20867. Murfreesboro Bank & Trust Company (Murfreesboro, TN)

Bank Information

Episode Type
Run Only
Bank Type
trust company
Start Date
December 3, 1928
Location
Murfreesboro, Tennessee (35.846, -86.390)

Metadata

Model
gpt-5-mini
Short Digest
8fb962d9

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Multiple contemporaneous articles (Dec 3–4, 1928) describe a brief run triggered by unfounded rumors. The run was halted the same day(s) with new deposits exceeding withdrawals; the bank remained open. OCR in Article 1 is poor; corrected bank title and clarified phrasing in notes.

Events (1)
1. December 3, 1928 Run
Cause
Rumor Or Misinformation
Cause Details
Wild/unfounded rumors circulated among factory workers triggered withdrawals totaling about $45,000; fears subsided after officers and directors reassured depositors and large new deposits arrived.
Measures
Bank officers and board members publicly reassured depositors; officials opened for business, balanced ledgers, and departures of Nashville men (presumably bankers) calmed the crowd; inflow of new deposits restored position.
Newspaper Excerpt
What appeared to be a slight run on the Murfreesboro Bank and Trust company, which started Saturday as a result of unfounded rumors, had apparently spent its force by Monday noon, and at that hour new deposits exceeded withdrawals by $65,000.
Source
newspapers

Newspaper Articles (3)
1. December 4, 1928 The Tennessean Nashville, TN
Article from The Tennessean, December 4, 1928

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Article Text

THREAT OF BANK BRINGS IN RECORD Murfreesboro ExpressIn Todd. Murfreesboro. Tenn., Dec. Murfreesboro Bank ficers of the and Trust Co., who opened for business this morning fearing run institution about to on the found balancing their upon business that ledgers they had during day their record for day's deposits in the istory the bank. were being they business town and bankers of Nashfeeling. president sald, just day, would much has. to when business for the day closed. not bright this mornhowever for rumor current among factory workers of pending. and to the armored chairman the board the American along address the they entered Houston assured them hand the cashier deposits The two Nashville men left after hour became clear fears of the depositors subsided.

2. December 4, 1928 Chattanooga Daily Times Chattanooga, TN
Article from Chattanooga Daily Times, December 4, 1928

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Article Text

BANK RUN HALTED AT MURFREESBORO Withdrawals, Caused by Rumor, Are $45,000, but Deposits Are Much Greater. Chattanooga Times Special. MURFREESBORO, Tenn., Dec. 3.What appeared to be a slight run on the Murfreesboro Bank and Trust company, which started Saturday as a result of unfounded rumors, had apparently spent its force by Monday noon, and at that hour new deposits exceeded withdrawals by $65,000.

3. December 4, 1928 The Knoxville News-Sentinel Knoxville, TN
Article from The Knoxville News-Sentinel, December 4, 1928

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Article Text

BANK GAINS BY "RUN" Sentinel slight run on Murfreesboro Bank & Trust Co., started as result of wild rumors circulated without foundation, ended yesterday when new deposits exceeded withdrawals by $65,000.