17182. Bank of Anderson (Anderson, SC)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
July 6, 1926
Location
Anderson, South Carolina (34.503, -82.650)

Metadata

Model
gpt-5-mini
Short Digest
046d45fcf2fe865e

Response Measures

None

Description

Articles describe the Bank of Anderson having closed and its directors ordered to liquidate affairs (court denied a receivership petition). This indicates a suspension with permanent closure/liquidation rather than reopening. Article of Dec 1927 shows the bank defaulted on state deposits and pledged bonds are being sold to satisfy obligations.

Events (3)

1. July 6, 1926 Other
Newspaper Excerpt
Judge Mauldin refused plea for bank receiver; petition dismissed; directors to liquidate; petition of certain depositors asking that the assets be sequestered was addressed in court decision.
Source
newspapers
2. July 6, 1926 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank had closed and was insolvent/defaulted on deposits, prompting directors to liquidate under examiner supervision.
Newspaper Excerpt
Judge Mauldin handed down his decision denying the petition for receivership... The petition of the board of directors to provide for the liquidation of the affairs of the bank is granted, and the directors named as 'liquidating trustee.'
Source
newspapers
3. December 20, 1927 Other
Newspaper Excerpt
State treasurer notice: sale at public auction of bonds pledged with the state treasurer by the Bank of Anderson... said bank having defaulted in the payment of deposits.
Source
newspapers

Newspaper Articles (2)

Article from The Gaffney Ledger, July 6, 1926

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Article Text

JUDGE REFUSES PLEA FOR BANK RECEIVER Mauldin Says Directors Can Liquidate Defunct Anderson Bank. Anderson, July affairs of the Bank of Anderson will be liquidated by the directors, subject to the supervision and control of the bank examiner, W. W. Bradley. Judge Mauldin handed down his cision denying the petition for ceivership, which was heard Greenville last week. This was in the tion of Will Watson, Mrs. Mauldin and Mrs. Elise Paget. This was made plain in three orders of Judge Mauldin as follows: "The complaint in the matter of receivership dismissed and the petition of the plaintiffs for the pointment of receiver denied. The temporary injunction restrain ing the bank directors from proceeding further with steps looking ward liquidation or the sale of the banks assets dissolved. petition of the board of rectors provide for the liquidation of the affairs of the bank is granted, and the directors named as 'liquidating trustee. court granted petition of certain depositors on behalf of depositors of the bank, asking that the of the bank sessed for the amount of their hold ings. Judge Mauldin took occasion commend the board of directors for the manner in which the affairs of the institution have been managed since the closing of the bank. The petition of the depositors that a.call made the for their statutory liabilities is in accord with the plan of the directors. The court provided that the depositors be in case unpaid by bring suit against those refusing pay.


Article from The State, December 2, 1927

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Article Text

Notice is hereby given that will sell at public auction to the highest bidder for cash, in the office of the state treasurer, in the State Capitol, Columbia, S. C., at twelve (12) o'elock noon of Tuesday. the 20th day of December, 1927, eighteen (18) $500 six and twenty drainage district bonds of the county of Anderson due 1942, bearing interest at the rate of six (6%) per cent. Interest payable January and July Said bonds having been pledged with the state treasurer of South Carolina by the Bank of Anderson. Anderson, S. C., to secure state deposits but said bank having defaulted in the payment of deposits. H. SCARBOROUGH, Treasurer State of South Carolina.