472. Real Estate Bank of the State (Little Rock, AR)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 19, 1844
Location
Little Rock, Arkansas (34.746, -92.290)

Metadata

Model
gpt-5-mini
Short Digest
c336f4a3

Response Measures

None

Description

Articles (1844–1845) discuss the bank being in assignment/under assignees and a Financial Receiver at the Little Rock handling the bank's funds. There is no description of a depositor run; instead the bank appears to be under permanent assignment/receivership. Classified as a suspension leading to closure with receiver involvement.

Events (3)

1. June 19, 1844 Suspension
Cause
Voluntary Liquidation
Cause Details
Bank placed in assignment; assignees handling closure/assignment of bank affairs (assignment mentioned explicitly).
Newspaper Excerpt
The Bank is a heavy load ... Will the assignees and stockholders all save not? ... the assignees, involved as deepley as they are to close the assignment successfully
Source
newspapers
2. January 15, 1845 Other
Newspaper Excerpt
the Financial Receiver at the Little Rock, be if and of authorised and of the Real hereby SEC. Arkansas ... That all the par funds now on or in the hands of the Real Estate Bank ... shall be immediately placed under the control of the State Treasurer ... and delivered to the receiver and Treasurer. Also references to redeeming bonds and cancelled notes by Receiver and Auditor.
Source
newspapers
3. January 15, 1845 Receivership
Newspaper Excerpt
the Financial Receiver at the Little Rock ... all the par funds now on or in the hands of the Bank ... shall be immediately placed under the control of the State Treasurer ... and delivered to the receiver ... duplicate receipts filed with the Auditor and Treasurer.
Source
newspapers

Newspaper Articles (2)

Article from The Arkansas Banner, June 19, 1844

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Article Text

the last session. Procure it! It is needless to go further than the Real Estate Bank itself. The idea that a Bank record is sacred while in the hands of an enemy, is preposterous. I never doubted it. The idea that you would publish all of any thing, not in your own favor, and yet in your own control, is equally absurd. A few more remarks and I will shake hands, and part company with Messrs. Newton and Pike, to meet no more, unless further cause shall arise. These words I address to is a to the candidate citizens for of this the State county. Senate, Mr. Newton represent Pulaski county. It is usual for candidates to lay down their offices when they take the field. It should be done in this case. The Bank is a heavy load to carry. But perhaps the gentle persuasions and mystic influences of the Real Estate Bank can draw more votes than its odium will drive away. But still, to elect the Secretary of the Bank, its salaried one upon to the of this the when officer, rich county, and it, who legislate represent has grown for prosperous people State, and the Bank must be a matter of some have the servant tion in shape,-to subject legisla- of the Bank participating, and debuting, and weilding his Bank influence in the Senate, and at the same time receiving pay from the Will the Newton Bank Bank, is lay wrong-utterly down his Seceetaryship wrong. of Mr. when he takes the field? No. Will he do so when the election is if elected? it when he his No. Will he resign over, takes seat in the Senate of this State? No, he never will do it, unless it be after a promise on the part of the assignees to replace him, at the adjournment of the If an as this shall he avail will his understanding may resign, and such of what legislature. exist, resignation be where the people are concerned, since his Bank interest will not only be the same, but even greater than before? These things time will solve, and we shall see. 1 now seriously ask of the people of this county if it be their intention to elect to the State Senate the Secretary of the Real Estate Bank In conclusion, if all this be true, or any part of it, (and it has come to me as true and can be corrected, if untrue, by those interested) ought not Mr. Pike to be removed Will the assignees and stockholders all sav not? And will Mr. Newton, who in time, must necessarily become deeply interested and be to atand in canvassing afterwards, this if county elected, required electioneering, tend to important public duties, be considered, by the assignees, a suitable and proper officer of the assignment? Or if he will run, does he not owe it to the assignees, involved as deepley as they are to close the assignment successfully, that he should resign, and not subject them to loss, their business to neglect, and their reputations to unjust and torturing suspicions ? PULASKI.


