Farmers & Merchants National Bank (Clarksville, TN)

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Episode Information

Episode UID
324101092
Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
32410 national
Charter Number
3241
Start Date
December 10, 1890
Location
Clarksville, Tennessee (36.530, -87.359)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d9c38116b1ca44ef

Response Measures

Capital injected, Full suspension, Books examined

Other: Receiver appointed and later rehabilitation / reorganization by stockholder assessment to resume business

Description

Receiver appointed Jan 7, 1891; controller revoked receivership and bank resumed April 23, 1891.

Events (6)
1. August 25, 1884 Chartered
Source
historical_nic
2. December 10, 1890 Run
Cause
Local Banks
Cause Details
Run followed suspension/failure of the Franklin Bank and related tobacco-firm failures in Clarksville, triggering heavy withdrawals.
Measures
Closed doors temporarily; suspended payments.
Newspaper Excerpt
A run on the Farmers' and Merchants' National Bank followed, and the doors were closed.
Source
newspapers
3. December 10, 1890 Suspension
Cause
Local Banks
Cause Details
Suspension occurred after failures of the Franklin Bank and large local tobacco firms and resulting run.
Newspaper Excerpt
Two or three hours later the Farmers' and Merchants' National Bank suspended payment.
Source
newspapers
4. January 7, 1891 Receivership
Newspaper Excerpt
E. S. Peck ... has been appointed receiver of the Farmers' and Merchants' Bank of this city.
Source
newspapers
5. April 23, 1891 Reopening
Newspaper Excerpt
The controller of the currency has revoked the commission of the receiver ... and has permitted the association to reopen for business.
Source
newspapers
6. October 19, 1893 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (24)
1. December 11, 1890 The Morning News Savannah, GA
Article from The Morning News, December 11, 1890

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CRASHES AT OL A RKES VILLE. A Bank and a Tobacco Firm Forced to Suspend. NASHVILLE, TENN., Dec. 10.-A special from Clarksville, Tenn., says: "The Franklin bank of this city suspended pay ment this morning. The failure was caused by the recent failure of Henry Seafert, of New York, a large tobacconist, with whom the Franklin bank had done a large credit business, The Franklin bank is a private bank, with a capital stock of $50,000. The assets and liabilities of the bank are not known as yet. "Kondick, Pet'us & Co., a large tobacco firm, made an assignment to-day. The suspension of the bank, in which the firm had a large deposit, and the stringency of the money market made it impossible for the firm to meet their obligations. Ia order to protect all their creditors alike, they assigned. The liabilities are $41,000. A statement of their assets has not been made. "The liabilities of the Franklin bank amount to over $200,000, and the assets exceed the liabilities by about $50,000. "The liabilities of Kondick, Pettus & Co. are over $400,000. The nominal assets 0Xceed this amount. "A run on the Farmers' and Merchants' National Bank followed, and the doors were closed. This was caused by the other failures, but that institntion will probably resume business in a day or two."

2. December 11, 1890 The Morning Call San Francisco, CA
Article from The Morning Call, December 11, 1890

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CLOSED DOORS. More Bank Failures Announced-Shipments of Gold From Europe. NEW YORK, Dec. 10.-The suspensi n of Hamilton & Bishop has been announced. The failure is considered unimportant. Hamilton & Bishop are bankers and brokers. They have made an assignment, with $37,000 preferences. ARKANSAS CITY, Dec. 10.-It is said the American Bank, which failed yesterday, will not resume. About $190,000 is due the depositors. It is understood the Federal authorities will take charge. NASHVILLE, Dec. 10.-A dispatch from Clarksville, Tenn., says: The Franklin Bank of this city suspended this morning. The failure was caused by the recent failure of Henry Seafert of New York, with whom the bank has been doing much credit business. The liabilities amount to over $200,000 and assets $250,000. The prospects for a settlement are discouraging. Kendrick, Pettus & Co., a large tobacco firm, assigned to-day. The suspension of the Franklin Bank and the stringent money market made it impossible for the firm to meet its obligations. The liabilities are over $400,000. The nominal assets exceed this amount. A run on the Farmers' and Mechanics' National Bank followed the above failures, and its doors were closed. This was caused by the other failures, but that institution will probably resume in a day or two. Business circles are greatly excited. SMALL ASSETS. CHICAGO, Dec. 10.-The assignee of the Chicago Safe and Lock Company, in which the missing millionaire, B. H. Campbell, held the chief interest, filed an inventory to-day, which was a great surprise. At the time of the failure it was announced that the assets would amount to $700,000. The inventory shows their total to be only $127,000. GOLD FOR NEW YORK. LONDON, Dec. 10.-The Times, in its financial article, says another million pounds in gold will be sent to New York. It repeats that Paris, Berlin and in a minor degree Amsterdam ought to recognize their responsibility in this matter. It urges Berlin bankers to send gold to America and points out that such action is called for as much in the interests of German investors as to prevent the difficulties in New York becoming overwhelming. Bullion to the amount of £350,000 was shipped to America to-day. NEW YORK, Dec. 10.-The gold which left Liverpool on the Majestic to-day is understood to be about $3,250,000. It is understood the Lahn, which sails from Southampton to-morrow, will bring enough to make a total of $5,000,000. CITY OF MEXICO, Dec. 10. - -The Commercial Telegraph Line closed its doors yesterday at Vera Cruz. It is reported to be bankrupt. It is rumored the Government will take up the line.

