17365. Peoples Bank (Darlington, SC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 20, 1932
Location
Darlington, South Carolina (34.300, -79.876)

Metadata

Model
gpt-5-mini
Short Digest
46b47901b883e337

Response Measures

None

Description

Articles (July 1932) discuss a court decision involving the Peoples Bank of Darlington and reference a receiver (G. B. Brasington) and closed banks. No article describes a depositor run. The bank is in receivership (i.e., closed) — fits suspension followed by closure/receivership. I did not infer any run because none is mentioned.

Events (2)
1. July 20, 1932 Other
Newspaper Excerpt
Opinion ... is regarded as highly important in view of the number of estates now tied up in closed banks. The court ruled a bank receiver is not required to pay an estate ahead of creditors and depositors where there is no breach of trust.
Source
newspapers
2. July 20, 1932 Receivership
Newspaper Excerpt
Donald E. Mitchie, et al., petitioners, against the Peoples Bank of Darlington and G. B. Brasington, as receiver, appellants.
Source
newspapers

Newspaper Articles (2)
1. July 20, 1932 The Index-Journal Greenwood, SC
Article from The Index-Journal, July 20, 1932

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Article Text

Decision Reversed In Important Case (/P)-Estate funds received in trust by bank and mingled with other bank funds. does not constttute breach of trust in event of the bank's failure and give the estate a preferential claim over other the court ruled in imsupreme portant majority opinion today. The opinion, the ruling by the court on phases of 1930 statute, is regarded as highly important in view of the number of estates now tied up in closed banks. Written by Associate Justice M. L. Bonham, was concurred Blease Stabler. Associate Justice carter Although law a personal ministrator, mingle the with his own sue to the estate, must make good from his own funds." The court ruled a bank receiver is not required to pay an estate ahead of creditors and depositors where there is no breach of trust. The court reversed the decision of Judge E. C. Dennis in a case from Darlington county. Donald E. Mitchie, et al., peti-respondent, against the Peoples Bank of Darlington and G. B. Brasington, as receiver, appellants.

2. July 23, 1932 The Gaffney Ledger Gaffney, SC
Article from The Gaffney Ledger, July 23, 1932

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Article Text

Decision Reversed In Important Case Columbia, July funds received trust by and mingled with other bank funds, not breach trust event of the bank's failure give the estate preferential claim other positors, supreme court ruled an important majority opinion today The opinion, the first ruling the court on phases of 1930 statute, is regarded highimportant in view of the num estates now tied up closed banks. Written by Associate Justice the opinion concurred Chief Justice Stabler Associate Justice Car ter dissented. Although pointing out the law personal ministrator, guardian trustee mingle the funds of the estate with his own funds, and loss ensue estate, the fiduciary must make good from funds. court ruled bank receiver not required an estate ahead of creditors depositors where there is no breach trust. The court the deci sion of Judge in case Darlington county, Donald E. Mitchie, et al., the Peoples Bank Darlington and receiver, appellants.