17860. Franklin Bank (Clarksville, TN)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
private
Start Date
December 10, 1890
Location
Clarksville, Tennessee (36.530, -87.359)

Metadata

Model
gpt-5-mini
Short Digest
df88c9edd5b62f59

Response Measures

None

Description

The Franklin Bank (a private bank) of Clarksville, Tenn., suspended payment on about Dec 10, 1890 after heavy losses tied to the failure of New York tobacconist Henry Seafert/Seafort. The bank was later placed in receivership (receiver appointments reported Jan 1891) and did not resume normal operations. Several articles also report a run on the Farmers & Merchants National Bank in Clarksville triggered by the Franklin failure, but the articles do not describe a discrete 'run' on Franklin itself; the primary event is suspension followed by receivership/closure. OCR variants of the tobacconist's name appear (Seafert/Seafort).

Events (2)

1. December 10, 1890 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension triggered by large losses from the failure of New York tobacconist Henry Seafert/Seafort, with whom the bank had extended large credit.
Newspaper Excerpt
The Franklin bank of this city suspended pay ment this morning. The failure was caused by the recent failure of Henry Seafert, of New York, a large tobacconist, with whom the Franklin bank had done a large credit business.
Source
newspapers
2. January 18, 1891 Receivership
Newspaper Excerpt
By common consent and agreement on the part of creditors Saturday H. C. Merritt was associated with R. H. Poindexter as receiver to assist in winding up the affairs of Franklin Bank.
Source
newspapers

Newspaper Articles (20)

Article from The Portland Daily Press, December 11, 1890

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Business Troubles. N. L. Avery and Raphael Semmes, dolug business as N. L Avery & Co., at a number of places in Arkansas, have assigned. Liabilities $60,000; nominal assests, $60,000. Hamilton & Bishop, stock brokers, New York, have assigned. Liabilities $75,000. The Franklin bank, a private concern, a Clarksville, Tenn., has suspended as the result of the failure of Seafort, a New York tobacconist. Kendrick, Pitts & Co., tobacco. dealers, who had business with the bank were foread to assign. Liabilities $41,000.


Article from The Morning News, December 11, 1890

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CRASHES AT OL A RKES VILLE. A Bank and a Tobacco Firm Forced to Suspend. NASHVILLE, TENN., Dec. 10.-A special from Clarksville, Tenn., says: "The Franklin bank of this city suspended pay ment this morning. The failure was caused by the recent failure of Henry Seafert, of New York, a large tobacconist, with whom the Franklin bank had done a large credit business, The Franklin bank is a private bank, with a capital stock of $50,000. The assets and liabilities of the bank are not known as yet. "Kondick, Pet'us & Co., a large tobacco firm, made an assignment to-day. The suspension of the bank, in which the firm had a large deposit, and the stringency of the money market made it impossible for the firm to meet their obligations. Ia order to protect all their creditors alike, they assigned. The liabilities are $41,000. A statement of their assets has not been made. "The liabilities of the Franklin bank amount to over $200,000, and the assets exceed the liabilities by about $50,000. "The liabilities of Kondick, Pettus & Co. are over $400,000. The nominal assets 0Xceed this amount. "A run on the Farmers' and Merchants' National Bank followed, and the doors were closed. This was caused by the other failures, but that institntion will probably resume business in a day or two."


Article from The Seattle Post-Intelligencer, December 11, 1890

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CAPITAL AND LABOR. Financial Troubles Lead to Failures and Strikes. PANIC IN A TENNESSEE TOWN. Its Leading Business Men Insolvent-More Eight-Hour Demands to Be Enforced Next Spring. CITY OF MEXICO, Dec. 10.-The Commercial telegraph line closed its doors yesterday at Vera Cruz. It is reported to be bankrupt. It is rumored that the government will take up the line. DENVER, Dec. 10.-The grocery and importing house of John H. Carleton has been closed on attachments aggregating $24,000. The liabilities are $244,000; assets unknown. NASHVILLE, Dec. 10.-A special from Clarksville, Tenn., says: The Franklin bank, of this city, suspended this morning. The failure was caused by the recent failure of Henry Seafort, of New York, with whom the bank had been doing much credit business. The liabilities amount to over $200,000; assets, $250,000. The prospects for a settlement are discouraging. Kendrick, Pettus & Co., a large tobacco firm, also assigned today. The suspension of the bank and stringency of the money market made it impossible for the Lrm to meet its obligations. The liabilities are over $400,000, and the nominal assets exceed this amount. A run on the Farmers' and Merchants' bank followed, and the doors were closed. This was caused by the other failures, but that institution will probably resurue in a day or two. Business circles are greatly excited. CHICAGO, Dec. 10.-The assignee of the Chicago Safe and Lock Company, in which the missing millionaire, B. H. Campbell, held the chief interest, uled an inventory today, which was a great surprise. At the time of the failure it was announced that the assets would amount to $700,000. An inventory shows their total to beonly $127,000. New YORK, Dec. 10.-The suspension of Hamilton & Bishop was unnounced on the stock exchange this morning. Hamilton & Bishop are bankers and brokers. They made an assignment with $37,000 preferences. The failure is considered unimportant. ARKANSAS CITY, Kan / Dec. 10.-It is said that the American bank, which failed yesterday, will not resume. About $190,000 is due the depositors. It is understood that the federal authorities will take charge.


