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NASHVILLE, Nov. 26.-The Planters, Union and State Banks of Tennessee have suspended at the request of the community.
20966. Union Bank (Nashville, TN)
Bank Information
- Episode Type
- Suspension → Reopening
- Bank Type
- state
- Start Date
- November 26, 1860
- Location
- Nashville, Tennessee (36.166, -86.784)
Metadata
- Model
- gpt-5-mini
- Short Digest
70f3f665
Response Measures
None
Description
Multiple contemporary newspapers (Nov 26–28, 1860) report that the Planters', Union, and State Banks of Tennessee 'suspended specie payment at the request of the community' or 'at the request of a committee of merchants.' There is no mention of a depositor run, failure, receivership, or permanent closure in these articles. The language indicates a coordinated, likely temporary suspension to relieve monetary pressure; lacking explicit reopening text, I choose suspension_reopening as the most consistent category but note that reopening is inferred from the 'request of the community' / temporary framing rather than explicitly reported.
Events (1)
1.
November 26, 1860
Suspension
- Cause Details
- Suspended specie payments 'at the request of the community' / 'at the request of a committee of merchants' to relieve local monetary distress; a coordinated, voluntary suspension rather than an announced insolvency or government closure.
- Newspaper Excerpt
- The Planters', Union, and State Banks of Tennessee have suspended specie payment at the request of the community.
- Source
- newspapers
Newspaper Articles (10)
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TELEGRAPHED TO THE NEW ORLEANS CRESCENT. LATER FROM CALIFORNIA. ARRIVAL OF THE PONY EXPRESS. [BY THE SOUTHWESTERN LINE.] FORT KEARNEY, Nov. 25.-The Central Overland Pony Express passed here to-day, with California dates to the 14th inst. SAN FRANCISCO, Nov. 14.-The trade with the country, since the departure of the last express, has been less active. We quote Rio Coffee at 142 to 15c. per lb. Sugar is quiet, and sales are made at previous rates. The Presidential election returns, from the distant counties in the State of California, were coming in slowly. That Lincoln has carried the State there can be no donbt. Valuable mineral discoveries have been made near the Esmeralda mines and in Sonora. Esporsa, the filibuster ringleader, was killed in a fight in Lower California. His band of marauders are committing robberies and murder by the wholesale. European Letters and Circulars. NEW YORK, Nov. 26.-The steamship Arago, from Southampton the 14th inst., arrived at this port at 2 o'clock yesterday afternoon. The mails brought by her for the Sonthern cities were sent off in the early evening train. Messrs. James Hewitt & Co. confirm their report by the Palestine, and say that the cotton market closed firm. Spinners purchase sparingly. They quote Middling Orleans at 91d. They put down the imports of the week ending with Friday, the 9th inst., at 10,000 bales. The total quantity of cotton known to be at sea on Saturday was 60,000 bales, against 90,000 at the corresponding period last year. Messrs. James Hewitt & Co. report the Manchester trade unchanged. The same circular reports Lard active and advanced 6d. to 12d. Havre Cotton Market. HAVRE, Nov. 9.-The prices of cotton yesterday fully recovered the decline of 1 to 2f. We quote New Orleans Bas at 94f. The sales to-day were confined to 1500 bales, the market closing quiet at unchanged quotations. Bank Suspensions in Tennessee. NASHVILLE, Nov. 26.-At the urgent request of the community, the Bank of Tennessee and the Planters' and Union Banks suspended specie payment to -day. Failure in Buffalo. BUFFALO, Nov. 24.-The money panic here is felt with severity. The extensive banking establishment of Messrs. Wm. o. Brown & Co. suspended to-day. New Orleans Mails for Europe. NEW YORK, Nov. 24.-The steamship Bremen sailed from this port to-day for Southampton and Bremen, taking out New Orleans mails of the 19th inst., and telegraphic dispatches from New Orleans of the 23d. The Crisis Rapidly Abating. NEW YORK, Nov. 24.-The most cheerful feelings continue to prevail here. The associated banks have discounted seven millions of dollars since Wednesday. Specie remains undistributed. Stocks have advanced ten per cent. since Tuesday. The best paper is discounted at ten per cent. Rates have still a downward tendency. Action of the Boston Banks. BOSTON, Nov. 24.-A meeting of the Boston banks was held to-day and resolved to expand the discounts as the only means of saving the merchants. The measures practically came from New York. Mississippi Legislative Proceedings. JACKSON, Nov. 26.-The extra session of the Legislature of Mississippi merely organized to-day. The Governor's message to the Legislature was read in both Houses. Its tone is uncompromising. The members all appear to be unanimous for secession. [There is no possibility of obtaining a full report to -night on account of an interruption in the working of the telegraph line.] River Intelligence. VICKSBURG, Nov. 26.-The steamer McDowell passed down at 3 o'clock on Sunday, the Scotland passed down at noon, the Sioux City at 4, the L. M. Kennett at 5, and the James Battle at 10 o'clock P. M. yesterday.
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Bank Suspensions. NASHVILLE, Nov. 26.-The "Planters', " "Union" and "State Bank" of Tennessee, have suspended specie payments at the request of the community.
