20095. Bank of Georgetown (Georgetown, SC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 18, 1869
Location
Georgetown, South Carolina (33.372, -79.281)

Metadata

Model
gpt-5-mini
Short Digest
414ef81a

Response Measures

None

Description

Court-ordered surrender of assets to a receiver (R. H./R. E. Fraser) on 1869-11-18; subsequent sales of assets and real estate in Dec 1870 and final distributions reported Feb 1871 indicate the bank was placed in receivership and wound up rather than reopened. No run is described in the articles.

Events (5)
1. November 18, 1869 Receivership
Newspaper Excerpt
the duly appointed receiver, on giving bonds ... The said assets to be delivered to him, to be collected in the most expeditious manner. It was further ordered that the Clerk of the Court act as special referee to notify all claimants to prove demands, all creditors being restrained from instituting any suits against the bank.
Source
newspapers
2. November 18, 1869 Suspension
Cause
Government Action
Cause Details
Court order in suit (J. and T. Greene vs. Bank of Georgetown) requiring directors to surrender assets to a court-appointed receiver; creditors restrained from instituting suits.
Newspaper Excerpt
That the president and directors of the Bank of Georgetown do account fully for their administration of the assets thereof, and surrender the same ... to R. H. Fraser, the duly appointed receiver
Source
newspapers
3. December 5, 1870 Other
Newspaper Excerpt
all the following ASSETS BELONGING TO THE BANK OF GEORGETOWN will be sold at Public Outcry ... MONDAY, the 5th December next ... R. E. FRASER, Receiver.
Source
newspapers
4. December 19, 1870 Other
Newspaper Excerpt
will be sold, in the Town of Georgetown, S. C., on MONDAY, the 19th day of December, 1870 ... The REAL ESTATE belonging to the Bank of Georgetown ... with the Banking House and other buildings thereon; and also ... the FURNITURE, &c., of said Bank ... R. E. FRASER, Receiver.
Source
newspapers
5. February 15, 1871 Other
Newspaper Excerpt
the report of the special referee was read, setting forth that the receiver, Wm. Fraser, had submitted his report, showing funds in his hands realized from the sales of assets to the amount of $222840, of which $7617 was cash. It was ordered that the receiver pay into court the said cash and credit ... and that the clerk report the names of the claimants and the percentage to which they are entitled.
Source
newspapers

Newspaper Articles (10)
1. November 18, 1869 The Charleston Daily News Charleston, SC
Article from The Charleston Daily News, November 18, 1869

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Article Text

THE UNITED STATES COURT-HON. GEORON S. BRYAN, PRESIDING-In Nankruptcy.-The Judge approved of the following appointments of assignees: W. C. Shumake, assignee of J. W. Norwood, of Greenville, and J. R. Fowler, assignee of W. A. Check, of Laurens. The following petitions for final discharge were referred to Registrar Carpenter, viz: Ex parte W. B. Lee, J. M. Wooddell, H. S. Crabb and J. H. Lee, of Marlboro. The petitions of J.R. Cochran, of Anderson, and Garrell & Shell, of Laurens, for final discharge, were referred to Registrar Jaeger. Certificates of final discharge were issued, under the scal of the court, to the following persons, viz: W. G. Allen, of Beaufort; John Wiley, of Darlington; W. H. Burgess, W. M. Reese, or maby Blanding, 3. Chandler, J. Meyers and D. A. Foxworth, of Sumter. Ex parte D. J. Winn, in re Joshua Meyers. Petition for sales of choses in action. Order of sale granted. In the Circuit Court.-J. and T. Greene VS. The Bank of Georgetown and Manning & Deforrest. Bill for Injunction to restrain the creditors of the bank, Messrs. Manning & Deforrest, from pursuing a suit at law for the amount of their claims. Messrs. Rutledge & Young for complainants, and Wm. Whaley, Esq., for Manning & Deforrest. A greater portion of the morning was consumed in hearing argument, after the conclusion of which the Judge ordered substantially as follows: That the president and directors of the Bank of Georgetown do account fully for their administration of the assets thereof, and surrender the same, together with any title deeds of real estate, property, real, personal and mixed, all evidences for the payment of money, including bills, notes, bonds, or other choscs in action, to R. H. Fraser, the duly appointed receiver, on giving bonds with personal security double the amount of the present valuq of the assets, the same to be approved by the Clerk of the Court, The said assets to be delivered to him, to be collected in the most expeditious manner. It was further ordered that the Clerk of the Court act as special referee to notify all claimants to prove demands, all creditors being restrained from instituting any suits against the bank.

