First National Bank - Franklin, KY

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 1760
Charter Number: 1760
Start Date: November 18, 1930
Location: Franklin, Kentucky (36.719, -86.564)

Metadata

Model: gpt-5-mini
Short Digest: b29b8c79

Response Measures

None

Description

Article (The Bee, 1930-11-18) lists the First National Bank at Franklin, KY among several Kentucky institutions that 'were closed today' as a precaution after 'wild rumors' and the suspension/receiver situation at the National Bank of Kentucky in Louisville. No specific depositor run at the Franklin bank is described and the closures are presented as precautionary temporary suspensions tied to trouble at another local bank; reopening is likely but not explicitly documented in these excerpts, so I classify as suspension_reopening (temporary precautionary suspension). OCR errors in the snippet were corrected (e.g., truncated phrases).

Events (3)

1. January 3, 1871 Chartered

Source: historical_nic

2. July 5, 1879 Voluntary Liquidation

Source: historical_nic

3. November 18, 1930 Suspension

Cause: Local Banks
Cause Details: Precautionary suspension after rumors and the suspension/receivership of the National Bank of Kentucky in Louisville prompted withdrawals and closures at other Kentucky banks; Franklin bank closed as a precautionary measure.
Newspaper Excerpt: the First National bank at Ky ... closed today
Source: newspapers

Newspaper Articles (1)

1. November 18, 1930 The Bee Danville, VA

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Article Text

Child Slain Missionary, by Savages LAY PLANS TO This photo shows Rev. and Mrs. Arthur F. Tylee, of Memphis, Tenn., and their two-year-old daughter, Marian, all of whom were attacked by savage Indians in the Brazilian jungle, where the WHICH CLOSED Rev., Tylee was stationed Presbyterian missionary. Rev. Financial Leaders Optimistic As Action Is Taken to Re-Open Institutions LITTLE ROCK, Ark., Nov. -Optimism expressed in statements of Arkansas financial leaders laid plans today to re-open some 43 banks which have suspended temporarily or closed. The committee of the American Exchange Trust company here, largest and one of the oldest banks the state, which suspended for five days, was engaged with plans resume operations Closing of the American Exchange followed by suspension activities by the other banks, the aggregate deposits which more than $27,000,000. Banks. president of the American Exchange, and stockholder in of the 42 other banks scattered over the state. the boards of directors trying obtain pledges of loyalty from their and capital to assure freedom of danger from Expressions of confidence in the general stability of the state's finanstructure were added by Governor Parnell and Senator Robinson to those bankers. The Little Rock Clearing association by assured the public that local banks are in sound condition. Hysteria proceedings against Caldwell and pany, Tenn., bankers. until recently interested the American Exchange was attributed by directors latter the cause steady withdrawals which reached about BANKS CLOSE LOUISVILLE Nov Eight Kentucky financial institutions totaling more than were closed today The largest of these was the National Bank Kentucky Louisville, which under the control of receiver, Paul Keyes, the staff the comptroller the currency Its resources approximate Directors of the National bank of Kentucky said the suspension yesterday deemed necessary because of "wild rumors' concerning its condition. with its clostwo affiliated institutions, Louisville Trust company and Security bank. suspended operations Their directors said they were vent and that they were closed precautionary measure The three institutions are affiliated through the holding company. small negro banks in Louisville, the American Mutual bank the First Standard bank which cleared through the Louisville Trust company later The bank St. Helens, Louisville urb. also suspended as precautionbanks outside Louisville also closed when it learned the National bank of Kentucky They were McElwain pended. Megular and Trust Company Franklin, and the First National bank at Ky The Nationbank of Kentucky served as corfor both Officers of other leading Louisville banks statements last night declaring yesterday's deposits were greater than ported new accounts were opened during the day, and reiterated earlier statements that the institutions were Tylee, the little girl and nurse were massacred, and Mrs. Tylee, also missionary, was wounded.