Bank of Charleston (Charleston, SC)

Episode Information

Episode UID
3373208490732
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
337320849 hash
Start Date
December 1, 1860*
Location
Charleston, South Carolina (32.777, -79.931)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
eb7ff8570346a95b

Response Measures

None

Description

Sources show the Bank suspended and reference impaired investments; no clear evidence of reopening or receivership—additional articles could confirm final outcome.

Events (2)

1. December 1, 1860* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Trustees invested deposits in depreciated securities (bonds, stock, mortgages) making liquidation at market rates impossible, prompting suspension.
Newspaper Excerpt
The Bank of Charleston has suspended, ... the Trustees ... say they have invested deposits in ... bonds, stock, mortgages ... so low they cannot dispose of them except at ruinous rates.
Source
newspapers
2. December 12, 1860 Other
Newspaper Excerpt
Bank of Charleston, S O., resumed spe Mercury The the 12th inst and the cie payment its example on will shortly be followed ... The Charleston Mercury of the 14th inst. says: In yesterday's issue it was stated that the Bank of Charleston had resumed specie payments. This announcement ... was premature.
Source
newspapers

Newspaper Articles (3)

Article from The Daily Dispatch, December 15, 1860

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Article Text

SECESSION MOVEMENT AT THE The GovFortificat our at Charleston , be in Move The Strengthening View at th. South erument A Northern Southern ments Wrongs. &c., & &c. Bank of Charleston, S O., resumed spe Mercury The the 12th inst and the cie payment its example on will shortly be followed Perry, by of thinks the other Bank> of the city. Charleston (tov. The S Florida, is at present in Columbia, has created panic at would small pox it was thought the Legislature vesterC. and to Charleston, probably, of Comadjourn In the North Carolina House adopted that day. resolution has been sign mone, branches a of the Legislature Legislature shall and both send to the South Carolina would confer with a paper asking if that body Southern States, North Carolina, and all the of the order that an honorable adjustment may in difficulties be tween the States Union preserved. be present effected, and a The constitutional Columbia (S C.) palate. thus in be noticing this action, say at too Norfolk, pers, leading men of all parties to call The requested the Mayor designated Va. public meeting. having he has done so, Ready and Men Norfolk held meeting 'hursday night next. The this week, and enlis be dito one hundred men companies, more. The four force of is bas which rented are vided into eight to be uniformed The organization to be five hundred at strong next their a drill room, and meeting expect At their meetresolutions expressive attachment ing the other to night the Union and the South were adopted. FORTIFICATIONAL OF ARLESTON HAR THE BOB-ACT VITY THEREIN a descrip forti in The Charleston casions Mercury of the harbor them. and the some tion of the of what enclosed is going on water battery, Moultrie is an south, or water side, u about having frout feet, and depth of ab and sides, of It is buil with is admirably adapted party on all either from the attack The are and walls inner defence, or by regular app brick. capped with and in eart filled The in in cleanir the saud the of fort walls ditching around and unterence, in up the closing past instead cutting entire circ the postern gates sally on and utheast west walls, and strong works in which hown which lead into southwest angles. will pounder guns sweep twelve enabling the garrison grape and placed, sides with has on three angle of the fort sustain The lengthened nor by a basi which command has weight of heavy gun the Island The and trauce cut the main street also been better the door On and the north side, been have placed gether wooden the lade, of as possibly battery many good men guns the ing ugly and thick, feet three of wD the from the walls A the we one been has them The is solid of formed pleted ther, the subs has plank been Against this wooden B placed. the In by that every obser guls are this time, and that the very certain hopes sider, mind with make his and ceremony the vancing which Adies upon the tal of Empire Celestial Jul. ago Gardner, R July the war, Hawk Gene of rank B be ember made On and his gallant lino del Rey. other Major the battle of Abuer Doubleda Capt Sevmour N fficers are Captain Lieu Talbot, Lieu Lieut G Foster Capt. Davis, Artillery Engineer Surgeon Assistan Lieut.G Regimen W Soyder S. of W. Crawford, of Staff of consist gentlemen, Medical under these companies the two not fall, The force, of Artillery The compri abou only men, short bind the ag time cluding but were expected, it now and the for at be least, present ibe id of work masonry, the of row double port and the on south guns, the stands middle land side, holed for musketry of the ship channel, loop harbor, on the edge proof he be bomb garrison. There and s eaid any regular one hun. without of wordbox all-busily employed large and force fifty in and otherwise order dred the guns in mounting strategic point consists this great Fort Sumter formidable many which The armament of them being the throw eigher shot inch which guns, Coll umbiada, have a tearful range shell, few of and these are yet in this catibre Only aunting pieces irily slow one. There also the casema work necess of artillery stores and 40,000 the large amount lbs. of wder, shell and of about quality of shot proportionate here sleep int regular workmen gaged the want any side. and every The night, owing with the city The of whart 10 8 cross exposed communication landing south fire from all the openings the southern on Castle that side. Pinckney is located slip on of marsh land, Hog excremily of narrow northerly direction side the which xtends in To the harbor thas Island Channel cular front. roximi as a fortress called Castle considered presents of much conseq y to ine im portance, never been although its properly armed observation would give it From basty mount garr Frisoned about fitteen guns them are flud and that there are the majority of Some on the parapewenty-four pounders. within the walls. eighteen and are, howe powder, shot -Columb blads' supplies of garrison the There are also there is no two watchAt present are one light shell only residents of the harbor post the have charge day laborers are em Some repairing the men, who thirty or forty cisterns and putting the place ployed generally in ATEMENT order. OF SOUTHERN GRIEV A NORTHERN BT ANCES Me Union.) For twenty [F from five the years Bankor the pulpit, the school.


