State Bank - Little Rock, AR

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: *
Location: Little Rock, Arkansas (34.746, -92.290)

Metadata

Model: gpt-5-mini
Short Digest: 44acad5f

Response Measures

None

Description

Article is a historical account (1830s–1839) describing a prolonged run and general distress affecting the State Bank of Arkansas (Little Rock) and its branches. No clear suspension, reopening, or receivership for the Little Rock bank is described in the excerpt, so this is classified as a run only. OCR appears correct for names and dates in the excerpt; no corrections made.

Events (1)

1. * Run

Cause: Bank Specific Adverse Info
Cause Details: Poor quality of bank paper and heavy discounting of the bank's notes (paper at eight and ten per cent discount) undermined confidence and led to a prolonged run on the banks, including the State Bank at Little Rock.
Newspaper Excerpt: September 4, For the last six or eight months a run on the banks. There is great distress in this part of the country.
Source: newspapers

Newspaper Articles (1)

1. April 20, 1876 The Russellville Democrat Russellville, AR

Article from The Russellville Democrat, April 20, 1876

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Article Text

ARKANSAS FINANCES. How the Debts Against the State Were Created and on What Account. The Old Real Estate and State Banks---How they Were Established and Managed. How the Directors "Prudently" Expanded the Circulation of the Bank. -BY W. D. BLOCHER. From the Little Rock Star.] [Continued from last week.] THE STATE BANK OF ARKANSAS. The history of the mother bank at Little Rock, and of the branches at Fayetteville and Batesville, was very similar to that of the branch at the Post of Arkansas. On the 27th of February it was ordered by the board at the principal bank, that persons obtain ing discounts should receive the notes of the branches, "and such other funds as we may have to spare." "February 23, we read that "the paper of the bank is at eight and ten per cent. discount at New Orleans. So bad a character had the bank got by its commencing operations by the issue of post notes, that the assumption of specie payments could not establish its credit. May 17, "Our banks all pay specie, but it is at their own counters; and the expense of collecting from the Fayetteville branch, which supplies most of the circulation, is two per cent." September 4, For the last six or eight months a run on the banks. "There is great distress in this part of the country." When the bank at Little Rock assumed specie payment, January 1, 1839, its