18224. Grundy County Bank (Tracy City, TN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 31, 1904
Location
Tracy City, Tennessee (35.260, -85.736)

Metadata

Model
gpt-5-mini
Short Digest
a9dfd07a2daf8f12

Response Measures

None

Description

Articles report the Grundy County Bank in Tracy City was closed at the request of its president, the sheriff physically closed it, and C. H. Garner was named receiver. The closure appears permanent (receiver appointed; bondsmen later settled with the state and state funds moved to another bank). Date of closing given as Dec. 31 in the article dated 1905-01-05, so I record 1904-12-31. Cause set to 'other' because the text merely states the president requested closure and a receiver was named; no explicit insolvency cause, run, or government-mandated action is described.

Events (3)
1. December 31, 1904 Receivership
Newspaper Excerpt
C. H. Garner has been named as receiver.
Source
newspapers
2. December 31, 1904 Suspension
Cause Details
Bank closed at the request of its president; sheriff closed the institution and a receiver was appointed.
Newspaper Excerpt
This place has been thrown into great excitement by the closing of the doors of the Grundy county bank. At the request of the president, W. N. Byers, the sheriff closed the institution. C. H. Garner has been named as receiver.
Source
newspapers
3. January 13, 1905 Other
Newspaper Excerpt
Bondsmen of the Grundy County Bank, of Tracy City, which suspended a few days ago, with $3,200 of the State's money on deposit, have settled with the State treasurer. The money was transmitted to the Bank of Winchester.
Source
newspapers

Newspaper Articles (2)
1. January 5, 1905 Sequachee Valley News Sequatchie, TN
Article from Sequachee Valley News, January 5, 1905

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Article Text

BANK IS CLOSED. Sheriff of Grundy County Takes Action At Request of President. Tracy City, Dec.-31. This place has been thrown into great excitement by the closing of the doors of the Grundy county bank. At the request of the president, W. N. Byers, the sheriff closed the institution. C. H. Garner has been named as receiver. It is not known here what the outcome will be, but it is said that the assets will more than double the liabilities. Some of the best business men in Tracy City were depositors and a gloomy feeling pervades the community. The bank was a state depository, containing $3,200 of the State's funds. The state is secured by a bond of $5,000, which has been certified as solvent by the county clerk and clerk and master. The institution was a state bank.

2. January 13, 1905 Lawrence Democrat Lawrenceburg, TN
Article from Lawrence Democrat, January 13, 1905

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Article Text

Settled With Mrs. Folk. Bondsmen of the Grundy County Bank, of Tracy City, which suspended a few days ago, with $3,200 of the State's money on deposit, have settled with the State treasurer. The money was transmitted to the Bank of Winchester.