3. December 11, 1890 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, December 11, 1890

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CAPITAL AND LABOR. Financial Troubles Lead to Failures and Strikes. PANIC IN A TENNESSEE TOWN. Its Leading Business Men Insolvent-More Eight-Hour Demands to Be Enforced Next Spring. CITY OF MEXICO, Dec. 10.-The Commercial telegraph line closed its doors yesterday at Vera Cruz. It is reported to be bankrupt. It is rumored that the government will take up the line. DENVER, Dec. 10.-The grocery and importing house of John H. Carleton has been closed on attachments aggregating $24,000. The liabilities are $244,000; assets unknown. NASHVILLE, Dec. 10.-A special from Clarksville, Tenn., says: The Franklin bank, of this city, suspended this morning. The failure was caused by the recent failure of Henry Seafort, of New York, with whom the bank had been doing much credit business. The liabilities amount to over $200,000; assets, $250,000. The prospects for a settlement are discouraging. Kendrick, Pettus & Co., a large tobacco firm, also assigned today. The suspension of the bank and stringency of the money market made it impossible for the Lrm to meet its obligations. The liabilities are over $400,000, and the nominal assets exceed this amount. A run on the Farmers' and Merchants' bank followed, and the doors were closed. This was caused by the other failures, but that institution will probably resurue in a day or two. Business circles are greatly excited. CHICAGO, Dec. 10.-The assignee of the Chicago Safe and Lock Company, in which the missing millionaire, B. H. Campbell, held the chief interest, uled an inventory today, which was a great surprise. At the time of the failure it was announced that the assets would amount to $700,000. An inventory shows their total to beonly $127,000. New YORK, Dec. 10.-The suspension of Hamilton & Bishop was unnounced on the stock exchange this morning. Hamilton & Bishop are bankers and brokers. They made an assignment with $37,000 preferences. The failure is considered unimportant. ARKANSAS CITY, Kan / Dec. 10.-It is said that the American bank, which failed yesterday, will not resume. About $190,000 is due the depositors. It is understood that the federal authorities will take charge.

4. December 11, 1890 Evening Star Washington, DC
Article from Evening Star, December 11, 1890

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Tennessee Banks Suspend. The suspension of the Franklin Bank : of Clarksville, Tenn., yesterday was followed by the assignment of Kendrick, Pettus & Co., tobacco dealers. Two or three hours later the Farmers' and Merchants' National Bank suspended payment. The Franklin Bank was a private institution, with a capital stock of $52,000. Kendrick, Pettus & Co.'s liabilities are $410,000. Their assets are not known.

5. December 11, 1890 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, December 11, 1890

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DIRECTORS W. S. Culbertson, D. R. Noyes, L. D. Hodge, E.N. Saunders, B. Beaupre, John L. Merriam, J. W. Bishop, A. B. Stickney, F. A. Seymour, A. H. Wilder, E. F. Drake, W. R. Merriam, M. Auerbach. C. H. Bigelow. FINANCIAL REVERSES. Business Troubles, Reported From Various Sections. NEW YORK, Dec. 10.-Charles H. Hamilton and William F. Bishop. comprising the firm of Hamilton & Bishop, stock brokers and bankers, of 96 Broadway. made an assignment to Herman Aaron. with the following preferences: Jane S. Bishop, of Norwalk, Conn., $31.470, for money and securities loaned, and Jim Stevens. of Rome. N. Y., $6,400, also money loaned. Mr. Aaron took possession of the offices of the firm shortly after the commencement of its assignment. He said that the hatilities of the firm would not exceed. he thought, $75,000. The amount of the assets would not be known until the firm's books had been examined. MEMPHIS, Tenn., Dec. 10.-N. L Avery and Raphael Symes, conducting business under the firm name of N. L. Avery & Co., at Osceola, Ark.; Avery & Symes at Blitheville, Ark., and N. L. Avery at Frenchman's Bayou, Ark., made an assignment yesterday afternoon at Osceola, Ark. They were the principal merchants of that town. Liabilities $60,060, due principally to Memphis and St. Louis creditors. Assets nominaily $60.0 0. SAN FRANCISCO, Dec. 10.-Eastland, Fowler & Co., wholesale crockery and glassware dealers, failed yesterday. Liabilities, $192,000; assets, $53,600. KANSAS CITY, Dec. 10.-A special to the Star from Arkarsas City, Kan., says: The information is given out to-day that the American bank, which failed yesterday, will not resume business. A bank inspector and United States marshal are expected to-day who will take charge of the bank and close up mits business. There is about $190,000 due depositors. CLARKSVILLE, Tenn., Dec. 10-Two heavy failures occurred here to-day. The liabilities of the Franklin bank amount to over $-00,000, and assets exceed the liabilities by about $50,000. Th e creditors and directors hope for an early settlement. but prospects are discouraging. The liabilities of Kendrick, Pettus & Co. are over $400,000, assets above this amount. A run on the Merchants' National bank followed and the doors were closed. This was caused by the other failures, but that institution will probably resume business in a day or two. Great extemiente exists in business circles. INDIANAPOLIS, Dec. 10.-A special from Fort Wayne says: A.J. Dittoe & Co., retail grocers, assigned to-day with $10,000 liabilities and $8,000 assets,

