American National Bank (Nashville, TN)

Episode Information

Episode UID
303201124
Episode Type
Run โ†’ Suspension โ†’ Reopening
Bank Type
national
Bank ID
30320 national
Charter Number
3032
Start Date
August 10, 1893
Location
Nashville, Tennessee (36.166, -86.784)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5fb84aab24774f05

Response Measures

Accommodated withdrawals, Public signal of financial health, Full suspension

Description

Suspension followed an active run tied to other local bank failures; reopened about three weeks later.

Events (4)

1. August 16, 1883 Chartered
Source
historical_nic
2. August 10, 1893 Run
Cause
Local Banks
Cause Details
Panic after failure/suspension of other Nashville banks (Commercial National, First National) triggered heavy withdrawals
Measures
Bank announced decision to suspend payment after heavy withdrawals
Newspaper Excerpt
In three-quarters of an hour large checks amounting to $95,000 had been presented and paid
Source
newspapers
3. August 10, 1893 Suspension
Cause
Local Banks
Cause Details
Directors suspended payment in response to runs and drain on resources following other local bank failures
Newspaper Excerpt
The American National bank has suspended payment.
Source
newspapers
4. September 1, 1893 Reopening
Newspaper Excerpt
The American National Bank of Nashville, Tenn., has been permitted to reopen their doors for business
Source
newspapers

Newspaper Articles (24)

Article from Connecticut Western News, March 30, 1893

Click image to open full size in new tab

Article Text

NASHVILLE'S PANIC. Thousands of Excited Citizens Almost Mob the Bank. NASHVILLE, March 28.-The streets in the vicinity of the banking houses of this city echoed all day the vociferations of a panic stricken throng. Never before were such scenes witnessed here. The failure of the Commercial National bank on Saturday afternoon did not become generally known until after dusk. Nothing else was talked about, and it was known to half the town that a raid would be made on the money piles of the various institutions that would make some of them tremble if not topple over into financial ruin. The First, Fourth, American National, Merchants, Mechanics Savings Bank and Trust company and the Union Bank and Trust company, all of College City. and the City Savings bank, the Capital City bank and the Nashville Safe Deposit Trust and Banking company, just around the corner of Cherry, on Union street, opened up their doors. It was rumored later that the Mechanic's had been caught in the commercial collapse. The officers soon saw that a run which they could not stand was imminent. The directors resolved to take advantage of the state banking law, which gives banks organized under it the privilege to demand a 60-day notice from itors before they can withdraw their deposits.


Article from Freeland Tribune, March 30, 1893

Click image to open full size in new tab

Article Text

NASHVILLE'S PANIC. Thousands of Excited Citizens Almost Mob the Bank. NASHVILLE, March 28.-The streets in the vicinity of the banking houses of this city echoed all day the vociferations of a panic stricken throng. Never before were such scenes witnessed here. The failure of the Commercial National bank on Saturday afternoon did not become generally known until after dusk. Nothing else was talked about, and it was known to half the town that a raid would be made on the money piles of the various institutions that would make some of them tremble if not topple over into financial ruin. The First, Fourth, American National, Merchants, Mechanics 'Savings Bank and Trust company and the Union Bank and Trust company, all of College City. and the City Savings bank, the Capital City bank and the Nashville Safe Deposit Trust and Banking company, just around the corner of Cherry, on Union street, opened up their doors. It was rumored later that the Mechanic's had been caught in the commercial collapse. The officers soon saw that a run which they could not stand was imminent. The directors resolved to take advantage of the state banking law, which gives banks organized under it the privilege to demand a 60-day notice from depositors before they can withdraw their dc. posits.


Article from The Monmouth Inquirer, April 6, 1893

Click image to open full size in new tab

Article Text

NASHVILLE'S PANIC. Thousands of Excited Citizens Almost Mob *the Bank. NASHVILLE, March 28. - -The streets in the vicinity of the banking houses of this city echoed all day the vociferations of a panic stricken throng. Never before were such scenes witnessed here. The failure of the Commercial National bank on Saturday afternoon did not become generally known until after dusk. Nothing else was talked about, and it was known to half the town that a raid would be made on the money piles of the various institutions that would make some of them tremble if not topple over into financial ruin. The First, Fourth, American National, Merchants, Mechanics Savings "Bank and Trust company and the Union Bank and Trust company, all of College City. and the City Savings bank, the Capital City bank and the Nashville Safe Deposit Trust and Banking company, just around the corner of Cherry, on Union street, opened up their doors. It was rumored later that the Mechanic's had been caught in the commercial collapse. The officers soon saw that a run which they could not stand was imminent. The directors resolved to take advantage of the state banking law, which gives banks organized under it the privilege to demand a 60-day notice from depositors before they can withdraw their de posits.


