Planters National Bank (Richmond, VA)

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Episode Information

Episode UID
162800993
Episode Type
Run Only
Bank Type
national
Bank ID
16280 national
Charter Number
1628
Start Date
September 12, 1882
Location
Richmond, Virginia (37.554, -77.460)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b97b555a5b9f55c1

Response Measures

Accommodated withdrawals, Public signal of financial health, Capital injected, Books examined

Events (3)
1. January 15, 1866 Chartered
Source
historical_nic
2. September 12, 1882 Run
Cause
Local Banks
Cause Details
Suspension of the Richmond Banking and Insurance Company (same president) prompted small depositors to withdraw funds from Planters' National Bank.
Measures
Directors held an all-night session, added Charles E. Whitlock and James B. Pace as directors; John B. Davis resigned the presidency and Whitlock was elected president; public assurances of sufficient funds.
Newspaper Excerpt
A slight run on the Planters' National Bank, which began on Monday upon the fact of the suspension being made public, continued until about 1 o'clock, when matters quieted down, under the assurance that there was plenty of money to pay all depositors.
Source
newspapers
3. February 27, 1926 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (14)
1. September 12, 1882 Evening Star Washington, DC
Article from Evening Star, September 12, 1882

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Article Text

Bank Suspension in Richmond. RICHMOND, VA., Sept. 12.-The Richmond Bank. ing and Insurance company have this morning posted at their counter the following notice: The president and board or directors are compelled to suspend business for the present. Trustees will be appointed and it is confidently believed that de. positors will receive dollar for dollar. (Signed,) JOHN B. Davis, President. The bank officers state that the cause of the sus. pension is due to large depositors recently with. drawing their funds. The intimate relations be. tween this bank and the Planters' National Bank (Mr. Davis being president of both) has created uneasy feeling among the depositors in the latter, causing small depositors to withdraw their funds. Business men having large deposits are rallying to its aid. -The directors of the Planters' National Bank were in session all last night examining its condition, and at five o'clock this morning Chas. E. Whitlock and James B. Pace, two of the wealthiest men in the city, were elected directors. John B. Davis then resigned the presidency and Chas. E. Whitlock was elected president.

2. September 12, 1882 Public Ledger Memphis, TN
Article from Public Ledger, September 12, 1882

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Bank Suspension. RICHMOND, September 12.-The Richmond Banking and Insurance Company this morning suspended. At the counter the following notice appeared from the President and Board of Directors: "We are compelled to suspend business for the present. Trustees will be appointed, and it is believed that depositors will receive dollar for dollar." The notice is signed by the President, John B. Davis. The bank-officers state that the cause of the suspension is due to the fact that large depositors have recently withdrawn their funds, which action so materially contracted and embarrassed their business that they were forced to the step taken. Intimate relations between this bank and the Planter's National Bank, Davis being President of both, has created an uneasy feeling among depositors in the larter, crusing small depositors to withdraw their funds, and business men having large deposits are rallying to its aid. The directors of the Planter's National Bank were in session all last nightexamining its condition, and at b o'clock this morning Charles E. Whitlock and James B. Pace, two of the wealthiest men in the city,

3. September 12, 1882 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, September 12, 1882

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Article Text

TO-DAY'S TELEGRAPHIC DISPATCHES. Suspension of the Richmond Banking and Insurance Company. RICHMOND, Sept. 12.-The Richmond Banking and Insurance Company have this morning posted at their counter the following notice: The president and board of directors are compelled to suspend business for the present. Trustees will be appointed and it is confidently believed that depositors will receive dollar for dollar. (Signed.) JOHN B. DAVIS, President. The Bank officers state that the cause of the suspension is due to large depositors recently withdrawing their funds, which action so materially contracted and embarrassed their business that they were forced to the step taken. The intimate relations between this and the Planters National Bank (Mr. Davis being president of both) has created uneasy feeling among the depositors in the latter, causing small depositors to withdraw their funds. Business men having large deposits are rallying to its aid. The directors of the Planters National Bank were in session all last night examining its condition and at five o'colck this morning Chas. E. Whitlock and James B. Pace, two of the wealthiest men in thecity, were elected directors. John B. Davis then resigned the Presidency and Chas E. Whitlock was elected President.

