North American Trust & Banking Company (New York, NY)

Episode Information

Episode UID
5868844590714
Episode Type
Suspension โ†’ Closure
Bank Type
private
Bank ID
586884459 hash
Start Date
June 23, 1859
Location
New York, New York (40.714, -74.006)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d8893431fcd273a8

Response Measures

None

Description

The articles describe legal proceedings in 1859 involving a receiver for the bank, which failed years earlier in the Panic of 1841.

Events (2)

1. June 23, 1859 Receivership
Newspaper Excerpt
David Leavitt as receiver in chancery of the assets of said North American Trust and Banking Company
Source
newspapers
2. * Suspension
Cause Details
The bank failed during the systemic distress of the early 1840s; these articles concern long-standing litigation over hypothecated bonds.
Newspaper Excerpt
the object of which bill is to obtain an account of the amount advanced by the North American Trust and Banking Company, of New York, to, and justly due with the interest accrued thereon, from the Real Estate Bank of the State of Arkansas
Source
newspapers

Newspaper Articles (2)

Article from Arkansas True Democrat, July 6, 1859

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Article Text

AUGUSTUS M. WARD, Clerk. July 6, 1859.-2w (Prs. fee $8 00.) THE STATE OF ARKANSAS, / COUNTY OF PULASKI. I In the Chancery Court of said county, at the June term, A. D. 1859: 23d day of June, A. D. 1859. Benjamin D. Whitney, Complainant. vs. i In Chancery. Gordon N. Peay, as Receiver of the assets of the Real Estate Bank of the State of Arkansas, John HolDefendants. ford and John James Holford, as executors and devisees of James Holford, deceased, et al. N this day appeared said complainant, by O Watkins & Gallagher, solicitors, and files his bill of complaint herein, with the exhibit therein referred to, the object of which bill is to obtain an account of the amount advanced by the North American Trust and Banking Company, of New York, to, and justly due with the interest accrue S ) thereon, from the Real Estate Bank of the Stat. of Arkansas, or its receiver, upon the five hun I dred bonds of said State, issued to said Real Estat. Bank, and hypothecated to said banking company to have such amount allowed and established as 1 claim in favor of complainant, against said Rea ) Estate Bank, or its assets, in the hands of said re 1 ceiver, and paid as other claims against the trus fund; and praying that the representatives of Jame t Holford be required to produce said hypothecate bonds, and assert their claim thereto against sai Real Estate Bank, or its assets, and in defaul e thereof, that they be forever precluded from having or asserting any such right or claim, and that san bonds may be canceled and annulled by decree o this court; and it appearing from affidavit annexe I to said bill of complaint, that the defendants, John e Holford and John James Holford, as executors an S devisees of James Holford, deceased, and Henry S. Holford and Frederick F. Holford, as adminis t trators with the will annexed, of said James Hol e ford, deceased, the children of John Holford, whose names are unknown, and David Leavitt as receive r in chancery of the assets of said North American Trust and Banking Company, are non-residents o this state. It is therefore ordered by the court tha 1 said non-resident defendants be notified of the S filing and pendency of said complainant's bil e against them in this behalf, by publication of thi order in some newspaper printed in the State o Arkansas, for the number of times and within the time prescribed by the statute. and that unless the appear in this court, on or before the fourth day o the next term thereof, to be held at the court house of said county of Pulaski, in the city of Little Rock, Arkansas, on the third Monday of October ) A. D. 1859, and file exceptions, plead, demur O) 1 answer to said complainants bill, the same will be taken as confessed against them, and an interiocu1 tary decree entered accordingly. A true copy from the record. e Attest: GORDON N. PEAY, Clerk. July 6th, 1859-2w. (Prs. fee $11 00.)


Article from Arkansas True Democrat, July 13, 1859

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Article Text

AUGUSTUS M. WARD, Clerk. July 6, 1859.-2w (Prs. fee $8 00.) THE STATE OF ARKANSAS, COUNTY OF PULASKI. In the Chancery Court of said county, at the June term, A. D. 1859: 23d day of June, A. D. 1859. Benjamin D. Whitney, Complainant. VS. > In Chancery. Gordon N. Peay, as Receiver of the assets of the Real Estate Bank of the State of Arkansas, John HolDefendants ford and John James Holford, as executors and devisees of James Holford, deceased, et al. N this day appeared said complainant, by Watkins & Gallagher, solicitors, and files his bill of complaint herein, with the exhibit therein referred to, the object of which bill is to obtain an account of the amount advanced by the North American Trust and Banking Company, of New York, to, and justly due with the interest accrued thereon, from the Real Estate Bank of the State of Arkansas, or its receiver, upon the five hundred bonds of said State, issued to said Real Estate Bank, and hypothecated to said banking company; to have such amount allowed and established as a claim in favor of complainant, against said Real Estate Bank, or its assets, in the hands of said receiver, and paid as other claims against the trust fund; and praying that the representatives of James Holford be required to produce said hypothecated bonds, and assert their claim thereto against said Real Estate Bank, or its assets, and in default thereof, that they be forever precluded from having or asserting any such right or claim, and that said bonds may be canceled and annulled by decree of this court; and it appearing from affidavit annexed to said bill of complaint, that the defendants, John Holford and John James Holford, as executors and devisees of James Holford, deceased, and Henry S. Holford and Frederick F. Holford, as adminis trators with the will annexed, of said James Holford, deceased, the children of John Holford, whose names are unknown, and David Leavitt as receiver in chancery of the assets of said North American Trust and Banking Company, are non-residents of this state. It is therefore ordered by the court that said non-resident defendants be notified of the filing and pendency of said complainant's bill against them in this behalf, by publication of this order in some newspaper printed in the State of Arkansas, for the number of times and within the time prescribed by the statute. and that unless they appear in this court, on or before the fourth day 01 the next term thereof, to beheld at the court house of said county of Pulaski, in the city of Little Rock, Arkansas, on the third Monday of October, A. D. 1859, and file exceptions, plead, demur or answer to said complainants bill, the same will be taken as confessed against them, and an interlocutary decree entered accordingly. A true copy from the record. Attest: GORDON N. PEAY, Clerk. July 6th, 1859-2w. (Prs. fee $11 00.)