20890. Capital City Bank (Nashville, TN)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: March 28, 1893
Location: Nashville, Tennessee (36.166, -86.784)

Metadata

Model: gpt-5-mini
Short Digest: 37013dec

Response Measures

Partial suspension

Other: Bank later went into voluntary liquidation and transferred business to Fourth National; conflicting reports on depositor payment (some say paid in full, others mention cents on dollar).

Description

Contemporaneous articles report a panic/run in Nashville after the failure of the Commercial National Bank (March 28, 1893). In early May 1893 the Capital City Bank has gone into voluntary liquidation and its business was transferred to the Fourth National Bank; depositors to be paid (not a government receivership). Sequence: run (panic) → voluntary liquidation (closure).

Events (2)

1. March 28, 1893 Run

Cause: Local Banks
Cause Details: Panic and heavy withdrawals triggered by the failure of the Commercial National Bank in Nashville; crowd/raid on multiple banks.
Measures: Directors resolved to take advantage of the state banking law allowing banks to demand a 60-day notice from depositors before withdrawals.
Newspaper Excerpt: The failure of the Commercial National bank ... it was known to half the town that a raid would be made on the money piles of the various institutions ... the City Savings bank, the Capital City bank ... opened up their doors. The officers soon saw that a run which they could not stand was imminent.
Source: newspapers

2. May 6, 1893 Suspension

Cause: Voluntary Liquidation
Cause Details: Officials determined business was not sufficiently profitable and chose to wind up affairs; business transferred to the Fourth National Bank and funds deposited to pay depositors.
Newspaper Excerpt: The Capital City bank of Nashville, chartered under the state laws, has gone into voluntary liquidation. The bank's depositors will be paid in full. The stockholders will receive 70 cents on the dollar.
Source: newspapers

Newspaper Articles (10)

1. March 30, 1893 Connecticut Western News North Canaan, Salisbury, Canaan, CT

Article from Connecticut Western News, March 30, 1893

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NASHVILLE'S PANIC. Thousands of Excited Citizens Almost Mob the Bank. NASHVILLE, March 28.-The streets in the vicinity of the banking houses of this city echoed all day the vociferations of a panic stricken throng. Never before were such scenes witnessed here. The failure of the Commercial National bank on Saturday afternoon did not become generally known until after dusk. Nothing else was talked about, and it was known to half the town that a raid would be made on the money piles of the various institutions that would make some of them tremble if not topple over into financial ruin. The First, Fourth, American National, Merchants, Mechanics Savings Bank and Trust company and the Union Bank and Trust company, all of College City. and the City Savings bank, the Capital City bank and the Nashville Safe Deposit Trust and Banking company, just around the corner of Cherry, on Union street, opened up their doors. It was rumored later that the Mechanic's had been caught in the commercial collapse. The officers soon saw that a run which they could not stand was imminent. The directors resolved to take advantage of the state banking law, which gives banks organized under it the privilege to demand a 60-day notice from itors before they can withdraw their deposits.

2. March 30, 1893 Freeland Tribune Freeland, PA

Article from Freeland Tribune, March 30, 1893

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NASHVILLE'S PANIC. Thousands of Excited Citizens Almost Mob the Bank. NASHVILLE, March 28.-The streets in the vicinity of the banking houses of this city echoed all day the vociferations of a panic stricken throng. Never before were such scenes witnessed here. The failure of the Commercial National bank on Saturday afternoon did not become generally known until after dusk. Nothing else was talked about, and it was known to half the town that a raid would be made on the money piles of the various institutions that would make some of them tremble if not topple over into financial ruin. The First, Fourth, American National, Merchants, Mechanics 'Savings Bank and Trust company and the Union Bank and Trust company, all of College City. and the City Savings bank, the Capital City bank and the Nashville Safe Deposit Trust and Banking company, just around the corner of Cherry, on Union street, opened up their doors. It was rumored later that the Mechanic's had been caught in the commercial collapse. The officers soon saw that a run which they could not stand was imminent. The directors resolved to take advantage of the state banking law, which gives banks organized under it the privilege to demand a 60-day notice from depositors before they can withdraw their dc. posits.

