Exchange Bank - Columbia, SC

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 16, 1875
Location: Columbia, South Carolina (34.001, -81.035)

Metadata

Model: gpt-5-mini
Short Digest: 132de8f9

Response Measures

None

Description

Articles (May–July 1875 and April 1876) refer to the Exchange Bank of Columbia being in the hands of a receiver (Cyrus H. Baldwin) and lawsuits against the receiver and stockholders. No article describes a depositor run; the bank appears to have suspended and gone into receivership and litigation, indicating permanent closure. Bank likely a state-chartered bank (issued bank bills). Dates corrected/used from newspaper publication dates.

Events (2)

1. May 16, 1875 Suspension

Cause: Government Action
Cause Details: Bank placed in the hands of a receiver (Cyrus H. Baldwin) and subject to court proceedings; suspension/closing by receivership.
Newspaper Excerpt: in the case of J. and T. Greene vs. Cyrus H. Baldwin, receiver of the Exchange Bank of Columbia
Source: newspapers

2. July 8, 1875 Receivership

Newspaper Excerpt: J. & T. Green against Cyrus H. Baldwin, receiver of the Exchange Bank of Columbia, ... an appeal was granted (United States Court, Charleston, July 8). 1875-07-10 publication).
Source: newspapers

Newspaper Articles (5)

1. May 16, 1875 The Daily Phoenix Columbia, SC

Article from The Daily Phoenix, May 16, 1875

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Article Text

THE UNITED STATES CIRCUIT COURT. CHARLESTON, MAY 14.-Chief Justice Waite and Judge Hugh L. Bond, presiding. In the case of John P. Soathern, Geo. W. Williams and James P. Lowe, assignees of the Blue Ridge Railroad Company, vs. Solomon L. Hoge, Comptroller-General, and others, the court held that the judgment in the State Courts concluded the rights of the complainants in the cause, and the court ordered that the bill be dismissed with costs, and that the injunction heretofore granted be dissolved. In the case of the Richmond and Danville Railroad Company vs. J. P. F. Camps, County Treasurer of Spartanburg, a verdict was rendered for the plaintiffs for the property sued for, with $300 damages. In the matter of George W. Cunningham, in bankruptcy, it was ordered that the appeal of George W. Williams & Co. in the above cause be dismissed for want of prosecution. In the cases of Harvey Terry us. the Bank of Chester, and the same us. the Bank of Fairfield, it was ordered that the plaintiff have leave to amend his bill in these causes, and that the defendants have leave to answer. In the case of J. and T. Greene us. Cyrus H. Baldwin, receiver of the Exchange Bank of Columbia, and others, after hearing the report of John F. Ficken, Special Master in this cause, it was ordered that the same be confirmed, and that the complainants have execution against the defendants in the following sums, with costs: $8,000 against James P. Carroll, in addition to the $10,000 heretofore adjudged against him; $10,000 against L. D. Childs; $2,000 against Cyrus H. Baldwin; $9,000 against Catharine McAfie; $20,000 against Wm. Wallace, executor of Andrew F. Wallace, deceased; $10,000 against William Martin, executor of Edward J. Arthur, and $42,000 against Elizabeth L. Herndon, administratrix of Zachariah P. Herndon. And it was further ordered, that the plaintiffs have leave to move for such further order in the case as they may be advised.

2. May 16, 1875 The Daily Phoenix Columbia, SC

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Article Text

THE UNITED STATES CIRCUIT COURT, CHARLESTON, MAY 14.-Chief Justice Waite and Judge Hugh L. Bond, presiding. In the case of John P. Soathern, Geo. W. Williams and James P. Lowe, assignees of the Blue Ridge Railroad Company, vs. Solomon L. Hoge, Comptroller-General, and others, the court held that the judgment in the State Courts concluded the rights of the complainants in the cause, and the court ordered that the bill be dismissed with costs, and that the injunction heretofore granted be dissolved. In the case of the Richmond and Danville Railroad Company vs. J. P. F. Camps, County Treasurer of Spartanburg, a verdict was rendered for the plaintiffs for the property sued for, with $300 damages. In the matter of George W. Cunningham, in bankruptcy, it was ordered that the appeal of George W. Williams & Co. in the above cause be dismissed for want of prosecution. In the cases of Harvey Terry vs. the Bank of Chester, and the same vs. the Bank of Fairfield, it was ordered that the plaintiff have leave to amend his bill in these causes, and that the defendants have leave to answer. In the case of J. and T. Greene vs. Cyrus H. Baldwin, receiver of the Exchange Bank of Columbia, and others, after hearing the report of John F. Ficken, Special Master in this cause, it was ordered that the same be confirmed. and that the complainants have execution against the defendants in the following sums, with costs: $8,000 against James P. Carroll, in addition to the $10,000 heretofore adjudged against him; $10,000 against L. D. Childs: $2,000 against Cyrus] Baldwin; $9,000 against Catharine McAfie; $20,000 against Wm. Wallace, executor of Andrew F. Wallace, deceased; $10,000 against William Martin, executor of Edward J. Arthur, and $42,000 against Elizabeth L. Herndon, administratrix of Zachariah P. Herndon. And it was further ordered, that the plaintiffs have leave to move for such further order in the case as they may be advised.

