Article Text
. Woolen Mills Go Under. JACKSON, Tenn., Sept. 28.-The Jackson Woolen Mills have assigned. Liabilities, $100,000. Assets not yet ascertained. The trouble grew out of the recent failure of the Jackson bank.
20660. Jackson bank (Jackson, TN)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- state
- Start Date
- September 28, 1890
- Location
- Jackson, Tennessee (35.615, -88.814)
Metadata
- Model
- gpt-5-mini
- Short Digest
01017784
Response Measures
None
Description
Multiple newspapers from Sept 28–Oct 6, 1890 report a suspension/failure of the Jackson bank (Tenn.). Articles link the bank's suspension/failure to a New York house calling a loan amid a money stringency (McKinley bill effects). No articles mention a reopening; the bank's suspension led to the woolen mill's assignment, implying permanent closure or failure.
Events (1)
1.
September 28, 1890
Suspension
- Cause
- Correspondent
- Cause Details
- Bank had borrowed largely from a New York house which called the loan during the recent New York money stringency; result was suspension of the Jackson bank (linked to McKinley bill effects).
- Newspaper Excerpt
- The failure grew out of the recent failure of the Jackson bank.
- Source
- newspapers
Newspaper Articles (9)
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Article Text
Second Failure at Jackson, Tenn. JACKSON, Tenn., Sept. 28.-The Jackson woolen mills have assigned. Liabilities, $100,000; assets not yet ascertained. The failure grew out of the recent failure of the Jackson bank.
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Woolen Mills Assigned. JACKSON, Tenn., Sept. 28.-The Jackson woolen mills has assigned; liabilities, $100,000 ; assets not yet ascertained. The failure grew out of the recent failure of the Jackson bank.
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Article Text
Liabilities $100,000. JACKSON, Tenn., Sept.28.-The Jackson woolen mills have assigned. Liabilities, $100,000; assets not yet ascertained. The failure grew out of the recent failure of the Jackson bank.
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Article Text
A Broken Bank the Cause. JACKSON TENN., September 28. - The Jackson woolen mills have assigned. Liabilities $100,000, assets not yet ascertained. The failure grew out of the recent failure of the Jackson bank.
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Woolen Mills Assign. JACKSON, TENN., Sept. 28.-The Jackson woolen mills have assigned. Liabilities $100,000; assets net yet ascertained. The failure grew out of the recent failure of the Jackson bank.
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NEWS IN BRIEF. A Condensation of Interesting Items on Various Subjects. Big increase in the cotton crop. Louisville Democrats renominated W. T. Ellis. A heavy increase is reported in the cotton crop. Overcoats are in demand even down in Mississippi. Italians had another riot picnic at Hazelton, Pa. Superintendent of Census Porter has sailed for Europe. Conrad Ammann was gored to death by a bull near Coshocton, O. The English authorities will prosecute Slavin and McAuliffe for prize fighting. A daughter of ex-Governor Mills, of Wisconsin, committed suicide by drowning. Burglars cracked John Staiger's safe at Columbus, O., securing several hundred dollars. John Griffin, of Paris, Ky., was seriously injured Saturday by a blast at Schwartz' lime kiln. Free Thinkers are to celebrate in Chicago the hanging of the Anarchists by a memorial day, Nov. 9. Joseph Lownsly, a 78-year-old drummer boy of 1812, was with the reuned vet's off '63 at Coshocton, O., Saturday. George Taylor, of Athens, O., jealous fool, proved what a truly loveable creature he was by murdering his wife with a shot gun. At Danville, Ky., Betty Doty, a negre woman, was given a life sentence in the penitentiary for infanticide. She pleaded guilty. Judge James R. Doolittle, of Racine, Wis., who was badly injured by being thrown from a buggy Saturday, is resting easy and will recover. Frank Schoonover, at Mason, O., quarreled with Ambrose Fox, and bit off his finger, then he threw him into a lime-vat and burned out his eye. Newton Lenning, of near Henderson, Ky., fatally shot John W. Mellon, an old farmer, because the latter ran off with his daughter and married her. The Jackson, Tenn., woolen mills have assigned. Liabilities, $100,000; assets not yet ascertained. The failure grew out of the recent failure of the Jackson bank. Two newspapers printed at Elizabethtown, Ky., have quit. The Welcome Tidings, a Republican paper, and Independent, independent in politics, are the unlucky journals. While out hunting, near Hopkinsville, Ky., Alvin White, who was hid in the bushes to shoot some game, accidentally fired upon J. A. Jennings, a neighbor, and fatally wounded him. Charles Siefert killed his daughter at Lacon, Ill., because she married Joseph Baxter against her parents' wishes. Siefert then killed himself. The young husband has become insane. In spite of the fact that the parties implicated in the first three attempts to wreck trains near Maximo, O., are in the penitentiary, a fourth attempt was made at the same place Saturday. The Indianapolis Sun illustrates the roughest of its street car roads by telling of a married man who started home on a car with a quart of skim milk, which at the end of the journey was transformed into yellow butter. Congressional conventions ars yet to be held by the Democrats in the Fourth, Seventh, Eighteenth, Twentieth and Twenty-first districts, and by the Republicans in the Fourth, Fifth, Seventh, Seventeenth and Twenty-first districts in Ohio. The large stone warehouse adjoining the Richwood distillery, near Milton, Ky., was destroyed by fire Sunday, together with its contents, 1,500 barrels of tax-paid whisky, the property of Levy Brothers of Cincinnati. The loss is estimated at $100,000, fully insured. Fire Sunday morning destroyed the great packing house of Fowler Brothers, at Chicago. Fully seven thousand head of hogs were consumed, together with vast quantities of cured and pickled meats. The loss is not far from $700,000, and is entirely covered by insurance, mostly in foreign companies. About 1,300 persons were employed by the firm.
