gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
eae34f9b7c9e8325
Response Measures
Accommodated withdrawals, Fed/other loan, Public signal of financial health, Capital injected, Full suspension
Receivership Details
Date receivership started
1933-01-20
Date receivership terminated
1933-12-21
Share of assets assessed as good
16.2%
Share of assets assessed as doubtful
72.2%
Share of assets assessed as worthless
11.5%
Description
Bank closed January 1933 and a federal receiver was appointed; later reopening plans were discussed but receiver actions and suits indicate permanent closure.
Events (8)
1.September 19, 1872Chartered
Source
historical_nic
2.November 12, 1930Run
Cause
Local Banks
Cause Details
Heavy withdrawals triggered by the failure of the Holston-Union National Bank in Knoxville area
Measures
Currency on hand was ample; no suspension reported
Newspaper Excerpt
Both the remaining two national banks were subjected to heavy runs on Wednesday, the day the Holston failure was announced
Source
newspapers
3.November 14, 1931Run
Cause
Rumor Or Misinformation
Cause Details
Withdrawals attributed to circulation of false rumors; Reserve cash flown in from Atlanta to reassure
Measures
Emergency currency rushed by airplane from Atlanta Federal Reserve; officials and Fed governor intervened to check withdrawals
Newspaper Excerpt
CHECK RUN ON KNOXVILLE BANK ... Officials attributed the quickly checked run to circulation of false rumors.
Source
newspapers
4.January 20, 1933Receivership
Source
historical_nic
5.January 20, 1933Receivership
Newspaper Excerpt
Receiver Jay M. Riley, receiver for the closed East Tennessee National bank ... filed suit ... the latter date being the last day the bank was open (Jan 18). Comptroller appointed Boone later as receiver after Riley died in June 1933.
Source
newspapers
6.January 20, 1933Suspension
Cause
Bank Specific Adverse Info
Cause Details
Board voted to close after heavy withdrawals and apparent insolvency despite RFC borrowing; led to appointment of receiver
Newspaper Excerpt
KNOXVILLE'S LARGEST BANKING HOUSE CLOSES ... Ben Morton, president ... said the action taken due to and heavy the bank issued ...
Source
newspapers
7.March 3, 1933Other
Newspaper Excerpt
SANFORD CONFERS ON BANK REOPENING ... plan for re-financing not only the East Tennessee National Bank ... to re-open closed banks throughout the country is being sought; amendment to Glass bill mentioned as well as stockholder/depositor agreement plans were pursued for re-opening the bank but under trusteeship and receiver supervision they remained in litigation and receivership actions through mid-1933 and beyond.
Source
newspapers
8.December 21, 1933Restored To Solvency
Source
historical_nic
Newspaper Articles (21)
1.November 14, 1930Evansville PressEvansville, IN
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Article Text
BIG BANK IS FORMED BY KNOXVILLE MERGER
By United Press The East Tennessee National, the City National and the East Tennessee Savings banks were merged today into the East Tennessee National bank. The total resources are more than $32,000,000 The merger came two days after $25 closing of the Holston- Union National bank. Both the remaining two national banks were subjected to heavy runs on Wednesday, the day the Holston failure was announced, but their currency on hand was more than ample.
CHECK "RUN" ON KNOXVILLE BANK
Institution Does Normal Business Rumors Blamed.
000,000 cash rushed by airplane from the Sixth district federal reserve bank at Atlanta in its vaults, the East Tennessee National bank did a normal business today. There was no trace of the flurry of excitement that caused withdrawals of deposits yesterday. Officials attributed the quickly checked "run" to circulation of false rumors. Eugene R. Black, governor of the Atlanta federal reserve bank, visited the bank here for short time today.
3.January 20, 1933The Buffalo NewsBuffalo, NY
Article Text
KNOXVILLE'S LARGEST BANKING HOUSE CLOSES
KNOXVILLE Jan. Affairs the East National largest institution are in the of the the Ben Morton, president of the last night that direcof the bank had voted to close the 2% 6% protection depositors. He said the action taken due to and heavy the bank issued as Dec showed total deposits The was known to have borfrom the 4½ Reconstruction Finance corporation during the last
PARK FUNDS INVOLVED IN CLOSED KNOX BANK
Jan 25 Tennessee Great Mountains today tive closed Tennessee National bank Dempster advised with James Cooper, field attorney attorney assigned Their cluded part the Knoxville after further investigation.
