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South Carolina. TWO SUSPENSIONS IN CHARLESTON. NEW YORK, Sept. 26. The Peoples' Bank and the South Carolina Loan and Trust Company, in Charleston, have suspended.
19966. South Carolina Loan & Trust Company (Charleston, SC)
Bank Information
- Episode Type
- Suspension → Reopening
- Bank Type
- trust company
- Start Date
- September 26, 1873
- Location
- Charleston, South Carolina (32.777, -79.931)
Metadata
- Model
- gpt-5-mini
- Short Digest
e0496dd3
Response Measures
None
Description
Multiple contemporary dispatches (dated Sept 26, 1873) report the South Carolina Loan & Trust Company suspended currency payments as part of widespread bank suspensions during the Panic of 1873. No article mentions a depositor run, receivership, or permanent closing; reports reference partial/temporary suspensions (some explicitly thirty days). Classification: suspension with no run; likely temporary suspension tied to the national financial crisis (macro news).
Events (1)
1.
September 26, 1873
Suspension
- Cause
- Macro News
- Cause Details
- Suspended currency payments amid the nationwide financial panic of late September 1873 (Panic of 1873); contemporaneous reports describe partial/30-day suspensions and general lack of currency/exchange facilities across cities.
- Newspaper Excerpt
- The South Carolina Loan and Trust Company, in Charleston, have suspended.
- Source
- newspapers
Newspaper Articles (10)
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THE FINANCIAL CRISIS, NEW YORK. NEW YORK, September 26.-Twentyfour hours' notice is to be given before the stock exchange opens. The Sun says that Adams express company has carried daily to the interior $1,500,000, and the United States express company has been carrying out about $500,000 daily. NEW ORLEANS. NEW ORLEANS, September 25.-The banking houses have joined in an address giving the reasons for partial suspension of currency payment for thirty days, by which time they think the movement of cotton and sugar will place them in a position to fully resume. Sterling exchange, the usual source of currency, at this moment, is not available except at ruinous rates. Heavy drafts have been made upon them for the usual balances from the west and east, and there is no prospect of their drafts for currency being honored. The banks will pay drafts under one hundred dollars. CHARLESTON. CHARLESTON, September 26.-The Peoples bank of South Carolina, the Peoples savings bank, and the South Carolina loan and trust company have suspended currency payments. The national banks and other state banks pay as usual. NASHVILLE. NASHVILLE, September 26.-The banks have suspended currency payments upon checks of over $200. The board of trade approves the action. ATLANTA. ATLANTA, September 26.-A meeting of business men has resolved to assist the banks by free deposits and light drafts. SAVANNAH. SAVANAH, September 26.-In accordance with the resolutions of the chamber of commerce, the banks are certifying checks but withholding currency. CHICAGO. CHICAGO, September 26.-Five national banks have suspended. WASHINGTON. WASHINGTON, September 26.-The following suspensions are announced this morning : Wooten, Webb & Co., Indianapolis ; Krans & Smith, Toledo; Bank of Ansonia, New Hampshire Fant, Washington & Co., of Washington. ENGLAND. LONDON, September 26.-American securities are excited. Large business doing with wide fluctuations and much uneasiness. LATER.-American securities flat and declined heavily. The Daily Telegraph, in an article on the American crisis, savs it cannot be too strongly enforced that there is nothing radically unsound here or in the United States. The great mass of capitalists are not affected by the trouble. The Daily News remarks that in the absence of a system of long credits, the materials for a panic among American trading houses do not exist. It believes that the worst in over. It is said that bullion to the amount of £500,000 sterling will be withdrawn from the bank to be sent to America by next Saturday's steamer.
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NEW ORLEANS. NEW ORLEANS, September 25.-The banking houses have joined in an address giving the reasons for partial suspension of currency payment for thirty days, by which time they think the movement of cotton and sugar will place them in a position to fully resume. Sterling exchange, the usual source of currency, at this moment, is not available except at ruinous rates. Heavy drafts have been made upon them for the usual balances from the west and east, and there is no prospect of their drafts for currency being honored. The banks will pay drafts under one hundred dollars. CHARLESTON. CHARLESTON, September 26.-The Peoples bank of South Carolina, the Peoples savings bank, and the South Carolina loan and trust company have suspended currency payments. The national banks and other state banks pay as usual.
