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This Day in Arkansas History

November 26, 1935

Owney Madden, gangster and underworld boss in New York City in the 1920s, married a Hot Springs (Garland County) gift-shop clerk, Agnes Demby, the daughter of the local postmaster. Madden had retired to Hot Springs in the 1930s. Though his role in Arkansas politics and history will forever remain enigmatic, he was a powerful figure (from about 1935 until his death in 1965) during the heyday of illegal gambling in Hot Springs and an emblem of the bad old days of machine politics.

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Arkansas Real Estate Bank Stock Certificate

The initial act passed by the first state legislature in 1836 was the establishment of the Real Estate Bank of the State of Arkansas. Capital was raised for the bank by the issuing of two million dollars’ worth of five-percent bonds. The 1839 stock certificate shown here represents twenty-five of those Real Estate Bank shares. The bank, which was a source of political corruption and financial mismanagement, was taken over by the state in 1855. The legacy of the failure much damaged Arkansas’s financial future.

 

The initial act passed by the first state legislature in 1836 was the establishment of the Real Estate Bank of the State of Arkansas. Capital was raised for the bank by the issuing of two million dollars’ worth of five-percent bonds. The 1839 stock certificate shown here represents twenty-five of those Real Estate Bank shares. The bank, which was a source of political corruption and financial mismanagement, was taken over by the state in 1855. The legacy of the failure much damaged Arkansas’s financial future.

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About the Encyclopedia

The CALS Encyclopedia of Arkansas is a free, authoritative source of information about the rich history, geography, and culture of Arkansas. It is updated regularly to ensure the people of Arkansas have an accurate and accessible resource to explore our heritage. We invite you to browse our text entries and media galleries to learn more about the people, places, events, legends, and lore of the 25th state. We are continually adding new entries, photographs, maps, videos, and audio files, so check back frequently to see what’s new.

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