Bank of Carroll - Huntingdon, TN

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: October 2, 1893
Location: Huntingdon, Tennessee (36.001, -88.428)

Metadata

Model: gpt-5-mini
Short Digest: 340746d8

Response Measures

Full suspension

Other: Cashier embezzlement/flight and assignment to trustee (receiver).

Description

Articles report recent withdrawals (a run) leading to suspension and an assignment to a trustee (receiver). Subsequently the cashier absconded after embezzling funds; bank failed to open and depositors likely lost deposits. Classified as run → suspension → closure (assignment/receivership).

Events (5)

1. October 2, 1893 Receivership

Newspaper Excerpt: The Bank of Carroll ... made an assignment yesterday to A. M. Lee, trustee, and failed to open its doors this morning.
Source: newspapers

2. October 2, 1893 Run

Cause: Bank Specific Adverse Info
Cause Details: Large withdrawals by depositors preceded suspension; underlying problem was embezzlement/looting by the cashier discovered after vaults opened.
Measures: None reported to stop withdrawals prior to suspension; directors later requested safe combination and found vaults emptied.
Newspaper Excerpt: Recent withdrawals led to the suspension.
Source: newspapers

3. October 3, 1893 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank suspended after heavy withdrawals and discovery of severe insolvency due to the cashier's embezzlement and missing cash/assets; assignment to trustee followed immediately.
Newspaper Excerpt: The Bank of Carroll, at Huntingdon, made an assignment yesterday to A. M. Lee, trustee, and failed to open its doors this morning.
Source: newspapers

4. October 6, 1893 Other

Newspaper Excerpt: Warrants were sworn out against Truslow, the cashier of the suspended Bank of Carroll. When the sheriff went to arrest him he found that he had skipped. ... He is supposed to have $10,000 or $15,000 with him.
Source: newspapers

5. October 18, 1893 Other

Newspaper Excerpt: When the bank suspended R. F. Truslow, the cashier, left town ... the vaults were opened the bank officials found Truslow had stolen all the contents but $15.06. ... The depositors will lose everything.
Source: newspapers

Newspaper Articles (3)

1. October 3, 1893 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, October 3, 1893

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Article Text

Small Bank Assigns. NASHVILLE, TENN., Oct. 2.-The Bank of Carroll, at Huntingdon, made an assignment yesterday to A. M. Lee, trustee, and failed to open its doors this morning. It was a state institution organized a few years ago with J. P. Priestly, president, and R. E. Trulow, cashier. The capital stock as advertised was $30,000, the amount subscribed $15,000, with $8,500 paid пр. The cash assets are $300 and the liabilities $11.500. Trulow made an assignment of certain property, and this, with notes and unpaid capital stock, runs the assets up to $23,000. Recent withdrawals led to the suspension. The suspension will not affect anybody except a few stockholders.

2. October 6, 1893 Pine Bluff Daily Graphic Pine Bluff, AR

Article from Pine Bluff Daily Graphic, October 6, 1893

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Article Text

A Fugitive Bank Cashier. HUNTINGTON, Tenn,, Oct. 6.-War- rants were sworn out against Truslow, the cashier of the suspended Bank of Carroll. When the sheriff went to arrest him he found that he had skipped. The affairs of the bank are in a much worse condition than supposed. It appears that he looted all of the stock and several thousand of deposits. He is supposed to have $10,000 or $15,000 with him.

3. October 21, 1893 The Kootenai Herald Bonners Ferry, Kootenai, ID

Article from The Kootenai Herald, October 21, 1893

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Article Text

VICTIMIZED BY THE CASHIER. A Tennessee Bank Robbed by a Trusted Official. HUNTINGDON, Tenn., Oct. 18.-When the Bank of Carroll, one of the oldest financial institutions in Tennessee, failed a week ago the business circles of Huntingdon were shocked, but the sensation was nothing compared with the result of today,s disclosures. When the bank suspended R. F. Truslow, the cashier, left town on the pretext that he was going east to raise money to put the bank on its feet again. As days psssed and no news came from the cashier the directors grew nervous and telegraphed to the manufacturers of the safe for the combination. The document came today and when the vanlts were opened the bank officials found Truslow had stolen all the contents but $15.06. Even the safety deposit vaults had been broken into and robbed. The depositors will lose everything. Truslow stood high in business and social circles. Since the failure of the bank it has been learned that he had led a double life, being known in Cincinnati and Chicago as a man who owned a large string of Tennessee race horses.