17352. Merchants Bank (Columbia, SC)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
November 27, 1860
Location
Columbia, South Carolina (34.001, -81.035)

Metadata

Model
gpt-5-mini
Short Digest
e15a203373eb719d

Response Measures

None

Description

No article describes a depositor run. The 1924 article states the State Bank Examiner set March 25 as the date for liquidation of Merchants Bank's affairs by the National Loan and Exchange Bank and that depositors will be protected in full โ€” indicating an official suspension/liquidation and takeover rather than a run-driven failure. The 1860 article mentions 'Planters' and Merchants' Banks will tomorrow' (in context of suspensions among SC banks) but is brief and from a different era; the clear actionable event for this bank is the 1924 liquidation. Bank type not explicit from name. Dates corrected from newspaper text.

Events (3)

1. November 27, 1860 Other
Newspaper Excerpt
The State Bank of South Carolina, the Bank of South Carolina, and the Railroad Bank have suspended. The Planters' and Merchants' Banks will to morrow.
Source
newspapers
2. March 25, 1924 Receivership
Newspaper Excerpt
Depositors will be protected in full. March 25 is fixed by State Bank Examiner W. T. Bradley as date for liquidation Merchants bank affairs by National Loan and Exchange bank.
Source
newspapers
3. March 25, 1924 Suspension
Cause
Government Action
Cause Details
State Bank Examiner set date for liquidation and transfer of affairs to National Loan and Exchange Bank (official examiner action).
Newspaper Excerpt
March 25 is fixed by State Bank Examiner W. T. Bradley as date for liquidation Merchants bank affairs by National Loan and Exchange bank.
Source
newspapers

Newspaper Articles (2)

Article from Glasgow Weekly Times, December 6, 1860

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Article Text

Message of Gov. Gist, of South Carolina. COLUMBIA, S. C., Nov. 27.-Governor Gist, in his message, devoted many pages to local and State affairs. He says the view of secession becomes doubly impor. tant. We will have direct trade with Eurape, and advises the State to foster her enterprise for such purpeses by guarantees of five per cent. e Referring to the postal matter, he says he is authorized by the postmaster at Charleston to say, that, as soon as the State secedes, he will sever his connection with the federal government, and obey the call of the State. This, together with the resignation of the postmaster's generally, would enable the State to estab: lish her postal arrangements herself unembarrassed. He suggests, as a temporary expedient, to use Adams' Express. He further suggests that probably arrangements will be made between South Carolina and the federal authorities for a given time, until other States secede and a Southern con federacy is formed. If the Government insists on considering South Carolina in the Union after the ordinance of secession, the present postal arrangement must cease, and another, under State authority, must be substituted. The Governor advises the prohibition of the introduction of slaves from States not members of the Southern Confederacy, and particularly Border States. He says let them keep their slave property on our Border, and the only alternative left them is emancipation by their own act or the action of their confederates. He hopes, however, that all the Slave States will unite in a Southern Confederacy. He advises the passage of a most ample and stringent law against abolition incendiaries to supercede lynching and deter violation. The Governor, in referring to the action of South Carolina in sending Mr. Memminger to Virginia, and the failure to obtain the co-operation of the Southern Con: ference, except Mississippi and Alabama; says all hopes of a concentrated action of the South are lost. But one course is left South Carolina to act consistently with honor, interest and safety, and that looks neither to the right nor left, but to gd straight forward to the consummation of her purpose. It is too late now to receive prepositions for a conference, and South Carolina would be wanting in self-respect to entertain propositions looking to the continuance of the present Union. The Governor entertains no reasonable doubt that Georgia, Alabama, Mississippi Florida, Texas and Arkansas will immedi ately follow, and other Southern States wil eventually complete the galaxy. He says it is gratifying to know that if a resort to arms is necessary we have a tender of volunteers from all the Southern and some of the Northern States, who will flock promptly to her standard and share her fortunes. He concludes thus: I cannot permit my: self to believe that in madness or passion an attempt will be made by the present or next Administration to coerce South Carelina, after secession, by refusing to surrender the harbor defenses, OF intertering with the imports or exports, but if I am mistaken we must accept the issue and meet it as becomes men and freamen, who infinite: ly prefer annihilation to disgrace. Several cangidates for the Convention of South Carolina, over their signatures re= pudiate any free State joining the Southern Confederacy. The State Bank of South Carolina, the Bank of South Carolina, and the Railroad Bank have suspended. The Planters' and Merchants' Banks will to morrow.


