Bank of Commerce (Nashville, TN)

Episode Information

Episode UID
5906496491119
Episode Type
Run โ†’ Suspension โ†’ Unsure
Bank Type
state
Bank ID
590649649 hash
Start Date
March 27, 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
037dead74ea4b217

Response Measures

None

Description

Assignment to an assignee is reported; some accounts say the bank availed of the sixty-day law and 'probably will resume,' leaving final status unclear.

Events (3)

1. March 27, 1893 Receivership
Newspaper Excerpt
The Bank of Commerce made an assignment this morning, naming John T. Lellyett as assignee.
Source
newspapers
2. March 27, 1893 Run
Cause
Bank Specific Adverse Info
Cause Details
Failure of certain large debtors to meet obligations created insolvency risk and precipitated apprehension of a run.
Measures
Some reports say the bank availed itself of the sixty-day law; officers made an assignment naming an assignee.
Newspaper Excerpt
The Bank of Commerce has assigned in anticipation of a run.
Source
newspapers
3. March 27, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Assignment/suspension precipitated by anticipated run and by debtors' failures that left the bank unable to stand withdrawals.
Newspaper Excerpt
The Bank of Commerce made an assignment this morning, naming John T. Lellyett as assignee.
Source
newspapers

Newspaper Articles (22)

Article from Deseret Evening News, March 27, 1893

Click image to open full size in new tab

Article Text

A Bank Assigns. NASHVILLE, March 27.-The Bank of Commerce has assigned in anticipation of a run. The deposits amounted only to about $50,000. The failure of certain persons largely indebted to the bank to meet their obligations put the bank in a position not to be able to stand a run. The assets of the bank are about $100,000.


Article from The Evening Herald, March 28, 1893

Click image to open full size in new tab

Article Text

NASHVILLE IN A STATE OF PANIC. Two More Banking Firms Likely to be Driven to the Wall, NASHVILLE, Tenn., March 28-The Bank of Commorce made an assignment yesterday, naming John T. Lellyett as assignee. This action was precipitated by the general apprehension of a run on the bank which the officers believed would be made. The deposits were not large, aggregating only $50,000, $15,000 of which was small deposits, ranging from $5 upward in the savings department. J. N. Brooks, the cashier, said thesuspension wasdue mainly to the failure of certain parties who are largely indebted to the bank to meet their obligations. Mr. Brooks declined to state who the parties were. The city is in a state of panic and the streets are filled with hundreds of excited citizens. In addition to the failure of the Commercial National bank on Saturday, two more banks closed their doors yesterday. They are the Mechanics' Saving bank, with a capital of $500,000 and the Bank of Commerce, with a capital of $250,000. The great uneasiness prevails in financial circles and it is expected two other banks will be compelled to shut down. Over $8,000,000 are involved in the failure of the three banks mentioned above, and at least a dozen small banks in adjacent towns are in temporary financial straights.


Article from Fairhaven Herald, March 28, 1893

Click image to open full size in new tab

Article Text

Nashville Bank Assignment NASHVILLE, March 27-The Bank of Commerce has assigned, in anticipation of a run. The deposits amounted only to about $50,000. The failure of certain persons, largely indebted to the bank, to meet their obligations put the bank in a position not to be able to sta d a run. The assets of the bank are about $100,000.


Article from Pawtucket Tribune, March 28, 1893

Click image to open full size in new tab

Article Text

IN A STATE OF PANIC. Three Bank Failures at Nashville Expected to Be Followed by More. NASHVILLE, March 28.-This city is in a state of panic; in addition to the failure of the First Commercial bank on Saturday, the Mechanics' Savings bank, with a capital of $500, 000, and the Bank of Commerce, with a capital of $250,000, have closed their doors. The greatest uneasiness prevails in financial circles, and it is expected two other banks will be compelled to shut down. At least a dozen small banks in adjacent towns are in temporary financial straits.


Article from The State Chronicle, March 28, 1893

Click image to open full size in new tab

Article Text

THE BANK WENT UNDER. FAILUREOF THE RANK OF COM. MERCE, NASHVILLE. The Action Precipitated by Apprehension of a Run on the Bank by Depositors. NASHVILLE, March 27 - The Bank of Commerce made an assignment this morning, making Joha T. Lellyett the assiguee. This action wss precipitated by the general apprehension of a run on the bank which the officers believed would be made. The deposits were not large. aggregating only $50,000. $15,000 of whien was small deposits, ranging 'rom $5 upward in the savings depart ment. The president of the bank, J H Yarborough, is not in the city. Mr. J M. Brooks. the cashier, said the suspenion was due mainly to the failure of certain persons who are largely indebted to the bank to meet their obligations. Mr. Brooks declined to state who the parties were.


