Bank of Mayesville - Mayesville, SC

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: July 14, 1906
Location: Mayesville, South Carolina (33.988, -80.208)

Metadata

Model: gpt-5-mini
Short Digest: 9c20cdc6

Response Measures

None

Description

State bank examiner ordered the bank closed and a receiver appointed because of discrepancies (~$4,000) and bad management; judge later returned affairs to officers and bank reopened. No run or depositor panic is mentioned in the articles.

Events (3)

1. July 14, 1906 Suspension

Cause: Government Action
Cause Details: State Bank Examiner Holleman found discrepancies (~$4,000) and ordered the bank closed and a receiver appointed due to bad management.
Newspaper Excerpt: The Bank of Mayesville has been closed. State Bank Examiner Holleman ... ordered the doors of the bank closed and the institution placed in the hands of a receiver.
Source: newspapers

2. July 18, 1906 Other

Newspaper Excerpt: I. C. Strauss, Esq., to Take Charge of Bank of Mayesville ... Judge Purdy has issued an order appointing I. C. Strauss, Esq. receiver of the Bank of Mayesville. Mr. Strauss is required to give bond in the sum of $20,000.
Source: newspapers

3. September 12, 1906 Reopening

Newspaper Excerpt: By order of Judge Purdy, the affairs of the Bank of Mayesville have been taken out of the hands of Receiver I. C. Strauss and again placed in the charge of the officers of the bank. ... The bank will soon be open for business.
Source: newspapers

Newspaper Articles (6)

1. July 18, 1906 The Watchman and Southron Sumter, SC

Article from The Watchman and Southron, July 18, 1906

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Article Text

MAYESVILLE BANK CLOSED. BANK ACCOUNTS FOUND IN BAD SHAPE AND ORDERED CLOSED BY INSPECTOR HOLLEMAN. Discrepancy of $4,000 in Cash-Will Be Placed in Hands of a Receiver. Bad Management Alleged. . From the Daily Item July 14. The Bank of Mayesville has been closed. State Bank Examiner Holleman yesterday completed a thorough investigation of the accounts of the bank and found them in such a shape that he ordered the doors of the bank closed and the institution placed in the hands of a receiver. There is a shortage of about 4,000 in the cash and other discrepancies in the books. The bank was organized nearly two years ago with a paid in capital of $14,700. Mr. S. M. McCall was president, and during his administration the bank cleared a net profit of 20 per cent., 8 per cent. being paid to the stockholders in two equal semi-arnual payments and 12 per cent. was placed on the surplus fund. Owing to a determination of the board of directors not to pay the president any remuneration Mr. McCall resigned as a member of the board and refused to stand for reelection. Mr. Croft, of Wilmington, N. C., who owned the controlling interest in the bank, was then made president. After his death, near the first of the year, the board ran without official head until the recent election of Mr. J. M. Johnson of Marion to the presidency. Mr. Robert Chaffin, a very highly respected gentleman, is the cashier. No one thinks of imputing any wrongdoing to him and attribute the cause of the bank's condition solely to bad management. It is understcod that the last quarterly report shows that the amount of the bank's loans were in excess of the capital stock and the deposits. From the best source obtainable it is learned that all of the depositors will be paid in full, and that the loss will be confined to the stockholders, who will be out about 50 per cent. of the paid in capital stock. Mr. Chaffin is under bond in a relia: ble company for $10,000.

2. July 18, 1906 The Watchman and Southron Sumter, SC

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Article Text

RECEIVER APPOINTED. I. C. Strauss, Esq., to Take Charge of Bank of Mayesville, At the request of State Bank Examiner Holleman, Judge Purdy has issued an order appointing I. C. Strauss, Esq., receiver of the Bank of Mayesville. Mr. Strauss is required to give bond in the sum of $20,000.

