20733. Lawrenceburg Bank (Lawrenceburg, TN)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
April 20, 1860
Location
Lawrenceburg, Tennessee (35.242, -87.335)

Metadata

Model
gpt-5-mini
Short Digest
a99b9db1

Response Measures

None

Description

Newspaper cluster (Apr 11–May 3, 1860) reports the bank's notes were thrown out and an agency in Memphis failed to redeem them for want of funds; several dispatches then state the Lawrenceburg Bank has suspended and the cashier says it will be all right in a few days. No explicit depositor run is described. The bank was established under Tennessee's Free Banking law (article 14 notes that it was established under Free Banking law), so classified as a state bank. Dates: suspension reported ~1860-04-20/21.

Events (1)
1. April 20, 1860 Suspension
Cause
Correspondent
Cause Details
Agency in Memphis failed to redeem the bank's notes for want of funds; notes were thrown out and in bad odor, prompting suspension reports and refusal by other banks to accept its bills.
Newspaper Excerpt
The Lawrenceburg Bank of Tennessee has suspended. The cashier says it will be all right again in a few days.
Source
newspapers

Newspaper Articles (15)
1. April 13, 1860 Nashville Union and American Nashville, TN
Article from Nashville Union and American, April 13, 1860

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Monetary. The Memphis Appeal of the 11th warns the public against tak king the notes of the Lawrenceburg Bank, but gives no reason for this warning. The Memphis Enquirer of the same date says: Bills on the Bank of Lawrenceburg, in this State. are refused by our bankers. We are not informed as to wether the bank has yet suspended or not, but the deposits here having been exhaust ed, they are thrown out. The Memphis Avalanche has the following paragraph: We are informed by one of our bankers that they will not take this money at present, yet would not advise & sacrifice. There is a stoppage somewhere, and until cleared up we would advise & careful handling of the paper. There has been for months reports in circulation in relation to this bank of an unfavorable charac ter. This bank having, either directly or indirectly, sustained their circulation with us by sust aining her credit through actual deposits, was kept afloat, yet being nervously accredited by brok ers not protected, is now discredited. from the fact of the funds that were plrced here to redeem its circulation having given out. We learn that the notes of the Lawrenceburg Bank are not re? ceived on deposit by our Banks, and no price is offered for them by our brokers. It is singular, if the Bank is in a good condi tion, that the officers do not take steps at once to satisfy the pub lic in regard to the matter. The Bank has not yet made its quarterly report to the Comptroller as required by law. Tennessee Bonds sold in New York on Wednesday at 90½c, hich is a decline of 5/8c on the last reported sales. In Philadelphia on the 7th thirty shares Union Bank of Ten nessee stock sold at 89½c The exports of specle from New York to the 7th inst. wereas follows:

2. April 15, 1860 Nashville Union and American Nashville, TN
Article from Nashville Union and American, April 15, 1860

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Monetary. The throwing out by our Banks of the notes of the Lawrenceburg Bank during the week has excited some attention. It was thought that this Bank had been prudently managed since the general suspension in 1877, but knowing ones assert that it has been upheld by interested parties and has been do ng a fictitious business For ten days or two weeks the notes of the Lawrenceburg Bank have been in bad odor at Memphis, the agency there having failed to dedeem them for want of funds. The Bank is reported broke and the break is stated to be a bad one. The Bank has so far failed to comply with the law by reporting to the Comp troller its condition on the 1st of April. We, therefore, know nothing of its condition since its report on the 9th of January last, which was reported to the Comptroller as follows:

3. April 19, 1860 Fayetteville Observer Fayetteville, TN
Article from Fayetteville Observer, April 19, 1860

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DIRECTORS. P. Fay, Bedford County. " G. P. Baskette, " J, L. Scudder, " W. J. Whittborne, " A. L. Landiss, " G. W. Cunningbam, B. II. Berry, Lincoln Counry. " T. C. Goodrich Franklin. W. C. Handly, Marshall. W. P. Davis, Coffee. A. Maxwell, Shelbyville Expositor. MonetaryThe throwing out by our Banks of the notes of the Lawrenceburg Bank during the week has excited some attention. It WAS thought that this Bank had been prudently managed since the general suspension in 1857, but knowing ones assert that it has been upheld by interested parties and has been doing a fictitious business. For ten days or two weeks the notes of the Lawrenceburg Bank have been in bad odor at Memphis, the agency there having failed to redeem them for want of funds. The Bank is reported broke and the break is stated to be a bad one. The Bank has S0 far failed to comply with the law by reporting to the Comptroller its condition on the 1st of April. We, therefore, know nothing of its condition since its report on the 9th of January last, which was reported to the Comptroller as follows: Assets-Bills Receivable $84,606 98 Real Estate, Banking House, &c., 3,600 00 807 55 Due from Banks Notes of other Banks 1,138 00 Coin 20,266 45 110,418 98 Total, $50,000 00 LIABILITIES-Capital Stock 120 00 Deposits Undivided Profits 3,557.00 Circulation 56,741 00 Total $110,418 98 The Lawrence Journal of this date makes no reference whatever to the Bank. Rather ominous. In the present state of the matter we would advise no one to take the notes of the Bank.-Union & Amer.

4. April 20, 1860 The Athens Post Athens, TN
Article from The Athens Post, April 20, 1860

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Lawrenceburg Bank. We find the following in regard to this institution, in the Nashville Union and American of the 15th : The throwing out by our Banks of the notes of the Lawrenceburg Bank during the week has excited some attention.— It was thought that this Bank had been prudently managed since the general suspension in 1857, but knowing ones assert that it has been upheld by interested parties and has been doing a fictitious business. For ten days or two weeks the notes of the Lawrenceburg Bank have been in bad odor at Memphis, the agency there having failed to redeem them for want of funds. The Bank is reported broke and the break is stated to be a bad one. The Bank hasso far failed to comply with the law by reporting to the Comptroller its condition on the 1st of April. We, therefore, know nothing of its condition since its report on the 9th of January last. The Lawrenceburg Journal of this date makes no reference whatever to the Bank. Rather ominous. In the present state of the matter we would advise no one to take the notes of the Bank.

5. April 21, 1860 The New York Herald New York, NY
Article from The New York Herald, April 21, 1860

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The Town or Lewisburg, Ark., Destroyed by Fire. LOUISVILLE, Ky., April 20, 1860, The Memphis Enquirer of the 17th inst. reports that the town of Lewisburg, Conway county, Ark., was entirely destroyed by fire several days since. No particul are, as yet, received. The Lawrenceburg Bank of Tennessee has suspended. The cashier says it will be all right again in a few days.

6. April 21, 1860 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, April 21, 1860

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The Town of Lewisburg, Arkansas, Destroyed by Fire. LOUISVILLE, Ky., Friday, April 20, 1860. The Memphis Enquirer of the 17th inst., reports that the Town of Lewisburg, Conway County, Arkansas, was entirely destroyed by fire, several days since. No particulars are as yet received. The Lawrenceburg Bank of Tennessee has suspended. The cashier says it will be all right again in a few days.

7. April 21, 1860 The Press and Tribune Chicago, IL
Article from The Press and Tribune, April 21, 1860

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Bank Failure. The Lawrenceburg Bank of Tennessee has suspended. The Cashiersays it will be all right in a few days.

8. April 23, 1860 Evening Star Washington, DC
Article from Evening Star, April 23, 1860

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ID On Thursday, the Baltimore police board made a formal demand on Mayor Swann. for the control of the police force, &c., in accordance with the new law. The Mayor yielded to the decision of the courts, and duly surrendered his police powers. 0 The Lawrenceburg Bank of Tennessee has suspended. The cashier says it will be right again in a few days. ID The Court watering-place of Napoleon and Eugenie is to be changed from Biarritz to Nice.

9. April 23, 1860 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, April 23, 1860

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Town of Lewisburg, Ark., destroyed by Fire. LOUISVILLE, Ky., April 20.-The Memphis Enquirer, of the 17th inst reports that the town of Lewisburg, Conway county, Ark., was entirely destroyed by fire several days since. No particulars are, as yet received. The Lawrenceburg Bank of Tennessee has suspended. The cashier says it will be all right again in a few days.

