17404. Bank of Georgetown (Georgetown, SC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 18, 1869
Location
Georgetown, South Carolina (33.372, -79.281)

Metadata

Model
gpt-5-mini
Short Digest
ecf82d2b2e576bd7

Response Measures

None

Description

Circuit Court ordered the president and directors to surrender assets to a court-appointed receiver (R. H./R. E. Fraser) on 1869-11-18; subsequent articles (1870) show receiver selling bank real estate, furniture and realized assets—indicating the bank was put into receivership and its assets liquidated, i.e., permanently closed. No mention of a depositor run in the articles.

Events (4)

1. November 18, 1869 Receivership
Newspaper Excerpt
the duly appointed receiver... R. E. FRASER, Receiver. The said assets to be delivered to him, to be collected in the most expeditious manner.
Source
newspapers
2. November 18, 1869 Suspension
Cause
Government Action
Cause Details
Court-ordered surrender of assets and appointment of a receiver by the U.S. Circuit Court (injunction suit J. and T. Greene vs. Bank of Georgetown); creditors restrained from suits.
Newspaper Excerpt
That the president and directors of the Bank of Georgetown do account fully for their administration of the assets thereof, and surrender the same... to R. H. Fraser, the duly appointed receiver
Source
newspapers
3. December 5, 1870 Other
Newspaper Excerpt
all the following ASSETS BELONGING TO THE BANK OF GEORGETOWN will be sold at Public Outcry... R. E. FRASER, Receiver.
Source
newspapers
4. December 19, 1870 Other
Newspaper Excerpt
will be sold, in the Town of Georgetown, S. C., on MONDAY, the 19th day of December, 1870... The REAL ESTATE belonging to the Bank of Georgetown... with the Banking House and other buildings thereon; and also... the FURNITURE, &c., of said Bank.
Source
newspapers

Newspaper Articles (11)

Article from The Charleston Daily News, November 18, 1869

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THE UNITED STATES COURT-HON. GEORON S. BRYAN, PRESIDING-In Nankruptcy.-The Judge approved of the following appointments of assignees: W. C. Shumake, assignee of J. W. Norwood, of Greenville, and J. R. Fowler, assignee of W. A. Check, of Laurens. The following petitions for final discharge were referred to Registrar Carpenter, viz: Ex parte W. B. Lee, J. M. Wooddell, H. S. Crabb and J. H. Lee, of Marlboro. The petitions of J.R. Cochran, of Anderson, and Garrell & Shell, of Laurens, for final discharge, were referred to Registrar Jaeger. Certificates of final discharge were issued, under the scal of the court, to the following persons, viz: W. G. Allen, of Beaufort; John Wiley, of Darlington; W. H. Burgess, W. M. Reese, or maby Blanding, 3. Chandler, J. Meyers and D. A. Foxworth, of Sumter. Ex parte D. J. Winn, in re Joshua Meyers. Petition for sales of choses in action. Order of sale granted. In the Circuit Court.-J. and T. Greene VS. The Bank of Georgetown and Manning & Deforrest. Bill for Injunction to restrain the creditors of the bank, Messrs. Manning & Deforrest, from pursuing a suit at law for the amount of their claims. Messrs. Rutledge & Young for complainants, and Wm. Whaley, Esq., for Manning & Deforrest. A greater portion of the morning was consumed in hearing argument, after the conclusion of which the Judge ordered substantially as follows: That the president and directors of the Bank of Georgetown do account fully for their administration of the assets thereof, and surrender the same, together with any title deeds of real estate, property, real, personal and mixed, all evidences for the payment of money, including bills, notes, bonds, or other choscs in action, to R. H. Fraser, the duly appointed receiver, on giving bonds with personal security double the amount of the present valuq of the assets, the same to be approved by the Clerk of the Court, The said assets to be delivered to him, to be collected in the most expeditious manner. It was further ordered that the Clerk of the Court act as special referee to notify all claimants to prove demands, all creditors being restrained from instituting any suits against the bank.


Article from The Charleston Daily News, November 18, 1869

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THE UNITED STATES COURT-HON. GEORGE S. BRYAN, PRESIDING-In Bankruploy.-The Judge approved of the following appointments of assignees: W.C. Shumake, assignee of J. W. Nor. wood, of Greenville, and J. R. Fowler, assignee of W. A. Cheek, of Laurens. The following petitions for final discharge were referred to Registrar Carpenter, viz: Ex parte W. B. Lee, J. M. Wooddell, H. S. Crabb and J. H. Lee, of Marlboro. The petitions of J.R. Cochran, of Anderson, and Garrell & Shell, of Laurens, for final discharge, were referred to Registrar Jaeger. Certificates of final discharge were issued, under the seal of the court, to the following persons, viz: W. G. Allen, of Beaufort; John Wiley, of Darlington; W. H. Burgess, W. M. Reese, Ormsby Blanding, J. Chandler, J. Meyers and D. A. Foxworth, of Sumter. Ex parte D. J. Winn, in re Joshua Meyers. Petition for sales of choses in action. Order of sale granted. In the Circuit Court.-J. and T. Greene vs. The Bank of Georgetown and Manning & Deforrest. Bill for injunction to restrain the creditors of the bank, Messrs. Manning & Deforrest, from pursuing a suit at law for the amount of their claims. Messrs. Rutledge & Young for complainants, and A Wm. Whaley, Esq., for Manning & Deforrest. greater portion of the morning was consumed in hearing argument, after the conclusion of which the Judge ordered substantially as follows: That the president and directors of the Bank of Georgetown do account fully for their administration of the assets thereof, and surrender the same, together with any title deeds of real estate, property, real, personal and mixed, all evidences for the payment of money, including bills, notes, bonds, or other choses in action, to R. E. Fraser, the duly appointed receiver, on giving bonds with personal security double the amount of the present value of the assets, the same to be approved by the Clerk of the Court. The said assets to be dolivered to him, to be collected in the most expeditious manner. It was further ordered that the Clerk of the Court act as special referee to notify all claimants to prove demands, all creditors being restrained from instituting any suits against the bank.


Article from The Charleston Daily News, November 16, 1870

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Aution Sales future Mans. By W. Y. LEITCH & R. S. BRUNS, Auctioneers. STATES OF AMERICACarolina District-In Circuit Court UNITED -T. & J. Green vs. Bank of Georgetown, et al. In pursuance of order made in above case, on the 1st of July. A. D. 1870, by the Circuit Court aforesaid, all the following ASSETS BELONGING TO THE BANK OF GEORGETOWN will be sold at. Public Outery, in the City of Charleston, at the Office of Messrs. W. Y. Leitch & R. S. Bruns, No. 35 Broad street, on MONDAY, the 5th December next, commencing at 11 o'clock. Terms cash. R. E. FRASER, Receiver.


Article from The Charleston Daily News, November 30, 1870

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Auction Sales - future Dans. By W. Y. LEITCH & R. S. BRUNS, Auctioneers. STATES OF AMERICACarolina District-In Circuit Court UNITED A -T. & J. Green vs. Bank of Georgetown, et al. In pursuance of order made in above case, on the 1st of July, A. D. 1870, by the Circuit Court aforesaid, all the following ASSETS BELONGING TO THE BANK OF GEORGETOWN will be sold at Public Outcry, in the City of Charleston, at the Office of Measrs. W. Y. Leitch & R. S. Bruns, No. 35 Broad street, on MONDAY, the 5th December next, commencing at 11 o'clock. Terms cash. R. E. FRASER, Receiver.


Article from The Charleston Daily News, December 8, 1870

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STATES OF AMERICACarolina District-In Circuit Court 1. & J. Green vs. Bank of Georgetown, et al. In pursuance of order made in above case, on the 1st of July. A. D. 1870, by the Circuit Court aforesaid, will be sold, in the Town of Georgetown, S. c., on MONDAY, the 19th day of December, 1870, at 12 M., in front of the Courthouse, The REAL ESTATE belonging to the Bank of Georgetown, known and distinguished in the Plan of the Town as Lots Nos. 89 and 90, measuring 151 by 109 feet, with the Banking House and other buildings thereon; and also, at the same time and place, the FURNITURE, &c., or said Bank, consisting of : 2 MAHOGANY DESKS 1 Iron Safe 2 Coin Scales 2 Letter Presses. Terms-For the Furniture, &c., cash; for the Banking House and premises attached, one-third cash, and the balance on a credit of one, two and three years, secured by the bond or bonds of the purchaser, with legal interest from the day of sale, payable annually, and a mortgage of the premises: the premises to be Insured and kept insured by the purchaser or purchasers for an amount equal to the amount of the boad or bonds, and the policy of insurance assigned. Purchaser to pay for title and stamps. R. E. FRASER, Receiver. nov26-ltnths6


Article from The Charleston Daily News, December 10, 1870

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STATES OF AMERICACarolina District-In Circuit Court -T. & J. Green vs. Bank of Georgetown. et ab: In pursuance of order made in above case, on the 1st ofJuly. A. D. 1870, by the Circuit Court aforesaid, will be sold. in the Town of Georgetown, S. U., on MONDAY, the 19th day of December. 1870, at 12 M., in front of the Courthouse, The REAL ESTATE belonging to the Bank of Georgetown, known and distinguished in the Plan of the Town as Lots Nos. 89 and 90. measuring 151 by 109 feet, with the Banking House and other buildings thereon; and also, at the same time and place, the FURNITURE, &c., of said Bank, consisting of : 2 MAHOGANY DESKS 1 Iron Safe 2 Coin Seales 2 Letter Presses. Terms-For the Furniture, &c., cash; for the Banking House and premises attached. one-third cash, and the balance on a credit of one, two and three years, secured by the bond or bonds of the purchaser, with legal interest from the day of sale. payable annually, and a mortgage of the premises; the premises to be insured and kept insured by the purchaser or purchasers for an amount equal to the amount or the bond or bonds, and the policy of insurance assigned. Purchaser to pay for title and stamps. R. E. FRASER, Receiver. nov26-tuths6


Article from The Charleston Daily News, December 13, 1870

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STATES OF AMERICACarolina District-In Circuit Court UNITED A -T. & J. Green vs. Bank of Georgetown. et al. In pursuance of order made in above case, on the 1st of July. A. D. 1870, by the Circuit Court aforesaid, will be sold. In the Town of Georgetown, S. O., ou MONDAY, the 19th day of December, 1870, at 12 M., in front of the Courthouse, The REAL ESTATE belonging to the Bank of Georgetown, known and distinguished in the Plan of the Town as Lots Nos. 89 and 90, measuring 151 by 109 feet, with the Banking House and other buildings thereon; and also, ar the same time and place, the FURNITURE, &c., of said Bank, consisting of 2 MAHOGANY DESKS 1 Iron Safe 2 Coin Scales 2 Letter Presses. Terms-For the Furniture, &c., cash; for the Banking House and premises attached. one-third cash, and the balance on a credit of one, two and three years, secured by the bond or bonds of the purchaser, with legal interest from the day of sale. payable annually, and a mortgage of the premises; the premises to be insured and kept. insured by the purchaser or purchasers for an amount equal to the amount of the bond or bonds, and the policy of insurance assigned. Purchaser to pay for title and stamps. R. E. FRASER, Receiver. nov26-tuths6


Article from The Charleston Daily News, December 15, 1870

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Carolina District-In Circuit Court UNITED A STATES OF AMERICA-T. & J. Green vs. Bank of Georgetown, et al. In pursuance of order made in above case, on the 1st of July. A. D. 1870. by the Circuit Court aforesaid, will be sold. in the Town of Georgetown, S. C., on MONDAY, the 19th day of December, 1870, at 12 M., In front of the Courthouse, The REAL ESTATE belonging to the Bank of Georgetown, known and distinguished in the Plan of the Town as Lots Nos. 89 and 90, measuring 151 by 109 feet, with the Banking House and other buildings thereon; and also, at the same time and place, the FURNITURE, &c., of said Bank, consisting of : 2 MAHOGANY DESKS 1 Irou Safe 2 Coin Scales 2 Letter Presses. Terms-For the Furniture, &c., cash; for the Banking House and premises attached, one-third cash, and the balance on a credit of one, two and three years, secured by the bond or bonds of the purchaser, with legal interest from the day or sale. payable annually, and a mortgage of the premises; the premi-ea to be insured and kept insured by the purchaser or purchasers for an amount equal to the amount of the bond or bonds, and the policy of insurance assigned. Purchaser to pay for title and stamps. R. E. FRASER, Receiver. nov26-4tutha6


Article from The Charleston Daily News, December 17, 1870

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PARTE WM. M. ROUSE, TRUSTEE -IN THE COMMON PLEAS. Ex By virtue of an order of Court in this case, to me directed, I will offer for sale at public) auction, on TUESDAY, the 3d day of January, 1871, still o'clock A. M., at the Old Postoffice, Broad street, Charleston, The fellowing named REAL ESTATE: All that LOT OF LAND, with the BUILDINGS thereon, situate on the north side of Vernon street, in the City of Charleston, known as No.16, measuring and containing in front on Vernon street forty (40) feet; more or less, by one hundred and ten (110) feet in depth; bounded north by Lands of south Vernon street, east:1 by Lands of Seignious, and west by Lands of Venning. ALSO, All that LOT OF LAND, with BUILDINGS thereon, situate in. Hampton court, in the City of Charleston, known by the No. 14, measuring and containing forty (40) feet front by eighty (80) feet south in depth; bounded north by Lands of by Hampton court, east by Lands of west by Lands of McGregor. Terms-One-half cash; balance by bond of the purchaser at one year from day of sale, with in terest, and mortgage of the property; Buildings to be insured and policy assigned. Purchaser to pay for papers and stamps. W. J. GAYER, Referee. dec13-tus7 STATES OF AMERICASouth Carolina District-In Circuit Court -T. & J. Green VS. Bank of Georgetown, et al. In pursuance of order made in above case, on the 1st of July. A. D. 1870, by the Circuit Court aforesaid, will be sold. in the Town of Georgetown; S. O., on MONDAY, the 19th day of December, 1870, at 12 M., in front of the Courthouse, The REAL ESTATE belonging to. the Bank of Georgetown, known and distinguished in the Plan of the Town as Lots Nos. 89 and 90, measuring 151 by 109 feet, with the Banking House and other buildings thereon; and also, at the same time and place, the FURNITURE, &c., of said Bank, consisting of


Article from The Charleston Daily News, February 15, 1871

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UNITED STATES COURT.-The District Court was opened at 10 o'clock yesterday morning, his Honor Judge Bryan presiding. In re M. N. Holstein, bankrupt, ex parte A. Ramsay. , Petition to establish a lien. The report of the registrar in favor of the petition was read, and an order for the sale of the property granted. Ex parte F. J. Smith, assignee, in re McCarthy & Roy, bankrupts. Ordered, that the assignee do pay out the dividends declared on the 4th of Feb. ruary, 1871, excepting such as are ordered to be reserved, and that the amount of the debt of Jas. Campbell be fixed at $1003 61-100, and the proper dividend thereon at $138 50-100. On motion, Jno. H. Barnwell, Esq., was admit. ted to practice in the Circuit and D strict Courts of the United States. The case of the Beaufort commissioners was taken up, and M. P. O'Connor, Esq., resumed his argument for the defence. At the conclusion of which, the court adjourned until 10 o'clock this morning. CIRCUIT COURT. The United States Court, for the District of South Carolina, was opened at 11 o'clock yesterday morning, the Hon. II. L. Bond presiding. J. and T. Green vs. the Bank of Georgetown, et al. The report of the special referee was read, setting forth that the receiver, Wm. Fraser, had submitted his report, showing funds in his hands realized from the sales of assets to the amount of $222840, of which $7617 was cash. It was ordered that the receiver pay into court the said cash and credit, and that the clerk tax the costs and pay the same, allowing the receiver $300 for his services, and that the clerk report the names of the claimants and the percentage to which they are entitled. Ex parte Henry Buck, in re J. and T. Green vs. the Bank of Georgetown, et al. The report of the referee, showing an Indebtedness of H. Buck to the bank of $1784 05 and a counter indebtedness of the bank to him of $3275. The report was confirmed, and H. Back allowed to come in and claim his percentage for the balance. The Circuit Court then adjourned sine die.


Article from The Morning News, March 16, 1891

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nt of the Press association, which meets Georgetown next month. He is now in respondence with the Clyde line of amships, and hopes soon to complete angements for a cheap trip to New rk on their handsome steamer Pawnee. Ground has been broken at Georgetown the foundation of the confederate monent to be erected in memory of the dead Company A, Tenth South Carolina regint, C. S. A., and the committee who have matter in charge are making every ort to have the unveiling take place dnrthe meeting of the State Press Associa1, which meets there next month. t a meeting of the stockholders of the ok of Georgetown held recently, Will1 D. Morgau. J. B. Steele, A. A. Springs, orge W. Williams, A. M. Manigault, L. eslau and Sol Brillis were elected a board directors, and 20 per cent. of the cap1 stock was called, to be paid by March Subsequently the directors met and eted W. D. Morgan president and J. J. zard cashier. It is proposed to start iness on April 1. Dutenhofer of New York has sent on to funded two green bonds, issue of 1872, redeem bills of the bank of the state. As se bonds matured in 1889, and the time redeeming them was by the act in 1880, re will bea little figuring done before fundling is affected. One lawver is of inion that these bonds, whose full value now over $4,000, should be funded as of 0, by which the value will be not much ected in favor of the funder. 'ire at the Pacolet mills at Spartanburg, esday night, destroyed 2,723 bales of cot. The fire was discovered about 9:30 lock, and in a few minutes the wareuse was in a full blaze. It seems to have n set on fire, as there had been no fire r the house to-day or at all lately. This ot the first time that incendiarism has en attempted at the mills. The insurance gregates $100,000. The loss is estimated $105,000. Two warehouses were burned. Near Spartanburg, Tuesday, Mrs. Haynes t her son, aged 10, to cook a pot of coffee supper. He mistook a can of stramonn or Jimson weed for coffee and boiled it. e mily, consisting of the mother and ir children, drank the stuff Shortly afwards each one felt a dizzy sensation, th parched throats and thirst, which ter would not quench. Dr. George R. an was sent for immediately. He found family in a crazy condition, two of m having spasms every few minutes. were saved. is agent of the stockholders of the Nanal Bank of Sumter, which was wrecked August, 1887, Col. R. M. Wallace has reved from the United States controller the currency $8,125 in dividends, which began to pay out Weduesday. This ounts to $16 per share. All debts against bank and interest were paid in full by ceiver Phillips before his discharge, To this the stockholders were assessed $39 share, in addition to losing their stock. IIIM erom 000'91$ in and that percedxe S collected from suits now pending. welve prisoners have been convicted in Bishopville riot cases for the riot on turday night. John Rembert was senced to nine months at hard labor in the nitentiary or to pay $150, and Henry bert, Calvin Jackey, Edmond Green, lliam Mack, Tom Davis, Stephney vers, Capers Mack, Sam Peters. Frazer Intosh, Wash George and Colclough illiams were sentenced to six months at d labor in the penetentiary or $100 fine. lliam Mack paid his fine and was disarged. For the Sunday riot all were victed except John Rembert and Willn Mack, and were sentenced to six nths in the penitentiary or to pay $100. in Rembert was shot in the riot on Satlay night and was not engaged in the nday affair. He was the ringleader on turday night and consequently got a vier sentence than the rest. He exets to be able to pay his fine. The following general order, No. 2, has en issued by the adjutant and inspector neral: "With a view to greater convence in the organization, assembling, drill d discipline of the troops, the following anges are hereby ordered, to take place m this date in the commands mentioned, follows: 1. The companies comprising Insurtry "I 'A O S Second 6 1. Wilie Jones commanding, will be as lows: Gordon Light Infantry, Capt. W. Jordan, Winnsboro, S. C.; Governor's ards, Columbia, S. C.; Richland Volunrs, Capt. Joseph K. Alston, Columbia, C.: Lee Light Infrantry, Capt. J. K. rshall, Chester, S. C.: Jenkins fles, Capt. W. B. Moore, Yorkville, S. C.; tawba Rifles, Capt. E. A. Smith, Rock 11, S. C; Edisto Rifles, Capt. N. H. Bull, angeburg, S. O; Fort Motte Guards, pt. R. M. Claffy, Fort Motte, S. C; Lexton Guards. Cant C. R