3. July 10, 1875 The Daily Phoenix Columbia, SC

Article from The Daily Phoenix, July 10, 1875

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Article Text

In the United States Court, Charleston, July 8, Judge Bryan presiding, in the case of J. & T. Green against Cyrus H. Baldwin, receiver of the Exchange Bank of Columbia, J. P. Carroll, L. D. Childs and others, an appeal was granted. The application of N. Fehrenbach, for final discharge in bankruptcy, was referred.

4. July 10, 1875 The Daily Phoenix Columbia, SC

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Article Text

In the United States Court, Charleston, July 8, Judge Bryan presiding, in the case of J. &T. Green against Cyrus H. Baldwin, receiver of the Exchange Bank of Columbia, J. P. Carroll, L. D. Childs and others, an appeal was granted. The application of N. Fehrenbach, for final discharge in bankruptcy, was referred.

5. April 23, 1876 The New York Herald New York, NY

Article from The New York Herald, April 23, 1876

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Article Text

arrested them as suspicious persons. At this court they admitted having been employed by Duggan to watch Quigley and report to him anything wrong of which the officer might be guilty. They were discharged with a warning not to offend in that way again. WHERE A CLUB WAS NEEDED. William Smith, of No. 529 West Forty-sixth street, was discovered in the act of stealing a roll of carpet from John Walsh's store, No. 252 West Forty-ninth street, and he was arrested by Officer Beck, Twentysecond precinct. Smith put his hand back to his pantaloons pocket as if to draw some weapon, but before he could do so he was knocked down by the officer with his club. In talling an open knife in Smith's pocket cut a hole in his thigh, the point of the knife remaining in the wound. At this court he was held for trial at the Court of General Sessions. PLAYING POLICY FOR A PURPOSE. On the 4th of April James A. King, of No. 398 Greenwich street, went to the policy shop at No. 332 1/2 of the same street, and purchased for fifteen cents a policy ticket known as a "gig. He did this. he testified. not as a gambler, but for the purpose of obtaining evidence against the place sufficient to break it up. And it was for the same reason that he bad not before yesterday brought the case to the attention of the Court. Michael Lahn, the person from whom the ticket had been purchased, pleaded not guilty to the charge and his counsel moved for his discharge on the ground that there was no date on the ticket; that it was not signed by any one, and especially on the ground that the complainant did not purchase the ticket, as he admitted, to gamble with it. The motion did not prevail and Lahn was heid for trial in default of $1,000 ball. UNITED STATES SUPREME COURT. WASHINGTON, April 21, 1876. In the United States Supreme Court yesterday the following cases were heard:No. 205. Hammond & Goodell VR. Mason & Hamlin Organ Company-Appeal from the Circuit Court for the District of Massachusetts.-This was an action for an intringement of a patent for tremolo attachment claimed as an improvement in melodeons granted to one Louis in 1856, a reissue of which is claimed as the property of the appellees by assignment made in 1872. The defendants admitted that in the manufacture of organs they use tremolo attachments made precisely in accordance with the specifications, drawing and model of an application for a patent made by Louis in 1868, but alleged that it was under a license from the patentee to their grantors made in 1871, and a series of subsequent agreements made between themselves and Louis. The Court below found that the appellees were the legal representatives and successors in business of Mason & Hamlin and were protected in the use of the attachment by the assignment and agreements set up, and dismissed the bill. It IS here insisted that the granting of license to use the attachment under the original patent gives no right to continue the use under the extended term of the patent. unless so expressly agreed by the patentee; and it is said there is no such contract in this case B. E. Valentine for appellants. F. H. Betts for appellees. No. 216. Carroll et al. vs. Greer. & Green--Appeal from the Circuit Court for the District of South Carolina.-This was a bill filed by the appellees for them. selves and others as holders of bills of the Exchange Bank of Columbia, S. C., against the receiver and stockholders of the bank, to make the latter personally liable for the redemption of the bills, under the alleged provisions of the bank charter. The Court sustained the allegations of the bill, and the decree was against the stocknolders. It is here maintained that the liability under the law is to the State and not to the creditors, and that it does not exist under the charter to the bank, but 18 contained in a bill rechartering the Planters and Mechanics' Bank of South Carolina, which incidentally chartered a number of new banks, among which was the Exchange Bank. It is also contended, under an act of 1869, that by a forteiture of the charter of the bank, and by non-compliance of the terms of redemption provided by that act, the stockholders became relieved from all liability. It is further said that in the decree below there is no proper adjustment of the sums to be paid where stockholders have already redeemed bills, judgment being given against such defendants as against others who have not redeemed bills. This IS a test case, the decision in which will dispose of a number of others of a like class. A. G. McGrath and W. W. Boyel for appellant. Corbin & Stene for appellees.