Articles report that stockholders petitioned and a chancery court appointed a receiver (Jan 30, 1907) after failure of heavy borrowers. No run is described. The bank was put in receivership and remained closed; by July the receiver was paying prorata distributions (not a reopening).
Events (2)
1.January 30, 1907Receivership
Newspaper Excerpt
stockholders of the Bank of Winchester filed a bill in Chancery Court today to have the bank placed in the hands of a receiver. Chancellor McConnell this evening appointed Hon. Jesse M. Littleton receiver. The failure was caused by the failure of some heavy non-resident borrowers.
Source
newspapers
2.July 2, 1907Other
Newspaper Excerpt
A prorata is being paid by the Bank of Winchester, which is in the hands of a receiver. Yesterday and today many thousand dollars have been paid out and still more are coming.
Source
newspapers
Newspaper Articles (4)
1.February 1, 1907The Columbia HeraldColumbia, TN
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Article Text
WINCHESTER BANK CLOSED STOCKHOLDERS' PETITION FOR A RECEIVER IS GRANTED. Hon. Jesse M. Littleton is in Charge. Failure of Heavy Borrowers is Responsible. WINCHESTER, Tenn., Jan. 30.stockholders of the Bank of Winchester filed a bill in Chancery Court today to have the bank placed in the hands of a receiver. Chancellor McConnell this evening appointed Hon. Jesse M. Littleton receiver. The bank is capitalized at $75,000 and had about $300,000 deposited. The loans and discounts amounted to about $350,000. The failure was caused by the failure of some heavy non-resident borrowers. It is thought depositors will be paid in full. None of the merchants or business men of Winchester will be seriously injured.
Receiver For Tennessee Bank. Winehester, Tenn., Special.-On application of stockholders Judge McConnell of the chancery court, appointed a receiver for the Bank of Winchester. Theb ank has $75,000 capital, $300,000 deposits and $350,000 loans and discounts. Depositors, it is claimed, will be paid in full. Report Favoring Big Purchase of
3.February 7, 1907The French Broad HustlerHendersonville, NC
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Article Text
Receiver For Tennessee Bank. Winchester, Tenn., Special.-On application of stockholders Judge McConnell of the chancery court, appointed a receiver for the Bank of Winchester. Theb ank has $75,000 capital, $300,000 deposits and $350,000 loans and discounts. Depositors, it is claimed, will be paid in full. Report Favoring Big Purchase of
4.July 5, 1907The Columbia HeraldColumbia, TN
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Article Text
BUSTED BANK MAY PAY IN FULL WINCHESTER, Tenn., July 2.-P. H. Williams, clerk and master, is working overtime this week. A prorata is being paid by the Bank of Winchester, which is in the hands of a receiver. Yesterday and today many thousand dollars have been paid out and still more are coming. It is thought now that this bank will pay the depositors in full, in the end.
