242. Colbert County Bank (Tuscumbia, AL)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
September 15, 1897
Location
Tuscumbia, Alabama (34.731, -87.703)

Metadata

Model
gpt-5-mini
Short Digest
d440bedb49e1558f

Response Measures

None

Description

Newspaper accounts report a run beginning about Sept 15, 1897 and the bank 'closed its doors' Sept 16, 1897. Contemporary accounts attribute the run to a false story by J. A. May that $6,000 in securities had been robbed—an instance of misinformation that precipitated withdrawals. No reopening is reported; closure is described as a failure.

Events (2)
1. September 15, 1897 Run
Cause
Rumor Or Misinformation
Cause Details
A false tale by J. A. May that $6,000 of the bank's securities had been robbed, which credulous citizens believed and precipitated withdrawals.
Random Run
Yes
Random Run Snippet
May falsely claimed $6,000 securities robbed; tale triggered run
Newspaper Excerpt
A run started yesterday and was continued this morning.
Source
newspapers
2. September 16, 1897 Suspension
Cause
Rumor Or Misinformation
Cause Details
Closure followed the run triggered by May's false story about robbed securities.
Newspaper Excerpt
Today the Colbert County bank, Tuscumbia, Ala., closed its doors.
Source
newspapers

Newspaper Articles (2)
1. September 17, 1897 The Houston Daily Post Houston, TX
Article from The Houston Daily Post, September 17, 1897

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Article Text

Closed Its Doors, Nashville, Tenn., September 16.-Today the Colbert County bank, Tuscumbia, Ala., closed its doors. A run started yesterday and was continued this morning. The bank is two years old. Capital stock, $50,000; officials claim all liabilities will be paid, as they are small.

2. September 18, 1897 The Age-Herald Birmingham, AL
Article from The Age-Herald, September 18, 1897

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Article Text

COLBERT COUNTY BANK Its Failure Was the Result of May's Escapade in Birmingham. Special to The Age-Herald. Tuscumbia, Sept. 17.-A great deal of indignation is being expressed here concerning J. A. May's conduct in Birmingham, which is regarded as the cause of the failure of the Colbert county bank. He was drunk, otherwise he undoubtedly would have never pretended to have been robbed of $6,000 of the bank's securities, as he did not show them in his possession. Some credulous citizens believed his tale of woe, and started a run on the bank, which resulted in its failure.