7514. Jennings Banking & Trust Company (Jennings, LA)

Bank Information

Episode Type
Run → Suspension → Unsure
Bank Type
trust company
Start Date
January 18, 1902
Location
Jennings, Louisiana (30.222, -92.657)

Metadata

Model
gpt-5-mini
Short Digest
18cf611a

Response Measures

Full suspension, Books examined

Other: Bank issued public statement of solvency; promised to pay depositors when collections realized.

Description

Articles (Jan 18–25, 1902) report an immediate run followed by the bank's temporary suspension and notification of the state examiner. The bank issued a statement saying assets exceed liabilities and that depositors would be paid and the bank would reopen in a few days, but no later article confirming reopening is provided, so final outcome is uncertain.

Events (2)
1. January 18, 1902 Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals over several days depleted cash on hand; bank lacked sufficient immediate funds leading to run
Measures
Closed doors; notified state bank examiner; public statement promising payment in full and planned reopening within days
Newspaper Excerpt
it became evident that a run would be made on the bank and the doors were closed
Source
newspapers
2. January 18, 1902 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Insufficient cash on hand after withdrawals (run) forced the bank to suspend and notify the state examiner; hoped to carry over until large receipts arrived
Newspaper Excerpt
temporary suspension of the Jennings Banking and Trust Company ... opened Saturday morning with but a small amount of cash on hand. This was very soon called for, and the suspension came as a natural result.
Source
newspapers

Newspaper Articles (4)
1. January 18, 1902 The Jennings Daily Record Jennings, LA
Article from The Jennings Daily Record, January 18, 1902

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Article Text

TEMPORARILY SUSPENDED Jenuings Banking & Trust Company Closes Its Doors This Morning. The Jennings Banking & Trust Company opened for business this morning. but in a very short time it became evident that a run would be made on the bank and the doors were closed, and the state bank examiner was notified to come and investigate the affairs of the bank. It was stated to a reporter of the RECORD this afternoon by a high official of the bank that all depositors would be paid in full, and that the bank would be open for business again in a few days. The following statement is given out by the bank cashier this evening: TO THE PUBLIC. The Jennings Banking & Trusts Co's. Resurces are $47,000 more than the liabilities, and as soon as collections can be made and holdings realized on, all depositors, as it |now appears, will be paid in full. W. M. TAYLOR, Cashier.

2. January 19, 1902 The Houston Daily Post Houston, TX
Article from The Houston Daily Post, January 19, 1902

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Article Text

Jennings Bank Forestalled a Run. Jennings, La., January 18.-The Jennings Banking and Trust company opened -

3. January 24, 1902 Tensas Gazette Saint Joseph, LA
Article from Tensas Gazette, January 24, 1902

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Article Text

BANKING COMPANY SUSPENDS. Jennings.-The usual smooth trend of financial matters in Jennings was slightly broken Saturday by the temporary suspension of the Jennings Banking and Trust Company. The bank has been feeling the effects of a run for several days past, and opened Saturday morning with but a small amount of cash on hand. This was very soon called for, and the suspension came as a natural result. President Sweet immediately notified the state bank examiner of the suspension. The suspension was not altogether unexpected, though those that were aware of the position of the bank was in were in hopes that It could be carried over for ten days or so until some heavy payments past due could be made. The Northern Canal Company, owned by the Morses, has been disposed of to the gentlemen inerested in the Louisiana Rice Mill of this place. These gentlemen are largely interested in the Star Mill and Mill at Crowley and in several canals of Acadia parish, The purchase price is given as $30,000. The purchasers of the Northern are also negotiating for the old Jennings Irrigation Company

4. January 25, 1902 The True Democrat Saint Francisville, Bayou Sara, LA
Article from The True Democrat, January 25, 1902

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Article Text

BANKING COMPANY SUSPENDS. Jeunings.-The usual smooth trend of financial matters in Jennings was slightly broken Saturday by the temporary suspension of the Jennings Banking and Trust Company. The bank has been feeling the effects of a run for several days past, and opened Saturday morning with but a small amount of cash on hand. This was very soon called for, and the suspension came as a natural result. President Sweet immediately notified the state bank examiner of the suspension. The suspension was not altogether unexpected, though those that were aware of the position of the bank was in were in hopes that it could be carried over for ten days or so until some heavy payments past due could be made. The Northern Canal Company, owned by the Morses, has been disposed of to the gentlemen inerested in the Louisiana Rice Mill of this place. These gentlemen are largely interested in the Star Mill and Mill at Crowley and in several canals of Acadia parish. The purchase price is given as $30,000. The purchasers of the Northern are also negotiating for the old Jennings Irrigation Company