Planters Bank (Nashville, TN)

Episode Information

Episode UID
7368090907
Episode Type
Suspension โ†’ Closure
Bank Type
state
Bank ID
736809 hash
Start Date
July 8, 1875
Location
Nashville, Tennessee (36.166, -86.784)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
354d5dfec7fc17bc

Response Measures

None

Description

Articles describe liquidation under a trustee/receiver and public sale of remaining assets; suspension is implied rather than explicitly described.

Events (2)

1. July 8, 1875 Receivership
Newspaper Excerpt
The final reports and decrees in connection with the liquidation of the Planters bank, by Dempsey Weaver, trustee, were made in the chancery court yesterday.
Source
newspapers
2. September 26, 1875 Other
Newspaper Excerpt
The remaining Assets of the Planters' Bank will be sold, for cash, in October and November next ... Sales will take place ... Nashville, at 11 o'clock, October 20, 1875.
Source
newspapers

Newspaper Articles (2)

Article from Memphis Daily Appeal, July 8, 1875

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Article Text

PLANTERS BANK. Fival Reports and Decrees in Counce. tion With Its Liquidation-The & 1. fairs of the Institution Wound Up by a Faithful Trustee. Nashville Banner, Tuesday.] The final reports and decrees in connection with the liquidation of the Planters bank, by Dempsey Weaver, trustee, were made in the chancery court yesterday. On the first day of June, 1873, the date of the last examinstion and report, the trustee, Dempsey Weaver, was found chargeable with assets aggregating the sum of $376,133 74. The present examination shows that on account of transactions between June 1, 1873 and May 31, 1875, the trustee is chargeable with the additional sum of $28,159 97, making a total of $404,293 71 to be accounted for. Of this sum the trustee is entitled to credits amounting to $68,047 75. The total assets charged to the trustee and receiver on the books of the bank are $4,926,774 02; his total credits are $4,590,528 06; assets remaining as before stated, $336,245 96 Every effort has been made by the trustee to collect the assets which come into his hands. It is manifest that & large proportion of the assets remaining uncollected as above are wortbless, and any further efforts to collect the same by legal processes would be useless expenditure of funds. Under these circumstances the suggestion of the trustee that he be allowed to dispose of all remaining assets by a public sale, about October 1, seems proper. C. 1875, companiation wise of the and trustee should The be as the rate of $5000 per annum. The receive." 8 report shows a profit and loss account O $2,366,964 80 for dis. counted notes and Confederate money, war bonds, expenses, attorneys fees, sundry judgments against the bank, etc.; amount paid on account of first, second, third and fourth pro rata dividends to stockholders, $384,781 06; by Planters bank stock charged to capital stock, $69,200; by Planters bank notes redeemed and burned, $1,767,722 45; amount paid on old dividende, $1859 75. This makes the total amount of credits to him as trustee and receiver, from July 31, 1865, to May 31, 1875, $4,590,528 06. From the amount charged, $4,926,774 02, deduct $4,590,528 06, and there remains as assets, $336,245 96.


Article from Memphis Daily Appeal, September 26, 1875

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Article Text

PLANTERS' ANKOFTENNESSEE Y an Order of the Chancery Court of DavidB son county, Tennessee, the remaining Assets of the Planters' Bank will be fold, for cash, in October and November next, to close the trust. Sales will take place as follows: At the Courthouse door Nashville, at 11 o'clock, October 20, 1875. At the Courthouse door Memphis, at 11 o'clock, October 6, 1875. Lands in Texas, at Marshall and Galveston, October 6, 1875. Lands in Mississippi, at Vicksburg, October 6, 1875. One tract of land in Kentucky, at Danville, Kentucky, November 6, 1875. For full particulars, apply for printed schedule to D. WEAVER, Trustee and Receiver sep3-d&w NASHVILLE, Sept. 1, 1875.