gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a8f6b50f9e52b787
Response Measures
None
Description
Sources show an early-March run with invocation of the 60-day withdrawal rule and a subsequent August suspension and resumption on a 25/25/remaining basis.
Events (4)
1.March 28, 1893Run
Cause
Local Banks
Cause Details
Failure of the Commercial National Bank triggered panic and anticipated raids on Nashville banks.
Measures
Directors resolved to invoke state banking law allowing 60-day notice for withdrawals.
Newspaper Excerpt
The failure of the Commercial National bank ... it was known to half the town that a raid would be made on the money piles of the various institutions ... and the City Savings bank ... opened up their doors.
Source
newspapers
2.March 28, 1893Suspension
Cause
Local Banks
Cause Details
Invoked state banking law (60-day notice) in response to the run triggered by the Commercial National failure.
Newspaper Excerpt
The directors resolved to take advantage of the state banking law, which gives banks organized under it the privilege to demand a 60-day notice from depositors before they can withdraw their deposits.
Source
newspapers
3.August 9, 1893Suspension
Cause
Macro News
Cause Details
Stringency of the money market and broader financial panic prompted a 60-day suspension of payments.
Newspaper Excerpt
The directors of the City Savings bank held a meeting tonight and decided to suspend payment for sixty days. The bank is considered solvent. The suspension is caused by the stringency of the money market.
Source
newspapers
4.August 22, 1893Reopening
Newspaper Excerpt
The City Savings bank, which suspended two weeks ago, resumed today upon the basis of giving 25 per cent. of deposits in certificates bearing interest, 25 per cent. in cash, and the balance payable in sixty or ninety days.
Source
newspapers
Newspaper Articles (16)
1.March 30, 1893Connecticut Western NewsNorth Canaan, Salisbury, Canaan, CT
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Article Text
NASHVILLE'S PANIC. Thousands of Excited Citizens Almost Mob the Bank. NASHVILLE, March 28.-The streets in the vicinity of the banking houses of this city echoed all day the vociferations of a panic stricken throng. Never before were such scenes witnessed here. The failure of the Commercial National bank on Saturday afternoon did not become generally known until after dusk. Nothing else was talked about, and it was known to half the town that a raid would be made on the money piles of the various institutions that would make some of them tremble if not topple over into financial ruin. The First, Fourth, American National, Merchants, Mechanics Savings Bank and Trust company and the Union Bank and Trust company, all of College City. and the City Savings bank, the Capital City bank and the Nashville Safe Deposit Trust and Banking company, just around the corner of Cherry, on Union street, opened up their doors. It was rumored later that the Mechanic's had been caught in the commercial collapse. The officers soon saw that a run which they could not stand was imminent. The directors resolved to take advantage of the state banking law, which gives banks organized under it the privilege to demand a 60-day notice from itors before they can withdraw their deposits.
2.March 30, 1893Freeland TribuneFreeland, PA
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Article Text
NASHVILLE'S PANIC. Thousands of Excited Citizens Almost Mob the Bank. NASHVILLE, March 28.-The streets in the vicinity of the banking houses of this city echoed all day the vociferations of a panic stricken throng. Never before were such scenes witnessed here. The failure of the Commercial National bank on Saturday afternoon did not become generally known until after dusk. Nothing else was talked about, and it was known to half the town that a raid would be made on the money piles of the various institutions that would make some of them tremble if not topple over into financial ruin. The First, Fourth, American National, Merchants, Mechanics 'Savings Bank and Trust company and the Union Bank and Trust company, all of College City. and the City Savings bank, the Capital City bank and the Nashville Safe Deposit Trust and Banking company, just around the corner of Cherry, on Union street, opened up their doors. It was rumored later that the Mechanic's had been caught in the commercial collapse. The officers soon saw that a run which they could not stand was imminent. The directors resolved to take advantage of the state banking law, which gives banks organized under it the privilege to demand a 60-day notice from depositors before they can withdraw their dc. posits.