3. July 19, 1906 The Bamberg Herald Bamberg, SC

Article from The Bamberg Herald, July 19, 1906

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IN THE PALMETTO STATE. INTERESTING OCCURRENCES OF VARIOUS KINDS IN SOUTH CAROLINA. State News Boiled Down for Quick Reading Pungent Paragraphs About Men and Happenings. Dr. Rupert Blue, of Marion, now in the United States hospital service, will be sanitary officer at the Jamestown Exposition. In a wreck on the Central of Georgia railway near Marshalville, Ga., Monday three men lost their lives. The wreck was caused by foul play. Governor Glenn, of North Carolina, has ordered a special term of Rowan Superior Court, to begin July 30th, for the trial of the five negroes charged with the murder of Isaac Lyerly, his wife and two children Friday night. George Shaver, young white man, was convicted in Spartanburg last week of the combined charge of marrying a girl under age and perjury. He got five years or $400 fine on the first charge and one year or $100 on the second. A woman attempted suicide in Columa bia last Sunday by jumping in front of street car. Her name was not learned. She had a little child in her arms at the time. Her attempt was frustrated by the motorman stopping the car. The Anderson Traction company has decided to extend the street car line to the Gluck mills three miles south of Anderson. The line at present runs as far as the Orr mills and will be extended from that point southward. The extension will cost about $20,000. Three baggage masters of the Southern Railway running from Charleston to Columbia, have been caught up with in their stealing from baggage, which has been going on for years, and discharged. The men admitted their guilt, but they will not be prosecuted. Randolph Rory shot and killed Kate Adaison, last Saturday evening, near Ashland, in the western part of Darlington county, because she refused to allow him to walk home with her. Both parties are colored. Rory made good his escape immediately after the shooting. The publication committee of the United Synod of the Southern Lutheran church recommended the establishing of a `publishing house in Columbia, and Synod endorsed the proposition. This means be that the Lutheran Visitor will soon published in a home of its own. The Bank of Mayesville, at Mayesville, Sumter county, has been closed by Bank Examiner Holleyman. There is a discrepancy of $4,000 in the books which cannot be accounted for. It is not thought the stockholders will lose anything, and the bank may resume business. A. H. Willis was shot in Abbeville Saturday night by Luther Scott, aged 17. Both are white. Willis was entering the window of the room occupied by Scott's mother when Scott came home and saw him. He immediately opened fire. One ball took effect and Willis was thought to be seriously hurt, but later reports say he will recover. Both work in the cotton mill. Scott was placed in jail. Mary Brunson, colored, was shot and killed Sunday afternoon by her brother, Olando Brunson, at Shannontown, a negro settlement, two miles from Sumter. The killing is said to have been an accibut as a crowd of negroes and carousing at dent, drinking Brunson's were house it is impossible to obtain a satis. factory account of the affair. The woman was shot through the body and lived but a few minutes. Brunson has been arrested and committed to jail. , William Williams, colored, fell from the top of one of the vertical boilers in the boiler room at the Olympia mill in Columbia Monday and was instantly killed. He had been engaged in blowing out the tubes of the boilers, which necessitated his getting on top of them and with a hose and nozzle blowing out the interior of the shells with steam. He had finished his work on one of them and was stepping across to another when he fell to the concrete floor below, a distance of about 30 feet. Webster's Retainers. This M Neson sunerintendent of