Article from Fort Worth Daily Gazette, December 11, 1890

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BUSINESS. ATTACHMENTS AT DECATUR. Special to the Gazette. DECATUR, TEX., Dec. 10.-The Schwab clothing company of St. Louis attached the C. C. Jones stock of dry goods for $2353, and Naumburg, Kraus, Lauer & Co. of New York for $3120.47. WILL RESUME BUSINESS. Special to the Gazette. TEXARKANA, TEX., Dec. 10. - The stockholders and officers of the First National bank held a meeting last night, which lasted until 12 o'clock. It was the sense of the meeting to open up business again, and depositors could call. and get their money or let it remain in the bank, as they saw flt. The bank will be doubly strong should it resume business as we learn it can secure all the money that is needed to place it upon its former financial footing. We have talked to several connected with the bank, and they expressed a firm belief that the First national bank would again resume business, and that very soon. TWO FAILURES AT CLARKSVILLE, TENN. CLARKSVILLE, TENN., Dec. 10.-The Franklin bank of this city was suspended this morning. It is a private bank, capital stock $50,000. Assets and liabilities unknown. Kendrick, Pettus & Co., a large tobacco firm, made an assignment to-day. Their liabilities are $41,000, statement of assets not yet been made. CLOSED ON ATTACHMENT. DENVER, CoL., Dec. 10.-The grocery and importing house of John H. Carleton was last evening closed on attachments. The liabilities are $24,000; assets unknown.


Article from Evening Star, December 11, 1890

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Tennessee Banks Suspend. The suspension of the Franklin Bank : of Clarksville, Tenn., yesterday was followed by the assignment of Kendrick, Pettus & Co., tobacco dealers. Two or three hours later the Farmers' and Merchants' National Bank suspended payment. The Franklin Bank was a private institution, with a capital stock of $52,000. Kendrick, Pettus & Co.'s liabilities are $410,000. Their assets are not known.


Article from The Salt Lake Herald, December 11, 1890

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BRIEF TELEGRAMS. Henry Villard says the flurry in Wall street has not affected his interests. George Martin, the murderer of William Crouch was hanged yesterday at Meridian, Miss. A special from Clarkeville, Tenn., says the Franklin bank of that city suspended yesterday morning. The superintendent of the Cincinnati zoological gardens succeeded in killing the vicious elephant, Chief. Twenty-four shots were fired into him. The total population of the country, including Indians, etc., will reach 63,000,000. The population of Alaska Special Agent Petroff estimates at 38,000. The grocery and importing house of John H. Carleton, Denver, has been closed on attachments aggregating $24,000. Liabilities, $244,000: assets, unknown. Mr. Pennington, president of the Monnt Carmel, III., Aeronautic Navigation company, says the first of the air ships will be completed within three weeks. Three boys, Fred Case, Leslie Case and Floyd Archer while playing on the ice on Delaware river, near Valley Falls, Kas., broke through and were drowned. The Peninsula and Oriental steamer Nepaul ran aground last night on Plymouth breakwater in a dense fog. The passengers were all removed safely. The Ogden strike is still on. The officials of the Union Pacific are doing the switching. Yesterday some of the strikers attacked Chief Yardmaster Nickerson, seriously injuring him. A dispatch from Fort Reno, I. T., says: Sensational reports about a threatened outbreak of Cheyenne and Arapahoe Indians on the western border of Oklahoma are without foundation. Representatives of the barb wire manufacturers of the country, who have been in ession several days in Chicago, adjourned


