First National Bank - Murfreesboro, TN

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 1692
Charter Number: 1692
Start Date: October 31, 1907
Location: Murfreesboro, Tennessee (35.846, -86.390)

Metadata

Model: gpt-5-mini
Short Digest: fcf5b33f

Response Measures

Full suspension

Description

OCR in article shows Oct. 81 which is corrected to Oct. 31, 1907 based on publication date (Nov 1, 1907). Article reports a run started after a $20,000 note of the bank's president went to protest and the bank closed its doors to prevent ruin; no reopening is mentioned, so classification is run leading to suspension/closure.

Events (2)

1. October 31, 1907 Run

Cause: Bank Specific Adverse Info
Cause Details: A $20,000 note of the bank's president went to protest, triggering depositor panic and withdrawals.
Measures: Bank closed its doors to prevent ruin.
Newspaper Excerpt: The First National Bank of Murfreesboro, Tenn., closed its doors this afternoon, after a run started because a $20,000 note of its president, W. B. Earthman, ... went to protest.
Source: newspapers

2. October 31, 1907 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Closure followed the run triggered by the president's protested $20,000 note; bank shut down to prevent ruin.
Newspaper Excerpt: The First National Bank of Murfreesboro, Tenn., closed its doors this afternoon... It is declared to be solvent, closing only to prevent ruin.
Source: newspapers

Newspaper Articles (1)

1. November 1, 1907 New-York Tribune New York, NY

Article from New-York Tribune, November 1, 1907

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Article Text

TENNESSEE BANK CLOSED. (By Telegrax to The Tribune.] Nashville, Tenn., Oct. 81.-The First National Bank of Murfreesboro, Tenn., closed its doors this afternoon, after a run started because a $20,000 note of its president, W. B. Earthman, a wealthy lumberman, went to protest. The bank had $200,000 capital and $65,000 surplus. It is declared to be solvent, closing only to prevent ruin. The Earthman Lumber Company is also declared to be solvent, but it could not get cash from Nashville banks under the Clearing House rules.