20566. Haywood County Bank (Brownsville, TN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 1, 1901*
Location
Brownsville, Tennessee (35.588, -89.257)

Metadata

Model
gpt-5-mini
Short Digest
d8a06760

Response Measures

None

Description

Multiple articles (mid-October 1901) report the recent suspension of the Haywood County Bank at Brownsville, indictments of officers for receiving deposits while insolvent, and mention of a trustee in the assignment — indicating insolvency, assignment/receivership and permanent closure rather than a temporary run. No article describes a depositor run prior to suspension.

Events (3)
1. October 1, 1901* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was insolvent; officers later indicted for receiving deposits when they knew or had reason to know of the bank's insolvency; trustee named in assignment (indicating insolvency-driven suspension).
Newspaper Excerpt
recent suspension of the Haywood County Bank
Source
newspapers
2. October 15, 1901 Other
Newspaper Excerpt
The grand jury returned another indictment ... growing out of the recent suspension of the Haywood County Bank. The indictment is against P. B. Anderson, late president of the institution. Other indictments ... against R. H. Anderson, the cashier. (Savannah Morning News, Oct 16, 1901; Brownsville, Tenn., Oct. 15.)
Source
newspapers
3. October 18, 1901 Receivership
Newspaper Excerpt
C. C. Shaw, named as trustee in the assignment, has resigned and his successor has not been named (Columbia Herald, Oct. 18, 1901).
Source
newspapers

Newspaper Articles (6)
1. October 16, 1901 The Times Richmond, VA
Article from The Times, October 16, 1901

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Article Text

Telegraphic. Brevities. MARKEE, TEX.-Fire swept through the center of this town to-day-the loss estimated at $50,000. FRANKLIN, TENN.-The Citizens' Bank and Trust Company has closed its doors. No reason is assigned for the suspension. The last statement of the bank placed its liabilities at more than $30,000, fully covered by resources. DALLAS. TEX.-Fire at Beaumont early to-day destroyed the McFadden blocks, entailing a loss estimated at $200,000. Origin of the fire unknown. BROWNSVILLE, TENN-The grand jury to-day in the case growing out of the recent suspension of the Haywood county bank, returned an indictment against P. B. Anderson, late president of the institution. NEW ORLEANS, LA.-The steamer Elswick Grange. from Newcastle-nnTyne, reports: "Just west cif Cary's Fort Reef sighted a three-masted schooner ashore with a wrecking vessel and lighter near at Hend: could not make out has name."

2. October 16, 1901 The Savannah Morning News Savannah, GA
Article from The Savannah Morning News, October 16, 1901

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Article Text

# A Bank President Indicted. Brownsville, Tenn., Oct. 15.-The grand jury returned another indictment to-day in the case growing out of the recent suspension of the Haywood County Bank. The indictment is against P. B. Anderson, late president of the institution. Other indictments in the case were returned yesterday against R. H. Anderson, the cashier.

3. October 18, 1901 The Columbia Herald Columbia, TN
Article from The Columbia Herald, October 18, 1901

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Article Text

Five indictments have been returned by the grand jury as a result of the suspension of the Haywood County Bank at Brownsville. R. H. and D. S. Anderson, cashier and assistant cashier, respectively, are charged with receiving deposits when they knew, or had reason to know, of the Bank's insolvency. R. H. Anderson was arrested, but was released on bond. C. C. Shaw, named as trustee in the assigment, has resigned and his successor has not been named

4. October 19, 1901 The Washburn Leader Washburn, ND
Article from The Washburn Leader, October 19, 1901

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Article Text

NEWS IN BRIEF. Overflow From the Wires in a Cone densed Form. Joseph Coufal, thirty-eight years old, was killed at Central Park, Helena, by a fronzied bull elk. The antlers of the animal pierced his body. Jack Bonner of Philadelphia and Al Weinig of Buffalo were to have fought fifteen rounnds at St. John, N. B., but the work was so slow that the referee stopped the bout in the fifth round. Kid Broad and Dave Sullivan fought a twenty-round draw in the arena of the International Athletic club at Fort Erie, N. Y. It was their fifth encounter in the ring, and though opening slowly, it finished as fast as could be desired. The American Shipbuilding Company of Cleveland has closed a contract with the Western Transit Company of Buffalo for a new packet freight steamer to cost $275,000. The new boat will be built at South Chicago and will some out next June. P. H. Anderson, late cashier of the Haywcod County bank at Brownsville, Tenn., which failed several days ago, was indicted on two counts by the grand jury. The indictments charge the wilful and felonious receiving of deposits after having reason to know of the bank's insolvency. Ed Dorrington, sixteen years of age, was shot and killed instantly; Earl King, seventeen, was fatally wounded, and James Considine, fourteen, was shot through the back and hips by Jesse Sherman, who caught the boys poaching on nhis rabbit preserves at Leadville, Colo. Sherman asserts that the gun was accidentally discharged while he was running.

5. October 24, 1901 Fisherman & Farmer Elizabeth City, Edenton, NC
Article from Fisherman & Farmer, October 24, 1901

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Article Text

Bank President Indicted. Brownsville, Tenn., Special.-The grand jury returned another indictment Tuesday in the case growing out of the recent suspension of the 41aywood County Bank. The indictment is agaist P. B. Anderson, late president of the institution. Other indictments in the case were returned Monday against R. H. Anderson, the cashier.

6. October 31, 1901 The Representative Saint Paul, Minneapolis, MN
Article from The Representative, October 31, 1901

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Article Text

IN TENNESSEE. At Brownsville, Tenn., indictments have been returned against the officers of the Haywood County bank, R. H. and D. S. Anderson, cashier and assistant cashier, respectively, with H. J. Smith as prosecutor in each case. The charge is that the parties indicted received deposits when they knew or had reason to know of the bank's insolvency. The Citizens' Bank and Trust Company of Franklin, Tenn., has been suspended for ninety days in order to attempt to realize on resources. Its last published statement showed liabilities of $30,055.87. The assets were placed at the same amount with only about $1,500 on hand. The bankers all agree that the government should go out of the banking business and turn the banking business all over to men with a record like this. Bankers claim that they alone understand the money question. Uncle Sam must retire his bank notes, the greenbacks, and all paper money must be issued by the banks. With United States postal savings banks all these bank suspensions, and defalcations would cease, and if any