6. December 13, 1890 Martinsburg Herald Martinsburg, WV
Article from Martinsburg Herald, December 13, 1890

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FINANCIAL AFFAIRS. Failures Reported in New York and other Parts of the Country. The New York clearing-house issued $500,000 additional certificates. The total now outstanding is $15,025,000. There has been some discussion of the wisdom of banks buying bills of exchange at the low rates now prevailing and importing gold against them. It is announced that the directors of the Bank of Commerce authorized the purchase of a large amount of sterling ex. change and to take out clearing-house certificates for this purchase. Advices from London says: "Bullion to he amount of £350,000 was withdrawn from the Bank of England for shipment to America." Charles H. Hamilton and William F. Bishop comprising the firm of Hamilton & Bishop, stock brokers and bankers of 96 Broadway, made an assignment to Harman Aaran. Assignee Aaron says the liabilities of the suspended firm would amount to about $75,000 Their assets are not as yet known. Tarlow & Hutshing, manufacturers of knit goods at 34 Walker ssreet, have been closed by thesheriff. Richard D. Young, perfumer at 100 William street, made an as ignment. CLARKSVILLE, TENN.-Tne Franklin Bank of this city, has suspended payment. The failure was caused by the recent failure of Henry Seafert, of New York, a large tobacconist, with whom the Franklin had been doing H large credit business. The Franklin Bank is a private bank, its capital stock is $50,000. The assets and liabilities of the bank are not known as yet. Kendrick, Pettus & Co., a large tobacco firm, made an assignment. The suspension of the bank, in which the firm had large deposits, and the stringency of the money market made it impossible for the firm to meet their obligations, and in order to protect all their creditors alike they assigned. The liabilities are $41,000. A statement of the assets has not been made. The liabilities of the Franklin Bank amount to over $200,000, and assets exceed the liabilities by about $50,000. The liabilities of Kendrick, Pettus & Co., areover $400,000; nominal e-sets exceed this amount. A run' on the Farmers and Mechants' National Bank followed, and the doors were closed. This was caused by the other failures, but that institution will probably resume business in a day or two. Great excitement exists in business circles. MEMPHIS, TENN.-N. L. Avery and Raphael Simmes, conducting business under the firm name of N. L. Avery & Co., at Osceola, Ark.; Avery & Simmes, at Blytheville, Ark.,. and N. L Avery, at Frenchman's Bayou, Ark., made an assignment at Osceola, Ark. They were the principal merchants of that town. Liabilities $60,000, due principally to Memphis and St. Louis creditors. Assets nominally $60,000. The failure is attributed to poor crops and inability to make collections. ARKANSAS CITY, KAN.-The information is given out that the American Bank, will not resume bu iness. A bank inspector and United States marshal will take charge of the bank and close up itsbusiness. There is about $190,000 due depositors. DENVER, CoL-The grocery and importing house of John H. Carleton was closed on attachments of $20,000. The liabilities are $24,000; assets unknown.

7. December 16, 1890 The Morning News Savannah, GA
Article from The Morning News, December 16, 1890

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FAILURES IN BUSINESS. Savannah and Mobile Creditors Close a Store at Dothan. DOTHAN, ALA, Dec. 15.-0. W. Pearce, a large merchaut here, was closed by Savar nah and Mobile creditors to-day. BANKERS AND BROKERS BREAK. PHILADELPHIA, PA., Dec. 15.-Maris & Smith, bankers and brokers of No. 20 South Third street, this city, made an assignment this afternoon to Samuel B. Huey. The assignment followed the entering of a judgment against the firm on a note for $15,000 in favor of John M. Maris, father of William Maris, senior member of the firm. Assignee Huey said to-night that the liabilities will probably exceed $300,000, distributed among a number of creditors. There are several debts ranging from $20,000 to $51,000. Nothing can be learned as to the assets of the firm. They managed to meet all of their engagements at the stock exchange up to the closing hour, and the assignment was not announced until after the closing hour. The firm has been gradually reducing its deals at the exchange for some time past, and its liabilities there are small. A BRICK COMPANY EMBARRASSED. NEW YORK, Dec. 15.-The Lorillard Brick Works Company, of No. 66 South street, at the foot of East Ninety-woventh street, and at Keyport, N. J., has been placed in the bands of a receiver. The liabilities of the company are not generally known, but are reported to amount to upward of $1,000,000, which includes mortgages on the property for $687,000. Assignee Seidler says the assets amount to $1,500,000, which is enough to pay every debt, with interest on claims, until paid, and leave a large surplus for Mr. Lorillard. The business will be continued by the assignee. In the trade it is said that the company has indorsed builders' paper to the amount of $200,000. A CRASH AT CLARKSVILLE. NASEVILLE, TENN., Dec. 15.-A special from Clarksville, Tenn., says: "Hancock, Halls & Co., proprietors of the Gracy tobacco warehouse in this city, made an assignment to E. A. Ely at a late hour Saturday evening. It is not known what the liabilities are, but they are said to be about $180,000. The assets are thought to greatly exceed the liabilities. The stringency in the money market caused the assignment. "The national bank examiner reports favorably as to the condition of the Farmers' and Merchants' Bank. It is not known whether the bank will be able to resume business, but the prospects are encourag ing." A BREAK AT DALLAS, ST. LOUIS, Mo., Dec. 15.-A special to the Republic from Dallas, Tex., says: "The wholesale liquor house of A. H.Lawrence & Co. made an assignment to-day to S. B. Hopkins, trustee. The liabilities are about $128,000. The assets have not been figured out yet." A REAL ESTATE AGENT ASSIGNS. RICHMOND, VA., Dec. 15.-Dr. Charles L. Steel, real estate agent, assigned to-day. His liabilities are $45,000. His assets are estimated at $25,000.

8. December 16, 1890 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, December 16, 1890

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FINANCIAL FROST BITES. A Few Failures of Minor Importance Recorded. CHICAGO, Dec. 15.-The Morrison, Adams & Alien company, manufacturers of paints and putty. made an assignment to-day to Frank S. Frederick. The assets are $5,000 and the liabilities $58,000. The concern has been in business a number of years. It was the largest putty-mannfacturing establishment in the United States. The members of the firm say the destruction of their factory by the Yerkes Cal le Car syndicate some months ago caused the embarrassment which led to the failure. The putty factory stood on a site wanted by the cable syndicate for a tunnel, and the factory one night was suddenly dismantled by a gang of cable company employes. Suit has been entered by the firm against the tunnel construction company for $30,000. NEW YORK, Doc. 15.-Louis Falk, carpenter and builder, failed to-day, with liabilities of $40,000, and nominal assets $60,00 : CLARKSVILLE, Tenn., Dec. 15-Hancock, Hallams & Co., proprietors of the Gracey Tobacco warehouse of this city, made an assignment to W. J. Ely at a late hour Saturday evening. It is not yet known what the liabilities are, but it is said to be about$ 18 ;000. The assets are thought to greatly exceed the liabilities. The stringency of the money market caused the assignment. The national bank examiner reports favorably as to the condition of the Farmers' and Merchants' bank. It is not known whether the bank will be able to resume business, but prospects are encouraging. SCRANTON, Pa., Dec. 15.-The large clothing house of Charles A. Hindsell, in this city, was closed by the sheriff to-day on an execution of $12,240 obtained by Clarence Kenyon, of New York. There are but few other liabilities. The failure was due to tightness of money. CINCINNATI, Dec. 15.-Samuel Wolfstein was appointed receiver this morning for the dry doods firm of Bell, Miller & Co., which failed Saturday. His bond was fixed at $500,000. PALESTINE, Tex., Dec. 15.-The Theodore Ash dry goods house has assigned. Liabilities, $45,000; assets, $40,000. PHILADELPHIA, Dec. 15.-In court this afternoon a judgment was entered, with execution, against William Maris and William Hastie Smith, trading as Maris & Smith, bankers and brokers. by John M. Maris, on a judgment note for $15,000. The firm of Maris & Smith is one of the oldest on the street, and had a wide reputation. It was stated that this judgment would be likely to cause an assignment by the firm. W.W. Maris, the senior partner, has had a long connection with the leading financial circles of Philadelphia.