3.April 6, 1893The Monmouth InquirerFreehold, NJ
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Article Text
NASHVILLE'S PANIC. Thousands of Excited Citizens Almost Mob *the Bank. NASHVILLE, March 28. - -The streets in the vicinity of the banking houses of this city echoed all day the vociferations of a panic stricken throng. Never before were such scenes witnessed here. The failure of the Commercial National bank on Saturday afternoon did not become generally known until after dusk. Nothing else was talked about, and it was known to half the town that a raid would be made on the money piles of the various institutions that would make some of them tremble if not topple over into financial ruin. The First, Fourth, American National, Merchants, Mechanics Savings "Bank and Trust company and the Union Bank and Trust company, all of College City. and the City Savings bank, the Capital City bank and the Nashville Safe Deposit Trust and Banking company, just around the corner of Cherry, on Union street, opened up their doors. It was rumored later that the Mechanic's had been caught in the commercial collapse. The officers soon saw that a run which they could not stand was imminent. The directors resolved to take advantage of the state banking law, which gives banks organized under it the privilege to demand a 60-day notice from depositors before they can withdraw their de posits.
4.August 10, 1893The Daily Morning AstorianAstoria, OR
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Article Text
BANKS GOING IN TENNESSEE. Nashville ,Tenn., Aug. 9.-The First National Bank of this city, the oldest national institution south of the Ohio river, closed its doors this afternoon. The capital is $1,000,000, and the surplus fund of undivided profits, $100,000. The directors of the Fourth National Bank and other capitalists representing several millions of property have signed a guarantee pledging themselves and their individual estates to the payment of all deposits. The directors of the City Savings Bank held a meeting tonight and decided to suspend payment. for sixty days. The bank is considered solvent. An uneasy feeling prevails.
5.August 10, 1893The HeraldLos Angeles, CA
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Article Text
AN UNEASY FEELING PREVAILS, One of the Oldest Banks in the South Suspends. It Is the First National of Nashville, Tennessee. Other Banks Liable to Follow Sait-A Big New York Commission House Falls-Other Financial Disasters. By the Associated Press. NASHVILLE, Tenn., Aug. 9.-The First National bank of this city, the oldest national bank in the section south of the Ohio, closed its doors this afternoon. Capital, $1,000,000; deposits, $1,000,000; surplus fund and undivied profits, $100,000. The directors of the Fourth National bank and other capitalists representing several million dollars' worth of property have signed a guarantee pledging themselves and individual estates to the payment of the debt. Bank Examiner Plumle is in charge. It is believed the bank will resume in 60 days. The directors of the City Savings bank held a meeting tonight and decided to euspend payment for 60 days. The bank is considered solvent. Its deposits are $40,707; assets, $151,499. An uneasy feeling prevaile.
6.August 10, 1893Capital JournalSalem, OR
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Article Text
Nashville, Tenn., Aug. 9.-The First National bank of this city, the oldest national institution south of the Ohio river, closed its doors this afternoon. The capital was $1,000,000; deposits $1,000,000; surplus fund and undivided profits $100,000. Directors of the Fourth National bank and other capitalists representing several million dollars worth of property have signed a guarantee pledging themselves and individual estates to the payment of all deposits. The directors of the City Savings bank held a meeting tonight and decided to suspend payment for sixty days. The bank is considered solvent. An uneasy feeling prevails.
The Flurry In Nashville. NASHVILLE. Aug. 10.-After the suspension of the First National bank of this city the directors of the Fourth National bank held a meeting, those present representing several millions of property, and signed a guarantee pledging themselves, their individual estates, to the payment of all deposits. The directors of the City Savings bank held a meeting and unanimously decided to suspend payment for 60 days. The suspension is caused by the stringency of the money market. The bank is considered solvent.
8.August 10, 1893Deseret Evening NewsSalt Lake City, UT
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Article Text
A LIST OF MAILURES. An Old Bank Institution Closes Its Doors. Nashville, Tenn., Aug. 8.-The First National Bank of this city, the oldest national Institution south of the Ohio river, closed its doors this afternoon. The capital is $1,000,000; deposits $1,000,000; surplus fund and undivided profits, $1,000,000. The directors of the City Savings bank held a meeting tonight and decided to suspend payment for sixty days. The bank is considered solvent.
9.August 11, 1893The Camden ChronicleCamden, TN
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Article Text
NASHVILLE is again in the throes of the financial cyclone, and two banks are involved. The First National, which is the oldest national bank south of the Ohio River, and the City Savings Bank closed their doors Wednesday. It is stated that the suspension is due to the stringency of the money market and the demands of the State and railroads for funds to meet the July interests.
