7409. Owensboro Savings Bank (Owensboro, KY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
June 1, 1908*
Location
Owensboro, Kentucky (37.774, -87.113)

Metadata

Model
gpt-5-mini
Short Digest
1ecf9b74

Response Measures

None

Description

Articles describe the Parrish brothers 'assigning' (June 1908) with liabilities exceeding assets and later receivership and worthless paper reported in December 1908. No contemporaneous description of a depositor run is given; this appears to be a bank insolvency leading to receivership/closure.

Events (3)

1. June 1, 1908* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Owners (Parrish brothers) 'assigned'; liabilities largely in excess of assets indicating insolvency and mismanagement; worthless bills and notes later reported.
Newspaper Excerpt
The six Parrish brothers, who were principal owners and founders of the Owensboro Savings Bank, have assigned, making no reservation. Their liabilities are largely in excess of assets.
Source
newspapers
2. December 11, 1908 Receivership
Newspaper Excerpt
In testifying in the Parrish case Receiver Pedley said that over a half million of the bills and notes of the Owensboro Savings bank were absolutely worthless.
Source
newspapers
3. December 21, 1908 Other
Newspaper Excerpt
The disaster, which last April affected western Kentucky and Southern Indiana and Cincinnati depositors, was the largest failure in the history of Kentucky. ... Parrish, who with his two brothers, was in charge of the affairs of the Owensboro Savings Bank's affairs, received deposits of $130 a few days before the bank failed.
Source
newspapers

Newspaper Articles (3)

Article from The Adair County News, June 10, 1908

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Article Text

Excessive heat killed 10 people in a single day in Pittsburg. Mrs. Clara Wesson killed herself at Houston, Texas, because her husband would not kiss her good night. A band of 30 night riders shotup the town of Hathaway, in Boone county, and scraped the plant beds of several farmers in the vicenity. Nineteen indictments charging night riding were returned by the Shelby county grand jury. Many of the men accused live in Franklin county, near the Shelby line. W. W. Spence, a millionaire, of Springfleld, Mass., on his way to Kentucky to complete a deal for a large tract of coal land, died suddenly on a train at Olive Hill. The six Parrish brothers, who were principal owners and founders of the Owensboro Savings Bank, have assigned, making no reservation. Their liabilities are largely in excess of assets. W. L. Krone, county attorney of Lyon county, was assaulted and severely beaten at Eddyville by Harvey Satterfield, who is under bond to await the action of the grand jury on the charge. of night riding. Gov. Wilson pardoned Mrs. Mary Lou Hollowell, who was under indictment i n Caldwell county on the charge of scraping a plant bed. Mrs. Hollowell and her husband were driven from the State by night riders. Under orders from Gov. Hanly and Attorney General, Bingham, the gambling houses at French Lick were raided, but the news had leaked out and the paraphernalia had been removed when the officers arirved. A special from Pikeville says the five men charged with murderous assault on two Hungarian families on Blackberry creek, in Pike county, several days ago, were captured, tried and each sentenced to five years in the penitentiary. J. W. Harmon, a policeman, and Charles Woodburn, were instantly killed and J. R. Wooten, chief of police, was badly wounded in a shooting affray at Central City. The three men quarreled among themselves and emptied their revolvers at each other. A petition was filed in the United States court at Nashville on behalf of the Interstate Commerce Commission to compel the Nashville, Chattanooga and St. Louis railway to provide equal accomodations for Negroes as that given white passengers. Walker Duncan and Riley Harrod, well-known Shelby county farmers, were indicted on the charge of killing Newton R. Hazelett, whose body was found on the road near Jacksonville. Duncan admitted the killing and took all responsibility for the act.


Article from The Paducah Evening Sun, December 11, 1908

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Article Text

Worthless Paper Hawesville, Ky., Dec. 11. (Special) In testifying in the Parrish case Receiver Pedley said that over a half million of the bills and notes of the Owensboro Savings bank were absolutely worthless.


Article from The Roswell Daily Record, December 21, 1908

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Article Text

& Trust Co., was insolvent, today reported it could not agree and was discharged. The alleged liabilities were about one million dollars and resolved in the receivership of the bank. The disaster, which last April affected western Kentucky and Southern Indiana and Cincinnati depositors, was the largest failure in the history of Kentucky. The specific charge was that of H. T. Martin, who asserted that Parrish, who with his two brothers, was in charge of the affairs of the Owensboro Savings Bank's affairs, received deposits of $130 a few days before the bank failed.