38d062b5Full suspension
Other: Receiver appointed; deposits paid in dividends over time.
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Saluda Bank Closed Columbia, Oct. Farmers Bank of Saluda failed open its doors Albert state bank today The of twelve other banks section of caused the Slauda bank The bank contained about 000 deposits of June 30. the bank and had and liabilities listed in state funds deposited the bank properly secured. Scarborough, state treasurer. said.
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FARMERS BANK AT SALUDA IS CLOSED COLUMBIA, Oct. Farmers Bank of Saluda failed to open its doors this morning. Albert S. Fant. state bank examinannounced today The collapse of twelve other banks in the same section of the State, which caused run the Suluda bank yesterday, was given as the cause The bank contained about $290.OCO in deposits as of June 30, the bank examiner said, and had sources and liabilities listed at $377000. Approximately $60,000 in state funds deposited in the bank are properly secured. J. H. Scarborough, ste treasurer, said.
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Delays Hearing On Sale Confirmation Kenneth M. Brim, referee in bankruptcy in the case of the Guilford Lumber company. bankrupt, has continued until Thursday, October 22. at 11 o'clock, the hearing which he will hold on the confirmation of the sale of the lumber company's property Action in the matter was expected to be taken at meeting yesterday afternoon. but it was decided at that time to defer the matter for one week. HOTEL MEN MEET. Officers and directors of the Southern Hotel association from different sections of North Carolina, South Carolina and Virginia were scheduled for their fall meeting in the headquarters of the association in the North Carolina Bank building at o'clock this afternoon. BANK FAILS TO OPEN. COLUMBIA. S. C., Oct. The Farmers bank of Saluda failed to open its doors today, Albert Fant state bank examiner announced here The collapse of 12 other banks in the same section of the state which caused run on the Saluda bank yesterday, was given as the cause
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FARMERS BANK OF SALUDA FAILS TO OPEN ITS DOORS COLUMBIA Oct. The Farmers bank of Saluda failed to open its this morning, bert S. Fant, state bank examiner announced today. The collapse of 12 other banks in the same section of the state, which caused run on the Saluda bank was given as the
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BANK AT SALUDA CLOSES ITS DOORS State Examiner's Order Leaves Town Without Banking Facilities. Special to The Saluda, Oct. Farmers bank failed to open its doors this morning on order the Albert silent have caused action for The of the Farmers bank. by June last, leaves Saluda without any facilities. Officers the are: Crouch. president; Padgett, vice cashier, and former president of the South Carolina Bankers' The bank lists capital stock of 000 29 were listed $318,000. Albert state bank examyesterthat the Farmers bank of Saluda its The other banks in the the state, which run the Saluda bank Thursday, the Julian state treasthat about state deposited in the bank, were properly secured.
