17910. Lincoln Savings Bank (Fayetteville, TN)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
savings bank
Start Date
September 8, 1884
Location
Fayetteville, Tennessee (35.152, -86.571)

Metadata

Model
gpt-5-mini
Short Digest
71bf27e8bf1212d3

Response Measures

None

Description

Multiple contemporaneous newspapers (Sept 8, 1884) report the Lincoln Savings Bank at Fayetteville closed its doors with a placard citing stringency of the money market and inability to collect forcing suspension. A May 1885 local paper reports the bank has resumed a regular banking business via an agreement between stockholders and depositors. No run or depositor crowd is described in the articles, so this is a suspension followed by reopening.

Events (2)
1. September 8, 1884 Suspension
Cause
Macro News
Cause Details
Placard cited 'stringency of the money market and inability to collect' as forcing the suspension; assets tied in real estate and illiquid loans.
Newspaper Excerpt
A placard on the door, signed by President James, explains that the stringency of the money market and inability to collect forced the suspension.
Source
newspapers
2. May 8, 1885 Reopening
Newspaper Excerpt
The Lincoln Savings Bank, Fayetteville, has resumed a regular bankin[g] business, an agreement has been entered between stockholders and depositors by which this is effected.
Source
newspapers

Newspaper Articles (11)
1. September 9, 1884 Savannah Morning News Savannah, GA
Article from Savannah Morning News, September 9, 1884

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Article Text

A TENNESSEE BANK CLOSES. Inability to Collect Alleged as the Cause of the Suspension. NASHVILLE, Sept. 8. - The Lincoln Savings Bank at Fayetteville, in this State, closed its doors this morning. A placard OR the door, signed by President James, ains that the stringency of the exp. market, and the inability money to collect, 10. erced the suspension. The will be paid in full, depositors, it is sa. rhaps get 50 per and stockholders will p vaiously mancent. if the assets are jua. aged. The deposits are about $100,000 and the assets $200,000. It is report that a meeting of the stockholders will take place next Saturday, when more will be known. In the excitement which prevails it is impossible to get exact figures. The bank has a good share of its money invested in real estate, on which cash cannot be readily raised. The paid in capital ot the bank was $100,000.

2. September 9, 1884 The Dallas Daily Herald Dallas, TX
Article from The Dallas Daily Herald, September 9, 1884

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Article Text

Another Bank Suspension. NASHVILLE, TENN., Sept. 8.-The Lincoln Savings bank, of Fayetteville, Tennessee, closed its doors this morning. A placard on the door, signed by President James, explains that the stringency of the money market and inability to collect forced the suspension. The depositors, it is said, will be paid in rull and the stockholders will perhaps get 50 per cent. Deposits are about $100,000 and the assets $200,000. It is reported that a meeting of the stockholders is called for Saturday, when more will be known. In the exeitement that prevails it is impossible to get the exact figures. The bank has a considerable part of its money invested in real estate, on which cash cannot readily be raised.

3. September 9, 1884 Daily Los Angeles Herald Los Angeles, CA
Article from Daily Los Angeles Herald, September 9, 1884

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Article Text

A Tennessee Bank Failure. NASHVILLE, Sept. 8.-The Lincoln Savings Bank at Fayetteville, Tenn., closed its doors this morning. A placard on the door signed by President Ja mes ex plains that the stringency of the money market and inability to collect forced the suspension. Depositors, it is said, will be paid in full, and stockholders will, perhaps get 50 per cent. or more, if the assets are judisionsly managed. The deposits are about $100,000 and assets $200,000. It is reported that a meeting of stockholders has been called for next Saturday, when more will be known. In the excitement that prevails it is impossible to get the exact figures. The bank has a considerable part of its money invested in real estate on which cash cannot readily be raised.

4. September 9, 1884 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, September 9, 1884

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Article Text

A FAILURE IN TENNESSEE. The Lincoln Savings Bank, of Fayetteville, Closes Its Doors. NASHVILLE, Sept. 8.-The Lincoln Savings Bank, of Fayetteville, Tenn., closed its door this morning. The placard on the door, signed by President James, explains that the stringency of the money market and inability to collect, forced a suspension. The depositors, it is said, will be paid in full, and the stockholders will perhaps get 50 per cent. or more, if the assets are judiciously managed. The deposits are about $100,000 and the assets $200,000. It is reported that a meeting of stockholders has been called for next Saturday, when more will be known. In the excitement that prevails it is impossible to get exact figures. The bank has a considerable part of its money invested in real estate on which funds cannot readily be raised.

