19839. Interstate Trust Company (Aiken, SC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
February 10, 1913
Location
Aiken, South Carolina (33.560, -81.720)

Metadata

Model
gpt-5-mini
Short Digest
d233aa40

Response Measures

None

Description

Multiple articles from February 1913 report that the Interstate Trust Company (Aiken, SC) is in the hands of a receiver and described as defunct; receiver can't locate books/assets and president reportedly removed records. No article describes a depositor run — rather a receivership and likely permanent closure tied to alleged fraud and missing records.

Events (2)
1. February 10, 1913 Receivership
Newspaper Excerpt
James H. Howlett, of Allendale, S. C., appointed by the United States court in Charleston as receiver for the Interstate Trust Company of Aiken, S. C., today issued a statement ... All Stockholders and creditors are requested to furnish me information. B. S. Dunn, of New York, president ... is said to have left Aiken and taken with him the books and records of the corporation. (Herald and News, Feb. 14, 1913; statement dated Feb. 10.)
Source
newspapers
2. February 10, 1913 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Receiver reported books, records and assets missing; president said to have left with books; alleged fraud connected to related Citizens Trust Company and indictments mentioned.
Newspaper Excerpt
appointed by the United States court in Charleston as receiver for the Interstate Trust Company of Aiken, S. C., today issued a statement, in which he says: The books, records and assets have not been found
Source
newspapers

Newspaper Articles (6)
1. February 12, 1913 The Lexington Dispatch Lexington, SC
Article from The Lexington Dispatch, February 12, 1913

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Article Text

State News. President-elect Wilson is at work on his inaugural address. Rural Policeman John Turner arrested twenty negroes near Prosperity last Friday on the charge of gambling. A. W. Todd, the architect who drew the plans for a million dollar State house, is again asking the Legislature to pay him $12,000 for them. F. O. Beach was recently tried in the Aiken court charged with haviag cut his wife's throat with intent to kill her, and acquitted. I. W. Bowman, Esq., was elected Judge of the First Circuit by the Legislature last week, vice W. L. Glaze who declined to serve. There is a movement on foot to establish a gas plant in Orangeburg. Local capital will be interested, but the promoters come from Baltimore. W. J. Montgomery, ex-Senator from Marion county, and well known throughout the eastern part of the State, is desperately ill at a hospital in Richmond, but has d fighting chance for his life. Walter H. Wells, Solicitor of the 12th Circuit, died at his home in Florence recently. Aged 40 years. He leaves a wife and one daughter. He is suc. ceeded as Solicitor by L. D. Single. ton, of Conway. Ohief of Police Isadore Barwick, of Pineland, was shot and killed by Sam Dakes, a negro, on last Monday. Dukes made flood his escape and has not since been captured. Edgefield is to have one of the fineest high schools that there is in the State. There is to be ten grades with probably two more to be added, which are to be in charge of teachers of ability and experience. Sumter county had two shootings recently. Francis Taylor, colored, shooting at a white man at the railroad station, wounding Joe Durant, colored; and W. E. McBride, rural policeman, shot and killed a negro at Mayesville. James H. Howlett. of Allendale, recently appointed by the United States court receiver of the Interstate Trust Co., of Aiken, has reported that he cannot find the books, papers and assets of the defunct concern. Harrison Miles, who, on December 12th last, killed Bradford Courtney, a prominent farmer of Aiken county, was captured in Georgia and brought to Aiken. His appearance in that town was the cause of a near-lvnching bee, many wanted to send him to Kingdom come via the neck no rout-

2. February 14, 1913 The Herald and News Newberry, SC
Article from The Herald and News, February 14, 1913

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Article Text

RECEIVER ISSUES STATEFENT. Can't Locate Assets and Records of Interstate Trust Co.. Augusta, Ga., Feb. 10.-James H. Howlett, of Alledale, S. C., appointed by the United States court in Charleston as receiver for the Interstate Trust Company of Aiken, S. C., today issued a statement, in which he says: "The books, records and assets have not been found, though demanded by the United States marshall. All Stockholders and creditors are requested to furnish me information." B. S. Dunn, of New York, president of the Interstate Trust Company, whose offices were in Aiken while the concern was doing business, is said to have left Aiken and taken with him the books and records of the corporation. It is understood that between $250,000 and $300,000 are involved in the concern, which owned the capital stock of the Citizen's Trust Company, of Augusta, also defunct, and which is now undergoing investigation of the grand jury in session here at this time. The Federal court recever of the Interstate Company will make motion to

