17173. Aiken County Loan & Savings Bank (Aiken, SC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
March 22, 1894
Location
Aiken, South Carolina (33.560, -81.720)

Metadata

Model
gpt-5-mini
Short Digest
10a48a0c932d10cf

Response Measures

None

Description

Bank was closed by injunction (United States court) March 22, 1894 and a receiver was appointed. Later reporting (June 1894) states the receiver said the bank will not resume business. No articles describe a depositor run. Legal actions and later prosecutions (perjury case 1897) relate to the failed bank.

Events (3)
1. March 22, 1894 Suspension
Cause
Government Action
Cause Details
Closed by injunction order obtained in suit of Godfrey Wheeler seeking appointment of a receiver (U.S. Court).
Newspaper Excerpt
This bank is temporarily closed in consequence of an injunction order obtained in the suit of Godfrey Wheeler vs the Aiken County Loan and Savings Bank, March 22. 1894. J. W. ASHURST. Cashier.
Source
newspapers
2. March 24, 1894 Receivership
Newspaper Excerpt
The Aiken County, Town and Savings bank was closed yesterday by an injunction granted to Godfrey Wheeler, who asks for a receivership.
Source
newspapers
3. June 15, 1894 Receivership
Newspaper Excerpt
George K. Chafee, intely appointed receiver for the Aiken County (S. C.) Loan and Savings Bank, states that the bank will not resume business. Depositors will get every dollar of their money, but the stockholders will only receive a part.
Source
newspapers

Newspaper Articles (6)
1. March 23, 1894 The Morning News Savannah, GA
Article from The Morning News, March 23, 1894

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Article Text

AN AIKEN BANK CLOSED. Application Made to the United States Court for a Receiver. Augusta, Ga., March 22.-Citizens of Aiken, S. C., were much surprised this morning at seeing the following notice on the door of the Aiken County Loan aad Savings Bank: This bank is temporarily closed in consequence of an injunction order obtained in the suit of Godfrey Wheeler vs the Aiken County Loan and Savings Bank, March 22. 1894. J. W. ASHURST. Cashier. The injunction referred to in the notice is an order from the United States court for the officials of the bank to show cause why a receiver should not be appointed. The answer in the case is returnable next Saturday. It is believed by the friends of the bank that its books and affairs will be found, on examination. to be all straight, in which case the bank's doors will be again opened for business by the first of next week. The stockholders and depositors have no fear that they will be losers, as they are certain Mr. Wheeler's demand for a receiver will not be sustained by the courts.

2. March 24, 1894 Asheville Daily Citizen Asheville, NC
Article from Asheville Daily Citizen, March 24, 1894

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Article Text

Bank Receiver. AIKEN, S. c., March 24.-The Aiken County, Town and Savings bank was closed yesterday bv an injunction granted to Godfrey Wheeler, who asks for a receivership.

3. March 28, 1894 Edgefield Advertiser Edgefield, SC
Article from Edgefield Advertiser, March 28, 1894

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Article Text

LOCAL BREVITIES. Next Sunday is April Fools day. Capt. Geo. B. Lake, we regret to state, is ill with pneumonia. Four or five candidates will make the race for County Supervisor in this county. Hold down the acreage in cotton to reasonable limits. Let this be the shibboleth for 1894. There will be a meeting of Hollingsworth Alliance next Saturday. See notice in this issue. The McCormick News has gone down and the McCormick Telegram has come up in its place. The Edgefield County Alliance will meet on Friday, April 13th. See Secretary Mays's notice herewtth. Instigated and seduced by the warm, spring-like weather sundry farmers in this community have already planted cotton. If a frost should come now would it clean up the fruit, including blackberries? Later-It came, saw, and conquered. This has been the most pleasant March we have ever experienced. There was little wind and many warm, sunry, delightful days. Cleveland, the Democrats, and sugarcrats in Congress are playing havoc with the Wilson tariff bill; and playing the d-1 generally. Dr. Gwaltney's school, the smaller children, celebrated Easter Eve by an egg hunt in the Academy grove, which they seemed to enjoy hugely. Presiding Elder Hodges will preach at Rehoboth, Leesville circuit, March 31 and April 1; at Ridge Spring, April 7 and 8; at Vaucluse, April 8. Rev. J. N. Booth, of Union, formerly pastor of the Edgefield village Raptist Church, has started a paper at his present home called "The Little Helper." Plenty of alligators are reported at Crofts on Old Tumblin'. They are raising 'em there to sell to the durn Yankees and to make 'em think they are in Florida. Aiken had a big sensation last week in the closing of the Aiken County Loan and Savings Bank by the United States Court and the appointment of a temporary receiver. The amount of money which will come to Edgefield county by reason of the gaining by the State of the railroad tax cases will amount to somewhere near seven thousand dollars. Dogwoods are in bloom, white oaks are full of leaves, hickory nut trees are budding, and a whip-poorwill has hollered-and yet there are people who predict we will have more cold weather, frosts and blizzards. Easter Sunday was SO dark and gloomy that Edgefield's fair dames and dcmoisselles were not able or willing to don their Easter attire, but next Sunday will reveal it all unless that day should also be inclement. To County Commissioner Joe Banks is due it is said, the big license tax on lightning rod pedlers in this county. Joe says if you take the spangles off the top of the lightning rod you've got the whole thing. Last Thursday, March 22nd, was the warmest day that has ever OCcurred in that month in Edgefleld within the memory of the oldest inhabitants. The thermometer registered on that day. as its maximum, 84 degrees. Easter Sunday was entirely unfavorable to the display of Easter suits and hats. Yet the rain that disappointed 80 many feminine hearts was very refreshing to vegetation. The flowers and grass and fruit trees seemed to drink it in with an exuberance of joy, so to speak. The examination of applicants to teach, which will take place on April 20th, will be more thorough and searching than ever before. In accordance with a recent resolution of the State board, Algebra and English literature will be included in the examination, that is for first grade certificates. Eine L.