5. September 9, 1884 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, September 9, 1884

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slipped the pistol out of his victim's belt and shot him in the back. The Washingtonians are getting their fill of negroes rapidly. NEWS OF THE DAY. The wheat crops of England, France and throughout Europe are reported to be unusually large. An American clergyman has died'in Spain of heart disease, and his effects have been burned for fear of cholera contagion. The Chinese now report that but little damage was done to their fortifications by Admiral Courbet's bombardment, and that repairs have made them as good as ever. The Czar and party arrived at Warsaw yesterday morning. Count Gourko received the Czar. The imperial party subsequently reviewed a parade of 50,000 troops. They were received everywhere with manifestations of cordiality. The city was illuminated at night. The will of Senator Anthony, of Rhode Island, leaves legacies of about $200,000. The bulk of his fortune goes to his sister and relatives. He leaves $25,000 to Brown University and the Rhode Island Hospital and $30,000 in trust for Miss E. D. Potter, after her death togo to the city of Providence for a fountain. Secretary Morrison, of the Temperance Alliance, reports returns of the vote in Maine on the prohibition amendment received from two hundred towns giving "yes" 74,500; "no," 20,595, showing it was carried by 53,905 majority, at least. Probably it will exceed 60,000. But Blaine dodged the vote. The Vatican has forwarded to the French government a note upon divorce, in which it declares that divorce is at war and contrary to the doctrines of the Catholic Church, and maintains that it has the right to prohibit divorce to the adherents of the church. An encyclical is about to be issued upon the subject, addressed to French Catholics. The Lincoln Savings Bank at Fayetteville Tenn., closed its doors yesterday morning " A placard on the door, signed by President James, explains that the stringency of the money market and inability to collect forced the suspension. The depositors, it is said, will be paid in full, and the stockholders will perhaps get 50 per cent. or more, if the assets are judiciously managed. The deposits are about $100,000 and the assets $200,000. The returns from Maine this morning indicate a republican plurality of over 13,000. The republicans claim 16,000 plurality for Robie. The democrats concede 12,000. All the republican Congressmen are reelected, and tho State Legislature is strongly republican. It is thought probable that when the returns are all in and can be intelligently scanned there will not be SO much cause for republican rejoicing. The majority, if it is all that is claimed, will not be much greater if any than in the Tilden campaign of 1876, when the democrats made as active a canvass as the republicans. Mr. Blaine voted just before the polls in his district closed. His action in not voting on the prohibition amendment was criticised by some temperance people, but the excitement was allayed after he explained his action in his speech at night.

6. September 9, 1884 The Daily Cairo Bulletin Cairo, IL
Article from The Daily Cairo Bulletin, September 9, 1884

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Article Text

Another Bank Suspended. NASHVILLE, TENN., September 8.The doors of the Lincoln Savings Bank at Fayetteville were closed this morning. The assets are $200,000 and the deposits $100,000.

7. September 10, 1884 The Semi-Weekly Miner Butte, MT
Article from The Semi-Weekly Miner, September 10, 1884

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Article Text

DAY DISPATCHES Another Bank Suspension. NASHVILLE, Sept. 8.-The Lincoln savings bank at Fayetteville, Tenn., closed its doors this morning and a placard on the door, signed by President James, explains that the stringency of the money market and inability to collect have forced a suspension. The depositors, it is said, will be paid in full, and the stockholders will perhaps get 50 per cent. or more, if the assets are judiciously managed. The deposits are about $100,000 and assets $200,000. It is reported that a meeting of the stockholders has been called for next Saturday, when more will be made known to parties interested. In the excitement that prevails it IS impossible to get at the exact figures; the bank has a considerable part of its money invested in real estate on which cash cannot readily be raised.

8. September 10, 1884 The Home Journal Winchester, TN
Article from The Home Journal, September 10, 1884

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The Lincoln Savings Bank, of Fayat eville, has suspended payment.