4. September 12, 1882 The Daily Gazette Wilmington, DE
Article from The Daily Gazette, September 12, 1882

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A Banking House Suspends. RICHMOND, Sept. 12.-The Richml Banking and Insurance Company has pended. Fears are entertained for the vency of the Planters' Bank, whose preside John B. Davis, is also president of the B pended institution. Davis resigned presidency of the Planters' this morn and its heavy depositors are rallying to support.

5. September 13, 1882 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, September 13, 1882

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DOLLAR FOR DOLLAR. RICHMOND BANKING AND INSURANCE COMPANY SUSPENDS. The Causes of the Failure and How it Was Met-Deed - of Trust Made-No Preferred Claims-Planters National Bank Reorganized: C. E. Whitlock, President; J. B. Pace, Director.

6. September 13, 1882 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, September 13, 1882

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BRIEF TELEGRAMS. Six hundred and forty Mormons arrived at New York yesterday, from Liverpool. The Court House, of Clarion, Pa., was destroyed by fire yesterday. Loss, $60,000. The Crescent mills and elevator at Denr ver, Col., burned yesterday. Lore, $225,000. Mrs. Lucretia Garfield yesterday bought 8 for $50,000 cash the Ralph Worthington residence on Prospect street, Cleveland. 0 The betting on the race between the Hillsdale crew and the crew of the Thames if rowing club, is 2 to 1 against the former. An unsuccessful attempt was made, yesterday, to rob the north bound Pácific train in Indian Territory. One of the robbers was killed. James A. Arnett, a prominent farmer of Lewiston, Illinois, quarrelled with his wife and son Jacob, yesterday, about his (Arnett's) scandatous relations with a young C widow, and as the scuflle was proceeding a younger son, Cyrus, rushed in with a revolver and shot Arnett fatally. 1 Yesterday afternoon Frank Levok, ene gincer of the Co-operative Stoye Works, at Cleveland, Ohio, was "caught in the machinery while adjusting a belt and instantly killed. His neck was broken and both legs wrenched off at the knees, and both arins pulled off at the elbows. A special from Independence, Mo., says: Mrs. H. M. Vaile, wife of the defendant in o the Star route trial, left to join her husband in Washington. A deed conveying the residence of Vaile to his wife was recorded to:day. The consideration was $22,000, about one-fourth of its real value. The Richmond (Va.) Banking and Ind surance Company suspended business yeso terday. The depositors will receive dollar S for dollar. The bank was crippled by e several large depositors withdrawing funds. d The Planter's National Bank was slightly affected owing to John B. Davis being 1 President of both banks. The Directors of of the Planter's National Bank held a proIs longed meeting and Davis resigned and h was succeeded by Chas. E. Whetlock. d Mr. Davis is a brother of Senator Henry G. y Davis, of West Virginia.

7. September 13, 1882 Wheeling Register Wheeling, WV
Article from Wheeling Register, September 13, 1882

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Article Text

A BANK FAILS. Sudden Collapse of a Richmond Depositoly. RICHMOND, VA., September 12.-The Richmond Banking and Insurance Company, this morning, posted at their counter the following notice: "The President and Board of Directors are compelled to suspend business for the present. Trustees will be appointed, and it is believed depositors will receive dollar for dollar. JOHN B. DAVIS, Pres't. [Signed.] The bank officers state that the cause of the suspension is due to a large depositor recently withdrawing funds, which action so materially contracted and embarrassed business, that they were forced to the step taken. The intimate relations betwen this bank and the Planters' National Bank (Davis being President of both) has created an uneasy feeling among depositors in the latter, causing small depositors to withdraw their funds. Business men having large deposits are rallying to its aid. The directors of the Planters' National Bank were in session all last night, examining its condition, and at five o'clock this morning Chas. E. Whitlock and James B. Pace, two of the wealthiest men in the city, were elected directors. John B. Davis then resigned the presidency and Chas. E. Whitlock was elected President.

