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ALREADY SENT RFC Makes Loan To Receivers Of 44 Closed Banks For 20 Per Cent Dividend PAYMENT PREFERRED CLAIMS MADE FIRST Senator Byrnes Largely Instrumental In Securing Money For Institution COLUMBIA, Sept. 12-(AP)Receivers of the Peoples State Bank of South Carolina announced today they had mailed out approximately 30,000 checks totaling $2,600,000 to depositors in the bank's 44 units. The bank receivers sald they had notified loan from the Reconstruction corporation had been granted, and within an hour of receipt of the notice, the checks were mailed BYRNES AIDS DEPOSITORS Senator James F. Byrnes was largely instrumental in securing the loan from the R. From collections previously made together with proceeds of the loan, it was said preferred claims which have been adjudicated by the court and of 20 per cent to depositors and general creditors will be paid. A reserve has been made, they said, for claims. The said they pay 20 dividend they had and pay to holders of securities the bank pledged for money Payment of preferred claims, they said. was accordance with orders United States District Judge Lyles Glenn, heard arguments the claimsand orders the the money and payment of the dividend WHERE MONEY GOES The dividend distributed depositors the bank in CharColumbia, Greenville Abbeville. Allendale Anderson, Batesburg Bennettsville, Chesnee, Clemson College Darlington, Edgefield, Georgetown, Greeleyville Hemingway Kingstree Lake City, Manning Olanta, Ridge Spring, Seneca George Stephens Springfield, Summerton Summervi Swansea, Timmonsville and VarnThe bank closed January 2, 1932.