Article from The Arkansas Banner, January 15, 1845

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Article Text

ne on of appropriations State Treasury, excess and payable out of officers the and Bank Agents, account of above Bank the $32,666 66, executed paid by the Bank to for money borrowed Estate over the State Governor and redeem 32 bonds Gener- of the by Real 17th. To Bank. pay salaries 00. of Adjutant for il of 18th. the To State, pay $100 for advertising landssale for taxes, $350 Agents 00. for selecting or loca- 00; 19th. To pay 500,000 acres, $3,500 ting to lands provide of the that the Internal expenses, which shall iccurred, defray its and own which have of been out of the ordinary shall fund, have and payable The Auditor improvement Revenue been, the State Treasury. of the to fund, accruing donated to 500,000 acres Internal provement charge and the are the account of of land from Internal the Improve- the sale said Im- the of State for the the sum purpose of $15,500 00, the and Internal ment,) shall be reimbursed into the from State Treasury, shall be when received by the said fund on the sum Improvement fund Treasurer Au- for placed and to the credit and be of used as other funds of the Here expenses follows a number Small of sums for to of services, ditor's the ent various kinds books, persons of State. &c. enacted, appropriations That differ- the Re it further of the State Financial Receiver at the Little Rock, be if and of authorised and of the Real hereby SEC. Arkansas 2. of the required, Bank practica- which he Es- is exchange any notes hand, or Bank and State Bank, for shall be sold on hand by the State, and thereon, to pay for bonds and time of such bonds, State tate ble, to due at Branches the the in interest the on par purchase only, which State said and or with said so redeemed shall that any and filed with cancelled, exchange may be State bonds duplicate notes the at receipts State Treasurer, therefor, Auditor. be who shall grant be filed with the take the Financial receipts be redeemed, and such bonds the amount paid for to redeem separately duplicate any one And of which shall shall from Receiver interest, the person shall principal from also showing whom such file the the amount one paid of which for receipts he shall Sec. 3. Be hand, or in the funds now on of the Bank bonds, with Auditor. it further enacted, the That hands of here- all the par Financial Receiver which may of Arkansas, in any wise, after come to said into Bank, except special be immediately longing State of the his and hands shall all deposites placed beunder the made by individuals, to the State Treasury, of the and Treasurer of the State, upon of said to therein transferred control his duty official responsibility. Treasurer all And it shall be after the the and passage take of charge this act, of and receive of said funds of such now in receiver the to deliver fast as they the hands to and all other par funds said as Treasurer, apply immediately and par er, for hands Receiv- same, may and one his duplicate shall file with the Auditor, credit of the such receipts as with the revenue fund. shall take come Bank which charge into he his surplus amount Treasurer, receipt of for the and That same, all who the SO of much of 4. the Be it further enacted, or which may SEC. funds now on of or in this act, be, said come par to hand, provisions the hand, of Treasury and the State, under the specially appropriated the set same apart is hereby, for the express of this purpose General of pay- As- and and the members and mileage, sembly, ing, first, both their per the diem expenses thereof first and duofficers, and to be paid for the any present of said par funds are and paid other of Sevier, is the of the State the first quarter of declared any foregoing before ring their [Mr. Brown, feature]-the purpose session, whatever, liabilities author the then- out of pre- the year, which is 1st October have commenced and to buy $1,515 the 84 direction of the (1844), books, under liabilities sent incurred fiscal during on the hereby legal worth of com- last to of And second, after the State of that the first may quarter of liabilities the present and the State ration year. mon the Auditor. school of That all the Government, be legal incurred the present incurred fiscal expi- year, fiscal shall ex- afpenses day of the of the State, ter at the Treasury when there in par in the payable be paid the be sufficient first funds, par funds and on the same. Treasury Itshall may to not any legal demand Treasurer, on application be pay the duty of the issue to him a Treasury inof warrant, the claimant, for the amount to due, bearing no terest. 5. Be it further enacted, That or member if any Sec. the State Government, Assembly, officer of the present for officer first day of said created since since or the of State General fiscal year, pay- any that liability of the the Treasury, in he is legal drawn from uncurrent funds, of ten days after shall secure to the and pay hereby funds ment time have of within authorized said liability Treasurer, to return who the said to passage uncurrent such perspecie in lieu for all specie this such act uncurrent funds, thereof, and the so Treasurer paid by