Arkansas true Democrat., 1859-10-26
One of the Trustees of the Real Estate


 To show where the blame of the crip- pied condition of the Real Estate Bank rested, we, several weeks since, took up the transactions of Col. Biscoe with the bank, and showed that the bank was the loser by them The charge was made by Mir. T. c. Hindman that the "Johnsons" ruined the bank. To defend them, and show where the blame justly rested, we were compelled to turn to the Trustees who had the assets in possession from 1S42, till 1855--the space of l3 years. We singled out Col. Biscoe's transactions to comment upon, because he was the father-n-law of Mr. Hindman-the man who raised the question. As Trustee of the Real Els tate Bank, Col. Biscoe was public officer, who had assumed vast responsibilities How he executed the trust reposed in him is matter of legitimate inquiry with every citizen of Arkansas
 In our article above referred to, we point ed out transaction by which Col. Biscoe paid off debt to the Bank of sixteen Mou- sand, taoo Hundred dollars, wih three Hundred and sirty acres of land-the land being valued at S45 per acre. We stated the bank was bound to be the loser in this transaction, as it was impossible to sell the land for its valuation.
 Col Biscoe replied by publishing a card from Arthur Thompson, of Phillips coun- ty, proving that the land was worth $50 -S5 more than he asked the bank for it. Mir. Thompson had purchased the land from the Bank We called upon the Receiver in chancery to know the purchaser, and the price that was paid for the land, and re- ceived the following reply:
 OFFICE OF RECEIVER R. E. BANK,
 Little Rock, Ark. Oct. 22d. 1859. R. H. JOHNSON, ESQ
 Sir: In reply to your note of the 18th inst, have to state, that as Receiver of the bank, sold the 360 acres of land in sec. 2l, T. , s., R. E, on the 5th of September 1859, to Messrs. Arthur
  for the sum of ten thousand dollars, payable in State bonds and coupons, one third in hand and the residue in one and two years, the deferred payments bearing interest at the rate of eight per centum per annum and secured by mort gage on the land. This is the same tract of land conveyed to the late trustees of the bank by Col H. l.. Biscoe, in part payment of his indebtedness to the trust.
 Respectfully, your obd't serv't.,
 GORDON \. PEAY, Rec.
 Thus it is shown that the land was sold for only To- .000 dollars. It cost the bank the sum of Is, 200 dollars. Thus is the bank the loser in the sum of (, 200 dollars And this Is not al-the bank has lost fouuI years of interest on the sum of 1G, 200 dol lars, the amount of Col. Biscoe's debt four years being the time that has elapsed since the purchase and the sale of the land by the bank
 This six thousand, two hundred dollars, thus lost in one of the private transactions of trustee, falls upon the stockholders - They will have it to pay-and if they should not be able to pay it and the multiplicity of other losses, oecasionei by the trustees, amounting in the aggregate to one million, Mree hundred MOuSand do!Iors, the State will have it to pay by q tax upon the peo- pie.
 We make no statements we are not able to substantiate. The balance of Col. Bis coe's card we will reply to as we have time and leisure. We shall show clearly, that it was not the "Johnsons," but the trus- tees, who are responsible for the inability of the bank to pay its debts. Mr. Hind- man need not go out of his own family to find cause for the present crippled condi- tion of that unfortunate institution