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Auction: SW1012 - Bonds & Shares Certificates of the World
Lot: 376

Real Estate Bank of the State of Arkansas. Certificate for 16 Shares. Little Rock, 15. May 1839. Water stains on top. This share is an important document from the founding years of the state Arkansas. Arkansas joined the union in 1836. Its new constitution called for the creation of two banks. The State Bank of Arkansas, meant to loan money to individuals, and a The Real Estate Bank of Arkansas, as a land grant bank. The two banks opened for business in 1838, but by 1840 the State bank had failed. Its bonds were then issued to the Real Estate bank. Later these bonds were sold to James Holford, a banker in London. Soon the Real Estate bank failed as well and the ownership of the bonds was transferred to the state. On these so called "Holford Bonds" followed a legal battle that created political turmoil in Arkansas as late as 1906.  VF.

Estimate
SFr300 to SFr400