gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b282a4763ecb81b6
Response Measures
Accommodated withdrawals, Full suspension
Other: Bank was placed in the hands of a receiver after the August suspension and later resumed business.
Description
March run was caused by street rumors; August suspension described as precautionary despite claims of solvency; bank later resumed.
Events (5)
1.December 11, 1863Chartered
Source
historical_nic
2.March 27, 1893Run
Cause
Rumor Or Misinformation
Cause Details
Curbstone loungers predicting failures prompted nervous depositors to withdraw funds; withdrawals were quickly redeposited.
Measures
Depositors redeposited funds after rapid withdrawals; routine continued at other large banks.
Newspaper Excerpt
a small run was made on the First National, but the depositors got their money so rapidly that they became convinced their fright was an error and in nearly every instance redeposited.
Source
newspapers
3.August 10, 1893Suspension
Cause
Macro News
Cause Details
Suspension occurred amid broader 1893 banking distress/panic period; reports state no question of solvency, suggesting precautionary suspension.
Newspaper Excerpt
The First National bank of this city suspended yesterday after banking hours. A statement has not yet been given out.
Source
newspapers
4.September 11, 1893Reopening
Newspaper Excerpt
The First National Bank of this city, which suspended Aug. 10, gave public notice yesterday that Monday next it would resume business. (reports Sept. 9–13 that the bank has resumed.)
Source
newspapers
5.July 8, 1912Voluntary Liquidation
Source
historical_nic
Newspaper Articles (21)
1.March 28, 1893Daily Kennebec JournalAugusta, ME
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Article Text
y I NASHVILLE BANKS Experience a Little Rough Weather but the Storm Quickly Disappears. NASHVILLE, Tenn March 27.-Today there was some excitement on the streets where the banks are located, chiefly caused by loungers. who predicted the failure of the principal banks of the city. The business portion of the city was not agitated. t A small run was made on the First National, but the depositors got their money I so rapidly that they became convinced that their fright was an error and in nearly every instance re-deposited Two smaller banks, both doing business under state charters. had savings departI ments connected with them and upon the principal runs made. The bank of Commerce, with deposits amounting to about 850,000. suspended payment and made a general assignment. The directors of the Mechanics Bank deel led to take advantage of the law requir! ing 60 days' notice from depositors and sus1 pended payments. This bank will probably resume in . few days as soon as the restleas feeling disappears. The assets are in excess of the liabilities. ) All the other banks transacted busines I as usual and reported the deposits in excess ) of the withdrawals. The liabilities of the Bank of Commerce are 897.000: capital z stock 827,000. All the leading financial I and business men of the city think the , flurry over. As a result of the suspension , of the Mechanics bank, Lewes E. Baxter, president has as-igned. No other assignments are reported and none anticipated.
2.March 28, 1893The Record-UnionSacramento, CA
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Article Text
PAYMENT SUSPENDED. A Run on Banks Causes Excitement at Nashville. NASHVILLE (Tenn.), March 27.-To-day there was much excitement on the streets where the banks are located. Considerable uneasiness was felt as the result of Saturday's developments, and when the banks opened a small run was made on the First National, bnt the depositors got their money SO rapidly that they became convinced their fright was an error, and in nearly every instance redeposited. At
3.March 28, 1893The Indianapolis JournalIndianapolis, IN
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Article Text
of the quarrel that began when Mr. Voorhees received such prompt recognition at the White House. SMALL PANIC AT NASHVILLE. Carbstone Loungers Start Runs on the Banks -Two Small Ones Suspend Payments. NASHVILLE, Tenn.. March 27.-To-day there was some excitement on the streets where the banks are located. but the chief exoitement was caused by curbstone loung. ers, who were predicting the failure of the principal banks of the city, and whose conversation made doubting depositors somewhat uneasy. The business portion of the city was not at all agitated, and conducted busiLees as usual. At9 o'clock, the hour the banks open, quite a crowd had gathered at the corner of College and Union streets, in the vicinity of the banks, and when the doors of the banks were opened a small run was made on the First National. but the depositors got their money 60 rapidly that they became convinced that their fright was an error, and in nearly every instance redeposited. At the other large State and national banks' business went on as usual. In all of these banks the deposits during the day exceeded the withdrawals Two of the smaller banks, both doing business under State charters, at an early hour took advantage of the privilegee given them by the law, and required sixty days' notice of the withdrawal of deposits. Both of these banks had savings departments connected with them. and upon these two banks the principal runs were made. One of them. the Bank of Commerce, doing a small business with deposits amounting to about $50,000, suspended payments. though it might have availed itself of the eixty days' notice to depositore. This break is rather a bad one, but only email amounts. The Mechanics' Bank, another small State institution with a savings deposit department and having very many small creditors, opened its doors as usual, but soon it was evident that a run was being made upon it and the directors met and decided to take advantage of the law requiring sixty days' notice from depositors, and suspended payments. This bank will in all probability resume in a few days, as soon as the unquiet feeling disappears, as this bank has assets in excess of its liabilities, and only suspended for the benefit of all creditors. All the other banks transacted business as usual, and report deposits in excess of withdrawals. The feeling of uneasiness produced by the suspension, Saturday. of the Commercial National Bank has almost disappeared.
4.March 28, 1893The Helena IndependentHelena, MT
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Article Text
NASHVILLE BANKS. Two More of them Go Into LiquidationPanic Over. NASHVILLE, Tenn., March 27. - -To-day there was much excitement on the streets where banks are located. Considerable uneasiness WAS felt as the result of Saturday's developments, and when the banks opened a small run was made on the First national, but depositors got money 60 fast they became convinced their fright was an error, and in nearly every instance redeposited. At other large state and national banks business went on as usual. Two of the smaller banks, both doing business under state charters. took-advantage early of the privileges given them by law and required sixty days notice of withdrawal of deposits. Both these banks had savings departments. and upon these two banks the principal runs were made. One of them, the Bank of Commerce, doing a small business, with deposits amounting to about $50,000, suspended payments, and made a general 818signment to the state laws for the benefit of all creditore. This break is rather a bad one. Another small state institution, with a saving department, and having many creditors, opened its doors as usual, but soon it was evident a run was being made and the directors decided to take advantage of the law requiring sixty days notice from depositors and suspended payments. This bank will, in all probability, resume in a few days, as it has assets in excess of liabilities and only suspended for the benefit of all creditors. The liabilities of the Bank of Commerce are $97,000, capital stock $27,500. Lewis T. Baxter. president, made a special assignment for the benefit of the bank and other creditors. No other assignments are reported and none are anticipated.
5.March 28, 1893The Morning CallSan Francisco, CA
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Article Text
BANK FAILURES. General Uneasiness Over the Nashville Panic. NASHVILLE, Tenn., March 27. - There was much excitement to-day on the streets where the banks were located. Considerable uneasiness had been felt as to the result of Saturday's developments, and when the banks opened a small run was made on the First National, but the depositors got their money so rapidly that they became convinced that their fright was an error, and in nearly every instance redeposited. At other large State and national banks business went on as usual. Two of the smaller banks, both doing business under State charters, took advantage early of the privileges given them by law and required sixty days' notice for the withdrawal of deposits. Both these banks had savings departments, and upon these two banks the principal runs were made. One of them, the Bank of Commerce, doing a small business, with deposits amounting to about $50,000, suspended payments and made a general assignment under the State law for the benefit of all creditors. This break is rather a bad one. Another small State institution, the Mechanics' Bank, with a savings department, and having many creditors, opened its doors as usual, but as soon as il was evident that a run was being made, the directors decided to take advantage of the law requiring sixty days' notice from depositors and suspended payments. This bank will, in all probability, resume in 8 few days, as it has assets in excess of Its liabilities, and only suspended for the benefit of all its creditors. The liabilities of the Bank of Commerce are $97,000; capital stock, $27,500. Lewis T. Baxter, the president, made a special assignment to-day for the benefit of the bank and his other creditors. No other 23signments are reported and none are anticipated.
6.March 28, 1893The Seattle Post-IntelligencerSeattle, WA
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Article Text
NASHVILLE BANKS FAIL. Three of Them Close Their Doors in Consequence of Runs on Deposits. NASHVILLE, Tenn., March 27.-Today there was much excitement on the streets where banks are located. Considerable uneasiness was felt as a result of Saturday's developments, and when the banks opened a small run was made on the First National. But depositors got their money so fast that they became convinced that their fright was an error and in nearly every instance redeposited. Atother large state and national banks business went on as usual. Two of the smaller banks, both doing business under state charters, took advantage early of the privileges given them by law and required sixty days' notice of withdrawal of deposits. Both these had savings departments and upon these two banks the principal runs were made. One of them, the Bank of Commerce, doing a small business, with deposits amounting to about $50,000, suspended payments and made a general assignment under the state laws for the benefit of all creditors. This break is rather a bad one. Another small state institution with a savings department and having many creditors, opened its doors as usual, but soon it was evident that a rush was being made and the directors decided to take advantage of the law requiring sixty days' notice from depositors and suspended payments. This bank will in all probability resume in a few days, as it has assets in excess of its liabilities, and only suspended for the benefit of all creditors. The liabilities of the Bank of Commerce are $97,000. and the capital stock $27,500. Lewis T. Baxter, president, made a special assignment today for the benefit of the bank and other creditors. No other assignments are reported and none are anticipated.
7.March 28, 1893Deseret Evening NewsSalt Lake City, UT
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Article Text
EXCITEMENT IN NASHVILLE. A Small KILL on the First National Bank. NASHVILLE, Tenn., March 27.-Today there was much excitement on the streets where the banks are located, and when they were opened a small run was made on the First National, but the depositors got their money 80 fast they soon became convinced that their fright was an error and in nearly every instance redeposited. At the other large national banks business went on as usual. Two of the smaller banks, both doing business under state chartere, took [advantage of the privileges given them by law, and required sixty days' notice of the withdrawal of deposits. Both of these banks had savings departments, and upon these two banks the principal run was made.
