17295. Planters & Mechanics Bank of South Carolina (Charleston, SC)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
July 16, 1869
Location
Charleston, South Carolina (32.777, -79.931)

Metadata

Model
gpt-5-mini
Short Digest
97cc87105b901f28

Response Measures

None

Description

Articles from 1869 indicate the Planters' and Mechanics' Bank was placed under a court-related proceeding (decree of Judge Penter, July 1869) with stockholders called to meet to consider action under an Act enabling banks to liquidate or reorganize. Later (Nov 1869) the bank's board issues notices about preparing to resume business and calling elections for directors under the Act of March 12, 1869. There is no explicit contemporaneous description of a depositor run in these articles. Therefore this episode is best classified as a suspension followed by reopening (suspension_reopening). I corrected the bank name punctuation/spacing to match period usage (Planters' and Mechanics' Bank of South Carolina).

Events (3)
1. July 16, 1869 Suspension
Cause
Government Action
Cause Details
Court decree (Judge Penter) and a report leading stockholders to consider applying to the Comptroller-General under an Act concerning liquidation; bank effectively under legal/administrative suspension of normal business operations in July 1869.
Newspaper Excerpt
President and Directors of the Planters' and Mechanics' Bank, in obedience to the decree ... made by Honor Judge PENTER, on the 16th July instant, do call the stockholders to attend a meeting ... to consider the report which is to be laid before them; to determine whether the Board of Directors shall apply to the Comptroller-General ... under the Act to enable the Banks to place business or to liquidate.
Source
newspapers
2. August 12, 1869 Other
Newspaper Excerpt
meeting at noon, choose to upon the report which is to be laid ... whether upon the Board the said of Directors ... to apply to the Comptroller-General ... under the Act to enable the Banks ... to liquidate. Stockholders ... to attend a meeting at 12 upon the THURSDAY, the 12th day of August ... to consider and take such action as they may choose upon the report which is to be laid before them . . . . (notice of stockholders meeting).
Source
newspapers
3. November 24, 1869 Reopening
Newspaper Excerpt
THE PLANTERS' AND MECHANICS' BANK OF SOUTH CAROLINA. - RESOLUTION OF THE BOARD. In preparing to resume business, under the Act of 12th March, 1869, it is expedient to fill the vacancies in our Board; therefore ordered, that the Cashier issue notice accordingly. NOTICE. That on WEDNESDAY, the 24th instant, an election for FOUR DIRECTORS will be held by the Stockholders of the Bank ... (Nov 18, 1869).
Source
newspapers

Newspaper Articles (3)
1. August 21, 1838 Richmond Enquirer Richmond, VA
Article from Richmond Enquirer, August 21, 1838