Article from The Morning News, December 12, 1890

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A TOBACCON Sr ASSIGNS. His Liabilities $250,000, But His Assets Equal to Them. NEW YORK, Dec. 11,-Henry Siebert, a tobacco commission merchant at Nos, 76 and 78 Broad street, has suspended. Mr. Siebert did a large business, handling western tobacco on commission chiefly, and has for many years received large consignments of tobacco from Clarksville. His liabilities are estimated at $250,000. It is thought be has enough assets to pay in full. AN ASSIGNMENT AT CLARKESVILLE. NASHVILLE, TENN., Dec. 11.-R. H. Walker & Co., tobacconists at Clarksville, Tenn., assigned to-day. Their liabilities are $40,000 and their assets $53,000. J. C. Hambaugh, a member of the firm, made a personal assignment. The firm was involved by the failure of the Franklin Bank.


Article from Daily Yellowstone Journal, December 12, 1890

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Nubs of News, The American bank will not resume business. These are about $190,000 due depositors. The Western Union directors declared a quarterly dividend of 1} per cent Wednesday. Freedom of the city of Edinburgh, which was recently presented to Parnell. hes been withdrawn. Bullion to the amount of ยฃ350,000 was withdrawn from the Bank of England Wednesday for shipment to America. Two Hotchkiss machine guns with ammunition were shipped to Fort Mead, 8. D, from Fort Monroe, Va., Wednesday. The entire force of Clark's thread mills in Newark, N. J., and Kearney, struck Wednesday. Over 3,000 men and girls are out. The Franklin bank of Clarkeville, Tenn., suspended payment Wednesday. Liabilities $200,000, and the assetts excect the liabilities by about $50,000. In the case of the government against Slavin and McAuliffe, charged with a breach of the peace 14 engaging in a prize fight, a verdict of not guilty was returned by consent of the prose= cution, and the prisoners were released.


Article from Santa Fe Daily New Mexican, December 13, 1890

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stock. It has been opposing him. It will appear as a Parnell organ. News bas reached Philadelphia of the loss of the steamer Westburne, with twenty-one of her crew of twenty-five, in the Black Sea November 24. In a street fight at Paul's Valley, I. T., over a woman, Senator Sam Paul, of the Chickasaw Nation, shot his sun Joe. A call has been issued by the Kansas Farmers' Alilance for a convention to meet at Topeka to consider the senatorial situation. Mrs. Dacey, a plucky Wichita woman. made a professional gambler refund, at the pistol's month, $560, out of which he had fleeced her husband. The Franklin Bank at Clarksville, Tenn., failed with liabilities of $200.000. This precipitated the $400,000, failure of a tobacco house and a run on another bank. Mrs. Robt. Champman, wife of a wellknown merchant. started from her home in W chita to visit relatives at Fort Worth. but did not go there Her departure was taken one day after that of a prominent real estate man.


Article from The Port Gibson Reveille, December 17, 1890

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Clarksville, Tenn., thrown into great excitement Wednesday by the failure of the Franklin bank, and Kendrick, Pettus & Co., wholesale tobacco dealers. Run upon Farmers and Merchants bank ensued, and after paying out over $60,000, that house also closed its doors.


Article from The Iowa Plain Dealer, December 18, 1890

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tcn. were run over and killed by a train at Minneapelis, Minn. FIRE destroyed Kittle & Co.'s linseed oil works at San Francisco, causing a loss of $200,000. IN session at New Orleans the National Board of Trade passed resolutionsin favor of reciprocal trade regulations; of revision of the National banking laws; of a postal telegraph and penny postage on local delivery letters, and in favor of a unification of the monetary systems of the leading commercial nations. AT Clarksville, Tenn.. the Franklin Bank failed for $200,000; assets, $250,000. Q. T. ARCHER'S three sons, aged 16, 13 and 9 years respectively, were drowned in the Delaware river at Valley Falls, Kan., while crossing on the ice. IN the jail yard at Meridian, Miss., George Martin, the murderer of William Crouch. was executed. LOUIS SCOTT shot his wife and killed himself at Kaiamazoo, Mich. Domestic trouble was the cause. FLAMES at Sandusky, O., destroyed a grain elevator and 3,000,000 feet of lumber. Total loss, $100,000. AN unknown man at Tennyson, Ind., just before his death made the statement that he was the murderer of John R. Bilderbach near Fort Branch, Ind., twenty years ago, for which crime Thomas Camp was hanged. Camp asserted his innocence on the scaffold. CHARLEY JOPLIN shot and killed at Jenny Lind Ark., John Miller, Miller's wife and grown daughter, Dr. Stewart and a man whose name was not learned, five persons in all. Afterward he killed himself. JOHN L. M. IRBY, the Farmers' Alliance candidate, was elected United States Senator by the South Carolina Legislature. This retires Senator Wade Hampton, who has represented the State in the National Senate for three terms. AT Pine Ridge Agency. S. D., reports were received on the 11th that the ho3tile Indians had been fighting among themselves in the Bad Lands. The fight was for the leadership between Two Strike and Short Bull. and the result was from twenty to fifty dead Indians.