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TELEGRAPH. [SPECIAL DISPATCHES TO THE GAZETTE.) FINANCIAL AFFAIRS NEW YORK, Sept. 26.-The city is being drawed of money at a pretty lively rate. Since Saturday last out-going monies through Adams express have been about $1,500,000 daily, while that coming in, exclusive of what went to the The Treasury, amounted to about $600,000. United States Company have been sending out from $700,000 to $800.000 a day for several days past, while the receipts through that medium are very small. The National Express Company is carrying away an amount about three times as large as usual at this season of the year, and American Express Company is doing nearly likewise. Hows & Macy, in their circularsent their corthe day they say respondents suspended, into "We shall proceed to convert our assets cash as fast as possible and apply the same to the liquidation of our debts. Iu the meantime we have to ask forbearatice of those to whom we are indebted. All mobies received on and after this date will be held subject to the order of the owners thereof. NEW YORK, Sept. --The Steek Exchange remains closed. NEW YORK, Sept. 26.--Twenty-for hours notice is to be given before the Stock Exchange opens. NEW YORK, Sept. 26.--The committee of seven appointed by the governing committee for the purpose of preparing a plan for clear acing stocks submitted a report to-day. No tion was taken in connection with the report. NEW YORK, Sept. 26.-A special dispatch from Chicago, says the Second and Manufac turers' National banks have closed. LONDON, Sept. 26.-Four hundred and twenty-eight thousand pounds sovereigns and 51,000 gold bars were drawn from the Bank of England to-day for shipment to America. LONDON, Sept. 26-41 p. ---The amount of bullion withdrawn from the Bank of England on balance to-day is £473,000, CHARLESTON, S. C. Sept. 6.-The Peoples' bank of South Carolina, the Peoples' Savings bank and the South Carolina Loan and Trust Company have suspended currency payments. The National banks and other State banks pay as usual. LONDON, Sept. 26. -4:30 P. m.-American securities excited with a large business doing at large fluctuations. There is much uncasiness in the market. LONDON, Sept. 26. -4:45 p. m.-The market for all American securities is flat and prices have declined heavily, NEW YORK, Sept. 26.-A Chicago special says the Cooke County National bank has closed. CHICAGO, Sept. 26. It is just announced that the Union National, Manufacturers National and Second National banks have suspended. A notice on the door of the former says that the bank has abundant securities, but is compelled to suspend payment on aca lack of until it is able to has been lost failcount realize. of Nothing currency from made the safe. ures and the depositors will be LONDON, Sept. 26.--4:30 p. m.--It is begold to lieved that the heavy shipments of America already reported are not made in consepuence of the low nominal rate of exchange, but to settle liabilities the bankers here incurred before the financial troubles in New York began. INDIANAPOLIS Sept. 26. The financial excitement continues, but in a much milder form than heretofore. The Indianapolis clearing house, at a meeting this morning resolved to adopt for two days substantially the same plan adopted in New York, Chicago and Cincinnati. It is hoped that by that time confidence will be fully restored. The run still continues 00 Ritizinger's bank. The depositors are mostly Germans and their claims are being paid in full as fast as presented. No doubt exist as to the ability of the bank to promptly meet all demands. NEW YORK. Sept. 26.-Several parties are short of gold and refuse to pay 1 per cent. for borrowing. Consequently there is a hitch in the clearance of gold at the Gold Exchange Bank. CHICAGO, Sept. 26.--Dispatches from the best informed sources received at the office of the Associated Press, in this city, from most of the principal cities in Lilicois and Iowa, in reference to the present financial troubles in the East, concur in saying that the action of the Chicago banks in following the course of the New York banks in suspending payment of large sums of currency is almost universally sustained and commend ed by the bankers and business men as wise and timely and calculated to arrest the panic and pave a way to relief from the present difficulties.
