17966. Knoxville Bank (Knoxville, TN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
September 1, 1878*
Location
Knoxville, Tennessee (35.961, -83.921)

Metadata

Model
gpt-5-mini
Short Digest
127ff69a44861d62

Response Measures

None

Description

Article (Bristol News, 1878-09-17) reports the Knoxville Bank (proprietor Jno. S. VanGilder) failed and made assignments for the benefit of their creditors with liabilities ~$71,000 and assets ~$60,000 — indicating a suspension/closure and assignment (receiver-equivalent). Cause given as general stringency in financial affairs and depreciation of real estate (classified here as macro/systemic stress). A second article (1893) mentions a Knoxville bank whose suspension affected another Virginia bank, but it is unclear which Knoxville institution that refers to and likely a different episode; I therefore base the classification on the 1878 article. OCR corrections: Jno. S. VanGilder interpreted as John S. VanGilder; Stanb corrected to Staub in context. Dates are taken from newspaper publication when event date not specific.

Events (2)
1. September 1, 1878* Receivership
Newspaper Excerpt
Both have made assignments for the benefit of their creditors. ... The Bank ... liabilities about $71,000, and the available assets of the latter being $60,000, of which $8,000 is cash. Mr. Vangilder was sole stockholder of the Bank.
Source
newspapers
2. September 1, 1878* Suspension
Cause
Macro News
Cause Details
Failure attributed to stringency in financial affairs and depreciation of real estate leading to insolvency/assignment.
Newspaper Excerpt
the public were startled with the news that Ex_ Mayor Peter Staub, proprietor of the Opera House, and also the Knoxville Bank. which means that Jno. S. VanGilder, had failed. Both have made assignments for the benefit of their creditors.
Source
newspapers

Newspaper Articles (2)
1. September 17, 1878 Bristol News Bristol, VA
Article from Bristol News, September 17, 1878

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Article Text

Hon. Fernando Wood gives it as his opinion that we are on the eve of a tremendous reaction in trade, and that the greatest prosperity the Amer ican people have known is awaiting them. The above is from the Knoxville TRIBUNE of last Friday, and in the same issue of that paper the public were startled with the news that Ex_ Mayor Peter Staub, proprietor of the Opera House, and also the Knoxville Bank. which means thatJno. S. VanGilder, had failed. Both have made assignments for the benefit of their creditors. It seems that Stanb's li abilities are about $82 000. and those of the Bank about $71,000. the available assetts of the latter being $60.000, of which $8,000 is cash. Mr. Vangilder was sole stockholder of the Bank. The cause assigned is the stringency in financial affairs and the depreciation of real estate

2. August 17, 1893 The Big Stone Gap Post Big Stone Gap, VA
Article from The Big Stone Gap Post, August 17, 1893

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Article Text

Powell's Valley Bank Suspends. The Powell's Valley Bank, Jonesville, Va., suspended last Monday, with reported assets of $54,000 and $36,000 liabilities. The POST ventures the assertion that no depositor will lose a dollar by this suspension. Judge H. J. Morgan, president, is one among the most careful business men in the state of Virgidta, and is the very soul of honor. The suspension of a Knoxville bank, in which the Jonesville bank had about $18,000 to its credit, was the cause of the trouble.