19946. Nickel Savings Bank (Charleston, SC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
August 1, 1893
Location
Charleston, South Carolina (32.777, -79.931)

Metadata

Model
gpt-5-mini
Short Digest
92805adc

Response Measures

None

Description

Multiple contemporaneous newspaper reports (Aug 1, 1893) state the Nickel Savings Bank assigned (made an assignment) — i.e., closed and placed in the hands of assignees/receiver. No article describes a depositor run. Deposits reportedly only $5,000 and will be paid in full. Classified as suspension leading to closure/receivership.

Events (2)
1. August 1, 1893 Receivership
Newspaper Excerpt
The Nickel Savings Bank assigned to-day; liabilities, $20,000; nominal assets, $41,000.
Source
newspapers
2. August 1, 1893 Suspension
Cause Details
Bank made an assignment (closed and placed in hands of assignees/receiver); no run reported.
Newspaper Excerpt
The Nickel Savings Bank assigned to-day; liabilities, $20,000; nominal assets, $41,000. The deposits amount to $5,000 only, and will be paid in full.
Source
newspapers

Newspaper Articles (8)
1. August 2, 1893 The Times Richmond, VA
Article from The Times, August 2, 1893

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Article Text

More Bank Failures. WHATCOM, WASH., August 1.-BelHngham Bay National Bank did not open its doors yesterday; assets, $270,000; liabilities, $160,000. The bank will probably resume business in a short time. ASTORIA, OREGON, August 1.-The private bank of I. W. Case closed its doors yesterday. CHARLESTON, S. C., August 1.-The Nickel Savings Bank assigned to-day; liabilities, $20,000; nominal assets, $41,000. The deposits amount to $5,000 only, and will be paid in full. FARMVILLE, VA., August 1.-Special. Commercial Bank, with R. M. Dickinson president, and John H. Knight cashier, closed its doors here to-day, making an assignment to W. P. Venable, who will close up its affairs. There are many small losers here in this town. In some instances all the savings of hard working men are gone, although it is rumored that the bank may pay fifty or sixty cents upon the dollar to depositors. The liabilities are supposed to be over $50,000.

2. August 2, 1893 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, August 2, 1893

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Article Text

E'ectric Brevities. The private bank of 1. W. Case. Astoria, Ore., closed its doors Monday. The Right Rev. Joseph Rademacher. D. D., Bishop of Nashville. Tenn., has been appointed Archbishop of Fort Wayne, Ind. The Nicke! Savings Bank. Charleeton, S. C., assigned yesterday. Liabilities, $20,000: nominal assets, $41,000. The deposits amount to $5.000 only, and will be paid in full. The Bellingbam Bay National Bank, Whatcom, Wash., did not open its goors Monday. Assets, $270.000; liabilities. $160,000. The bank will probably resume business in a short time. The top of the cabin of the schooner Charles has drifted ashere as Hatteras. N. C.; also, at Kennekot. N. C.. the body of a man wrapped in a small standing jib. It couldn't be identified. but is supposed to be that of Captain Ireland, of the Charles. The body of an unknown woman was found hanging to a peach-tree in Inman Park, one of the swe'l residence suburbs of Atlants, yesterday. The person bad committed suicide and left. no trace of her identity. Later it was ascertained thu. the suicide was Luia brown, of Redan. us. No cause is known for her saltmurder. It is surmisod that it was due to failure to secure a situation. A mass-meeting of the business-mon of Birmingham. Ala., was hold yesterday for the parpose of taking action on the repeal of the sher. man silver-purchase law. the movers of the meeting being promineus business-men who laver repeal. Congressman Banthead, bowever, delivered a red-hot tree-alver speech, and the meeting wound up with the passage of a resolution expressing conditence in the wisdom and ability of Alabama's representativos to meet the isaue.