3. April 6, 1893 The Monmouth Inquirer Freehold, NJ

Article from The Monmouth Inquirer, April 6, 1893

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NASHVILLE'S PANIC. Thousands of Excited Citizens Almost Mob *the Bank. NASHVILLE, March 28. - -The streets in the vicinity of the banking houses of this city echoed all day the vociferations of a panic stricken throng. Never before were such scenes witnessed here. The failure of the Commercial National bank on Saturday afternoon did not become generally known until after dusk. Nothing else was talked about, and it was known to half the town that a raid would be made on the money piles of the various institutions that would make some of them tremble if not topple over into financial ruin. The First, Fourth, American National, Merchants, Mechanics Savings "Bank and Trust company and the Union Bank and Trust company, all of College City. and the City Savings bank, the Capital City bank and the Nashville Safe Deposit Trust and Banking company, just around the corner of Cherry, on Union street, opened up their doors. It was rumored later that the Mechanic's had been caught in the commercial collapse. The officers soon saw that a run which they could not stand was imminent. The directors resolved to take advantage of the state banking law, which gives banks organized under it the privilege to demand a 60-day notice from depositors before they can withdraw their de posits.

4. May 7, 1893 The Helena Independent Helena, MT

Article from The Helena Independent, May 7, 1893

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DISASTROUS OPPOSITION. Attempt to Crush a Rival Breaks the Cordage Company. NEW YOEK, May -The facts and particulars regarding the inside causes which led to the downfall of the National Cordage company. are gradually leaking out. John Good, of the John Good Cordage and Machine company, WAS seen by a reporter today, and said the National Cordage company's difficulties were brought about by seiling below CORT. They were fighting the Good company, a rival concern with a capital of $7.000,000, and machinery that could manufacture at less cost than the National Cordage pool. "Wo are ready and in position to help them. if they will agree to our terms." said he, "but if they want any more medicine we can oblige them." INDIANAPOLIS, Ind., May 6.-Upon Application of Charles W. Depauw, president of the Premier Steel company, Judge B own to-day appointed John E. McGettigen, of the Indianapolis Switch works, receiver of the Premier company's business. The atress of the money market and the depression of steel industries, in consequence of recent heavy failures in the east, are assigned by the Premier company's officers as the reason for the suspension and receivership. The liabilities immediately maturing will aggregate $100,000. Assets available now and within six months are more than quadruple the total liabilities. NEW YORK, May 6.-At the office of 8. V. White this afternoon it WAR said his affairs are in better shape than was thought yesterday and that be will resume in a few days. The reports that the Havemeyers and others offered to put him on his feet are denied. No offers of outside assistance have been received, and it Was said none was needed. NASHVILLE, Tenn., May 6.-The Capital City bank of Nashville, chartered under the state laws. has gone into voluntary liquidation. The bank's depositors will be paid in full. The stockholders will receive 70 cents on the dollar. NEW YORK, May 7.-Robert A. Hevenor, one of the largest grocers in Harlem, has given a bill of sale to his creditors. His liabilities are reported from $50,000 to $80,000.

5. May 12, 1893 The Kinsley Graphic Kinsley, KS

Article from The Kinsley Graphic, May 12, 1893

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THE SOUTH. TWENTY Mexicans charged with violation of the United States neutrality laws were arraigned before the federal court at San Antonio, Tex. Sixteen pleaded guilty and the rest not guilty. All of the accused were officers in the Garza revolutionary army. THREE indictments have been found against Cashier Redwine, of the defunct Gate City National bank of Atlanta, Ga. A MAN known as "Old Dickey Bennett" died at Bentonville, Ark., the other evening at the age of 110 years. JOCKEY HAMLINE fell at the Cumberland park races, Nashville, Tenn., and was badly injured. MAIL advices to Galveston bring the news that a revolution has broken out in Nicaragua. The movement is an outcome of the old hostility entertained by the eastern department toward the western department of the republic. TROUBLE was looked for between the editors of the Memphis Appeal-Avalanche and the Memphis Commercial on account of an article which appeared in the former paper. A DESTRUCTIVE tornado did much damage in the vicinity of Gainesville and Whitesboro, Tex. The New Orleans Delta newspaper has suspended publication. THE Capital City bank, of Nashville, Tenn., chartered under state laws, has gone into voluntary liquidation. The bank's business has been transferred to the Fourth National bank. COL. W. LAMON, a friend of Abraham Lincoln, died at Martinsburg, W. Va. WHITECAPS at Brookhaven, Miss., pleaded guilty and were sentenced to two years in the penitentiary. THE lower Mississippi river has been rising so as to give alarm in Mississippi and volunteer guards have been called for.

6. May 12, 1893 The Columbia Herald Columbia, TN

Article from The Columbia Herald, May 12, 1893

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STATE NEWS. According to rumors generally current on last Saturd y and Sunday, it seemed that Nashville had suffered another bank failure; but the rumor proved not to be founded in fact. The Capital City bank, concerning which the report was circulated. did not suspend, but simply went into liquidation. That is, the officials finding that the business Was not sufficiently profitable, determined to wind up its affairs, and with a view to doing so, deposited enough money with the Fourth National bank to pay off all depositors and then proceeded to close up its business. It was no failure and no depositor loses a cent by it. Ulysses Morris, aged 17, was drowned at Kuoxville last week while bathing. The body was recovered. He went in the pond against the pleadings of his mother. His father is all invalid and an ex-federal soldier. Quite a sensation was created in the vicinity of Yell, Marshall County, a few days ago, says a correspondent of the Petersberg Gazette. While a 16-months-old child of Mr. M. M Bivius was in the front yard playing, a very large bald eagle picked it up and carried it about three-quarters of a mile. The screams of the child and those of its mother could be heard for some distance. The bird alighted near where Mr. B. F. Coleman was hunting, and he killed it. This seems to have b-en a providential offer for the terror-stricken child and mother. The bird measured 71/2 feet from tip to tip and weighed 40 pounds. This is the second one of these eagles that has been killed in e this vicinity this year. The first was killed by Mr. Bruce Collins. Mr. Bivins is going to send the claws and wings of this one, together with the history of the event of its killing to the World's Fair The child, was e not seriously hurt, being only slightly bruised on one side and arm by the bird's claws while carrying it. By the death of his uncle, Isaac Moman, of Fincastle, Virgiuia, who r died a short time ago at the age of 109 a years, Dr. George Williams, of Davide son County, has inherited a fortune, said to consist of stocks and bonds to the amount of $2,500,000 Dr. Will e iams' sister writes him that the entire amount has been bequeathed to him and to her, and that she would come here about July 1. Dr. Williams is a member of the Circuit Court jury and has four children, y all married. Mr. Moman had four

7. May 13, 1893 Macon Beacon Macon, MS

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put in effect between California and Missouri river points. THE block on the east side of Broadway between Forty-fourth and Fortyfifth streets, New York, was completely destroyed by fire. The loss is estimated at from $125,000 to $150,000. THE town of Kowal, in Poland, about eighty miles south of Warsaw, has been visited by a destructive conflagration. The big infirmary and asylum were burned. No less than eighty persons perished and 300 families were made homeless. THE executive committee of the Order of Railway Telegraphers are examining the books and accounts of the officers. There are the chief has squangrand grand recklessly charges that dered the money of the order. It is stated that between $40,000 and $50,000 was spent in the Burlington, Cedar Rapids & Northern and Rock Island strikes. JOHN KUSLER, a farmer, living near Ok., has died suddenly under which lead coroner circumstances Guthric, the to believe that he was poisoned. As arranged. three Chinamen were arrested in New York to make cases to test the constitutionalty of the Geary law. THERE was a disastrous wreck on the Four at the of the 7th, a passenger Big morning Lafayette, Ind., early on train erashing into the depot, due to the failure of air brakes to work. THE gates of the world's fair were not opened to the general public on Sunday. Holders of passes, however, were admitted. THE New Orleans Delta newspaper has suspended publication. A DESTRUCTIVE tornado did much damage in the vicinity of Gainesville and Whitesboro, Tex. IN a rear end freight collision at Tadmor, O., five tramps, who were stealing a ride, were killed. THE British crews won two of the three international boat races at New York, Russians winning the third. A CINCINNATI and Memphis steam packet blew up on the Mississippi 111. twenty-four miles below Cairo, beTwenty-two men were scalded, six ing killed. A SCHOOL boy named Grueber shot Father Puronka in Olemutz, Austria, with a revolver and then killed himself. The priest will recover. Puronka had interfered in Grueber's love affairs. THE customs authorities at New York satisfied that the jewelry, worth are nearly $200,000. which was captured by the Williamsburg police, is the property of of the count of Flanders, a brother King Leopold 11. THERE was great excitement in Dub- it lin over the dynamite explosion and was believed that the object of it was to embarrass the government. ANOTHER band of murderous Navajos attacked two cowboys in Colorado and killed one of them. AT Casey, Ind., the roof of a kill- new brick kiln caved in, crushing and ing three workmen. CHINESE in San Francisco are sullen and stubborn in their refusal to obey offithe Geary law, and United States cials look for serious trouble with them before the matter is settled. AT Redonda, Cal., union and nonunion sailors fought and one man on each side was killed. IN case Theodore Thomas resigns as is director of the world's fair it musical believed that Walter Damrosch will be his successor. AMERICAN Cubans at Key West are exceedingly active and assert that a blow for the liberty of Cuba will soon be struck which will be successful. JUDGE PUTNAM, of the United States for circuit court, has set September 5 bank the trial of the pending Maverick cases. THE Capital City bank, of Nashville, has chartered under state laws, The Tenn., into voluntary liquidation. to gone bank's business has been transferred the Fourth National bank. THE largest and most powerful barb- has far made for the new navy ette 50 been completed at the Bethlehem barbette ordnance just works. It is the aft for the battle-ship Maine. THE annual eight hour demonstration on London workingmen took place of the 7th. The meetings were enthusiastic, but peaceable.

