Article only reports a suspension with no later reopening mentioned; disposition uncertain.
Events (1)
1.December 24, 1907Suspension
Cause
Macro News
Cause Details
Suspension attributed to general financial stress (Panic of 1907 / systemic banking strain).
Newspaper Excerpt
ANOTHER BANK FAILURE. MEMPHIS, Tenn:, December 24.-The Memphis Bank today suspended, supposedly on account of the general financial stress.
Source
newspapers
Newspaper Articles (1)
1.December 25, 1907The Pacific Commercial AdvertiserHonolulu, HI
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Article Text
ANOTHER BANK FAILURE
MEMPHIS, Tenn:, December 24.-The Memphis Bank today suspended, supposedly on account of the general financial stress.
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.