20955. Tennessee Hermitage National Bank (Nashville, TN)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
9532
Charter Number
9532
Start Date
November 14, 1930
Location
Nashville, Tennessee (36.166, -86.784)

Metadata

Model
gpt-5-mini
Short Digest
065441ea

Response Measures

Public signal of financial health, Capital injected

Description

Newspapers report a heavy depositor run in mid-November 1930 (began Friday, Nov. 14, 1930), followed by a takeover/merger by Commerce Union / Bank of Nashville on Nov. 15, 1930 to halt the run. Subsequent liquidation/receivership notices appear in January 1931. Cause appears driven by shocks from other local bank failures (Liberty Bank & Trust, Holston-Union, Bank of Tennessee), so classified as local_banks leading to run and eventual closure/liquidation after absorption. Dates derived from publication dates and internal chronology (run began Friday, Nov. 14, 1930; merger/takeover announced Nov. 15, 1930; liquidation notices Jan 1931).

Events (5)

1. September 4, 1909 Chartered
Source
historical_nic
2. November 14, 1930 Run
Cause
Local Banks
Cause Details
Run began after closing of several Tennessee banks (Liberty Bank & Trust, Holston-Union National, Bank of Tennessee) and spread to Tennessee Hermitage; heavy withdrawals and long lines.
Measures
Bank stayed open during day, honored checks; clearing house rules required early closing at 2 p.m.; merger/takeover arranged with Commerce Union/Bank of Nashville and other clearing house banks to guarantee stability.
Newspaper Excerpt
the Tennessee-Hermitage National Bank, following the closing of three banks in Tennessee within week, were honored... At 2 o'clock line of persons extended about 100 feet from the bank's door.
Source
newspapers
3. November 15, 1930 Suspension
Cause
Local Banks
Cause Details
Bank was effectively taken over/absorbed after the run; consolidation arranged by local clearing house banks to stop withdrawals and stabilize the institution following regional bank failures and runs elsewhere in Nashville/Tennessee earlier in the week. This takeover served as the suspension of independent operations of Tennessee Hermitage National Bank. (Described as 'taken over' / 'absorbed' on Nov. 15, 1930.)
Newspaper Excerpt
Bank of Nashville today took complete charge and control of the Tennessee-Hermitage National Bank...the merger...was formed last night to guarantee the stability of the Hermitage through the strong influence of the Commerce Union and the backing of practically every bank in the city.
Source
newspapers
4. December 23, 1930 Voluntary Liquidation
Source
historical_nic
5. January 20, 1931 Receivership
Newspaper Excerpt
Liquidation Notice The Tennessee Hermitage National of Nashville...are hereby notified to present the notes and other claims...Dated 1930...The Tennessee Hermitage Bank required by the statutes...the public that there no change in the status...COMMERCE UNION BANK OFFICE ... Deputy ... (liquidation/notice published Jan 1931).
Source
newspapers

Newspaper Articles (10)

Article from Danville Register and Bee, November 15, 1930

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Article Text

NASHVILLE BANK WEATHERS PANIC Checks Presented to Tennessee Hermitage National Bank Paid Promptly NASHVILLE Tenn., Nov. Checks presented today by an everchanging line of demand and savings depositors in the Tennessee-Hermitage National Bank, following the closing of three banks in Tennessee within week, were honored in every instances. The bank closed for the day at 2 p. m., as required by clearing house rules and will open as usual tomorrow morning at o'clock, according to E. A. Lindsey, president. Mr. Lindsey announced today that the institution was prepared to remain open longer than regular hours but the rules were not suspended. At 2 o'clock line of persons extended about 100 feet from the bank's door. There was no disorder and the crowd dispersed quietly after the closing hour. Mr. Lindsey said he was unable tonight to estimate the amount of Charles C. Gilbert. a director, reported that negro who had drawn out his account was held up and robbed a short time later. woman also was reported to have lost $150 shortly after withdrawing. financial affairs continued to hold the spotlight today. A federal Lee Douglas, took over the affairs of Caldwell and Company, nationally-known banking house, and the superintendent of banks assumed charge of the Liberty Bank and Trust Company, state institution whose directors last night ordered liquidation. With funds of the state estimated by officials to total around $5,500.000 on deposit in the three closed banks, the Chemical Bank and Trust Company. of New York, the state's fiscal agent, wired Gov. Henry H. Horton an offer to place $5,000,000 credit at the state's disposal. Gov. Horton said he would not decided on the offer until after a meeting tomorrow of the funding board The Bank of Tennessee, fiscal agent and subsidiary of Caldwell and Company, went into receivership last Friday. Tuesday night the closing was announced of the Holston-Union National Bank of Knoxville, and last night the Liberty Bank and Trust Company here announced its decision to close. At Lenoir City today. M. J. Goodwin. state representative-elec issued statement advocating "a through and sweeping investigation of the f1nancial conditions of some of our state favored banks. The committee of bankers. handi- to assure crispness (Using leftovers) 2 cups chopped cooked ham cup stale bread crumbs 1/2 teaspoon salt teaspoons paprika 2 tablespoons finely chopped ce- 4 tablespoon finely chopped onion tablespoon shopped parsley egg cup milk 2 tablespoons butter, melted Mix ingredients. Pour into greased loaf pan. Bake 30 minutes Unmold carefully. Serve warm, cut in ½ inch slices. Date Pudding. 2eggs 4 tablespoons flour teaspoon baking powder teaspoon vanilla 1-8 teaspoon salt cup chopped dates ½ cup broken nuts 2-3 cup sugar. Beat eggs and add other ingredients. Mix well Pour into greased pan. Set in pan of hot water. bake 25 minutes in moderate oven. Un. mold and cut in squares or crumble up and serve in glass cups.