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PANIC PARAGRAPHS. The New York stock exchange remained closed yesterday. I IThe Vicksburg banks have suspended for thirty days as a precautionary measure. A Washington telegram yesterday announced the suspension of the banking firm of Faut, Washington & Co. Cincinnati financial matters have resolved into a state of delightful quietude beautiful to contemplate. The governing committee of the New York stock exchange have resolved to give twenty-four hours notice of its opening. Fort Wayne, Indiana, boasts that quiet reigns in financial circles, and that banks are and will continue business as usual. The Peoples' bank of South Carolina, the Peoples' savings bank, and the South Carolina loan and trust company, at Charleston, have suspended. Currency payments at the National bank and other State banks pay as usual. At Little Rock, yesterday, the excitement continued over the city money. The reported suspension of banks in St. Louis and other places continues. Everything is at a standstill. Very few parties take city money, and no greenbacks are in circulation. At Baltimore yesterday, William Fisher & Sons, who are among the leading stock and gold brokers of that city, closed their doors, and say they have been forced by the delinquencies of their customers to suspend business until they can collect what is due them. They expect to pay every obligation in full, and only ask a short indulgence. In New York, yesterday, Senator Morton, being asked to give his opinion as to the present financial panic, said that his conviction was that the worst was over. "I do not expect the affair to subside all at once," he added, "but my feeling is entirely hopeful." Referring to the suggestion that the government ought to come to the reseue, he said the government will do all It can, but it must not evade the law. In New York yesterday the police were called upon to disperse all groups which threatened to interfere with sidewalk traffic. The brokers were by this means driven into the road, but they fared no better there. The police ordered trucks to be driven through the crowd, and so compelled the brokers to scatter in all directions. Driven from the road, some of the most inveterate speculators and curb-stone brokers adjourned to the gold exchange court, and held high carnival there for about rifteen minutes when the sergeant of the police, with half a dozen men, drove them helter-skelter from their refuge. A Chicago telegram yesterday announced that the Union national, Second national and Manufacturers' national banks have suspended. A notice on the door of the former says that the bank has abundant securities, but is compelled to suspend payment on account of the lack of currency until able to realize. Nothing has been lost from the failures, and depositors will be made safe. The Cook county City national and National Bank of Commerce have followed the example of the Union national and closed their doors. There was a run for an hour on the Corn Exchange bank, but as everything was paid the run was soon stopped. Some who drew have redeposited. The bank is considered very strong. Other national banks are paying regularly. There is considerable excitement among business men, and the grain trade shows some effect. Coolbaugh, president of the Union national, is severely censured by other bankers and the whole community, As his extreme course was wholly unnecessary, it is suggested that there must be something rotten in his bank, though it has been regarded very strong.
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1010, 014 Dates corresponding time last year, 231 bales. Exports, 14 bales. Stock. 140 bales stock same time last year, 270 bales. Receipts at all the ports ending September 1, 1873, 3,930,508 bales-being an increase of 926.557 as compared with the year 1871-72. Rev. William M. Robinson, of Chesterfield, will preach Sunday at the Byrne-Street Baptist church. The pastor. Rev. J.E. Hutson, is in attendance on the Portsmouth Associatioa, now in session at Norfolk Mr. George Hawks has taken charge of the jail as the deputy of Sheriff Stevens. The regular monthly meeting of the Board of Overseers of the Poor was held this afternoon, but no report of its proceedings has been received. ROBIN ADAIR. ATLANTA, GA. ATLANTA, September 26.-A meeting of business men has resolved to assist the banks by free deposits and light drafts. John H. James, banker, has suspended, but will resume in a few days. His assets are double his liabilities. Leading business men and bankers guarantee the solvency and reliability of Mr. James to the amount of $200,000. CHARLESTON, S.C. CHABLESTON, September 26.-The People's Bank of South Carolina, the People's Savings Bank, and the South Carolina Loan and Trust Company have suspended currency payments. The national banks and other State banks pay as usual. The suspended banks represent less than one-quarter of the banking capital of Charleston. The three national banks and the Union Bank pay all demands in full, and claim to be stronger to-night than yesterday. There is no excitementand no failure. COLUMBIA. COLUMBIA, September 26.-There is no run on the banks here, netwithstanding the exeitement elsewhere Cotton is being disposed of readily. MONTGOMERY, ALA. MONTGOMERY, September 26.-At a large meeting of merchants to-day it was resolved to pay all maturing obligations as promptly as the deranged financial situation would permit, and the banks and bankers holding paper were requested to obtain an extension if it should become necessary, and a similar request is made of all parties abroad who hold their paper. Resolutions of confidence in the local banks and institutions were adopted. Cotton has been coming in freely, but not a bale sold for want of currency ; hence these resolutions. MOBILE. MOBILE, September 26.-The National Park Bank of New York will pay all checks drawn by the Mobile Savings Bank on Howes & Macy, of New York. NEW ORLEANS. NEW ORLEANS, September 26.