Washington telegraph., 1850-11-20


Bank, and cancelled and filed therl with the
State Treasurer, as required by the Cd Sec Of aP,
preparation act Of 1874. ---..--.--- s--z.---s
Table q, exhibits the amount Of specie received
and disbursed at the Principal Bank, from the 9th
day of April, lS49, to the LIST Get, 1850, and for
what purposeit was expended -
The last Legislature adjourned without making
| any appropriation TO pay the RGa1 Agent ap-
pointed by the Governor, under resolution of the
| General Assembly, TO &, ceive from the Receivers
! OF the different branches OF the State Bank the
assets of such branches, and return them TO the
Principal Bank His expenses while engaged in
| the performance of his duties Agent, amount
ed TO a considerable sum; all Of which he had TO
pay out oil his private funds, or abandon the trust
confided TO him. Under these circumstances. I
| paid hun cut OF the specie on hand in nhe Bank.
| upon lis application, the sum Of & l6O.
The $50 paid TO Mr. Carroll, attorney for this
bank, was under the following circumsances:--
The bank, on the 9Th JAM, 1874, obtained judg-
ment against Mary b. Miles, ct al on a note for
$4,000. The officers run an execution TO Chico,
county, returnable TO the April term, Is47: and
at The same time agreed with the parties, that IL
they would pay the arrearages Of interest," cost and
DISCOUNT they could put in ne note for the amopnt
Of the principal SO, 7U0), due in l2 months. Tb;,
proposition was acceded to and complied with on
the part of Mrs Miles; and on the 18th orl ISA7
she paid or caused TO be paid TO Thomas ri Rves
then sheriff Of Chcot couuty. The sum OF Gl315
IN Arkansas funds, and xecuted and bandsd him
lhe new note for S2,700, due lst AnriI. lsaS.
Inc Judgment remained unsatsiied when Mr. Car.
roll aud l came into ofce, aud to refover IN.
s'houht we caused an execution to issue, when
The above facts were shown by the partIss; anu lv
rceove. from Mr.. Rves the 3 ,345 in cash, and
.'-a new note executed by Miles, Mr. Car roll had
80 eo'n Chicot county, and the $50 received by
hm was - bear his expenses
MT. Cair" f-cove..d The note: but Mr. NJ.
c,lI.
suit has been brought to the lie II Dcoh -. ,.S.'
The amount expended in repari,-r ~. hh
house was absolutely necessary to presess S.,r.
rum, as the roof was in very leaky co.-;,
and the fencing was rotten and down. T'be Es'
now requires some repairs to be made 10 preseryeT
La relation 10 the future policy of the State i'm
relation to the State Bank would respectfnllx
suggest the propre,y Of adopting some mode yhere-
by the expenses of col Getting the debts due the hank
may be reduced.
The available assets yet outstanding are now
/ reduced TO less than S3U0,Qo0.
The debts already lost aud those known 10 be
entirely insolvent, should be stricken cut of the
assets. as they only encumher the books, and give
the officers "a great deal Of unnecessary work and
trouble.
The debts reported as doubtful or at least a large
portion OF them, might be placed in the hands Of
attorneys, residing in counties where tile parties
do, aud give them power to compromise The debts.
SO as TO secure portion, il all cannot be collected
The Office of Financial Receiver might, with pro-
prety, be abolished, aud the assets of the bank and
branches placed in The hands OF the Stale Treas
Since the adjournment Of the last i.egis!aturs.+
Judgments have been obtained against ahe bank.
on her paper, in favor Of james M Curran and
John q. Cocks For the amounts, 1 respectfully
refer you TO the report Of ID. w. Carroll, ESQ,
attorney for the principal bank, accompanying
this report, marked III. I.irl r.f it' =
Before closing this report, i must, in sus:ice TO
myself state, that will be found in the tables
exhibiting the condition OF the branches as the
books at none OF thein were regularly kept up
since the act of liquidation went INTO effect: con.
sequently It rs impossible to ascertain the condition
oil every note. l have endeavorei to show the
condition OF every note, aud have doue SO from the
pest information have been able TO procure
When errors are found, hope they will be at.
tribuied TO the want Of proper entries on the books
from which could have obtained the necessary.
information, and not from any desire OH r..y part
to ulisrepresent any.
l have the honor TO be,
respectfully, your obi serv't,
JOHN VI. ROSS, rd
Fnanciat Rece,rcr.
Receives Office, State Bank, Little Rock
)etn nharI