Memphis City Bank - Memphis, TN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 31, 1872
Location: Memphis, Tennessee (35.150, -90.049)

Metadata

Model: gpt-5-mini
Short Digest: c9507b2f

Response Measures

None

Description

Article (New Orleans Republican, 1872-08-01) reports Memphis City Bank suspended on July 31 with liabilities $55,000. No run is mentioned and no reopening or receivership is reported in the provided text. I classify the event as a suspension that likely reflects insolvency (bank-specific adverse condition); permanence is not stated in the article, so closure is inferred but uncertain.

Events (1)

1. July 31, 1872 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank suspended payment; reported liabilities $55,000 and assets unknown, indicating likely insolvency.
Newspaper Excerpt: MEMPHIS, July 31 -The City Bank suspended payment to-day. Liabilities $55,000. Assets unknown.
Source: newspapers

Newspaper Articles (1)

1. August 1, 1872 New Orleans Republican New Orleans, LA

Article from New Orleans Republican, August 1, 1872

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Article Text

MISCELLLANEOUS Robbing a Bank-White Lend Works Burned-Liberal Presidential Electors in Ohio-Tom Ewing on the List-Boll and Army Worms-Sumner's Letter Among Colored Men-Grant at UticaSavannah Quiet-Arrest for Political Disturbance-Colored Jurors-Savan= nah Surveyor Declares for GreeleyMemphis City Bank Suspended-Rain.in Memphis-Senator Wilson-Express Clerk Arrested for Embezzlement. TERRE HAUTE, Ind., July 31. -While a circus company was passing along the street, a thief entered the Prairie City Bank and stole money and checks. ST. LOUIS, July 31.-The white lead and color works of Boucher & Walkewitz totally destroyed to-day by fire. COLUMBUS, Ohio, July 31.-In the Liberal Republican convention, the committee to select presidential electors have chosen General Thomas Ewing on behalf of the Democrats, and August T. Hein on behalf of the Liberal Republicans. MONTGOMERY, July 31.-Boll and army worms are ruining crops in this section. One plantation, which it was estimated three days ago would make 100 bales, is now estimated at fifty bales. There is great depression among the .planters, who consider themselves ruined. Two and a half millions of bales is now the outsido estimate for the growing crop. Summer's letter fell like a bombshell among the colored people. They say they would not be surprised if General Grant next declares for Greeley. UTICA, N. Y. July -The President, with Mrs. Grant and Lieutenant Grant, arrived here to-day. The President was received with official and military honors. He is the guest of Senator Conkling. Ex-Governor Seymour dined with the President at Senator Conkling's this evening. President Grant will reply to the invitation to visit Chattanooga in a few days. SAVANNAH, July 31.-Th street car troubles have entirely ceased, and the city is as quiet as usual. The first two new bales of cotton were received here to-day, one from Florida, by Saunders, Goodwin & Miller, and one from & Bainbridge, Georgia, by W. H. Woods Co. George Washington Wilson, white leader of the Ogeechee wing of Republicans, was arrested by the United States authorities to-day for disturbing the Republican meetg Monday night. The commissioners continued the case until to-morrow. ATLANTA, July 31.-The Senate to-day passed an act allowing colored men who were excluded from jury lists to appeal to judges of the superior courts. The Senate is largely Democratic. John Bowlis, surveyor of the port at Savannah has tendered his resignation and will support Greeley and Brown. MEMPHIS, July 31 -The City Bank suspended payment to-day. Liabilities $55,000. Assets unknown. Election for county officers takes place to-morrow. The canvass has been exceedingly bitter and trouble is anticipated. A special police force will be placed on duty and all saloons will be closed. A glorious rain fell this afternoon, suspending the heated term of ten days' duration. which has been the longest and hottest ever known here. BOSTON, July 31.-Senator Wilson has gone to Indiana. BELFAST, Me., July 31.-The Liberal and Democratic conventions unanimously nominated F. A. Pike for Congress from the Fifth District. . EVANSVILLE, Ind.. July storm prostrated the German Methodist church; four dwellings were damaged and several persons hurt. CINCINNATI, July 31.-H. K. Whittlesy, money receiving clerk of the Adams Express Company in this city, was arrested this borning, charged with the embezzlement of $9000, $8000 of which have been recovered. SAN FRANCISCO, July 31,-It is reported that. an agent was dispatched from San Francisco to a county bordering on Arizona and New Mexico in search of deposits of diamonds and rubies, which were reported years ago. The party has found the deposits, and brought back with them $100,000 worth. Steps will be taken to secure a government patent to the lands, and a company will be formed with a large capital to work them. It is rumored that General George B. McClellan will be pres ident of company. Professor D. C. Gulman, of Yale College, s been elected president of the University of California. Aspinwall dates state that an agent of Costa Rica has left for the United States to purchase a man-of-war, to be stationed at Punta Avenas. Frigates Saranac and California were at Panama. Frigate Wyoming was at Aspinwall on the twenty-first, in charge of the steamer Edgar Stewart. Captain Pennell has been again arrested by the authorities at Aspin wall, but was soon released. Consul Deal has received instructions from the American State Department approving his attention in maintaining the Stewart; but condemning the action of Captain Pennell, of the latter, for not obey ing the orders of the attorney of the owners, and Consul Deal is authorized grant clearance to the Stewart direct to New York, where her owner resides, when said owner sends a new captain to command her. The International Exposition had been opened at Lima. The small pox is prevailing in the small towns of Chili and Pern. LITTLE ROCK, July: -The Governor has issued a proclamation, threatening to declare martial law in Pope county. He refers to the appearance in court there of prisoners and their friends, fully armed, interfering with the proper trial of prisoners, and to the reports that the citizens of Pope county were now in arms, determined to resist the authority of the law and its officers. He says he does not desire to place that [CONTINUED 08 EIGHTH PAGE.I