Article from River Falls Journal, December 18, 1890

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WEST AND SOUTH. THE Legislature passed over the veto of Governor Steele the bill locating the capital of Oklahoma at Kingfisher. MR. AND MRS. E. T. TODD. of Sioux City, la., and their daughter, Mrs. Slayten, were run over and killed by a train at Minneapolis, Minn. FIRE destroyed Kittle & Co.'s linseed ol works at San Francisco, causing a loss of $200,000. IN session at New Orleans the National Board of Trade passed resolutionsin favor of reciprocal trade regulations; of revision of the National banking laws; of a postal telegraph and penny postage on local delivery letters, and in favor of a unification of the monetary systems of the leading commercial nations. AT Clarksville, Tenn., the Franklin Bank failed for $200,000; assets, $250,000. Q. T. ARCHER'S three sons, aged 16, 13 and 9 years respectively, were drowned in the Delaware river at Valley Falls, Kan., while crossing on the ice. IN the jail yard at Meridian, Miss., George Martin, the murderer of William Crouch. was executed. Louis SCOTT shot his wife and killed himself at Kalamazoo, Mich. Domestic trouble was the cause. FLAMES at Sandusky, O., destroyed a grain elevator and 3,000,000 feet of lumber. Total loss, $100,000. AN unknown man at Tennyson, Ind., just before his death made the statement that be was the murderer of John R. Bilderbach* near Fort Branch, Ind., twenty years ago, for which crime Thomas Camp was hanged. Camp asserted his innocence on the scaffold. CHARLEY JOPLIN shot and killed at Jenny Lind Ark., John Miller, Miller's wife and grown daughter, Dr. Stewart and a man whose name was not learned, five persons in all. Afterward he killed himself. JOHN L M. IRBY. the Farmers' Alliance candidate, was elected United States Senator by the South Carolina Legislature. This retires Senator Wade Hampton, who has represented the State in the National Senate for three terms. AT Pine Ridge Agency, S. D., reports were received on the 11th that the hostile Indians had been fighting among themselves in the Bad Lands. The fight was for the leadership between Two Strike and Short Bull, and the result was from twenty to fifty dead Indians. A FIGHT took place on the 12th four miles north of Pine Ridge agency in


Article from The Abbeville Press and Banner, December 24, 1890

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LATER NEWS. THIRTEEN patients were inoculated at Mount Sinai and St. Luke's Hospitals in New York City with Dr. Koch's lymph for the cure of consumption. LIEUTENANT-COLONEL ANDREW H. YOUNG, Assistant Quartermaster in the United States army, died a few days ago at Dover, N.H. THE mills of the Clark Thread Company in Kearney and Newark, N. J., closed down and almost three thousand people were thrown out of employment. THE United States cruiser Newark failed to complete her trial trip off Delaware Breakwater, owing to the breaking of two bolts in the radial gear of the low pressure cylinder. AN epidemic of scarlet fever is raging in Cabell County, W. Va. THE Crow Indians, in full council, have ;old to the Government their lands west of the divide on Price's Creek, Montana, and the adjoining strip fifteen miles wide. Consideration, $546,000. Number ot acres purchased, 1,850,000. THE Texas cotton crop. based on returns from 144 cotton-growing counties, will be 1,818,000 bales, against 1,704,000 bales last year. EASTLAND, FOWLER & Co., wholesale crockery and glassware dealers, of San Francisco, Cal., have failed. Liabilities, $192,000; assets, $53,600. GEORGE MARTIN, the colored murderer of William Crouch, was executed at Meridian, Miss. THE Franklin Bank at Clarksville, Tenn., suspended payment. Two hours later the Farmers' and Merchants' Bank, of the same place, closed its doors. These failures caused Kendrick, Pettus & Co., tobacco dealers, of Clarksville, to make an assignment. SECRETARY WINDOM announced that no more four per cent. Government bonds would be accepted. A CONFERENCE of Republican Senators appointed a committee on financial legislation. THE Italian Parliament was opened with a speech by King Humbert. MARSHAL F. GILLOW, alias A. C. Stewart, who was wanted by the Boston police for forgery and other crimes, committed suicide at Hubbard's Cove, Nova Scotia, and his wife also took her life at the same time. MR.. PARNELL received an enthusiastic welcome to Dublin, Ireland; he seized the office of United Ireland and ejected the acting editor; the paper will hereafter support Parnell; the anti-Parnell manifesto was made public. THE man who shot and killed a bride and bridegroom at Clermont-Ferrand, France, just after the wedding procession had left the church, subsequently committed suicide. The murderer proves to have been a rejected suitor for the lady's hand.