Article from The Daily Morning Astorian, March 28, 1893

Click image to open full size in new tab

Article Text

ASSIGNED IN ANTICIPATION. Nashville, March 27.-The bank of Commerce assigned in anticipation of a run. The deposits amounted to only about fifty thousand dollars. The failure of certain persons largely indebted to the bank to meet obligations, put the bank in a position not to be able to stand a run. The assets of the bank are about one hundred thousand dollars.


Article from The Providence News, March 28, 1893

Click image to open full size in new tab

Article Text

THREE BANKS GO UNDER. Citizens of Nashville Are Greatly Excited Over a. Financial Panic. NASHVILLE, March 28.-This city is in a state of panic and the streets are filled with hundreds of excited citizens. In addition to the failure of the First Commermercial National bank on Saturday, two more banks closed their doors yesterday. They are the Mechanics' Savings bank, with a capital of $500,000, and the Bank of Commerce, with a capital of $250,000. The greatest uneasiness prevails in financial circles, and it is expected two other banks will be compelled to shut down. Over $3,000,000 is involved in the failure of the three banks mentioned above, and at least a dozen small banks in adjacent towns are in temporary financial straits.


Article from The Wheeling Daily Intelligencer, March 28, 1893

Click image to open full size in new tab

Article Text

Bank Closed. NASHVILLE, TENN., March 27.-The Bank of Commerce made an assignment this morning naming John T. Lelliott as assignee. The action was precipitated by fears of a run on the bank. The deposits were not large, aggregating only about $50,000.


Article from Fort Worth Gazette, March 29, 1893

Click image to open full size in new tab

Article Text

ENEWS CONDENSED Little Rock, Ark., the Democratic central committee selected June 22 he date for holding the state convendetachment of Haytian revolutionists crossed from San Domingo and Ind Haytl. Maginat fears this unauthor Invasion may seriously interfere with plans. e Wisconsin legislature has adopted a orial to congress asking a submission amendment to the federal constituUnited In providing for the election of AS senators by a popular vote. O Italians, Antonio Lonzo and Louis Igno, maddened by drink and jealousy, at 8 duel with knives on the streets harpsburg last night. Both were so Y Injured neither will recover. Boston, Mass., the annual meeting of American Bell Telephone company was yesterday, The old directors and it's were re-elected and it was voted crease the capital stock to $20,000,strike of the Monongahela Valley is is practically ended, and before the the week It is probable all of the old men will be back at work. Fully strikers returned to the mines yesay. >AT Danville, Ky., Dick Crowder shot Instantly killed James Mender and ded John Harp so badly he died in NY hours. All the paties were mooners who had been conducting a still ing Gulch. Hawley, king of green goods swindand represented to be a nephew of d States Senator Hawley is under at Chicago. Postal inspectors think have evidence enough against Hawley the conviction sure. is announced that Vice-President of the Missouri, Kansas and Texas has tendered his resignation and has succeeded by F. B. Underwood, ml manager of the Minneapolis, St. and Sault Ste Main railway. Bank of Commerce of Nashville, made an assignment yesterday to T. Tellyitt, assignee. This action precipitated by the general appreon of a run on the bank, which the of the bank believed would be Deposits are not large, aggregatonly about $50,000. of which $15,000 small deposits, ranging from $5 upin the savings department. Charles Gudden and wife of LoMass., Ex-Governor James A. Wesand daughter of Manchester, N. H., y Gordon of Boston, and Mayor Franewett of Lowell, Mass., are at Gallooking into the condition of the wwestern Telephone and Telegraph Many with a view to its betterment. Budden is the treasurer of the comand the other gentlemen are direccount of Paris has sent a circular to the monarchistic committees stenout France. In it he says substan"the present movement Is most the chamber has lost credit Without the country: the government 7.00 courage to act against the Socialit is powerless at home and devold thority abroad. The time has come for ght minded men to unite in a supreme to restore the honor of France."


Article from Wood County Reporter, March 30, 1893

Click image to open full size in new tab

Article Text

TWO MORE BANKS FAIL. Great Excitement Caused By Further Financial Crashes at Nashville. NASHVILLE, Tenn.. March 27.-This city is in a state of panic and the streets are filled with hundreds of excited citizens. Following the faiure of the Commercial National Bank on Saturday, two more banks closed their doors this morning. They are the Mechanies' Savings Bank, with a capital of $500,000, and the Bank of Commerce, with a capital of $250,000. The greatest uneasiness prevails in financial circles. as it is expected that two other banks will be compelled to shut down before the close of business hours this afternoon. Over $3,000,000 is involved in the failure of the three banks mentioned above and at least a dozen small banks in adjacent towns are in temporary financial straits.