4. July 25, 1906 The Manning Times Manning, SC

Article from The Manning Times, July 25, 1906

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THROUGH THE STATE SHORT NEWS ITEMS FROM ALL OVER SOUTH CAROLINA. A Batch of Information in Condensed Form for Busy Readers. The Lutberan Synod will establish 3. large publishing house in Columbia. Southern train No. 29 ran over and killed an unknown negro at Winnsboro, S. C, Sunday night. The Bank of Mayesville, & small institution, has been closed by order of State Bank Examiner Holleman. De positors will get their money in full. The town of Belton is to have an opera house. W. K. Stringer, bank president, has already let the contract for building it. J.H Sloan president of the American National Bank, of Spartanburg, and also of the Southern Trust Co., of that city, died last Thursday. Sixty-five personsons attended the state campaign meeting in Georgetown on Saturday. Dick Watson was killed with a rezer by Willie Bull-both coloredin Darlington on Saturday. Reuben Ford, a negro section hand, was run over and killed by a train at Union on Saturday. The total stealings by Treasurer Hughes of the Union Building and Loss association amount to $60,008. E:vin Crane, aged 18, of Pine Mountain, Ga., was run over by a train in Walhalla and died from his injuries on Friday. Rev. J. S. Moffstt of Chester is prominently mentioned as the probaable successor of Dr. F. Y. Pressley as president of Erskine college. A negro was run over and killed near Winnsboro by the Southern's fast mail on Sunday night. He had fallen asleep on the track. The grand jury of Spartarburg have presented the conductor and en gineer of a freight train on the Southern for running the train on Sunday, and they will be prosecuted. Commissioner Tatum has appoint ed Lucius L Bultman of Columbiauntil recently a beer dispenser-to succeed the late Jas. T. Parks as a clerk at the state dispensary. Asron P. Prioleau, colored, late contestant for a seas in congress, was committeed to jail in Charleston on Friday to serve a sentence of three months for tampering with the mails vhile ru sning as 3 postal clerk on the atientic Coast Line. According to & story in The State of Tuesday, & negro woman named Nettie Brooks, said to be from Greenwood, was guilty of the most inhuman of crimes, infanticide, having scalded 2 new born babe to death in her cabin in Columbia Sunday night. Mr. S. A. Pressley, of Due West, has only recently accepted a professor ship in an Egyption college, the College of Assut, at Assut, Egypt and is now on bis way to begin work in that institution. The town of Assut has about 40,000 inhabitants. The co!lege has an enrcliment of about 850 students and has a high standard of instruction.

5. July 27, 1906 The Marlboro Democrat Bennettsville, SC

Article from The Marlboro Democrat, July 27, 1906

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Article Text

THROUGH THE STATE SHORT NEWS ITEMS FROM ALL OVER SOUTH CAROLINA, a Batch of Information in Condensed Form for Busy Readers. The Lutheran Synod will establish a large publishing house in Columbia. Southern train No. 29 ran over and killed an unknown negro at Winnsboro, S. C, Sunday night. The Bank of Mayesville, a small institution, has been closed by order of State Bank Examinor Holleman. Do. positora will got their money in full. The town of Belton is to have an opera house. W. K. Stringer, bank president, has already let the contract for building it. J. H Sloan president of the American National Bank, of Spartanburg, and also of the Southern Trust Co., of that city, died last Thursday. Sixty five personsons attended the state campaign meeting in Georgetown on Saturday. Dick Watson was killed with a razio by Willie Bull-both coloredin Darlington on Saturday. Reuben Ford, a negro section hand, was run over and killed by a train at Union on Saturday. The total stealings by Treasurer Hughes of the Union Building and Loan association amount to $60,008. evin Crane, aged 18, of Pine Mountain, Ga., was run over by & train in Walhalla and died from his injuries on Friday. Rev. J. S. Moffatt of Chester is prominently mentioued as the probaablo successor of Dr. F. Y. Pressley as president of Erskine college. A nogro was run over and killed near Winnsboro by the Southern's fast mail on Sunday night. He had fallen asleep on the track. The grand jury of Spartar burg have presented the conductor and en gineer of a freight train on the South. ern for running the train on Sunday, and they will be prosecuted. Commissioner Tatum has appoint ed Lucius L Bultman of Columbiauntil recently a beer dispenser-to succeed the late Jas. T. Parks as a clerk at the state dispensary. Aaron P. Prioleau, colored, late contestant for a seat in congress, was committeed to jail in Charleston on Friday to serve a sentence of three months for tampering with the mails while running 88 a postal clerk on the Atlan le Oeast Line. According to a story in The State of Tuesday, a negro woman named Nettle Brooks, said to be from Green. wood, was guilty of the most inhu. man of crimes, infanticida, having scalded a new born babe to death in ber cable in Columbia Sunday night. Mr. S. A. Pressley, of Due West, has only recently accepted a professor ship in an Egyption college, the Col. lege of Assut, at Assut, Egypt and is now on his way to begin work in that institution. The town of Assut has about 40,000 inhabitants. The college has an euroliment of about 850 students and has a high standard of instruction.

6. September 12, 1906 The Watchman and Southron Sumter, SC

Article from The Watchman and Southron, September 12, 1906

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Article Text

By order of Judge Purdy, the affairs of the Bank of Mayesville have been taken out of the hands of Receiver I. C. Strauss and again placed in the charge of the officers of the bank. The showing made by the bank established the fact that at no time had it been in an insolvent condition. The bank will soon be open for business.