First National Bank - Gallatin, TN

Bank Information

Episode Type: Run → Suspension → Unsure
Bank Type: national
Bank ID: 4236
Charter Number: 4236
Start Date: August 16, 1893
Location: Gallatin, Tennessee (36.388, -86.447)

Metadata

Model: gpt-5-mini
Short Digest: 6be02c8d

Response Measures

Partial suspension

Description

Newspapers (Aug 16–17, 1893) report a slight run on Farmers & Traders Bank; directors posted a notice that only 10% would be paid for the present, i.e., partial payment/suspension of full withdrawals. No later article here reports reopening or permanent closure, so outcome is unsure. OCR corrected variants (Farmers' and Traders' bank → Farmers & Traders Bank).

Events (2)

1. August 16, 1893 Run

Cause: Macro News
Cause Details: Slight depositor run (same day runs also reported at other Gallatin banks) during the 1893 banking disturbances; general panic pressure led to withdrawals
Measures: Directors posted notice that only 10 percent for the present would be paid on deposits.
Newspaper Excerpt: There was a slight run by depositors yesterday on the Farmers' and Traders' bank
Source: newspapers

2. August 16, 1893 Suspension

Cause: Macro News
Cause Details: Directors limited payments to 10% of deposits (partial suspension of payments) in response to heavy withdrawals/pressure from runs.
Newspaper Excerpt: the directors have posted a notice that only 10 per cent. for the present would be paid on deposit
Source: newspapers

Newspaper Articles (2)

1. August 16, 1893 Asheville Daily Citizen Asheville, NC

Article from Asheville Daily Citizen, August 16, 1893

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Article Text

Two Little Ruus. GALLATIN, Tenn., Aug. 16.-There was a slight run by depositors yesterday on the Farmers' and Traders' bank and the directors have posted a notice that only 10 per cent. for the present would be paid on deposit. There was a slight run on the First National bank of Gallatin, less than $2,000 having been paid out.

2. August 17, 1893 The Morning News Savannah, GA

Article from The Morning News, August 17, 1893

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Article Text

RUNS ON GALLATIN BANKS. They Were the Farmers and Traders and the First National. Gallatin, Tenn., Aug, 16.-There was a slight run by depositors yesterday on the Farmers and Traders bank and the directors posted a notice that only ten per cent., for the present. would be paid on deposits. Loans and other means are over $120,000 and deposits about $80,000. LLIGHT RUN ON THE FIRST NATIONAL. There was a slight run on the First National Bank of Gallatin, less than $2,000 having been paid out.