Edward Allen Lindsey (Nashville, TN)

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ca.1930 photo of Edward A. Lindsey

Edward Allen Lindsey (August 27, 1871 – August 17, 1950)

Biography

  • Name: Edward Allen Lindsey
  • Birth: August 27, 1871 Nashville, TN
  • Death: August 17, 1950 Nashville, TN
  • Spouse: Alice Miller (Hall) Lindsey (1876-1937) (Married 1896)

Edward Allen Lindsey was born August 27, 1871, in Nashville Tennessee. His father, Alonzo, was in the wholesale grocery business at the time. Edward attended local Nashville public schools and was hired in 1887, when he was 16 years old, to be a runner for the First National Bank of Nashville, charter 150. Edward progressed in employment with First National, becoming clerk, then bookkeeper, and then to assistant cashier in the late 1890's. He left First National in 1899 and was elected cashier of the Merchants Bank of Nashville. On April 20, 1903, Merchants Bank became the Merchants National Bank of Nashville, charter 6729, with Edward as the bank's cashier. On August 18, 1904, he was elected President after the former President, James McLaughlin, passed away. Edward was 33 years old at the time.

Edward's presidency of Merchants National was short lived, as a merger with the First National Bank was announced on May 15, 1906, and he became Vice-President of First National. In 1907, Edward was elected President of the Tennessee Bankers Association, and in 1910 as President of the Nashville Board of Trade. Frank Dibrell resigned as President of The Hermitage National Bank of Nashville, charter 9532, on December 9, 1910. The board of the bank met and accepted Dibrell's resignation and then elected Edward as the bank's next President. Edward lasted about a month as President. Benjamin Franklin Moore, who had gotten rich from the sale of tobacco in Nashville, began accumulating stock on Hermitage National between 1905 and 1910. He purchased the final controlling share from W. J. Cude, former Vice-President of the bank in late 1910, and during the annual meeting of the stockholders of the bank on January 10, 1911, elected himself as the bank's new president. Thus, Edward served only about a month as president, until he was forced out by a new owner.

On February 17, 1913, the Tennessee Bank & Trust Company opened at 306 3rd Avenue North in Nashville. Edward helped to organize this bank and was elected its' first President. Soon, on September 24, 1914, a national charter was approved and the Tennessee National Bank was issued charter 10622. This bank did not issue national bank notes, and was one of two Nashville national banks that did not. Once again, very soon after, due to the declining health of President B. F. Moore of the Hermitage National Bank, the Tennessee National Bank merged with the Hermitage National Bank on May 22, 1915 to form the Tennessee-Hermitage National Bank, continuing on with charter 9532. Edward was elected president of this new merger, and he stayed president until the bank panic of late 1930.

In November of 1930, the Nashville brokerage house of Caldwell and Company failed. This company was intertwined with dozens of state and national banks in Arkansas, Kentucky, Tennessee and North Carolina. It had ownership in many, and completely owned The Bank of Tennessee in Nashville, where state money was kept. The Bank of Tennessee failed, and this began bank runs in several southern states. One by one, banks closed to try to quell the runs, and many either failed to reopen, or were forced into mergers. Tennessee-Hermitage experienced a bank run beginning November 12, and by the 14th, it could not survive without a larger bank taking over. On November 15, 1930, Tennessee-Hermitage was merged into the Commerce Union Bank, and the banking career of Edward Allen Lindsey came to an end.

By 1935, Edward was president of the American Tri-State Paper Box Company, and in 1939 he purchased the McEwan Laundry, which he owned until his death. Edward helped organize the Nashville Baseball Club, and was significantly involved with The Hermitage, Andrew Jackson's home. He was also instrumental in bringing the first commercial airline into Nashville. Edward died at the age of 79 in St. Thomas Hospital in Nashville on August 17, 1950 of bladder cancer, and is buried in Mt. Olivet Cemetery in Nashville.

Bank Officer Summary

During his banking career, E. A. Lindsey was involved with the following bank(s):


Series 1902 Red Seal $10 bank note with pen signatures of E.A. Lindsey, Cashier and James McLaughlin, President.


References

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