Peoples Bank - Walhalla, SC

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: January 1, 1910
Location: Walhalla, South Carolina (34.765, -83.064)

Metadata

Model: gpt-5-mini
Short Digest: e2af5a07

Response Measures

None

Description

Article (Keowee Courier, 1910-01-05) reports the People's Bank briefly 'closed business' around Jan 1, 1910 due to the president's desire to retire and no successor being chosen. The bank had reopened by the time of the article (early January 1910). No run or depositor panic is mentioned. Cause classified as voluntary_liquidation because the closure was driven by the president's intent to retire and consideration of liquidation.

Events (2)

1. January 1, 1910 Suspension

Cause: Voluntary Liquidation
Cause Details: President W. A. Strother wished to retire and no successor had been chosen, prompting an announcement that the bank had closed business.
Newspaper Excerpt: the announcement was made that the People's Bank had closed business.
Source: newspapers

2. January 4, 1910 Reopening

Newspaper Excerpt: the bank is again open, Mr. Strother having agreed to continue as heretofore until his successor can be chosen.
Source: newspapers

Newspaper Articles (1)

1. January 5, 1910 Keowee Courier Walhalla, Pickens, SC

Article from Keowee Courier, January 5, 1910

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Article Text

THE CHANGE AT PEOPLE'S BANK W. A. Strother Wishes to Retire from Presidency-usiness to Continue. The local patrons of the People's Bank were surprised last Saturday when the announcement was made that the People's Bank had closed business. W. A. Strother, the president of the bank, desires to retire from that position in order to be relieved of the strain of active business, and it was his purpose to retire January 1, 1910. However, no one as yet has been chosen to assume the presidency, and the bank is again open, Mr. Strother having agreed to continue as heretofore until his successor can be chosen. He was seen yesterday, and on inquiring of him as to the future plans of the bank he said: "The People's Bank has just paid its regular annual dividend of 8 per on its capital stock of $30,000, making $2,400, and placed $1,500 to the surplus fund. This makes the capital stock stand at present $37,500. The bank has made money for the stockholders, and the value of the stock Is now $125 per share. The institution is In better condition than ever before. Business will be continued as heretofore until some satisfactory person can be elected to take charge as president in my place. It is my desire to retire from the real activities of business. I want a rest." Mr. Strother, who has financed the institution for' a number of years, thinks his health will not permit of so much work. and he with the stockholders and directors are now looking for one of their number with sufficient stock holdings to take his place. Mr. Strother also mentioned that he could easily liquidate, but this at once brought on a protest of all the stockholders, and many disinterested parties, SO he will remain as usual until some good man in whom every one will have confidence can be placed at the helm. The People's Bank has done a splendid business from its start, and has proven to be a great benefit to the business interests of the town. The public generally will be glad to learn that there is to be no suspension of the business. Mr. Strother has made an able president, and his retention in that position would be of signal benefit to the bank. Whoever may be chosen to succeed him, his retiring will come as a source of regret.