10. April 24, 1860 The Evansville Daily Journal Evansville, IN
Article from The Evansville Daily Journal, April 24, 1860

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Varieties. Savoy, which has been annexed to France, contains an area of 2,472 square miles and a population of 320,450. "WHAT'S in a dress? says a popular writer. Sometimes a great deal, and sometimes a precious little THE Southern Illinois papers are urging the establishment of a National Foundery at Fort Massac. THE woman who gives birth to two male children is like the world-renowned banking firm of London-she is Baring Brothers. [Lou. Jour. THE delegates to Charleston next Monday will luxuriate on fresh vegetables, and some of the candidates will realize the tallest kind of beats.-Lou. Jour. THE citizens of Alexandria, Ky., have purchased the property of a man named Collier and ordered him to leave, he having been caught tampering with slaves. THE winter wheat in the counties of Manitowoc and Sheboygan has been SO badly killed, that in many places the farmers have plowed up and are putting in spring wheat. 10" Mr. Samuel Gronendyke, sen., of Eugene, Ind., died in New Orleans on the 19th He was one of the most enterprising business men of Eugene. 1,680,000 acres of alternate sections of Public lands in Michigan are to be sold in July and August under the Railroad act of 1859, the minimum price of which is $2 50 per acre. WHOLE TOWN DESTROYED.-The Memphis Enquirer learns that the village of Lewisburg, in Conway county, Ark., was entirely destroyed by fire a few dayssince, but could get no particulars. ISL The pursuit of knowledge is thought to be a very elevating business, but, then, it ean't be denied that those who follow it with the greatest assidnity are getting lore down all the time.-Lou. Journal. A GREAT many surmises have been formed about the oil that is being found below the surface of the earth in Pennsylvania. We suppose it has been put there by nature to grease the axis that the earth turns on. A NEW county has been created in Pennsylvania from parts of Clinton, Potter, McKean, and Elk counties, and called "Cameron," in compliment to the United States Senator from that State. The four counties from which the new one has been taken do not contain more than 6,200 voters. TORNADO AT FALMOUTH, Ky.-A terrible tornado passed over Falmouth on the Kentucky Central railroad on Friday evening. It was of SO tempestous and violent a character as to cause the unroofing of several houses, among them being the Catholic church. A LADY who had read of the extensive manufacture of odometers, to tell how far a carriage had been run, said she wished some Connecticut genius would invent an instrument to tell how far busbands had been in the evening when they "just stepped down to the postoffice, or " went out to attend a caucus." Many of the candidates for the VicePresidency before the Cincinnati Convention in 1856 are dead; Boyd, Aaron V. Brown, Rusk, Dobbin, and Quitman among the number, but none of them are deader than the successful candidate for the Presidency, James Buchanan. The White House has proved literally the grave of his reputation as a statesman.-Lou. Jour. THE snuff dipping" fair ones, who have hitherto been allowed to chew the bitter end without molestation, are now the subjects of comment in all parts of the country. The practice is much more common at the North than had been believed. The Davenport (Iowa) Gazette says that one tobacco dealer in that city sells five or six barrels of "dipping' snuff a year. MORE AID FOR MOUNT VERNON.-Although Mount Vernon is now fairly in the hands of the Ladies' Association, am additional fund,-about $140,000,-is required to maintain the buildings in repair and the grounds in good order. The receipts of visitors will, it is estimated, yield from $1500 to $2,000 for this purpose, but an annual income of from $8,000 to 10,000 will be required to necover all the expenses. To PROTECT SHEEP FROM DoGs.-An Indiana sheep farmer says that a number of sheep wearing bells in any flock, will keep away dogs-be wouldallow ten bell sheep to every hundred or hundred and fifty. hen sheep Bille- they run together in a compact body in which act all the bells are rung at once, which frightens the dog, or makes him think some one is on his track, 90 he leaves without taking his mutton. LAWRENCEBURGH (TENN.) BANK.-The Nashville Gazette says. The notes of this bank seem to be on a dead drag, but we cannot believe there is just cause for the bad repute into which they have suddenly fallen. We understand that a banking gentleman in this city yesterday received a letter from the Cashier of the Lawrenceburgh Bank, stating the bank was at present compelled to suspend, but would be all right again in a few days. Hope she will. RICHARD S. COXE. Esq., of Washington, has written a letter to the National Intelligencer, in which he states that in 1773-74, among the vessels loaded with tea which

11. April 27, 1860 Burlington Free Press Burlington, VT
Article from Burlington Free Press, April 27, 1860

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TOWN DESTROYED BY FIRE.-LOUISVILLE, Ky., April 20.-The Memphis Enquirer of the 17th inst., reports that the town of Lewisburg, Conway County, Arkansas, was entirely destroyed by fire several days since. No particulars are as yet received. The Lawrenceburg Bank of Tennessee has suspended. The Cashier says it will be all right again in a few days.

