20738. Bank of Middle Tennessee (Lebanon, TN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
May 22, 1890
Location
Lebanon, Tennessee (36.205, -86.346)

Metadata

Model
gpt-5-mini
Short Digest
95ac0c33

Response Measures

None

Description

Contemporary newspapers report the Bank of Middle Tennessee has made an assignment (May 22, 1890) with liabilities $90,000 and assets $65,000. This indicates insolvency and assignment to a receiver (permanent closure). No run or depositor panic is reported in the articles.

Events (2)

1. May 22, 1890 Receivership
Newspaper Excerpt
The bank of Middle Tennessee, located in Lebanon, has made at assignment. Liabilities about $90,000; assets $65,000. This was a state bank.
Source
newspapers
2. May 22, 1890 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank made an assignment due to insolvency: liabilities ~$90,000 exceed assets ~$65,000.
Newspaper Excerpt
The Bank of Middle Tennessee, located in Lebanon in that state, has assigned. Liabilities $90,000; assets $65,000.
Source
newspapers

Newspaper Articles (3)

Article from Morning Journal and Courier, May 23, 1890

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Article Text

TELEGRAPHIO JOTTINGS. The deaths resulting from the rioting at Pilsen in Austria now number sixteen. Mr. Lincoln, the American minister at London, has resumed the duties of his office. The emperor of Germany has subscribed twenty thousand marks to the Evangelical missions for a hospital at Zanzibar. Trixie won the 2:33 trotting race at Point Breeze yesterday, and Aline the 2:23. Best time, respectively, 2.271/4 and 2:221/4. The comptroller of currency has issued a call to the national banks for a report of their condition at the close of business May 17. The bank of Middle Tennessee, located in Lebanon, has made at assignment. Liabilities about $90,000; assets $65,000. This was a state bank. The steamer Wieland, which has arrived at Hamburg from New York, passed twentyfour icebergs on May 12 in latitude 47.47, longitude 48.44. Ellis Allen, confidential clerk of the Austin Investment company, with headquarters in Kansas City, Mo., has disappeared with $20,000 of the company's money. Charles Geer, who left Willimantic Saturday for Rhode Island, was killed by the cars at Wickford yesterday. The body was brought to Willimantic yesterday. Hon. Solon A. Carter, state treasurer of New Hampshire, reports the state debt at the close of the fiscal year $2,481,453, a net reduction during the last twelve months of $150,862. Instructions eimilar to those sent to the captain of the Bear were sent yesterday to the commander of the Rush at San Francisco to proceed to Alaskan waters and protect the seal fisheries there. The schooner Belle Higgins of Bath, Me., which was run down and badly damaged by the steamer La Champagne on February 25, has sued the steamship company for $35,000 damages. The trial began yesterday. Augustus Crocker, who was born at Tann= ton, Mass., in 1841, his father being a prominent manufacturer, died yesterday at St. Luke's hospital in New York of Bright's dieease. He has a brother living in Boston. Harry W. Bickford, employed as a clerk by Benjamin R. Bryant & Co., grocers at Boston, was arrested at his home in Cambridge yesterday charged with the embezzlement of $1,345 from that firm during the past six months. The governor of Massachusetts has nominated as world's fair commissioners Francis W. Breed of Lynn and Thomas E. Prootor of Boston, with George P. Ladd of Spencer and Albert C. Houghton of North Adams as alternates. The Nefoundland schooner Margaret became a total wreck yesterday near Little Lorain, C. B. She was from St. Johns for Sydney. When the disaster occurred it was very foggy, with a heavy sea, and a strong breeze was blowing. The Chicago, Burlington and Quincy railroad yesterday morning continued the war in passenger rates by reducing its rate from afdoes not Omaha to Chicago to $5. This fect the rate from Chicago to Omaha, which is maintained at $8. h Governor Ladd of Rhode Ieland has appointed the following gentlemen commissioners of the world's fair from Rhode Island: a Lyman B. Goff of Pawtucket, republican,ar Gardiner C. Sims of Providence, democrat. e Alternates, Jeffrey Hazard of Providence, t republican, and Lorrilard Spencer of Newa port, democrat. i, Representative Dingsley, from the commite tee on merchant marine and fisheries, favorably reported to the house yesterday the bill e to place seamen, shipped on American ves. e sels, engaged in trade with Mexico, West y Indies and Newfoundland under the same reo strictions as those shipped in American ves1 sels engaged in the foreign trade. , Mr. Gladstone, in a letter on the licensing s a question, says that the mere introduction in is parliament of the license bill which provides for the compensation of loss of licenses has already increased the value of publicans' property by probably £50,000,000. The f measure, he says, is the heaviest blow ever n struck at the cause of temperance.


Article from The Semi-Weekly Tribune, May 24, 1890

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Article Text

A Bank Failure. LOUISVILLE, May 22.-The Bank of Middle Tennessee, located at Lebanon in that state, has assigned. Liabilities $90,000; assets $65,000.


