Battery Park Bank - Asheville, NC

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: *
Location: Asheville, North Carolina (35.601, -82.554)

Metadata

Model: gpt-5-mini
Short Digest: 99578b55

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Article (Asheville Times, 1928-02-13) recounts a past run on the Battery Park Bank following the failure of the First National Bank in July (year not stated). The run was met by officers who paid depositors and the bank survived — no suspension or receivership is mentioned. Date of the run is not specified in the article, so event date is left null.

Events (1)

1. * Run

Cause: Local Banks
Cause Details: Run began following the failure of the First National Bank in July, which spooked depositors.
Measures: Bank officers calmly paid out cash to depositors (cashed checks, counted pennies) and reassured public; officers worked to restore confidence so business continued.
Newspaper Excerpt: After the failure of the First National Bank July ... One morning run on the bank began.
Source: newspapers

Newspaper Articles (1)

1. February 13, 1928 The Asheville Times Asheville, NC

Article from The Asheville Times, February 13, 1928

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Article Text

RITES TUESDAY FOR E. RANKIN, FORMER MAYOR (Continued from page his striking apcharacteristics pearance. Though he never allowed himself wealth. great to do, and he Mr. Rankin was well with many was businesses. He was one president for of the the Asheville Power many and now the Power and Light opthe Asheville street car erated tem. Essentially Banker He also one of the organizers was Building and Loan of the Blue Ridge and 20 years until for its president. Formerly his was of the old Western North Carolina Rankin essentially a But Mr. banker. When the National Bank of Ashethe be the close of the city Civil was opened, Mr. Rankin At the time into was chairman of the of his death he board and trust officer of the Ameribank. In the years becan National tween there had only four when not with he was followed 1915 he was his the first mayor of Ashe- of under the commission form ville government. banking career, he served In his four banks. He left the National of the WestCol. ern Coxe Sawyer Frank founded the Battery Park which years ago by the Wachovia Bank and Trust company. 50 Public Offices It has been that Mr. Rankin held fifty public positions in Asheville and Buncombe none which he ever sought for himself. In he was Democrat, voted the Demoticket for years without missing an He mayor of the was city in 1897 he was elected again the H. Lamar Gudger, by the small margin votes. In he was elected for two year terms and 1915 for making his one from 1911 to During 22 years that he served as chairman the county of riod in the he elected the custom here the justices of the 1908 and again 1910 he was put in the office by popular For many Mr. Rankin had First Presbyterchurch. Though Mr. Rankin had assoclated the car since they first established Asheville, and was furnished and extra his with on trolley car. Throughout his life up to the time he was he walked and from his work each day. Noted For His Calm Manner bank He was one time treasurer of the the city and at served as illustrates the well the perfect of his nature, and the confidence which the people of Asheville had in him was recalled Edgar today. After the failure of the First National Bank July other Asheville suit. and the Battery Park Bank was One morning run on the bank began. Mr. was of the in Tate Springs. Other officers city, and employes all they could to restore and to pay the money demanded by rampant deposipossible. recalled the slow calm displayed by Capt. who, cashed of the checks thrust him pennies, and counted each of them Mr. summoned by other officers. on the day of still preserved the minds of many Asheville persons, the picture him as stepped slowly and unruffied his carand walked to the bank door He as if he were going to his every day work, residents say. slowly opened the door and entered. His presence inspired all the confidence necessary. One by one the who had lost faith the depositors became ashamed Battery turned to go about and The bank saved, their business. the one in Asheville and was only that survived the panic. Born In Tennessee Rankin born in Cocke April William and Elizabeth son (Roadman) Rankin. The family movto Asheville the next ed and The father Asheville which he Civil War. The son the time county was and reared in James Eugene his father Rankin the firm for business and operated 20 years. soldier in the ConfederHe was captain and was ate Army serving captured by Union troops at Frank After the was achievements. He was about his rarely spoke of the of his days the civil strife. Mr. Rankin On October Miss Fannie Cocke, married William daughter Cocke, of Asheville. Mrs. Rankin died four years ago by ClarHe his fathence Rankin, who of the Battery Park er cashier Bank and Trust comCentral president of Arthur National Bank: William American James G. RanRankin kin. who of is in the business: R. brick manufacturer, Statesville, and Mrs. Grace of Asheville. Rankin