Mcelwain Meguiar Bank & Trust Company (Franklin, KY)

Episode Information

Episode UID
3286490591571
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
328649059 hash
Start Date
November 18, 1930
Location
Franklin, Kentucky (36.719, -86.564)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
223cb1d0b8ae7c7c

Response Measures

None

Description

Contemporary articles report a precautionary suspension tied to its correspondent; no follow-up on reopening in these items.

Events (1)
1. November 18, 1930 Suspension
Cause
Correspondent
Cause Details
Closed as a precaution after its correspondent, the National Bank of Kentucky in Louisville, suspended operations.
Newspaper Excerpt
Two banks outside Louisville also closed when it was learned the National Bank of Kentucky had suspended. They were the McElwain Meguiar Bank and Trust Company at Franklin, Ky.
Source
newspapers

Newspaper Articles (10)
1. November 18, 1930 The Tribune Seymour, IN
Article from The Tribune, November 18, 1930

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Article Text

EIGHT KENTUCKY BANKS CLOSED (Continued from page 1) Bank. suspended operations. Their directors said they were solvent and that they were closed as a precautionary measure The three institutions are affiliated through the Banco-Kentucky, a holding company. Two small negro banks in Louisv the American Mutual Savings Bank and the First Standard Bank. which cleared through the Louisville Trust Company, later closed. The Bank of St. Helens, a Louisville suburb, also suspended as a precautionary measure. Two banks outside Louisville also closed when it was learned the National Bank of Kentucky had suspended. They were the McElwain Meguiar Bank and Trust Company at Franklin, Kv., and the First National Bank at Horse Cave, Kv. The National Bank of Kentucky served as correspondent for both. Officers of other leading Louisville banks issued statements last night declaring yesterday's deposits were greater than withdrawals, reported new accounts were opened during the day, and reiterated earlier statements that the institutions were solvent Platter's Special! Until November 23rd we include one 7x10 enlarged portrait with every order for a dozen photographs. n22d St. Louis.-Abraham Wolff came from Russia 45 years ago and became a junkman. He has left an estate of $1,000,000. In recent years he made money in oil. New York.-Back from the Lake Chad region of Africa. W. C. Seabrook, author, says cannibals there were nicer to him than New Yorkers he has met on the street.

2. November 18, 1930 Brownsville Herald Brownsville, TX
Article from Brownsville Herald, November 18, 1930

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Article Text

BANKS CLOSING AS PRECAUTION Many Kentucky Houses With Closed Doors Solvent, Officials Declare LOUISVILLE, Ky., Nov. 18.-(P) -Eight Kentucky financial institutions with resources totalling more than $75,000,000 were closed today. The largest of these was the National Bank of Kentucky at Louisville, which was under control of a receiver, Paul C. Keyes, of the staff of the comptroller of the currency at Washington. Its resources approximate $60,000,000. Directors of the National Bank of Kentucky said the suspension yesterday was deemed necessary because of "wild rumors" concerning its condition. Simultaneously with its closing, two affliated institutions, the Louisville Trust company and the Security Bank, suspended operations. Their directors said they were solvent and that they were closed as a precautionary measure. The three institutions are affiliated through the BancoKentucky, a holding company. Two small negro banks n Louisville, the American Mutual Savings bank and the First Standard bank, which cleared through the Louisville Trust company, later closed. The Bank of St. Helens, a Louisville suburb, also suspended as a precautionary measure. Two banks outside Louisville also closed when it was learned the National Bank of Kentucky had suspended. They were the McElwain Meguiar Bank and Trust company at Franklin, Ky., and the First National bank at Horse Cave. Ky. The National Bank of tucky served as correspondent for both. Officers of other leading Louisville banks issued statements last night declaring yesterday's deposits were greater than withdrawals, renorted new accounts were opened during the day, and reiterated earlier statements that the institutions were solvent.

3. November 18, 1930 Brownsville Herald Brownsville, TX
Article from Brownsville Herald, November 18, 1930

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Article Text

BANKS CLOSING AS PRECAUTION Many Kentucky Houses With Closed Doors Solvent, Officials Declare LOUISVILLE, Ky., Nov. 18.-(P) -Eight Kentucky financial institutions with resources totalling more than $75,000,000 were closed today. The largest of these was the National Bank of Kentucky at Louisville, which was under control of a receiver, Paul C. Keyes, of the staff of the comptroller of the currency at Washington. Its resources approximate $60,000,000. Directors of the National Bank of Kentucky said the suspension yesterday was deemed necessary because of "wild rumors" concerning its condition. Simultaneously with its closing, two affliated institutions, the Louisville Trust company and the Security Bank, suspended operations. Their directors said they were solvent and that they were closed as a precautionary measure. The three institutions are affiliated through the BancoKentucky, a holding company. Two small negro banks in Louisville, the American Mutual Savings bank and the First Standard bank, which cleared through the Louisville Trust company, later closed. The Bank of St. Helens, a Louisville suburb, also suspended as a precautionary moasure. Two banks outside Louisville also closed when it was learned the National Bank of Kentucky had suspended. They were the McElwain Meguiar Bank and Trust company at Franklin, Ky., and the First National bank at Horse Cave. Ky. The National Bank of Kertucky served as correspondent for both. Officers of other leading Louisville banks issued statements last night declaring yesterday's deposits were greater than withdrawals. reported new accounts were opened during the day, and reiterated earlier statements that the institutions were solvent.