2. November 18, 1869 The Charleston Daily News Charleston, SC
Article from The Charleston Daily News, November 18, 1869

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Article Text

THE UNITED STATES COURT-HON. GEORGE S. BRYAN, PRESIDING-In Bankruploy.-The Judge approved of the following appointments of assignees: W.C. Shumake, assignee of J. W. Nor. wood, of Greenville, and J. R. Fowler, assignee of W. A. Cheek, of Laurens. The following petitions for final discharge were referred to Registrar Carpenter, viz: Ex parte W. B. Lee, J. M. Wooddell, H. S. Crabb and J. H. Lee, of Marlboro. The petitions of J.R. Cochran, of Anderson, and Garrell & Shell, of Laurens, for final discharge, were referred to Registrar Jaeger. Certificates of final discharge were issued, under the seal of the court, to the following persons, viz: W. G. Allen, of Beaufort; John Wiley, of Darlington; W. H. Burgess, W. M. Reese, Ormsby Blanding, J. Chandler, J. Meyers and D. A. Foxworth, of Sumter. Ex parte D. J. Winn, in re Joshua Meyers. Petition for sales of choses in action. Order of sale granted. In the Circuit Court.-J. and T. Greene vs. The Bank of Georgetown and Manning & Deforrest. Bill for injunction to restrain the creditors of the bank, Messrs. Manning & Deforrest, from pursuing a suit at law for the amount of their claims. Messrs. Rutledge & Young for complainants, and A Wm. Whaley, Esq., for Manning & Deforrest. greater portion of the morning was consumed in hearing argument, after the conclusion of which the Judge ordered substantially as follows: That the president and directors of the Bank of Georgetown do account fully for their administration of the assets thereof, and surrender the same, together with any title deeds of real estate, property, real, personal and mixed, all evidences for the payment of money, including bills, notes, bonds, or other choses in action, to R. E. Fraser, the duly appointed receiver, on giving bonds with personal security double the amount of the present value of the assets, the same to be approved by the Clerk of the Court. The said assets to be dolivered to him, to be collected in the most expeditious manner. It was further ordered that the Clerk of the Court act as special referee to notify all claimants to prove demands, all creditors being restrained from instituting any suits against the bank.

3. November 30, 1870 The Charleston Daily News Charleston, SC
Article from The Charleston Daily News, November 30, 1870

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Article Text

Auction Sales - future Dans. By W. Y. LEITCH & R. S. BRUNS, Auctioneers. STATES OF AMERICACarolina District-In Circuit Court UNITED A -T. & J. Green vs. Bank of Georgetown, et al. In pursuance of order made in above case, on the 1st of July, A. D. 1870, by the Circuit Court aforesaid, all the following ASSETS BELONGING TO THE BANK OF GEORGETOWN will be sold at Public Outcry, in the City of Charleston, at the Office of Measrs. W. Y. Leitch & R. S. Bruns, No. 35 Broad street, on MONDAY, the 5th December next, commencing at 11 o'clock. Terms cash. R. E. FRASER, Receiver.

4. December 5, 1870 The Charleston Daily News Charleston, SC
Article from The Charleston Daily News, December 5, 1870

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Article Text

Auction Sales--This may. By W. Y. LEITCH & R. S. BRUNS, Auctioneers, STATES OF AMERICACarolina District-In Circuit Court -T. & J. Green vs. Bank of Georgetown, et al. In pursuance of order made. in above case, OR the 1st of July. A. D. 1870, by the Circuit Court aforesaid, all the following ASSETS BELONGING TO THE BANK OF GEORGETOWN will be sold at Public Outery, in the City of Charleston, the Office of Messrs. W. Y. Leitch & R. S. Bruns, No. 35 Broad street, THIS DAY, the 5th December commencing at 11 o'clock. Terms cash. R. E. FRASER Receiver.