8. September 13, 1882 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN
Article from Memphis Daily Appeal, September 13, 1882

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Bank Complications at Richmond. RICHMOND, September 12.-The Richmond Banking and Insurance Company this morning posted at the counter the following notice: "The president and Board of Directors are compelled to suspend business for the present. Trustees will be appointed, and it is believed depositors will receive dollar for dollar. "JOHN B. DAVIS, President." The bank officers state that the cause of the suspension is due to large depositors recently withdrawing funds, which action 80 materially contracted and embarrassed business that they were forced to the step taken. The intimate relations between this bank and the Planters' National Bank, Davis being president of both, has created an uneasy feeling among depositors in the latter, causing emall depositors to withdraw their funds. The business men having large deposits are rallying to its aid. The directors of the Planters' National Bank were in session all last night, and at 5 o'clock this morning Charles E. Whitlock and James B. Pace, two of the wealthiest men in the city, were elected directors. John B. Davis then resigned the presidency, and Charles E. Whitlock was lected president. No statement of the condition of the affairs of the company could be obtained today. The amount of deposits is stated at about $600,000, which includes $300,000 belonging to the State of Virginia, this bank being the State depository. This amount is secured by bond, with good security. The actual liabilities are put down at $607,000. Charles E. Whitlock was appointed trustee for the Banking and Insurance Company, and it is probable that in a day or two a definite statement will be made. Whitlock believes the depositors will not lose anything from the delay. John B. Davis, late president of the suspended bank and the Planters' National Bank, is a brother of United States Senator Henry G. Davis, of West Virginia. Much sympathy is expressed for him. A slight run on the Planters' National Bank, which began on Monday upon the fact of the suspension being made public, continued until about 1 o'clock, when matters quieted down, under the assurance that there was plenty of money to pay all depositors, and not the slightest cause for alarm.

9. September 13, 1882 The Semi-Weekly Miner Butte, MT
Article from The Semi-Weekly Miner, September 13, 1882

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Bank Suspension. RICHMOND, Vil., Signing 1:..-The Richmond Banking and Insurance Company this morning posted at its wall 111.. following file of directors are comp iled 100 $11.00.00 business fir the III. Trustees will : . m ii is lue!i vert will re "wire Hollar for dollar. Signed Jolix B. DAVIS President. The bank still the of i. du :10 large depositors withdrawing their funds. whil's illitions ⑉00 and emara bossiness they were to the step. taken. Intimaie relations this invi i Davis i, ing President " both his erent 8.11 un feeling it's differences 1. withdraw unit. Busi. 11fev 088t11. Daving larg.. ill' rollying 100 its aid. Directors of 11se Planter's National Bank were in -ion lille. last night examining its condition and :11 live the mernin. Chass. 1: Whitlock and Jas. B Pare. 1wo 101 the weather electioni directors. Join B. Date withing the President's : illis E Whitlook II elected Pre-icien:.

10. September 13, 1882 Daily Republican Wilmington, DE
Article from Daily Republican, September 13, 1882

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Suspension of a Banking Com. pany. The Richmond Banking and Insurance company of Richmond, Virginia, suspended yesterday in consequence of the withdrawal of their funds by several large depositors. The intimate relations between this and the Planter's National Bank, John B. Davis being President of both,caused many small depositors of the latter to withdraw their money. After an all night session of the directors of the Planters' Bank, examining its condition, at five o'clock yesterday morning Charles E Whitlock and James Place, reputed among the wealthiest men in Richmond were elected directors. John Davis then resigned the Presidency, and C. E. Whitlock, was elected in his place.

11. September 14, 1882 The Emporia Weekly News Emporia, KS
Article from The Emporia Weekly News, September 14, 1882

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Bank Busted. RICHMOND, Va., Sept. 12.-The Richmond banking and insurance company this morning had posted at their counter the following notice: The president and board of directors are compelled to suspend business for the present. Trustees will be appointed and it is believed that depositors will receive dollar for dollar. Signed: John B. Davis, president. The bank officers state that the cause of suspension is due to large depositors recently withdrawing their funds, which action so materially contracted and embarrassed business that they were forced to stop. The intimate relations bet veen this bank and the Plantera national bank, Davis being president of both, has created an uneasy feeling among depositors in the latter, causing small depositors to with. draw their funds. Business men hav. ing large deposits are rallying to its aid. The directors of the Blanters' national bank were in session all last night PT: amining its condition, and at late o'clock this morning Charles E Whitlock and Jas. B. Face, two of the wealthiest men in the city were elected directors. John B. Davis then resigned the presidency and Chas. E. Whitlock was elected pres. idept.

