20229. Bank of Woodruff (Woodruff, SC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 5, 1933
Location
Woodruff, South Carolina (34.740, -82.037)

Metadata

Model
gpt-5-mini
Short Digest
2ccde8d4

Response Measures

None

Description

Newspaper articles identify C. M. Drummond and J. E. Brockman as receivers for the Bank of Woodruff and show receivers selling bank property. There is no mention of a depositor run in the provided excerpts. The bank was in receivership (closed) by August 1933 and property was being sold in September 1933, so this is classified as a suspension leading to permanent closure/receivership. 'State' chosen because the name lacks 'National' or 'Trust' and is most consistent with state-chartered banks.

Events (2)

1. August 5, 1933 Suspension
Cause
Government Action
Cause Details
Bank placed in receivership; conservators/receivers appointed (bank closed and under receivership).
Newspaper Excerpt
Drummond and Brockman, as receivers for the Bank of Woodruff.
Source
newspapers
2. September 1, 1933 Receivership
Newspaper Excerpt
master to J. E. Brock and C. M. Drummond, as receivers for the Bank of Woodruff, for $500, property in the Chick Springs township.
Source
newspapers

Newspaper Articles (2)

Article from The Gaffney Ledger, August 5, 1933

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Article Text

FARM GOVERNOR TO SPEAK AT CAPITAL Henry Morganthau, Jr., to Address Bank Meeting Monday. Spartanburg, Aug. 3.-Henry Morgenthau, governor of the farm credit will speak at Columbia Monday meeting of officials of both liquidation farm credits benefit both farmers and bank depositors. This learned here Thursday from official connected closed bank this counNotices of the meeting have mailed out by Miller, state bank examiner. meeting of the preliminary in Columbia on July 18 when liquidafarm paper held by closed banks primary subject discussed. The farm paper held by closed banks will benefit the farmer by giving longer time lower terest retire his debt and will also benefit the depositor the closed bank by making ready cash for dividends. Only Spartanburg, Darlington Florence County bank officials participated in the first conference. result, praisers have been work county for the two weeks making inspections paratory per, was learned GenHarris, connected the credit The meeting, which Mr. Morgenthau will attend, will held the Jefferson Hotel at o'clock, according the notices. Officials representing banks and other financial requested to bring their farm credits to the conference. not known how many Spartanburg men will attend the meeting. large group attended initial conference on July Among them Albert Lohm, for the First tional Bank; Campbell, olina National Bank, Boyd the Southern Trust Company; Cannon, SparBank, conservator; Horace Bomar H. B. Chap man of the Central National Mr. Harris, Farm Credit here; R. Westmoreland, Employes Savings Bank, Pacolet; Gray, Woodruff First NationBank; Wolfe, Inman Bank receiver; Hatchett, of Chesnee, farm credit field resentative; John Landrum, Bank of Landrum; Drummond and Brockman, Bank of Woodruff receivers; and O. Hines, Bank of Chesnee receiver.


Article from The Greenville News, September 1, 1933

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Article Text

County Real Estate Is Sold For $4,506 A valuation of $4,506 was placed on the Greenville county real estate transferred yesterday Included in the four realty transactions recorded by Ira A. Gresham, register of mesne conveyance. were the following E. Inman master to J. E. Brock and C. M. Drummond, as receivers for the Bank of Woodruff. for $500, property in the Chick Springs township. W. P Nesbitt to E. A. Coker. for $1, property in the Fairview townMary O. Drummond to Drummond, for $5, property in the Fairview township.