Arkansas true Democrat., 1860-05-05
Gov. Conway's Policy for protecting the
 State from loss on account of the Real Estata Rank

QoV. OOuWdJ 1VAASy Ao3 PAutcCtluS tue
 State from loss on account of the Real
 Estate Bank.
 Lportoa in1ormdtion to persons uho hold
 funds thot 'cere morgagea as security to
 the Stote of Arkansas, .for stock in the
 Real Estate Bank.
 Whilst the object of Gov. Conways policy for winding up the affairs of the Real Estate Bank has been to protect the State from any loss on account of the bank, it has also embraced in it mode for effecting that object, without the expenses of litigation, if the holders of lands that were mortgaged , for stock, will avail themselves of the privi- leges granted by sections and 9 of an act of the General Assembly of Arkansas, en- titled "an act to amend an act establishing a separate court of chancery at the seat of government" etc, approved 18th January, 1857, which sections provide as follows:
 "SEc. S. Any person who may have given any stock mortgage to the Real Estate Bank of the State of Arkansas or rtherepresentatives of any such | person may prOVlue IuHu TOT IHe FeutHlptlOn Ol the lands embraced in the mortgage, by depositiug with the State treasurer any bonds coupons that were issued by the State to the bank and that were | sold by the bank; and when such bonds and cou- | pons shall have become payable and a sufficient | amount thereof, with the interest accrued, shall l have been deposited to gay the amount of stock and accrued interest, for which the lands were mortgaged, such depositor, or his representatives, | shall be entite to have the mortgage cancelled and l to hod and to have right to the lands, free from any incumbrance on account of such mortgage, and such depostor or his representatives may apply to the court of chancery, having jurisdiction of the |, matter for confirmation of his title"
 | "SEc g. The deposit, with the treasurer of the bonds as provided for in the preceding section, shall not be taken as a payment into the treasury of the State and shall not work cancellation or satisfactono the bonds, but the treaurer shall hold them as a trustee for the depOslt0r Tor the otate and for all parties concerned, and such bonds small draw interest as other outstanding unredeemed bonds, till final settlement of the stock debt and satisfaction of the stock mortgage, provided for in the foregoing section. And Ill such settlement, if there he any excess of bonds and interest over the stock debt andinterest, the deposor shall nave such excess refunded to him. And on deposit ot bonds and coupons, as provided TOT, lhe treasurer shall give to the depostor three certificates descrb | ing the bonds and coupons deposited, by whom' and against what lands deposited; of which certh' cates one shall remain file in the auditor once, one with the receiver of the assets ot the kaal 1 Estate Bank and one shall be retained by the de- positor; and for receiving each deposit ana giVlhS certificates thereof the treasurer shall receive three dollars, to be paid by the depositor"
 If those who hold lands that were mort gagged for stock in the Real Estate Bank, will procure bonds of the State of Arkan- sas that were issued to and sold by the Real Estate Bank, and will deposit them in accordance with the law above quoted, they will greatly advance their interests.- By so doing, they will avoid all litigation and its attendant expenses, and can enjoy their valuable possessions in quiet. This is a matter of very great importance to the parties interested, and they would be pro- tited by availing themselves of this just and equitable provision of the law.
 By reference to the journals of the Senate and House of Representatives of Arkansas, for the session of 1S56-'7, the REPORT of Wm. M.' Gouge and Wm. R. Miller, ac- countants who investigated the Real Estate | DdIh VIII De IOuIlC, anu III IL d IISI Oi lHe mortgaged lands, and a statement of the valuation of each stockholders lands when mortgaged and the amount of stock award ed upon the lands of each stockholder.- It is estimated that if S30,000 stock was awarded to stockholder, that it will not require more than twenty thousand dollars in bonds and interest on them to release the lands that were mortgaged for thirty thou sand dollars, and so in proportion for less amounts of stock.
 If the parties wait till forced by law to pay, they will find tbm much more troublesome and expensive process. Our advice to all of them is to buy bonds and deposit them as early as they can.