Article from Huntsville Gazette, December 27, 1890

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F ilures at Clarksville, Tenn. The Franklin Bank at Clarksville, Tenn., failed with liabilities of $200,000. This precipitated the $400,000 failure of a tobacco house and a run on another bank.


Article from Fisherman & Farmer, January 9, 1891

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South and West. AN epidemic of scarlet fever is raging in Cabell County, W. Va. THE Crow Indians, in full council, have sold' to the Government their lands west of the divide on Price's Creek, Montana, and the adjoining strip fifteen miles wide. Consideration. $546,000. Number ot acres purchased, 1,850,000. THE Texas cotton crop. based on returns from 144 cotton-growing counties, will be 1,818,000 bales, against 1,704,000 bales last year. EASTLAND, FOWLER & Co., wholesale crockery and glassware dealers, of San Francisco, Cal., have failed. Liabilities, $192,000; assets, $53,600. GEORGE MARTIN, the colored murderer of William Crouch, was executed at Meridian, Miss. THE Franklin Bank at Clarksville, Tenn., suspended payment. Two hours later the Farmers' and Merchants' Bank. of the same place, closed its doors. These failures caused Kendrick, Pettus & Co., tobacco dealers, of Clarksville, to make an assignment. THE will of the late Horace Kelley, of Cleveland, Ohio, gives $500,000 for the foundation of a National Art Gallery in that city. THE Territorial Council of Oklahoma passed the corrected House bill, embodying some of Governor Steele's recommendations, locating the temporary capital at Kingfis' Governor Steele promptly approved the bill. THE hostile Indians have been fighting among themselves in the Bad Lands or South Dakota. The fight was for leadership between Two Strike and Short Bull, each wishing to control the united bands. The fight was bitterly contested for several hours, and many were killed. WHITE CAPS visited the house of Thomas Burgess, a farmer, living in Meade County, Ky., to whip him. He shot and killed one of the raiders and wounded two others. With his wife Burgess fled to the woods through a rear door. CURTIS G. STODDART, the banker, has been arrested at Chicago, Ill., on a charge of embezzling almost $3,000,000. The funds it is alleged he has embezzled are stock and bondsof the Kansas, Arkansas & New Orleans Railroad DURING a terrific wind storm at Elliott. North Dakota, a spark from a locomotive blew into the North Dakota elevator and the structure was burned down, together with 50,000 bushels of wheat. LOUIS SCOTT shot his wife in a quarrel at Kalamazoo, Mich., and then killed himself. They quarreled some weeks ago and she left him, going to work as a domestic. A WARRANT has been issued at Columbia, S. C., for the arrest of Attorney-General Page, on the charge of political intimidation in discharging from the enrolling department T. F. Butler, a nephew of Senator Butler, without adequate cause. Mr. Butler was a candidate for the Legislature on the Haskell ticket, and this incurred Page's displeasure. JUDGE T. A. S. MITCHELL, of the Supreme Court of Indiana, died suddenly at his home, in Goshen. Judge Mitchell was the only Democratic member of the bench, and was re-elected for a second term at the recent election. He was about fifty years old. THE town of Waterford, Ind., has been almost entirely wiped out by fire. Two children, sons of Mr. and Mrs. Louis Holnagel. residing two miles east of Saginaw, Mich., were burned to death in their home, which took fire during the absence of Mrs. Holnagel. JOHN BLYEW was given a life sentence at Vanceburg, Ky., for the murder of four colored people in August, 1868. He killed a whole family except two little children. The case has been fought twenty-two years and cost the State $25,000. IN a collision between freight trains near Cincinnati, Ohio, Brakeman J. G. Stephens was killed and Engineer Hall fatally injured. The accident was caused by the young lady operator at Pine Knot not giving proper orders. THE bodies of James Lane and George Serker were found lying in a road near City Court House, W. Va. They are supposed to have frozen to death.


