17901. Stewart County Bank (Dover, TN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
September 9, 1903
Location
Dover, Tennessee (36.482, -87.845)

Metadata

Model
gpt-5-mini
Short Digest
0731b690b564829a

Response Measures

None

Description

Articles (Sept–Oct 1903) report the Stewart County Bank at Dover made a general assignment (suspended) with liabilities exceeding assets; later reporting places the bank in the hands of a receiver and depositors suing stockholders. No mention of a depositor run is found—this is a suspension followed by closure/receivership due to insolvency.

Events (2)
1. September 9, 1903 Suspension
Cause
Bank Specific Adverse Info
Cause Details
General assignment due to insolvency: liabilities (~$27,306) exceed assets (~$11,534) as reported in September 1903.
Newspaper Excerpt
The Stewart County bank at Dover has made a general assignment and W. W. Brandon and E. T. Peck have been appointed assignees. The liabilities are placed at $27,306.06 and the assets at $11,534.40.
Source
newspapers
2. October 16, 1903 Receivership
Newspaper Excerpt
The depositors of the defunct Stewart County Bank at Dover, which was recently placed in the hands of a receiver, have entered suit against the stockholders, directors and assignees of the bank, seeking to recover about $23,000 deposits.
Source
newspapers

Newspaper Articles (4)
1. September 10, 1903 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, September 10, 1903

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Article Text

Tennessee Bank Assigns. Nashville, Tenn., Sept. 9.-The Stewart County bank at Dover has made a general assignment and W. W. Brandon and E. T. Peck have been appointed assignees. The liabilities are placed at $27,306.06 and the assets at $11,534.40. The June statement showed the institution to be in a healthy condition and the suspension has caused surprise. The bank was chartered about ten years ago,

2. September 10, 1903 Americus Times-Recorder Americus, GA
Article from Americus Times-Recorder, September 10, 1903

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Article Text

Tennessee Bank Assigns. Nashville, Sept. 99.- The Stewart county bank at Dover has madb a general assignment and William M. Brandon and E. T. Peck have been appointed assignees. The liabilities are placed at $27,306.05, and the assets at $11,534.40. The June statement showed the institution to be in a healthy condition and the suspension a bank was has caused surprise. go, chartered about ten

3. September 17, 1903 The Bamberg Herald Bamberg, SC
Article from The Bamberg Herald, September 17, 1903

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Article Text

Tennessee Bank Suspends. The Stewart county bank at Dover. Tenn., has made a general assignment and assignees appointed. The liabilities are placed at $27,306.05 and the assets at $11,534.40.

4. October 16, 1903 The Bolivar Bulletin Bolivar, TN
Article from The Bolivar Bulletin, October 16, 1903

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Article Text

Bank Stockholders Sued. The depositors of the defunct Stewart County Bank at Dover, which was recently placed in the hands of a receiver, have entered suit against the stockholders, directors and assignees of the bank, seeking to recover about $23,000 deposits. The allegation is that the directors were guilty of negligence and the depositors seek to hold them and the stockholders individually liable for what they may have lost in the bank.