4. November 18, 1930 The Washington Times Washington, DC
Article from The Washington Times, November 18, 1930

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Article Text

Eight Banks in Kentucky Suspend All Business LOUISVILLE, Nov. 18 (I.N.S.). Business was suspended today at eight Kentucky banks having resources of approximately $70,000,000. Among them was the National Bank of Kentucky, a 96-year-old institution, for which a receiver was named bv the Federal controllers' department. The Louisville Trust Company and the Security Bank closed their doors, as a precautionary measure, according to the directors. Both institutions are solvent, directors said. Other institutions to suspend business were the American Mutual Savings Bank and the First Standard Bank, both clearing through the Louisville Trust Company; the Bank of St. Helens, Louisville suburb; the McElwainMeguiar Bank and Trust Company, of Franklin, Ky., and the First National Bank at Horse Cave.

5. November 18, 1930 Chippewa Herald-Telegram Chippewa Falls, WI
Article from Chippewa Herald-Telegram, November 18, 1930

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Article Text

EIGHT KENTUCKY BANKS CLOSED Largest of All National Bank at Louisville With Sixty Million Resources. Louisville, Ky. Kentucky financial institutions with totalling more than $75,000,000 were closed today. The largest of these was the National Bank of Kentucky at Louisville, which was under control of Paul Keves, of the staff of the comptroller the currency Washington. Its resources of approximate Directors of the National Bank of Kentucky said the suspension yesterday was deemed necessary because of concerning its condition. with its closing, two affiliated instiutions, the LouisTrust company and the Security Bank, suspended operations. Two small negro banks in Louisville, the American Mutual Savings bank and the First Standard bank, which cleared through the Louisville Trust company, later closed. The Bank of St. Helens, Louisville suburb, also suspended as a precautionTwo banks outside Louisville closed when was learned the National Bank of suspendThey were the McElwain Meguiar Bank and Trust Company Franklin, and the First National Bank Horse Cave, Ky. The National Bank of Kentucky served correspondent for both.

6. November 18, 1930 The Daily Sentinel Grand Junction, CO
Article from The Daily Sentinel, November 18, 1930

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Article Text

MORE BANKS CLOSED IN LOUISVILLE (Associated Press Leased Wire.) Closing of the National Bank of Kentucky here yesterday was followed by five smaller banks closing up as precautionary measure, four here and one in Franklin. Ky., meanwhile presidents of the other banks in the city issued statements asserting their institutions were solvent in every respeet and would not be affected. The National Bank of Kentucky of which James B. Brown is president, was placed in the hands of Paul Keyes of the federal comptroller general's office as receiver. It's announced resources were $54 000 000, The other Louisville banks closed were the Security bank which It was stated was closed purely as precaution: the LouIsville Trust company which is affiliated with the National Bank of Kentucky and two comparatively small negro banks, the American Mutual Savings bank and the First Standard bank The latter are not members of the local clearing house associaation but did their clearing through the Louisville Trust company The McElwain Meguiar bank and trust company of Franklin, was the fifth to close. Its announcement said it had to shut down because the National Bank of Kentucky one of its correspondents and that its depositors would be paid in full In Louisville slightly more than normal numbers of patrons gathered at the other banks but nothing approaching "run" was noted bank officials issued optimistic statements that the public would not become excited.

