Bank of Cookeville (Cookeville, TN)

Episode Information

Episode UID
308369091321
Episode Type
Suspension โ†’ Closure
Bank Type
state
Bank ID
30836909 hash
Start Date
January 10, 1910
Location
Cookeville, Tennessee (36.163, -85.502)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
cb8e2fc8c74dd7c8

Response Measures

None

Description

Articles state the bank failed to open due to over-loans and was later placed in receivership for voluntary liquidation.

Events (3)

1. January 10, 1910 Other
Newspaper Excerpt
the People's Bank ... also remained closed, fearing a run by the depositors. The People's Bank, it is said, is owned by the Bank of Cookeville.
Source
newspapers
2. January 10, 1910 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank failed to open due to embarrassment from excessive loans/over-loans (insolvency concerns).
Newspaper Excerpt
The Bank of Cookeville and the People's Bank, both State institutions, failed to open their doors for business this morning. The former, it is stated, was embarrassed by over-loans
Source
newspapers
3. January 27, 1910 Receivership
Newspaper Excerpt
Chancellor Lunsden has appointed Jere Whitson receiver for the Bank of Cookeville, Tenn., which recently closed its doors and which will go into voluntary liquidation.
Source
newspapers

Newspaper Articles (7)

Article from The Columbia Herald, January 14, 1910

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Article Text

TWO COOKEVILLE BANKS CLOSED UP OVER LOANS SAID TO HAVE CAUSED TROUBLE-HOPE TO RESUME. COOKEVILLE, Tenn., Jan. 10.-The Bank of Cookeville and the People's Bank, both State institutions, failed to open their doors for business this morning. The former, it is stated, was embarrassed by over-loans and the latter, on learning that the Bank of Cookeville failed to open, also remained closed, fearing a run by the depositors. Representatives from two Nashville banks were in conference with the directors of the Bank of Cookeville today with the hope of reaching some agreement by which the bank can be re-opened within the next few days. The conference was in session at midnight without any definite plans formulated. It is hardly probable that the People's Bank will open its doors this morning. The People's Bank, it Is said, is owned by the Bank of Cookeville. The capital stock of the latter is $30,000, while that of the People's Bank is only $10,000. When the doors of the Bank of Cookeville were closed today it is said that the cash on hand was approximately $11,000 and the deposits amounted to between $300,000 and $400,000. The loans amount to $328,032. It is thought, however, that if all of the notes can be collected the assets will exceed the liabilities by at least $50,000. That was a statement given out by a member present at the conference last night. It was stated last night by a member of the conference at Cookeville that a movement was on foot by which it is thought the banks will be reopened on a sound basis within a short time, in face within the next day or so.


Article from The Birmingham Age-Herald, January 28, 1910

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Article Text

Bank Receiver Appointed. Nashville, January 27.-Chancellor Lunsden has appointed Jere Whitson receiver for the Bank of Cookeville, Tenn., which recently closed its doors and which will go into voluntary liquidation.


Article from The Pensacola Journal, January 28, 1910

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Article Text

RECEIVER FOR A BANK. Nashville, Tenn., Jan. 27.-Chancellor Lundsden has appointed Jere Whitson receiver for the Bank of Cookeville, Tenn., which recently closed its doors and which will go into voluntary liquidation.