12. April 27, 1860 Union County Star and Lewisburg Chronicle Lewisburg, PA
Article from Union County Star and Lewisburg Chronicle, April 27, 1860

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fire several days since. No particulars are as yet received The Lawrenceburg Bank of Tennessee has suspended. The cashier says it will be right again in a few days. The proposition for a State Government in Nebraska, proves to have been voted down by 300 majority. BALTIMORE, April20.-Thenew police force appointed by the Police Commissioners, entered on their duty to-day, superceding the police appointed by the Mayor. PROVIDENCE, R. I. April 20.-The schooner Alpacker, from Port Ewen for this port, loaded with coal, foundered on Tuesday last off Thimble Island. All hands perished. An additional $100,000 having been raised, it is said that the Great Eastern, under command of Mark F. Lay, will undertake a trip to America this season. A very bad storm passed over Carlinsville in Illinois last week-destroying many houses, and doing much damage. The revelations of political corruption made before Mr. Covode's Investigating Committee, are stirring up our Democratic friends awfully. Their cries are pitiful, and their scoldings comical. The Albany Journal says of New York "The Spring Elections throughout the State show that nothing but the "skin and bones" of the Democratic party are left. Through these, the March and April winds played requiums. Returns show heavy Republican gains. Beverly L. Clarke, a U.S. Minister to Central America, is dead. His two predecessors also died in that sickly land. The Baltimore "Clipper," the organ of the Cowboy or "Third Party" is trying to frown down the Republican State Convention called to meet in that city. It invokes the popular wrath. Wm. Cost Johnson, one of the most talented Whig friends of Henry Clay, has died, in Maryland, a victim to intemperance. On the first of May, the General Conference of the Methodist Episcopal church of the United States will hold its quadrenial session in the city of Buffaloe. The "spiritual mediums" have been consulted as to the pugilistic fight in England. One said Heenan was whipped, and the other said Sayers was!

13. April 27, 1860 The Weekly Pioneer and Democrat Saint Paul, MN
Article from The Weekly Pioneer and Democrat, April 27, 1860

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The News. THE House of Representatives by a vote of 74 to 72 has concurred in the Senate amendment to the military academy bill, by which the President is authorized to call into service in Texas aregiment of mounted volunteers. SENATOR SEWARD was to have left Washington on Monday, on a trip north. A MAJORITY of the committee on election of the House of Representatives, have reported in favor of Mr. HOWARD and against Mr. COOPER, the sitting member, in the Michigan contested case. Messrs. GARTRELL, STEVENSON and BOYCE unite in the minority report. A TORNADO passed over Carlinville, Ill., on the 16th inst., unroofing and blowing down houses, barnes, trees and fences. The roof of the Lutheran church was blown some distance; the walls were much injured. The roof of a dwelling was carried nearly a mile and a half through the air. Children were picked up by the wind and carried considerable distances. Stock was killed in every direction. A man named LOVE was killed by lightning. Many persons were wounded, and the destruction of property is very great. A Sr. LOUIS dispatch to the Cincinnati Commercial says: "Public attention is concentrated considerably to-day upon the trial of Mrs. GEO. W. ONDERDONK for adultery. Her accuser is D. W. PRICE, a merchant from Denver city, whom she has caused to be arrested on a charge of attempt to commit a rape. The case will probably be as notorious as the famous CARSTANG breach of promise case. The parties are respectably connected. THE Memphis Enquirer of the 17th reports Lewisburg, Comsay county, Arkansas, entirely destroyed by fire several days since. No particulars. THE Lawrenceburg bank of Tennessee has suspended. The cashier says it will be all right in a few days. THE Republican State Convention of New York, to elect delegates to Chicago passed the following resolution RESOLVED, That the Republican Electors of the State of New York, represented in this Convention, present the name of William H. Seward to the Chicago Convention for the office of Pr sident, not only in obedience to a universal and unbrokenpublic sentiment, but because they regard him as eminently the representative of the principles upon which the Republican Party is based, and to whose hands all the great interests of the nation may be safely committed. THE trial of young BROWNLOW, son of the famous or notorious Parson BROWNLOW, for the murder of a fellow student, JAMES W. REESE, in Emory and Henry College, has resulted in his acquittal. The verdict was hailed with great applause by the audtory in the Court room. THE U. S. steamer Roanoke will land the Japanese embassy at the city of New York, in accordance with the original order of the Secretary of the Navy. They would have been brought directly to Washington, as recommended by Consul-General HARRIS, but for the apprehended difficulty of piloting the vessel through the channel of the Potomac. IT is telegraphed from Washington, that the Republican Senators have had a conference to take into consideration the subject of the Nicaragua treaty, which, it will be recollected, was rejected and afterwards reconsidered. It is understood that their object is to modify the objectionable clauses, so that the President cannot use the United States forces for the protection of the property and persons of Americans in that country, without the consent or authorization of Congress. Some of them are desirous of applying a similar principle in the Mexican treaty. Without the Republican votes these treaties cannot be ratified therefore the Democrats are not disposed to press them without affording the Republicans full time to make their suggestions. THE Missouri and Western Telegraph Company was organized at St. Louis on the 18th. This company owns the exclusive right to use the MORSE, HOUSE and HUGHES telegraph patent in southern Missouri, Kansas and a large portion of Nebraska. It is their design to push forward their northern and southern extensions as rapidly as possible, and will be prepared to connect with a northern or southern line to California, or botb, if two are built. THE Republican State Convention of New York has elected the following delegates at large to the Chicago convention : WM. M. EVARTS, PRESTON KING, JOHN L. SCHOOLCRAFT and HENRY R. SELDEN. THE London Watchman announces that the income of the (English) Wesleyan Mis-