3. February 25, 1913 Atlanta Georgian Atlanta, GA
Article from Atlanta Georgian, February 25, 1913

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Article Text

Taft Praised For Ordering Troops. PIERRE, S. DAK., Feb. 25,-Resolutions praising President Taft for sending troops to the Mexican border were adopted by both houses of the legislature here. A movement is on foot to secure appointment of Adjutant General Englesby as a South Dakota colonel to raise a regiment in case any exigency should arise. AFFAIRS OF FAILED AUGUSTA BANK GET IN FEDERAL COURT AUGUSTA. GA., Feb. 25.-No disbursement of the assets of the Citizens Trust Company will be made by Receiver J. P. Armstrong until after March 17, for on that date Judge Emory Speer will hear a petition for a permanent injunction on the part of the stockholders of the Interstate Trust Company of Aiken. asking that the assets not be disbursed to the depositors. B. Sherwood Dunn, president of the Interstate company, is behind the movement. A temporary restraining order has been granted by Judge Speer in Savannah. The Interstate company is also in the hands of a receiver. A hearing was held before Judge Henry C. Hammond, of the Richmond superior court, in which certain legal phases of the matter were discussed, but Judge Hammond did not order a distribution of the assets. Receiver Armstrong has collected enough money to pay ten per cent dividend to the creditors and depositors. Dunn, D. H. Willard and S. H. Myers, three of those indicted last week by the Richmond county grand jury in connection with alleged fraud, have not yet been arrested.

4. February 25, 1913 Atlanta Georgian Atlanta, GA
Article from Atlanta Georgian, February 25, 1913

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Article Text

AFFAIRS OF FAILED AUGUSTA BANK GET IN FEDERAL COURT AUGUSTA, GA., Feb.' 25.-No disbursement of the assets of the Citizens Trust Company will be made by Receiver J. P. Armstrong until after March 17, for on that date Judge Emory Speer will hear a petition for a permanent injunction on the part of the stockholders of the Interstate Trust Company of Aiken, asking that the assets not be disbursed to the depositors. B. Sherwood Dunn, president of the Interstate company, is behind the movement. A temporary restraining order has been granted by Judge Speer in Savannah. The Interstate company is also in the hands of a receiver. A hearing was held before Judge Henry C. Hammond, of the Richmond superior court, in which certain legal phases of the matter were discussed, but Judge Hammond did not order a distribution of the assets. Receiver Armstrong has collected enough money to pay ten per cent dividend to the creditors and depositors. Dunn, D. H. Willard and S. H. Myers, three of those indicted last week by the Richmond county grand jury in connection with alleged fraud, have not yet been arrested.

5. February 25, 1913 Atlanta Georgian Atlanta, GA
Article from Atlanta Georgian, February 25, 1913

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Article Text

AFFAIRS OF FAILED AUGUSTA BANK GET IN FEDERAL COURT AUGUSTA, GA., Feb. 25.-No disbursement of the assets of the Citizens Trust Company will be made by Receiver J. P. Armstrong until after March 17, for on that date Judge Emory Speer will hear a petition for a permanent injunction on the part of the stockholders of the Interstate Trust Company of Aiken, asking that the assets not be disbursed to the depositors. B. Sherwood Dunn, president of the Interstate company, is behind the movement. A temporary restraining order has been granted by Judge Speer in Savannah. The Interstate company is also in the hands of a receiver. A hearing was held before Judge Henry C. Hammond, of the Richmond superior court, in which certain legal phases of the matter were discussed, but Judge Hammond did not order a distribution of the assets. Receiver Armstrong has collected enough money to pay ten per cent dividend to the creditors and depositors. Dunn, D. H, Willard and S. H. Myers, three of those indicted last week by the Richmond county grand jury in connection with alleged fraud, have not yet been arrested.

6. February 26, 1913 Atlanta Georgian Atlanta, GA
Article from Atlanta Georgian, February 26, 1913

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Article Text

AFFAIRS OF FAILED AUGUSTA BANK GET IN FEDERAL COURT AUGUSTA, GA., Feb. 25.-No disbursement of the assets of the Citizens Trust Company will be made by Receiver J. P. Armstrong until after March 17, for on that date Judge Emory Speer will hear a petition for a permanent injunction on the part of the stockholders of the Interstate Trust Company of Aiken, asking that the assets not be disbursed to the depositors. B. Sherwood Dunn, president of the Interstate company, is behind the movement. A temporary restraining order has been granted by Judge Speer in Savannah. The Interstate company is also in the hands of a receiver. A hearing was held before Judge Henry C. Hammond, of the Richmond superior court, in which certain legal phases of the matter were discussed, but Judge Hammond did not order a distribution of the assets. Receiver Armstrong has collected enough money to pay ten per cent dividend to the creditors and depositors. Dunn, D. H. Willard and S. H. Myers, three of those indicted last week by the Richmond county grand jury in connection with alleged fraud, have not yet been arrested.