20902. Commerce Union Bank (Nashville, TN)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
November 15, 1930
Location
Nashville, Tennessee (36.166, -86.784)

Metadata

Model
gpt-5-mini
Short Digest
2236f652

Response Measures

Accommodated withdrawals, Public signal of financial health, Capital injected

Other: Commerce Union Bank absorbed Tennessee Hermitage National Bank to stem a run; clearinghouse cooperation noted.

Description

Newspapers report a run on the Tennessee Hermitage National Bank (a separate institution) beginning Nov 14-15, 1930, triggered by prior closures/runs (Liberty Bank). Commerce Union Bank took over/assumed control of the Tennessee Hermitage to stop the run and guarantee stability; the Hermitage continued to honor checks on demand. There is no explicit suspension of the Hermitage reported, nor a permanent closure; the takeover/absorption by Commerce Union is reported as a stabilizing merger. Classification chosen as run_only because heavy withdrawals occurred but no suspension is described. Bank_type for Commerce Union not specified in articles; left as unknown.

Events (2)
1. November 15, 1930 Other
Newspaper Excerpt
Commerce Union Bank, Nashville, today complete charge and control of the Tennessee Hermitage National Bank as a result of agreements reached between the two banks and banks of the Clearing House association last night. Absorption of the Tennessee Hermitage National Bank by the Commerce Union Bank forms an institution with assets of more than $20,000,000, Edward Potter Jr., president said.
Source
newspapers
2. November 15, 1930 Run
Cause
Local Banks
Cause Details
Run on smaller local banks (Liberty Bank closed) triggered heavy withdrawals from Tennessee Hermitage National Bank.
Measures
Commerce Union Bank took over/assumed control of Tennessee Hermitage National Bank; other Nashville banks provided cooperation and financial support to guarantee stability and honor deposits.
Newspaper Excerpt
Heavy withdrawals from the Tennessee Hermitage National Bank, which began Friday, abated Saturday, following the announcement that the Commerce Union Bank had taken over the affairs of the former with the cooperation and financial support of the other Nashville banks.
Source
newspapers

Newspaper Articles (3)
1. November 15, 1930 The Courier News Blytheville, AR
Article from The Courier News, November 15, 1930

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Article Text

Commerce Union Takes Over Hermitage at NashToday. NASHVILLE Tenn. Nov. Commerce Union bank Nashville today complete charge and control of the Tennessee Hermitage National bank result agreements reached tween the two banks and banks the Clearing House association Inst night. The Tennessee Hermitage stood a terrific the bank that lasted throughout Friday, and the the two Institutions formed night to guarantee the stabllof the through the strong Influence of the Commerce Union and the backing practically every bank In the The run on the Liberty bank Thursday caused doors to close yesterday and Immediately thereafter run started on the Tennessee Hermitage. special details of to the keep crowd order and to prevent shows Paul M. Davis, president of the American National bank. now formthe second largest bank in the south, announced the merger last night and Insured the public of the stability of the Institutions the public did not continue the run against the smaller institutions. The banking committee warned in statement last night that continued runs on the banks here would bring about economic disnsto the entire The the two banks expected to bring close the financial panic that has swept Nashville with increasing since the closing of the Bank of Tennessee vember Jacksboro Bank Closes JACKSBORO TENN. Nov. County Bank and Company of Jacksboro, has decided close because has deposit in Holston Union National Bank of Knoxville which closed Winston Baird, president of the small bank, today. Depositors will be paid Monday nd Tuesday

2. November 16, 1930 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, November 16, 1930

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Article Text

AUTHOR TO BE LECTURER. RUN ON BANK STEMMED Maurice Samuel To Speak At Reading Road Temple Tomorrow. Maurice Samuel, noted writer, will be the speaker tomorrow night at the second of the series of Monday night Forum meetings at the Reading Road Temple. His subject will be "The Place of the Jew in the Modern World." Alfred Bettman has acWhen Announcement Of Merger Is cepted an invitation to preside at the Made At Nashville. meeting. Nashville, Tenn., November 15- Mr. Samuel is well known in Cin(AP)-Heavy withdrawals from the cinnati, having appeared here on sevTennessee Hermitage National Bank, eral previous occasions He divides his time between America and Paleswhich began yesterday, abated today, following the announcement tine, spending six months of each that the Commerce Union Bank had year in the Holy Land and six taken over the affairs of the former months at home. He is said to possess an astonishing amount of knowlwith the cooperation and financial edge of ancient and modern literasupport of the other Nashville banks. ture, science and international politics. He has lived in several great Absorption of the Tennessee Hercenters of the world. As an author mitage National Bank by the Comhe is known for his "Whatever merce Union Bank forms an instiGods, "The Outsider' and "You tution with assets of more than $20.Gentiles" and as the translator of 000,000, Edward Potter Jr., President Count Keyserling's works "From the of the latter, said. The Commerce German' and of Bialik's "From the Union Bank is affiliated with the Hebrew." Broadway Bank. The prospectus regarding the Announcement of the merger was Reading Road Temple meeting tomade early today and was signed morrow night predicts that Mr. Samby officials of the banks in the uel should such questions as Nashville Clearing House. The state"Is the Jew a saint or a sinner?" ment added: 'Why has he survived "Is there "The interests of the depositors of Jewish problem "What is the place the Tennessee Hermitage National of the Jew in the modern world?" Bank are now fully protected." "Have times changed? "Has the Jew Although there was long line received the recognition that is due standing outside the bank when it him?" "What can he give to the was opened, the crowd dispersed world?" "How shall he live in the when learned the bank would modern age? continue to honor checks on demand The Forum meetings are being conand savings deposits as they were ducted under the auspices of the presented. Reading Road Temple Forum Council, of which Dr. Eli A. Miller is SETS GASOLINE STANDARDS. Chairman.

3. November 16, 1930 The Daily Oklahoman Oklahoma City, OK
Article from The Daily Oklahoman, November 16, 1930

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Article Text

Merger Halts Run On Nashville Bank -Heavy withdrawsls from the Tennessee Hermitage National bank. which began Friday. abated Saturday. following the that the Commerce Union bank had taken over the affairs of the former "with the co-operation and financial suppart of the other Nashville banks." Absorption or the Tennessee HeTmitage National bank by the Commerce Union bank forms an institution with assets of more than $20.000,000, Edward Potter Jr., president of the latter, said. Flier Killed as Plane Falls Reginald Shaw, 22 years old. of Kingwood. was killed Saturday when his airplane fell and burned near the Kingwood airport.