Article Text
will Probably Resume. CHATTANOOGA, Tenn., Aug. 24.-The directors of the First National bank of Dayton, Tenn., have decided to suspend payment for sixty days. The assets are more than double the liabilities.
20628. First National Bank (Dayton, TN)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 4362
- Charter Number
- 4362
- Start Date
- August 24, 1893
- Location
- Dayton, Tennessee (35.494, -85.012)
Metadata
- Model
- gpt-5-mini
- Short Digest
0c68e737
Response Measures
None
Receivership Details
- Depositor recovery rate
- 90.2%
- Date receivership started
- 1893-10-25
- Date receivership terminated
- 1897-10-05
- OCC cause of failure
- Losses
- Share of assets assessed as good
- 20.3%
- Share of assets assessed as doubtful
- 67.9%
- Share of assets assessed as worthless
- 11.7%
Description
Articles report the First National Bank of Dayton, Tenn. suspended payments for sixty days on 1893-08-24 citing stringency in the money market (no run mentioned). Later, in Sept 1895 a receiver (A. P. Haggard) was appointed, indicating the bank did not continue as a normal open bank and went into receivership. Thus sequence is suspension (no run) followed by closure/receivership.
Events (4)
1.
July 10, 1890
Chartered
- Source
- historical_nic
2.
August 24, 1893
Suspension
- Cause
- Macro News
- Cause Details
- Stringency in the money market (tight money conditions) forced directors to suspend payments for sixty days; circular mailed to depositors.
- Newspaper Excerpt
- The directors of the First National Bank of Dayton, Tenn., have decided to suspend payment of depositors for sixty days...the stringency in the money market makes a stoppage of business necessary.
- Source
- newspapers
3.
October 25, 1893
Receivership
- Source
- historical_nic
4.
September 13, 1895
Receivership
- Newspaper Excerpt
- Acting Comptroller Tucker today appointed A. P. Haggard receiver of the First National Bank of Dayton, Tenn., in place of Davis B. Plumbe(e).
- Source
- newspapers
Newspaper Articles (16)
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Article Text
Large Assets. but Little Cash. CHATTANOOGA, Tenn., Aug. 24.-The directors of the First National Bank of Dayton, Tenn., have decided to suspend payment of depositors for sixty days, and a circular to that effect has been mailed to depositors. The assets are more than double the liabilities, but the stringency in the money market makes a stoppage of business necessary. The bank hopes to resume in two months or less.
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Bank Saspends for Sixty Days. CHATTANOOGA TENN., August 24.-Directors of First National Bank, of Dayton, Tenn., have decided to suspend payment to depositors for sixty days and a circular to that effect been mailed to the the depositors. The assets are more than double the liabilities, but the stringency in the money market, makes a stoppage of business necessary. The bank hopes sume in two months or Iss.
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A Bank Suspends For Sixty Days. Chattanooga, Tenn., Aug. 24.-Directors of the First National Bank of Dayton, Tenn., have decided to suspend payment to depositors for sixty days, and a circular to that effect has been mailed to depositors. The assets are more than double the liabilities, but the stringency in the money market makes stoppage of business necessary. The bank hopes to resume in two months or less.
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A DAYTON BANK. The First National Suspends "nymen This Morning. The First Nationtial bank of Dayton Tenn, su-pended last Wednesday. They ask their depositors for sixty days time.
