Knoxville Bank & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: June 1, 1914*
Location: Knoxville, Tennessee (35.961, -83.921)

Metadata

Model: gpt-5-mini
Short Digest: bc83bc10

Response Measures

None

Description

Article (May 12, 1915) refers to John W. Green as receiver for the Knoxville Bank & Trust Co. and describes delivery of bonds to the receiver in June 'last' (i.e., June 1914). No mention of a depositor run in the excerpt; evidence indicates the bank had a receiver (closure) prior to the article. Classified as suspension_closure (suspension leading to permanent closure/receivership).

Events (1)

1. June 1, 1914* Receivership

Newspaper Excerpt: Oliver made a proposition to John W. Green, receiver for the Knoxville Bank & Trust Co., to reduce the bonds to $300,000 first mortgage ... and that the bonds in question were delivered to Mr. Green.
Source: newspapers

Newspaper Articles (1)

1. May 14, 1915 The Columbia Herald Columbia, TN

Article from The Columbia Herald, May 14, 1915

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Article Text

SEEKS DAMAGES HALF A MILLION SUIT BROUGHT AGAINST W. J. OLIVER FOR ALLEGED BREACH OF CONTRACT. 1 KNOXVILLE, Tenn., May 12.-A1leging breach of contract by failure to turn over $700,000 par value bonds of the Knoxville, Sevierville & Eastern Railroad, the Manhattan Life Insurance Co. today began suit against W. J. Oliver, of Knoxville, in federal court to recover damages of more than $500,000. According to the declaration filed, Oliver sold the complainants the $700,000 bonds, agreeing to take therefor property in Philadelphia and New York City, and to furnish an indemnity bond for $150,000, guaranteeing prompt payment of interest, also to apply the earnings of the railroad for its betterment. Furtheremore, the insurance company agreed to lend Oliver $350,000 on the real estate in question for a period of five years, and Oliver agreed to improve the property. Breach of contract is alleged in that Oliver failed to deliver the bonds and that in June last he made a proposition to John W. Green, receiver for the Knoxville Bank & Trust Co., to reduce the bonds to $300,000 first mortgage and leave $400,000 second mortgage bonds outstanding, and that the bonds in question were delivered to Mr. Green.