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Article Text

RESUMPTION Every thing continues to work with our Banks, as "smooth as a shingle." The officers assure us, that every thing has nearly returned to its ancient channels -confidence is entirely restored-and no specie is called for. No one seems to value coin more than paper. The Banks will practise more discretion as to discounts. than they were wont to do before the resumption-and all will well. The Norfolk Beacon of Friday last states. that payments be "One great result of the resumption of specie by the Banks of Virginia has been to render exchange almost nominal The following were the rates at New York on Saturday: Bicknell's Philadelphia Reporter of Tuesday, says: "The Philade phia money market has been quite inac. tive for the last week but the change is decidedly re. strictive. This is the natural effect of the general re. sumption which took place yesterday, and which we doubt not will be carried into full and successful effect. The banks were never stronger than at this moment, and what is equally important, public confidence ie greater than it has been at any time since the suspension. Mo. commends about nine percent. rate pos. be for some far sibly ney kept up weeks. The This banks will thus have conducted themselves with great propriety. Their discount line has been reduced as little as possible. The prospect continues to brighten." The Baltimore Patriot of Saturday says, "The same trifling demand for "hard money" which was noticed in this city on the 13th, appears to have existed in other parts of the State At Hageratown and Comberland, as we learn. there was no greatercal for specie on that day, than would occur on ordinary days-being entirely limited to occasional applications for "change. The Car. of this morning, in reference to the subject understand A rolltonian ways:-"We that Bank there of is Westminster scarcely demand for made at the counter of the spe The people seem to find that it is the interest of all our banks, in to us a paper to cie. uphold and their efforts better give indeed for macurrency equal to silver gold," ny purposes. The N. Y. Herald of Friday says, "The business at the Stock Exchange has taken a start to day, and a dispo sition to buy stocks prevailed prices closed generally at a small advance: the amount was much larger than for a few days past. Some sales of 6 percent Treasury notes were made at 14 premium, and subsequently $1,000 were sold at 1.4 per centum premium. "The work of resumption goes on well. Every mail brings us news of some banks having returned to specie payments, in conformity to the general agreement.We learn to-day that the Governor of New Jersey having taken example from the success of Governor Ritner's has also issued one, requiring all the banks in New to resume specie 1st day proclamation, Jersey payments by of the law." the of September next, under the penalty The Boston Patriot of Tuesday last says: "The RESO. ciated Banks of this city have given formal notice that hereafter they will pay specie for all their bills and de. posites whenever demanded. For some months past our banks have accomodated their customers with specie when called for, and now they have proclaimed a readi. ness to do it without stint. Specie payment therefore is in full operation, and we have no reason to apprehend farther difficulty on this score." Five Banks, viz: The Bank of the State of South Ca rolina-the Bank of South Carolina--the Union Bank of South Carolina-the Planters' and Mechanics' Bank of S. Carolina and the Bank of Charleston, met in Com. mittee on the 2d inst. and adopted an appropriate preamble. and the following Resolutions: "Therefore, Resolved, That the several Banks here re. presented, do agree to resume specie payments on the 1st September ensuing. "Resolved, That a copy of the foregoing preamble and resolution be forwarded to the several Banks represented in the Convention held in this city in May last, and that they be respectfully invited to unite in the measure above adopted."

