National Bank - Somerset, KY

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 1748
Charter Number: 1748
Start Date: February 7, 1905
Location: Somerset, Kentucky (37.092, -84.604)

Metadata

Model: gpt-5-mini
Short Digest: 2390a293

Response Measures

None

Description

Article (1905-02-07) states the National Bank of Somerset, KY is 'defunct' and a receiver (C. L. Williams) is in place; a federal judgment held stockholders liable. The article does not explicitly describe a prior run or an explicit suspension, but the presence of a receiver and 'defunct' status indicates permanent closure. Suspension is inferred from closure/receivership though not explicitly stated in the text.

Events (4)

1. December 8, 1870 Chartered

Source: historical_nic

2. December 31, 1887 Voluntary Liquidation

Source: historical_nic

3. February 7, 1905 Other

Newspaper Excerpt: The court holds that each and every stockholder is liable to the amount equal to the stock held, and consequently must contribute toward making good the losses sustained by depositors of the bank
Source: newspapers

4. February 7, 1905 Receivership

Newspaper Excerpt: Federal Judge Cochran handed down a judgment in the case of C. L. Williams, receiver of the defunct National Bank of Somerset, Ky., against the stockholders.
Source: newspapers

Newspaper Articles (1)

1. February 7, 1905 The Bourbon News Paris, KY

Article from The Bourbon News, February 7, 1905

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Article Text

# Bank Stockholders Liable. Federal Judge Cochran handed down a judgment in the case of C. L. Williams, receiver of the defunct National Bank of Somerset, Ky., against the stockholders. The court holds that each and every stockholder is liable to the amount equal to the stock held, and consequently must contribute toward making good the losses sustained by depositors of the bank.