Union Bank - Knoxville, TN

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: February 11, 1856
Location: Knoxville, Tennessee (35.961, -83.921)

Metadata

Model: gpt-5-mini
Short Digest: e2d458c3

Response Measures

None

Description

The House laid before it a communication from the President of the Union Bank stating the Knoxville branch's business has been suspended from the voluntary resignation of the Board at that Branch. This is a voluntary suspension (board resignation) with explicit intent to consider appointing a new board, implying eventual resumption; no run is mentioned in the article. Date taken from the newspaper publication.

Events (1)

1. February 11, 1856 Suspension

Cause: Voluntary Liquidation
Cause Details: Business suspended due to voluntary resignation of the branch board; suspension appears voluntary while new board appointment is considered.
Newspaper Excerpt: The business of the Branch of this Bank at Knoxville has been suspended from the voluntary resignation of the Board at that Branch.
Source: newspapers

Newspaper Articles (1)

1. February 11, 1856 Nashville Daily Patriot Nashville, TN

Article from Nashville Daily Patriot, February 11, 1856

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Article Text

sentatives in Congress to use all proper efforts to secure the passage of a law to carry out this object. Lies over. Lafayette Turnpike-On motion of Mr. Pogue, the House reconsidered the vote rejecting the bill to incorporate the Lafayette and Red Sulphur Springs Turnpike company, and to grant State aid thereto, and the bill passed on its third reading; ayes 33, noes 29. Property exempt from execution-Mr. Temple called up the motion to reconsider the vote rejecting the bill to exempt certain property from execution. The vote was reconsidered and the bill passed on its third reading; aves 36, noes 26. The Hermitage-The House concurred in Senate amendmentto House bill providing for the purchase of the Hermitage, ayes 34, noes 29. AFTERNOON SESSION. Union Bank-The Speaker laid before the House a communication from the President of the Union Bank, in response to a resolution of the House, adopted a few days since, in regard to the affairs of the Branch of that Bank at Knoxville, in which he says: The business of the Branch of this Bank at Knoxville has been suspended from the voluntary resignation of the Board at that Branch. As soon as this Board is satisfied that it is the wish of the business community of that section that a new Board should be appointed, we will take the matter into respectful consideration." The communication was laid upon the table for the present. Classifying the Acts-Mr. Cavitt called up bis resolution directing the Secretary of State to so classify the acts as to have the public and private or local acts printed under separate heade, and the resolution was adopted Regersville Railroad-On motion of Mr. Kinney, the House took up House bill for the benefit of the Rogersville and Jefferson Railroad company, (granting State aid thereto,) and, after being amended 80 as to provide that after the expiration of five years from receiving the State bonds, the company shall annually set aside two per cent as a sinking fund for the redemption of the same, it was passed on its third reading; ayes 36, noes 16.