Bank of Beaufort - Beaufort, SC

Episode Information

Episode UID: 5550917591518
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 555091759 hash
Start Date: June 1, 1926*
Location: Beaufort, South Carolina (32.432, -80.670)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 4bf5e82626bc34f6

Response Measures

None

Description

Article discusses the bank's failure and related federal court testimony; exact suspension/receivership date not stated but June 1926 is referenced.

Events (2)

1. June 1, 1926* Other

Newspaper Excerpt: after the failure the Beaufort institutions
Source: newspapers

2. June 1, 1926* Receivership

Newspaper Excerpt: he did not know after the failure the Beaufort institutions
Source: newspapers

Newspaper Articles (1)

1. January 11, 1928 The State Columbia, SC

Article from The State, January 11, 1928

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Article Text

ARNOLD TESTIFIES IN BANK CASE Head of Farm Loan Institution on Stand. IN FEDERAL COURT Tells of Papers Held as Result of Dealing With Beaufort Institutions. The special term of federal court went on with its work yesterday, con tinuing the hearing witness, Arnold, president the Federal and Credit Columbia, the against Beulah Harvey, Bryan, Macklin, Harry Eve, the of the Bank of Beaufort and the South Carolina tion of Beaufort defendants are to defraud the of apDuring morning Mr. Arnold his terday saying that he did not know after the failure the Beaufort institutions that the credit had in its result dealings the Beaufort instiHe in detail the the being duced According Arnold loss $1,179, 000 off by the Intermebut it was hoped, portion of this might that the probably exceed Tells of Losses. He that the of the credit bank were due having papers to for count which certain was over Arnold testified that the Inter for that had to the financial and the Beaufort Agricultural loan tee The law funds for He added that the had paper nnually After the of the Beaufort bank, Mr. Arnold said he asked president of the what had posited for farmers the Beaufort the was the why the bank saved? Arnold asked 'He hasn't question replied the Beaufort the June 1926. When heard Richardson the Francis held June the Beaufort Other fort had me the Inter mediate had approximately $200,000 the would the asked the Intermediate the and The the He the the help was the way for the get Rich Bell Macklin he $100,000 him there the the and failed to later the further testified that the the cultural association pay the Intermediate This and the prop the Beaufort Truck Growers which they conservatively taken after the fort in the section according the paper the spring looked followed the crash and the Inter On The with was taken of Arnold by Edgar member of coun for the the time Mr Brown the wit Arnold again on the stand Following series of questions by Mr. Brown as to whether the money had been lent spinach, lettuce, potato crops 1925 and whether had been failures that season, the