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NEWS NUGGETS. Brought by the Wires From the North, East. South and West. The House Saturday passed Mr. O'Neil's bill to provide a new revenue cutter for Boston, to cost $125,000. Secretary Herbert has appointed Thomas C. Earey of New Hampshire, chief of division second, comptroller's office. The comptroller of the currency was informed that the First National Bank of Dayton, Tenn., closed its doors to business Saturday. dispatch from Bnenos Ayres says A conflict and the has ministry arisen of Cordova. between the Seven direc- Governor tors of the Banco Ipotecario de Laplata have been arrested. B.E. B. Mitchell, a reporter on the Boston foot ball a Globe, circles, well died known Saturday in tennis morning and after few days' illness of diphtheria. He was only 21 years of age. Stratton & White, electrical and general implement dealers, have filed a deed of trust for $400,000. with but $50,000 preferred. This is the largest failure Fort Worth ever experienced. Tena McDonald. mother of the child a ashes ter, a was in court for found the Mass., police buried few in days pile Saturday of ago, at manslaugh- arraigned Glouces ter Mary One and of held the in columns $1200 for of the the grand old jury. monument at Va., was posed was some Washington the stolen theft Friday committed night. Fredericksburg, It by is suprelic hunter whose purpose is to sell the shaft. Secretary Herbert has approved plans recommended of and the and chief of the by naval the board bureau of officers yards docks, by which the naval prison at Boston, Mass... will be increased to double its present capacity. The Italian government is taking steps to declare martial law all over Sicily and extirpate the brigandage on the island. The work will be done by 12,000 troops from the regular army assisted by the local police officers and municipal guards. A special to the Boston Journal from Ludlow. Vt. says Ludlow Woolen Mills, S. Gill & Co., proprietors, has reduced the time of labor one-half, commencing Monday. This the first time for 30 years that this mill has run on short time, but has often worked over time. New York paid tribute to Chicago and the White City Saturday which was "Manhattan Day Thousands of citizens from Manhattan Island came to the Fair to pay their homage of admiration without stint. Fairer skies and more pleasant temperature could not have been desired. one of the largest meetings the Union has ever was almost resolution League of Philadeiphia Friday night passed he d, a unanimously the of clause of man were the silve silver act. purchase advocating Nearly 600 membere prompt the repeal Sherpresent. The meeting was behind closed doors. Richard Williams is under arrest at New This Bedford, afternoon Mass. while charged Cornelius with Randall, larceny. colored, a and a new suit which funeral, exchanged with Williams his his clothes family entered for were the absent house at belonged to Randall. He was wearing the suit when arrested. The total number of fourth class postwas 42, of masters which appointed to fill Saturday caused were vacancies by resignation and death. Among the appointments were the following Massachusetts, Miss Hannah Mullen, Wayland: New Hampshire, James Seavey. Potter Place: Vermont. Annie Allen, North Peacham: Anna E. Harly, Westford. at the taken World's The New Fair Hampshire will undoubtedly building be to up new down. park. and set where transported in it the will beautiful be used Manchester, as a Derryfield museum N. H., as a the matter is by for the park. curios Manchester The and city headquarters being government, considered for and meeting will be held to take action in the matter at once. W.L. Sturgess walked into the office of the John Hancock Insurance Company at St. Louis, Mo., Friday, and fired four shots at John J. The were at and a miracle shots General saved Manager short range Releigh. only Raleigh from being killed. He was unhurt save a power burned face. Sturgess, who was recently discharged from employment, was secured after struggle. and expressed regret that he had not kille1 the man who discharged him. Lord Elgin of Kiscardine, who has been 0 appointed Viceroy of India. will receive the princely salary of $300,000 per annum, this office being the best paid of any in the d gift of the British crown. Unlike many of the occupants of this position. Lord Eigin needs the emoluments, as be is one of the poorest of the Scotch earle and has a large family. The Mugais of Lanedowne, the present Viceroy, possesses an income of ) 8350,000 a year independent of his official salary, wille both the Earl of Northbrooke and the Jarquie of Ripon were each so normously wealthy that they declined to accepteiuser selary or allowances from the national treasury for their services in this office.
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Bank Receiver Appointed. The controller of the currency has appointed Mr. A. P. Haggard receiver of the First National Bank of Dayton, Tenn., in place of Mr. David B. Plumlee, resigned.
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Receiver Appointed. Washington, Sept. 13.-Acting Comptroller Tucker today appointed A. P. Haggard receiver of the First National bank of Dayton, Tenn. in place of Davis B. Plumbe.
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er's rates, which is considerably higher than Government rates. It is thought that considerable gold will be obtained in this way. Arrange. ments were perfected with :the express company to ship the currency and quite a large shipment was made this afternoon for Pittsburg, Pa., and one shipment of a smaller amount made to Roohester, N. Y. Acting Comptroller Tnoker, to day appointed A. P. Haggard receiver of the First National Bank of Dayton, Tenu,, in place of Davis B. Plumbe.