-The banking-houses have joined in an address giving the reasons for partial saspension of currency payments for thirty days, by which time they think the movement of cotton au sugar will place them in a position to fully resume. Sterling exchange, the usual source of currency, at this moment is not available except at ruinous rates. Heavy drafts have been made upon them for the usual balances from the Westand East, and there is no pros pect of their drafts for currency being honored. The banks will pay drafts under one hundred dollars. NASHVILLE, TENN. NASHVILLE, September 26.-The bank have suspended currency payments upon checks of over $200. The Board of Trade approves the action. SAVANNAH, GA. SAVANNAH, September 26.--In accordance with the resolutions of the Chamber of Commerce, the banks are certifying checks bu withholding currency. CHICAGO. CHICAGO, September Second Na tional and the Manufacturers National Bank are closed. CHICAGO, September 26.-Five national banks have suspended. PHILADELPHIA. PHILADELPHIA, September 26.-A state ment is made of the assets and liabilities d Jay Cooke & Co., of Philadelphia, Nev York, and Washington, placing the liabil ties at slightly over $7,900,000. The assets including bills receivable, bank stocks, bonds real estate, loans to the Northern Paciti railroad, &c. are shown to be nearly S16. 000,000, half of which appears to be North ern Pacific stock. ENGLAND. LONDON, September 20.-Consols, 921 99 Erie, 44. Later.-Erie, 414. LONDON, September 26---4 o' Clock P. M American securities are excited. Large bu siness doing, with wide fluctuations an much uneasiness. Later.-American securities flat, and de clined heavily. It is believed that the heavy shipments 0 gold to America, already reported, are no made in consequence of the low nomina rate of exchange, but to settle liabilitie that bankers here Incurred before the finan cial troubles in New York begun. by A collision occurred near Carlisle which several persons were killed. Sebastiano Olozaga, the well-known Span ish statesman, is dead. THE GOVERNMENT LOSES $200,000 BY CLEW & CO. A Washington dispatch says The loss to the Government by the suspension of Clews, Habicht & Co. will not b large even if the suspension prove a failure The only relation which this firm held to the Government is that of fiscal agents for the State Department in Europe. The dis bursements of this firmasagents of the State Department are not made through advances direct from the Treasury. Under the new consular law consuls are required to deposit all fees with the agent designated by the Government, and are not permitted even to retain their salaries. These fees are deposited with Clews, Habieht & Co., and at the end of each quarter consuls and diplomatic officers draw against them for their salaries and expenses. The general aggregated average of these fees is not equivalent to the salaries and expenses of the consular and diplomatic officers, and it usually happens that at the end of the quarter the balance i in favor of Clews, Habicht & Co. This sus pension having occurred before the close o the quarter it is probable that considerable amount of fees have been deposited with th drafts have not been
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Columbus & Indiana Central 19a21. Gold excited and has advanced to 1124. WHY GOLD IS SHIPPED FROM LONDON. LONDON, Sept. 26-It is believed the heavy shipments of gold to America already reported are not made in consequence of the low nominal rate of exchange, but to settle liabilities of bankers here incurred before the financial troubles in New York began. SUSPENSIONS AT CHARLESTON, S. C. CHARLESTON, Sept. 26.-The People' Bank of South Carolina, Savings Bank and South Carolina Loan and Trust Co. have suspended currency payment. The National Bank and other State banks pay as usual. EXCITEMENT IN AMERICAN SECURITIES AT LONDON. LONDON, Sept. 26.-4:30 M.- American securities are excited, with a large business doing at wide fluctuations. There is much uneasiness in the market. U.S. 20 bonds of '65 sold at 944, '67's 95,10-403 % 901, new five's 91. 4:45 P. M.-The market for American securities is flat and prices have declined heavily, NEW YORK, Sept. 26.-Several parties are short of gold and refuse to pay the half per cent for borrowing, consequently there is a hitch in the clearing of gold at the Gold Exchange Bank. SUSPENSION OF WM. FISHER & SONS, AT BALTIMORE. BALTIMORE, Sept. 26.-Wm. Fisher & Sons, who are among the leading stock and gold brokers of this city, have closed their doors, and say they have been forced by the delinquencies of their customers to suspend business until they can collect what is due. They expect to pay every obligation in full, and only ask a short indulgence. USE OF CERTIFIED CHECKS RECOMMENDED AT SAVANNAH. SAVANNAH, GA., Sept. 26.-The Chambers of Commerce held an adjourned meeting late last night, to receive the following report of committee, which was adopted. Resolved, That the banks and banking houses of Savannah be recommended to meet the demand of depositors by certifications, to be used as the necessities of the holders may require, until temporary difficulties be removed, and until exchange can be regulated, and currency be receivto move receipts. The committee also reported that they had waited on the banks and bankers and had submitted the resolution of the Chamber to them and that it met with their acquiescence, and then read the following preamble and resolution adopted by the banks and bankers: WHEREAS, In view of the unprecedented panic prevailing in New York and at fecting all parts of the country, paralyzing legitimate business and for the purpose of protecting the commercial interests of our community and enabling the banking institutions of the city to furnish facilities essential to the forwarding of the crops of the country with safety to all parts, Resolved, That the banks and banking houses of Savannah will only meet the demands of depositors by certification of checks, to be used as the necessities of the holders may require, until the temporary difficulties are removed and until exchange can be negotiated or the currency be received to move crops. The banks d-day are acting according to this resolution.
