Bank of the State - Charleston, SC

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: April 20, 1869
Location: Charleston, South Carolina (32.777, -79.931)

Metadata

Model: gpt-5-mini
Short Digest: 549308a5

Response Measures

None

Description

No run or depositor panic is mentioned. Court action led to appointment of a receiver and assets placed under custody of the court (April 1869), consistent with a suspension followed by closure/receivership.

Events (3)

1. April 20, 1869 Suspension

Cause: Government Action
Cause Details: Court proceedings: motion before Judge Carpenter for appointment of a receiver and judicial custody of assets.
Newspaper Excerpt: On Wednesday (to morrow) we learn that a motion will be made before Judge Carpenter for the appointment of a receiver for the assets of the Bank of the State.
Source: newspapers

2. April 22, 1869 Other

Newspaper Excerpt: By the order of Chancellor Lesesne, the assets of the bank were placed in the hands of the President and Cashier of the bank, to hold the same under the authority and as the custodians of the court. Yesterday, Mr. Attorney-General Chamberlain, moved before Judge Carpenter for the appointment of a receiver of all the assets and other property of the bank, ... After the argument of counsel, the court reserved its decision.
Source: newspapers

3. April 24, 1869 Receivership

Newspaper Excerpt: Judge Carpenter, yesterday, in this case granted the order moved for by Attorney-General Chamberlain, and appointed W. O. Courtney, Esq., receiver of all the real and personal estate, assets and choses of action of the corporation known as the President and directors of the Bank of the State of South Carolina, upon his entering into bonds ... and directed him to hold the estate subject to the order of the Court.
Source: newspapers

Newspaper Articles (3)

1. April 20, 1869 The Charleston Daily News Charleston, SC

Article from The Charleston Daily News, April 20, 1869

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Article Text

# THE BANK OF THE STATE. - On Wednesday (to morrow) we learn that a motion will be made before Judge Carpenter for the appointment of a receiver for the assets of the Bank of the State. It is supposed that a long argument will ensue thereon.

2. April 22, 1869 The Charleston Daily News Charleston, SC

Article from The Charleston Daily News, April 22, 1869

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Article Text

# THE CASE OF THE BANK OF THE STATE.-In this case there are three classes of claimants upon the funds: 1st. The foreign holders of the bonds, issued by the State and guaranteed by the bank. 2d. The holders within the United States of the bonds and stock. 3d. The billholders, who have not funded their claims, and accepted bonds of the State in satisfaction of their demands. The questions relate to the priority of these claims upon the assets, or whether they are to be proportionally paid. By the order of Chancellor Lesesne, the assets of the bank were placed in the hands of the President and Cashier of the bank, to hold the same under the authority and as the custodians of the court. Yesterday, Mr. Attorney-General Chamberlain, moved before Judge Carpenter for the appointment of a receiver of all the assets and other property of the bank, and that the receiver so appointed do give bond with securities to be approved by the court, to receive, hold and keep the real and personal estate, choses in action and books of account of the bank, and account therefor under the orders of the court. After the argument of counsel, the court reservel its decision.

3. April 24, 1869 The Daily Phoenix Columbia, SC

Article from The Daily Phoenix, April 24, 1869

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Article Text

# THE CASE OF THE BANK OF THE STATE. - Judge Carpenter, yesterday, in this case granted the order moved for by Attorney-General Chamberlain, and appointed W. O. Courtney, Esq., receiver of all the real and personal estate, assets and choses of action of the corporation known as the President and directors of the Bank of the State of South Carolina, upon his entering into bonds, with approved sureties, in the sum of $30,000, and directed him to hold the estate subject to the order of the Court. [Charleston Courier.