20740. Peoples Bank (Lebanon, TN)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
August 12, 1893
Location
Lebanon, Tennessee (36.205, -86.346)

Metadata

Model
gpt-5-mini
Short Digest
70fe6e35

Response Measures

None

Description

Newspapers (Aug 12, 1893) report People's Bank (a state institution in Lebanon, TN) adopting a rule to pay only 5% of deposits and give certified checks for the balance—a partial suspension/temporary restriction in response to a run on Nashville's Fourth National Bank. No mention of permanent closure or receivership; appears to be a temporary measure.

Events (1)
1. August 12, 1893 Suspension
Cause
Local Banks
Cause Details
Run on the Fourth National Bank in Nashville prompted Lebanon state banks to limit cash payouts to 5% and issue certified checks for the remainder.
Newspaper Excerpt
The People's Bank ... have adopted a rule to pay only 5 per cent. of deposits and give certified checks for the balance.
Source
newspapers

Newspaper Articles (3)
1. August 13, 1893 The Morning News Savannah, GA
Article from The Morning News, August 13, 1893

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Article Text

THE FOURTH NATIONAL. The Rush Resumed, But Soon Peters Out. Nashville, Tenn., Aug. 12.-The run on the Fourth NatIonal Bank was resumed this morning when that institution opened its doors, but by noon it was practically over, as there were less than a dozen men standing at the paying teller's desk. DEPOSITS AS NUMEROUS AS PAYMENTS. The deposits by substantial business men were as large as the amount drawn out by others. There is no uneasiness now, and the crisis is evidently over. The People's Bank and the Bank of Lebanon, two state institutions at Lebanon, have adopted a rule to pay only five per cent. of deposits and give certified checks for the balance.

2. August 13, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, August 13, 1893

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Article Text

NASHVILLE BANKS. NASHVILLE, Tenn., Aug. 12-The run on the Fourth National bank was resumed this morning. but by noon was practically over. The crisis is evidently over. The Peoples' bank and the Bank of Lebanon, two state institutions, at Lebanon: have adopted rules to pay only 5 per cent of deposits, and give certitied checks for the balance.

3. August 13, 1893 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, August 13, 1893

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Article Text

Nashvil e's Crisis Over. [By telegraph to the Dispatch.] NASHVILLE, TENN., August 12.-The run on the Fourth National Bank was resumed this morning when that institution opened its doors, but by noon it was practically over, as there were less than a dozen men standing at the paying-teller's desk. The deposits by substantial business men were quite aslarge as the amount drawn out by owners. There is no uneasiness now and the crisis is evidently over. The People's Bank and the Bank of Lebanon. two State institutions at Lebanon. have adopted a rule to pay only 5 per cent. of the deposits and give certified checks for the balance.