Company in the hands of Saw W. Reyburn, president of the Union Trust Company, as receiver Steiwell, who died three weeks ago, was principal stockholder and president of the Little Rock Trust Company The réceiver said depositors and credlitors will be paid in full.


Article from The Spectator, July 2, 1915

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Article Text

Sam W. Reyburn, receiver of the Little Rock Trust Company, which closed its doors the day after Abe Steiwel, its president, died, two years ago, filed his final report.


Article from The Pulaskian, July 2, 1915

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Article Text

Sam W. Reyburn, receiver of the Little Rock Trust Company, which closed its doors the day after Abe Steiwel, its president, died, two years ago, filed his final report.


Article from The Carlisle Independent, July 8, 1915

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Article Text

Sam W. Reyburn, receiver of the Little Rock Trust Company, which closed its doors the day after Abe Steiwel, its president, died, two years ago, filed his final report.


Article from The Dermott News, July 8, 1915

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Article Text

Sam W. Reyburn, receiver of the Little Rock Trust Company, which closed its doors the day after Abe Steiwel, its president, died, two years ago, filed his final report.


Article from The Green Forest Tribune, July 9, 1915

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Article Text

Sam W. Reyburn, receiver of the Little Rock Trust Company, which closed its doors the day after Abe Steiwel, its president, died, two years ago, filed his final report.