Mercantile National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 10540
Charter Number: 10540
Start Date: August 14, 1915
Location: Memphis, Tennessee (35.150, -90.049)

Metadata

Model: gpt-5-mini
Short Digest: 0c8eabfd

Response Measures

None

Description

Article reports the Mercantile National Bank of Memphis as failed and in receivership; a receiver has brought suit alleging the former president used bank funds in speculation. No mention of a depositor run or temporary suspension/reopening — bank appears to have failed and entered receivership (closure).

Events (1)

1. August 14, 1915 Receivership

Newspaper Excerpt: Receiver for failed Mercantile National Bank of Memphis has brought suit against Hubbard & Co., and Jenks, Gwynee & Co. for $616,895 commissions paid them in speculations by former Pres. Raine, who is alleged to have used the bank's money.
Source: newspapers

Newspaper Articles (1)

1. August 14, 1915 Bisbee Daily Review Bisbee, AZ

Article from Bisbee Daily Review, August 14, 1915

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Article Text

Receiver for failed Mercantile National Bank of Memphis has brought suit against Hubbard & Co., and Jenks, Gwynee & Co. for $616,895 commissions paid them in speculations by former Pres. Raine, who is alleged to have used the bank's money.