Article Text
BANK FAILS TO OPEN Laurens, S. Dec. The Peoples Enterprise Bank here failed to open its doors for business this morning. The bank's statement of September 30 showed $460,000 deposits.
17440. Peoples Enterprise Bank (Laurens, SC)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- state
- Start Date
- December 1, 1931
- Location
- Laurens, South Carolina (34.499, -82.014)
Metadata
- Model
- gpt-5-mini
- Short Digest
9f9ac27d9d7ba958
Response Measures
None
Description
The bank failed to open on Dec 1, 1931 (suspension). By Dec 19, 1931 a receiver (Ernest Easterby) was appointed and liquidation arranged, so the suspension led to permanent closure/receivership. No run or depositor riot is mentioned in the articles.
Events (2)
1.
December 1, 1931
Suspension
- Cause
- Government Action
- Cause Details
- Bank failed to open for business; state bank examiner became involved and later pushed for liquidation.
- Newspaper Excerpt
- Laurens, S. Dec. The Peoples Enterprise Bank here failed to open its doors for business this morning.
- Source
- newspapers
2.
December 19, 1931
Receivership
- Newspaper Excerpt
- Liquidation Of Laurens Institution To Start... the depositors of the Peoples Enterprise bank which was closed December... Ernest Easterby ... was elected receiver of the bank ... The receiver is to receive salary $2,000 year ... the bank not insolvent was shown and has on hand $50,000 which be paid the depositors once according to agreement as to liquidation procedure.
- Source
- newspapers
Newspaper Articles (2)
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Article Text
EASTERBY BANK RECEIVER Liquidation Of Laurens Institution To Start With Pay$50,000 At Once ment LAURENS, Dec. meeting today of the depositors of the Peoples Enterprise bank which was closed December the board directors after conference with the state bank examiner, Ernest Easterby president of the Laurens Glass Works company was elected receiver of the bank, John Wells as Todd, former president of the bank, assistant to Easterby; and Hayne Taylor, M. Smith and Charles F. Fleming, advisory The receiver is to receive salary $2,000 year, the assistant per "reasonable and the attorney "not to exceed acsalary to resolution that was cording adopted by the meeting. The bank not insolvent was shown and has on hand $50,000 which be paid the depositors once according to agreement as to liquidation procedure. Albert Fant. state bank examiner, was present and stated state desired to see the bank's affairs liquidated large fees costs was capitalized at $100,000.