20970. Union Bank (Nashville, TN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 1, 1875
Location
Nashville, Tennessee (36.166, -86.784)

Metadata

Model
gpt-5-mini
Short Digest
3cd14f27

Response Measures

None

Description

Articles (Apr–Jun 1875) describe the Union Bank of Tennessee as 'in liquidation' and its assets sold at courthouse auction by a trustee. No run is mentioned; the bank is being liquidated and assets disposed of, indicating permanent closure. I inferred bank type as 'state' from the name 'Union Bank of Tennessee.'

Events (1)
1. June 1, 1875 Suspension
Cause
Voluntary Liquidation
Cause Details
Bank is described as 'in liquidation' and a trustee (Joseph W. Allen) sold the bank's assets at courthouse auction; assets include Confederate bonds, lands, suspended debts; indicates formal liquidation rather than a depositor run or regulatory closure.
Newspaper Excerpt
the Union Bank of Tennessee, in liquidation, to be offered for sale at the courthouse door in Nashville on the first day of June, 1875
Source
newspapers

Newspaper Articles (4)
1. April 16, 1875 Nashville Union and American Nashville, TN
Article from Nashville Union and American, April 16, 1875

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Article Text

Assets of the Old Union Bank. We uotice that a list of assets belonging to the Union Bank of Tennessee, in liquidation, to be offered for sale at the courthouse door in Nashville on the first day of June, 1875, has been printed. The names of a great many individuals with their endorsers appear under the head of "Suspended Debts," with that of "Shelby county, due May, July, September and October, 1862, $600,000. Under the head of "assets that have been charged to profit and loss different times as being worthless," occur Confederate war bonds and Treasury notes to the amount of $476,255; Arkansas war bonds, $13,500; Gen. Hindman's receipt for a forced loan (?) from the branch at Memphis, $25,000, and Franklin and Columbia Turnpike Co., $1,000 Eight thousand and forty acres of land in Arkansas belonging to the Bank are also included in the list, to be sold subject to taxes for 1875, all previous taxes being paid. Among other assets mentioned are tract of land in Dyer county, Tenn., (in litigation) about 900 acres, and 410 shares Planters' Bank stock. Debts are sold subject to lawyer's fees for collecting.

2. June 2, 1875 Nashville Union and American Nashville, TN
Article from Nashville Union and American, June 2, 1875

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Article Text

UNION BANK ASSETS. Immense Wealth Disposed of at Great Sacrifice. An Auction Eclipsing All the Lotteries Ever Drawn. The assets of the Union Bank of Tennessee were sold for cash at the court-house door yesterday[by Joseph W. Allen, Esq., Trustee. The amount realized from the entire assets was a little over $6,000. The items of the sale will be read with interest: Eight thousand acres of land in Arkansas, sold to Loomis, a banker of New London, Conn., for $1,584. Forty acres in the same State, to G. W. Humble, of the same State, $10. One hundred and forty shares of Planters' Bank stock, to J. C. McCrary, of this city, at 60 cents per share, $84. All the old books and papers to the Rock City Paper Mills, at 4 cents per tb. $476,255 Confederate Bonds and Treasury notes, to various persons, $8.85. $13,500 Arkansas War bonds, to W. M. Duncan, of Nashville, $4.50. Gen. Hindman's receipt for a "forced loan" from the branch at Memphis, of $250,000 to F. Smith, of Nashville, $1. # $20,446.25 insolvent notes, to E. F. Mulloy, $5. About $294,000 suspended debts, etc., to various parties, about $3,800. Total amount realized-a little over $6,000.

3. June 4, 1875 Public Ledger Memphis, TN
Article from Public Ledger, June 4, 1875

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Article Text

UNION BANK ASSETS. Immense Wealth Disposed of at GreatSacrifice-A Auction Eclipsing all the Lotteries ever Drawn, Nashville Union and American, June 2.] The assets of the Union Bank of Tennessee were sold for cash at the courthouse door yesterday by Joseph W. Allen, Esq., trustee. The amount realized from the entire assets was a little over $6000. The items of the sale will be read with interest: Eight thousand acres of land in Arkansas, sold to Loomis, a banker of New London, for $1584. Forty acres in the same State, to G. W. Humble, of the same State, $10. One hundred and forty shares of Planters' Bank stock to J. C. McCrary, of this city, at 60 cents per share, $84. All the old books and papers to the Rock City Paper Mills, at 4 cents per pound. Four hundred and seventy-six thousand two hundred fifty-five dellars Confederate bonds and treasury notes, to various persons, $8 85. Thirteen thousand five hundred dollars Arkansas war bonds, to W. M. Duncan, of Nashville, $4 50. General Hindman's receipt for a e forced loan" from the branch at Memphis, of $250,000 to F. Smith, of Nashville, $1. Twenty thousand four hundred and forty-six dollars and twenty-five cents insolvent notes, to E. F. Mulloy, $6. About $294,000 suspended debts, etc., to various parties, $3800. Total amount realized, a little over $6000.

4. June 10, 1875 The Home Journal Winchester, TN
Article from The Home Journal, June 10, 1875

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Article Text

# An Auction Eclipsing all the Lotteries Ever Drawn. From the Union and American, 3d.] The assets of the Union Bank of Tennessee were sold for cash at the courthouse door yesterday, by Joseph W. Allen, Esq., Trustee. The amount realized from the entire assetts was a little over $6.000. The items of the sale will be read with interest: Eight thousand acres of land in Arkansas, sold to Loomis, a banker of New London, Conn., for $1,584. Forty acres in the same State to G. W. Humble, of the same State, $10. One hundred and forty shares of Planters Bank stock, to J. C. McCrary, of this city, at 60 cents per share, $84. All the old books and papers to the Rock City Paper Mills, at 4 cents per pound. $476,255 Confederate Bonds and Treasury notes to various persons, $8,85. $13,500 Arkansas War Bonds, to W. M. Duncan, of Nashville, $4 50. General Hindman's receipt for a "forced" loan from the branch at Memphis of $250,000, to F. Smith, of Nashville, $1. $20,446.25 insolvent notes, to E. F. Mulloy, $6. About $294,000 suspended debts, etc., to various parties, about $3,800. Total amount realized—a little over $6,000.