Peoples Bank (Lewisburg, TN)

Episode Information

Episode UID
87019271121
Episode Type
Run โ†’ Suspension โ†’ Unsure
Bank Type
state
Bank ID
8701927 routing
Routing Number
87-0192
Start Date
May 13, 1893
Location
Lewisburg, Tennessee (35.449, -86.789)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ded333123f3974f7

Response Measures

None

Description

The bank experienced a run in May 1893 that was calmed by stockholder guarantees, but it eventually suspended in August 1893 following the failure of its Nashville correspondents.

Events (3)

1. May 13, 1893 Run
Cause
Local Banks
Cause Details
Owing to the failures of banks at other places, the People's Bank the Lewieburg became last week victim of rumors as to it's soundness
Measures
Stockholders signed a paper guaranteeing depositors against loss.
Newspaper Excerpt
there was reason to believe there was going to be a run on it. and to reassure the depositors the public, a large number of the stockholders signed a paper guaranteein it depositore against loss.
Source
newspapers
2. August 11, 1893 Run
Cause
Correspondent
Cause Details
Suspension of Nashville correspondents (First National and American National) and a constant drain by depositors.
Newspaper Excerpt
The suspension is due to the suspension of the First National and American National banks of Nashville; the constant drain by depositors
Source
newspapers
3. August 12, 1893 Suspension
Cause
Correspondent
Cause Details
Suspension of Nashville correspondent banks and inability to collect money.
Newspaper Excerpt
The People's bank, at Lewisburg, failed to open its doors this morning. The suspension is due to the suspension of the First National and American National banks of Nashville
Source
newspapers

Newspaper Articles (14)

Article from The Columbia Herald, May 19, 1893

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Article Text

Last Saturday Vice-President ClarksStevenson passed through his way to Stewart County, with ville Tenn., on where be is interested others in Mineral lands. Tennessee farmer, named Overton Josiah Copeland, A of Livingstou, unwent deranged last week He County, peculiar circumstancer. der a lot of stock from Nashville to Vernon, via to Memphis, he shipped When Mempois be got suddeu- Texas. down mind and knocked ly or the lost conductor his freight wondered train the then rau away. He and the swamps several days, about finally in got back to Memphir, Overton but a fo mer President of His where took charge of him. has County went on to Texas, but he son stock been sent back home. He has a in the insane a-yium. In view of the possibility that be a Turney mav not again Nashcandidate Governor for the office, the ville American speaking of probable has candidate say- Rutherford is the Horace Palmer, who young of his fellow-citizens. peer Lillard of Thompson, any of Wilson, Con- of Jos. E. Washington, of Robertson, greesman Judge C. W. Tyler, HAYMontgomery, Frank Boud, of Shelby, Luke Wright, of wood, Bullock, of Madison. Barton, Senator Houston, of Cannon, of Hamilton, Pillow, of Marshall, Park W. Marshall, Ernest of Williamson, and Z. pleasof Gilew, are all names GovernEwing, to the people who make others ing And there are many to" ors. whom it is unnecessary to refer . dispatch of last week eays: exA Harris and Bate both , Senators to leave Washington Monday his peat Senator Harris will go to to 1 ranch and Senator Congressmen . Cox and Couto leave by that night. Texas Dearmov, Nashville. Snodgree time. Richardson Enloe, Bate alaso Mcgressmen expect McMillin and will remaina while longer. Murfreesboro hotels did a land r business last week. Congress- and office Richardson was at home that was office-seekers swarmed to borough. :It is semi-officially and announced 1, Mrs. Cyrus W. McCormick, n that of the millionsire mowing a g. machine widow manufacturer, will build e palatial residence near Maryville, d Blount County, Tenn. 8. m Gov. Turney has filled all the and not a single newspaper all er was appointed. But ir has no right to be all app for d 18 to whoop 'em up iif he is er offices man editor his His man business and elected then intimate icant. some idisgruntied follow might if he that he had subsidized the press y show his gratitude by remem Ob10 d should bering the Stor.-Fayetteville server. g nThe Tennessee Importing Com- 8 gof Nashville, have just won pany, lsw suit |rom the N is & Texas Railway, of $10,000 Kan-as number Missouri growing e, the burning of a to out transit from St. Z. in October, DO of in Tex., 1891. Louis A tried at Paris last 8 the railroad company d. they lost. case jacks Paris, strong though was fight, imported The week, made jack from The and S. burned had only been and were d Spain H short time before, be sold ve their way to Paris to death ir ou of them were burned to The Seven number badly injured. an ty and Importing is Company sued for $15,000 ve L. B. Best, a merchant, of suicide New ou Middleton, Tenu., committed shooting ng Wednesday morning by had ge himself through the heart. He th recurred from Nashville, waer ar ed just failed to make satisfactory 18rangements ne with his creditors. ili ep Owing to the failures of banks a a other places, the People's Bank the Lewieburg became last soundness werk of rumors as to it's victim there was reason to believe orde so and going to be a run on 11. and In an was reassure the depositors th he to public, 8 large number of the stock he holders signed a paper guaranteein it depositore against loss. This seemed to satisly the public. ir, go Louie Sells, 14 years of age, who Mem re im at No. 8 Mulberry street, Sheri sidee was arrested by Deputy H and taken to his father with an as-au!ted phis, Richardson jail. chase ugly looking butcher knife and whe ew him from the premises, and him h se Deputy Richardson arrested tudrew the kn fe on the officer. adotLast Monday Willie Smith W ess driving home a couple of yearling bridg and when crossing the stone at ew and of them jumped the wall one landed on 158 back in the uninuure water


