Exchange Bank - Batesburg, SC

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1896*
Location: Batesburg, South Carolina (33.908, -81.547)

Metadata

Model: gpt-5-mini
Short Digest: 0fded033

Response Measures

None

Description

Newspaper reports state the Exchange Bank of Batesburg 'failed' and an assignee/receiver (D. D. Traywick) was appointed; assets were advertised and sold in March 1896. No article describes a depositor run or rumors — failure appears due to insolvency (liabilities exceed assets) and led to receivership and sale (permanent closure). Dates: failure reported early January 1896; receiver noted by Feb 12, 1896; assets sold in March 1896.

Events (4)

1. January 1, 1896* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank declared to have failed; later notice by cashier said depositors likely to lose nothing, but liabilities exceed assets (insolvency/assignment).
Newspaper Excerpt: The Exchange Bank of Batesburg, of which J. H. Huett is president, failed Tuesday.
Source: newspapers

2. February 12, 1896 Other

Newspaper Excerpt: Mr. D. D. Traywick; has been appointed receiver of the Exchange Bank of Batesburg, of which he was the Cashier. The liabilities of the Bank are the assets $10,139.00.
Source: newspapers

3. March 20, 1896 Other

Newspaper Excerpt: The Exchange Bank and effects were sold last Friday at private sale to C. W. Sollee for $2,400.
Source: newspapers

4. March 21, 1896 Other

Newspaper Excerpt: Sale of Property. The State of South Carolina, In the Matter of the Assigned Estate of the Exchange Bank of Batesburg... will ... offer the said property for sale at public auction before the Bank Building in the Town of Batesburg ... on Saturday, the 21st day of March, 1896, at 10 o'clock in the forenoon.
Source: newspapers

Newspaper Articles (5)

1. January 6, 1896 The Morning News Savannah, GA

Article from The Morning News, January 6, 1896

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SOUTH CAROLINA. The town of Edgefield sent to Columbia Monday more than $1,100 as the state's share of the dispensary profits for Christmas week. The police of. Columbia are authorized to wear citizens' clothes at their disposal, in order to run down all the blind tigers in the city. Tuesday a brakeman named Cato Miles was caught by the local freight in attempting to make a coupling at Sellers and severely, if not fatally, injured. The secretary of state has granted a charter to the Hope Building and Loan Association of Charleston. A charter was also granted to the Florence Drug Company of Florence. Luther McClinton of Verdery, son of Mrs. Mattie McClinton, who was about 18 years of age, was accidentally shot Tuesday by Lem Bishop, colored, and died in less than one hour from the effects of the wound. The store of Louis Cohn, merchant tailor and clothier, of Charleston, was closed Thursday, Mr. Cohn having made an assignment for the benefit of his creditors and named J. N. Nathans, Jr., as assignee. There will be a meeting of creditors at the office of J. N. Nathans on Wednesday, Jan. 8. Jim Sanders, colored, aged about 25 years, was hanged at Barnwell Friday for the murder of Simon Riley last September. He ate a hearty breakfast and met his fate quietly. In his statement on the scaffold he acknowledged the killing and said the cause was the intimacy of the murdered man with his wife. The Exchange Bank of Batesburg, of which J. H. Huett is president, failed Tuesday. No statement of its condition will be given out until the meeting of the creditors, but a notice posted on the door by the cashier is to the effect that it is believed the depositors will lose nothing. State Treasurer W. T. C. Bates is believed to be a large stockholder. Declaration has been filed in the secretary of state's office for a charter for the W. F. Googe Company of Allendale. The corporators are W. F. Googe, T. E. Googe, C. M. Hiers and W. V. Gill. The business of the company will be merchandising. The capital stock will be $10,000, and the principal place of business is Allendale, in Barnwell county. Gov. Evans has made the announcement that supervisors of registration will not open their offices for the registration of voters until the state legislature meets and enacts the new registration laws. The new constitution provides for entirely different methods of registration; hence any registration taking place until those laws are enacted are null and void. Friday night the supreme court rendered a decision settling the question as to whether the city of Columbia school district should receive all of the poll tax collected, instead of only that portion paid in regularly to the county treasurer, and not collected by legal process, the latter class of the funds having been withheld. The court grants the writ of mandamus asked for by the city. A commission far a charter has been issued by the South Carolina Midland Company of Barnwell. The corporators named are J. W. Crow, J. L. Villalonga and Mike Brown. The company proposes to start out with a capital stock of $150,000. The commission asks for general powers, but its chief business appears to be to promote immigration to the state and sell lands to those who come. The new constitution having gone into effect there are now no longer any trial justices in South Carolina; they are magistrates. The new constitution also increases their jurisdiction in both civil and criminal cases. Again there is provision in the new constitution which gives the magistrates power to sentence to the county chain-gangs. The constitution