3. August 2, 1893 New-York Tribune New York, NY
Article from New-York Tribune, August 2, 1893

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Article Text

BANKS CLOSE THEIR DOORS. COMPARATIVELY INSIGNIFICANT CONCERNS WITH SMALL ASSETS AND LIABILITIES. Steubenville, Ohio, Aug. 1 (Special).-The Toronto Banking Company, at Toronto, this county, suspended this morning, and Robert M. Francy was appointed receiver. The bank has securities sufficient to pay depositors, but could not realize enough cash to meet daily demands. The assets are $80,000 and the liabilities $50,000. The suspension of the Toronto Pottery Company was precipitated by the suspension of the banking company. J. McClave was appointed receiver. Its assets are $90,000 and the liabilities about the same. Whatcom, Wash., Aug. 1.-The Bellingham Bay National Bank did not open its doors yesterday morning. Its temporary suspension was caused by the constant withdrawal of deposits for the last ninety days. The assets are $270,000, and the liabilities $160,000. The officers expect to resume in a short time. St. Paul, Minn., Aug. 1.-The Seven Corners Bank, in this city, a State Institution with $100,000 capital, made an assignment this afternoon. It is the first bank failure in St. Paul in more. than a year, and is not believed to be a bad one. The bank was comparatively weak, but its failure will not affect any other banks in this city, as all are in first-class condition. Charleston, S. C., Aug. 1.-The Nickel Savings Bank made an assignment to-day. The Habilities are $20.000, and the nominal assets $41,000. The deposits amount to only $5,000 and will be paid in full. Astoria, Ore., Aug. 1.-The private bank of I. W. Case closed its doors yesterday morning on account of the constant withdrawal of deposits. It is said that the depositors will be paid in full.

4. August 2, 1893 The Morning News Savannah, GA
Article from The Morning News, August 2, 1893

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Article Text

A Nickel Bank Goes Under. Charleston, S.C., Aug. 1,-The Nickel Savings Bank assigned to-day with liabilities of $20,000 and nominal assets of $41,000. The deposits amount to $5,000 only and will be paid in full.

5. August 2, 1893 The Sun New York, NY
Article from The Sun, August 2, 1893

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Article Text

More Banks Suspend. ST. PAUL. Aug. 1.-The Seven Corners Bank in this city, a State institution with $100,000 capital. assigned this afternoon. The bank was comparatively weak. but its failure will not affect any other banks in this city. all being in first-class condition. WHATCOM. Wash.. Aug. 1.-The Bellingham Bay National Bank did not open its doors yesterday morning. Temporary suspension was caused by the constant withdrawal of deposits for the past ninety days. The assets are $270,000: liabilities. $160,000. The bank officers expect to resume in a short time. ASTORIA. Or., Aug. 1.-The private bank of I. W. Case closed its doors yesterday morning on account of the constant withdrawai of deposits. The depositors will be paid in full. CHARLESTON. S.C., Aug. 1.-The Nickel Savings Bank assigned to-day: liabilities. $20.000: nominal assets. $41,000. The deposits amount to $5,000 only and will be paid in full.

6. August 4, 1893 The Weekly Union Times Union, SC
Article from The Weekly Union Times, August 4, 1893

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Article Text

A CHARLESTON SAVINGS BANK FAILS.— Charleston, S C., August 1.-The Nickel Savings Bank assigned today. Liabilities, $20,000 ; nominal assets, $41.000. The deposits amount to $5,000 only, and will be paid in full.

7. August 4, 1893 The Weekly Union Times Union, SC
Article from The Weekly Union Times, August 4, 1893

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Article Text

A CHARLESTON SAVINGS BANK FAILS.Charleston, S C., August 1.-The Nickel Savings Bank assigned today. Liabilities, $20,000 ; nominal assets, $41.000. The deposits amount to $5,000 only, and will be paid in full.

8. August 8, 1893 The Progressive Farmer Raleigh, Winston-Salem, Winston, NC
Article from The Progressive Farmer, August 8, 1893

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Article Text

CHARLESTON, S C., Aug. 1.-The Nickel Savings Bank assigned to day. The liabilities are $20,000, nominal as sets $41,000. The deposits amount to $5,000 only and will be paid in full.