8. May 13, 1893 Baxter Springs News Baxter Springs, KS

Article from Baxter Springs News, May 13, 1893

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THE SOUTH. A MAN known as "Old Dickey Bennett" died at Bentonville, Ark., the other evening at the age of 110 years. JOCKEY HAMLINE fell at the Cumberland park races, Nashville, Tenn., and was badly injured. MAIL advices to Galveston bring the news that a revolution has broken out in Nicaragua. The movement is an outcome of the o.d hostility entertained by the eastern department toward the western department of the republic. TROUBLE was looked for between the editors of the Memphis Appeal-Avalanche and the Memphis Commercial on account of an article which appeared in the former paper. A DESTRUCTIVE tornadodid much damage in the vicinity of Gainesville and Whitesboro, Tex. THE New Orleans Delta newspaper has suspended publication. THE Capital City bank, of Nashville, Tenn., chartered under state laws, has gone into voluntary liquidation. The bank's business has been transferred to the Fourth National bank. COL. W. LAMON, a friend of Abraham Lincoln, died at Martinsburg, W. Va. WHITECAPS at Brookhaven, Miss., pleaded guilty and were sentenced to two years in the penitentiary. THE lower Mississippi river has been rising so as to give alarm in Mississippi and volunteer guards have been called for. THREE men who murdered Jesse Norman, a merchant, of Bearden, Ark., were lynched by a mob of his friends. THE national league of republican cfubs met at Louisville, Ky., on the 10th. THE losses by the tornado at Cisco, Tex., foot up $500,000.

9. May 18, 1893 Democratic Northwest Napoleon, OH

Article from Democratic Northwest, May 18, 1893

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CONDENSED NEWS. A Collection of Interesting Items on Vari. ous Subjects, Especially Prepared for the Hasty Reader. Owing to an oversight of the Massachusetts legislature, the state has no law by which an absolute divorce may be granted. Secretary Gresham fears a deadly onslaught on the Chinese in California if they make any great attempt to resist the Geary law. The total gold in the country, asestimated by the trensury's official circulation statement, aggregates $613,000,000, of which $518,000,000 is in circulation. Mrs. Cleveland has received several hun dred telegrams inquiring if her reported illness was serious. She is much affected by the kindly interest shown by her friends and admirers, but can not accept their proffered sympathy, because she is not and has not been sick. In fact, her health has never been better. One hundred White Caps captured Brookhaven, Miss., their intention being to release 10 of their number who were in the jail. They surrounded the court house, and threatened the lives of Judge Christman and other officers. The citizens, however, led by the judge, succeeded in driving the desperadoes out of town, being aided by the arrival of a military company. The city council of Richmond has appropriated $4,000 to defray the expenses incident to the reinterment of the remains of Jefferson Davis, May 31. A receiver has been appointed for the National Cordage company. Sankey, the singing evangelist, will hold a revival in Chicago during the world's fair. Upper Mississippi rivermen predict a great flood in that river when hot weather sets in. President Cleveland appointed Annie B. Kenna, widow of the late Senator Kenna, postmistress at Charleston. Senator Kenna left a large family with but very little property. The Kansas boodle investigation has been abandoned. The Capital City bank of Nashville has gone into liquidation. Russia has resumed her merciless perse cution of the Jews, this time driving them, whole settlements at a time, out of Poland. The Delaware national guard is disbanding for lack of state support. General Nichols will accept resignations of officers and discharge men.

