Article Text
DRESDEN BANK CLOSES DOORS Rumor Blamed for Secret Run on Institution- H. Moran President. the of arrival of alleged started caused defor the bank the distrust bank the by
17902. Dresden Bank (Dresden, TN)
Bank Information
- Episode Type
- Run → Suspension → Closure
- Bank Type
- state
- Start Date
- July 16, 1927
- Location
- Dresden, Tennessee (36.291, -88.708)
Metadata
- Model
- gpt-5-mini
- Short Digest
bf58fcbc223b1ac1
Response Measures
None
Description
Articles (July 19–29, 1927) report a secret run that withdrew about $30,000 and the bank closed with state banking examiners requested to take charge. Reports cite excessive/frozen loans on Weakley County land as the underlying problem. Closure appears permanent (reported as a failure and examiners taking charge), so classified as run leading to suspension and closure.
Events (3)
1.
July 16, 1927
Run
- Cause
- Bank Specific Adverse Info
- Cause Details
- A secret run (precipitated by a heavy stockholder) followed reports that the bank was weakening due to frozen/excessive loans on Weakley County land.
- Newspaper Excerpt
- secret run started on the bank last Saturday by heavy stockholder precipitated its closing.
- Source
- newspapers
2.
July 19, 1927
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank closed after heavy withdrawals (about $30,000) and reported problems from frozen loans on Weakley County land; state examiners were requested to take charge afterward.
- Newspaper Excerpt
- State banking examiners today were requested to take charge of affairs of the Dresden Bank, following its close this morning.
- Source
- newspapers
3.
July 20, 1927
Other
- Newspaper Excerpt
- A notice was posted on the doors of the institution to inform the public that the assets exceeded the liabilities $35,000. Reports were made that the bank was weakening through frozen assets in the form of loans on Weakley county land.
- Source
- newspapers
Newspaper Articles (3)
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Article Text
DRESDEN BANK CLOSES WHEN RUN IS STARTED State Examiner in Charge After $30,000 Withdrawn. DRESDEN. Tenn.. July 19.-State banking examiners today were requested to take charge of affairs of the Dresden Bank, following its close this morning. secret run started on the bank last Saturday by heavy stockholder precipitated its closing. it was said. the institution to Inform the public that the assets exceeded the liabilities $35,000. Reports were made that the bank was weakening through frozen assets in the form of loans on Weak. ley County land. It is estimated that over $30,000 was withdrawn since the run started. The bank had loans and discounts aggregating $227,000 with $157.000 in deposits and a paid in capital of $35,000. James H. Moran. president of the institution. said that an accurate statement of the bank's condition could not be given until the books were audited but that he thought that the bank was still in good standing. George S. Boyd is cashier of the institution. The Dresden Bank was organized 45 years ago and has always given the best of service and reputed to be
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Article Text
Bank At Dresden, Tenn. Closes Its Doors Failure Caused By Excessive Loans on Weakley County Lands. State banking examiners last week were requested to take charge of affairs of the Dresden Bank, following its close last week. A secret run started on the bank last week by a heavy stockholder precipitated its closing, it was said. A notice was posted on the doors of the institution to inform the public that the assets exceeded the liabilities $35,000. Reports were made that the bank was weakening through frozen assets in the form of loans on Weakley county land. It is that over $30,000 was since the run started. The bank had loans and discounts aggregating with $157 in deposits and a paid in capital of $35,000. James H. Moran, president of the institution, said that an accurate statement of the bank's condition could not be given until the books were audited but that he thought that the bank was still in good standing. George S. Boyd is cashier of the institution. The Dresden Bank was organized 45 years ago and has always given the best of services and reputed to be in the best of condition. The two other banks here are in good condition.