Article from Atlanta Semi-Weekly Journal, February 1, 1910

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Article Text

General News Notes FLORENCE, S. C., Jan. 29.-In a quarrel over the price of a cake sold at auction at a school festival near here last night, Lofton Poston was fatally stabbed by Mossa Bazen and died five minutes later. Both young men were well known throughout the county. CHARLOTTE. N. C.-It seems that the matter of building a railroad from Wilbesboro to Statesville, in order to give the former city connection with Charlotte. which was agitated last spring but did not materialize is to be brought to the front again. CORDELE. Ga.-The increased demand for both residence and busines houses in Cordele has resulted in an increased activity of property owners in erecting buildings and improving vacant lots throughout the city. The demand for houses of all kinds is greatly in excess of the supply and consequently new buildings are being pushed to completion all over the city, including a number of costly business houses. CLEMSON COLLEGE, S. C.-The anual celebration of the Columbian Literary society has been postponed from January 19 until February 12, in order to give the contestants more time for preparation. The exercises will consist of two declamations. two orations, and a debate, and the respective winners will be presented each with a handsome gold medal. CORDELE, Ga.-At a directors' meeting of the American National Bank of Cordele held yesterday the following officers were elected for the year 1910: L. O. Benton, president: R. L. Wilson, vice president; J. W. Cannon, cashier. and E. A. Vinson, assistant cashier. This bank was organized in the latter part of 1908 with a capital stock of $100,000 and on yes terday the directors declared a semi-anual dividend of 4 per cent. ALEXANDRIA, La.-Roy E. Delcore is being held here for alleged robbery of the postoffice at Sullivan, Mo. Officers at Sullivan were notified last night of Delcore's arrest. MACON, Ga.-Mayor Moore returned to his office yesterday, after a hunting trip into Baker county. He was accompanied by W. W. WilIfams. Will Gunn, Jack Massee and several other Macon men. The bunt was a success from every standpoint. SAVANNAH, Ga.-The quarterly meeting of the University club. of Savannab, was held last night at the DeSoto hotel. The club is in a very prosperous condition and it is expected it will lend a hand toward getting the collection of birds now in possession of the Natural History society, of Savannah, which it is hoped to 'secure for the state university. non TRENTON, N. J., Jan. 29.-The National Co-Operative Shirtwaist and Neckwear company, with an authorized capital of $100,000, was incorporated here today. Par value of shares $1 each. It is said the company was formed to aid the shirtwaist strikers in New York and Philadelphia and that it will have the support of some wealthy women of New York. SAVANNAH, Ga.-The United States vessel which came to Savannah several weeks ago for the purpose of planting mines in the Savannah harbor is steadily at work and the task will be completed in a short time. The mines being put down are harmless, but they can be made dangerous in pretty short order if Uncle Sam should find it necessary to protect this harbor from invasion in that manner. NASHVILLE. Tenn.-Chancellor Lundsden has appointed Jere Whitson receiver for the Bank of Cookeville, Tenn., which recently closed its doors and which will go into voluntary liquidation. JACKSON. Miss.-It is announced here today that at a meeting of the board of directors of the First National Bank of this city which will be held late today. Attorney General J. B. Striling will be elected president to succeed Dr. S. S. Carter. The resignation of Mr. Stirling as attorney general will be sent to the governor tomorrow. SHREVEPORT. La. Owners of one of the largest producing oil wells in the field surrounding Shreveport were nonplussed at the sudden cessation of the well's flow a few days ago. Last night the flow again started, with an estimated capacity of 3,000 barrels daily. VICKSBURG. Miss.-The dedication of the Wisconsin monument in the national park here will take place May 22 according to anonuncement made by the park commission today. Governor Davidson and a large party of prominent citizens from Wisconsin will attend the ceremonies. NEW ORLEANS.-H. H. McGill. an aviator of Dayton. Ohio, will attempt the first air ship flights to be held in New Orleans next Saturday. He will use a bi-plane. Negotiations are now in progress for flights by aviators of International prominence at New Orleans during the Mardi Gras season. JACKSON, Ga.-The first political anouncement to be made in Butts county this year is that of Judge J. A. McMichael for tax collector. For a number of years he has been tax receiver and collector for the city of Jackson. Several other announcements are expected to be made soon. The race for representative and perhaps sheriff, promises to be exciting. A number of probable candidates have been spoken of for these offices.


Article from Atlanta Semi-Weekly Journal, February 1, 1910

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Article Text

NASHVILLE, Tenn.-Chancellor Lundsden has appointed Jere Whitson receiver for the Bank of Cookeville, Tenn., which recently closed its doors and which will go into voluntary liquidation.


Article from Putnam County Herald, April 2, 1914

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Article Text

after the Bank of Cookeville voluntarily, but unneccessarily, went into the hands of a receiver in 1910; and therefore, The Cookeville Bank is not a successor to the Bank of Cookeville-its officers and stockholders being made


Article from Putnam County Herald, April 2, 1914

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Article Text

up of an entirely new and separate organization. However, the outcome of the receivership of the Bank of Cookeville was that, under official instruction from Chancellor A. H. Roberts, The Cookeville Bank gave a personal bond of $100,000 and took over the assets of the Bank of Cookeville under obligations to return all depositors of the Bank of Cookeville their money. These obligations were made payable in six, twelve and eighteen months time, with four per cent. interest. The management of The Cookeville Bank promptly met all payments as they periodically became due-including interest. Therefore, this $100,000 bond is not now in effect, as all the depositors of the Bank of Cookeville have been paid in full. This was not only a difficult and wonderful undertaking, but an extraordinar'ly patriotic one on the part of the officers and stockholders of The Cookeville Bank, and not only proved highly beneficial to the depositors of the Bank of Cookeville, but to the community at large. It furthermore proves that the men in charge of The Cookeville Bank are business men and financiers of the highest order, and their unselfish duties well performed in time of need sets a high example of commercial integrity for the present and future generations. The home of The Cookeville Bank is located on the east side of court square in a substantial two story brick structure, where it has ample quarters for all conveniences-the appointments, fixtures and equipments being first class. The vault is fire and burglar proof, with air space in wall construction. In the vault is one of the latest make of Victor screw-door safes, time lock and made of manganese steel-which brand took the premium at Chicago World's Fair as being the nearest burglar proof in the world. The following gentlemen form the Board of Directors: W B. Smith, T. L. Johnson, A. A. Staley, T. J. Gregory, C. H. Rickman, Judge D. L. Lansden, W. Bryant, E. E. Dorman and Thos. Finley. These gentlemen are all well known for their financial responsibilities and high moral standing, but in addition to their individual responsibilities and the stockholder of The Cookeville Bank , the management have in full force and effect outstanding a personal bo of $150,000 as a guarantee of safety ) all its deposit-