Article from The Princeton Union, March 30, 1893

Click image to open full size in new tab

Article Text

Nashville's Bank Flurry. Nashville, Tenn., March 28.-The financial panic was resumed here this morning, and hundreds of depositors withdrew their money, but in nearly every instance redeposited. as they saw that there was no cause for alarm. Two small banks, the Mechanics' and the Bank of Commerce, availed themselves of the sixty. day law. One, and probably both, will resume business. The excitement to-night had subsided, and no more trouble is feared.


Article from Goldsboro Weekly Argus, March 30, 1893

Click image to open full size in new tab

Article Text

Three Banks Fail. NASHVILLE, March 27.- - The Bank of Commerce made an ass signment this morning, naming John T. Lellyett as assignee. This action was precipitated by a general apprehension of a run on the bank, which the officers believed would be made. The deposits were not large, aggregating only $50,000 $15,000 of which was small deposits, ranging from $5 upward in the savings department. The President of the bank, J. H. Yarbrough, is not in the city, Mr. J. N. Brooks, cashier, said the sus. pension was due mainly to the failure of certain parties who are largely indebted to the bank to meet their obligations. Brooks declined to state who the parties were. The city is in a state of panic and the streets are filled with hundreds of excited citizens. In addition to the failure of the Commercial National Bank on Saturdav two more banks closed their doors this morning. They are the Mechanics' Savings Bank with a capital of $500,000 and the Bank of Commerce with a capital of $250,000, The greatest uneasiness prevails in financial circles, as it is expected two other banks will be compelled to shut down. Three million dollars are involved in the failure of the three banks men. tioned above, and at least a dozen small banks in adjacent towns are in temporary financial straits.


Article from Eagle River Review, March 30, 1893

Click image to open full size in new tab

Article Text

NASHVILLE BANK FAILS. / The Commerce Depository Passes Into an Assignee's Hands. NASHVILLE, Tenn., March 27.-The Bank of Commerce made an assignment this morning, naming John T. Lellyett as assignee. This action was precipitated by the general apprehension of a run on the bank, which the officers believed would be made. The deposits are not large, aggregating only about $50,000 to $75,000, a large part of which are in small deposits, ranging from $5 upward in the savings department. The president of the bank, J. H. Yarborough, is not in the city. J. N. Brooks, the cashier, said the suspension was due mainly to the failure of certain parties who are largely indebted to the bank to meet their obligations. Mr. Brooks declined to state who the parties were, but from outside sources it was learned that at the time that C. B. Duncan was cashier, large sums of money were loaned to W. M. Duncan and Duncan & Gaines, which, owing to their misfortune, they had been unable to pay. Tne assets and liabilities are about $100,000 each.


Article from Vermont Phล“nix, March 31, 1893

Click image to open full size in new tab

Article Text

o Financial Panic in Nashville, Tenn. Nashville, Tenn., is in a state of panic. In addition to the failure of the First Commercial bank Saturday, two more banks closed their doors Monday. They are the Mechanics' savings bank, with a capital of $500,000, and the Bank of Commerce, with a capital of $250,000. The greatest uneasiness prevails in financial circles and it is expected two other banks will be compelled to suspend. Over $3,000,000 is inthe in volued make


Article from Vermont Phล“nix, March 31, 1893

Click image to open full size in new tab

Article Text

Financial Panic in Nashville, Tenn. Nashville, Tenn., is in a state of panic. In addition to the failure of the First Commercial bank Saturday, two more banks closed their doors Monday. They are the Mechanics' savings bank, with a capital of $500,000, and the Bank of Commerce, with a capital of $250,000. The greatest uneasiness prevails in financial circles and it is expected two other banks will be compelled to suspend. Over $3,000,000 is involved in the failure of the three banks and at least a dozen small banks in adjacenttowns are in temporaryfinancial straits. There was great excitement Monday when a clamorous crowd rushed to the banks of the city to withdraw their deposits.


Article from The Dickinson Press, April 1, 1893

Click image to open full size in new tab

Article Text

Nashville's Bank Fluiry, Nashville, Tenn. March 28 The finan cial panic was resumed here this morning and hundreds of depositors withdrew their money but in nearly every instance redeposited a they saw that there was no cause for alarm Two small banks, the Mechanics and the Bank of Commerce. availed themselves of the sixfy day law One and probably both. will resume business The exeitementto-night had subsided. and no more trouble is feared.