5. December 8, 1870 The Charleston Daily News Charleston, SC
Article from The Charleston Daily News, December 8, 1870

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Article Text

STATES OF AMERICACarolina District-In Circuit Court 1. & J. Green vs. Bank of Georgetown, et al. In pursuance of order made in above case, on the 1st of July. A. D. 1870, by the Circuit Court aforesaid, will be sold, in the Town of Georgetown, S. c., on MONDAY, the 19th day of December, 1870, at 12 M., in front of the Courthouse, The REAL ESTATE belonging to the Bank of Georgetown, known and distinguished in the Plan of the Town as Lots Nos. 89 and 90, measuring 151 by 109 feet, with the Banking House and other buildings thereon; and also, at the same time and place, the FURNITURE, &c., or said Bank, consisting of : 2 MAHOGANY DESKS 1 Iron Safe 2 Coin Scales 2 Letter Presses. Terms-For the Furniture, &c., cash; for the Banking House and premises attached, one-third cash, and the balance on a credit of one, two and three years, secured by the bond or bonds of the purchaser, with legal interest from the day of sale, payable annually, and a mortgage of the premises: the premises to be Insured and kept insured by the purchaser or purchasers for an amount equal to the amount of the boad or bonds, and the policy of insurance assigned. Purchaser to pay for title and stamps. R. E. FRASER, Receiver. nov26-ltnths6

6. December 10, 1870 The Charleston Daily News Charleston, SC
Article from The Charleston Daily News, December 10, 1870

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Article Text

STATES OF AMERICACarolina District-In Circuit Court -T. & J. Green vs. Bank of Georgetown. et ab: In pursuance of order made in above case, on the 1st ofJuly. A. D. 1870, by the Circuit Court aforesaid, will be sold. in the Town of Georgetown, S. U., on MONDAY, the 19th day of December. 1870, at 12 M., in front of the Courthouse, The REAL ESTATE belonging to the Bank of Georgetown, known and distinguished in the Plan of the Town as Lots Nos. 89 and 90. measuring 151 by 109 feet, with the Banking House and other buildings thereon; and also, at the same time and place, the FURNITURE, &c., of said Bank, consisting of : 2 MAHOGANY DESKS 1 Iron Safe 2 Coin Seales 2 Letter Presses. Terms-For the Furniture, &c., cash; for the Banking House and premises attached. one-third cash, and the balance on a credit of one, two and three years, secured by the bond or bonds of the purchaser, with legal interest from the day of sale. payable annually, and a mortgage of the premises; the premises to be insured and kept insured by the purchaser or purchasers for an amount equal to the amount or the bond or bonds, and the policy of insurance assigned. Purchaser to pay for title and stamps. R. E. FRASER, Receiver. nov26-tuths6

7. December 13, 1870 The Charleston Daily News Charleston, SC
Article from The Charleston Daily News, December 13, 1870

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STATES OF AMERICACarolina District-In Circuit Court UNITED A -T. & J. Green vs. Bank of Georgetown. et al. In pursuance of order made in above case, on the 1st of July. A. D. 1870, by the Circuit Court aforesaid, will be sold. In the Town of Georgetown, S. O., ou MONDAY, the 19th day of December, 1870, at 12 M., in front of the Courthouse, The REAL ESTATE belonging to the Bank of Georgetown, known and distinguished in the Plan of the Town as Lots Nos. 89 and 90, measuring 151 by 109 feet, with the Banking House and other buildings thereon; and also, ar the same time and place, the FURNITURE, &c., of said Bank, consisting of 2 MAHOGANY DESKS 1 Iron Safe 2 Coin Scales 2 Letter Presses. Terms-For the Furniture, &c., cash; for the Banking House and premises attached. one-third cash, and the balance on a credit of one, two and three years, secured by the bond or bonds of the purchaser, with legal interest from the day of sale. payable annually, and a mortgage of the premises; the premises to be insured and kept. insured by the purchaser or purchasers for an amount equal to the amount of the bond or bonds, and the policy of insurance assigned. Purchaser to pay for title and stamps. R. E. FRASER, Receiver. nov26-tuths6

8. December 15, 1870 The Charleston Daily News Charleston, SC
Article from The Charleston Daily News, December 15, 1870

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Article Text

Carolina District-In Circuit Court UNITED A STATES OF AMERICA-T. & J. Green vs. Bank of Georgetown, et al. In pursuance of order made in above case, on the 1st of July. A. D. 1870. by the Circuit Court aforesaid, will be sold. in the Town of Georgetown, S. C., on MONDAY, the 19th day of December, 1870, at 12 M., In front of the Courthouse, The REAL ESTATE belonging to the Bank of Georgetown, known and distinguished in the Plan of the Town as Lots Nos. 89 and 90, measuring 151 by 109 feet, with the Banking House and other buildings thereon; and also, at the same time and place, the FURNITURE, &c., of said Bank, consisting of : 2 MAHOGANY DESKS 1 Irou Safe 2 Coin Scales 2 Letter Presses. Terms-For the Furniture, &c., cash; for the Banking House and premises attached, one-third cash, and the balance on a credit of one, two and three years, secured by the bond or bonds of the purchaser, with legal interest from the day or sale. payable annually, and a mortgage of the premises; the premi-ea to be insured and kept insured by the purchaser or purchasers for an amount equal to the amount of the bond or bonds, and the policy of insurance assigned. Purchaser to pay for title and stamps. R. E. FRASER, Receiver. nov26-4tutha6

