17476. Keowee Bank (Pickens, SC)

Bank Information

Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
state
Start Date
August 11, 1928
Location
Pickens, South Carolina (34.883, -82.707)

Metadata

Model
gpt-5-mini
Short Digest
64ca37ab82cc75a0

Response Measures

None

Description

Newspapers (Aug 1928) report false oral reports circulated in mid-August caused a run on Keowee Bank, which closed its doors about two weeks before Aug 26, 1928. Warrants were issued for those who spread the false reports; later the bank head withdrew charges after the state examiner denied the damaging statements. The articles do not report a reopening, so classification is run โ†’ suspension/closure.

Events (2)

1. August 11, 1928 Run
Cause
Rumor Or Misinformation
Cause Details
Local individuals allegedly circulated false oral statements claiming the Keowee Bank was going to suspend/was insolvent, which the bank says caused a run.
Random Run
Yes
Random Run Snippet
false oral statement Keowee Bank was going to suspend; later denied
Measures
Bank closed its doors (suspended payments) after the run; bank head later pursued warrants against rumor-spreaders.
Newspaper Excerpt
warrant for Holder charges that he did 'falsely and wilfully ... make the following false oral ... the Keowee bank going and thereby caused run on said bank
Source
newspapers
2. August 12, 1928 Suspension
Cause
Rumor Or Misinformation
Cause Details
Closure/suspension attributed in the press to runs triggered by malicious false reports about the bank's solvency and impending suspension; warrants were issued charging persons with circulating these false reports.
Newspaper Excerpt
which closed its doors two weeks ago
Source
newspapers

Newspaper Articles (3)

Article from The Greenville News, August 26, 1928

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Article Text

Four Charges Of Circulating False Reports Made In Late Closing Of The Keowee Bank Two Slander Warrants Also Taken Out By James P. Carey In Matter By STAFF CORRESPONDENT PICKENS, Aug Invoking for the first time in the history of the State, so far is known here, law passed by the Legislature 1922 providing for punishment of persons who maliciously spread damaging and false reports about banking institutions, James president of the Keowee bank. which closed its doors two weeks ago, has taken out warrants charging four local persons with violation of the statute. In addition two other warrants have been issued charging slander Ossie Holder, Robinson. 10cal attorney Mrs. Robinson and C. Porter barber are charged with circulating false reports about the Keowee all warrants being issued by Pickens Township Magistrate Porter on August exagainst Mr which taken on August All made bond in the TWO OTHERS NAMED Ernest Folger merchant, was charged in warrant taken out before Magistrate Porter on August and Craig was named in similar charge warrant issued August Bond in the sum of $500 was put up in each Preliminary hearing of all cases has been before Magistrate Porter at o'clock in the morning of Monday, September 10. evidence appears sufficient, defendants bound over for trial in General Sessions court, and if not. the charges will be dropped. Warrant for Holder charges that he did 'falsely and wilfully and with intent to injure Keowee bank make the following false oral ement the Keowee bank going and thereby caused run on said bank and was the cause Mr Robinson charged with saying "that said bank would not pay anybody cent. or words to that Mrs. Robinson cused in the warrant of saving that the Keowee bank was going cut of business, and thereby caused run on said bank and closed the same. Accusation against M: Porter included that of uttering the stat ment "that the said bank was going to suspend which affects the credit and standing of said bank and cast suspicion upon its solvency soundness, and ability to meet its obligations, and caused a run SPECIFIC CHARGE Mr. Folger in the slander warfaces the charge that he and origiutter, and circulate the folfalse him Mr Carey) First, that he ad rather M. Smith run ba.. for him drunk than Jim Carey sober, and Second That he did not think Carey had any ability. the effect of which tends to injure him in character and reputation The warrant for Mr Craig charges that did unlawfully and maliciously utter and circulate following false against him, wit First That he about of the estate of his father making satisfactory settlement with the heirs. and Second That he and his second wife do not enjoy any social prominence, the ef fect of which tends to injure him and his wife in his and her character and reputa Law violations charged in all cases are but upon convic upon such rges are subject comparatively penalties at the discretion of trial judges.


Article from The Greenville News, August 27, 1928

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Article Text

Resolution Of Confidence In Robinson Passed By Church Baptist Congregation Offers Support In Keowee Bank Matter the integrity of Mr. and Mrs Pickens, against whom charges nection with the closing the Keowee Bank at days were adopted by the Pickens Baptist church this morning at the The charges against Mr. and Mrs. effect that had the resulted the which its UNANIMOUSLY ADOPTED The by Hinton, deacon of and adopted by rising vote. Remarks made by Mr. Hinton, Reed. Capt. Taylor, Jones others in which expresMr. and made to their After the action of the church News asked Robinson if he had any make in connection with the resolutions. He stated that he was wholly ignorant them. he not requested such action that he ful to his friends for expressions and friendship. Asked he had any statement make to the against he and Mrs. Robinson, he said none, except that they were groundless he felt sure of a public vindication RESOLUTIONS The follow: has come to the tention the Pickens Baptist church. that our brother and sister, Mr. and Mrs. are being embarrassed by certain warrants which have been served on First That the of Pickens Baptist church do hereby, by rising declare our confidence Christian and character Brother and Sister Robinson Second That deacon of church Brother Robinson his public and private life has endeavgood as taught that sober and of good he given to lover of men and that he has used the office deacon Third: That we look with disfavor on any man or of men would personal prejudice hate to influence them to seek an Fourth That the membership believing in prayer and that the fervprayer of the righteous availhereby pledge ourselves to pray Brother and Sister Robinson in this time of trouble the cordance with the of God.


Article from The Greenville News, September 4, 1928

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Article Text

Papers Against Mr. And Mrs C. E. Robinson Withdrawn By Bank's Head PICKENS Sept Special) The today in the Keowee Bank closing On the 21st day of August 1928 warrant out Mrs Nannie Robinson charging against that the 11th day August 1928 she did falsely and wilfully and with in tent made false ora effect that the Keowee Bank was going to suspend and caused bank and closed the and on the 22 da) of August 1928 was him intent to injure Keowee Bank hands State Examiner make the following bank said bank could not pay anybody cent or words to this Ye hereby deny said charges. and have denied first they had been made against and say thes are untrud We have the Keo wee made any statement to as soundness reliabilit any statement that way upon its financial standing and any statement by persons to the con trary absolutely false this statement has been drawn the warrants and charges against and hereby declare the matter settled and ended so far as ROBINSON MRS ROBINSON This 1928 The eccepted me as true and satisfactory and hereby withdraw the warrants and charges against Mr and Mrs Robinson state further that said were sworn by me upon furnished me tective had employed to find out the of the run on the Keo wee bank no or ill will to. ward Mr and Mrs Robinson and said warrants and JAS Sept 1928