Article from Newbern Weekly Progress, December 25, 1860

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Article Text

THE BANK OF CHARLESTON.-The Charleston Mercury of the 14th inst. says: "In yesterday's issue it was stated that the Bank of Charleston had resumed specie payments. This announcement, as we have since learned, was premature. The mistake was owning to a current rumor to that effect, bnt which, it seems, had no foundation other than in the fact that the Bank of Charleston, since the day of its suspension, has always been ready to accommodate its customers with specie for the promotion of their business and commerce,"


Article from The Weekly Lancaster Gazette, January 24, 1861

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Article Text

ju he was glad to know that Holt was coer. b cionist enough to sustain Anderson, astonishes Southern Senators. Crittenden C said the government which dared not use H was worthless. no marrow bones of the ze from He venerable coercion There is when Senator necessary. in the Kentucky. in SIGMA. is all grit. t N The Existing Crisis-Events and Opinions North and South. A Charleston cor respondent of the New York Tribune, writing on the 13th inst., says: The rebels think they can take the fort, are to it. of Fort Sumter idea and of the quite impregnability ready undertake The rests on a sufficient garrison with enough to eat. The Fort should have not less than 200 men; it has now not more than service. How continue 75 that fit number for effective will effective with- long out fuel, others can estimate as well as can. Thus cooped up, Major Anderson and his little garrison are compelled to witness in every the 18 all around going for their hour forward destruction. of the day, Heavy them, preparations guns designed ar le rive, and are transported to the batteries II ranging on the fort every hour. Thus the h weight of metal which decides the breach so ing account is increasing continually. As al yet, I do not believe that the means of breaching Sumter's walls are at hand. re The nearest batteries are a mile distant. it, But the exhaustion which a on on ur as could rison, and ing kept the fort up, would would the produce bombardment general open- garprobably be for many hours, io, would, it is argued, ineapacitate the garas rison for a successful defense at the moV- ment of the assault. WS FLOYD'S INSTRUCTIONS TO MAJ. ANDERSON. ed The last instructions sent to Major An n. to act on ion the say the day after in sive, lutely. derson but require They to maintain him his position the defer- Major resocommand from ng to Sumter. Mr. ers Fort Anderson him Moultrie this transferred Fort his Floyd sent brutal to runor that have riyour guns, your and There is a burned dispatch: you carriages, spiked the moved to Fort Sumter. If so, you have violated your orders. Answer immediby ately. To which the gallant Major Ba it the ia, following reply, substantially: the I did spike my guns, I did burn my remove to eatin the of du rate carriages, Fort Sunter, I did discharge my command my ty. GA. The traiter was thus both circumvent ed and snubbed. 8. HOW MR AIKEN WAS ROBBED OF $40,000 will A brief dispatch has already stated tha the Hon. William Aiken of South Carolna del one of the wealthiest men in the State an lay an opponent of secession, has been com 80. pelled to contribute $40,000 the dis tled cause. Star thu sion. the extortion was Pa. describes ed: union how The Washington to manage UnMr. Aiken was notified that he ob expe ted to advance forty thousand do the end, and his eve. or no:, as he outh did not have the advance ding lars that that he plead might please; money. right resiwas notified void assessed that and that he had been asses had promptly He been then notified promptly amount and that must Sece il af of it raised that under amount penalty and having promptly by pay and f N. colin worth tim Rates, save that from as immediate property much. confiscation To Charleston, sale many utter of de lock raise the amount House ed, it remarked that be better was a asury truction, would and in he paying did if he journeym deman his A. carpenter at the a than plane, at $2 per North day shoving wages, jac 20. South Carolina Millionaire he befo perit was to reduce the und on e a 11e is ugu. military suspected;" essayed despotism. South now was "one the hls course in come soem to be pleased with the sap loan earned him the having paying refusing dangero fore morn reputation of being disaffected to taken cause. Three As an excusa for such robberies, here. traitors plead that their governments ef of costing them $15,000 a day. May. REPUDIATION IN CHARLESTON, A is go There seems no end to repudiation riflas bad faith in South Carolina. The alry the per to the North, and onists to one another. The d all their obligations first debts repudiate Constitution, finally Savir ch un Bank of Charleston has suspended, effect the Trustees, in extenuation of their A v. faith, say they have invested deposits in that of various re. d these securities have s such but, millions bonds, they and of add, stock mortgages, description nearly that so low they cannot dispose of them more cept ruinous rates. They therefore pay the cash her of to for safe propoto give them the worth intrusted cooly fuse to offer their them depositors keeping, They t im. stock at "par." TERRORISM AT AUGUSTA. er,and seceA private letter in the New York isiting says: Federal h ed and We are in a terrible condition In Augusta mob law rules and overr Segur, law and order to such an extent that rginia, to March est men stand in fear, and hesitate of t. with press themselves on the condition GA. country as freemen should. As for not me at a summons to if 20. self, to not receive use it would surprise leave, any they more persuasive language. ere ap heartily tired of living in such a While munity, and can assure you that 11 they not remain a day longer than I can down