4. June 15, 1894 The Weekly Union Times Union, SC
Article from The Weekly Union Times, June 15, 1894

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PITHY NEWS ITEMS. Kelly's Industrials are on the point of collapse near Cairo, Ill. They are kept out of the city by armed force. The loss at Clemson, S. C., College by the fire amounts to $40,000 over the and above insurance, not counting loss of the State's exhibit-one of the finest in the country. The estimates of loss by flood in Oregon a.e placed as big all $10,000,000, half of which is sustained by railroads. The Willamette river is rising now. Allen Whittington, of Wilkes county,N.C., is in his 94th year. He has been a 'squire since 1830, and participated in the meeting of the 'squires at Wilkesboro. Out of about 1,100 listed polls in Jones county, N. C., last year, the sheriff in his settlement with the-count ty commissioner returned only two insolvent. This, the Jones county folks claim, beats the State. Mrs. Senator Vance has had the remains of the late Senator removed from the family plat to the sight on the highest poiut in Riverside cemetery, Asheville, N. C., which sight Mrs. Vance purchased some time ago, and over which the monument is to be erected. George K. Chafee, intely appointed receiver for the Aiken County (S. C.) Loan and Savings Bank. states that the bank will not resume business Depositors will get every dollar of their money, but the stockholders will only receive a part. The shops of the South Carolina & Georgia Railroad lately turned out a new locomotive and tender which has attracted much attention. The entire work was performed at the shops, and the locomotive is of large and powerful design. The Winnsboro (S. C.) Savings, Loan & Investment Co. has been incorporated by B. J. Emerson, J. D. Davis, C.G. Garrett and others to do A general banking and loan business. The capital stock is $9,000. The Charlotte Supply Co., Charlotte, N. C., are about to start a new manufacturing establishment, another connecting link to the textile industrial business of the South. The new enterprise will produce leather belting of all dimensions, loom strappings and niem company will put out of their hands be good an article as there can as found in the East, or elsewhere. Give them a trial. The railroad commission at Raleigh, N. C., received notice from the officers of the North Carolina Railroad that they were unable to comply with the law and return the property of the road for taxation, the cause of this failure being the serving upon them of a notice by some of the private stockholders. The injunction forbids them to list the property for taxation, the stockholders who have obtained it claiming that exemption is granted in the company's charter. The matter comes up before Judge Dick, at chambers, at Greensboro, July 1. This will bring up the entire question and naturally there will be considerable public interest, as all the railroadssave this one pays taxes.