Article from Arizona Weekly Citizen, April 1, 1893

Click image to open full size in new tab

Article Text

TELEGRAPHIC. WASHINGTON, D. C., March 27.-The report of the majority and minority the contested election case of L. E. Mantle, Senator appointed by the Governor of Montana, was made today, Hoar submitting a report of the majority in favor of seating Mantle. and Vance, chairman of the committee, a report agaiest the seating. There are two other cases, those of Beckwith, appointed by the Governor of Wyoming and Allen appointed by the Governor of Washington. In as much as the facts show the same test to be made in each case the Secator on whose credentials the report was made, it is not unlikely that as this is decided, so will be the othera. Both reports are rather lengthy and quote volumniously from the earlier decisions of the Senate upon cases dealing with the same questions. Minority reports adverse are to be made tomorrow by Vance. Call addressed the Senate on his resolution annulling the provision in the last legislative appropriation bill for the appointment of a commission of the Senate and the House to examine into the civil service of the executive departments. WASHINGTON, March 27.- The Presisident sent the following nominations to the Senate today: Felix A. Reeve Tennessee solicitor treasury; W. H. Seaman, Wisconsin U.S district judge eastern district of Wisconsin. Aibert B. Fall, New Mexico, associate justice of the supreme court of New Mexico; Samuel T. Fisher, Messachustte, assistant commissioner of Patents; Samuel F. Morse, Indiana, counsul general to Paris; Allen B. Morse, Michigan, consul at Glasgow: George J. Dennis, California, United States attorney for the southern district of California; Francisco Estudillo, California, agent for Indians Mission to Tale river Consolidated agency California, Postmasters; Mrs. A. Bates at Sonoma California. CHICAGO, March 27.-Horace Donahue, a well-known wealthy publisher, suicided today by cutting his throat with a razor in the presence of his wife. No cause known. CAICAGO, III., March 27.-From present indications it would appear that chinese laborers who reside in Chicago will all register under the Geary law and hat there will be no frictions. A good deal of inquiry has been made o late by chinese residing here as to the operation of the act and already several here have made application for registration. NASHVILLE, Tenn., March 27.-The Bank of Commerce has assigned in anticipation of a run. The deposits amounted to only about $50,000. Fail ure is due certain persons who are largely indebted to the bank being able to meet their obligations put the bank in a position not to be able to stand a run. Assette about $100,000. JACKSON, Mch., March 27.-Irving Latimer, under sentence imprisonment for life for the murder of his mother January 1889 is now at liberty armed with 8 riflle and it is not believed that ha can be captured alive. He has been allowed some privileges by night keeper Gill and took advantage of them to drug Gill and gate keeper Height, thus se curing the keys. Haight died from the effects of the poison. Gill is under ar rest as an accomplice in his escape. Hundreds of men are searching the city d surrounding country for him. ROME, March 25-The city is in a state of great excitement over an assault that was made this evening on King Humbert. The king was returning from the Villa Borghes where he had been spending a portion of the day, when a person having the general appearance of an Italian workingman threw a stone at the King, the missle almost striking the monarch. The as sailant was promptly taken in hand by the police and conveyed to prison, otherwise he would in all probability have been killed by the engry multitude. An immense crowd assembled cheered the king with frantic enthusiasm, and all the way to the palace the scene was like a triumphal procession. HONOLULU, March 28.- The uncertainity which prevails as to the probable fate of the Islands, so far as their annexation to the United States is concerned, is having a most depressing effect here. Business is du'l and 8 feeling of unrest has arisen. Opposition to annexation grows with the delay and the Royalists are showing more confidence in their assertain that the Queen will be restored to her throne. The resignation of the Minister of Finance, P. C.Jones, is reported because of ill health. There is an impression among certain prominent men here that Japan has designs on Hawair and would have annexed the Islands had not the United States forstalled her, If the United States abandons the protectorate Japan would declare that no government existed and would raise the Japanese flag. A company has been organized to engage in coffee growing on the Islands. SAN FRANCISCO, March 28.--The United States ship Alliance arrived from Honolulu this morning. She reports all quiet at the Islands, the only news being the resignation of Jones, Minister of Finance and the pointment of T. C. Porter in his place. Up to March 16, when the Allience left the American protectorate was still in force. SCRANTON, Pa., Mar. 28.-Barney McFadden, a miner, murdered his wife and


Article from The Bottineau Pioneer, April 1, 1893

Click image to open full size in new tab

Article Text

Nashville's Bank Flurry. Nashville, Tenn., March 28.-The financial panic was resumed here this morning, and hundreds of depositors withdrew their money, but in nearly every instance redeposited. as they saw that there was no cause for alarm. Two small banks, the Mechanics' and the Bank of Commerce, availed themselves of the sixtyday law. One, and probably both, will resume business. The excitement,to-night had subsided, and no more trouble feared.


