Orangeburg National Bank (Orangeburg, SC)

View Charter #10674 on SPMC View balance sheet

Episode Information

Episode UID
1067401507
Episode Type
Run Only
Bank Type
national
Bank ID
106740 national
Charter Number
10674
Start Date
July 25, 1925
Location
Orangeburg, South Carolina (33.492, -80.856)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
68952d366d92f1ca

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions

Receivership Details

Depositor recovery rate
28.2%
Date receivership started
1931-04-09
OCC cause of failure
Losses
Share of assets assessed as good
7.5%
Share of assets assessed as doubtful
79.9%
Share of assets assessed as worthless
12.6%

Events (4)
1. January 2, 1915 Chartered
Source
historical_nic
2. July 25, 1925 Run
Cause
Rumor Or Misinformation
Cause Details
Anonymous two-line typewritten letters mailed through the postoffice falsely charged the bank was broke.
Random Run
Yes
Random Run Snippet
Anonymous letters charged the bank was broke; statements were false
Measures
Bank prepared to pay all current depositors; arranged cash with Richmond and local banks; other local banks pledged aid; $1,000 reward offered for arrest of sender.
Newspaper Excerpt
What promised to be a run on the Orangeburg National bank on Friday... caused by large number of anonymous letters... stating that the Orangeburg National bank was broke.
Source
newspapers
3. January 8, 1929 Voluntary Liquidation
Source
historical_nic
4. April 9, 1931 Receivership
Source
historical_nic

Newspaper Articles (6)
1. July 26, 1925 The Sunday Record Columbia, SC
Article from The Sunday Record, July 26, 1925

Click image to open full size in new tab

Article Text

ORANGEBURG BANK RUN FADES AWAY Mailer of Anonymous Letter About Bank's Condition to be Prosecuted (Special The Record) ORANGEBURG, S. C., July 25.What promised to be a run on the Orangeburg National bank on Friday, which was caused by large number of anonymous letters sent out to various people in this city and the surrounding country stating that the Orangeburg National bank was broke. faded into oblivion Saturday The bank was prepared to pay all current depositors in full. Quite a number of customers came into the bank but did not draw out their deposits upon finding that the bank was in the best possible financial condition: that they could get their money if they wanted it. The three other banks of this city, the Edisto National bank. the Planters bank and Southern Bank and Trust company have pledged their aid to the Orangeburg National bank to the fullest extent, should such aid be needed. The federal and state authorities arrived this morning and are now working to ascertain who mailed the anonymous letters which caused the run on Friday. The bank authorities state that the guilty party will be prosecuted to the fullest extent in both the state and federal courts.

2. July 29, 1925 The Times Montgomery, AL
Article from The Times, July 29, 1925

Click image to open full size in new tab

Article Text

Reward Is Offered For Circulating False Statement ORANGEBURG. S. C., July 29 (Special) reward of $1,000 has been offered by officials of the Orankeburg National Bank for information leading to the arrest and conviction of the party who sent out false statements flecting on the bank and its offiafThe statements were mailed through the postoffice and were received last week-end They bore no signature and consisted of only two lines in which it was charged that the bank was broke. The statements were written with typewriter. They caused a mild run on the bank, but the bank was prepared to meet all demands made upon it Officers of the bank announced that arrangements have been made with Richmond and local banks to have ample cash to meet any emergency which may arise as result of these reports. The bank is the oldest financial institution in this city.

3. July 29, 1925 The Troy Messenger Troy, AL
Article from The Troy Messenger, July 29, 1925

Click image to open full size in new tab

Article Text

$1,000 REWARD IS OFFERED FOR PARTY WHO ISSUED FALSE STATEMENT (By International New Service.) ORANGEBURG S. C., July 27.A reward of $1000 has been offered by officials of the Orangeburg National Bank for information leading to the arrest and conviction of the party who sent out false state- ments reflecting on the bank and its officers. The statements, were mailed thru the postoffice and were received last weekend. They bore no signature and consisted of only two lines in which it was charged that the bank was broke. The statements were written with a typewriter. They caused mild run on the bank, but the bank was prepared to meet all demands made upon it. Officers of the bank announced that arrangements have been made with Richmond and local banks to have ample cash to meet any emergency which may arise as a result of these reports. The bank is the oldest financial institution in this city.

4. July 30, 1925 Morristown Gazette Mail Morristown, TN
Article from Morristown Gazette Mail, July 30, 1925

Click image to open full size in new tab

Article Text

False Statements Cause Ruin of Bank By International News Service Orangeburg, S. C., July 30. reward of $1,000 has been offered by officials of the Orangeburg Na tional Bank for information leading to the arrest and conviction of the party who sent out false statements reflecting on the bank and its officers. The statements were mailed through the post office and were received last week-end. They bore no signature and consisted of only two lines in which it was charged that the bank was broke. The statements were written with a typewriter. They caused a mild run on the bank, but the bank was prepared to meet all demands made upon it. Officers of the bank announced that arrangements have been made with Richmond and local banks to have ample cash to meet any emergency which may arise as a result of these reports. The bank is the oldest financial institution in this city,

5. August 4, 1925 The Times and Democrat Orangeburg, SC
Article from The Times and Democrat, August 4, 1925

Click image to open full size in new tab

Article Text

HAD GOOD SENSE (The State) It speaks well for the good sense of the people of Orangeburg and also for the high standing of the Orangeburg National Bank that the scoundrelly attempt made to start a run on that institution by reflection on its credit in hundred annonymous letters sent through the mails was wholly abortive. While substantial reward has been offered for the detection and conviction of the miscreant, more menacing to him is the fact that having violated the postal in-using the mails for this purpose, the national government' bloodhounds are unleased. He may remain free but he will live in dread There is entirely too much loose talk about the condition of banks. To stand upon the street corner and question the integrity of a bank or to use the telephone for similar purpose, is a serious matter; and it is a matter in which the whole community, indeed, the whole state in which that bank is located, has concern. A bank is a community institution: the community is jealous of its good name: as it is, of course, concerned in its proper It is inconceivable how any person having regard for the interests of Orangeburg should have wished to undermine the credit of an institution in which the credit of the community is to large degree in terwoven. The act is evidence of despicably mean spirit and motive, and if retribution falls upon the head of the culprit there need be no sympathy.

6. August 18, 1931 The Times and Democrat Orangeburg, SC
Article from The Times and Democrat, August 18, 1931

Click image to open full size in new tab

Article Text

Notice to Trespasses. Notice is hereby given that the land in Union Township, Orangeburg County, do forbid hunting, fishing trespass on their lands been posted to Any trespassers will be prosecuted according to law. G CLECKLEY E. R. WALTER TREASURY Office of the Comptroller of the Currency, Washington, D. C. May 21st, 1931 Notice is hereby given to all persons who may claims against The Orangeburg National Bank, South Carolina, that the same must be presented to Beverley Herbert, Receiver, at Columbia, Carolina. the legal proof thereof within three months from this date or they may be disallowed. W. POLE Comptroller of the Currency New Gatti. Italian going into the Congo seek gorilla, which natives have reported to be larger than any specimens