East Tennessee National Bank

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 2049
Charter Number: 2049
Start Date: September 30, 1873
Location: Knoxville, Tennessee (35.961, -83.921)

Metadata

Model: gpt-5-mini
Short Digest: b66b94bc

Response Measures

None

Description

Newspaper reports a run/nervousness affecting multiple Knoxville banks in late September 1873. The Exchange and Deposit Bank (and others) suspended, but People’s Bank (under Col. C. M. McGhee) was reported by its president to survive the run without trouble. No suspension or closure of Peoples Bank is reported in these articles.

Events (1)

1. September 30, 1873 Run

Cause: Local Banks
Cause Details: Runs/suspensions at other Knoxville banks (Exchange and Deposit Bank, Knoxville and Commercial banks) triggered nervousness and withdrawals at People's Bank.
Measures: Public reassurance by President Col. C. M. McGhee that the bank would survive the run.
Newspaper Excerpt: Major R. C. Jackson of the East Tennessee National, and Col. C. M. McGhee, President of the People's Bank, think their institutions will survive the run without trouble.
Source: newspapers

Newspaper Articles (1)

1. September 30, 1873 Nashville Union and American Nashville, TN

Article from Nashville Union and American, September 30, 1873

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Article Text

WE learn from the Knoxville Chronicle that the Exchange and Deposit Bank of Kuoxville suspended Saturday. The Bank was owned by John Baxter. We did not learn the liabilities of the concern nor the amount of its assets. Mr. Baxter publishes a card offering to give up all his personal property to satisfy the liabilities of the bank. Latter in the day the Knoxville and Commercial banks suspended. Major R. C. Jackson of the East Tennessee National, and Col. C. M. McGhee, President of the People's Bank, think their institutions will survive the run without trouble.