17502. Merchants & Farmers Bank (Spartanburg, SC)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
August 1, 1931*
Location
Spartanburg, South Carolina (34.950, -81.932)

Metadata

Model
gpt-5-mini
Short Digest
f7161eb498e814ee

Response Measures

None

Description

Articles indicate Merchants & Farmers Bank (Spartanburg, SC) was closed and in receivership by 1934; Article (1934-02-18) states the bank has been closed now for two and half years, implying suspension/closure circa Aug 1931. No article describes a depositor run triggering suspension; receiver named (John A. Law Jr.). Cause of suspension is not specified in the provided snippets.

Events (2)
1. August 1, 1931* Suspension
Cause Details
Article does not specify the immediate cause of the suspension; only notes the bank has been closed about two and a half years by Feb 1934.
Newspaper Excerpt
It was further pointed out in the that no dividends have paid depositors of the Merchants and Farmers bank which has been closed now for two and half years
Source
newspapers
2. February 17, 1934 Receivership
Newspaper Excerpt
Compromise of suit brought by John A Law. Jr. as receiver for the Merchants and Farmers bank ... Judge Sease pointed out ... no dividends have paid depositors of the Merchants and Farmers bank which has been closed now for two and half years and that prosecution of the action will further delay this resources, ... John A. Law, Jr., receiver of the Merchants and Farmers Bank of Spartanburg, South Carolina is named in later foreclosure notices (1936).
Source
newspapers

Newspaper Articles (4)
1. February 18, 1934 The Greenville News Greenville, SC
Article from The Greenville News, February 18, 1934

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Article Text

BANK SUIT ENDS IN Merchants And Farmers Gets More Than $35,000 As Result Of Decision SPARTANBURG Feb 17.-Compromise of suit brought by John A Law. Jr. as receiver for the Merchants and Farmers bank against Albert Lohm, for the First and the Indemnity Insurance Company of North America, for the First National bank as receiver the Merchants and Farmers bank has been approved by Judge T. S Sease circuit jurist Under the settlement the Merchants and Farmers bank will lose but total claim against the First National and its surety Judge Sease pointed out in his order approving the settlement that the compromise will be to the best interest of depositors in that the delay of prosecuting the action will be It was further pointed out in the that no dividends have paid depositors of the Merchants and Farmers bank which has been closed now for two and half years and that prosecution of the action will further delay this resources, such cooperation between police departments and central organization would be virtually impossible because of lack of funds Although the identification bureau of the police dehas only about year already 1,500 suspects have and photographed Many of these records are filed in duplicate in Washington

2. February 7, 1936 The Times-News Hendersonville, NC
Article from The Times-News, February 7, 1936

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Article Text

ed for tonight, has been postned because of the bad weathThe High School Boys will meet extile Institute tomorrow night the gym. The Institute team S e of the strongest ever to apar here. NOTICE OF FORECLOSURE SALE TATE OF NORTH CAROLINA ENDERSON COUNTY . P. Conyers, receiver of the Central National Bank of Spartanburg, South Carolina Plaintiff. Vs ke Summit Company: Horace L. Bomar; M. E. Bowden, cashier; Horace L. Bomar, attorney; Margaret M. Law, John A. Law, L. R. Bull, receiver of the Peoples Building & Loan Association of Spartanburg, South Carolina; John A. Law, Jr., receiver of the Merchants and Farmers Bank of Spartanburg, South Carolina; W. S. Montgomery, E. M. Matthews, and M. L. Smith, trustees of the estate of W. S. Montgomery, deceased, E. M. Blythe, P. A. Bonham, and Mrs. Nannie Earle Bomar-Defendants. Whereas, by consent decree ndered by the Clerk of the Suerior Court of Henderson Counon the 30th day of January, 36, J. E. Shipman was duly apinted Commissioner to sell the nds herein advertised to be sold , him, and J. O. Bell was apinted Commissioner to sell the nds herein advertised to be sold , him; and whereas, by virtue and pursuant to the authority inferred upon said Commissionis by said decree, the said J. E. ipman, Commissioner, will on onday, March 2nd, 1936, at even o'clock, A. M., at the court use door of Henderson County, Hendersonville, North Caroa, offer for sale at public outy to the highest bidder for cash, I the following described lands, tuate in the Township of Green ver, County of Henderson, ate of North Carolina, and own and designated as follows: 1. All those lots numbered 135 to 4, inclusive of Section 1 of ke Summit Company, as shown plat of same recorded in the fice of the Register of Deeds r said County in Plat Book 1, at ge 21; said lots being bounded the North by Lakeside Drive, d by a park reserved as shown said plat; on the East and uth by Alta Vista Drive, and the West by a park shown on id map, and being lands describin that mortgage of record in ok 124, at page 301, of the cords of Mortgages for said unty. 2 All those lots numbered 71 to 4, inclusive, and 145 to 187, insive, in Section 1, and also lots mbered 106 to 152, inclusive, d 58 to 105, inclusive, and 155 162, inclusive, in Section J, as own on map of property of ke Summit Company at Tux0, North Carolina, and which d map, is of record in Plat ok 1, at page 21, of the Recis of Plats for Henderson Counto which plat reference is reby made for full and comte description, and being the perty described in that mortge of record in Book 124, at ge 302, of the Records of Mortges for said County. 'ฮต That tract of land containing ) acres, more or less, lying on South side of Lake Summit 1 bounded on the North by d Lake, and the right of way the Southern Railway Comy; on the East by the lands Green River Corporation, et on the South by the lands of