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LATEST NEWS. BY TELEGRAPH TO THE WORCESTER DAILY SPY From Washington and the South. New York, Nov. 26.-The Herald's correspondent states that Chief Justice Taney has resigned. Attorney General Black will probably succeed him. The latter has given the president his opinion, that no state has a constitutional right to secede. Arrangements are making here for a conference of the southern members of congress, after the assembling of that body. Mr. Slidell his notified the president that he will not attend the senate the present session unless his vote is desired specially. Private advices from Texas state that the lone star flag had again been raised, and that the state will organize a government for herself. It is reported that the Pacific representatives contemplate an address to their constituents urging a separate confederacy, including California, Oregon, Washington, Utah, and New Mexico It is stated that the kidnapping of free negro sailors in Florida, caused great indignation there. Exertions to recover the negroes and to bring the guilty parties to punishment, are being made. PETERSBURG, Va., Nov. 26.-Mr. Clingman has been nominated by a democratic legislative caucus at Raleigh, N. C., for United States senator. Hon. M. E. Manley was elected supreme judge by the legislature on Saturday There is considerable secession talk among the members. Nashville, TENN., Nov. 26.-The Planters, Union, and State banks of Tennessee, have suspended specie payment by request of the business community. Augusta, GA., Nov. 26.-A. H. Stephens and Dr. Perkins have been unanimously nominated to the state convention from Taliaferro county. Stepnens made a conservative speech. WASHINGTON, Nov. 26.-No official notification of Taney's resignation has been made. No such information has been received at the Attorney General's office. BALTIMORE, Nev. 26.-The association, calling themselves "southern volunteer," dis played the Palnetto flag, yesterday, from their rooms. The bark Isabel displayed the Palmetto flag. Allthe ships in the vicinity displayed the stars and stripes. CHARLESTON, Nov. 26.-Sales of cotton 2000 bales. ranging from 81/2 to 10³₄ firm. Milledgeville, Nov. 26.-The senate bank bill passed the house by 93 against 27. A veto is expected, but it will probably pass over the veto. AUGUSTA, GA., Nov. 26.--The banks have advanced the rates on New York sight drafts to half premium. WASHINGTON, Nov. 26.-The government to-day received official information from Minister Clay, and suspended i tereourse with Peru, and the Peruvian minister was turnished with passports. All diplomatic intercourse between the two countries is terminated.
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BANK SUSPENSIONS. Nashville, Nov. 26.-The Planters', Union, and State Bank, of Tennessee, have suspended specie payment at the request of the community. I
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Bank Suspensions. NASHVILLE, Nov. 26. - The " Planters', " "Union," and "State Bank," of Tenn., have suspended specie payment, at the request of the the community.
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Nashville, Nov. 26.-The Planters, Union and State Banks of Tennessee have suspended at the request of a committee of merchants.
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COMMERCIAL. M onetary and F) rancial. MONDAY EVENING, Nov. 26, 1860. Immediately up a the opening of the Banks this morning it announced that the the old Banks in this -the Bank of Tennessee and the Planters' and Union Banks-bad yieldod to the urgent solicitations of 0' business men and the recommendation of the Supervisor of Banks, and dete: nined to suspend specie pay ments. This intelligence was bail i with evident satisfaction, in business circle... as #28 dawn of er"ier times in our Money market The Banks are now in a e codition to extend their line of discounts, and we donbt not they will do all in their power to relieve the business CO nmunity. We print in smother coly un the able nd conclusive letter of * 10 Supervisor of Banks, in response to a. no om a la ge number of our le ding bus ness men, showing that it was e duty of the Banks take thestep they did this morning. It will be seen from the letter of Col. QUAR Ei, that the Ban` 4 doing business under the Bank Code of the last Legistature, are ful'y able to have gone through tue pr nic, but to have done so they could not have rendered 2 17 assistance to the bus' ess co nmuni.j. We le rn from a gentleman direct om Memphis that the business men of that pls were in & greater atta't th an those of Nathville. The Money to pay le freights on Cotton could not be had, much le: 9 to pay for it. We were show 1 a letter this morning from an gent gentlem at Mempinis, dat i the 93d, in which he says: Every thing is stagnart here. the e eatest distress prevails. There in at least 40,000 t ifex of cotton here nd no sale for it. I fear some of our il st houses must stop unless relief in offer 1 by a suspension of the Banks here, which is opposed by 10 Bank of Tennessee, and the Union and Planters' Banks. To-day the merch nts got up a pet tion to the B n 7:0 suspend, bu. it is feared they H 11 not." The is the aracter of let.ers which have come up here from almost every business po it finote in the Etate 1 he reader will, the*efore, he able to appreciate the upor' ace of the step which the Ba .3 took re-day. We presume the action of the Lanks here will be followed by the Banks throughout the State, d a general suspension occur. The issues of the suspending B kg are just good now as they were before "ie suspension, and are 13' en at ₁ r in all or. dinary tr: exctions. We hear to-day that iree is no SP e for the notes of the Ocoee Bank. This is owing. we presime, to the fact that nothing defin'' by is known as to the cause of its Inte dep: eciation. It will be seen by consulting our Bank Note Table, that discount of variou sdescriptions of unco-rent Money was d considerably to day by the Bro. 18. Ke Lac 7, or 0, Ind.ana, and New Orleans Ban are now quoted at five per cent discount. There is no demand and rely any sale for current Money of any descr ption, end OF que Cons may, there'ore. be re garded asentirely reminal.
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TENNESSEE. NASHVILLE, Tenn., Monday, Nov. 26, 1860. The Planters', Union, and State Banks, of Tennessee, have suspended, at the request of the community.
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SUSPENSION OF THE BANKS AT NASHVILLE. NASHVILLE, Nov. 26.-At the urgetit request of the business community, the Bank of Tennessee, the Planters and Union Banks stispended specie payment to-day.