Peoples Bank - Darlington, SC

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 20, 1932
Location: Darlington, South Carolina (34.300, -79.876)

Metadata

Model: gpt-5-mini
Short Digest: 6648576b

Response Measures

None

Description

Articles (July 1932) describe the Peoples Bank of Darlington as a closed bank with G. B. Brasington named as receiver and reference to estates tied up in closed banks. No run is described. The bank was in receivership (closure). OCR errors in articles corrected (e.g., punctuation and names).

Events (2)

1. July 20, 1932 Receivership

Newspaper Excerpt: Donald E. Mitchie, et al., peti-respondent, against the Peoples Bank of Darlington and G. B. Brasington, as receiver, appellants.
Source: newspapers

2. * Suspension

Cause: Government Action
Cause Details: Bank had been closed and placed in receivership (receiver G. B. Brasington).
Newspaper Excerpt: estates now tied up in closed banks ... in case Darlington county, Donald E. Mitchie, et al., the Peoples Bank Darlington and receiver, appellants.
Source: newspapers

Newspaper Articles (2)

1. July 20, 1932 The Index-Journal Greenwood, SC

Article from The Index-Journal, July 20, 1932

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Article Text

Decision Reversed In Important Case (/P)-Estate funds received in trust by bank and mingled with other bank funds. does not constttute breach of trust in event of the bank's failure and give the estate a preferential claim over other the court ruled in imsupreme portant majority opinion today. The opinion, the ruling by the court on phases of 1930 statute, is regarded as highly important in view of the number of estates now tied up in closed banks. Written by Associate Justice M. L. Bonham, was concurred Blease Stabler. Associate Justice carter Although law a personal ministrator, mingle the with his own sue to the estate, must make good from his own funds." The court ruled a bank receiver is not required to pay an estate ahead of creditors and depositors where there is no breach of trust. The court reversed the decision of Judge E. C. Dennis in a case from Darlington county. Donald E. Mitchie, et al., peti-respondent, against the Peoples Bank of Darlington and G. B. Brasington, as receiver, appellants.

2. July 23, 1932 The Gaffney Ledger Gaffney, SC

Article from The Gaffney Ledger, July 23, 1932

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Article Text

Decision Reversed In Important Case Columbia, July funds received trust by and mingled with other bank funds, not breach trust event of the bank's failure give the estate preferential claim other positors, supreme court ruled an important majority opinion today The opinion, the first ruling the court on phases of 1930 statute, is regarded highimportant in view of the num estates now tied up closed banks. Written by Associate Justice the opinion concurred Chief Justice Stabler Associate Justice Car ter dissented. Although pointing out the law personal ministrator, guardian trustee mingle the funds of the estate with his own funds, and loss ensue estate, the fiduciary must make good from funds. court ruled bank receiver not required an estate ahead of creditors depositors where there is no breach trust. The court the deci sion of Judge in case Darlington county, Donald E. Mitchie, et al., the Peoples Bank Darlington and receiver, appellants.