American Bank & Trust Company (Memphis, TN)

Episode Information

Episode UID
4719483591272
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
471948359 hash
Start Date
December 27, 1905
Location
Memphis, Tennessee (35.150, -90.049)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
188cea77398ca705

Response Measures

None

Description

Articles state the bank suspended business alongside a trust that went into receivership; American's permanent fate is not explicitly stated.

Events (1)
1. December 27, 1905 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension occurred in connection with failure of Merchants' Trust Company (overloans on discounts) and related insolvency in allied institutions.
Newspaper Excerpt
The American Bank & Trust company ... have suspended business.
Source
newspapers

Newspaper Articles (3)
1. December 27, 1905 Albuquerque Evening Citizen Albuquerque, NM
Article from Albuquerque Evening Citizen, December 27, 1905

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Article Text

MEMPHIS BANKS SUFFER FAILURE Merchants' Trust Company of That City Closes Its Doors. TWO SMALLER GO WITH IT Same Old Story of Over Loans on Discounts and Small Cash in Vaults. Memphis, Tenn., Dec. -The Merchants' Trust company has closed its doors and a receiver has been appointed. The institution has a capital of $200,000. The American Bank & Trust company and the Mechanics' Savings bank have suspended business. These are small institutions, allied with the Merchants' Trust company. The cause of the failure of the Merchants' Trust company is said to have been overloans on discounts. The Merchants' Trust company recently absorbed the Memphis National bank, and it is stated, owns a controlling interest in the American Savings Bank & Trust company. The latter institution has practically absorbed the Mechanics' Savings bank. The suspension of the three institutions caused but little excitement in financial circles.

2. December 27, 1905 Santa Fe New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe New Mexican, December 27, 1905

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Article Text

MEMPHIS BANKING HOUSES GO UNDER Three Institutions Closed Doors There. LITTLE EXCITEMENT CAUSED Statement Issued Showing Condition as to Assets and Liabilities. Memphis, Tenn., Dec. 27.-The Merchants Trust Company has closed its doors and a receiver has been appointed. The institution has a capital of $200,000. The American Bank and Trust Company, and the Mechanics' Savings Bank <have also suspended business. These are small institutions allied with the Merchants' Trust Company. Cause of Suspension. The cause of the suspension of the Merchants' Trust Company, is said to have been over loans on discounts. The Merchants' Trust Company recently absorbed the Memphis National Bank and it is stated that it owns the controlling stock of the American Savings Bank and Trust Company. The latter institution has practically ings Bank. absorbed the Mechanic ree instituThe suspension of tl itement in tions has caused little financial circles. Statement of the conA condensed staten Trust Comditions of the Mercha ness on Depany at the close of as follows: cember 26, was given Indebtedness Total assets $3,665,055. of every character to depositors $3, 132,319. All other obligations exclusive of capital stock is $889,058, Cash actually on hand $30,000. New York Report. New York, Dec. 27.-The American Savings Bank and Trust Company of according to a recent statement, owed the depositors $625,000. According to a recent statement the Merchants Trust Company of Memphis owes depositors $605,000.

3. December 27, 1905 Las Vegas Daily Optic Las Vegas, NM
Article from Las Vegas Daily Optic, December 27, 1905

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Article Text

Fail. Memphis. Memphis, Tenn, Dec. 27.-The merchants Trust company has closed its doors and a receiver. nas been appointed. The institution has a capital of $200,000. The American Bank n Trust company and Mechanics' Sav. inzs bank have also suspended bust. ness. These are small Institutions al. lied with the Merchants' Trust company. The cause of the suspension of the Merchants' Trust company is said to have been over loans on discounts. The Merchants Trust company recently absorbed the Memphis National bank, and, It is stated, owns the con frelling stock of the American Sav. ings Bank & Trust company. The lat. incer WHON has practically absorb. ed the Mechanics' Savings bank. The suspension of these three institutions caused some little excitement in finanBanks Owe Over a Million. New York Dec. 27.-The American