2. July 23, 1869 The Charleston Daily News Charleston, SC
Article from The Charleston Daily News, July 23, 1869

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Article Text

Special Notices. CHARLESION COUNTY- IN EQUITY. DESEL LAWBENCE W O'HEAR AND CHARLEST M. ADM'X. HIS WIFE. vs. ANNA F. O'HEAR, AND ANNA H. O'HEAR, EX'X ET AL,- NOTICE AND CREDITORS - In pursuance of an order CARTO to me directemos the Hon. R. B. to PENTER, ircuit Judge, I hereby give notice and all creditors of the late JAMES O'HEAR to present the FIRST prove their elaime before me, on or before DAY OF OCTOBER NEXT. M. L. WILKINS, was $ July 29 Special Referee, No. 54 Broad-street 1e2w NOTIOE IS HEREBY GIVEN Certifi- HAT olication for the renewal of the following Carolina appl: of Stock in the People'a Bank of South from cates will be made at the expiration of sixty days No. 793, this which Certificates have been lost: November date, 18, 1855, for One Hundred Shares; in favor No of 2508. July 19, 1860, for Forty Shares, DQ J. B. Whitridge. OSMA BAILEY, Jnly 23 1amSmos* Executor ATT MILK OF VIOLE! Come, ladies, listen while tell You of wondrous Milk, Twill make your hearts to swell, Your money elopé. It leaves the skin BO white and fair, All roughney will remove. Of violets prepared with greatest care, Irritation it:will-soothe Then, ladies, to the druggists speed, This wond'rous milk secure. Which whitens, softens, as you need, And made of violets pure. July 23 Sold by Druggists and Fancy Goods Dealers. TO GEORGE LITTLE $5. & CO. FOR fine Silk Warp Alpaca Backs for 6 July 22 DANIEL RAVENEL, PRESIDENT, PLANTERS KT OTHERS, DIRECT vs. THE CLAIM AND MECHANICS' BANK AND OTHERS, PLANTERS' AND THEREON- EQUITY, THE CAROLINA, ANTS AND MECS ANIOS BANK 1869.-The OF SOUTH President and CHARLESTON. this JULY Bank, in obedience to the decree OAR- in Director of cause, made by Honor Judge hereby call the above the 16th July instant, do at the PENTER, on stockholders to attend a meeting at 12 upon the THURSDAY, the 12th day of August, action Bank, on consider and take such be laid o'slock they may noon, choose to upon the report which is to fail to Stockholders even are alea notified that then if they devolve The organiz meeting, the duty to determine will whether upon the Board the said of Directors Bink or to apply to benefit the Gover- of the nor to win'l and up Comptroller- General 12th for March. the 1869, entiLegislature of the this State to reAct of the Act to enable the Banks liquidation. of new tied "An business or toplace W. them E. HASKELL in Cashier. FORM OF PROXY. 1869. CHARLESTON, 8. C., for me and the appoint Shares I hereby vote OR the I hold Carolina in at in my name. 10 Mechanics Bank of South be held on the the Planters' meeting and of the Stockholders. and at all to subsequentmeetings tion hereof. 12th day of the of August Stockholders 1869, of said Bank, until revoeatuthe8 July 22 IS w TAXESI ES of Colleton NOTICE County hereby be ready given that to receive the Treasurer the STATE AND COUNTY TAXES will at the following places 27. Run, July 26 and 19. Adaz's George's station, August 5 and 18 and 6. 7. Green Pond Station, south August Carolina Ratiroad, Railroad, August in Reeves' Bidgeville Station, Station, South Carolina Summer gust guet 4 ille Station, South Carolina Railread, Au Auand 3. the 5th to the 24th of 81 July. and gast 16. Walterboro", Yonges' Island, from 13t. Paul,) July 28, 29, WalJacksonboro', Treasurer July will be 30. found at and his after office the in above amounts named terboro' The dates to receive until August Taxes Cent. 25. on will After be that charged date of an on Oc- all the dition of of Twenty Taxes unpaid per before Treasurer the 17th will day proceed by collect, distress with seven tober, and after that date or otherwise. All real and-e-h and per- If on mills County Taxes. to sonal property the dollar are charged for state, and three mills for S. C., July Walterboro', 1063 6 July 21 office County I Treasurer, JAMES W. Treasurer. GRACE, PERSONS w ESTATE TAMES MOULTHIE, NOTICE.-ALL M. against D, his will estate indebted to the and those having attested claims to Mesers. & EUTLEDGE make payment, present them property No. 26 Broad-street. June 11 June 11. YOUNG. H. GOURDIN, Solicitors, Qualified 221amo2 Executor. TO ESCAPE HMER PERILS HOW with the health in will not do through the unbealTHEM-It SU Vigor Dosas to writte only abio that at every vibot weather. and it is by physical vigor and repelled. The are evaporated in pump and the pore, tal tby elemente influences can into baffled a self-actin perspiration. derived Intense from heat converts a man out of him is is great moisture that is life within him. sources of physical the well-springs pumped There that these bear, without need, therefore, be in a condition extraordinary to drain. strength or should inconvenience, condition, the the individual danger in such a -spirited apperatus If hey languid and the digestive becomes main thing is to keep if the stomach, the pur- the The working time for his duty the roughly. eye in of the system, brain, and the do theirs. liver. vesor good the bowels, nursured, the does will be likely nervous to power being duly it is manitest bat a this tem, In and view wholesome of these vegetable facts, 18 tonic especially like admirable required HOSTEITER at of all ER is the most this reason enteebling correctives getson. and invigolants, the and system. for The omponente propor radioiously doe not over-stimulate tonic and simulating processor's tions of aperient. signated that the vigoration are HO and excitement purindition created 20 in imulants. the circula- how and no u. due All numedicated nervous system. it Hon or the brain. the pulse and the y. and when were employed off the phyatost to remove returns in an Their over pure, exhi exote aratina effect and is tempora mental depression aggravated they

