Planters Bank - Sharon, SC

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 31, 1931
Location: Sharon, South Carolina

Metadata

Model: gpt-5-mini
Short Digest: 87899710

Response Measures

None

Description

Article reports the Planters Bank of Sharon failed to open after completion of an audit (Jan 31, 1931). No run or reopening mentioned. The audit wording suggests action by banking authorities, so classified as a suspension likely resulting in permanent closure (1931 banking environment makes permanent closure plausible). If more articles showed reopening or receivership, classification should be updated.

Events (1)

1. January 31, 1931 Suspension

Cause: Government Action
Cause Details: Failed to open following completion of an audit by banking authorities; closure appears tied to audit findings.
Newspaper Excerpt: Bank Fails to Open. SHARON S. C., Jan. 31 (A')-The Planters bank, of Sharon, failed to open today following completion of an audit the banking The bank listed deposits of $127,000.
Source: newspapers

Newspaper Articles (1)

1. February 1, 1931 Chattanooga Daily Times Chattanooga, TN

Article from Chattanooga Daily Times, February 1, 1931

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Article Text

HEAVINESS MARKS STOCK MOVEMENTS Government Bonds Continue Weak Stand.- Departure of January Finds Securities Weakened by Bonus Reports. NEW YORK, Jan. 31 of stocks and weakness of United States government obligations marked the departure of January on the securexchanges today. The half dozen shares which had been swinging in wide range for sevoral days lacked bullish sponsorship and with their example removed the remainder of the stock list sagged. The turnover approximated only 800,000 Possibility of an extra session of congress and growing concern in banking circles over the cash bonus question doubtless influenced the speculafive mind. Domestic bonds steadied moderately but liberties and treasury certificates reacted Extreme declines in the erratic spedalties ran to nearly 6 points, with Auburn Auto making the maximum dip. That stock sagged 2 points in the early dealings, recovered its loss, broke 5% and closed 3½ off Worthington Pump dropped 4%. but managed to reduce its loss to fraction. Chemicals were soft, Allied losing 3, du Pont 1% and Cohumbian Carbon 2. Eastman's net loss was 2% and Ingersoll Rand's 5. flutter of covering just before noon slightly reduced the setback in the more stable issues. Steel production apparently is just about able to hold its own. Activity in the Youngstown district next week estimated 49 per cent. capacity unchanged from the current week, dicating that the demand is still and confined comparatively few lines. The surfeited condition of the shortterm money market caused a oversubscription to the treasury's $60. 000,000 bill offering. which was sold at the record low average yield of per cent. on a bank discount basis. It this surplus of funds which had been helping the bond market prior to the sudden attack of nervousness over the bonus Commodity prices sagged. Wheat ended the day unchanged to %c lower, reflecting forecasts of rain in Kansas and small export demand Corn dropped %0, while dull cotton market showed net losses of to points Foreign exchanges were narrowly irregular, with unimportant changes. Foreign Exchanges. NEW Foreign exGreat Britain in France, demand Italy. cables Belgium. JugoMexico Silver. NEW Bank Fails to Open. SHARON S. C., Jan. 31 (A')-The Planters bank, of Sharon, failed to open today following completion of an audit the banking The bank listed deposits of $127,000. Stock Averages. (Copyright, 1931, Standard Statistics Company.) Indus, Today day Week years (1929)