Bank of Collierville (Collierville, TN)

Episode Information

Episode UID
87025371353
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
8702537 routing
Routing Number
87-0253
Start Date
September 28, 1912
Location
Collierville, Tennessee (35.042, -89.665)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
3b9985e3ec63cb25

Response Measures

None

Description

Closure followed discovery of large cashier defalcations and receivers were appointed; no run reported.

Events (2)
1. September 28, 1912 Receivership
Newspaper Excerpt
Following the closing of the bank a general creditors' bill was filed...receiver of the defunct bank of Collierville, Tenn., testified ... J. F. Hunter, receiver of the defunct bank of Collierville, Tenn., testified today at the trial of L. T. Ward
Source
newspapers
2. September 28, 1912 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Discovery of large shortages/defalcations by cashier L. T. Ward leading to insolvency
Newspaper Excerpt
at the time of its suspension September 28
Source
newspapers

Newspaper Articles (11)
1. November 1, 1912 Evening Star Washington, DC
Article from Evening Star, November 1, 1912

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Article Text

ARREST BANK OFFICIAL. Accused of Taking Deposits When Institution Was Insolvent. MEMPHIS, Tenn., November 1.-L. T. Ward, cashier of the Bank of Collierville, Collierville, Tenn., at the time of its suspension September 28, was arrested yesterday on a warrant charging that he rereceived deposits when he knew the institution was insolvent. Following the closing of the bank a general creditors' bill was filed, alleging that the bank was without cash resources, as the result of defalcations. The bill stated that the assets were $135,000 and the liabilities $136,000, about $60,000 of which was due depositors.

2. November 1, 1912 Newark Evening Star and Newark Advertiser Newark, NJ
Article from Newark Evening Star and Newark Advertiser, November 1, 1912

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Article Text

ARREST OF BANK CASHIER MEMPHIS, Tenn., Nov. 1.-L. T. Ward, cashier of the Bank of Collierville, Collierville, Tenn., at the time of its suspension September 28, was arrested yesterday on a warrant charging that he received deposits when he knew the institution was insolvent.

3. November 23, 1912 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, November 23, 1912

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Article Text

CONNECT MINISTER WITH SHORTAGE Memphis, November 22.-L T. Ward, ordained a Methodist minister, former cashier of the Bank of Colliersville, Tenn., now 111 at his home in that town and under investigation by the Methodist conference of the Memphis district, is named in a review made to the receiver of the bank today by auditors of the books in connection with a shortage of $38,001.04, false entries, the auditors' reports says, from September 27, 1909, to December 31, 1911, covered discrepancies ranging from $1500 to $18,991.04 and embraced non-existent credits to banks in Memphis, Nashville and New York. Mr. Ward has declined to say how the money was spent, except that he invested $15,000 in a lime and cement plant at Chattanooga. The bank was closed last September. Its assets, excluding Rev. Ward's bond and the amount due from him, are placed at $145,614.11 and its liabilities but $3,315.05 more. It 1s, generally believed the bank will pay its depositors dollar for dollar. Ward was recently arrested on a warrant charging irregular banking methods and released under bond.

4. December 24, 1912 Norwich Bulletin Norwich, CT
Article from Norwich Bulletin, December 24, 1912

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Article Text

Former Preacher Arrested. Memphis, Tenn., Dec. 23.-L. T. Ward, a former preacher and cashier of the suspended Bank of Collierville, Tenn., was taken from a local hospital where he wa sa patient to the county jail late today, charged with larceny and the embezzlement of $28,000 of the bank's funds

5. December 24, 1912 Tulsa Daily World Tulsa, OK
Article from Tulsa Daily World, December 24, 1912

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Article Text

FORMER MINISTER ARRESTED Taken From Hospital to Jail Charged with $38,000 Embezzlement 01 Bank's Funds. Memphis, Tenn., Dec. 23.-L. T Ward, a former minister and cashier of the suspended Bank of Collierville, Tenn., was taken from a local hospital, where he was a patient, to the county jail today and imprisoned, charged with laceny and the embezzlement of $38,000 of the bank's fur

6. December 24, 1912 The Sentinel=record Hot Springs, AR
Article from The Sentinel=record, December 24, 1912

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Article Text

BANKER REMOVED I FROM HOSPITAL TO IAII num HE IS CHARGED WITH LARCENY AND EMBEZZLEMENT OF FUNDS OF BANK. Memphis, Tenn., Dec. 23.-L. T. Ward, a former minister and cashier of the suspended bank of Collierville, Tenn., was taken from a local hospital, where he was a patient, to the county jail, late today and imprison+ ed charged with larceny and the embezzlement of $38,000 of the bank's fund. An indictment against Ward was returned several days ago but because of his illness he was not arrested until today when county physician T. C. Graves examined the accused banker, and reported that he was not suffering from a serious ailment. Ward's condition was attributed to a nervous collapse. Bond was fixed at $20,000 but up to a late hour tonight it has not been furnished. The bank of Collierville closd its doors several months ago. It is charged that Ward used funds of the institution to promote private enterprises among them a cement company located at Chattanooga, Tenn.

