20751. Citizens Bank (Maury City, TN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 12, 1915
Location
Maury City, Tennessee (35.815, -89.226)

Metadata

Model
gpt-5-mini
Short Digest
61146e88

Response Measures

None

Description

Article (1915-01-15) reports 'The Citizens' bank of Maury City ... closed its doors Tuesday.' State superintendent report (Jan 1916) explicitly states 'Early in January the Citizens Bank, Maury City, failed' and depositors accepted a 70% compromise approved by the court. I infer the closure was permanent and part of a failure/liquidation process; no run is reported in the articles. Date for suspension inferred from newspaper line (Tuesday prior to Jan 15, 1915 -> 1915-01-12).

Events (2)
1. January 12, 1915 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank failed/closed in early January; unusual local conditions and probable costly litigation led depositors to accept a 70% compromise settlement approved by the court.
Newspaper Excerpt
The Citizens' bank of Maury City, Crockett county, closed its doors Tuesday.
Source
newspapers
2. January 21, 1916 Other
Newspaper Excerpt
Early in January the Citizens Bank, Maury City, failed. ... it was the choice of the depositors that a compromise settlement of 70 per cent be effected. This plan was carried out after being submitted to and approved by the court.
Source
newspapers

Newspaper Articles (3)
1. January 15, 1915 The Parisian Paris, TN
Article from The Parisian, January 15, 1915

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Article Text

Governor Tom C. Rye, of Paris. News Notes, State and Nation. The refugee colonies in Holland ments, $782,477. In the items of are crowded with 1,200,000 dedisbursement the report shows under the head of maintenance pendent Belgians. of convicts, $100,091.24; receipts Twenty-one babies were killed $121,112.87. by shells when Germans bombarded the unfortified town of At Evansville. Ind., Miss Lula of Scarborough. F. Leggett, a pretty blonde, married B. Kuroda, a Japanese cook. John Harris, aged 93, a Confederate veteran, walked sevenThe supreme court of Missisteen miles to Huntsville, Ala., to sippi yesterday held that if a do a days trading. person loans liquor to a person with the expectation of having The foot and mouth quarantine it returned it is not a vielation of in Southern and Western Kenthe prohibition law. tucky will be lifted this week, The Citizens' bank of Maury according to information from City, Crockett county, closed its Washington. its doors Tuesday. Gen. Villa and Gen. Scott met Tennessee has 15,700 registerrecently on the American side of ed automobiles. the international bridge at El Paso to discuss means of endTen thousand horses willl be ing the border warfare at Naco, shipped from East St. Louis to Arizona. the Itnlian army, while shiploads of mules are being sent Theodore E. Schaeffer, 46, a from New Orleans to the British Paducah railroad man, was killed army. in the I C. shops when suspended car trucks fell upon him. J. L. Levine, of Chattanooga, democrat, won his seat in the Buckley & Buckley, general legislature, in the contest against merchants near Palmersvill John McGill, republican. have made an assignment. At Camden the Benton County Vital Statistics. bank and the First National, The bureau of vital statistics have consolidated. has issued its report for the At Paducah S. K. Greer was month of November. According given a penitentiary sentence of to the report there were 28 17 to 21 years for killing Charles deaths and 37 births in Henry Troutman, a druggist last spring. county in that month. The State death rate for the month At one stroke of the pen Gov. Blease, of South Carolina, has per 1,000 population was 14.07; birth rate, 24.08 per 1,000. just pardoned 1,500 convicts, making a total of 3,165 he has pardoned in four years. LASHLEE HOTEL, CAMDEN, George Honan, notorious Memphis gambler, shot and fatally wounded Grace Frazier, and was 1 IS DESTROYED BY FIRE then instantly killed by Robert S Embleton, a boook-keeper. The The Lashlee hotel at Camden tragedy occurred in a house of ill with nearly all its contents and fame. e worth perhaps $6,000 burned earThe Bank of Trenton and the ly Tuesday morning, the fire t Farmers Exchange bank, of breaking out while the guests Trenton, have consolidated. were at breakfast. The flames n first broke out in a room on the Cotton quotations show an adn second floor and spread rapidly. vancing tendency during the f In addition to the hotel building week, being quoted on the marke ets at 71-2 to 8 cents, delivered. proper all the outhouses were d destroyed except the wood house. J. R. Moore, a prominent HopThe insurance on the property kinsville photographer, is charg. was about $4,000. No one was ed with vioiating the white slave injured. act. The complainant is Lillie This is the second hotel that Waters, a Montgomery county, W. A. Lashlee has lost in the Tennessee girl. e past seven years. The building The quarterly report of the burned was a large two-story d state treasurer shows total reframe and was formerly known as the Arnold house. ceipts of $1,166,152, disburse-