5. October 13, 1895 The Morning News Savannah, GA
Article from The Morning News, October 13, 1895

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conveniences; electric chandeliers, radi- ators, marble washstands, etc.: terms moderate; light and heating free. Apply to Merchants National Bank. LARGE BUILDING 50 FEET FRONT, 110 feet deep, now fitted with stalls; box stalls and mule pens, as stables; will change to warehouse or other business; West Broad, near foot of South Broad. Apply J. F. Guilmartin & Co, FOR RENT, OFFICES NO. 114 BRY- an street, 1st floor; rent reasonable; pos- session given Oct. 1. Apply to Walthour & Rivers. FOR SALE. FOR SALE, CHEAP, ONE SEWING machine, parlor organ, and new hat rack. 57 Gwinnett. FOR SALE, A LARGE IRON SAFE; Herring's make, at A. Deutsch's pawn- broker, next door to Solomon's & Co., drug store. FOR SALE, LIGHT PNEUMATIC Rambler bicycle, for $35; perfect order; worth sixty dollars; must sell. H. S. Mer- ritt, 29½ Charlton. 182 MCDONOUGH, NATIONAL CASH register, good as new; for sale cheap. Call early. FOR SALE, HANDSOME BAY MARE, young, sound, safe for lady to drive; is also good saddler. E. B. Hunting & Co., 60 Bay street. FOR SALE, ONE OF THE CHEAPEST pieces of property to be had in the city of Savannah; good location. Call at office of LaRoche, 111 Bay street. WOOD. SEND YOUR ORDERS FOR wood to J. M. Smith, where H. A. Ernst will be pleased to fill them at reasonable prices. Yard 70 West Boundary street, Office West Broad, near C. R. R. depot. Ring telephone 567, old 93. NICE HOUSE AND ONE ACRE LOT, fronting depot; large garden, barn, stables and other improvements; all comparative- ly new. Mrs. J. J. Rimes, Oliver, Ga. FOR SALE, DIAMOND BOTTOM sail boat; $15. F. J. Asken, Isle of Hope. GENTLEMAN'S SADDLE; PERFECT- ly new; having been used only a few times. Inquire 110½ Taylor. ONE LOT OF FINE, NEW CUT HAY, in field, at a great bargain. For informa- tion call upon S. L. Lazaron, Attorney, 107 Bay street. YACHT WINNIE DAVIS, FOR SALE cheap; two sets sails and all tools. Ap- ply E. B. Sutton, 152 Broughton. FOR SALE, A GOOD SQUARE PIANO; in first class condition; walnut finish; $35.00. 160 Liberty street. FOR SALE, YOUNG COW AND CALF. Apply W. H. Sauls, Montgomery and Best streets. FOR SALE, SWEET MILK, BUTTER milk, cream clabber, curds and fresh Jer- sey butter daily, at Savannah Dairy Com- pany, 74 Whitaker street, corner Liberty street lane; everything neat and clean; try us. TWENTY-NINE ACRES AT SOUTH- over Junction, for sale; can be bought cheap. J. E. Fulton & Son. OAK AND PINE WOOD. STICK OR sawed, one dollar per load. Almar's. Tele- phone 121. AUCTION SALE, FURNITURE, Tuesday 11, 89 Liberty next Quint Bakery. FOR SALE, AN UPRIGHT PIANO, IN good condition; cheap. Address Joe, New's office. FOR SALE, GAS STOVE, USED BUT a short time; cheap. 210 President street. FOR SALE, A STAIRCASE, COM- plete; as good as new. Apply 115½ Price street. HANDSOME CHINA TO BE SOLD AT 89 Liberty near Abercorn, Tuesday, 11 o'clock. FOR SALE, NICHOLL STREET. near East Broad; $900; rents now for $8.00 per month; small wooden house. H. J. Read, 95 Bay street. WOOD, 150 CORDS DRY PINE WOOD, ⅝ of a mile from Dale Dixon's mill, Liber- ty street, at $1.50 per cord. J. F. Guilmar- tin & Co.'s stables. BROUGHTON STREET, NEAR ABER- corn, superb lot and dwelling (two-story), 90x90 feet; reasonable and easy terms to right parties. Hammond J. Read, 95 Bay street. THE GREAT AUCTION PRICE SALE will commence on Monday; our entire stock will be sold without reserve, at auc- tion prices. Dinner sets, $6.75. Don't fail to call at M. Nathan's, 180½ Congress street. SALE OF FURNITURE AT 89 LIBER- ty Tuesday 11, next Quint's Bakery, Aber- corn and Liberty; cars pass door. TANKS, STACKS AND BOILERS; first-class work; very low prices. Lom- bard Iron Works, Augusta, Ga.; Atlas en- gines; Korting injectors. TAYLOR STREET, NEAR LINCOLN, two-story on basement brick residence; price $4,000; easy terms. Hammond J. Read, 95 Bay street. FOR SALE, ONE HERRING'S CHAM- pion Bank Safe, with 48 deposit boxes; im- proved Sargent & Greenleaf time lock. A magnificent safe in perfect order and having been in use very little. Property of the Aiken County Loan and Savings Bank. For prices and other particulars apply to the undersigned, G. K. Chafee, Receiver, Aiken, S. C. HENRY STREET, NEAR ABERCORN, two-story frame dwelling, 8 rooms; price reasonable. Hammond J. Read, 95 Bay street. FOR SALE, WELL FURNISHED barber shop; old stand; new furniture; reason for selling other business to at- tend. Apply corner Barnard and Bay lane. BALED STRAW AND HAY; STRAW, ton, $7; bale, 50c; hay, 13.50; bale, 65c, at stables of J. F. Guilmartin & Co. FOR SALE, NICHOLL STREET, NEAR East Broad, small wooden house, rent- ing for $8.00 per month; price a bargain. Hammond J. Read, 95 Bay street. CYPRESS PILING AND SHINGLES- Black cypress piling, 35 feet to 50 feet long; also cypress shingles at remarkably low prices; carload lots shingles a spec- lalty; boats can load at the mills. Vale Royal Manufacturing Company.

6. November 4, 1897 The County Record Kingstree, SC
Article from The County Record, November 4, 1897

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Article Text

A perjury CASE. The Jury in the Achurst Case, at Aiken, Couldn't Agree. Last week, at Aiken, in the Court of General Sessions, the case of the State vs. J. W. Achurst was called. This case isa prosecution for perjury arising out of the complication of the defunct Aiken County Loan and Savings Bank. Ever since this bank suspended business in 1894 its affairs have been the subject of litigation before both State and United States courts. The trial which came before this session was against the ex-cashier for an alleged oath in 1893 as to the bank's condition. The case was fought with great earnest by opposing counsel, Mr. M. B. Woodward representing the State and Henderson Bros. the defence. The trial of the case consumed two days. After a deliberation of four hours the jury announced their inability to agree, whereupon a mistrial was ordered.