9. September 13, 1884 The Caldwell Tribune Caldwell, ID
Article from The Caldwell Tribune, September 13, 1884

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IDAHO : : CALDWELL, BRIEFLY TOLD. A fire in Cleveland on Sunday last destroyed $2,500,000 worth of property. The principal business block at Arkansas City burned. Loss, $60,000. Forest fires are raging in Michigan and destroying vast tracts of timber. The Lincoln savings bank at Fayetteville, Tenn., closed its doors on the 8th. The white house, in the absence of the president, is being put in complete order. Prediction is made that the election in Kentucky in November next will be a bloody affair. Gov. Cleveland attended the state fair at Elmira, and made a talk to the assembled multitude. Assistant Postmaster Horgus, of Alvin, Ill., was arrested in Chicago for rifling registered letters. The funeral of Ex-Secretary Folger took place at Geneva on the 9th, 40,000 people being present. The state veterinarian of Kansas statesthat pleuro-pneumonia exists in some portions of that state. Unless the labor troubles soon cease the Hocking Valley (Ohio) coal mines will suspend operations. Bane, Valley & Co., well known cotton factors and commission merchants at Louisville, have failed. Gov. Hamilton, of Illinois, has issued a proclamation quaranting against cattle from infected districts. Neillson has signed a contract with Mapleson to sing in England and America the coming season. James G. Blaine made an address on the 4th before the New England fair association at I Manchester, N. H. Frank Pt tterson, manager of the opera 1 house at Long Branch, is a defaulter, and the 8 police are searching for him. I t Rear Admiral Andrew Allen Harwood, U. o S. N., died at Marion, Mass., in his 82d year. o He was appointed midshipman in 1818 and reI tired in 1864. n The third annual exhibition of the national t mining exposition, under the auspices of the d Denver chamber of commerce, was formally opened on the 1st. c. The will of Senator Anthony has been filed. J It bequeaths legacies of about $200,000 to his m sister and relatives. The public bequests c. amount to $25,000. m Sioux City and vicinity was visited by a terC rible rain, wind and hail storm. Several barns of were unroofed, and other outbuildings demoln ished. The rain came down in a perfect torm rent. W Sam Jackson, who outraged and murdered th a white girl aged 13, seven years ago, and who m was recently captured, was taken from the Hamburg (Ark.) jail by a masked mob and hung to a tree. TI The warehouses of Joseph Benedict & Co., wholesale rag dealers, and Martin Bratt & Co., wholesale tea dealers, Pittsburg, burned. Loss, $40,000; partially insured. The fire was caused fo by spontaneous combustion, which ignited a of large lot of old rags. of The treasury department has received a ju letter from Dr. Hall, United States health offiof cer at London, asserting that the exportation th of rags into this country from England is th fraught with great danger. Smallpox, he says, has been for some time prevalent in pl London. in of The New York weekly bank statement is as ve follows: Loans, increase, $1,454,000; specie, decrease, $210,000; legal tender, decrease, $1,va 258,000; deposits, increase, $411,5005; circulaels tion, decrease, $80,000; reserve decrease, $1,se 591,000. The banks now hold, $30,540,000 in exW co cess of legal requirements. las The first attempt to enforce the prohibitory wi law at Dubuque, Iowa, was started a few days 18 th ago. Petitions were filed with the clerk th of the court, praying for injunctions to reco strain seventeen saloon keepers of that city tu from maintaining and continuing nuisso ances in the form of saloons. bi Ne The village trustees of Geneva, N. Y., an adopted resolutions of regret at the death and at condolence with the family of Secretary Folral ger. Public buildings and business places M will be draped in mourning for ten days. A in committee was appointed to receive and proav vide quarters for the distinguished funeral. in

10. September 18, 1884 The Sun Morris, MN
Article from The Sun, September 18, 1884

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Failures of a Week. There were 180 failures in the United States reported to Bradstreet during the week, ending 13th against 178 in the preceding week and 136, 137 and 88 in the corresponding weeks of 1883, 1882 and 1881, respectively. About 83 per cent. were those of small dealers, whose capital was less than $5,000. Among the suspensions reported were: Burger, Hulburt & Livingston, molasses and syrups, New York city; National bank of New Jersey, at New Brunswick; State bank of Fort Edward, N. Y. ; Lincoln Savings bank of Fayetteville, Tenn. ; Ray County Savings bank of Richmond, Mo.; Green Manufacturing company, print cloths, Providence: Payne, Villey & Co., cotton factors, Louisville, Ky.; Rust, Harris & Co., wholesale hardware, and F. J. Burton & Co., wholesale cigars and notions, of Denver; Stafford & Co., manufacturers of cotton yarns, at Brownsville, Mass.

