Arkansas true Democrat., 1858-07-21
Another Explosion. {"

| Itbecomes our duly, says tine Helena State ] RGhiS Democrat, (not paiuiui) to record another 1 : 'tremenjus" '" explosion. Wcindulge thc No c that J n1ll not be IS fnal 10 lla ns that whrh I we lllely recorded in inc casa oi the steamer ! Pennsylvania, bnlit will, no doub., cause ma Y az honest man {" lasc many au honestly earIe 1 dollar. The Citizens BanL ol Memphis " ha, busted up It's laie president Ddt'i E. Tur- u") says so, and wc won't dispute his word | w. wouldn't Ike to bet a5anst hs sav-so in Jht matter with anybody. I'll, ba, < has here toiore sustained | far repu at:nn, but has been closely watched lately by knowing ones. But the thing has passed away as ali i things must pass, and for the consolation and
 niorml'ion Of its nole holders, we publish a cad of it's president, who is sad to be the hoHeNtest " man now out ol jail.
 "On or about the 29.h of Jauuarv, made a contract n purchase an interest in the Citizens 1 Bank, on certain cnnditioas, based ou showing made by the contracting party of the circula- 1 tiou of notes anl other liabilities of the said bank, together with the cash means and other assets of the bank to redeem the circulation etc. have remained here up 10 the present time, to have the agreement compiled with on the part of the other party without success. l have left the ban k with every dollars worth of assets. with the addition Of about 5 QUO profits. My account on the books of the bank will show 1 do not owe one cent, nor any money lost or mis- 1 applied, since the date of he contract. w. A. Jones will remain in the bank and pay all de- positors; the balance of the money and other assets will be handed over to the owners of the bank. For the truth Of the above statement, refer to W. A. Jones, who will couirm what have stated. D. B. TURNER
 JULY l2, 1858
 The Memphis AvaiancAe gives the following incideits in connection with the failure of the above concern:
 The announcement of the failure of the Cit zels' Bank yesterday morning, came upon our unsspectng c,tizeus as unexpectedly as clap of thunder from a cloudless sky. Many of the more knowin; ones, who inferred from the signs of the times that the rotten concern was scatter ing her notes broadcast throughout the country, and making other preparations for a grand and profitable failure, have sagaciously rejected tue notes for several days, and thus averted the loss which fell with such crushing effect upon the more creduous and confding,
 It had been officially anuoulicedi in the morn- ing pal CTS that provision Ina been made for the payment of the dcpositors, and it was supposed that the bauk would open her doors at the usual hour yesterday morning for the liquidation of such claims. Ali an early period oi the mor- ing, therefore, long before banking hours, the approaches to the bank uil!ing were thronged by hundreds of eager depositors, with care worn counenancss, and bank books III hand, ready 10 make their demands when the stroke of nine should announce the hour for bushes. Mingled among the anxious crowd forlorn note holder might be seen, with all his earthly store, perhaps, in. hand, hoping to realize at least small per cent. upon the unfaithful pro- mises of the hardhearted banker In the thruno we observed more than one poor woman who had been reduced to beggary by the failure. and whose tears gave painful expression to the feel | lngs which follow the disappointed hopes of the poor, the unfortunate, and the iniured The hour of nine was announced and all | the banking establishments in the city, whose period of failure Is held in abeyance through the public credulitv, had proceeded to business, but so did not the 6nancial heroes of the "Citi- zens" Fearing violence from the injured party without, an officer of the institution called upon the Mayor for protection, aud the City Marshal and a posse of police took pos session of the building. fastened it up securely whereupon the crowd dispersed one by one, doubtless with distinguished considerations oi the Tennessee banking system, under the "ndividual liability" clause.
 1 The news of the failure spread like prairie fire before the wind, and the trains from the different directions that reached the city yester day were freighted with thousands of dollars of the worthless issues of the bank. the hold ers vainly hoping to realize something upol