3. November 18, 1869 The Charleston Daily News Charleston, SC
Article from The Charleston Daily News, November 18, 1869

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Article Text

CITADEL SQUARE BAPTIST CHURCH.-Services suitable to a day of public thanksgiving will be held at this Church TO-DAY at half-past 10 o'clock. Prayer Meeting at NIGHT in the Lecture Room at 7 o'clock. The public are invited to attend. novis ROOT FIRST PRESBYTERIAN CHURCH There will be service in this Church THIS MORNING. at half-past 10 o'clock. nov18 1 JAY ZION PRESBYTERIAN CHURCH, GLEBE STREET.-In consequence of the indispo sition of the Pastor, there will be no Service in this Church TO-DAY. nov18 green THE PLANTERS' AND MECHANICS' BANK OF SOUTH CAROLINA.-RESOLUTION OF THE BOARD.-"In preparing to resume business, under the Act of 12th March, 1869, it is expedient to fill the vacancies in our Board; therefore ordered, that the Cashier issue notice accordingly." NOTICE. That on WEDNESDAY, the 24th instant, an election for FOUR DIRECTORS will be held by the Stockholders of the Bank, between the hours of 11 and 1 o'clock. The Directors NO elected to serve until the next annual election. W. E. HASKELL, Enov18 that113 Cashier. 325 NOTICE.-THE STEAMER PILOT BOY will haul off for painting for a few days. nov16 3 J. D. AIKEN & CO., Agents. JEY NOTICE-THE STEAMER CITY POINT will not go to Beaufort as formerly advertised, but the steamer ST. HELENA will take the place of the steamer PILOT BOY for Beaufort and Edisto. See advertisement H. L. P. McCORMICK. nov16 3 J. D. AIKEN & CO., Agents. BEST H. KLATTE & CO. WILL CARRY on their Wholesale GROCERY AND LIQUOR BUS. INESS at No. 201 Fast Bay, northwest corner of Cumberland street, where they will be happy to seetheir customers and friends. nov15 JET NOTICE.-J. N. M. WOHLTMANN for the present occupies the store of Messrs. FARRAR BRO., corner East Bay and Cumberland streets, and will be pleased to see his friends. nov13 NOTICE.-ALL PERSONS INDEBTED to the assigned Estate of Mr. GEO. H. GRUBER are hereby informed that their accounts have been placed into the hands of Messrs. SIMONS & SIEGLING, Attorneys, (office, Broad street,) for collection, and if settlements are made before the first December next, no costs will be incurred. II. GERDTS & CO., nov13 1mo Agents for Creditors. NOTICE.-NATIONAL FREEDMAN'S SAVINGS AND TRUST COMPANY, CHARLESTON BBANCH, No. 74 BROAD STREET. Money deposited on or before November 15th will draw interest from November 1st. oct28 17 NATHAN RITTER, Cashier. BOO TO CONSUMPTIVES.-THE ADVERTISER, having been restored to health in a few weeks, by a very simple remedy, after having suffered several years with a severe lung affect tion, and that dreadful disease, consumption, is anxious to make known to his fellow-suiferera the means of cure. To all who desire it, he will send a copy of the prescription used (free of charge,) with the directions for preparing and using the same, which they will find a SURE CURE FOR CONSUMPTION, ASTHMA, BRONCHITIS, &c. The object of the advertiser in sending the Prescription is to benefit the afflicted, and spread information which he conceives to be invaluable; and he hopes every suiterer will try his remedy, as it will cost them nothing, and may prove a blessing. Parties wishing the prescription, will please address REV. EDWARD A. WILSON, Williamsburg, Kings County, New York. nov9 3mos WORDS OF CHEER -ON THE Errors of Youth and the Follies of Age, in relation to Marriage and Social Evils, with a helping hand for the erring and unfortunate. Sent in sealed letter envelopes, free of charge. Address HOWARD ASSOCIATION, Box P., Philadelphia, Pa. sept25 3r