Article from Asheville Daily Citizen, August 10, 1893

Click image to open full size in new tab

Article Text

Not Paying Today. NASHVILLE, Tenn, Aug. 10.-The American National bank has suspended payment. The Safe Deposit Trust and Banking company has taken advantage of the 60 days notice.


Article from The Indianapolis Journal, August 11, 1893

Click image to open full size in new tab

Article Text

PANIC AT NASHVILLE. The American National and Two State Banks Temporarily Close Their Doors. NASHVILLE, Tenn., Aug. 10.-Yesterday at the close of banking hours there were six banks doing business in this city. Last night the City Savings Bank directors decided not to open this morning. having fol. lowed the suspension during the afternoon of the First National by this resolve. This morning at 7:30 the directors of the Safe Deposit Trust and Banking Company held a meeting and, being a State institution, decided to take advantage of the sixtydays' clause and posted a notice to that effect and temporarily suspended. No state. ment is ready for publication. but the secretary. W. H. Mitchell, says they hope to resume in a short time and have only suspended to prevent a sacrifice of the assets. This is essentially d trust concern. but also does a banking business. At 9 o'clook the American National Bank, one of the oldest and soundest banking institutions in the city, opened its doors in the presence of a large and expectant crowd. The room was soon filled and it was evident a run had begun. In threequarters of an hour large checks amounting to 895,000 had been presented and paid,


Article from The Madison Daily Leader, August 11, 1893

Click image to open full size in new tab

Article Text

Financial Troubles at Nashville, NASHVILLE, Tenn., Aag. 11.-The merican National bank has suspended ayment. The Safe Deposit, Trust and Banking company has taken advantage the 60 day notice.


Article from The Seattle Post-Intelligencer, August 11, 1893

Click image to open full size in new tab

Article Text

CONDENSED DISPATCHES. Lathrop's bank, at LeRoy, N. Y., has suspended. Mrs. Langtry has again cancelled her engagement in this country. Hon. Patrick Egan, ex-minister to Chile, arrived in New York yesterday. The O'Brien Wagom Works, of Lafayette, Ind., have failed. Liabilities, $100,000. Gen. Miles has received orders to clear and keep clear the Cherokee strip of squatters. President Cleveland was hung in effigy at Golden, Cola, Wednesday night, by silver onthusinets. The Caldwell county of bank, of Kingston, Mo., has suspended. The assets are.in excess of the liabilities. The water in the Arkensas river rose eight feet in an hour at Pueblo, Col., Tuesday night. A great deal of damage was done to bridges and railroads. Johnston, Buck & Co., of Ellensburg, Pa. with banksat Ellensburg, Carroliton and Hastings, have suspended. The assets are in excess of liabilities. The American National Bank of Nashville has failed. The Safe Deposit Trust and Banking Company has taken advantage of the sixtydays' notice clause. Tommy Hill, Henry Smalley and Gus Sanders were killed, and Joe Bright and Joe Wallman badly scalded by a boiler explosion at Marshall, Tex., on Wednesday. The Terre Haute car works at Terre Haute, Ind., covering several acres, were burned Thursday night. A statement of loss is not obtainable; insurance, $150,000. A crowd of 200 men at St. Joseph, Mo., are scouring the country looking for a tramp who attempted to outrage a Mrs. Mann and, failing in his attempt, brutally beat her. The Clingman injunction suit was before Judge Coggin, of Chicago, yesterday on a motion to dissolve made by the World's fair managers. The hearing is set for Friday. Miss Mary A. Black, while temporarily insane in Chicago, shot herself through the heart Monday night. She was visiting the fair with her brother-in-law, Capt. Black, of the United States army. Gov. Osborn. of Wyoming, has decided not to appoint at present anyone to succeed Senator Beckwith, resigned. He will wait and see if the senate will seat appointees; If it won't he will call a special meeting of the legislature. Fire on Thursday destroyed the large salt warehouse of L J. Pettit in the Menominee valley, near Milwaukee, also the works of the Northwestern Sleigh Company and the lumber yards and mill of H. J. Hilty, of Milwaukee; loss, $100,000. The stockholders of the wrecked Paci fie bank, San Francisco, have removed R. H. McDonald, jr., from his position as vice president. During the absence of his father, Dr. McDonald, the management of the bank was in charge of the vice president. Mrs. Edward Gorman, of New York, was burned to death Wednesday night. she was leaning over a folding bed and had a lamp in her hand when the bed closed up, making her a prisoner. The lamp set fire to the bedding. She left a husband and five children. After waiting five years for the repeal of the English law prohibiting marriage with a deceased wife's sister, Commander Gibbons, of the Royal Navai artillery and stationed at Kingston, Ontario, crossed to the United States and was married to his sister-in-law, Miss Helen M. Wharding, yesterday. Secretary Gresham needs $100,000 to pay the expenses of his office. A good part of this deficit is due to the expense incurred in the entertainment of foreign visitors, notably the Duke of Veragua. While the duke was in Chicago and being Inxuriently provided for, he wrote to the president expressing his regret that he would be delayed in reaching Washington City to pay respects to the chief executive. In reply he was informed that the president would release him from any obligation he might feel in that direction. He was further advised that asrangements had been made for his return to Spain. He finally took the hint. and the state department felt great relief when he was gone. He cost the state department $40,000, and private persons as much more.