Maynardsville Bank Open for Business
Tenn Jan Menardsville State Bank was open todav week after it was SUSconded following the closing of the East Tennessee National Bank And depositors came in to deposit more "This bank had suspended to avoid any hysteria that might follow- the closing of East Tennessee National at Knoxville.' said R. V. Beeler,
Maynardsville Bank Open for Business
"aynardsville. Tenn., Jan. 27-(U.P)Mounardsville State Bank was open ngain todav. week after it was susmended. following the closing of the East Tennessee National Bank And depositors came in to deposit more
"This bank had suspended to avoid any hysteria that might follow the closing of the East Tennessee National at Knoxville," said R. V. Beeler, vice-president.
BANK REOPENS
Rutledge Suspension to Be Lifted Today.
RUTLEDGE. Feb. 1-The Citizens Bank Trust Co., which gus. pended business January 24, will reopen tomorrow, Cashier C. B. Cabbage, announced tonight. The bank suspended under state laws after closing the East Tennessee National Knoxville and the First National bank in Morristown. Officials said this action was of deand to avoid the effects of caused by the failures. Over 95 per cent. of the Rutledge bank's depositors have signed an agreement not to take any of the bank for 90 days and then to accept five per cent. of their total deposits. Five per cent. of deposits will be paid every 90 days those wanting their cash, Cabbage said. "We have had wonderful cooperation from depositors expect few if any to take their money of the bank when the five per cent. refunds come due. In fact we have been by majority of them that the cash will be left in the bank, which is in every respect,' said. This is the second of several banks to reopen after closing avoid hysteria' after the failure of the East Tennessee in Knoxville. Maynardville State bank at Maynardville was the first to resume business.
ENTERS OFFICE ATHENS, Tenn. Feb. Boyd Wilkins, recently appointed clerk and master for IcMinn county by Chancellor T. Stewart, was inducted into office today. County Court Clerk John E. administered the oath. Mr. Wilkins succeeds Latham, who has been serving the pired term of her late husband. ducted Thursday at 2 m. at Little Emory church. The Rev Mr. Chaney, Harriman, will officlate. Burial will take place in Harriman.
MRS. LUCY SPEARS CHARLES Lucy Spears Charles, died at the home of her daughter, Mrs. Minnie Hale, at p. m. today, following a lingering illness. Funeral services will be conductfrom the M. church, South, Thursday at m. Interment will be in the cemetery. Surviving besides the one daugh ter J. Charles, of Flora Home, Fla,
RILEY ADAMS CROSSV Feb. Funeral services were at Orab Orchard for Riley Adams, 83. who died Rockwood hospital He the oldest Mason Cumberland county, having joined Crossville Lodge No. 483 more than 60 years ago. His widow and one daughter survive.
MRS. LUCY BEELER services conducted yesterday from the Block Springs Baptist church for Mrs. Lucy Beeler, who died Sunday Burial was in the church cemetery.
MRS. ALLIE VALENTINE ELIZABETHTON. Feb. Mrs. Allie Valentine, 32. of Cosby, Ten.n. died at the home of her parents. Judge Mrs. L. B. Morley, of
Rail Employes Call Bank Mass Meeting
Railroad members of the Four" brotherhood, will hold mass meeting Labor Temple m. Tuesday "what can be done East Tennessee National Bank closing. The meeting is sponsored by the Central Labor Union.
SANFORD CONFERS ON BANK REOPENING
To See Bernard Baruch on Refinancing Closed Houses.
Hugh W Sanford Knoxville capitalist has gone from Washington to New York to confer with Bernard M. Baruch, financier and Demperatic leader, about plan that Mr Sanford has worked out for re-financing not only the East Tennessee National Bank of Knoxville but other closed banks thruout the country Ben Morton who was with Mr Sanford at Washington but who has returned to Knoxville, said Mr Sanford did not want the plan given out until it has been approved. Several versions of the plan have been on the street for the last week but none of them is said to be correct Mr. Sanford also is seeking an amendment to the Glass banking reform bill which would permit holders of 85 per cent of the depositors in closed bank to agree to plan for re-opening bank. At present the law requires the consent of every depositor. which is considered next to impossible to obtain.
KNOXVILLE, April 13 (AP).—While Knoxville business men and labor union representatives were conferring in Atlanta in an attempt to reopen the East Tennessee National bank, Receiver Jay M. Riley today notified all stockholders to pay the 100 per cent. assessment on their stock as required by law.
