Memphis National Bank (Memphis, TN)

Episode Information

Episode UID
363301124
Episode Type
Suspension โ†’ Reopening
Bank Type
national
Bank ID
36330 national
Charter Number
3633
Start Date
August 15, 1893
Location
Memphis, Tennessee (35.150, -90.049)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
09dc94693616f4bf

Response Measures

None

Description

Articles describe a city-wide invocation of the ninety-day law by Memphis banks (temporary suspension); no specific mention of this bank or permanent closure.

Events (3)

1. February 7, 1887 Chartered
Source
historical_nic
2. August 15, 1893 Suspension
Cause Details
Banks in Memphis jointly invoked the ninety-day law (temporary suspension of certain payments) and refused to cash out-of-town checks.
Newspaper Excerpt
The savings banks of Memphis, at a private meeting held on Monday night, decided to invoke the protection of the ninety-day law. The other banks claim to be prepared for all emergencies. They refuse to cash checks on outside cities...
Source
newspapers
3. October 10, 1905 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)

Article from The Indianapolis Journal, August 16, 1893

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Article Text

Other Business Troubles. MEMPHIS. Tenn., Aug. 15.-The savings banks of Memphis, at a private meeting held on Monday night, decided to invoke the protection of the ninety-day law. The other banks claim to be prepared for all emergencies. They refuse to cash checks on outside cities. because, they say, they san collect nothing but certified checks. MEMPHIS, Tenn., Aug. 15.- The Cole Man. ufacturing Company to-day filed an application before Judge Beard, in the Chancery Court. asking that a receiver be appointed to take charge of the personal property of W. A. Collier, of the Memphis Appeal-Avalanche Company, and his associates in business, who are named in the bill. SAN FRANCISCO, Aug. 15.-The S. P. Taylor Paper Company, one of the largest paper houses on the coast, has made a voluntary assignment, The Pioneer paper mills, belonging to the same company, have also suspended. Liabilities, $190,000; assets, $400,000. BUFFALO. Aug. 15.-The Union Steam boat Company, after a successful existence for a quarter of a century. has passed into the hands of receivers. The company has always been one of the greatest earners among the transportation lines on the lakes. CHICAGO, Aug. 15.-The Lakota Hotel, on Michigan boulevard, J. Foster Rhodes, manager, went into the hands of a receiver to-day. Assets, $500,000; liabilities, hall


Article from The San Francisco Call, June 25, 1897

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Article Text

YEARLY LOSS OF PAPER MONEY. To the Editor of the San Francisco Call-SIR: In order to obtain the annual percentage of loss of paper money in circulation I have searched through the reports of the Treasury Department from 1867 to 1897 for a record of National banks which have failed and have had their circulation withdrawn and canceled as the law requires. In no report have I found any reference made to the annual percentage of loss. On page 27 of Comptroller Knox's report for 1883 we find groups of failed banks with dates of organization. By going back through the record of the department to the volume for 1875 we find the dates when receivers were appointed for the fifteen banks which had failed prior to 1870. With the date of organization and date of failure thus found we are able to determine how long these fifteen banks were in existence, and having the percentage of the lost notes given at the last date named (1883) we can calculate the annual percentage of loss. I have selected eight of these fifteen National banks as a fair average of the whole fifteen, which are thus reported: Attica, N. Y.; Farmers' and Citizens', Brooklyn, N. Y.; First National, Bethel, Conn.; Rockford, III.: Austin, Nev.; Merchants', D. C.; Memphis, Tenn., and New Orleans, La. They may be numbered and grouped as follows: