Bank of Madison - Jackson, TN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: September 1, 1890*
Location: Jackson, Tennessee (35.615, -88.814)

Metadata

Model: gpt-5-mini
Short Digest: 5d441e89

Response Measures

None

Description

Article states the Bank of Madison suspended business in September, 1890 and is described as defunct with officers indicted; an assignment (receiver) followed. No run is mentioned, so classified as a suspension that resulted in permanent closure/receivership.

Events (2)

1. September 1, 1890* Receivership

Newspaper Excerpt: The Grand Jury has found true bills against N. S. White and J. W. Theus, president and cashier of the defunct Bank of Madison, which suspended bustness in September, 1890... just before the assignment.
Source: newspapers

2. September 1, 1890* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank suspended due to insolvency leading to assignment; article notes officers charged with receiving deposits knowing the bank was insolvent.
Newspaper Excerpt: the defunct Bank of Madison, which suspended bustness in September, 1890.
Source: newspapers

Newspaper Articles (1)

1. February 14, 1892 New-York Tribune New York, NY

Article from New-York Tribune, February 14, 1892

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Article Text

TWO BANK OFFICERS INDICTED. Chicago, Feb. 13.-A dispatch from Jackson, Tenn., says: The Grand Jury has found true bills against N. S. White and J. W. Theus, president and cashier of the defunct Bank of Madison, which suspended bustness in September, 1890. The indictment charges them with "knowingly, unlawfully and feloniously of receiving money for deposit, knowing the insolvency the bank," just before the assignment.