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Telegrams Made Terse. Paris, Tex.-Charles H. Key met his death on the gallows for the murder of Smith McLothlin, in the Chickasaw Nation on July 21, 1894. Comptroller Washington.-Assistant Tucker appointed A. P. Haggard receiver of the First National Bank of Dayton, Tenn., in place of Davis B. Plumb. New York.-The three-days' reunion of the United States Military Telegraph Corps and the Old-Time Telegraphers and Historical Association closed. The reunion was successful in every way. Buffalo, N. Y.-Preparations are under way for the trip next week of the Governor, State officials, and committees of the Senate and Assembly, to the Chickamauga and Chattanooga battle-fieids, and the Atlanta Exposition. Paris.-A five-days' trial has resulted in the acquittal of Director Felix Martine, Engineer Bobin, and Contractor Andre, of the South of France railway, who were accused of being accomplices of the late Baron de Reinach, who victimized the shareholders out of 844,000 francs through a contract. Jacksonville, Fla.-C. B. Barnard and J. B. Hester were arrested at Cedar Keys and taken before United States Commissioner Lutterioh on a charge of violating the United States neutrality laws by having in their possession arms, ammunition, and provisions for the Cuban insurgents. Nothing could be proved to sustain the charge, and the defendants were discharged. Washington.-Secretary Herbert has notifled the court-martial now in session at Brooklyn, N. Y., to proceed with the case of Colonel Forney until some definite conclusion is reached, this action being taken in response to a telegram received by the Secretary asking him if the court should continue the trial in view of the fact that two of the specifications of the charges against Colonel Forney had been withdrawn.
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# REMOVAL OF PLUMLEE. Mr. Tucker Denies That His Silver Views Caused It. Acting Comptroller Tucker stated today that the news item going the rounds of the press that L. B. Plumlee, receiver of the First National Bank of Dayton, Tenn., has been removed because he differed with the administration of the silver question, and was outspoken in his opposition, is incorrect. Mr. Plumlee's resignation, Mr. Tucker says, was requested for "purely business reasons," and in the interest of the creditors of the bank for which he was receiver.
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Why Plumlee Was Removed. Washington, Sept. 18.-Acting Comptroller Tucker stated today that the news item going the rounds of the press that L. B. Plumlee, receiver of the First National bank of Dayton, Tenn., has been removed beca a e he differed with the administration on the silver question and was outspoken in his opposition is inMr. Plumlee's resignation, correct. Tucker says, was requested for "purely business reasons" and in the interest of the creditors of the bank for which he was receiver
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PLUMLEE'S RESIGNATION. It Was Requested for "Purely Business Reasons." Washington, Sept. 18.-Acting Controller Tucker stated to-day that the news item going the rounds of the press that L. B. Plumlee, receiver of the First National Bank of Dayton, Tenn., has been removed because he differed from the administration on the silver question and was outspoken in his opposition, is incorrect. Mr. Plumlee's resignation, Mr. Tucker says, was requested for "purely business reasons," and in the interest of the creditors of the bank for which he was receiver.
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MR. PLUMLEE'S REMOVAL. It Was Not on Account offCriticisms of the Administration. WASHINGTON, Sept. 18.-Acting Comptroller Tucker stated to-day that the news item going the rounds of the press that L. B. Plumlee, receiver of the First National Bank of Dayton, Tenn., has been removed because he differed with the admínistration on the silver question and was outspoken in his opinion, is incorrect. Mr. Plumlee's resignation, Mr. Tucker says, was requested for "purely business reasons," and in the interest of the creditors of the bank for which he was receiver.
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REMOVAL OF PLUMLEE. Not Due to Differences With the Administration. WASHINGTON, D.C., September 18.Acting-Comptroller Tucker stated to-day that the news item going the rounds of the press that L. B. Plumlee, receiver of the First National Bank of Dayton, Tenn., had been removed because he differed with the administration on the silver question and was outspoken in his opinion, is incorrect. Mr.' Plumlee's resignation, Mr. Tucker says, was requested for "purely business reasons," and in the interest of the creditors of the bank for which he was receiver.
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New Receiver Appointed. The comptroller of the currency has appointed A. P. Haggard receiver of the First National Bank of Dayton, Tenn, vice David Plumle, resigned.