Article Text
Nashville Negro Bank Considers Closing Doors Nov People's Bank negro morning the board called decide upon be pursued
Peoples Savings Bank & Trust Company (Nashville, TN)
Episode Information
- Episode UID
87001971571- Episode Type
- Suspension → Closure
- Bank Type
- trust
- Bank ID
-
8700197routing - Routing Number
87-0019- Start Date
- November 21, 1930
- Location
- Nashville, Tennessee (36.166, -86.784)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
67bc9c3b28c74069
Response Measures
None
Description
Articles report the bank failed to open in Nov 1930 and a receiver was later appointed; dividends paid by receiver in 1932.
Events (4)
1.
November 21, 1930
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank failed to open and was insolvent; closure followed other Tennessee bank failures that month.
- Newspaper Excerpt
- The People's Bank and Trust company, operated by negroes, failed to open today.
- Source
- newspapers
2.
November 28, 1930
Receivership
- Newspaper Excerpt
- The state superintendent of banks was named receiver. ... The Peoples Bank & Trust company, a Negro institution in Nashville, closed a week ago.
- Source
- newspapers
3.
May 13, 1932
Other
- Newspaper Excerpt
- Dividend Is Paid By People's Bank. Receiver for Defunct Institution Authorizes Payment. Payment of 25 per cent dividend ... the People's Bank Trust Co., Nashville, which went November 1930.
- Source
- newspapers
4.
December 24, 1932
Other
- Newspaper Excerpt
- judgment for $37,391.47 was rendered ... against the National Baptist Convention ... for notes the insolvent People's Bank Trust Company, of this city, last week.
- Source
- newspapers
Newspaper Articles (8)
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Article Text
NINE NORTH CAROLINA BANKS CLOSED TO DATE The American National at Asheville ville, With Deposits of $2,000,000 Failed to Open This Morning (By the Associated Press) ASHEVILLE, N. C., Nov. 21-The American National bank here failed to open this morning. bringing the total number of banks to close in western North Carolina in two days to nine. The bank had deposits of $2,000,000. Failure of the Central Bank and Trust company of Asheville, fourth largest bank in North Carolina, yesterday, precipitated one financial crisis in this section. More than $4 in city funds and $3,100,000 in county funds was tied up in the closing of the Central company. but officials announced the greater part of the money was covered by collateral. Mayor Gallatin Roberts said arrangements had been made to meet all public payrolls. Teachers in the various schools have voted unanimously to contin whether salaries are paid or not, pending the clearing up of the present difficulties. Total deposits tied up exceed $24,000,000 Two Missouri Banks Closed. (Ry the Associated Press) JEFFERSON CITY, Mo., Nov. 21. The Ripley County Bank and Doniphan with $334,571 resources and the Bank of Edina at Edina in Knox county with $364,175 resources were closed today. Fourteen Kentucky Banks Fail Associated Press) LOUISVILLE. Ky., Nov. 21-The number of banks in Kentucky that have suspended operations during the week was brought to fourteen today with the announcement that recorded. Telephone and telegraph lines were down by the hundreds Trans between Pierre and Huron were despatched last night by short wave retion munication in Leu of regular telegraph faHindreds of automobiles were reported stalled in drifts on highSigney apparently suite more than any other point in western Mebraska. The snow was reported to have drifted as high as the of houses. the Crestwood bank, a small institution in suburb of Louisville would not open this morning. W. A. Dicken, deputy state banking commissioner, said today he believed all Louisville banks not affiliated with the National Bank of Kentucky, first to close, were solvent. Following the closing yesterday of two banks at New Albany, Ind., across the Ohio river from Louisville, other members of the New tion met and pledged aid to each Albany Clearing House associaother should runs develop. A Kansas Bank Fails, (By the Associated Press) TOPEKA. Kan., Nov. 21.-The state bank department was noti fied of the closing of the Cleburne state bank. Cleburne. Negro Bank Fails. NASH Tenn. Nov. The People's Bank and Trust company, operated by negroes, failed to open today.
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NEGRO BANK CLOSES NASHVILLE The People's Bank Trust Co., negro bank, closed its doors here today following which started shortopening for business
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one of about a dozen banks in Tennessee that have closed this month. It was the second to fail in Nashville, its closing following by a week that of the Bank of Tennessee, a subsidiary of the investment banking house of Caldwell & Co., now in receivership. The People's Bank & Trust Co., a colored institution in Nashville, closed a week ago.
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BANKER ENDS LIFE, USING SHOESTRING (Continued From First Page) proximately $1,000,000. and he expressed the opinion that with CCOnomical administration of the in stitution's affairs the depositors would be paid in full. The state superintendent of banks was named receiver. One of Dozen Banks The Liberty Bank & Trust company was one of about a dozen banks in Tennessee that have closed this month. It was the second to fail in Nashville, its closing following by a week that of the Bank of Tennessee. it subsidiary of the investment banking house of Caldwell and company. now in receivership. The Peoples Bank & Trust company. a Negro institution in Nashville, closed a week ago.
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Dividend Is Paid By People's Bank Receiver for Defunct Institution Authorizes Payment Payment of 25 per cent dividend depositors of the People's Bank Trust Co., Nashville, which went November 1930. was Friday by Robertson. State Superintendent Banking There will be out approximately 6,000 checks White depositors of the the to approximately Robertson the dividends would have authorized but for the fact there delay of one an effort was being reorganize the had been one of leading Negro of this section. was also that had been enabled liquidate but the $25,000 bills payable of the Another dividend to be paid this is anticipated. according Superintendent Robertson
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COURT ORDERS BAPTISTS TO $37,391 NASHVILLE, judgment for $37,391.47 was rendered in the second chancery court against the National Baptist Convention of the United States of America, District of corporation, for notes the insolvent People's Bank Trust Company, of this city, last week. receivers for the insolvent presented amount with $2,000 additional The latter was deattorney's ducted allowances made rent of the bank building ownby and reoeiver bank, conducthis there. judgreturned against convention and its sureties on the obligations. National Convention is the The group Baptists. Sunday School Board of the National Baptist M. Townsend
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Baptists Get $17,000 Cut From Judgment NASHVILLE, Tenn.-The judgment of $41,000 which the receivers of the People's Trust and Savings Bank, a colored institution here, got against the Sunday School Publishing Board of the National Baptist Convention, was compromised last week, when the receivers allowed a decrease in the judgment to be entered in the court records of $17,000. Terms were allowed for payment of the judgment which was secured on the basis of notes of the publishing board which were in the bank at the time of its closing.