3. February 21, 1936 The Times-News Hendersonville, NC
Article from The Times-News, February 21, 1936

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Article Text

NOTICE OF FORECLOSURE SALE STATE OF NORTH CAROLINA HENDERSON COUNTY W. P. Conyers, receiver of the Central National Bank of Spartanburg, South Carolina Plaintiff. Vs Lake Summit Company: Horace L. Bomar; M. E. Bowden, cashier; Horace L. Bomar, attorney; Margaret M. Law, John A. Law, L. R. Bull, receiver of the Peoples Building & Loan Association of Spartanburg, South Carolina; John A. Law, Jr., receiver of the Merchants and Farmers Bank of Spartanburg, South Carolina; W. S. Montgomery, E. M. Matthews, and M. L. Smith, trustees of the estate of W. S. Montgomery, deceased, E. M. Blythe, P. A. Bonham, and Mrs. Nannie Earle Bomar-Defendants. Whereas, by consent decree rendered by the Clerk of the Superior Court of Henderson County on the 30th day of January, 1936, J. E. Shipman was duly appointed Commissioner to sell the lands herein advertised to be sold by him, and J. O. Bell was appointed Commissioner to sell the lands herein advertised to be sold by him; and whereas, by virtue of and pursuant to the authority conferred upon said Commissioners by said decree, the said J. E. Shipman, Commissioner, will on Monday, March 2nd, 1936, at eleven o'clock, A. M., at the court house door of Henderson County, in Hendersonville, North Carolina, offer for sale at public outcry to the highest bidder for cash, all the following described lands, situate in the Township of Green River, County of Henderson, State of North Carolina, and known and designated as follows: 1. All those lots numbered 135 to 144, inclusive of Section 1 of Lake Summit Company, as shown on plat of same recorded in the Office of the Register of Deeds for said County in Plat Book 1, at page 21; said lots being bounded on the North by Lakeside Drive, and by a park reserved as shown on said plat; on the East and South by Alta Vista Drive, and on the West by a park shown on said map, and being lands described in that mortgage of record in Book 124, at page 301, of the Records of Mortgages for said County. 2. All those lots numbered 71 to 134, inclusive, and 145 to 187, inclusive, in Section 1, and also lots numbered 106 to 152, inclusive, and 58 to 105, inclusive, and 155 to 162, inclusive, in Section J, as shown on map of property of Lake Summit Company at Tuxedo, North Carolina, and which said map, is of record in Plat Book 1, at page 21, of the Records of Plats for Henderson County, to which plat reference is hereby made for full and complete description, and being the property described in that mortgage of record in Book 124, at page 302, of the Records of Mortgages for said County. 3. That tract of land containing 160 acres, more or less, lying on the South side of Lake Summit and bounded on the North by said Lake, and the right of way of the Southern Railway Comon the East by the lands

4. March 6, 1936 The Times-News Hendersonville, NC
Article from The Times-News, March 6, 1936

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Article Text

NOTICE OF FORECLOSURE SALE STATE OF NORTH CAROLINA HENDERSON COUNTY W. P. Conyers, receiver of the Central National Bank of Spartanburg, South Carolina Plaintiff. Vs Lake Summit Company: Horace L. Bomar; M. E. Bowden, cashier; Horace L. Bomar, attorney; Margaret M. Law, John A. Law, L. R. Bull, receiver of the Peoples Building & Loan Association of Spartanburg, South Carolina; John A. Law, Jr., receiver of the Merchants and Farmers Bank of Spartanburg, South Carolina; W. S. Montgomery, E. M. Matthews, and M. L. Smith, trustees of the estate of W. S. Montgomery. deceased, E. M. Blythe, P. A. Bonham, and Mrs. Nannie Earle Bomar-Defendants. Whereas, by consent decree rendered by the Clerk of the Superior Court of Henderson County on the 30th day of January, 1936, J. E. Shipman was duly appointed Commissioner to sell the lands herein advertised to be sold by him, and J. O. Bell was appointed Commissioner to sell the lands herein advertised to be sold by him; and whereas, by virtue of and pursuant to the authority conferred upon said Commissioners by said decree, the said J. E. Shipman, Commissioner, will on Monday, March 2nd, 1936, at eleven o'clock, A. M., at the court house door of Henderson County, in Hendersonville, North Carolina, offer for sale at public outcry to the highest bidder for cash, all the following described lands, situate in the Township of Green River, County of Henderson, State of North Carolina, and known and designated as follows: 1. All those lots numbered 135 to 144, inclusive of Section 1 of Lake Summit Company, as shown on plat of same recorded in the Office of the Register of Deeds for said County in Plat Book 1, at page 21; said lots being bounded on the North by Lakeside Drive, and by a park reserved as shown on said plat; on the East and South by Alta Vista Drive, and on the West by a park shown on said map, and being lands described in that mortgage of record in Book 124, at page 301, of the Records of Mortgages for said County. 2. All those lots numbered 71 to 134, inclusive, and 145 to 187, inclusive, in Section 1, and also lots numbered 106 to 152, inclusive, and 58 to 105, inclusive, and 155 to 162, inclusive, in Section J, as shown on map of property of Lake Summit Company at Tuxedo, North Carolina, and which said map, is of record in Plat Book 1, at page 21, of the Records of Plats for Henderson County, to which plat reference is hereby made for full and complete description, and being the property described in that mortgage of record in Book 124, at page 302, of the Records of Mortgages for said County. 3. That tract of land containing 160 acres, more or less, lying on the South side of Lake Summit