11. May 8, 1885 The Columbia Herald Columbia, TN
Article from The Columbia Herald, May 8, 1885

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widow of Commodore Vanderbilt, died in New York on the 4th. The East Tennessee Farmers' Convention meets at Knoxville May 17th, 18th and 19th. The Mormons are dissatisfied with the enforcement of the law in Utah, and proposed going to Mexico, Mexico forbids polygamy, and the proposed exodus is ended. A Loiler in the Treemont Hotel Galveston Texas, exploded on the 3rd, wrecking part of the building and surrounding property and killing and wounding several people. Eight persons were burned to death in a tenement house fire in New York, on 2nd. News comes from Waverly Tenn., that on the 2nd a party of di-guised men visited the house of Conley Johnson, colored, and ordered him to open his door, he refused, and tried to escape, and was shot while running St veral negroes have been hipped in the same vicinity. This looks like Ku Klux work. J. M. Keily, of Richmond, Va., has qualified as minister to Austria and sails immediately for Europe. Chattanooga is making extens ive and grand preparations for the annual conclave of Knights Templar, which assembles in that city, May 12th. The State militia and the striking quarrymen came into collission at Lamont III., on the fourth. The troops attempted to disperse the striking quarrymen, and charged the crowd, killing two men and wounding others. More trouble is apprehended. The Supreme Court of the United States has refused a rehearing in the Virginia bond cases, recently decided. Nashville is to have a respectable depot. A company known as the Union Depot and Hotel Company has been chartered, and will erect & depot and hotel on Broad Street at once. Memphis has followed horse racing, with bicycle races. The meeting of the Mempbis Bicycle Club, ended this week. The President, vice-President and a portion of the Cabinet, were present at the celebration of the anniversary of the battle of Gettysburg. 3,700 Jerseys were sold at Auction in 1883 and 1884, at an average price of $375. William M. Merrick, a prominent lawyer of Maryland has been appointed Associate Justice of the District of Columbia; vice Andrew Wylie, resigned, Judge J. L. T. Speed was an applicant for this position. Hon. John Goode, of Virginia, has been appointed 'Solicitor General of the United States. He has served several terms in Congress. The decrease in the public debt of the United States during April, was $4,837,339,71. Dwyer Bros. gave $3,050 for a bay filly 2 years old, by Luke Blackburr of Arizona at the Franklin sale in Nashville. J. H. Livingston, Post Office inspect at Chattanooga has been removed. The Lincoln Savings Bank, Fayetteville, has resumed a regular bankin business, an agreement has been entered between stockholders and depositors by which this is effected. Gibson county has 56,000 horses, 1,mules, 16,590 cattle, 8,551 sheep 8 and 46,221 thogs, the total value of which is $1,123,010.-Gilson county Herald. 0 The Knoxville clergymen are hava a controversy with the Chronicle because it publishes a Monday edition, which controversy the clergy will out second best. Some people no discretion and waste their mergies in useless strife. le I The citizens of Haywood County have petitioned Gov. Bate to make k he consideration of pleuro pneumoone of the duties of the Legislais if called in extra session. P Perryville, Decatur county, on the 8 l'ennessee river was burned a few to lays ago, The Hotel, warehouse, and n entire town was destroyed. The fire supposed to have been the work of it incendiary T Marshall & Bruce of Nashville, have awarded the contract for the Il n State printing. n The Prince of Wales has opened The World's Exposition of Inventions, London. Jas. R. Orgood & Co., the well nown publishers of Boston, have faila ti Sir Peter Lumsden has bee re-calltl from the Aighan frontier and will eturn to England immediately. P A terrible holocaust happened in