Article from Atlanta Tri-Weekly Journal, March 22, 1924

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Article Text

COLUMBIA. - Rev. Wilbur H Riser, retired, dies of paralysis. COLUMBIA. - Governor McLeo sends requisition papers to Ken tucky, for return to this state o William Gates, acquitted in Louis ville last week of charge of mur dering Richard Heaton, but wante at Lake City, this state, for com plicity in two attacks alleged t have been made on Police Chief W R. Hall last Fall by Gates and Hea ton. GREENWOOD. - J. D. Hilley well known citizen, dies at age o 63. ROWESVILLE. - Theodore F Barton, graduate of Clemson, 1906 is honored with award of Chas. A Coffin foundation for achievemen in electrical development. He is on of forty employes of General Elec tric company so honored. MARION. - Carload of hay 1 shipped from Marion county, to North Carolina points, shipment ar ranged by O. E. Baker, demonstra tion agent. LAURENS. - Sheriff S. C. Rie returns from Pittsburg, Pa., with Willie Johnson, wanted for murde of "Lawyer" Nick McDowell, anoth er negro, killed in 1905. ROCK HILL. - Citizens vote $75,000 bonds for new school build ing and additional four mill ta: levy for maintenance of schools. YORK. - Frank Allison, negro charged with killing Jim Grier wealthy negro landowner, early in March, is released on $1,500 bond Allison claims self-defense. COLUMBIA.-Dr. F. D. Kendall of Columbia, is appointed by Presi dent Thomas F. Riggs, of For Wayne, Ind., of American Poultr association, as America's delegat to World's Poultry congress, to b held in Spain in June. GREENVILLE. - Victor Mona ghan mills cut operations to fou days week, due to stagnant cond: tion of cloth market. This effect 3,000 employes. GREENVILLE.-Injuries to groon did not prevent marriage in hos pital of Miss Elizabeth Smith, o Anderson, and D. W. Law, of Char lotte, who was severely burned i: explosion just before wedding. ANDERSON.-G. J. Bee, 62, kill self and wife, 60, leaving not ex pressing hope that wife and childre would be taken care of. Despond ency over recent loss of employmen is believed to be cause. CHARLESTON.-Sheriff J. N Poulnot is ordered by federal cour to surrender property of Charlesto Isle of Palms Traction company which he recently seized under a tachment proceedings, following fai ure of company to pay judgmer for something over $10,000. FLORENCE.-Frazier Warr, 3 in ill health, commits suicide wit shotgun. COLUMBIA. - Galli-Curci visi Columbia for week-end, in trip fro Greenville to Savannah, and whi here attends negro production leading theater, attracong unusu interest by her act. COLUMBIA.-B. L. Parkinso last year secretary, is elected pres dent state teachers' association at decision to employ full time exe utive secretary is reached, at clc ing session of annual conventio here. CAMDEN.-M. O. Hatfield, Camden, enters penitentiary in C lumbia, to serve life term for mu der of Ernest Stokes, high scho student. Wade Reynolds, also this county, begins service of te year sentence for manslaughter, ki ing Willie Harris, filling stati owner. COLUMBIA.-March 25 is 8 by State Bank Examiner W. T Bradley as date for liquidation Merchants bank affairs by Natio al Loan and Exchange bank. D positors will be protected in full. SPARTANBURG.-Jesse V. Cal well, farmer. and Mrs. Ida Goc shaw are arrested in connection with killing of Rev. M. F. Danie's. wl was run down by automobile Greenville few nights ago, and whi they admit having been in Gree ville night of tragedy, they der their car killed minister. ROCK HILL.-L. W. Johnso newly appointed farm demonstr tion agent for York county, arriv to take up duties. SPARTANBURG. - Mrs. J. :