17283. Peoples Bank (Charleston, SC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 31, 1931
Location
Charleston, South Carolina (32.777, -79.931)

Metadata

Model
gpt-5-mini
Short Digest
99a9d6e34dec61fb

Response Measures

None

Description

Articles report that Peoples Bank (a 4-branch/state bank) closed Dec 31, 1931 and receivers took charge; liquidation and receivers' report follow. No explicit standalone run is described in the excerpts, so this is classified as a suspension that led to permanent closure/receivership.

Events (2)
1. December 31, 1931 Receivership
Newspaper Excerpt
When receivers took charge of the 4-branch bank ... liquidation ... Statement Collections and Disbursements Filed With Court; receivers' report filed today (Jan 1933).
Source
newspapers
2. December 31, 1931 Suspension
Cause
Government Action
Cause Details
Receivers took charge and the bank was placed in liquidation/receivership upon closing December 31, 1931.
Newspaper Excerpt
When bank closed December 31, 1931 ... When receivers took charge of the 4-branch bank
Source
newspapers

Newspaper Articles (2)
1. January 5, 1932 The Greenville News Greenville, SC
Article from The Greenville News, January 5, 1932

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Article Text

Exports For 1931 Show Decrease WASHINGTON Jan. 4.-Exports from the United States during first months of 1931 at compared with $3,511,143,000 the period 1930, the department of commerce announced today. Imports for the same period, it was totaled 000. against first Finished 48 per cent during the period, while largest imports was crude materials, 30.6 per Total exports in November last year amounted compared with $285,396,000 in the like month of 1930, while ports valued $149,719,000. against $203,593,000 in November 1930. divided into three zones, with W. Query the zone, M. the Greenville and C. Walker in the Charleston zone. Mr. Fuller was quoted in Greenville as no definite statement could be expected from the chain within 15 days. He few withdrawals reported that business "virtually normal. MONEY BY PLANE This morning an airplane from Charlotte brought $250,000 for South National which, added to the brought the plane on Saturday brings the total of currency moved into Charleston since the Peoples bank closed Mr. Walker said the audit probably would about 30 days this more of the 46 would be no the bank examiner, said, for another week of ten In response to Governor Black wood's suggestion all banks, South Carolina National bank today invoked the 60 day notice rule on savings accounts. IN GOOD CONDITION here yesterday that of Peoples State bank in this part good condition number to Saturday, including the branch, as in good However, from this list was unintentionally omitted the one at Seneca. said yesterday that branch was in but that it had to close with the others in the chain,

2. January 19, 1933 The Item Sumter, SC
Article from The Item, January 19, 1933

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Article Text

PEOPLES BANK RECEIVERS' REPORT Statement Collections and Disbursements Filed With Court Charleston, Jan hand liquidation the State Bank of South Carolina December totalled $956,094, of which was ered by the said report filed today District Court here. The government liens were for balance of $740,555 due on war loan deposit and $44,756 for postaccount The report listed bills payable when bank closed December 31, 1931, on which, said, has been colpaid, leaving balance Upon war loan deposit totalling $1,098,991, leaving the balance. When receivers took charge of the 4-branch bank, they ported, 'found aggregating Today the receivers have 8,289 notes agtotal of 3,635 been all during the Of the 8,289 notes remaining, notes, have been placed attorney's hands for To begin liquidation of the bank's Asso. the receivfound necessary "to reconand locate large number of the receivables caused by numerous assignments and pledges made in the bank's effort finance itself during the last two months op erated. "The receivers,' the report said, stock "have had the cooperation the New National Credit Association, the federal bank the treasury partment and other and the liquidation is satisfactorily conditions perried Under orders of the the claims filed more 449,472. These included general creditors totalling $8,965.ican One of the depositors and Corn creditors of the banks, the report said, have been filed for of the amount deposits time the bank closed were placed at Bank examiners few months after the bank closed estimated would pay depositors per cent of their deposits. After expiration on October 15 of the for filing deposiclaims, claims have been filed. These, report said the being held action of the court William Columbia, Robert Gage and McDill Chester They reported that for economy ficiency branches bank had been consolidated much possible The liquidation. they now continuing through the agencies: Allendale Charleston, Edgefield Florence Green Manning and Seneca Collection lia bility dollar capital of the bank hands state courts receiver. Joseph Columbia Nettles Columbia this week he had mately arranged for of approximately proceeding against the for the