Union Bank - Cornishville, KY

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 10, 1927
Location: Cornishville, Kentucky (37.800, -84.994)

Metadata

Model: gpt-5-mini
Short Digest: 79a2f346

Response Measures

None

Description

Article (Lexington Herald-Leader, 1927-03-10) reports Union Bank of Cornishville has gone into liquidation due to uncollectable land notes from wartime lending; State Banking Department appointed an officer to settle affairs. No run is mentioned.

Events (3)

1. March 10, 1927 Other

Newspaper Excerpt: Bush W. Allin, president of the Mercer National Bank here, has been appointed by the State Banking Department to settle up the affairs of the Union Bank
Source: newspapers

2. March 10, 1927 Receivership

Newspaper Excerpt: Bush W. Allin... has been appointed by the State Banking Department to settle up the affairs of the Union Bank
Source: newspapers

3. March 10, 1927 Suspension

Cause: Voluntary Liquidation
Cause Details: Went into liquidation owing mainly to a surplus of land notes taken during the war that became uncollectable because of depreciation in land values and farming generally.
Newspaper Excerpt: BANK TO BE LIQUIDATED Union Bank, small institution at Cornishville, this county, has gone into liquidation, owing mainly to surplus of land notes...it is believed that in time all indebtedness will be paid.
Source: newspapers

Newspaper Articles (1)

1. March 10, 1927 Lexington Herald-Leader Lexington, KY

Article from Lexington Herald-Leader, March 10, 1927

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Article Text

KENTUCKY GEORGE DERRINGTON DEAD Derrington, 75, former city and county assessor, died suddenly at his home here. He was stricken as he sat in chair reading magazine. FOUND DEAD ON ROAD HENDERSON- D. Pierce, 67, farmer, was found dead on the side of road five miles from Henderson by passing motorists. A coroner's inquest resulted in verdict that death was caused by heart failure. JURY DISMISSED IN TRIAL PINEVILLE- jury which has heard evidence in the trial of man named as Dan Smith, charged with the killing of Dr. R. L. Lattimore last Christmas day, reported to the court its inability to agree on verdict and was dismissed by Circuit Judge Forrester. presiding. Following anmistrial Smith was released on bond of $3,000. Smith was the third of four men indicted in connection with the killing. Two are serving life sentences for their alleged parts in the crime. VETERAN OPERATOR DIES MADISONVIL Lee Jackson, 57, veteran Atkinson Junction telegraph for the Louisville and Nashville Railroad, died of a complication of diseases, following lingering illness. He had been in the service of the road 22 years. His widow and three children survive. HARD TO SECURE JURY HARTFORD- developed that so many citizens of Ohio county have expressed an opinion on the guilt or innocence of Hunter, accused of making false entries while he was cashier of the former of Hartford, that much difficulty being perienced securing jury to try the case. The second panel of 150 men was exhausted and 90 additional names were drawn by Judge George S. Wilson BANK TO BE LIQUIDATED Union Bank. small institution at Cornishville, this county, has gone into liquidation, owing mainly to surplus of land notes, many of them taken by the bank during the war, which have been uncollectable because of depreciation in land values and farming generally It is believed that in time all indebtedness will be paid. J. E. Simms was president and Ed Scott, cashier. Bush W. Allin, president of the Mercer National Bank here, has been appointed by the State Banking Department to settle up the affairs of the Union Bank NEW COUNCIL FORMED FRANKFORT geographic council, for the purpose of considering, revising and establishing place and stream in Kentucky been formulated by Governor Fields. Dr. R. Jillson, State geologist, was named chairman of the council with H. McChesney of Frankfort, and Otto Rothert, of Louisville, the other members. The council was formed upon the suggestion of Frank Bond, chairman United States Geographic Board, and will work in conjunction with the national board. INSURANCE RATE CASES FRANKFORT-The fire insurance rate cases, in which the Kentucky Actuarial Bureau is seeking to premiums 12½ per cent. have been placed on the equity docket of United States District Court, which will convene here with Judge A. M. Cochran presiding The litigation was transforred from the Franklin circuit court to the Federal Court motion of the Kentucky Actuarial Bureau and member fire insurance companies. The State, thru William H. Shanks, is seeking to the increase from going into effect.