Article from The Anniston Star, November 15, 1930

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Article Text

Merges With mitage National NASHVILLE, Nov. 15. Bank of Nashville today took complete charge and control of the Tennessee-Hermitage National Bank the result of reached between the two banks and member banks of the Nashville Clearing House Association last night. The stood terrific run on the bank that lasted throughout the day Friday and the merger the two institutions was formed last night to guarantee the stability of the mitage through the strong influence of the and the backing of practically every bank in the city. With the assurance that the posits the the bank had let up this morning although hundred or more positors were waiting in line when the bank opened. The run on the Liberty Bank Thursday caused its doors close yesterday, and immediately thereafter the run started on the Tenrequiring special details of police to Keep crowd in order and to shows of violence as hundreds fought for places in the line that stretched more than city block outside the bank windows. Paul M. Davis, president American National now forming the second largest bank the South, announced the merger of the and Tenneslast night and assurthe of the stability the public institutions depositors did not continue the runs against the smaller institutions. Edward Potter. Jr., president of the Bank. bepresident of the merged incomes stitutions and will direct the operation of the beginning this morning. The banking warned formal statement last night that runs on the banks here would bring about economic disasted to the entire city. Such actions will force the banks to call loans to industry and cause the cessation of operations and the subsequent throwing of thousands out of work, Davis announced. of the two banks expected to bring close to the nancial panic that has swept Nashville with since the closing of the Bank of Tennesse on November


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


Article from The St. Louis Star and Times, November 15, 1930

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Article Text

Two More Nashville Banks Are Merged Following Run By Bank of today took control of Tennessee Hermitage National Bank agreements the two banks banks of clation the Nashville Clearing House Assonight withstood terrific run yesterday the two institutions were to guarantee the stability of the TenWith the


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.


Article from St. Louis Post-Dispatch, November 16, 1930

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Article Text

sioner of Kentucky, and Bush W. Allin, present permitted Caldwell Co. to withdraw from state depository at Frankfort sums of money or curities equivalent to money the presupposed value of It is charged that the Insurance company officials "menaced" Commissioner Allin until he agreed to the stated in the that Saufley, after leaving the entered the employ of Caldwell Executives of the Co., statement, said the suit for receivership was merely an attempt to embarrass the management critical time when public mind is in state of doubt and uncertainty. News of Consolidation Stops Run Hermitage Bank. By the Associated Press. Tenn., Nov. Heavy withdrawals from the Tennessee Hermitage National Bank, which began yesterday, abated day. following the that the Bank had taken over the affairs of the former the and financial support of the other Nashville banks. Absorption of the Tennessee mitage Bank by the ComBank forms organization assets more than Edward Potter Jr.,


Article from The Daily Oklahoman, November 16, 1930

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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.


Article from Nashville Banner, January 12, 1931

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DEATH NOTICES this 1931 her home, Geneva sixtyyear her age. She vived son, of Nashville and her daughter, Mrs. four brothers Robert and Emmett sister, all will the Street Christian at by the Spring Hill Park charge. :50 Sunday Nebraska Survived Mrs. Della W. Robert this city will be at the to(Tuesday) by Grant and der be from Nolan Lodge and M. and Nell funeral 1529 1930 941 Hag of Jake Mrs. Funeral from the noon by following will Luther Luton, Brock, Maj. Dr. Elkins Eugene Chief Moore Judge Frank Col. Smith Camp Spanish Interment Mt. JohnsonCompany, funeral directors, SHARI January o'clock Mrs. B. Evins, James and Jesse home 1901 Eighth Notice tin and Rollow 1715 Liquidation Notice The Tennessee Hermitage National Bank ville, of Nashville, located at Nash. the of and other creditors the association are hereby notified payment. present the rotes and other claims for Dated 1930. H. HILLMAN 100 : 1.60 protein) 1.75


Article from Nashville Banner, January 20, 1931

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Liquidation Notice The Tennessee Hermitage National of Nashville, located at Nash ville. In the tate of Tennessee, its affairs. tion and other creditors The the noteholders associa. are notified to present the and other claims to payment. Dated 1930 H. The TennesseeHermitage Bank equired by the statutes the United formal The public and same a there no change in the status the deposit bilities Union of Bank said which took COMMERCE UNIÓN BANK OFFICE Deputy Prohibition been mentioned the National hibition bond Page Deputy


Article from Lincoln Journal Star, July 4, 1931

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RUN ON NASHVILLE BANK Clearing House Officials Act to Protect Institution NASHVILLE Tenn.. Nov. early today that the bank taking the Tennessee Hermitage National bank" co-opera tion and financial support of the other Nashville The was signed by officials the banks the Nash house. The statement depositors of the Tennessee Hermitage Nation al bank are now fully protected.' of the Tennessee Hermitage National bank, yesterday their checks on both demand at the regular closing that the ing sound and the community appreciation the Union bank and the banks by remaining and quiet all these unfounded rumors