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these deposits only in payment of your respective checks against the new accounts. NEW YORK, Sept. 26.-The banks cleared to-day in good shape. Their relative condition is unchanged. PHILADELPHIA, Sept. 26.-A statement of the assets and liabilities of the firm of Jay Cooke & Co., of Philadelphia, New York and Washington, has been prepared by them, which is to be submitted to their creditors. The following is the summary: Liabilities, $7,939,409; assets, bills receiv able, bank insurance, and their stock. bonds and real estate, $7,867,640 loans to Northern Pacific Railroad Company are $3,750,000; stock of Oregon Steam Navigation Company, $1,500,000; loans to Northern Pacific R. R. Co., on bonds of company, $4,068,215; second mortgage railroad bonds, stocks, &c., $2,530,356 total, $15,966,211. The above exhibit of liabilities isinclusive of $7,101,140 loans of the firm, which are fully secured by good collaterals. The excess of collaterals upon these loans have been estimated and included in the assets. The firm expects soon to submit a proposition for settlement with its creditors, which, it believes, will be acceptable to the latter, although it will, of course, require time in the conversion of its assets. The handsomeshowing made leaves no doubt of its ability to pay every dollar of its indebtedness with interest and still have a surplus of several millions of dollars. PHILADELPHIA, Sept. 26.-During the existing dearth of currency, banks will in the future pay out no currency, except what is actually needed for the payment of wages. WASHINGTON, Sept. 26. -Fant, Wash e ington & Co. posted a notice on the closed door of their banking house to day, saying We are compelled to suspend payment for the present. The Governing Committee has decided to give twenty four hours notice of the reopening of the stock exchange. Mr. Fant, of the firm of Fant, Washihgton &Co., expresses the belief that they will be able to resume business when the panic is over. e VICKSBURG, Miss., Sept. 26. -The Banks in this city have suspended for the period of thirty days as a precautionary measure. ATLANTA, Ga., Sept. 26.-John H James, banker, who suspended, will re a sume in a few days. CHARLESTON, S. C., Sept. 26.-The be People's Bank of Charleston, and the nSouth Carolina Loan and Trust Company have suspended. WASHINGTON, Sept. 26. -There was no regular meeting of the Cabinet to-day only three members being in town, Secre taries Delano and Richardson, and Attor ney General Williams, re n. PITTSBURG, Pa. Sept. 26.-The Pitts of burg t-office was taken possession o a this afternoon by Major Pethbridge, Chie isof the Special Service Bureau of the Post e. office Department. and Colonel John H ds Stewart. post-master, was arrested as a de faulter to the amount of $33,000. He gay ry of bail in the sum of $60.000. to CHICAGO, Sept. 26.-S. P. Beldine, lat in book-keeper of H. E. Malloy & Co., at th Union Stock Yards, is a defaulter to th ex amout of $4,000. the NEW ORLEANS, Sept. 26. -There is no the a single case of yellow fever under treat nd ment here. not OMAHA, Neb., Sept. 26.-The woo 1 a work of one entire span of the Union Pa oncific railroad bridge was destroyed by fir rothis afternoon. It will be fixed by t dimorrow.