Article from Daily Tobacco Leaf-Chronicle, January 19, 1891

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The Franklin Bank. By common consent and agree. ment on the part of creditors Saturday H. C. Merritt was associated with R. H. Poindexter as receiver to assist in winding up the affairs of Franklin Bank. Mr. Merritt is a good lawyer and a safe counsellor, having considerable experience in such matters, and will render Mr. Poindexter valuable assistance in the complicated affairs of the bank.


Article from Daily Tobacco Leaf-Chronicle, January 20, 1891

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Bank Meetings To-Day. There are a good many people in town to-day attending the bank meetings. The stockholders of the Farmers & Merchants bank met at 11 o'clock and adjourned to 1:30 p m. without transacting any business It is not likely that any definite action will be decided upon until a late hour and perhaps not before to morrow. The creditors of the Franklin Bank were here from various parts of the country. The appointment of H. C. Merritt as receiver in connection with R. H. Poindexter, rather forestalled the action indicated by the publishe call for a meeting of the ereditors to-day. However it was agreed among interested parties on the streets that they would hold a meeting at the court house at 12 o'clock looking to some other action in connection with the affairs of the bank.


Article from Daily Tobacco Leaf-Chronicle, January 21, 1891

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# The Bank Meetings. The stockholders of the Farmers & Merchants bank met yesterday evening. After some discussion of matters, it was decided that the condition of the bank was such as to enable them to resume business by paying in 25 per cent. additional on the stock, and application has been made to the comptroller for permission to make the assessment and re-open. Another and more serious trouble, however, presents itself, and that is the attitude of the depositors. Some agreement must be made with this class before anything more can be done, otherwise the bank would be defeated. There is a great deal to be done preparatory to resumption and it will require some time yet to settle matters. The meeting of the Franklin bank creditors amounted to nothing. The appointment of Mr. Merritt, assistant receiver as the representative of creditors in connection with Mr. Poindexter, seemed to give satisfaction. There were 25 or 30 present and they only appointed a committee to look after minor affairs.


Article from Daily Tobacco Leaf-Chronicle, December 10, 1891

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To-day is the anniversary of the Franklin Bank failure and the general panic that made Clarksville look so blue one year ago.


Article from The Columbia Herald, January 22, 1892

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A SENSATION AT CLARKSVILLE. I Men Connected With the Defunct Bank Charged With Larceny. CLARKSVILLE, Jan. 18.-A real sensation Was caused to-day when it was made public that the grand jury had found true-bills against three of the men connected with the defunct Franklin Bank. Indictments were returned against P. C. Hambaugh, President; R H. Poindexter, Cashier, and George S. Irwin, one of the Directors. There were two counts in the indictment, grand larceny and embezzlement. In the Criminal Court this afternoon they were placed under a bond of $1,000 each and the cases set for trial at the April term of court. P. C. Hambaugh is a wealthy tobacco dealer, & very old man, and about a year ago he had the misfortune of losing his eyesight, this affliction overtaking him soon after the failure of the bank. R. H. Poindexter is possibly not over 26 years of age, and up to the time of the suspension of the bank was one of the youngest cashiers in Tennessee. George S. Irwin left here just after the crash, it is stated, on account of threats and prejudices of tobacco planters and others who lost money in the firm of Kendrick, Pettus & Co., of which he was a member, blameing him for the failure. He only came back here yesterday to answer the serious charges against him, having for some time been connected with the firm of Allen, Lane & Co., cotton factors, of St. Louis. The failure of the Franklin Bank, which was a private institution, occurred last December a year ago, in which nearly $1,000,000 was involved, also causing the failure of three tobacco warehouse firms, viz.: Kendrick, Pettus & Co., for about $40,000, R. H. Walker & Co., for a large amount and Hancock, Hallums & Co. for more than $100,000, forcing the Farmers' & Merchants' National Bank to suspend. But this bank has broken the national bank record, having resumed business for some time. It is said that the main features connected with the Franklin failure have not come to light as yet and both the developments and the result of the trial of the officials will be awaited by the public with great interest. Nearly all the prominent law yers of the Clarksville bar are to be engaged on the side of the defense. A number of the bank's depositors are the prosecutors.