7. December 27, 1912 The Forrest City Times Forrest City, AR
Article from The Forrest City Times, December 27, 1912

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Article Text

Minister-Banker Jailed. Memphis.--L. T. Ward, a former minister and cashier of the suspended Bank of Collierville, Tenn., was taken from a local hospital where he was a patient, to the county jail and imprisoned, charged with larceny and the embezzlement of $38,000 from the bank's funds. An indictment against Ward was returned several days ago, but because of his illness, he was not arrested until later, when County Physician T. C. Graves examined the accused banker and reported that he was not suffering from a serious ailment.

8. December 27, 1912 The Green Forest Tribune Green Forest, AR
Article from The Green Forest Tribune, December 27, 1912

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Article Text

Minister-Banker Jailed. Memphis.-L. T. Ward, a former minister and cashier of the suspended Bank of Collierville, Tenn., was taken from a local hospital where he was a patient, to the county jail and imprisoned, charged with larceny and the ambezzlement of $38,000 from the bank's funds. An indictment against Wind was returned several days ago, by because of his illness, he was not arrested until later, when County Physidan T. C. Graves examined the accused banker and reported that he was not suffering from a serious ailment.

9. February 1, 1913 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, February 1, 1913

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Article Text

CASHIER ADMITTED A SHORT ACCOUNT President Ward on Stand in Defunct Bank Case Memphis January 31.-J. M. Ward, president, and James F. Hunter, receiver of the defunct bank of Collierville, Tenn., testified today at the trial of L. T. Ward, minister, and former cashier of the bank at the time its doors were closed last October, that the cashier had admitted to them that he was short in his accounts. Ward is charged with having misappropriated funds to the amount of $38,000. President Ward declared that, although he was the nominal head of the institution, the cashier had "really been the bank." The two men are not related. "Last September the bank's checks were turned down," said the witness, "and when I called on the cashier, Ward, he told me that the bank was 'busted' and that he had taken the money; that he had been 'in hell' for a year." The cashier admitted, he said, that he held $20,000 of stock in a lime and cement company located in Chattanooga, Tenn., and that he had loaned $1500 to a friend. Hunte testified that Ward also made a confession to him. An audit of the bank's books, Hunter said, showed a shortage of $38,000.

10. November 21, 1913 McNairy County Independent Selmer, TN
Article from McNairy County Independent, November 21, 1913

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Article Text

ARE SUING ON L. T. WARD'S BOND. Cashier's Defalcations Wrecked Bank of Collierville. Memphis.-Judge J. P. Young of the circuit court, sitting as a court of chancery by interchange with Chancellor F. H. Heiskell, took up the suit of J. F. Hunter and Lamar Heiskell, receivers of the Bank of Colliervill, against the United States Fidelity & Guaranty Co. of Baltimore, surety on the bond of L T. Ward, defaulting cashier.

11. January 4, 1917 The Morgan County Press Wartburg, TN
Article from The Morgan County Press, January 4, 1917

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Article Text

TENNESSEE IN BRIEF Nashville.-Ex-Gov. John A. Dix of New York and Mrs. Dix are the guests of the Hermitage Hotel. Mr. Dix was governor of New York in 1910-12. Petersburg.-Mrs. Mollie Sweeney was found dead in bed at the home of her brother, James Davis, at this place, She was 66 years old and a member of the Christian church. Memphis.-Telegrams have been ceived in Memphis announcing the death of Simon Adler, formerly prominent Memphis merchant, which occurred in Philadelphia. Nashville.-The remains of Dr. R. Vernon, formerly of Nashville, who died at the home of his son, Charles Vernon, in Los Angeles, Gal., was brought here for burial. Memphis.-James F. Hunter and mar Heiskell, receivers of the Bank of Collierville, have been discharged and the affairs of the institution have been declared as wound up by the chancery court. Jackson.-A. J. Peoples, manager of the local office of the Standard Oil Co., received information of the death of his brother, H. A. Peoples, in Detroit Mich. The latter was formerly a ber of the police force of Jackson. Cookeville.-Thomas Finley of this city has been appointed referee bankruptcy for this division of the middle Tennessee district. He succeeds Gen. Alfred Algood, who recently dered his resignation. Knoxville.-The ten-story building erected by the Knoxville Banking Trust Co., which institution was placed in the hands of receivers in 1912 was sold at auction by the receiver for $131,500. Cookeville.-All of the houses of this city have been numbered and cards containing the names of the streets have been placed at all of the street crossings. The free city delivery service has been inaugurated Paris.-One of the most impressive ceremonies by the Masons and bers of the Eastern Star which public has had an opportunity to ness was the installation of officer of Martha Chapter, Order of Easter Star. Lexington.-Elder E. P. Watson 9 who for about two years has been aggressive pastor of the Christia church at this place, has resigned preached his last sermons Sunday. influence for good in this section been far-reaching. Bristol.-The directors of the Bris tol board of trade, at a meeting thi week, joined various other southern commercial organizations in formall endorsing Muscle Shoals as the for the proposed government nitrat plant. Chattanooga.-The local committe having in charge the matter of senting to the naval board appointe to study sites for the government mor plate plant, which is to come her about Jan. 1, feels confident of ing the plant. Lawrenceburg-There has bee quite an influx of immigrants to Law rence county within the last fev months. While the majority are fron Alabama, many prospectors have beer