Article from Iron County Register, January 8, 1891

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Article Text

AN EVENTFUL YEAR. Many Things That Happened During 1890. RECORD OF NOTABLE OCCURRENCES. Disastrous Business Failures-Fatal Casualties and Startling Crimes-Leading Political and Social Events-Necrology-Disastrous Fires, Etc. BUSINESS FAILURES. [INVOLVING $300,000 AND OVER, ON BANKS GENERALLY.] Jan. 6-R. Deimel & Co., Chicago furniture dealers: $300,000. Jan. 14-Smith Middlings Purifier Co., Jackson, Mich.: $484,000: Jan. 16-Bank of H. R. Pierson & Son, Albany. N. Y. Jan. 21-State Bank of Irwin, Kan. Jan. 27-John B. Lollande, New Orleans, cotton merchant: $600,000. Feb. 4-Joseph P. Murphy, Phila delphia, manufacturer of cotton and woolen goods: $500.000. Feb. 11-Franklin Woodruff & Co., dealers in fish and salt. New York City; $400,000. Mar. 13-Harrison & Loder, wholesale dry goods, New York City: $350,000. Mar. 19-John F. Plummer & Co., wholesale dry goods, New York City: $1,000,000. Apr. 7-George K. Sistare's Sons, bankers. New York City; $500,000. Apr. 8-Manhattan Bank, Manhattan, Kan. $561,000. Apr. 17-Louis Franke & Co., silk merchants, New York City: $900,000. , Apr. 30-Bank of America and twelve branches, Philadelphia: $700,000. May 1-Fechheimer, Rau & Co., shirt manufacturers, New York City: $400,000. May 13-Plattsburg Bank. Plattsburg, Mo. May 14-J. F. Reynolds, broker, New York City: $300,000. May 19-Public Grain and Stock Exchange. New York City; largest bucket-shop in United States. May 22-Bank of Middle Tennessee. Lebanon, Tenn. May 23-Owego (N. Y.) National Bank. Jun. 20-Park National Bank. Chicago. Jun. 24-Bank of Hartford. Hartford, Wis. Jul. 29-J. E. Tygert & Co., fertilizer manufacturers, Philadelphia, Pa.: $317,000. Aug. 6-State National Bank, Wellington, Kan. Aug. 27-Potter, Lovell & Co., bankers, Boston: $5,000,000. Aug. 29-City National Bank, Hastings, Neb. Sep. 3-Hoxie & Mellor, Wisconsin lumber dealers. $500,000. Sep. 4-Sawyer, Wallace & Co., New York, Louisville and London, commission merchants and brokers: $2,000,000. Sep. 6-National bank at Kingman, Kan. Sep. 17-Gardner. Chase & Co., bankers and brokers. Boston; $2,000,000. Sep. 27-Bank of Madison, Jackson, Tenn.: $200,000. Oct. 4-Fleming Bros., patent medicine firm, Pittsburgh, Pa.: $500,000. Oct. 10-Indianapolis (Ind.) Car Manufacturing Company: $600,000. Oct. -Wallace, Waggoner & Co., wholesale grocers, Houston, Tex.; $300,0000 J. H. Hagerty & Co.'s bank. Aberdeen, S. D.; $230,000. Oct. 16-R. G. Peters' Salt and Lumber Co., Manistee, Mich. $3,000,000. Oct. 31-Leopold Bros., wholesale clothiers, Chicago, $300,000. Nov. 11-Panic in Wall st., N. Y., caused the failure of brokers Decker. Howell & Co. ($10,000.000): C.M. Whitney & Co. ($300.000), and Daniel Richmond ($200,000) John T. Walker & Co., silk importers, of New York City, $900,000. Nov. 14-Kansas City Packing Co., Armourdale, Kan.: $500,000. Nov. 15-Kansas City Packing & Refrigerating Co., Boston: $1,000,000. Mills. Robeson & Smith, brokers. New York City: $350,000. Nov. 18-P. W. Gallaudet & Co., New York City, brokers: $1,000,000. Nov. 20 -Barker Brothers & Co., bankers, Philadelphia; $3,000,000. Nov. 21-Banking firm of Ragsdale & Co., Oklahoma City. O. T. Nov. 22-First National Bank of Alma, Kan. Bank of Waverly, Waverly, Kan. Nov. 24-Edward Brandon, New York broker: $1,500,000. Thomas Fawcett & Co., extensive coal dealers. Pittsburgh. Pa.: $400,000. Nov. 25-Thomas H. Allen & Co., cotton commission firm. Memphis, Tenn.: $750,000. Nov. 27-H. H. Bell, banker, Duluth, Minn.; $750,000. Nov. 28-B. K. Jamison & Co., bankers and bro kers, Philadelphia: $1,000,000. Dec. 3-Rittenhouse Manufacturing Co., Passaie, N.J.: $800,000. Dec. 5-V. & A. Meyer, cotton dealers, New Orleans: $2,500,000. Delameter & Co., Meadville. Pa., bankers; $400,000 Chicago Safe & Lock Co.: $700,000. Dec. 8-Roberts, Cushman & Co., dealers in bolters' materials, of New York City, $500,000. Dec. 9-American National Bank, Arkansas City. Kan Nightingale Bros. & Knight, silk manufacturers, Paterson, N. J.; $400,000 Whitten, Burdett & Young, Boston, wholesale clothiers: $700,000. Kendriol Bettug