9. December 17, 1890 The Globe-Republican Dodge City, KS
Article from The Globe-Republican, December 17, 1890

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HISCELLANEOUS. THE Peninsular & Oriental Steamship Company's steamer Nepaul stranded at the Plymouth (England) breakwater during the prevalence of a dense fog. After considerable trouble all got safely to shore. THE Crow Indians of Montana have signed the treaty providing for the sale of 1,850,000 acres of their lands to the Government for $946,000. THE French Government proposes to reduce excise duty on beet roots in order to encourage sugar making in the country. OWING to an accident to the starboard engine, the trial trip of the cruiser Newark was stopped after the engines had been running at full power for nearly three hours. The trial trip will be repeated. The vessel averaged 19½ knots per hour. SAM PAUL. the Chickasaw "statesman," who mortally wounded his son Joe over a woman, has fled to parts unknown. THE hostiles in the Northwest have divided into factions. In one of the fights twenty Sioux were said to be killed. CHARLES MILLER, the boy who murdered two young men in Wyoming while traveling in a box car, has been convicted. THE London Times says the whole monetary system of the United States is in a muddle. A RUN on the Farmers' & Merchants' Bank at Clarksville, Tenn., caused it to fail. JUDGE GRESHAM, at Chicago on the 11th, refused relief to Counselman for violating the Inter-State commerce law. The case now goes to the Supreme Court. THE Minneapolis flour trade is reported very dull. VENABLE & HERMANN, liquor dealers, New York, have failed for $300,000; also Henry Seibert, tobacco, for $250,000. ONE thousand men have been laid off at the Chicago works of the Illinois Steel Company. CAPTAIN HEALY, of the revenue cutter Bear, reports great suffering among the Esquimaux of Alaska. THE porcelain factory at Cimelow, Russia, owned by Prince Lubesicky, was destroyed by fire. Eight employes were burned to death. BUSINESS failures (Dun's report) for the seven days ended December 11 numbered 374, compared with 312 the previous week and 290 the corresponding week of last year. GEORGE F. WORK, who was the master mind of the Work-MacFarlane-PfefferDungan syndicate, which, it was alleged, wrecked the Bank of America and the American Life Insurance Company, has been arrested at Philadelphia. THE tug Vandecook sank at her dock in Jersey City. Two men were drowned. Two small children were fatally burned at Jackson, Tenn., from grate fires. THE United States Supreme Court reversed the ruling under which the convicted murderers of Sheriff Cross and posse had been sentenced to be hanged at Paris, Tex. The crime occurred in the Neutral Strip and the arguments turned on the question of jurisdiction. LA GRIPPE is said to be proving fatal to the ghost dancers of Big Foot's band of Cherry Creek hostiles. THE Druid duck mills at Baltimore, Md., have failed. The liabilities were heavy. Three hundred and fifty operatives were employed. THE Anchor line steamer City of Baton Rouge has been sunk on a snag in the Lower Mississippi. Two lives were lost. The boat was valued at $75,000 and the cargo at $100,000.

10. December 24, 1890 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, December 24, 1890

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LATER NEWS. THIRTEEN patients were inoculated at Mount Sinai and St. Luke's Hospitals in New York City with Dr. Koch's lymph for the cure of consumption. LIEUTENANT-COLONEL ANDREW H. YOUNG, Assistant Quartermaster in the United States army, died a few days ago at Dover, N.H. THE mills of the Clark Thread Company in Kearney and Newark, N. J., closed down and almost three thousand people were thrown out of employment. THE United States cruiser Newark failed to complete her trial trip off Delaware Breakwater, owing to the breaking of two bolts in the radial gear of the low pressure cylinder. AN epidemic of scarlet fever is raging in Cabell County, W. Va. THE Crow Indians, in full council, have ;old to the Government their lands west of the divide on Price's Creek, Montana, and the adjoining strip fifteen miles wide. Consideration, $546,000. Number ot acres purchased, 1,850,000. THE Texas cotton crop. based on returns from 144 cotton-growing counties, will be 1,818,000 bales, against 1,704,000 bales last year. EASTLAND, FOWLER & Co., wholesale crockery and glassware dealers, of San Francisco, Cal., have failed. Liabilities, $192,000; assets, $53,600. GEORGE MARTIN, the colored murderer of William Crouch, was executed at Meridian, Miss. THE Franklin Bank at Clarksville, Tenn., suspended payment. Two hours later the Farmers' and Merchants' Bank, of the same place, closed its doors. These failures caused Kendrick, Pettus & Co., tobacco dealers, of Clarksville, to make an assignment. SECRETARY WINDOM announced that no more four per cent. Government bonds would be accepted. A CONFERENCE of Republican Senators appointed a committee on financial legislation. THE Italian Parliament was opened with a speech by King Humbert. MARSHAL F. GILLOW, alias A. C. Stewart, who was wanted by the Boston police for forgery and other crimes, committed suicide at Hubbard's Cove, Nova Scotia, and his wife also took her life at the same time. MR.. PARNELL received an enthusiastic welcome to Dublin, Ireland; he seized the office of United Ireland and ejected the acting editor; the paper will hereafter support Parnell; the anti-Parnell manifesto was made public. THE man who shot and killed a bride and bridegroom at Clermont-Ferrand, France, just after the wedding procession had left the church, subsequently committed suicide. The murderer proves to have been a rejected suitor for the lady's hand.