10.August 17, 1893The CometJohnson City, TN
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Article Text
Surgeon Carter of the Marine Hospital Service, has confirmed the verdict of the local medical authorities that one of the suspected yellow fever cases at Pensacola was not yellow fever. He could not determine the character of the other case. The First National Bank of Nashville, of which Mr. Herman Justi, formerly of Louisville, is President, has suspended. The bank is said to be perfectly solvent, but could not realize at present on its assets. The City Savings Bank, also of Nashville, suspended for sixty days. At a meeting called by the committed it charge of the bill for the unconditional repeal of the puechasing clause of the Sherman act, held Tuesday night in the Arling Hotel. Representative Rayner, of Maryland, presided. About forty members were present, representing every section of the country. They compared notes and the meeting felt satified that there was a majority in the House of not less than thirty in favor of the Wilson bill.
WILL RESUME. I NASHVILLE, Tenn., Aug. 21.-The City Savings bank, which suspended two weeks ngo, will resume tomorrow upon a basis of 25 per cent of the deposits in certificates bearing interest, 25 per cent in cash and the balance in sixty or ninety days.
12.August 22, 1893St. Paul Daily GlobeSaint Paul, MN
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Article Text
TELEGRAPHIC TICKS. Dr. George H. Walling died today in his seventy-fourth year of disease of the heart. at Louisville, Ky. Delegate Marcus A. Smith, of Arizona, is seriously ill at the Hotel Cochrane, in Washington, of typhoid fever. The City Savings Bank of Nashville, one of the banks of this city which suspended payment two weeks ago, will resume tomorrow. An Ohio & Mississippi passenger train, from St. Louis and Chicago, was wrecked by a defective switch at Thirty-first and Montgomery streets, Louisville, Ky. A day coach, a Pullman and a Wagner sleeper were thrown in the gutter. The first general conference of negro Democrats was held in Washington yesterday. The object of the conference was to take steps toward extending the Negro National Democratic National League by organizing state league subordinate to the central body. Maj. John C. Lulleman, prominent in business as a real estate dealer, director of the German-American Savings bank and member of the Mullanphy board, controlling a half-miltion dollars charity bequest, committed suicide in St. Louis by shooting himself through the head. At the reception of the cardinals yesterday the pope was in the best of spirits and had his former birthday congratulations from Cardinal Manning repeated from the phonograph. The pope afterwards spoke a prayer to San Joachim, his patron saint, into the phonograph. At Muddy Valley, III., a coal mining town fifteen miles northeast of Murpheysboro, Kid Howard, alias Obe Howord, killed Blatchel Bethare, colored. Howard, a young colored man, had been struck the night before and came back on Sunday threatening vengeance. He asked who had struck him. Some one pointed out Blatchel. and Howard fired several shots, killing Blatchel, and then escaped. and has not yet been caught. Blatchel was not the man he wanted to kill.
13.August 23, 1893The Providence NewsProvidence, RI
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Article Text
NASHVILLE, Aug. 23.-The City savings bank, which suspended two weeks ago, has resumed upon the basis of giving 25 per cent. of deposits in certificates bearing interest, 25 per cent. in cash, and the balance payable in sixty or ninety days.
14.August 23, 1893The SunNew York, NY
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Article Text
Bank Doors Reopening. SIOUX CITY, la., Aug. 22-State Bank Examiner Miller has reported the two suspended State banks at Lemars solvent. Demand certificates are being renewed on time certificates. and the banks will resume in a day or BC. ,The same course will be pursued by the two national banks. which are also solvent. AURORA. 111.. Aug. 22.-Henning's Bank at Plano. III., which suspended several weeks ago. resumed business yesterday. A relative of Mr Henning came forward and relieved the financial stringency. NASHVILLE, Aug. 22.-The City Savings Bank. which suspended two weeks ago, resumed today upon the basis of giving 25 per cent. of deposits in certificates bearing interest, 25 per cent. in cash, and the balance payable in sixty or ninety days.
WILL REOPEN. Nashville, Tenn., Aug. 22.-The City Savings bank, one of the banks of this city which susperded two weeks ago, will resume to-morrow upon the basis of 25 per cent of deposit in certificates bearing interest, 25 per cent cash and the balance in sixty or ninety days. :
WILL REOPEN. Nashville, Tenn., Aug. 22.-The City Savings bank, one of the banks of this city which susperded two weeks ago, will resume to-morrow upon the basis of 25 per cent of deposit in certificates bearing interest, 25 per cent cash and the balance in sixty or ninety days.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