Arrangements were made yesterday to complete the signing of stockholders and depositors of East Tennessee National bank for the reopening plan.
Stockholders began signing up at the office of Cecil H. Baker, General building. Mr. Baker, Charlton Karns, and M. O. Cowan are trustees under the reopening plan. The first to sign was Hugh W. Sanford, who held a large block of the stock. Stockholders must sign notes, put up collateral, and surrender to the trustees their stock in the old bank.
Knoxville Bank Receiver Seeks to Recover Withdrawal
Riley, receiver for the closed East Ten. nessee National bank today filed suit in Federal court against the Andersoncompany seeking to cover $37,000 which the suit charged was from the bank by the company the last two days the bank was open January 16 and 17
Knoxville Trust Co Sued by Bank Receiver Knoxville, Tenn., June delity-Bankers Trust Co. of Knoxville today was sued in federal court by Jay M. Riley, receiver for the East Tennessee National Bank, for $44,882.93 This sum, the complaint alleges, is the total withdrawn Jan 14, 16. and 18, the latter date being the last day the bank was open.
Knoxville Trust Co Sued by Bank Receiver Knoxville, Tenn., June Trust Co. of Knoxville today was sued in federal court by Jay M. Riley, receiver for the East Tennessee National Bank, for $44,882.93 This sum, the complaint alleges, is the total withdrawn Jan 14, 16, and 18, the latter date being the last day the bank was open.
15.June 26, 1933The TennesseanNashville, TN
Article Text
Receiver for Bank Dies
Tenn., June 25 (/P)-Jay Morton Riley, 55, receiver for East Tennessee National bank since its closing last January, died tonight St. Mary's hospital paralysis. He was stricken while work his office Saturday and never regained conselousness. Riley came Knoxville from Pine Bluff, Ark., where he had previously been bank receiver under United States comptroller the currency. His home was in Lincoln. Neb.
16.June 27, 1933Evening Herald CourierBristol, TN
Article Text
BOONE SUCCEEDS RILEY KNOXVILLE. June Boone has been named temporary receiver for the East Tennessee National Bank to succeed Jay Riley, who died Sunday. Boone came Knoxville with Riley from Pine his
Bank Receiver Dead
Knoxville, Tenn., June apoplectic stroke suffered Saturday has proven fatal to Jay M. Riley, receiver for the East Tennessee National Bank. He died at Sunday night. Riley called Lineoln, Neb., home. He came here from Pine Bluff, Ark.
18.June 28, 1933The Atlanta JournalAtlanta, GA
Article Text
Bank Receiver Named Tenn. June has named for the East Tennessee National Bank succeed Jay M. who died last Boone assistant Riley. came Knoxville with Riley from Pinebluff.
19.June 29, 1933Hickory Daily RecordHickory, NC
Article Text
BANK RECEIVER APPOINTED
June The Comptroller the Currency today appointed Boone receiver for the East Tennessee National Bank at Knoxville. Boone, member of the Comptroller's staff, is succeeding the late Riley.
Announcements
Notice is hereby given that spethe East National Tennessee, will be corner and Union Streets Knoxville TenSeptember at .00 o'clock M., the purposes upon the plan National Bank in with certain agreement dated Baker holders, depositors and others terested said East Tennessee hand tional the other modified and approved by the Comptroller the and authorizand instructing the directors and said take all steps and all things necessary carrying plan and agreement into execuChanging the Articles of said East Tennessee for the said the capital bank from Two lars One Million lars any other said Articles of Association which may be deemed necessary the reopening said East Tennessee Acting upon the resignations of the said all such if any, as may be new directors for said bank Taking action as may be necessary bank reducing the said changing the capital Taking all or appropriate action all such other come before affairs, and welfare of (Signed) H. L. VANCE.
BANK MAY AT EARLY DATE
Park Stockholders Continue Daily Sessions.
The stockholders' meeting of the old East Tennessee National bank scheduled for yesterday journed to will from day open the new Park bank In explained, they will avoid meeting of the stockholders while awaiting final action from ington the plans. The bank expected to ready open trustees, Cecil Baker. Cowan and Charlton Karns, under the reopening plan doing all the voting of stock Joseph Gaut temporary chairman and Joe McAfee secretary
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.