11. January 7, 1891 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, January 7, 1891

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Receiver Appointed. CLARKVILLE, Tenn., Jan. 7.-E. S. Peck, a banker of Frankfort, has been appointed receiver of the Farmers' and Merchants' Bank of this city. Nothing is stated in regard to the affairs of the bank.

12. January 8, 1891 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, January 8, 1891

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In Financial Straits. CLARKEVILLE, Tenn., Jan. 7.-E. S. Peck, a banker of Frankfort, has been appointed receiver of the Farmers and Merchants bank of this city. Nothing is stated in regard to the affairs of the bank. GALVESTON, Tex., Jan. 7.-Judge Pardee has appointed Packard, of Houston, receiver of the Texas Western railroad. This is the second placing of this property in the hands of a receiver. When the property was purchased a year ago by Elijah Smith, of New York, under foreclosure, it was turned over to him, butsince has been running in debt.

13. January 8, 1891 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, January 8, 1891

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PIOUS BANKER KEAN HELD. Swindled Depositor's Attorney Reviles Him-Elijah Smith's Embarrassment. CHICAGO, Jan. 7.-Banker Kean was today held to the grand jury in bonds of $8,000, on a criminal charge brought against him by Depositor Royer, charging him with receiving deposits when he knew be was insolvent. Royer's attorney scored Kean in a merciless manner. Bail was promptly furnished. CLARKSVILLE, Tenn., Jan. 7.-E. S. Beck, a banker of Frankfort, has been appointed receiver of the Farmers and Merchants' bank, of this city. Nothing is stated in regard to the affairs of the bank. GALVESTON, Tex., Jan. 7.-Judge Pardee has appointed Packard, of Houston, receiver of the Texas Western railroad. This is the second placing of this property in the hands of a receiver. When the property was purchased a year ago by Elijab Smith, of New York, under foreclosure, it was turned over to him, but since has been running in debt.

14. January 8, 1891 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, January 8, 1891

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The Clarksville (Tenn.) Bank Failure. (By telegraph to the Dispatch.) NASHVILLE. TENN., January 7.-A Clarksville (Tenn.) special says: E. Speck, a banker of Frankfort, Kan., has been appointed receiver of the Farmers and Merchants Bank in this city. Nothing can be stated concerning the winding up of the business of the bank until the receiver arrives and matures his plans.

15. January 12, 1891 Daily Tobacco Leaf-Chronicle Clarksville, TN
Article from Daily Tobacco Leaf-Chronicle, January 12, 1891

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Bank Examiner Campbell. Bank Examiner J. C. Campbell left this morning for his home at Montgomery, Ala., after having duly in stalled E. T. Peck as receiver for the Farmers & Merchants Bank. Mr. Campbell has made many friends during his brief stay in the city, and in turn he speaks in complimentary terms of his treatment at the hands of the people of Clarksville. By the way, he and Thos. Munford enlisted in the same regiment at the breaking out of the war and were warm friends. Notwithstanding the fact that Mr. Camptell was reared north of the Ohio he "fit" with the Rebs until the surrender and has since made the south his home. He was appointed Bank Examiner during President Cleveland's administration and was retained by the present. He is an elegant gentleman, who will make friends wherever he goes.

16. January 15, 1891 The State Republican Jefferson City, MO
Article from The State Republican, January 15, 1891

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FRANK HIXON was killed and John Ross fatally wounded at Monroeville, Ala. in a fight over a dog. A RECEIVER was appointed for the Farmers & Merchants' Bank of Clarksville, Tenn Ir was reported that H. Webster Crowl. ex-city councilman, prominent real-estate operator and a leader in social circles at Baltimore, had victimized his friends and the Baltimore banks out of more than $300,000. THE Indiana State Board of Agriculture asks for an appropriation of $200,000 for its display in the world's fair at Chicago. 111. A TRAIN on the Richmond & Danville railroad ran off the track on passing over a trestle near Gaffney City, S. C., killing the engineer. fireman and two brakemen. and seriously injuring three others. IT was stated that the Hatfield-MeCoy vendetta in Logan County. W. Va., which had been quiet for some months, had been renewed. and that in a fight ereek six men were M. CONLEY. a memthe Steuben County a citizen of Cohocton, on ber leading FRANK Hart of leading $100,000. killed. bar N. Y., and dis appeared. leaving debts of THE village of Springfield Center, N. Y., was nearly destroyed by flames. BY the explosion of certridge which been in an oven to dry of Amherst. blown off and Mrs. Powell was fatally J. had both R. legs Powell. placed injured. Mass., Nelson had Mr. THE dates of the National Prohibition have camp-neeting at Decatur, I'L. been fixed for July 14 to 26. JOHN MORRIS and Frank Chatham, well-known ranchmen of renewed Carbondale. two Col., met in Leadville and an old quarrel. and both were fatally shot. THE falling of a scantling at the Church new of St. John's Lutheran of at edifice Lancaster, Pa., caused the death four men. BILLY DAVIS, a Pueblo (Ool.) negro, and and killed his foster-mother shot foster-brother in R quarrel about some property. THE Denver Iron & Steel Company, incorwith a capital of $5,000,000. was porated at Denver, Col. PETERS and her daughter Cordele, were robbed MRS. and burned to death in Ga. McCLENNAN, employed Ballston at SAMUEL West's paper mill at two George N. Y., was drawn between roasted hot Spa, cylinders and crushed and to death. from fifty Kansas towns s REPORTS severest storm of many years that the in the Sunflower State. Tex., two AT of earthquake were the shocks were leveled of was raging chimneys Rusk, well-defined felt. with Several and sleepers in various portions town were shoemakers' strike at RochN. Y., has been 10 earth Titkgreat awakened. declared off. and 12 ester, and Willie Barren, were JOSEPH of age, of Cassville, while Wis., playyears drowned in the Mississippi ing on the boys ice. aged 15, 17 and 19 years and THREE caught at Springfield, Mass., a series were to having.committed that city. onfessed twenty-three burglaries in Abbott funeral of the late Emma Hall in ChiTHE at Central Music attook place on the 9th and was of eago tended. largely wife murMURPHY, a colored Tex. JACOB was hanged at Caldwell, the mines derer, copper shipped from during the in season the THE Lake of navigation Superior region in 1890 amounted to 77,686,414 Mount pounds. Vernon, Mo., fifteen two newspa- dwellAT offices, a bank and fire. 13 and ings per were dstroyed by Two NEGRO Haute, boys aged Ind., 11 confessed ) years at Terre burned their father's house last 840 which was in the building. that March they for the purpose of securing

