6526. Lenora National Bank (Morehead, KY)

View Charter #7593 on SPMC

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
7593
Charter Number
7593
Start Date
November 18, 1905
Location
Morehead, Kentucky (38.187, -83.451)

Metadata

Model
gpt-5-mini
Short Digest
91ed32a0150e261b

Response Measures

Capital injected, Full suspension

Other: Bank was placed in the hands of a receiver, declared insolvent, then restored to solvency and permitted to reopen; later reported plans to merge with the Morehead bank (merger/takeover).

Description

OCR variants in articles show Leonora in some pieces; corrected to Lenora per provided bank info. Newspaper reports: directors closed the bank after an unavoidable run in mid-November 1905; a receiver was appointed (reported Nov 20, 1905) and the bank was later restored and permitted to reopen Jan 30, 1906. Dates taken from articles (Nov 18 closure implied by a Saturday reference in the Nov 21, 1905 paper; receiver date reported Nov 20, 1905).

Events (6)
1. February 3, 1905 Chartered
Source
historical_nic
2. November 18, 1905 Run
Cause Details
Directors closed bank after an unavoidable run; article does not specify a triggering rumor or bank-specific scandal.
Measures
Directors closed the bank (suspended operations)
Newspaper Excerpt
The Lenora National Bank of Morehead, Ky., was closed Saturday by the directors because of an unavoidable run, as stated by the cashier
Source
newspapers
3. November 20, 1905 Suspension
Cause
Government Action
Cause Details
Bank was declared insolvent and placed in the hands of a receiver (receivership following suspension/closure)
Newspaper Excerpt
declared insolvent and placed in the hands of a receiver on Nov. 20 last
Source
newspapers
4. January 30, 1906 Reopening
Newspaper Excerpt
has been restored to solvency and permitted to reopen its doors.
Source
newspapers
5. February 13, 1906 Other
Newspaper Excerpt
the Lenora National bank ... which recently resumed business after a suspension of several weeks, will merge with the Morehead bank
Source
newspapers
6. May 9, 1906 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (4)
1. November 21, 1905 Evening Star Washington, DC
Article from Evening Star, November 21, 1905

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Article Text

KENTUCKY BANK CLOSED. The Cashier Reports an Unavoidable Run on the Institution. The Lenora National Bank of Morehead, Ky., was closed Saturday by the directors because of an unavoidable run, as stated by the cashier of the bank in a telegram to the controller of the currency. This bank was organized February 3, 1905, to succeed the Lenora Deposit Bank. W. W. Utterback was president and Luke P. V. Williams was cashier. The following is a statement.of the rèsources and liabilities of the bank, as shown by the last report of condition to the controller, dated August 25, 1905: Resources-Loans and discounts, $47,392,24; overdrafts, $365.96; United States bonds to secure circulation, $6,500; premiums on bonds, $300.63; banking house and furniture and fixtures, $8,231.74; due from banks and bankers, $7,944.36; cash and cash Items, $3,900.02; redemption fund, $325. Total, $74,959.95. Liabilities-Capital stock, $25,000; undivided profits, $635.42; circulation, $6,500: individual deposits, $42,824.58. Total, $74,959.95.

2. January 31, 1906 Grant County Herald Lancaster, WI
Article from Grant County Herald, January 31, 1906

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Article Text

Bank Recovers Its Solvency. Washington, Jan. 30.-The Leonora National bank of Morehead, Ky., which was declared insolvent and placed in the hands of a receiver on Nov. 20 last, has been restored to solvency and permitted to reopen its doors.

3. February 2, 1906 Mount Vernon Signal Mount Vernon, KY
Article from Mount Vernon Signal, February 2, 1906

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Article Text

Mcrehead Bank May Reopen. Washington, Jan. 30.-The Leonora National bank, of Morehead, Ky., which was declared insolvent and placed in the hands of a receiver on November 20 last, has been restored to solvency and permitted to reopen its doors.

4. February 16, 1906 Mount Vernon Signal Mount Vernon, KY
Article from Mount Vernon Signal, February 16, 1906

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Article Text

Banks Will Merge. Owingsville, Ky., Feb. 13.-It was stated that the Lenora National bank of Morehead, Rowan county, which recently resumed business after a suspension of several weeks, will merge with the Morehead bank.