Article from Richmond Dispatch, August 11, 1893

Click image to open full size in new tab

Article Text

Telegraphic Key-Taps. The Caldwell County Bank, at Kingston, Mo., and the Exchange Bank, of Polo, Mo., closed their doors Wednesday morning. The American National Bank. Nashville, Tenn., has suspended payment. The Safety Deposit Trust and Banking Company. Nashville, has taken advantage of the sฤฑxty-day-noticerule. The O'Brien Wagon-Works Company. Lafayette, Ind.. vesterday went into the hands of a receiver. Liabilities, $100,000. assets. it is claimed. much more than enough to pay out if they can be realized on.


Article from The Roanoke Times, August 13, 1893

Click image to open full size in new tab

Article Text

Lewisburg Bank Closes Its Doors. Nashville. TENN., Aug. 12.-The People's Bank at Lewisburg failed to open its doors this morning. The suspension is due to the suspension of the First National and American National Banks of Nashville, a constant drain by depositors and failure to collect money. The president and cashier state that the bank is in first class condition and they are confident that it will be able to ro sume in a few days.


Article from The Indianapolis Journal, August 13, 1893

Click image to open full size in new tab

Article Text

Tennessee Bank Troubles. NASHVILLE, Aug. 12-The run on the Fourth National Bank was resumed this morning when that institution opened its doors, but by noon it was practically over, as there were less than a dozen men standing at the paying teller's desk. The deposits by substantial business men were quite as large as the amount drawn out by others. The People's Bank at Lewisburg failed to open its doors this morning. The suspension is due to the suspension of the First National and American National banks of Nashville.


Article from The Atlanta Constitution, August 15, 1893

Click image to open full size in new tab

Article Text

Another One Closes. Nashville, Tenn., August 10.-The suspension of the First National bank last evening was followed today by the suspension of payment by the American National bank, one of the largest and strongest in the city. The bank has a capital stock of $1,000,000 and a surplus of $116,000. The run on the American National bank was stopped at 9:30 o'clock by the announcement of the board that they had decided to suspend payment. The Fourth National bank continued to pay depositors as fast as checks were presented and at this hour, 10 o'clock, is still doing 60. The directors of the Safe Deposit, Trust and Banking Company met at an early hour and decided in view of the excitement prevailing to take advantage of the clause in their charter requiring depositors to give sixty days' notice of withdrawal of deposits. The board posted a notice stating that the depositors are absolutely safe for every dollar they have in the bank. There was no run on this bank and but few depositors presented checks for payment.


Article from The Russellville Democrat, August 17, 1893

Click image to open full size in new tab

Article Text

Bank Failure. NASHVILLE, TENN., August 12. The People's Bank, at Lewisburg, failed to open its doors this morning. The suspension is due to the suspension of the First National and American National banks, at Nashville, a constant drain by depositors and a failure to collect.


Article from The Austin Weekly Statesman, August 17, 1893

Click image to open full size in new tab

Article Text

NASHVILLE BANKS. Directors of the American Close Before the Bank is Crippled. NASHVILLE, Aug. 10.-The suspension of the First National bank last evening was followed today by the suspension of the American National bank, one of the largest and strongest in the city, with a capital of $1,000,000, and a surplus of $100,000. When the bank opened a run was made. Another began on the Fourth National, capital stock of $1,000,000, and surplus of $200,000. The run on the American was stopped by the announcement of the board that they had decided to suspend payment. The Fourth National continued to pay depositors as fast as checks were presented. The directors of the Safe Deposit, Trust and Banking company met early and decided in view of the excitement to take advantage of the clause in its


Article from Perrysburg Journal, August 19, 1893

Click image to open full size in new tab

Article Text

DOMESTIC. THE business portion of South Wayne, Wis., was destroyed by fire. THE sealing schooner Helen Blum, of San Francisco, was reported lost with her crew of twenty-five men. THE August report of the statistician of the department of agriculture at Washington shows that crops throughout the country have suffered severely from the drought. LEE BUTLER, cashier of C. M. Wright & Co.'s bank vat Altamont, Ill., absconded with $41,000, the entire assets of the bank. DAN LEWIS, Jim Taylor and Jack Chambers, all colored, charged with an assault on Mrs. George Warren at Hoboken, Ga., last spring, were caught and lynched within 3 miles of Way Cross. Ga. TROUBLE at Coal Creek, Tenn., has broken out afresh. A soldier named William Laugherty was murdered by miners and his death was avenged by lynching Dick Drummond. AT Chester, Pa., the largest steamboat in the world was launched. She will ply in the Fall River line. FIRE among warehouses and factories in Milwaukee caused a loss of $150,000. THE Broadmoore Land & Investment company of Colorado Springs, Col., went into the hands of a receiver with liabilities of $260,000. PRESIDENT CLEVELAND was hanged in effigy at Golden, Col., by free silver enthusiasts. CHARLES J. EDDY, aged 53, one of the oldest railroad men in the west and until six months ago second vice president of the Reading system, committed suicide in Washington park, Chicago, by shooting himself. No cause was known. DURING the first seven months of the present fiscal year the losses by fire in the United States reached $98,101,300, against $76,967,250 in 1892 and $79,247,370 in 1891. VINCENZO CAGLIOSTRO. aged 23 years, died at Swinburne Island hospital in New York of Asiatic cholera. THE fo llowing bank failures were re ported: The American national at Nashville, Tenn., the Hamilton county state bank at Webster City, Ia., the Caldwell county exchange bank at Kingston, Mo., the Exchange bank at Polo, Mo., and Johnston, Buck & Co. of Ebensburg, Pa., conducting banks at Ebensburg, Carrolltown and Hastings. THE New York. Lake Erie & Western Railroad company suspended its unmarried employes on the Honeydale (Pa.) division. ToM RICKETTS and Robert Miller, residents of Parnell, Mo., were run over and killed by a Chicago & Great Western train. ARRIVING from England in search of her husband, Mrs. Edward Douglass found him a convict at the Joliet (111.) prison. WONG DEP KEN is the first Chinaman to be deported under the Geary law. He was shipped from San Francisco. AT the leading clearing houses in the United States the exchanges during the week ended on the 11th aggregated $799,905,224. against $978,880,758 the previous week. The decrease as compared with the corresponding week of 1892 was 20.2. HAIL ruined the tobacco crop in five counties in Kentucky. THERE were 394 business failures re. ported in the United States during the seven days ended on the 11th. In the week preceding there were 436, and during the corresponding time in 1892 the number was 160. THE National bank at Waxahachie, Tex., and Beatty's bank at Mansfield, Ill., closed their doors. FOREWARNED of a visit marshals laid in wait at Lehigh, I. T., for Jim Percy and Clem Jones, bandits, and killed them. IT was discovered that Henry Brown (colored), who was hanged for the mur der of a peddler in East St. Louis, Ill. in December, 1880, while an accessory was not the principal, the murderer being J. C. Jackson, another negro, who was acquitted of the charge. THIRTEEN of the Meachim gang were killed in a battle with citizens of Clark county, Ala. The affair is the outgrowth of a feud of some years' standing. BOSTON assessors estimate the population of the "Hub" at 580,000. The last census shows a population of 446,570. UNITED STATES MARSHAL WHITEMASTER was murdered in the Cherokee strip by Laura Maundas, a female horse thief. WILL MCCARTY dead and Bob Sparks and John Ritter mortally wounded is the result of a drunken row at Shelbyville, Ky. SEVEN cases of cholera have developed among the passengers on the Karamemania, recently arrived at New York


Article from The Meeker Herald, August 19, 1893

Click image to open full size in new tab

Article Text

Telegraphic Brevities. Cholera is rapidly spreading in Austria. There were over 700 deaths from cholera in Russia last week. ,The fire losses in this country and Canada during July amounted to $12,118,700. The American National Bank of Nashville failed on the 10th as the result of a run. Yellow fever has suddenly appeared In Pensacola, Florida. Two cases are reported. A big implement warehouse at Kansas City was burned on the 9th at a loss of $135,000. The Sedalia, Missouri, bank failed on the 10th. It had been running for twenty-five years. Colonists who have just returned from Topolobampo bay declare that the colony scheme is a huge swindle. The first important failure reported from Mexico in several years is reported. Luis Gamez fails for $90,000. The money market in New York is slightly casier. but currency throughout the East is reported to be very scarce. The Khedive of Egypt is again quarreling with his ministry but England will probably not him discharge them. Three Italian war ships have arrived at New York. They are manned by naval cadets who will visit the Exposition. Money has almost disappeared In the East and business is being done on certified checks and clearing house certificates. There are now fifteen cholera patients detained at quarantine in New York. The cases are not serious as the attacks are mild ones.