Article from The Enterprise, April 5, 1893

Click image to open full size in new tab

Article Text

A Panie at Nashville. NASHVILLE, Tenn, March 28.-This city is in a state of panicand the streets are filled with hundreds of excited citizens. In addition to the failure of the Commercial National bank on Saturday two more banks closed their doors yesterday. They are the Mechanics' Savings bank. with a capital of 8500,000. and the Bank of Commerce, with a capital of $250,000. The greatest uneastness prevails in financial circles, as it is expected two other banks will be compeiled to shut down. Over $8,000,000 is involved in the failure of the three banks mentioned above and at least a dozen small banks in financial straits


Article from Goldsboro Weekly Argus, April 6, 1893

Click image to open full size in new tab

Article Text

Three Banks Fail. NA2HVILLE, March 27.-The Bank of Commerce made an ass signment this morning, naming John T. Lellyett as assignee. This action was precipitated by a general apprehension of a run on the bank, which the officers believed would be made. The deposits were not large, aggregating only $50,000 $15,000 of which was small de= posits, ranging from $5 upward in the savings department. The President of the bank, J. H. Yar~ brough, is not in the city, Mr. J. N. Brooke, cashier, said the sus. pension was due mainly to the failure of certain parties who are largely indebted to the bank to meet their obligations. Brooks declined to state who the parties were. The city is in a state of panic and the streets are filled with hundreds of excited citizens. In addition to the failure of the Commercial National Bank on Saturday two more banks closed their doors this morning. They are the Mechanics' Savings Bank with a capital of $500,000 and the Bank of Commerce with a capital of $250,000, The greatest uneasiness prevails in financial circles, as it is expected two other banks will be compelled to shut down. Three million dollars are involved in the failure of the three banks men. tioned above, and at least a dozen small banks in adjacent towns are in temporary financial straits.


Article Text

SIXTY YEARS AGO TODAY. (From The Journal The governor issued proclamaorganizing the new counties Furnas, Keith and Red Willow. The music class the friends of Miss Ettie Lewis, teacher, proposed giving benefit the ehurch, she for the choir Faerie Queen" be presented. FIFTY YEARS TODAY. Ex-Governor Butler bought section of land six miles south Lincoln for $10 acre. The state association session at attendance about 200. fessor of Kansas City delivered the address. FORTY YEARS AGO TODAY. test vote in the senate showed the Newberry bill would branches the legislature. The Nashville Bank of Comfailed. was one more sign the coming storm. THIRTY YEARS AGO TODAY. was the opinion of expert obthat the political power the Burlington road had been greatly damaged by attempting too many things in the legislaColonel Mosby, special agent of the department, easy over the attitude of the They wanted to fence public TWENTY YEARS AGO Arthur Mullen was the storm center senate fight concernthe allowing of claims. The flood waters in Ohio recedfound that the number persons drowned all the


Article Text

SIXTY YEARS AGO TODAY. (From The Journal Files.) The governor issued proclamations organizing the new counties of Furnas, Keith and Red Willow. The music class and the friends of Miss Ettie Lewis, music teacher, proposed giving her a benefit at the Baptist church, where she played for the choir. "The Faerie Queen" was to be presented. FIFTY YEARS AGO TODAY. Ex-Governor Butler bought a section of land six miles south of Lincoln for $10 an acre. The state teachers' association was in session at Columbus with an attendance of about 200. Professor Greenwood of Kansas City delivered the address. FORTY YEARS AGO TODAY. A test vote in the senate showed that the Newberry bill would pass both branches of the legislature. The Nashville Bank of Commerce failed. It was one more sign of the coming storm. THIRTY YEARS AGO TODAY. It was the opinion of expert observers that the political power of the Burlington road had been greatly damaged by attempting to do too many things in the legislature. Colonel Mosby, special agent of the interior department, was uneasy over the attitude of the big cattlemen in Nebraska. They wanted to fence public domain. TWENTY YEARS AGO TODAY. Arthur Mullen was the storm center in a senate fight concerning the allowing of claims. The flood waters in Ohio receding, it was found that the number of persons drowned in all the af-