480. State Bank (Little Rock, AR)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 10, 1845
Location
Little Rock, Arkansas (34.746, -92.290)

Metadata

Model
gpt-5-mini
Short Digest
4f411089

Response Measures

None

Description

Newspaper items (Jan 1845) discuss legislative actions concerning the State Bank at Little Rock including appointment of an Executive Receiver and transfer of bank funds into the State Treasury; no run or depositor panic is described. OCR errors in the articles corrected (e.g., 'T ittle Rook' -> Little Rock). The law becoming effective on Jan 10, 1845 is mentioned and the Executive Receiver appointment (resolution 118) indicates receivership/government action and effectively closure; reopening is not indicated in the texts.

Events (2)

1. January 10, 1845 Receivership
Newspaper Excerpt
That the Financial Receiver at the Little Rock be ... authorised ... exchange any notes on hand, and that all par funds now in the hands of the Financial Receiver ... be immediately placed under the control of the State Treasurer and transferred to the State Treasury; appointment of an Executive Receiver of the State Bank at Little Rock mentioned elsewhere (resolution 118). (Jan. 10, 1845 law noted.)
Source
newspapers
2. January 10, 1845 Suspension
Cause
Government Action
Cause Details
Legislature authorized appointment of an Executive Receiver for the State Bank and provisions to transfer bank funds into the State Treasury; statutory action by state authorities.
Newspaper Excerpt
118th. Resolution concerning the appointment of an Executive Receiver of the State Bank at Little Rock.
Source
newspapers

Newspaper Articles (4)

Article from The Arkansas Banner, November 20, 1844

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Article Text

November 13th. Senate met pursuat to adjournment. Mr. Gaines introduced a bill to be entitled An act tosamend the laws for taking up estrays." Read a first time, and ordered to a second reading on to-morrow. Mr. Gaines introduced a resolution to appoint a joint select committee of three in the Senate and five in the House of Representatives, to examine into the acts of the late Bank Visiter, and the acts of Financial and Executive Receivers of the State Bank. Also to take into consideration the propriety of abolishing the office of Bank Visiter and Executive Receiver of the State Bank and branches. Which was read, and laid on the table for one day. Mr. McCamy introduced a resolution instructing the judiciary committee "to enquire into the propriety of adopting some form for justices of the peace for taking bonds or recognizances for the appearance of offenders against the State. And to enquire into the propriety of the informer or prosecutor before the justice of the peace, where the grand jury does not find u true bill, to be bound for all cost incurred in said case before the justice of the peace." Which was read and referred to the judiciary committee. Mr. Maxwell introduced a resolution instructing the committee on ways and means to enquire into the propriety of so changing the revenue law of the State as to require sheriffs aud other collecting officers of the State to pay into the State and county treasury the same kind of funds they shall collect. Which was read, and adopted. On motion of Mr. Ficklin, the Senate adjourned.


Article from The Arkansas Banner, January 15, 1845

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Article Text

others in favor of the Bank of the State. 113th. Resolution in relation to Salt Springs and lands in Sevier county. 114th. Resolution in relation to free negroes and mulattoes. 115th. Resolution in relation to publishing the Resolution in relation to the amendments to the constitution. 116. Resolution in relation to the passage of a law concerning French and Spanish laud claims. 117th. Resolution in relation to the proposition of John Hutt and wife to convey a certain house and lot to the State. 118th. Resolution concerning the appointment of an Executive Receiver of the State Bank at Little Rock. 119th. An act to regulate the action of Forcible Entry and detainer. 120th. An act making appropriation for the years 1845, 1846, and part of the year 1841 and for balances due from the State, and for other purposes. The bill having been returned by the Governor with his objections thereto and after reconsideration having passed both Houses by the constitutional majority, it has become a law this 10th day of January A. D. 1845. 121st. An act entitled an act supplementary to an act making appropriations for the years 1845, 1846, and part of 1844, and for balances due from the State and for other purposes.


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


Article from Washington Telegraph, January 22, 1845

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Article Text

109th. An act to attach Dallas county to the second Judicial circuit and for other purposes. 110th. An act for the benefit and relief of Thomas S. Woodward and Thomas Woodward 111th. Resolution in relation to amendments to the constitution of the State. 12th. Resolution in relation to the collection of a note drawn by Thomas Thorn and others in favor of the Bank of the State. 113th. Resolution in relation to Salt springs in Sevier county. 114th. Resolution in relation to free negroes and mullattoes. 115th. Resolutions in relation to publishing the Resolution in relation to the amendments to the Constitution. 116th. Resolutions in relation to the passage of a law concerning French and Spanish land claims. 117th. Resolution in relation to the proposition of John Hutt and wife to convey a certain house and lot to the State. 118th. Resolution concerning the ap. pointment of an Executive Receiver of the State Bank at T ittle Rook 119th. An act to regulate, the action of Forcible Entry and detainer. 120th. An act making appropriation for the years 1845, 1846. and part of the year 1841 and for balances que from the State, and for other purposes. The bill having been returned by the Governor with his objections thereto and after reconsideration having passed both Houses by the constitutional majority, it has become a law this 10th day of January A. D. 1845. 12'st. An act entitled an act supplementary to an act making appropriations for the years 1845, 1846, and part of IS44. and for balances due from the State and for other purposes.