Holston National Bank - Elizabethton, TN

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 10976
Charter Number: 10976
Start Date: October 19, 1931
Location: Elizabethton, Tennessee (36.349, -82.211)

Metadata

Model: gpt-5-mini
Short Digest: 8ca60823

Response Measures

Accommodated withdrawals

Receivership Details

Depositor recovery rate: 3.0%
Date receivership started: 1932-06-14
Date receivership terminated: 1938-01-31
Share of assets assessed as good: 4.2%
Share of assets assessed as doubtful: 67.9%
Share of assets assessed as worthless: 27.9%

Description

Article (Elizabethton Star, 1931-10-19) describes heavy withdrawals and depositors demanding currency after a whispering campaign following the taking over of the Holston National Bank. No explicit suspension, closure, reopening, or receivership is mentioned — therefore classified as a run that did not lead to suspension in the provided text. OCR errors in the article (missing punctuation, misspellings) were corrected in interpretation.

Events (3)

1. April 13, 1917 Chartered

Source: historical_nic

2. October 19, 1931 Run

Cause: Rumor Or Misinformation
Cause Details: Ongoing whispering campaign and rumors after the taking over of the bank led depositors to make heavy demands for currency.
Measures: Officers and business community attempted to protect the institution; collection efforts intensified and loans were reduced by about $100,000.
Newspaper Excerpt: the depositors of the institutions, principally those of the Holston Naional Bank, have become very ... made demands on for actual currency during the last days of the week
Source: newspapers

3. June 14, 1932 Receivership

Source: historical_nic

Newspaper Articles (1)

1. October 19, 1931 Elizabethton Star Elizabethton, TN

Article from Elizabethton Star, October 19, 1931

Click image to open full size in new tab

Article Text

tutions have been as well as the officers, and reflected on every way and constant whispering campaign going on all this has been brought about principally idle minded people but since the taking over of the Holston National bank this situation has become acute we are informed, even business not only Carter county but in other adjoining towns, continued such whispering campaign to such an extent that the depositors of the institutions, principally those of the Holston Naional Bank, have become very teasonable in their demands. so that it became impossible for us to meet such demands due to the fact that the people who owe this institution have not been in position to pay rapidly enough to take care of such unusual and Without giving the exact should say that deposits amount sightly in encess of million do:lars, with loans of practically the same amount and efforts to collect from the people who owe the bank have many instances caused the borrowers to reflect on the stitution which they owe but notwithstanding the fact that we have been able nce the merger to reduce the loans one hundred thousand dollars. even with this reduction. have been able to satisfy number of depositors. many whom have made demands on for actual currency during the last days of the week when all knew that we had the heavy payrolls of the plants to take care rendering pressary for the institution to suddenly "We want to say that the officers of this institution and believe that the business people here throughout east Tennessee will agree have made the most desper ate fight possible to protect the