2. February 12, 1896 Edgefield Advertiser Edgefield, SC

Article from Edgefield Advertiser, February 12, 1896

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trap. Don't plow your land too wet. Clay lands plowed while wet are frequently ruined for years. Garden seeds at W. E. Lynch's, the old reliable Landreth's. Fresh and dainty-heavy and fancy groceries, at W. E. Lynch's. Maps of Edgetield and Saluda Counties, both in one, for sale at the A DVERTISER Office. You may have some sense, but if you stand with the door open this weather, you can't prove it. Mrs. Rosa Lott is teaching in the family of her brother Mr. Joseph Addison. Misses Maggie Fraser and Lillie Cheatham visited friends in town this week. Bills of sale and liens for rent and advances, also, mortgages of real estate, for sale at this office. The cry is going out all through the country to keep down the cotton acreage in the year 1896. Married at Parksville Baptist church Feb. 9th, by Rev. G. W. Bussey, Mr. R. S. Blackwell and Miss Sallie Cartledge. For the best Fire Insurance in old strong and reliable Companies, on town or country property, call on or D. R. DURISOE, Agt. write Walter's "Baker has a natural repu tation and has been on the market since 1841. Your local Dispensary will supply your wants. For the best Fire Insurance in 0 Id strong and reliable companies, on town or conntry property, call on or D. R. DURISOE, Agt. write Acid Phosphate, Granby AmmoniaGoods, Kainit, and Cotton Seed Meal on hand and for sale, by E. J. NORRIS, Agt. Columbia Phosphate Co. Ask at your Dispensary for Private Stock x x x Pure Rye Whiskey. It is a winner at d superior in quality to any on the market. In reference to '96 being a good fruit year, Mr. h. H. Mims, who 18 an expert,. says it is very rare that two good fruit years succeed each other. The Lexington Dispatch says: "Truth is mighty and will prevail unless superior inducements are offered the other way" The best is always the cheapest provided you get the best cheap enough to make it so. You can do this on groceries and drugs always and all the time at W. E. Lynch's. Miss Sallie Carwile has returned to Edgetleld, after an absence of several months at Johnston. She will resume her school duties at the Edgefield Institute. Mr. D. D. Traywick; has been appointed receiver of the Exchange Bank of Batesburg, of which he was the Cashier. The liabilities of the Bank are the assets $10,139.00. The New York Times says that when Tillman made his flercest lunge at Cleveland with his pitchfork he would snap his jaws like a mud turtle. This means he will never turn him loose till it thunders. When you need a bottle of Pure Rye Whiskey for Medicinal purposes, ask at your Dispensary for the genuine and original Bakers Pure Rye Whiskey, E. Walter's & Sulls proprietors. Senator Ingalls, in a lecture in Augusta recently, characterized the Monroe doctrine as "a piece of national brie-a-brac that must be taken down and dusted occasionally." Plans have been drawn for the ereetion in New York city of a building two hundred stories high, three times the height of the fam us Eifel tower. It will cover an entire block. The heavy rains have been general east of the Mississippi valley. The accompanying winds, SO disagreeable here, blew with the violence of a hurricane at the North, where they did much damage to buildings, shipping. etc. Ben Tillman in the Senate stood, A hardy son of toil, And pitchfork used as only could A tiller of the soil. He spoke ebout the nation's wrongs Which carefully he'd noted And tossed upon his pitchfork's prongs The "tyrant" he called bloated. Two hours Benny did his best To save the nation's glory, And when he gave his fork a rest The Senate's floor was gory. -New York World. Farmers Meeting. Mr. A.D. McNair, of Dansville New York, will give a free lecture to farmers on the use of fertilizers, at Edgefield on Thursday Feb 20th at 12 o'clock. A book on fertilizers will be given to each farmer. Duplicate Photographs. Nearly all the negatives made in the last six years are on hand, and duplicates can be had at 25cts., for catinet and 15ets for cards. Order now. R. H. MIMS.

3. March 11, 1896 The Lexington Dispatch Lexington, SC

Article from The Lexington Dispatch, March 11, 1896

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A Splendid Piece of Property. By reference to an advertisement published elsewhere in this issue it will be seen that the Batesburg Cotton Mills will be sold on the 21st of this month, by order of Judge Er nest Gary. $10,000 cash down on day of sale, to be paid to the Receiver, Mr. W. A. Watts, is the terms. This is a splendid opportunity for capital to acquire a valuable and paying piece of property and it is expected that the bidding will be of ten and lively. The assets of the assigned Exchange Bank of Batesburg, consisting of building, furniture, vault, notes, accounts, etc., are advertised for sale in this issue to take place on the same day. Now is the time to buy a bank.