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LATE EWS NOTES. -There are now 74 students at the A.&M/ College. -D> .vidson county convention passed. W Lolutions endorsing Vance. '-The center of the population of t' ais country is now said to be in Jen. nings county, Indiana. -Birchall, the celebrated Canadian murderer, has been convicted of the murder of young Benwell. -Four hundred Russian soldiers were drowned by the collapsing of a bridge in Poland, Saturday. -Sam Jones has arrived in W il. mington and preached his first sermon to an audience of 5000 people. -McAuliffe was knocked out in the second round by Slavin in the great prize fight in London last week. -It is said that there is a combined movement among the European countries to retaliate against the McKinley bill. -About two hundred European iron and steel men will visit the iron regions of the South during the month of October. -Two students at the Virg. nia Military Institute had a fist-fight last week from the effects of which one of them has died. -William Wallace Rollins has been nominated by the President to be collector of internal revenue for the Fifth N. C. District. -W. H. Schrieber, who stole $300, 000 from the First National bank of Detroit,has been decoyed into the Uni ted States and arrested. -Since the mad dog scare at Mor ganton the city fathers have passed a law providing for the killing of all dogs found loose in the town. -The census of Asheville which has just been retaken shows the population to be 11,984, This is an increase of 1900 over Porter's count. -The Holts are building another cotton mill of over 5,000 spindles at Company Shops. They now own twelve cotton mills in Alamance Co. -A passenger schedule on the G. C. &N. R. R. goes into effect to-day by which a daily train will run between Greenwood and Monroe-118 miles. -The Senate has confirmed the nominations of E. B. Grubbs, of New Jersey, Minister to Spain, and Edward H. Conger, of Indiana, Minister to Brazil. -The Eaglish are not alarmed by the McKinley Tariff bill. They say it may hurt their trade with the United States but will help them in other quarters. -The books of the late Samuel J. Tilden show that he expended in all between $800,000 and $900,000 on Greystone, his summer residence on the Hudson. -The Jackson, Tenn., woolen mills have assigned. Liabilitie- $100,000; assets not ascertained. The failure grew out of the recent failure of the Jackson bank. -Lewis M. Griffin, a well known tobacco man of Richmond, who committed suicide last Monday by shooting himself with & pistol, was to have been married Oct. 8. -Col. Fairbrother, the editor of the Omaha Bee, who married Miss Mamie Hatchett, of Henderson, has bought the Durham Globe and takes charge immediately. -A Philadelphia Judge, in declaring that the Kreutzer Sonata was not an obscene book, expressed the opinion that John Wanamsker was ojudge of law or literature. -The route which the Roanoke and Southern is® to take has narrowed down to Charlotte and Monroe. If Charlotte wants it bad enough to make a proper effort to secure it the road will go there. -The cigar manufacturers are buying largely of Sumatra tobacco in auticipation of the increase of the import tax. One steamer landed at New York Sunday with half a million dollars' worth. -Sunday's morning service at St. Paul's Cathedrat in London was interrupted by a horrible tragedy. During the service a man named Easton, in the congregation, committed suicide by shooting himself twice with a revolver. -Henry Watterson made a great speech before the Massachusetts Reform Club in Boston last Friday in which he said that the two great dan gers which threaten the country are the "Gospel of Force" and the "Doetrine of Protection." -The Republicans of South Caro lina are running a shrewd scheme to heat Tillman. They have named a ticket composed mainly of straightout Democrats who fought against Tillman's nomination to the last. A. C. Haskell is on the ticket for Governor; John Bratton for Lieut. Governor, and Jas. H. Earl for Attorney General. It remains to be seen whether these Democrats will lend themselves to the scheme or not. -Representative Miller, of. South Carolina, who has just taken'his seat in the House by the aid of Reed & Co., is bound to get something from his new friends for his constituents. He has just introduced a bill appro-
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First Fruit of the McKinley Bill. It was said that the money panic which occurred in New York recently, giving Windom an excuse for robbing the treasury to save a lot of heartless money speculators, would not affect other sections of the country. But this was a mistake. It is other sections that this outrageous scheme is calculated to hurt, and not Wall street. The Jackson, Tenn. Times related an instance a few days ago, accounting for the failure of the bank and woolen mill of that place. The woolen mill had accumulated some $40,000 or $50,000 worth of goods which could not be disposed of readily for cash to meet its demand, which came suddenly. The bank had borrowed largely from a New York house in order to accommodate the mill and keep it running until the season for its trade opened and the accumulated stocks could be disposed of at a profit. The bank ex pected its accommodation by the New York house to be extended to bridge (over the period, but instead the New York bank was forced to call in its loan to meet the home stringency. Consequently the sus pension of the Jackson bank, fo lowed by the woolen mill. Doubtless there are many similar cases in the great number of failures reported, the first fruit of the McKinley bill.