Article states owner executed a deed of trust and creditors were secured; no reopening or receiver mentioned.
Events (1)
1.May 22, 1869Suspension
Cause
Voluntary Liquidation
Cause Details
Owner A. J. Duncan executed a deed of trust to secure creditors, leading to suspension.
Newspaper Excerpt
The Bank of the Union, Nashville, suspended last Saturday. The owner, A. J. Duncan, made a deed of trust. The creditors of the bank, it is said, are secured against loss.
a The Bank of the Union, Nashville, suspended last Saturday. The owner, A. J. Duncan, made a deed of trust. The creditors of the bank, it is said, are secured against loss.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.