8.March 28, 1893The Salt Lake HeraldSalt Lake City, UT
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Article Text
NASHVILLE FINANCIAL TROUBLES. The Mechanics Savings Bank Forced to Close Its Doors. NASHVILLE, Tenn., March 27.-Today there was much excitement on the streets where the banks are located. Considerable uneasiness was felt as a result of Saturday's developments, and when the banks opened, a small run was made on the First National, but depositors got their money so fast they soon became convinced their fright was an error, and in every instance re-deposited. At the other large national banks business went on as usual. Two of the smaller banks, both doing business under state charters, took advantage early of the privileges given them by law, and required over sixty days' notice of the withdrawal of deposits. Both these banks had savings deposits, and upon these banks the principal runs were made. One of them, the bank of commerce, doing a small business with deposits amounting to about $50,000, suspended payments and made a general assignment #under state laws for the benefit of all the creditors. This break is rather a bad one. Another small state institution, with a savings department, and having many creditors, opened its doors as usual, but soon it was evident a run was being made and the directors decided to take advantage of the law requiring sixty days' notice from depositors and suspended payments. This bank will, in all probability, resume in a few days, as it has assets in excess of liabilities, and only suspended for the benefit of all creditors. The liabilities of the bank of commerce are $97,000; capital stock $27,000. Lewis T. Baxter, president, made a special assignment today for the benefit of the bank and other creditors. No other assignments are reported and none anticipated.
No Available Assets. NASHVILLE, Tenn., Aug. 10.-The First National bank has suspended. There is no question of the bank's solvency.
10.August 10, 1893The Providence NewsProvidence, RI
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A Tennessee Bank Suspends. NASHVILLE, Aug. 10.-The First National bank of this city suspended yesterday after banking hours. A statement has not yet been given out.
11.August 11, 1893Daily Kennebec JournalAugusta, ME
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Suspended Payment, NASHVILLE, Aug. 10.-The First National bank of the city suspended yesterday after banking hours. A statement has not yet been given out.
GILLIE, September 2. NEWSY GLEANINGS. Items of Interest from Various Points in Tennessee. About eight car-loads of negroes passed through Memphis Tuesday, en route to the coal mines situated in southwestern Kansas. They were all from the vicinity of Birmingham, Ala. The army of Tennessee will be removed from Big Mountain and Coal Creek this week. The troops at Fort Anderson were removed to Yarnell Station Tuesday, and those at Big Mountain were removed to Knoxville yesterday. Quite a flutter has been created in Chattanooga social circles by Judge Moon, who recently charged the grand jury that the playing of progressive euchre for prizes is gambling, and instructing them to indict persons who play euchre or other games for prizes. The doors of the American National Bank of Nashville, were opened Monday after having been in the hands of a receiver for several weeks. On the first day of its resumption of business $7,000 were paid out and $360,000 taken in. Evidently it was confidence returning with a rush. The First National Bank, which is now in the hands of a receiver, will reopen the first of next week.
14.September 10, 1893The Morning NewsSavannah, GA
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Bank to Resume Monday. Nashville, Sept. 9.-The First National Bank of this city, which suspended Aug., 10, gave public notice yesterday, that, Monday next it would resume business.
15.September 10, 1893The TimesRichmond, VA
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More Banks Resuming. NASHVILLE. TENN., Sept. 9.-The First National Bank of this city, which suspended Aug. 10th. gave public notice yesterday that Monday next it would resume business.
16.September 10, 1893Richmond DispatchRichmond, VA
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Nashville Bank Resumes. (By telegraph to the Dispatch.) NASHVILLE. TENN.. Sept. 9.-The First National Bank of this city, which suspended August 10th, gave public notice yesterday that Monday next it would resume business.
17.September 13, 1893The Guthrie Daily LeaderGuthrie, OK
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National Banks to Reopen. WASHINGTON, Sept. i2.-The following banks which recently suspended, have been permitted to reapen: The First National, Provo, Ore.; First National, Nashville, Tenn, and the First National, Lemars, Iowa.
18.September 13, 1893The StarReynoldsville, PA
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FINANCIAL AND COMMERCIAL. he first national bank of Nashville, Tenn., which suspended August 10, has resumed. The national bank of Sturgis, Mich., has been permitted to reopen its doors.
19.September 14, 1893The Middleburgh PostMiddleburg, PA
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Financial and Commercial. The first national bank of Nashville Tenn., which suspended August 10, has re sumed. The national bank of Sturgis, Mich., has been permitted to reopen its doors.
20.September 16, 1893The Grenada SentinelGrenada, MS
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To Resume. The First national bank of Nash. ville. Tenn., which suspended August 10, gave notice the other day that it would resume business in a short time.
To Resume. The First national bank of Nashville. Tenn., which suspended August 10, gave notice the other day that it would resume business in a short time.
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.