Article from San Antonio Daily Light, August 12, 1893

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Article Text

Another Tennessee Bank Gone. NASHVILLE, Tenn., Aug. 12.The People's bank, at Lewisburg, failed to open its doors this morning. The suspension is due to the suspension of the First National and American National banks. of Nashville constant drain by depositors, and failure to collect money. The President and cashier, state that the bank is in a first-class condition, and they are confident that it will be able to resumd in a few days, or as soon as a meeting of the stockholders and depositors can be held. There is no excitement at Lewisburg, on account of suspension.


Article from Asheville Daily Citizen, August 12, 1893

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CLOSED DOORS. No Very Important Failures In This List. BROOKLYN, N. Y., Aug. 12.-The Commercial bank of Brooklyn, a State institution, failed to open its doors this morning. GADSDEN, Ala., Aug. 12.-The First National bank suspended payment this morning. Depositors will be paid in full. LANCASTER, Pa., Aug. 12.-The bank of E. K. Smith at Columbia, closed this morning to liquidate. The bank is a small one. NASHVILLE, Tenn., Aug. 12.-The People's bank at Lewisburg, Tenn., suspended payment this morning.


Article from The Waco Evening News, August 12, 1893

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Article Text

Due to Other Suspensions. By Associated Press to The News. NASHVILLE, Aug. 12.-The People's Bank at Lewisburg failed to open its doors this morning. The suspension is due to the suspension of the First National and American National Banks of Nashville; the constant drain by depositors and the failure to collect money. The president and cashier state that the bank is in first class condition, and they are confident that it will be able to resume in a few days, or as soon as a meeting of the stockhold. ers and depositors can be held. There is no excitement at Lewisburg on account of the suspension.


Article from Evening Star, August 12, 1893

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Article Text

CLOSED THEIR DOORS. Banks That Have Suspended Payments to Their Depositors. LANCASTER, Pa., Aug. 12-The following notice was posted on the doors of the bank of E. K. Smith, at Columbia, this morning: "Closed for the present to liquidate." The bank is a small one. No statement of assets and liabilities has yet been made. GADSDEN, Ala., Aug. 12.-The First National Bank suspended payment this morning with a capitol stock of $50,000 and deposits of $80,000. The directors assure depositors that they will be paid in full. NASHVILLE, Tenn., Aug. 12.-The People's Bank at Lewisburg, Tenn., suspended payment this morning.