17. January 16, 1891 Daily Tobacco Leaf-Chronicle Clarksville, TN
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FINANCIAL MATTER. Farmers & Merchants Banks Will Possibly Resume. The committee of directors have been busy the past two days looking through the affairs of the Farmers & Merchants bank, and they find the situation a great deal better than the most sanguine had expected. The stockholders have all been notified to meet here next Tuesday, when the question of resuming business will be determined. There is scarcely a doubt that the bank will open up again. Some of the largest stockholders, who have suffer+ d greatest in the wreck are without the means to increase their holdings, but they will have no difficulty in hypothecating their stock as collateral for the money, as confidence has been restored, and the stock, which could not have been sold two weeks ago at twenty five cents on the dollar could not now be bought at seventy-five cents. Receiver Peck says that the wrecking of this bank was the greatest outrage that has been practiced upon the community; that there was no cause whatever for it. It was simply a big scare and thoughtless, recklessness that caused the run on the bank and great has been the sacrifice. But for this run Hancock, Hallums & Co. would have pulled through and would have saved others. who were forced to go down with them. Mr. Peck has endeared himself to all connected with the bank. He has shown himself to be not only a business man of the highest order, but a gentleman of integrity and unselfish motives. Our people did not expect lavors whatever. They knew the receiver would wind up the bank at a salary of about $2,500 a year-a good fat piece of pie-and he was not expected to throw it away. But his first step was to look through the af fairs of the bank and then he commenced stiffening the spinal columns of the stockhold rs, telling them that it was a shame to let the bank go under when they could so easily reinstate it and save their stock and the community, which would necessarily suffer by winding it up. He told them how to proceed and urged every man to pull off his coat and go to work. They took courage and did as he directed, and now the pros. pects are that the bank will soon be stronger than it ever was. Mr. Peck

18. January 21, 1891 Daily Tobacco Leaf-Chronicle Clarksville, TN
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# The Bank Meetings. The stockholders of the Farmers & Merchants bank met yesterday evening. After some discussion of matters, it was decided that the condition of the bank was such as to enable them to resume business by paying in 25 per cent. additional on the stock, and application has been made to the comptroller for permission to make the assessment and re-open. Another and more serious trouble, however, presents itself, and that is the attitude of the depositors. Some agreement must be made with this class before anything more can be done, otherwise the bank would be defeated. There is a great deal to be done preparatory to resumption and it will require some time yet to settle matters. The meeting of the Franklin bank creditors amounted to nothing. The appointment of Mr. Merritt, assistant receiver as the representative of creditors in connection with Mr. Poindexter, seemed to give satisfaction. There were 25 or 30 present and they only appointed a committee to look after minor affairs.