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BRIEF CITY NEWS New Saluda Bank Is Receiver Saluda, Nov. 4. -At a meeting of the depositors here of the defunct Farmers bank of Saluda, the Saluda County bank, a newly organized institution, was named the receiver, with an advisory board or committee to be selected by the depositors at a later meeting. This committee will be five in number and will be selected from members of the depositces. Only one member of the committMee was elected at yesterday's meeting, Dr. T. B. Matthews, who will act as chairman. The officials of the Saluda county bank was given out at the meeting, They are: J. J. Wheleer, president and cashier: J. A. Nichols, vice president. The directors are: L. E. Wheeler. L. M. Grigsby, J. A. Nichols, J. B. Sloan and J. B. Harris. The latter two directors, it was stated, are from Greenwood. The new bank will occupy the same building as the defunct bank, It was stated. G. R. Tolbert Found Guilty G. R. Tolbert. of Abbeville county, was found guilty of violation of the prohibition law by a jury in Federal Court on Tuesday and was sentenced by Judge Watkins to serve six months in the Newberry county jail, beginning Friday of next week. Mrs. Tolbert was found not guilty and a verdict of not gulilty was directed for Miss Josie Toibert by Judge Watkins because she was a minor. Father, mother and daughter were indicted jointly. Lions Club Meets at Six O'clock The Lions Club will meet at the Oregon Hotel this evening at 6 o'clock. Members are asked to note the change in hour. Judges Selected To Award Prise For Name Of Play The person suggesting the most appropriate name for "The Play Without a Name" which is to be presented at the high school auditorium Friday night, will be presented with a cash prize of ten dollars in gold. The committee to make this decision is composed of Mr. Eugene Blake, Mrs. S. A. Porter and Mrs. E. A. Adams. The winner of the prize will be announced in Sunday's (ssue of the Index-Journal. Provisions for Orphanage Following is fro mthe Keowee Courier of Walhalla: The present world-wide depressign has not only made it hard for business to succeed. but has also made It exceedingly hard for charitable and benevolent institutions or organizations to exist. At present we know money is scarce in our county, while at the same time in most parts of the county food stuff is in abundance. We are now coming to the Baptist churches and Sunday schools of the rural sections of the Beaverdam Association in behalf of our own Connie Maxwell Orphanage. We hope that sometime during the month of November every rural Baptist church and Sunday school in the Beaverdam Association will try to collect all the syrup, peas, corn. meal, wheat, flour or any kind of food stuff available, so that a shipment can be made by the last of November or the first of December. Please sack or crate all produce ready for shipping Thanking you in advance for any consideration you give this most important matter. Associational Orphanage Man.
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BANK OPENED Total Of $53,878.48 Is Deposited On First Day Of Busi- ness SALUDA, Nov. The opening of the Saluda County bank Monday morning proved indeed gra tifying. Promptly at 9 o'clock the doors of the new banking institution were opened for business in the former quarters - the Farmers Bank of Saluda, which is now in 11quidation under the direction of the new bank as receiver for the de. funct institution Officials of the bank are highly pleased with the patronage on the first day of busistatement the amount ing day shows that $53,878.48 was deposited in the institution during the day. The amount of cash on hand at the close of the first day of business was $81,387.72. Very unusual for a bank statement these days, there were no loans and discounts. Deposits Tuesday swelled the total of deposits to a considerably higher figure. Yesterday being Armistice day. legal holiday, the institution was closed. The spiendid showing of the new bank, the first banking institution Carolina in many a day. speaks well for the sturdy financial conditions of despite in monetary way else could strikngly faith confidence of of the county in the new banking house and in bright future for Saluda and Saluda county. Certainly property and are now at or very close to their bottom level, and in view of this quite apparent fact the Saluda County bank with no deflated paper or "frozen assets" to carry along is one of the safest banking institutions that can be found any where inside the state or outside of Fortunate in its financial strength and in having men of un+ questioned integrity and reputation for fair-dealing as well as exceptional business ability at its head can be depended upon that the splendid showing of the Saluda County bank its first day of business is but a beginning and that much more money will be deposited in the institution soon by people from a wide area of this section of the state. The men who head the new bank have proved themselves through good times and lean times to be among the most successful business men in South Carolina Fortunate indeed are Saluda and Saluda county to have this strong banking institution directed and backed up by men of such outstanding business ability and success. The officials of the bank are as follows: J. Wheeler. president and cashier: J. A. Nichols. vice president: J. A. Nichols. L. M. Origaby L. E. Wheeler, John B. Sloan and J. B. Harris, directors.
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Receivers Of Bank At Saluda To Pay A Final Dividend County Bank, receivers for the Farmers Bank of Saluda. which closed its doors on October 15. 1931. an Lounced a final dividend payment of 25 per cent. The dividend checks will be dated April 2 and will be ready to be handed out to depositors on April 10. This final dividend payment will be 25 pes cent of the original amount on deposit. and will bring the total amount paid to depositors by the defunct bank to 50 per cent.