Article from The Times, August 13, 1893

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Concerted Action by Numerous Banking Institutions. NASHVILLE, TENN., August 12.-The People's Bank, at Lewisburg, failed to open its doors this morning. The suspension is due to the suspension of the First National and American National Banks, of Nashville, a constant drain by depositors and the failure to collect The president and cashier state bank is in are confident It will be to money. and that they the first-class condition, able a resume in a few days, or as soon as meeting of the stockholders and depositors can be held. There is no excite+ ment at Lewisburg on account of the suspension. BROOKLYN, N. Y., August 12.--The Commercial Bank, of Brooklyn, a State institution, failed to open its doors this morning. The following notice was posted on the door: This bank is compelled to close temporarily. (Signed) J.J. Vall, cashier. GADSDEN, ALA. August 12.-The First National Bank suspended payment this morning with a capital stock di- of $50,000 and deposits of $80,000. The rectors assure the depositors that they will be paid in full. LANCASTER, Pa., August 12.-The following notice was posted on the doors of the bank of E. K. Smith, at Columbia, this morning: "Closed for the present to liquidate." The bank is a small one. NASHVILLE, TENN., August 2.-The Fourth National Bank was rewhen that its doors, but by noon sumed opened run on this the morning, institution it than was practically over, as there were less dozen men standing at paying teller's desk. a The deposits by substantial busimen were quite as large as the ness amount drawn out by others. There is uneasiness now, and the crisis is evino dently over. The People's Bank and the Bank of Lebanon, two State institutions Lebanon, have adopted a rule to pay at only 5 per cent. of deposits, and give certitled checks for balances. NEW YORK, August 12.-The weekly statement of the associated banke shows the following changes: $2,327,575 Reserve, decrease 3,017,200 Loans, increase 2,306,000 Specie, decrease 408,000 Legal tenders, decrease 741,700 Deposits, decrease 733,100 Circulation, The banks increase. are now $16,545,375 below the requirements of the 25 per cent. rule. STAUNTON, VA., August -Special The following resolutions were adopted by the National Valley Bank to-day and the concurred in by the other banks of city, and is fully indorsed by our entire community: Whereas the banks of the principal of the country and this State, de- in cities order to protect themselves against a pletion of currency, have declined to furnish currency against balances due by them: and Whereas it is deemed advisable for the of this city, in their endeavor to not only their own of their depositors and the banks protect those adopt interests, similar whole but community, to of and thus to be of service to their to business banks means precaution, enable customers action the the public, being similar and and taken by the banks of this city State that in 1873, by which no depositor was inconvenienced; therefore, be it Resolved, That during the present checks mondepression this bank pay to etary against existing balances drawn amount not exceeding fifty ($50) of an dollars in currency, in the discretion the bank. but that ON good, of checks we certify the same as payable through the daily exchange and made be between the banks of this city, it further Resolved, That checks against deposits be by currency after this date of this made in currency at the counter between bank, paid or through the exchange banks at the option of the depositor. resolution will take effect from This this date. Our banks are solvent and and on conservative, and the action taken is to protect our community and business cities. on the same lines as in other There will be no trouble here. GREENVILLE, MISS., August 12. to-day The banks here at 10 A. M. three notices on their doors that checks no posted would be paid out on issued money that certified checks would be at instead. but At a meeting of cilzens held the Cotton Exchange this afternoon reso- aclutions were adopted approving the tion of the banks. MONTGOMERY, ALA., August 12.Josiah Morris & Co., the leading private an banking house of the State, made is due assignment late this evening. It continued withdrawal of deposits to during the the last sixty days and large drafts being made to-day. This act has ofcaused a meeting of the other bank to-night, and they resolved, clear- commencing ficers Monday morning, upon the not yet ing house system. what percentage They have they will announced This will be made known Monday pay. In their card in the Adverthe bankers of Morris & Co. tiser morning. assets to-morrow will state liabilities. easily that the largely more than the who This realize is the general belief of those are acquainted with the situation.


Article from The Morning News, August 13, 1893

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LEWISBURG'S BANK. The Suspension Said to be Only Temporary. Nashville, Tenn, Aug. 12.-The people's bank at Lewisburg failed to open its doors this morning. The suspension is due to the suspension of the First National and American National of Nashville, a constant drain by depositors, and failure to collect money. THE BANK DECLARED TO BE SOLID. The president and cashier state that the bank is in first class condition, and they are confident that it will be able to resume in a few days or as soon as a meeting of the stockholders and depositors can be held. There is no excitement at Lewisburg on accoont of the suspension.


Article from The Roanoke Times, August 13, 1893

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Lewisburg Bank Closes Its Doors. Nashville. TENN., Aug. 12.-The People's Bank at Lewisburg failed to open its doors this morning. The suspension is due to the suspension of the First National and American National Banks of Nashville, a constant drain by depositors and failure to collect money. The president and cashier state that the bank is in first class condition and they are confident that it will be able to ro sume in a few days.


Article from Richmond Dispatch, August 13, 1893

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QUARANTINE AGAINST BRUNSWICK. WAYCROSS, GA., August 12.-Waycross has quarantined against Brunswick tonight and also against Pensacola. QUARANTINE AT SAVANNAH. SAVANNAH, GA., August 12.-Savannah declared a quarantine to-night against Brunswick, and no passengers, baggage. or freight will be permitted to enter Savannah from that point. Electric Brevities. The People's Bank at Lewisburg, Tenn., snspended payment yesterday. The following notice was posted on the doors of the bank of E. K. Smith, at Columbia, Pa., vesterday morning: Closed for the present to liquidate." The bank is a small one. The First National Bank of Gadsden. Ala., suspended payment vesterday morning. Capital stock. $50,000: deposits. $80,000. The directors assure depositors that they will be paid in full. The Commercial Bank of Brooklyn, N. Y., a State institution. failed to open yesterday morning. the following notice being posted on its doors: "This bank is compelled to close temporarily. J. J. Vail, Cashier."