19. February 11, 1891 Daily Tobacco Leaf-Chronicle Clarksville, TN
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E. T. Peck, Cashier. The directors of the Farmers & Merchants bank held a meeting today and elected E. T. Peck cashier of the bank. This was all that was done with the exception of discussing the affairs of the bank at some length. It was decided to open the doors of the bank for business just as soon as the comptroller issues his orders to that effect. It will only take a few days now to have the bank in running order. Mr. Peck's election to the responsible position of cashier is a compliment of which any man should feel proud under the circumstances and no one appreciates the fact more than the recipient of the honor. He and his family will prove valuable acquisitions to Clarksville

20. April 20, 1891 Daily Tobacco Leaf-Chronicle Clarksville, TN
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ITS DOORS OPEN. Farmers & Merchants Bank Ready for Business. e public will be glad to 7! tor 0. h for Clarksville and ding country. Last Dec n misfortunes came this bank was forced to eason of a run being made 7 its depositors. E.T. kfort, Kansas, was ver of the bank, and ed here and found the e institution hopeful, he < to reorganize it, and et. His effort was a stror being backed up by the ers it was crowned with doors of the bank as a ce were thrown open this and business is being carri yore. B Thoma 'H 'sot wn far and wide for his ty and strict integrity Was ident of the bank, and entire attention to the inter institution. M. Savage, ell and favorably known le of the city and try, that introduction is y, is vice-president. E. recognition of his untiring organizing the bank, and unt of his thorough know banking business was ier. e board of directors is e following well known : H. Elliott, M. Savage, man, H. C Merritt, ling, J. J. Garrett, H. T. G. W. Jesup. the man who isacquainte business men of Clarksvill ppe 01 18 ers and directors of this ng the best in the county. SB umoux II ard; business gentlemen in oublic has the utmost arting out under the new n each and every man e business of the Farmers ts National bank will ake the institution better er was, and will do all er to advance the financi ts of the city and surrou try. Having this end in ask a continued share of mage promising to use the avor for the benefit of 'sue is a fact worth repeating is the first national ever went into the receiver in the United has resumed business. 1 reason of this said Bank ( Campbeil to a reporter,

21. April 23, 1891 Telegram-Herald Grand Rapids, MI
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CREAM OF SPECIALS. A Glasgow woman has left Salvation. is: Booth $850,000. R. T. Almy & Co., clothiers at Boston, have assigned; debts, $110,000. The Spanish eabinet has brought forward a bill to prohibit labor on Sunday, Robert Watson was killed by falling slate in a egal mine near Brazil, Ind., Tuesday. Nine thousand dollars was found in the bustle of a deceased maid at Greensburg, Pa. Fire destroyed 15,300,000 pounds of sugar cane belonging to the Laberinto estate near Cifuentas, Cuba. Henry Patrick, a foreman at the Nickel Plate mine, Brazil, Ind., was killed by lightning Tuesday. Tuesday, the Indiana grand commandery of Knights Templar met in annual convention at Terre Haute. Swindlers fleeced the president of the Nephi (Utah) national bank out of $6,000 by the gold brick scheme Tuesday. It was reported in official circles that Germany was about to cede all the west African district south of the Congo to England. An explosion of gas Tuesday in the Edgar Thomson steel works at Braddoek, Pa., dangerously burned four men and two boys. Baron Hirsch has bought a large tract of land near Ridgeway, Pa., on which he will colonize Russian Jews to cultivate sugar beets. A convention of wholesale grocers of the smaller cities throughout the west opened at St. Louis Tuesday. Sixty delegates were present. Gen. Sherman's daughter Elizabeth, says she and her sister will accept the fund being raised in their behalf as a tribute to their father's memory. Shoe manufacturers, Elliott & Co., of Haverhill, Mass., doing a yearly $100,000 business, have shut down because of labor agitation and dull trade. Nellie Goodson, aged 10, in trying to get into her father's house, near Greenville, Ill., by means of a window was choked to death by the sash falling on her. The Farmers' and Merchants' bank of Clarksville, Tenn., has resumed busi, ness with an abundance of money to meet any and all claims that may be presented against it. The funeral of Bishop Gilmour was held Tuesday at Cleveland, a number of Catholic prelates[participating in the ceremonies. The body was buried in the crypt of the cathedral.

22. April 24, 1891 The Columbia Herald Columbia, TN
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The suspended Farmers' and Merchants' National Bank of Clarksville has elected fffeers, and will resume business to-day. The Bank Examiner says the concern's affairs have been straightened out, and that its condition LB all that could be desired.

23. April 24, 1891 The Morning News Savannah, GA
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CLARKSVILLE'S BANK. The Controller of the Currency Rsvokes the Receivership. W ASHINGTON, April 23.-The controller of the currency has revoked the commission of the receiver of the Farmers' and Merchants' National Bank of Clarksville, Tenn., and has permitted the association to reopen for business. The bank was closed and A receiver appointed Jan. 3, 1891. The stockholders have, by voluntary assessment, made good the impairment of the capital stock, and it resumes business in an entirely solvent condition. E. T. Peck, the late receiver, has been elected cashier.

24. May 20, 1892 Daily Tobacco Leaf-Chronicle Clarksville, TN
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Bank Examiner Campbell. J. O. Campbell, of Birmingham, Ala., is in the city inspecting the national banks. Mr. Campbell is the bank examiner who had charge of the Farmers' and Merchants' Bank when it suspended payment, and while he was here he made many friends, who are glad to see him on his return. He will be in the city only a day or two.