19883. Bank of Calhoun Falls (Calhoun Falls, SC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 20, 1914
Location
Calhoun Falls, South Carolina (34.092, -82.596)

Metadata

Model
gpt-5-mini
Short Digest
22897fec

Response Measures

None

Description

The bank closed its doors in October 1914 and a receiver was appointed; multiple articles describe receivership, asset sale and criminal charges against the former cashier. No run is described in the articles. Closure appears permanent (receivers, decree of sale, assets marketed in 1916). 'State bank examiner' language implies a state-chartered bank.

Events (3)
1. October 20, 1914 Receivership
Newspaper Excerpt
S. J. Hester ... was named as receiver. ... It is understood that the assets of the institution exceed the liabilities by about $3,000 and the directors have agreed that the depositors shall be paid every cent they had in the bank when business was suspended.
Source
newspapers
2. October 20, 1914 Suspension
Cause
Government Action
Cause Details
Petition filed by a stockholder/creditor and action by state bank examiner/court due to inability to secure ready money and alleged imminent insolvency.
Newspaper Excerpt
The Bank of Calhoun Falls ... was placed in the hands of a receiver by Judge S. W. G. Shipp, presiding judge at Greenville, on yesterday, October 20th, 1914.
Source
newspapers
3. February 1, 1916* Other
Newspaper Excerpt
By authority of a Decree of sale of the Court of Common Pleas ... we will offer for sale ... a brick bank building. ... S. J. Hester and H. W. Lawson, Receivers for the Bank of Calhoun Falls. Jan. 1st, 1916.
Source
newspapers

Newspaper Articles (13)
1. October 21, 1914 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, October 21, 1914

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Article Text

BANK OF CALHOUN FALLS CLOSES. Placed in Hands of Receiver Yesterday. The Bank of Calhoun Falls, South Carolina. was placed in the hands of a receiver by Judge S. W. G. Shipp, presiding judge at Greenville, on yesterday, October 20th, 1914. The petition was filed by A. O. Grant, a stockholder and creditor of the bank, alleging that on account of the flnancial stringency the bank was unable to secure ready money with which to carry on its business and that it closed its doors and was unable to resume business. The complaint also alleged that the bank was in imminent danger of insolvency. The bank answered the petition denying its insolvency and alleging its ability to pay its debts, but admitted its inability to continue its banking business of the reasons alleged, and it therefore consented that a receiver be appointed to take charge of its affairs. Mr. S. J. Hester, of Calhoun Falls, South Carolina, was named as receiver. The petitioning creditor was represented by William P. Greene and the bank by D. H. Hill. It is believed from information gathered that all creditors of the bank will be paid in full. Under the law of this State making stockholders liable to depositors to the extent of 100 per cent. on the capital stock in addition, to the capital stock, all depositors will be paid in full. The deposits amount to about fourteen thousand dollars.

2. October 28, 1914 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, October 28, 1914

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Calhoun Falls. Calhoun Falls, S. C., Oct. 24, 1914. D. H. Hill, of Abbeville, was a business visitor to our city last week. Mr. and Mrs. Eugene returned to their home last Sunday, after spending a week with Mrs. Cowan. Hon. D. H. Magill, of Greenwood, spent Sunday and Monday in the city, the guest of his sister, Mrs. N. J. Tucker. Mrs. Rogers, who has been visiting her sister Mrs. Cox, returned to her home in Anderson this week, Misses Lillian Burris and Vera Martin attended the singing convention in Georgia last Sunday. Mr. J. Will Tucker went to Anderson last Sunday on business. Mr. and Mrs. Ben Cowan returned to t heir home in Hamlet, N. C., last Saturday. Mrs. Hardy and Miss Dickerson returned to their home in Atlanta last Wednesday. Miss Florence Black went to Elberton Tuesday. Mrs. R. S, B. Martin and little Miss Helen Martin were in Abbeville this week. Ollie Tucker went to Elberton last Tuesday. Died.-Mrs. J. L. Hancock died. at her home last Wednesday morning at three o'clock, after a lingering illness of over a year. She leaves a husband and several children. Her body was carried to Greenwood for burial. The family has our sympathy Mr. William N. Graydon, Jr., was a business visitor to our city last Monday. In the Magistrate's Court there was tried before Dr. Hicks, Luo Martin, an old negro, for disposing of property under mortgage. After testimony was in for both sides, Dr. Hicks deelared the negro guilty and put a fine of $10 or thirty days at hard labor on the roads. His case was appealed. William Graydon for defendant and D. H. Magill for the State. Mrs. J. W. Burriss and daughter went down to Augusta last Tuesday to attend the State Fair. Born.-October 16, to Mr. and Mrs. Charley Manning, a daughter. The Bank of Calhoun Falls has closed doors by order of the board of directors. It is stated that depositors will be paid in full. Mrs. J. V. Tate is visiting friends and relatives in Atlanta this week. Miss Susie Goldenberg has issued invitations to a Hallowe'en party, to be given at the home of Mrs. H. Weinraub, Friday evening, Oct. 30. Mrs. Andrew Scott, of Georgia, spent last Friday and Saturday with Mrs. Poore Miss Carey Poore went to Abbeville last Saturday. At a special meeting of the Depositors of the Bank of Calhoun Falls, Saturday, S. J. Hester was appointed receiver to look after the affairs of the bank and to pay off the depositors. Dr. Tate was. elected Chairman and. Wilton Burford Secretary. It was stated that at least one-half of the, amount of the deposits would be paid in about forty days. Mr. and Mrs. W. P. Harrison went to Greenwood last Wednesday to attend Mrs. Hanconck's funeral. Rev. S. M. Jones went to Greenwood last Wednesday to officiate at Mrs. Hancock's 7 O. N. T. funeral.

3. November 20, 1914 The Anderson Daily Intelligencer Anderson, SC
Article from The Anderson Daily Intelligencer, November 20, 1914

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Receiver P. E. Clinkscales of Anderson Appointed Co-Receiver With S. J. Hester for Bank. P. E. Clinkscales, cashier of the Bank of Anderson, has been appointed by Judge Thomas S. Sease, presiding over court at Laurens, as one of the co-receivers for the Bank of Calhoun Falls. This institution closed its docrs on October 19 and on October 20 S. J. Hester of Hester's Station, president of the bank, was named as receiver and appointed by Judge S. W. G. Shipp. However, some of those interested in the matter desired that Mr. Clinkscales assist and he was therefore appointed. It is understood that the assets of the institution exceed the liabilities by about $3,000 and the directors have agreed that the depositors shall be paid every cent they had in the bank when business was suspended.

4. December 2, 1914 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, December 2, 1914

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Calhoun Falls. Calhoun Falls, Nov. 27th. DR. AND MRS. HICKS ENTERTÁIN. Dr. and Mrs. Hicks entertained a few of their friends at a very elegant Thanksgiving dinner last Thursday, Those present were: Dr. and Mrs. J. V. Tate, I Mr. and Mrs. Jno. G. Carlisle, and Mrs. Crson. The house was beautifully decorated for the occasion, and a very pleasant day was spent by the guests. Calhoun Falls, Nov. 30th. Miss Susie Goldenberg was in Abbeville last Monday. Mrs. J. V. Tate went to Elberfon last, week to visit week to visit relatives. Mr. John Wardlaw, of Mt. Carmel, was in our city last Monday. Mr. Morrow, of Mt. Carmel, was in town last week. Mr. P. E. Clinkscales, of Anderson, has been appointed co-receiver for the Bank of Calhoun Falls. Mr. Monroe Burriss was in Abbeville last Wednesday. Mr. H. T. Lyon, of Anderson, passed through our city last Thursday on his way to Abbeuille to visit his parents, Mr, and Mrs. C. J. Lyon. Mr. C. J. Lyon passed through our city last Friday on his way to Augusta. Misses Bessie Cox and Vara Martin were in Abbeville last Saturday :attending the Sunbeam Society. Mrs. R. S. B. Martin was in Abbeville last Friday. Mrs. Furman Milford went to Abbeville last Saturday. Mrs. S. A. Wakefield went to Abbeville last Saturday. Miss Bessie Cox entertained [the members of the B. Y. W. A. last Friday evening. Rev. Mr. Jones is attending the Methodist Conference. Born-To Mr. and Mr5 M. E. Gambrell Nov. 29th, a daughter. Mrs. Farrow, of Fountain Inn, arrived in our city Sunday, and will spend a while with her daughter, Mrs. Gambrell. Two white men, pretending to be cripples and detectives, were in our town last Thursday and wanted to buy some whis key. They went to a certain man and gave him fifty cents to get them a pint 0 corn. Soon the package was forthcoming and the two left town to get their whiskey and to their surprise they found a bottle full of shelled corn. They came back into town, got them something to eat and left for parts unknown. It has been raining here since last Sat e urday morning and this weather is putting r the farmers to great inconvenience. y Thanksgiving Day was spent very quiet SS ly here, some of the young folks going ou hunting, while others went horseback rid e ing. Mr. Ed Cowan, of Hamlet, N. C., spen Sunday with his wife and mother. The Special War Tax goes into effect De cember 1st. All packages shipped fron 0 here will have to have a One Cent War Ta 8 stamp on it. Mr. W. R. Bradley, Revenue Tax Col lector, was in our town last week.

5. April 24, 1915 The Anderson Daily Intelligencer Anderson, SC
Article from The Anderson Daily Intelligencer, April 24, 1915

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CHARGE OF FORGERY AGAINST EX-CASHIER W. J. Tucker is Placed in Abbeville County Jail on Warrant. Arrested on a warrant charging forgery, W. J. Tucker, formerly cashier of the Bank of Calhoun Falls, has been arrested and loNged in the county jail at Abbeville. The allegation set out in the warrant is that he forged the name of J. C. McCord to a note for $650 which was found in the bank of Calhoun Falls. Mr. McCord, denies any knowledge of the note. It will be recalled that the doors of the Calhoun Falls bank were closed by a state bank examner several months ago, that S. J. Hester, presiden of the institution was named as recever, and that Mr. P. E. Clinkscales of Anderson was later named as co-receiver. It will be recalled that Mr. Tucker, left for parts unknown shortly before the doors of the bank were closed, and that he left a deed, drawn by attorneys in Abbeville, giv-, ing title. to considerable property in the town of Calhoun Falls to the bank to cover his shortage, which he nrst estimated at $8,000. Later he raised this mount by $1,000, and later developments showed that his shortage was approximately $17,000. In arranging the matter to the satisfaction of the state bank examiner four directors of the bank-S. J. Hester, C. H. Taylor, A. A. Grant and H. H. Hester-guarantee. to the examiner against all loss resulting from mismanagement or misconduct on the part of Tucker. These four gentlemen, it is understood, made their guarantee believing that Tucker had made a clean breast of his conduct, and that the $17,000 cover his entire shortage. The alleged forgery notes were not taken into account, the four directors believing them to be genuine and all right. It is understood that several questionable notes are held in the bank at Calhoun Falls; that the McCord note is only the first where forgery is suspected and charged. It is understood, further, that other warrants will be sworn out against Tucker.

6. April 28, 1915 Keowee Courier Walhalla, Pickens, SC
Article from Keowee Courier, April 28, 1915

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CHARGE OF FORGERY IS MADE. Cashier of Calhoun Falls Bank Said to Be Short $17,000. Anderson, April 23-W.J. Tucker, former cashier of the Bank of Calhoun Falls, has been arrested on a warrant charging forgery and has been lodged in the county jail at Abbeville. The specific charge, as set forth in the warrant, is that he forged the name of J. A. McCord on a note found in the bank at Calhoun Falls. The amount of the note is $650. It is understood that Mr. McCord denies any knowledge of the note. It will be recalled that the doors of the Calhoun Falls bank were closed by the State Bank Examiner several months ago; that S. J. Hester, president of the bank, was named as receiver, and that P. E. Clinkscales, of Anderson, was later named as a receiver. Mr. Tucker left for parts unknown shortly before the doors of the bank were closed, and he left a deed. drawn by attorneys in Abbeville, giving title to considerable property in the town of Calhoun Falls to the bank to cover his shortage, which he first estimated at $8.000. Later he raised this amount by $1,000, and still later developments showed that his shortage was approximately $17,000.

