21013. Grundy County Bank (Tracy City, TN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 31, 1904
Location
Tracy City, Tennessee (35.260, -85.736)

Metadata

Model
gpt-5-mini
Short Digest
2a12342f

Response Measures

None

Description

The bank's doors were closed by the sheriff at the request of the bank president and a receiver (C. H. Garner) was named; bondsmen later settled with the state and state funds were moved. No run is mentioned in the articles.

Events (3)
1. December 31, 1904 Suspension
Cause
Government Action
Cause Details
Sheriff closed the bank at the request of the president; bank suspended operations and a receiver was named.
Newspaper Excerpt
At the request of the president, W. N. Byers, the sheriff closed the institution.
Source
newspapers
2. January 5, 1905 Receivership
Newspaper Excerpt
C. H. Garner has been named as receiver. It is not known here what the outcome will be, but it is said that the assets will more than double the liabilities.
Source
newspapers
3. January 13, 1905 Other
Newspaper Excerpt
Bondsmen of the Grundy County Bank, of Tracy City, which suspended a few days ago, with $3,200 of the State's money on deposit, have settled with the State treasurer. The money was transmitted to the Bank of Winchester.
Source
newspapers

Newspaper Articles (2)
1. January 5, 1905 Sequachee Valley News Sequatchie, TN
Article from Sequachee Valley News, January 5, 1905

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Article Text

BANK IS CLOSED. Sheriff of Grundy County Takes Action At Request of President. Tracy City, Dec.-31. This place has been thrown into great excitement by the closing of the doors of the Grundy county bank. At the request of the president, W. N. Byers, the sheriff closed the institution. C. H. Garner has been named as receiver. It is not known here what the outcome will be, but it is said that the assets will more than double the liabilities. Some of the best business men in Tracy City were depositors and a gloomy feeling pervades the community. The bank was a state depository, containing $3,200 of the State's funds. The state is secured by a bond of $5,000, which has been certified as solvent by the county clerk and clerk and master. The institution was a state bank.

2. January 13, 1905 Lawrence Democrat Lawrenceburg, TN
Article from Lawrence Democrat, January 13, 1905

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Article Text

Settled With Mrs. Folk. Bondsmen of the Grundy County Bank, of Tracy City, which suspended a few days ago, with $3,200 of the State's money on deposit, have settled with the State treasurer. The money was transmitted to the Bank of Winchester.