14. April 28, 1860 The Press and Tribune Chicago, IL
Article from The Press and Tribune, April 28, 1860

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Financial and Commercial. MONETARY. FETDAT Eventse, Aprll 27, 1860, The money market is very quiet to-day in all its relations. Exchange is steady at the banks at 18; but there is a general desire to sell, showing weakness at quotations. The general money market is working much easier. At this season the funds of the banks are either absorbed, or held in reserve for produce operations; but the few note-brokers still left outside the bauks find it difficult to place their funds ou satisfactory terms. We were assured by one of them to-day that undoubted first-class paper could be placed at ten per cent. General quotations 1@H per cent. per month. Long loans on real estate security have, in some instances, gone begging at eight per cent. Our business men report collections healthy and gooi, with searcely an exception. FAILTUES:-Mesers. Al'en, Neal & Co., private bankers, of Boston, failed on the ITTHINST. Liabilities small. Th Central Bank of New York, at Utica, failed and went into the bands of a receiver on the 14th inst. The Lawienceburgh Bank, of Tennessee, a concern established under the Free Banking Law of that State, is reported failed. Circula tian about $250,000; notes said to be worthless. -Metriy's Chicago Bank Note Reporter. Docurrer Basks.-Clinton Bank, Westport, 3rd.; Fatmers' and Nerchants', Greensboro', Md.: Al egh ny Countr Bank Cumber:and, Md; Bank of the Empire State, Georgia; Back 01 Crawford c unty, Meadville, Pa.; Central Bank of Penr. Hollidaysburgh, Pa; Northwestern Back, .nneylvania; 1ioga Countr Bank. Weltiborough, Pa.: Bank of Weston, Virginia; Bank of Mana-Fa, Ft. Royal, Va; Bank of Kan nwhs, Malder, Va; Bank of Lawrence County, Penuly Monengabe's Valley Bank. Penasy Ivania; Bank of Clinton, Canada; Whitfield Bank, Daston, Gen. FRAUDS AND WORTHLE-S.-American Bank, Dover, lad; Bank of Commerce, Chicago, III; Browney Ne Bank and Land Co., Brownsville, Nob; Exchange Bank, Hurtford, Ind.; Farmers' and Mechanes' Bank, Cannelton, Ind.; Munu facturers' Bank, Hartford, Ind.; Traders' Bank, Barbugton, Vt; Wisconsin Miner's Bank, Pec weena, Wis; Farmers' and Drovers' Back, Petersburgh, Ind; Drovers' Bank, Columbia City, Ind., Traders' Bank. Kulumazoo, Mich.- - McEtroy's Chicago Bank Note Rep rier. NEW ORLEANS "ANES.-The following is the statement of the New Orlenna banks for the last and previous weeks:

15. May 3, 1860 The Weekly Ottumwa Courier Ottumwa, IA
Article from The Weekly Ottumwa Courier, May 3, 1860

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The Lawrenceburg Bank of Tennessee has suspended. The Cashier says it will be all right in a few days.