7. April 28, 1915 The Laurens Advertiser Laurens, SC
Article from The Laurens Advertiser, April 28, 1915

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IS CHARGED WITH FORGERY. Former Cashier of Bank of Calhoun Falls. Anderson, April 23.-W. J. Tucker, former cashier of the Bank of Calhoun Falls, has been arrested on a warrant charging forgery and has been lodged in the county jail at Abbeville. The specific charge, as set out in the warrant, is that he forged the name of J. A. McCord on a note found in the bank at Calhoun Falls. The amount of the note is $650. It is understood that Mr. McCord denies any knowledge of the note. It will be recalled that the doors of the Calhoun Falls bank were closed by a state bank examiner ceveral months ago, that S. J. Hester, presient of the institution was named as receiver, and that Mr. P. E. Clinkscales of Anderson was later named as co-receiver. It will be recalled that Mr. Tucker left for parts unknown shortly before the doors of the bank were closed, and that he left a deed, drawn by attorneys in Abbeville, giving title to considerable property in the town of Calhoun Falls to the bank to cover his shortage, which he first estimated at $8,000. Later he raised this amount by $1,000, and later developments showed that his shortage was approximately $17,000. In arranging the matter to the satisfaction of the state bank examiner four directors of the bank-S. J. Hester, C. H. Taylor, A. A. Grant and H. H. Hester-guaranteed to the examiner against all loss resulting from mismanagement or misconduct on the part of Tucker. These four gentlemen, it is understood, made their guarantee believing that Tucker had made a clean breast of his conduct, and that the $17,000 cover his entire shortage. The alleged forgery notes were not taken into account, the four directors believing them to be genuine and all right. It is understood that several questionable notes are held in the bank at Calhoun Falls; that the McCord note is only the first where forgery is suspected and charged. It is understood, further, that other warrants will be sworn out against Tucker. Tucker is well known in this city as are the four directors who have made the guarantee to the state bank examiner. Mr. S. J. Hester, president of the defunct institution is well known and has many friends here.

8. May 12, 1915 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, May 12, 1915

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State of South Carolina, ABBEVILLE COUNTY. Court of Common Pleas. A. O. Grant, on behalf of himself and of the other creditors of the Bank of Calhoun Falls, Plaintiff, against Bank of Calhoun Falls, S. W. Johnson, Thomas H. Russell, N. B. Sullivan, C. S. Sullivan. J. R. West, S. J. Hester, D. H. Hill, Receiver ; Mrs. Massey K. Russell, William B. Kable, Gertrude B. Seeley, H. H. Hes ter, Charles H. Taylor, Louis J. Bristow, and Gilpin Wilson, Defendants. Summons for Relief. To the Defendants above named : You are hereby summoned and required to answer the Amended Complaint in this case, which was filed in the office of the Clerk of Court of Common Pleas for the County of Abbeville, at Abbeville, South Carolina, on May 11th, A. D. 1915, and to serve a copy of your answer on the subscriber at his office at Abbeville, South Carolina, within twenty days after the day of service hereof, exclusive of the day of such service; and if you fail to answer the complaint within the time aforesaid, the plaintiff in this case will apply to the Court for the relief demanded in the complaint. Wm. P. Greene, Plaintiff's Attorney. 3t May 11th, 1915.

9. May 19, 1915 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, May 19, 1915

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CALHOUN FALLS The election on the 14th inst. for warden to fill the unexpired term of M. D. Helms, resigned, resulted in the election of J. J. George. Mr. P. E. Clinkscales, one of the receivers of the Bank of Calhoun Falls, was in town on the 13th inst. and informed the writer that in a few days a divident of fifty per cent would be paid to the depositors. Mr. J. W. Rykard, a well known horologist, formerly of Abbeville, is now located in business at Hesters. Mrs. M. C. Baker returned home on the 10th from a visit of several weeks duration to friends and relatives in Charleston and Sumter. Dr. Banks has in his drug store a fine display of cacti in full bloom, a rare and beautiful sight, and one well worth a visit of inspection. Mrs. F. E. Cowan lately returned home from a visit of several days to her son in Augusta, Ga. Miss Norwood Baker is paying a visit to Miss Hester at Mt. Carmel. Mr. C. J. Bruce, Deputy United States Marshal (elect) was in town a few days during the past week. C. E. Williamson and Miss Chadwell, of Abbeville, passed through town on the 14th, automobiling to Mt. Carmel. Mrs. W. J. Blake visited in Greenwood on the 13th. Dr. Banks paid a visit to his parents at Plum Branch on the 12th. Among those visiting Abbeville during the past week were: W. F.. Anderson, M. E. Gambreil. J. T. Black, Stanley Jones, G. O. Hall, Dr. Banks, Clyde Grant and F. B. Milford.