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NEW YORK, Sept. 26. SETTLING DOWN. Affairs are quiet. Twenty-four hours' notice is to be given when the stock exchange opens. Gold 1111. DISCOUNTS The banks yesterday discounted notes for the first time since the excitement. A JUST DETERMINATION A number of stockholders of the State bank of New Brunswick, the suspension of which was occasioned by the defalcation of the cachier, have pledged themselves to pay depositors in full. Almost up to the last moment, depositors implicitly trusted the bank, and its trouble has thrown the town into a ferment. STOCK OPERATIONS Noon. --The committee of seven appointedby the governing committee for the purpose of preparing a plan for clearing stocks, submitted a report to-day to the governing committee. No action was taken in connection with the report. BANK SUSPENSIONS A special dispatch from Chicago says the Second and Manufacturers' National bank is closed. A Charleston special says the People's bank and the South Carolina Loan and Trust company are repo ed sus. pended. THE FINANCIAL SITUATION. Every movement thus far for relief by the clearing house association, stock board of government, decreases business, and the consequence has been there is no fuel for the flame to feed upon. The uneasiness has now extended to commercial circles, especially the shippers of grain and other produce, who are compelled to accept bills of exchange: these they cannot exchange into greenbacks. and hence there is danger that the immense volume of breadstuffs pouring into this city from the west and south will be detained here for want of an available market, and good prices await them. This phase of the financial revolntion is just beginning to be felt. Unless relief is soon obtained, orders for consignments from the west and south will soon cease altogether. The clearing houseassociation held no meeting yesterday. Thus far $17,000,000 of loan certificates have been issued. In reply to a question concerning a rumor of the return by government of bonds purchased during the panic for the price paid for them. General Hillhouse said yesterday he had heard nothing of the kind. Mr. Grain. of the firm of Duncan. Sherman & Co., said the stoppage of the purchase of bonds had resulted in no pressure upon the money market yet, and might not. He believed the stoppage was unwise. but thought purchases would be resumed when the president was advised of the necessity for continued purchases. The heavy shipments of bullion from abroad excite the very general opinion that they cannot af feet affairs here at all. One first received $132,000 on Wednesday from Hamburg. shipped ten days before, and have more on the way, but the shipments generally were useless as a speculation. Officers of express companies report they are carrying from the city more money than they bring in. A great many bills are sent for collection against banks and firms, which give them much trouble. as in many instances it was impossible to collect them. The officers say, however, the drain from the city is always greater at this season of the year than at other times, but much greater now than at any previous time. AT THE FIFTH AVENUE HOTEL The crowd at the Fifth Avenue hotel last night was very small, and loungers in the corridors were quiet and listless. Few heavy operators were preesnt. THE PANIC TO HASTEN RESUMPTION or SPE CIE PAYMENTS. A Washington dispatch says Dr. Linderman. the director of the bureau of the mint, predicts that the effect of this stock panic will be to hasten the resumption of specie payments. He says he is getting ready and has issued orders to all mints for largely increasing the coinage, and that more bullion will be coined during the next three months than at any previous time in the same period. No export of crude bullion will be made for several months. Large orders have been telegraphed to London from New York for the importation of sovereigns, which, at the present condition of sterling exchange. will give a large profit. PLEA OF THE NEW YORK TIMES FOR FURTHER ACTION BY THE GOVERNMENT. In a double-leaded editorial the Times says: We are no alarmists but it is impossible to be blind to what is now going on. We venture to suggest to the secretary of the treasury the propriety of once more considering two of the least objectionable measures which have been pressed upon his attention, the payment of the 1874 bonds due next January, which will release about $8,000,000 of greenbacks, and the purchase of sterling bills of exchange to the amount of at least $5,000,000. The latter device would reseue the export trade from its present deadlock and set exports free They are both urged by the and our and merchants most regain. experienced bankers. conservative of THE WORK OF THE CLEARING HOUSE. of the clearing an of legal the Mr. equalization Camp tenders housesays at that clearing house took place yesterday for the
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Suspension of Banks in Charleston, s.c. CHARLESTON, S. C., Sept. 26, 1873. The People's Bank of South Carolina, the People's Savings Bank and the South Carolina Loan and Trust Company have suspended currency payments. The national banks and the other State banks pay as usual.