Article from Grant County Herald, August 24, 1893

Click image to open full size in new tab

Article Text

OUT OF CASH. Many Banks in Various Localities Forced to Close Their Doors. WASHINGTON, Aug. 11.-The following bank failures were reported yesterday: The American national at Nashville, Tenn., the Hamilton county state bank at Webster City, la., the Caldwell county exchange bank at Kingston, Mo., the Exchange bank at Polo, Mo., and Johnston, Buck & Co., of Ebensburg, Pa., conducting banks at Ebensburg, Carrollton and Hastings. WASHINGTON, Aug. 12.-Only two banks suspended yesterday, viz.: The National bank at Waxahachie, Tex., and Beatty's bank at Mansfield, III. WASHINGTON, Aug. 13.-The bank failures reported yesterday were: The Prairie City bank at Terre Haute, Ind., and Josiah Morris & Co., the leading private banking. house in Alabama, at Montgomery with liabilities of $1,100,000 and assets of $2.000,000, the People's at Lewisburg, Tenn., the Bank of Plaquemine, La., and the Firstnational at Gadsden, Ala. WASHINGTON, Aug. 15.-The comptroller received notice yesterday of the following failures: Citizens' national at Attica, Ind., Bank of Springfield at Springfield, Mo., and the People's, Citizens' and Commercial banks at Pulaski, Tenn.


Article from The Morning News, September 2, 1893

Click image to open full size in new tab

Article Text

Three Banks to Reopen. Washington, Sept. 1.-The following national banks which recently suspended payment have to-day been permitted to reopen their doors for business: American National of Nashville, Tenn., First National Bank of Grundy Center, Ia., and First National Bank of Harrisonville, Mo.


Article from The Sun, September 2, 1893

Click image to open full size in new tab

Article Text

Banks Resuming Business. WASHINGTON, Sept. 1.-The following national banks. which recently suspended payment. have to-day been permitted to reopen their doors for business: The American National Bank of Nashville. Tenn.: the First National Bank of Grundy Centre, Iowa, and the First National Bank of Harrisonville. Mo.


Article from The Star, September 6, 1893

Click image to open full size in new tab

Article Text

FINANCIAL AND COMMERCIAL. The following national banks, which ... cently suspended payment, have been pe mitted to resume business: American of Nashville; First, of Grundy Center, Ia.; and the First, of Harrisonville, Mo.


Article from Reporter and Farmer, September 7, 1893

Click image to open full size in new tab

Article Text

MAY RESUME. Washington, Sept. 2.-The following national banks, which recently suspended payment, have to-day been permitted to reopen their doors for business: The American National Bank of Nashville, Tenn.; the First National Bank of Grundy Center, Iowa, and the First Na. tional Bank of Harrisonville. Mo.


Article from The Middleburgh Post, September 7, 1893

Click image to open full size in new tab

Article Text

FINANCIAL AND COMMERCIAL. The following national banks, which recently suspended payment, have been permitted to resume business: American of Nashville; First, of Grundy Center, Ia ; and the First, of Harrisonville, Mo.


Article from The Princeton Union, September 7, 1893

Click image to open full size in new tab

Article Text

MAY RESUME. Washington, Sept. 2.-The following national banks, which recently suspended payment, have to-day been permitted to reopen their doors for business: The American National Bank of Nashville, Tenn.; the First National Bank of Grundy Center, Iowa, and the First National Bank of Harrisonville. Mo.


Article from Courier Democrat, September 7, 1893

Click image to open full size in new tab

Article Text

MAY RESUME. Washington, Sept. 2.-The following national banks, which recently suspended payment, have to-day been permitted to reopen their doors for business: The American National Bank of Nashville, Tenn.: the First National Bank of Grundy Center. Iown, and the First National Bank of Harrisonville. Mo.


Article from The Comet, September 14, 1893

Click image to open full size in new tab

Article Text

Nashville Banks Open Again. The American National bank reopened its doors after being closed nearly four weeks. Only $7,000 was withdrawn, while the deposits amounted to $360,000. The First National has also resumed, and has promises of support. Both of these banks were absolutely sound, but closed b cause of a threatened run.