10. May 19, 1915 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, May 19, 1915

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State of South Carolina ABBEVILLE COUNTY. Court of Common Pleas. A. O. Grant. on behalf of himself and of the other creditors of the Bank of Calhoun Falls, Plaintiff, against Bank of Calhoun Falls, S. W. Johnson Thomas H. Russell, N. B. SulDwarez C. S. Sullivan. J. R. West, Hester. D. H. Hill, Receiver: Minus Massey K. Russell. William E. In ble. Gertrude B. Seeley, H. H. Elen ter. Charles H. Taylor. Louis: y Bristow, and Gilpin Wilson Dr fendants. Summons for Relief: To the Defendants above named You are hereby summoned and IX:quired to answer the Amended Chessplaint in this case, which was filed? XI the office of the Clerk of Court of Chenmon Pleas for the County of Abbevide at Abbeville. South Carolina, on Nov 11th, A. D. 1915, and to serve a copy nt your answer on the subscriber at his fice at Abbeville, South Carolina, WITH in twenty days after the day of service NET hereof. exclusive of the day of such vice: and if you fail to answer the 11:21 plaint within the time aforesaid, plaintiff in this case will apply co, No Court for the relief demanded in an complaint. Wm. P. Greeme Plaintiff's Attorney 3th May 11th, 1915.

11. January 5, 1916 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, January 5, 1916

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STATE OF SOUTH CAROLINA, COUNTY OF ABBEVILLE, Court of Common Pleas. A. O. Grant, etc., Plaintiff, against The Bank of Calhoun Falls, Defendant. By authority of a Decree of sale of the Court of Common Pleas, for the County of Abbeville, we will offer for sale at Public Outcry, at Abbeville C. H., S. C., on Salesday in February, 1916, within the legal hours of sale the following described property, to wit: All that lot or parcel of land situate, lying and being in the Town of Calhoun Falls, on the North East Corner of Cox Avenue, fronting 25 feet on said avenue, and running back on Seneca Street one hundred and thirty feet and being known as Lot No. 50 in Block 2 of the town of Calhoun Falls, and having situate thereon a brick bank building. Also, one large bank safe and other fixtures and personal property, an inventory of which will be presented at the sale. TERMS OF SALE:-CASH. Purchaser to pay for the papers and stamps. S. J. Hester and H. W. Lawson, Receivers for the Bank of Calhoun Falls. Jan. 1st, 1916.

12. January 12, 1916 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, January 12, 1916

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STATE OF SOUTH CAROLINA, COUNTY OF ABBEVILLE, Court of Common Pleas. A. O. Grant, etc., Plaintiff, against The Bank of Calhoun Falls, Defendant. By authority of a Decree of sale of the Court of Common Pleas, for the County of Abbeville, we will offer for sale at Public Outcry, at Abbeville C. H., S. C., on Salesday in February, 1916, within the legal hours of sale the following described property, to wit: All that lot or parcel of land situate, lying and being in the Town of Calhoun Falls, on the North East Corner of Cox Avenue, fronting 25 feet on said avenue, and running back on Seneca Street one hundred and thirty feet and being known as Lot No. 50 in Block 2 of the town of Calhoun Falls, and having situate thereon a brick bank building. Also, one large bank safe and other fixtures and personal property, an inventory of which will be presented at the sale. TERMS OF SALE:-CASH. Purchaser to pay for the papers and stamps. S. J. Hester and H. W. Lawson, Receivers for the Bank of Calhoun Falls. Jan. 1st, 1916.

13. March 15, 1916 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, March 15, 1916

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# MASTER'S SALE The State of South Carolina, County of Abbeville. Court of Common Pleas. S. J. Hester and H. W. Lawson, as Receivers of the Bank of Cal- houn Falls, against Edward Keiser, Marjorie Bullick and others.