7. November 18, 1930 Fort Collins Coloradoan Fort Collins, CO
Article from Fort Collins Coloradoan, November 18, 1930

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Article Text

Eight Kentucky Financial Houses Are Closed Today Louisville, Ky.—(AP)—Eight Kentucky financial institutions with resources totalling more than $75,000,000 were closed today. The largest of these was the National Bank of Kentucky at Louisville, which was under the control of a receiver, Paul C. Keyes, of the staff of the comptroller of the currency at Washington. Its resources approximate $60,000,000. Directors of the National Bank of Kentucky said the suspension yesterday was deemed necessary because of "wild rumors" concerning its condition. Simultaneously with its closing, two affiliated institutions, the Louisville Trust company and the Security bank, suspended operations. Their directors said they were solvent and that they were closed as a precautionary measure. The three institutions are affiliated thru the Banco-Kentucky, a holding company. Two small Negro banks in Louisville, the American Mutual Savings bank and the First National bank, which cleared thru the Louisville Trust company, later closed. The Bank of St. Helens, a Louisville suburb, also suspended as a precautionary measure. Two banks outside Louisville also closed when it was learned the National bank of Kentucky had suspended. They were the McElwain Meguiar Bank and Trust company at Franklin, Ky., and the First National bank at Horse Cave, Ky. The National Bank of Kentucky served as correspondent for both. Officers of other leading Louisville banks issued statements last night declaring yesterday's deposits were greater than withdrawals, reported new accounts were opened during the day, and reiterated earlier statements that the institutions were solvent.

8. November 18, 1930 Kingsport Times Kingsport, TN
Article from Kingsport Times, November 18, 1930

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Article Text

KENTUCKY BUSINESS 18. Kentucky financial with resources totalinstitutions than $75,000,000 ing more The largest of closed today. the National Bank of these at Louisville, which Kentucky under the control of Paul Keyes, of the ceiver, staff of the comptroller of the currency at Washington. Its sources approximate Directors of the National Bank of Kentucky said the suspension yesterday was deemed necessary because of "wild rumors' its condition. Simulcerning taneously with its closing, two affiliated institutions, the LouisTrust Company and the Security Bank, suspended operations Their directors said they were solvent and that they were closed precautionary measure. three instituions are affiliated through the Bank of Kentucky, holding company. Two small negro banks Louisville, American Mutual Bank and the First Savings Standard Bank, which cleared through the Louisville Trust Company, later closed. The Bank of Helens, Louisville suburb, also suspended as a precautionary measure. Two banks outside Louisville closed when it was the National Bank of Kentucky had suspended. They were the McElwain Meguiar Bank and Trust Company at Franklin, and the First National Bank at Horse Cave, Ky. The National Pank of Kentucky served as respondent for both. Officers of other leading Louisville banks issued statements night declaring yesterday's posits were greater than withdrawals. Reported new accounts opened during the day, and reiterated earlier statements that the institutions were solvent.

9. November 18, 1930 The Times-Mail Bedford, IN
Article from The Times-Mail, November 18, 1930

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Article Text

EIGHT BANKS IN KENTUCKY CLOSE Remaining Louisville Banks Issue Statements To Gain Confidence of Public Kentucky financial institutions with resources total. than closed today. The of these the National Bonk Kentucky at Louisville, which was the control Keyes, of the staff of the troller the currency at WashingIts resources approximate Directors of the National Bank Kentucky said the suspension yesterday was deemed necessary because rumors" concerning its condition. Simultaneously closing, two affiliated stitutions, Louisville Trust Company and the Security suspended operations. Their rectors solvent and that they were closed cautionary measure. The stitutions are affiliated through holding pany. Two small negro banks in LouisThe Mutual SavBank and The First Standard Bank, through the later closed. The Bank of St. Helens, suburb, also suspanded precautionary Two banks outside of Louisville also closed when was learned the National Bank Kentucky had suspended. They were the McElwain Meguiar Bank and Trust Company Franklin, and the First National Bank Horse Cave, Ky. The National Bank of Kentucky served as correspondent for both. Officers of other leading Louisbanks issued last night declaring deposits greater than reported were opened during the day, and earlthat the institutions were solvent.

10. November 18, 1930 The Daily World Helena, AR
Article from The Daily World, November 18, 1930

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Article Text

CRASH OF BANKS STILL IS HEARD IN OLD KAINTUCK EIGHT FINANCIAL INSTITUTIONS IN THAT STATE HAVE CLOSED THEIR DOORS Louisville, Ky., Nov. Eight Kentucky financial institutions with resources totalling more than $75,000,000 were closed today The largest of these was the National Bank of Kentucky at Louisville, which was under the control of a receiver, Paul C. Keyes, of the staf of the comptroller of the eurrency at Washington. Its resources approximate $60,000,000. Directors of the National Bank of Kentucky said the suspension was deemed necessary because of "wild rumors" concerning its condition. Simultaneously with its closing, two affiliated institutions. the Louisville Trust Company and the Security Bank, suspended operations. Their directors said they were solvent and they were closed as a precautionary measure. The three institutions are affiliated through the Banco-Kentucky. a holding company. Two small negro banks in Louisville later closed. The Bank of St. Helens, a Louisville suburb, also suspended as a precautionary measure. Two banks outside Louisville, the McElwain Meguiar Bank and Trust Company at Franklin, Ky., and the First National Bank at Horse Cave, Ky. The National Bank of Kentucky served as correspondent for both.