The true Democrat., 1857-05-12

7' P''0S' nun uhder the control of the trustees and It how remains to be seen what prospect there IS ot the liabilities of the bank anu , 1le otate being ultimately discharged.
 laNllS together the reports made by the re- O0'te' ana the accountants and making use of Such additional facts as the accountants hava u u n'ScoFered since their report was printed the following estimate may be given of the asset. and liabilities of t..e Real Estate Bank:
 GROSS ASSETS. Amount of bills and dnotes
 cue to the bank aui clas-
 sei aS good by the Re eelNer ;......-..:. :...... $4o5277 25 Interest the con to Oct. lot
 l'o' .-..;,..,.. l4o4l5 S5 $545 ,6g8 II Amount of notes and bills
 due to the bank, cla~Seu
 as doubtful by the ketei-
 Yer. .-....-........... 99,634 23 Amount of notes and bi.ls
 due to the b1nk c.u>s-d
 a~ worthless by the ite- , ver-......... ...... ..... 4208-5 59 Interest on the bad and
 douhtiu' debts. com
 pnfed ny th9 Account
 ants ........... lT3 500 O7 eoA 9,e co 6O.6z5 uCrc- ol stock Iau,ls
 which when pledged for
 stock were valued a1... 952 2GS % 22 5o1 acres of ether lnts
 valued at the same r,tes
 as The stock aulS... 4o8 5f6 Oo I aza %. o, SIX five per cen. bon .S of iha State of ArHaIis. G0OO co Interest thereon to Oct. lst
 lo)p. .................. I25 OD IO 125 m C'lc"I county ScrIt....... 40u % swamp land Script...... 24>3 90 Uncureut money ..... 4S1 I3 . pctle ............. 4gg 63 reee e Banking house and lots in
 Little Rock and bank
 ing house lot in Wash
 lngtOn valued at cost
 ay.................... 8oooo oo Remaining stock lands. V' l2i.loI acre, on which,
 the bank has such claims
 only a. are given toittv
 stock bonds and stock
 mortgages. ......... S2 42S 4-5 &
 Total. al................$5 $5 o753 o3 The estimate differs slightly in the general results, from thit given bv the accountants in their report. This Is par,ly owing to our intro duclng Into It the balk!u5 house aud lots in the city ot Little Rock, and the banking house lots in the town of Washington; auG partly owing to the accountants hariug-ttcr their report was m type-mlde ail.tional inquiries in regard to the lands pledged to and owed bv the back The result of these additional inquiries they have gwen in their answer to nterro tatory AlN, and we have been governed thereby In making this estimate
 IL Is impossible to state the exact value ef the assets of the bank In regard to the lands the accountants could do no more than rate them at one half of tn .ir stock valuation. and then they addeI, that this in ghr be estimatin, them too high.
 The following estimlte has been made on different principles:
 NET ASSETS Bills and notes due to the bank and
 cla>-eI ae Z 'od Dy the Receiver with interest thereon to O.t, l, ls'5.....s 520 5o6 s2 Amount which. according to e>luna,c ot accountants, may b; collected for
 principal and interest of notes and
 Oils cla-,ed hy the Receiver as doubt iHi and worth ees.......-... ....... 54,3j6 Ss Amount Of ad litpnIl balances dis covered by the aceountanlunt> due by solvent parties. pTu>unIug the same to
 be sustained by thseourt. 5000 % 5p,6Z3 acres "t stock lands, valued al the rate at winch 6.952 I.re> of such lands
 have been so'd by the trusree,....... 578,359 % 22 3o7 acres of other lands and 2l town
 lots valued at the rate at which ; log acres of such lauds have been sold by the trustees ....................... 22l 1850 % Banking house and lots at Little Rock and banking house lots ill Washing ton, worth. say..................... 10000 % SIX Arkan-a' five per cent. bonds and
 interest thereon .................... l0I25 O0 Chlcot county script < 4oO. worth say, 2.2DU UU swamp land script S2.4o.. worth say, l.737 Al Specie on hand Oct. lst, loJ6 J6.......... 499 63
 Sl 465,gs+ T Remaing stock lands, 127 ls7 acres va
 ued at the rate It which 6.y42 acres
 ot such lands have been sold S1 2O2 934 64
 Total ,,e u.a a. This estimate exceeds that of the account, ants, in the sum of nearly l75,O0O dollars The difference Is owing, partly to our proceed ng on different principles in calculating the value of the land, partly to our veuturing to atiX valuc to the banking house and los at Little Rock and the banking house lots at Washington, and partly to our introducing the additional balances discovered by the account ants, but winch they dil not see proper to iu- sert in their account, as they have not yet been sanctioned by the court.
 All such estimates are necessarily more or less coniectural. The net value of the asset, of the bank, will depend on the manher in which they are m,uaLed. The amount of debts that will be collected will depend on the energy of the collecting officers. The amount the lands will bring. will depend in a great de- gree on the judgment thatis shown in bringing them al proper time into the market. + k with satisfaction we state. that since the R., cniver made his report. he has collected about S9O, ,UOD of the lrbts due to the bank
 There is no difficulty in ascertanns the lja blries of the bank They were on the first of Oct. 1856, as follows: Due for notes in ccuation. ....S 15,280 % Due todcpoaitors and others. Is, 36J 66 Due for l, l69 Real Estate Bank
 bonds remaining unredeemed,
 and for intererst on the same. 2, 1f7 ,93O % Due for money borrowed on
 bonds h, pothocated ..... 121,336 59 Due for interest on the same, to
 October 1st, 1856. ......... ll2,8f3 0l
 S2,415,759 % To this sum should be added what was due by the bank to the State for annual bonus at the time the charter was forfeited. This was on an adjustment of the account by the audi tor of State, found to be on the 29th day of July, 1914, twelve thousand, eight hundred and twenty-six dollars and thirty seven cents- The accountants, so far as appears, fonnd DO note of this in any of the books or papers of the trustees but they have since met with it, in one of the State documents of the year l84f. If interest at six per cent. be added up to Oct. lst. 1856. it will increase the liabilities of the bank in the sum of S22. l89 62, and make the total S2, ,437, ,949 S8. In addition to this It Is proper to state that of the percentage on sales of public lands due to the State of Arkansas the United States treasury department has as appears from the Governors message held back S59 l42 3l, on account Of interest due on 500 Real Estate bank bonis purchased for the use of the Smithsonian Institute. A summing upsf these accounts will show that instead oi the