10. May 19, 1893 Iowa County Democrat Mineral Point, WI

Article from Iowa County Democrat, May 19, 1893

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illness. J. S. Rawlns, democratic delegate to congress from Utah, has resigned. Six prisoners broke jail at Lansing, Mich A wolf was captured in the street at Monmouth, III. R. A. Havenor, a grocer at Harlem, N. Y., has failed for $80,000. The case of Dr. Briggs will come up D. C., on 18. at Mrs. at Washington, Biddy McKee, colored, May died Seymour, Ind., aged 101 years. John Jones, of Pottstown, Pa., was relieved of $2,500 by bunco men. The reichstag has refused to pass the army bill. Immense eight-oared demonstrations were held in Great Britain, The Tacoma Ledger asserts that a conspiracy exists to flood the country with Chinese. The Spanish government has quelled the Cuban revolution by buying up the revolutionary leaders. Six men were killed and many injured, some fatally, by a steamboat accident at Bellmont, Mo. President Cleveland has issued a rule declining to receive office-seekers who wish for a personal interview. Robertson Robinson, "Old Bob," the life convict at Michigan City, who relused to accept a pardon, has just died in prison. The Joliet rolling mill, which has to 2,500 has because of the low been given closed employment men, price of steel and iron. A. Goldberg, wholesale dealer in clothing at New York, has failed for $65,000. Two cow-boys were fired on by Navajoes at Cross Canon, Col., one being killed. Rottman was Miss Grand Emma drowned at Rapids, Mich., by the capsizing of a boat. The governor of Prussia has issued a decree closing the frontier to immigrants from Russia. Orleans New The the New Delta, organ of anti-lottery party, has suspended publication. J. C. McMullen, vice-president of the Alton road, who is ill in New York, Is in a critical condition. Mchael Davitt, anti-Parnellito member of parliament for northwest Cork, has been adjudicated a bankrupt. A conflict occurred between the union and non-union sailors at Redondo, which resulted in the death of two men. Judge William Lochren has resigned from the bench in Minnesota and left for Washington to assume his duties as commissioner of pensions. The will of J. Henry Stickney of bequeths $500,000 Baltimore gregational to consocieties. The college at Beloit, Wis., also gets a share. In Henry Lederer's printing office at New York 3,000 counterfeit union cigar labels were siezed. Lederer is awaiting trial. Prospectors at Lehigh, Ia., while boring for coal struck veins of natural gas which flows freely and has good volume. The Premier Steel company, of Indianapolis, has failed. The company employs 1,000 men and has a capital of $1,500,000. The Capital City bank, of Nashville, Tenn., chartered under state laws, has gone into voluntary liquidation. It will pay 60 cents on the dollar. The appointments for the sub-freshman exhibition at Lawrence University, Appleton, are as follows: Misses Addie Myrtle Ball, Laura and Lee Messrs. May Brockway, Nye Archie and D. Clara Ball, Stansbury E. Bassett, Crump, Walter H. Brockway, Anton Hattlested and Edward James. The exhibition will take place June 17. The common council at Waupun has granted a franchise to the Waupun Electric Light company and agrees to take eighty incandescent lights for street lighting. It is expected that the electric plant will be built this season. The Isaac Stephenson farm at Truesdell, Kenosha county, of which P. C. Torrey is superintendent, beats all the records this year for twins. There are twin boys, twin calves, twin colts and 100 pairs of twin lambs. Out or 400 lambs only nine have died. These lambs are Shropshires. The Pecos company, with a capital stock of $5,000,000, has been incorporated in New Jersey for the purpose of promoting enterprises in New Mexico and Texas. Four thousand government troops and 6,000 insurgents fought for six hours near Uruguayaua, Rio Grande do Sul, Brazil, Saturday. Both sides claim a victory. John E. Lewis, the agent of the Fort Wayne road who absconded from south Chicago with $4,000 of the company's cash, has been arrested in Texas. John W. Mackay, the bonanza king, resists the payment of doctors' and surgeons' bills aggregating $12,500, for their attendance after he was shot in the back by Rippi. T. of New of the the embezzled E. Swift, $10,000 Haven, funds of Conn., Birmingham, Conn., National bank,