19890. Farmers & Merchants Bank (Camden, SC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 17, 1903
Location
Camden, South Carolina (34.247, -80.607)

Metadata

Model
gpt-5-mini
Short Digest
4882fef6

Response Measures

None

Description

Two senior officers (president accidentally killed; cashier suicide) precipitated immediate suspension of business. Board executed an assignment to receivers (E. S. Vaux and A. D. Kennedy) to pay creditors. No run is described in the articles; suspension led to receivership/closure.

Events (3)

1. November 17, 1903 Other
Newspaper Excerpt
BUSINESS SUSPENDED.
Source
newspapers
2. November 18, 1903 Receivership
Newspaper Excerpt
the deed of assignment executed at once. In hands of receivers. Farmers and Merchants Bank of Camden to Pay all Debts.
Source
newspapers
3. November 18, 1903 Suspension
Cause Details
Sudden deaths of the president and cashier caused serious interruption to business; board assigned assets to receivers to administer and pay creditors.
Newspaper Excerpt
IN HANDS OF RECEIVERS. Farmers and Merchants Bank of Camden to Pay all Debts. ...we do hereby resolve and determine for the best interest of all creditors ... to make an assignment of all the property, securities and credits of the bank to E. S. Vaux and A. D. Kennedy to be administered for the equal benefit of all creditors...
Source
newspapers

Newspaper Articles (2)

Article from The Herald and News, November 20, 1903

Click image to open full size in new tab

Article Text

TWO BANK OFFICIALS MEET VIOLENT DEATHS. PRESIDENT KILLS HIMSELF ACCIDENTALLY, CASHIER SUICIDES. A Sad Double Tragedy In Camden Which Shocked the Whole State. Bank Assigns. Mr. E. Miller Boykin. president of the Farmers and Merchants bank of Camden, accidentally shot and killed himself on Monday afternoon, and a few hours later Mr. E. C. Zemp, cashier of the same bank, had committed suicide. Mr. Boykin left his office at the Farmers and Merchants Bank a few minutes before 3 o'clock, chatted pleasantly with several friends before getting in his buggy and starting home. After reaching home he picked up his gun, which has a rather treacherous reversible action and went out to shoot a hawk. The supposition is that as he started to climb a fence he set the gun over the fence at the same time making a motion to get over him self, when the gun was discharged, the load taking effect in his chest. He fell backwards, while the gun was found leaning on the opposite side of the fence. Mrs. Boykin sent a servant boy, Willie Richardson, out to find Mr. Boykin, and he soon returned and told the condition in .which he found Mr. Boykin. His nephew, Mr. John Cantey, who was at the house, ran to where he was and found him dead. Ajury of inquest was empanelled and rendered a verdict of accidental killing. the most Mr. Boykin was one prominent citizens of Camden and well known throughout the State He was president of the DeKalb cotton mill, and a number of other enterprises. He was chosen a member of the legislature in 1880, was United States Marshal at Charles ton under Cleveland, and had held other positions of honor. He was kind-hearted, generous and a true gentleman, and his untimely death carried profound sorrow to scores of hearts throughout the State. He is survived by a wife and one son. SUICIDE OF CASHIER ZEMP. A few hours after the accidental killing of President Boykin, the little city of Camden was well-nigh paralyzed by the suicide of Mr. E. C Zemp, cashier of the same bank. Mr. Zemp was found dead in his barn with a pistol ball in his mouth. Shortly after receiving the news of the death of Mr. Boy. kin, Mr. Zemp left his home, osten sibly to go over to Mr. Boykin's, nearby, but instead went to his barn and committed suicide. Few men were held in higher esteem than was E. C. Zemp, and his tragic death is a great shock to his family and friends. BUSINESS SUSPENDED.


Article from The Watchman and Southron, November 25, 1903

Click image to open full size in new tab

Article Text

ADVERTISEMENT: $1 CO Jae Square first insertion 50 Every subsequent insertion Contracts for three months, or longer will 08 made at reducedrates. All communications which subserve private interests will be charged for as advertiements. Obituaries and tributes of respects will be charged for. IN HANDS OF RECEIVERS. Farmers and Merchants Bank of Camden to Pay all Debts. Special to The State. Camden, Nov. 18.-At a meeting of the board of directors of the Farmers and Merchants bank, the following action was taken: "Having, with the aid of two able experts, examined all of the available records, books, papers and accounts found in the bank vault, the result of which satisfies the board that the assets and securities of the bank are sufficient eventually to meet all its legal obligations and to pay all depositors and other creditors, but in view of the serious interruptions caused to its business by the calamitiy which has occurred, the lack at this time of an available person willing to assume the duties of president and in the further condition which exists that some time will be necessary to convert the assets into casb, we do hereby resolve and determine for the best interest of all creditors under the circumstances to make an assignment of all the property, securities and credits of the bank to E. S. Vaux and A. D. Kennedy to be administered for the equal benefit of all creditors, according to law." This resolution was signed by the entire board of directors and the deed of assignment executed at once.