9. December 17, 1870 The Charleston Daily News Charleston, SC
Article from The Charleston Daily News, December 17, 1870

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PARTE WM. M. ROUSE, TRUSTEE -IN THE COMMON PLEAS. Ex By virtue of an order of Court in this case, to me directed, I will offer for sale at public) auction, on TUESDAY, the 3d day of January, 1871, still o'clock A. M., at the Old Postoffice, Broad street, Charleston, The fellowing named REAL ESTATE: All that LOT OF LAND, with the BUILDINGS thereon, situate on the north side of Vernon street, in the City of Charleston, known as No.16, measuring and containing in front on Vernon street forty (40) feet; more or less, by one hundred and ten (110) feet in depth; bounded north by Lands of south Vernon street, east:1 by Lands of Seignious, and west by Lands of Venning. ALSO, All that LOT OF LAND, with BUILDINGS thereon, situate in. Hampton court, in the City of Charleston, known by the No. 14, measuring and containing forty (40) feet front by eighty (80) feet south in depth; bounded north by Lands of by Hampton court, east by Lands of west by Lands of McGregor. Terms-One-half cash; balance by bond of the purchaser at one year from day of sale, with in terest, and mortgage of the property; Buildings to be insured and policy assigned. Purchaser to pay for papers and stamps. W. J. GAYER, Referee. dec13-tus7 STATES OF AMERICASouth Carolina District-In Circuit Court -T. & J. Green VS. Bank of Georgetown, et al. In pursuance of order made in above case, on the 1st of July. A. D. 1870, by the Circuit Court aforesaid, will be sold. in the Town of Georgetown; S. O., on MONDAY, the 19th day of December, 1870, at 12 M., in front of the Courthouse, The REAL ESTATE belonging to. the Bank of Georgetown, known and distinguished in the Plan of the Town as Lots Nos. 89 and 90, measuring 151 by 109 feet, with the Banking House and other buildings thereon; and also, at the same time and place, the FURNITURE, &c., of said Bank, consisting of

10. February 15, 1871 The Charleston Daily News Charleston, SC
Article from The Charleston Daily News, February 15, 1871

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UNITED STATES COURT.-The District Court was opened at 10 o'clock yesterday morning, his Honor Judge Bryan presiding. In re M. N. Holstein, bankrupt, ex parte A. Ramsay. , Petition to establish a lien. The report of the registrar in favor of the petition was read, and an order for the sale of the property granted. Ex parte F. J. Smith, assignee, in re McCarthy & Roy, bankrupts. Ordered, that the assignee do pay out the dividends declared on the 4th of Feb. ruary, 1871, excepting such as are ordered to be reserved, and that the amount of the debt of Jas. Campbell be fixed at $1003 61-100, and the proper dividend thereon at $138 50-100. On motion, Jno. H. Barnwell, Esq., was admit. ted to practice in the Circuit and D strict Courts of the United States. The case of the Beaufort commissioners was taken up, and M. P. O'Connor, Esq., resumed his argument for the defence. At the conclusion of which, the court adjourned until 10 o'clock this morning. CIRCUIT COURT. The United States Court, for the District of South Carolina, was opened at 11 o'clock yesterday morning, the Hon. II. L. Bond presiding. J. and T. Green vs. the Bank of Georgetown, et al. The report of the special referee was read, setting forth that the receiver, Wm. Fraser, had submitted his report, showing funds in his hands realized from the sales of assets to the amount of $222840, of which $7617 was cash. It was ordered that the receiver pay into court the said cash and credit, and that the clerk tax the costs and pay the same, allowing the receiver $300 for his services, and that the clerk report the names of the claimants and the percentage to which they are entitled. Ex parte Henry Buck, in re J. and T. Green vs. the Bank of Georgetown, et al. The report of the referee, showing an Indebtedness of H. Buck to the bank of $1784 05 and a counter indebtedness of the bank to him of $3275. The report was confirmed, and H. Back allowed to come in and claim his percentage for the balance. The Circuit Court then adjourned sine die.