4. March 18, 1896 The Lexington Dispatch Lexington, SC

Article from The Lexington Dispatch, March 18, 1896

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Sale of Property. The State of South Carolina, In the Matter of the Assigned Estate of the Exchange Cank of Batesburg. S. C. SALE OF PROPERTY. OTICE IS HEBEBY GIVEN, THAT N the - undersigned, D. D. Traywick, Assignee for the benefit of the creditors under the above mentioned Deed of Assignment, Edwin Folk Streth r, Agent for creditors. and Isaac Edwards, Umpire appointed by Honorable Ernest Gury, Circuit Jadge, in said matter, will pursuant to the power conferred by said Deed of Assignment, receive bids at the office of the undersigned Edwin Folk Strother, Agent for creditors. in the Town of Batesburg, S. C., until Friday, the 20:h day of March. 1896, for the purchase of the entire property covered by said Deed of Assignment, to be sold at private sale, if a satisfactory bid shall be received, the undersigned parties reserving the right to reject any orali bids. And failing to make such sale, the undersigned parties will offer the said property for sale at public auction before the Bank Building in the Town of Batesburg. S. C., on Saturday, the 21st day of March, 1896, at 10 o'clock in the forenoon. to the highest bidder, for cash, the Bank Building, Vault, Furniture and Fixtures at such public sale to be offered in one lot; the notes. mortgages, bonds and other property to be offered at such public sale in another lot. The property to be sold consists of: (1) the Bank building. vanlt, furniture and fixtures situate in the Town of Batesburg. on Line street. fronting thereon 17 feet 6 inches, and running back therefore 69 feet 5 inches, being bounded on the West by id Line street; on the Sonth by an allyway; on the East by lot of U. X. Gunter; and on the North by lot of J. W. Mitchell, containing 1229 square feet, more or less; the building thereon being of brick, two stories in height, the vault of brick a: d cement; (2, the other property consists of a frame ware-house built on the right of way of the Southern Railway Company, and of sundry notes. mortgages and evidences of indebtedness, of which a list can be seen by application at the office of the undersigned, Edwin Folk Strother, Agent; a'so of Three Thousand Dollars of Huiet Township Bonds, Parties contemplating bidding for this property are invited to call at the office of the undersigned Edwin Folk Strother, and inspect the notes, mortgages and other evi dences of indebtedness. D. D. TRAYWICK, Assignee. EDWIN F. STROTHER, Agent for Creditors. ISAAC EDWARDS. Umpire. March 7, 1896-2w18

5. March 25, 1896 The Lexington Dispatch Lexington, SC

Article from The Lexington Dispatch, March 25, 1896

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Batesburg Locals. To the Editor of the Dispatch. We have again been visited by a cold wave which we trust is now broken and hope for better weather in the future. There is still a chance for fruit which is encouraging in 01 r community. The Exchange Bank and effects were sold last Friday at private sale to C. W. Sollee for $2,400. Tl e amount will be only a small per cent. for the unlucky creditors, as the liabilities was largely in excess of the sum realized. The sale of the Batesburg Cotton Mill Saturday was quite an event and attracted a large crowd. It was sold by W. A. Watts of Laureus. as Receiver. It only brought $17,800, which was less than half the cost. It is a severe blow to the people here. and much regretted by them. It was bought by the Georgia Railroad Bank of Augusta, that bank bein g the largest creditor. It is not known yet what they are going to do with it, but it may yet be bought back by our people and run as a Batesburg enterprise. At all events we trust that it will soon be put in condition and operated by some party as such will benefit the town. Among the prominent men here at the sale I note Maj. Meetze of Lexington, W. A. Clark, Esq, of Columbia, Leonard Phinezy, Esq., of Augusta, N. B. Dial, Esq, of Laurens and others. Rev. J. Walter Dickson, Presiding Elder of the M. E. Church South, preached here yesterday. He announced Quarterly Meeting at Concord church, near here next Sunday. At a meeting of the Baptist Young People's Union yesterday, the Rev. T. R. Corr, Hugh O'Neal and Cortez Cullum were elected as delegates to the State Convention of the B.Y.P.U., at Orangeburg, S. C. Rev. John Lake has accepted the call of the Mt. Ebal church and assumed the pastoral charge of that church Saturday. and says he is well pleased with the saints of that favored locality. They were exceedingly fortunate in securing the services of such 8 consecrated young man and one of such ability as a preacher. OCCASIONAL. March 23, 1896.