12. September 15, 1882 Bismarck Tribune Bismarck, ND
Article from Bismarck Tribune, September 15, 1882

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Failure of Richmond Bank. RICHMOND, Va., Sept. 12.-The Richmond Banking and Insurance company suspended to-day. No statement of the condition of affairs could be obtained to-day. The amount of deposits are stated to be about $60,000, which includes $30,000 belonging to the state of Virginia, the bank being a state depository. The amount was secured by bond with good securities. The actual liabilities are put down at $607,000. Charles E. Whitlock was appointed trustee for the Banking and Insurance company, and it is probable that in a day or two a definite statement can be made. Whitlock believes depositors will not lose anythingexcept from delay. J. B. Davis, late president of the suspended bank, and Planters' National bank, is a brother of United States Senator Henry G. Davis, of West Virginia, and much sympathy is expressed for him. A slight run on the Planters' National bank, which began immediately upon the facts of the suspension being made public, continued until about 10 o'clock, when matters quieted down under the assurance that there was no cause for alarm.

13. September 21, 1882 Phillipsburg Herald Phillipsburg, KS
Article from Phillipsburg Herald, September 21, 1882

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THE Richmond (Virginia) Banking and Insurance Company suspended business the other morning, with liabilities reported at $607,000. Charles E. Whitlock has been appointed trustee. The amount of deposits is $600,000, one-half of which belongs to the State of Virginia. John B. Davis, President of the defunct concern, was also at the head of the Planters' National Bank, which fact caused a run during the forenoon on the latter institution. Davis resigned the presidency of the Planters' Bank and Charles E. Whitlock was elected his successor.

14. September 28, 1882 The Benton Weekly Record Fort Benton, MT
Article from The Benton Weekly Record, September 28, 1882

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g A BANK'S DOORS CLOSED. Suspension of a Big Instituion at Richmond, Va...Liabilities, $607,000. RICHMOND, Va., Sept. 12. -The Richmond Banking and Insurance Company this morning posted at the counter the following notice : "The president and board of directors are compelled to suspend business for the present. Trustees will be appointed and it is believed that depositors will receive dollar for dollar. Joun B. DAVIS, President." The bank officers state that the cause of suspension is due to large depositors recently withdrawing funds, which action so materially contracted and embarrassed their business that they were forced to the step taken. The intimate relations be tween this bank and the Planters National bank; Davis being president of both, has created an inneasy feeling among depositors in the latter, causing small depositors to withdraw their funds. Business men having large deposits are rallying to its aid. The directors, of the Planters National bank were in session all-last night examining its condition. At 5 o'clock this morning Chas. E. Whitlock: and James B. Hair, the two wealthiest men in the city, were elected directors. Davis then resigned the presidency and Chas. E. Whitlock was elected president. No statement of the condition of affairs of the banking and insurance company could be obtained today. The amount of deposits is stated at about $600,000, which includes $300,000 belonging to the state of Virginia, the bank being the state depository. The amount is secured by a bond with good sureties. The actual liabities put down at 607,000. Charles E. Whitlock was appointed t: ustee for is banking and insurance company, and it is probable that in a day or two a definite statement will be made. Whitlock believes the depositors will not lose anything, except from delay. J. B. Davis, late president of of the suspended Bank and of the Planters National bank, is a brother of the United States senator, Henry G. Davis of West Virginia. Much sympathy is expressed for him. 1 slight run on the Planters National Bank, which began immediately upon the fact of the suspension being made public, continued until about 1 o'clock, when matters quited down under an assurance of plenty o. money to pay all depositors and not the slightest cause for alarm.