Article Text
ENTERS SUIT AGAINST TWO BANK OFFICIALS ORANGEBURG S. C., Jan. P)-Suit against F. A. Adden. president. and Scoville Wannamaker. cashier. of the Southern Bank and Trust Company, which closed last
20170. Southern Bank & Trust Company (Orangeburg, SC)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- trust company
- Start Date
- September 1, 1931*
- Location
- Orangeburg, South Carolina (33.492, -80.856)
Metadata
- Model
- gpt-5-mini
- Short Digest
7dbd84ab
Response Measures
None
Description
Articles state the Southern Bank & Trust Company closed and went into liquidation in September 1931; later actions by a receiver and suits against officers are described. No article mentions a depositor run as the triggering event; failures attributed to losses in stocks and bonds.
Events (3)
1.
September 1, 1931*
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Losses from declines in value of stocks and bonds in which the bank had invested its funds, leading to liquidation in Sept. 1931.
- Newspaper Excerpt
- The Southern Bank and Trust Company went liquidation September, 1931.
- Source
- newspapers
2.
January 5, 1932
Other
- Newspaper Excerpt
- ORANGEBURG S. C., Jan. P)-Suit against F. A. Adden. president. and Scoville Wannamaker. cashier. of the Southern Bank and Trust Company, which closed last ... (Florence Morning News, 1932-01-05).
- Source
- newspapers
3.
September 6, 1934
Receivership
- Newspaper Excerpt
- Bank Receiver Takes Action Under Recent Court Order. ... Henry Sims, Receiver, who said he was acting under an order of the cuit Court recently signed by Judge M. M. Mann. The Southern Bank and Trust Company went liquidation September, 1931. Stockholders the Southern Bank and Trust Company ing called to their statupon utory liability ... Stockholders unable to pay the entire amount of their liability may Receiver benefit of an installment plan ... the assets of the will not able to pay the full, the stockholders being called upon for their liability. (article dated 1934-09-06).
- Source
- newspapers
Newspaper Articles (2)
Click image to open full size in new tab
Click image to open full size in new tab
Article Text
For Stock Liability Bank Receiver Takes Action Under Recent Court Order. Stockholders the Southern Bank and Trust Company ing called to their statupon utory liability, according made by Henry Sims, Receiver, who said he was acting under an order of the cuit Court recently signed by Judge M. M. Mann. Stockholders unable to pay the entire amount of their liability may Receiver benefit of an installment plan, lowing them to pay the amount due October 1934, and similar amount 15th, April 15th, and July 15th, 1935. do not pay or make any before 15th will be liable to suit by the ReThe Southern Bank and Trust Company went liquidation September, 1931. The bank's ficulties arose from losses the value stocks and bonds in which the bank had invested its funds. Up to time dividends been paid the depositors in amount equal to half of their posits and holds of indebtedness and property from which hopes pay further reasonable estimate the probability indicates that the assets of the will not able to pay the full, the stockholders being called upon for their liability.