Bank of Commerce (Greenville, SC)

Article Text

BANK CLOSED THURSDAY

Commerce Placed in Hands of State Bank Examiner

Greenville, Dec. Bank of Commerce of Greenville will not open for business today, decided o'clock morning by the board of directors, following prolonged session with State Bank Examiner Albert Fant Persistent which have caused heavy withdrawals from the bank during the past few given the action, the directors deeming best bank means of protecting depositors. The Bank Commerce, member banking system, president and Roy Bozeman, cashier.

Article Text

Greenville Bank In Hands Of Examiner

Greenville, Dec. Bank Commerce, capitalized failed to open for busithis its affairs having been placed the hands of bank examiner for riod thirty days. Albert Fant, state bank examiner today that he did believe the closing bank would have harmful effect business No on other any bank is expected result this bank's closing, Mr. Fant Continued withdrawals sponsible for the decision to close Bank' of Commerce, said.

Article Text

Greenville Bank Forced to Close

By the Associated Press. Greenville. S. C., Dec. 3.-The Bank of Commerce, capitalized at $150,000 failed to open for business this morning, its affairs having been placed in the hands of the state bank examiner for a period of 30 days in accordance with section 3981 of the state banking laws. Albert S. Fant, state bank examiner said today that he did not believe the closing of this bank would have any harmful effects on business here. No "runs" on any other bank are expected as a result of this bank's closing, Mr. Fant said Continued withdrawals were responsible for the decision to close the Bank of Commerce it was stated. No information relative to the amount withdrawn during the nast few days was given out but it is understood to have been a large amount.

Article Text

BANK FAILS TO OPEN DOORS

Bank Of Commerce Places Affairs In State Bank Examiner's Hands. Continued Withdrawals Responsible.

GREENVILLE, C., Dec. The Bank capitalized failed to open for busithis its affairs having been placed in the hands of State Bank for period of 30 days Section 3981 of the State Bank Albert Sant, State Bank Examiner, today that he did bethe closing of this bank would have harmful effects on here. No on other bank any result of this bank Mr. Sant said. were for the decision to close Bank of stated. information relative to the amount withdrawn during the past few days out but have been large amount.

Article Text

AIR MAIL ROUTE THROUGH GREENVILLE APPEARS VORED BANK OF COMMERCE TO LIKELY PAY 100 PER CENT

THIS OPINION GIVEN OUT BY OFFICIALS ON REPORT BY ASSISTANT EXAMINER

Difference Between Assets And Liabilities In Liquida tion Likely Not Be Over 25 Per Cent And This Would Be Covered By Liability Of Stockholders

Probability that depositors in the Bank of Commerce, of Greenville, will be paid in full was expressed by officials of the institution in close touch with the case, following a report of an associate bank examiner at a meeting of stockholders yesterday. Stockholders ratified the action of the board of directors in closing the bank on December 3. In the report that nt assets of of may at the by been ed appointed loan tions The is closed for holders none Mr. Morgan tion of the bank and meeting events ding to the closing of MORGAN Mr. Morgan said that the was going along up until this before that the of and to place the in the of the a came of the and asked with the bank. He stated that down town that the of Another came and reported run on the such stories going Mr. could then what been the matter the Deposits had steadied deposits. (Continued Page Col. 2)