Article from The Indianapolis Journal, August 13, 1893

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Tennessee Bank Troubles. NASHVILLE, Aug. 12-The run on the Fourth National Bank was resumed this morning when that institution opened its doors, but by noon it was practically over, as there were less than a dozen men standing at the paying teller's desk. The deposits by substantial business men were quite as large as the amount drawn out by others. The People's Bank at Lewisburg failed to open its doors this morning. The suspension is due to the suspension of the First National and American National banks of Nashville.


Article from The Atlanta Constitution, August 15, 1893

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Nashville, Tenn., August 12.--The People's bank, at Lewisburg, failed to open its doors this morning. The suspension is due to the suspension of the First National and American National, of Nashville, a constant drain by depositors and failure to collect money. The president and cashier state that the bank is in first-class condition and they are confident that it will be able to resume in a few days or as soon as a meeting of the stockholders and depositors can be held. There is no excitement at Lewisburg on account or the suspension. Gadsden. Ala., August 12.-The First National bank suspended payment this morning with a capital stock of $50,000: deposits of $$0,000. The directors assure depositors that they will be paid in full. Lancaster, Pa., August 12.-The following notice was posted on the doors of the bank of E. K. Smith, at Columbia, this morning: "Closed for the present to liquidate." The bank is a small one.


Article from The Russellville Democrat, August 17, 1893

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Bank Failure. NASHVILLE, TENN., August 12. The People's Bank, at Lewisburg, failed to open its doors this morning. The suspension is due to the suspension of the First National and American National banks, at Nashville, a constant drain by depositors and a failure to collect.


Article from The Irish Standard, August 19, 1893

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OUT OF CASH. Many Banks in Various Localities Forced to Close Their Doors. WASHINGTON, Aug. 12.-Only two banks suspended yesterday, viz.: The National bank at Waxahachie, Tex., and Beatty's bank at Mansfield, Ill. WASHINGTON, Aug. 13.-The bank. failures reported yesterday were: The Prairie City bank at Terre Haute, Ind., and Josiah Morris & Co., the leading private banking house in Alabama, at Montgomery with liabilities of $1,100,000 and assets of $2,000,000, the People's at Lewisburg, Tenn., the Bank of Plaquemine, La., and the First national at Gadsden, Ala. WASHINGTON, Aug. 15.-The comptroller received notice yesterday of the following failures: Citizens' national at Attica, Ind., Bank of Springfield at Springfield, Mo., and the People's, Citizens' and Commercial banks at Pulaski, Tenn. WASHINGTON, Aug. 16.-Notice was received yesterday that the Hartford bank of Phoenix, A. T., had assigned, and that Johnson, Buck & Co., bankers at Ebensburg, Pa., with branch banks at Carrolltown and Hastings, had closed their doors.


Article from Grant County Herald, August 24, 1893

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OUT OF CASH. Many Banks in Various Localities Forced to Close Their Doors. WASHINGTON, Aug. 11.-The following bank failures were reported yesterday: The American national at Nashville, Tenn., the Hamilton county state bank at Webster City, la., the Caldwell county exchange bank at Kingston, Mo., the Exchange bank at Polo, Mo., and Johnston, Buck & Co., of Ebensburg, Pa., conducting banks at Ebensburg, Carrollton and Hastings. WASHINGTON, Aug. 12.-Only two banks suspended yesterday, viz.: The National bank at Waxahachie, Tex., and Beatty's bank at Mansfield, III. WASHINGTON, Aug. 13.-The bank failures reported yesterday were: The Prairie City bank at Terre Haute, Ind., and Josiah Morris & Co., the leading private banking. house in Alabama, at Montgomery with liabilities of $1,100,000 and assets of $2.000,000, the People's at Lewisburg, Tenn., the Bank of Plaquemine, La., and the Firstnational at Gadsden, Ala. WASHINGTON, Aug. 15.-The comptroller received notice yesterday of the following failures: Citizens' national at Attica, Ind., Bank of Springfield at Springfield, Mo., and the People's, Citizens' and Commercial banks at Pulaski, Tenn.