2. January 21, 1916 McNairy County Independent Selmer, TN
Article from McNairy County Independent, January 21, 1916

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Article Text

CONFIDENCE IN BANKS INCREASES RESOURCES OF INSTITUTIONS MAKE BIG GAINS DURING THE PAST YEAR. RESOURCES ARE INCREASING Few Failures Are Due to Carefulness of Bank Officials-State Department Does Good Work-Capitol News. -Nashville. The report in part of J. L. Emerson, superintendent of state banks, to Gov. Rye is as follows: "Conditions were generally satisfactory during 1915. Directors and committees were more active, managers were more careful, and the banking business was more prosperous. There eare now 399 state banks and eight branch banks. Eight hundred and thirty-eight examinations were made during the year. Two published state. ments were called for, one on March 30 and the other on Nov. 10. A com parison of the March and November figures shows that the total resources of the banks increased $7,990,006.58, deposits increaserd $6,810,914.38, and reserve increased $1,085,490.78. "With reference to the bank failures during the year, the following encouraging facts are to be noted: The Planters Bank and Trust Company, of Tullahoma, failed, but depositors were paid in full within a very short time, and a trustee representing the stock holders is now liquidating the remain ing assets. On Feb. 4 the Peoples bank, Collierville, became involved in some difficulties and closed its doors. Its troubles were soon adjusted, how. ever, and it reported on Feb. 18, involving no loss to depositors. "Early in January the Citizens Bank, Maury City, failed. Every effort was at once made to secure rapid liquidation, but since some unusual local conditions made it seem probable that long and expensive litigation would be necessary, it was the choice of the depositors that a compromise settlement of 70 per cent be effected. This plan was carried out after being submitted to and approved by the court. "There are some unfinished matters in connection with banks that failed during 1914. "The assets of the Citizens' bank, Huntingdon, were sold to the Farmers State bank, the latter assuming the payment of depositors. Fifty per cent already has been paid, another dividend will be paid soon, and the pay. ment of the full amount due creditors will unoubtedly be made within the course of a few months. "Another dividend of 12 per cent, making a total of 87 per cent, has been paid the creditors of the Van Bu. ren bank, Spencer, and there is a satIsfactory prospect that payment of the remaining 13 per cent will be made this year. "I am still acting as receiver of the Mercantile bank, Memphis, and suits for the recovery of large sums are still pending. "In the case of the Bank of Hum boldt, liquidation is very slow, but suit has been brought and is now pending against the directors for an amount sufficient to pay all creditors in full. "The personnel of the department has had no changes and is composed of J. L. Emerson, superintendent; John J. Heflin, assistant; D. C. Borden, A. J Williams, J. F. Joyner, H C Crumbliss and N B. Gentry, examiners; J. M. Turrentine, secretary."

3. January 21, 1916 The Fayette Falcon Somerville, TN
Article from The Fayette Falcon, January 21, 1916

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Article Text

o GOOD SHOWING IN ANNUAL RE. PORT OF J. L. emerson, THE STATE superintendent. EMERSON SUBMITS REPORT 1 Few Failures Are for Most Part Quick. ly Adjusted to Satisfaction of Depositors-News at the State Capitol. S The report in part of J. -Nashville. L. Emerson, superintendent of state banks, to Gov. Rye is as follows: "Conditions were generally satisfactory during 1915. Directors and committees were more active, managers were more careful, and the banking business was more prosperous. There e eare now 399 state banks and eight y branch banks. Eight hundred and thirty-eight examinations were made 0 during the year. Two published statements were called for, one on March g e 30 and the other on Nov. 10. A com e parison of the March and November figures shows that the total resources of the banks increased $7,990,006.58. -deposits increaserd $6,810,914.38, and e reserve increased $1,085,490.78. ts "With reference to the bank failures er during the year, the following encoure aging facts are to be noted: The ePlanters Bank and Trust Company, of oTullahoma, failed, but depositors were ls paid in full within a very short time, en and a trustee representing the stock he holders is now liquidating the remain eing assets. On Feb. 4 the Peoples ne bank, Collierville, became involved in on some difficulties and closed its doors. Its troubles were soon adjusted, how ever, and it reported on Feb. 18, in ut volving no loss to depositors. he "Early in January the Citizens Bank his Maury City, failed. Every effort was he at once made to secure rapid liquida at tion, but since some unusual local contht ditions made it seem probable that his long and expensive litigation would be on necessary, it was the choice of the de. ent positors that a compromise settlement bse of 70 per cent be effected. This plan en was carried out after being submitted en to and approved by the court. led "There are some unfinished matters the ved in connection with banks that failed during 1914. ver les"The assets of the Citizens' bank owHuntingdon, were sold to the Farmers the State bank, the latter assuming the ose payment of depositors. Fifty per cent joy already has been paid, another divi imdend will be paid soon, and the pay tenment of the full amount due creditors inwill unoubtedly be made within the ace. course of a few months. "Another dividend of 12 per cent any making a total of 87 per cent, ha of been paid the creditors of the Van Bu ere ren bank, Spencer, and there is a sat ons isfactory prospect that payment of th able remaining 13 per cent will be mad verthis year. and "I am still acting as receiver of th the Mercantile bank, Memphis, and suit It pending. for the recovery of large sums are stil of "In the case of the Bank of Hun nce boldt, liquidation is very slow, but su in has been brought and is now pendin that against the directors for an amount hall sufficient to pay all creditors in ful the "The personnel of the departmer has had no changes and is composed hod of J. L. Emerson, superintendent; John Heflin, assistant; D. C. Borden, A. emWilliams, J. F. Joyner, H C Crumblis be and N B. Gentry, examiners; J. 1 Turrentine, secretary."