Southern Bank & Trust Company (Orangeburg, SC)

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ENTERS SUIT AGAINST TWO BANK OFFICIALS

ORANGEBURG S. C., Jan. P)-Suit against F. A. Adden. president. and Scoville Wannamaker. cashier. of the Southern Bank and Trust Company, which closed last

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Closed Bank Receiver Reports Net Earnings

Orangeburg, Jan. 6.—(AP)—The Southern Bank and Trust Company, of Orangeburg, which failed in September, 1931, showed net earnings of $8,485.79 over all receivership expenses during the last year, an audit announced today disclosed.

The bank has paid one ten percent dividend to depositors in addition to making a profit in its receivership.

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April Bride was sung solo, by Marion Moise "The Bridal Chorus' Mr. was played for the from process the Marion Moise entered first and lighted Then ten of the the Sol Cogroomsmen, lumbia and Davis Moise, brothers of the Miss Gladys Kirton of Columbia by Miss Caththen Block of erine Julian Levy Miss Alice Moise of another entered, followed Miss Jennie Harby of Abbeville, formerly of Next the matron of honor, came Mrs Kohn of Miss August Via Charlotte N. was maid of honor. The with her brother, Marion Moise. Her petite brunette beauty enhanced by close ting white satin en train. She wore Normandy of with orange from which veil tulle. In her arms she carried calla lilies and lilies of entered with his bridegroom brother, Marion K. Rosefield. After the large rèception held in the Annex. the line was the wedding Mrs. David Mrs. Frank Mr. Martin Rosefield and Mr. H. C. Bland Spartanburg. The bride charming and popuShe graduate Mr. Rosefield, before South attended the Rhode Island college, and later the University of South Carolina. The many friends of Mr. and will be happy to welcome back to Sumter. where they will make their home.

Special to The Dillon, 5.-Mr. and Mrs. L. Manning of Dillon announce the gagement of their Mary and Frank Leon The wedding will take place June. Miss Manning is now member of the senior class at Columbia College. the comptroller of the currency. In addition will paid in surplus of The new institution will occupy the quarters used by the Orangeburg cash depository is prepared to take the affairs of that instituH is Henry Sims, vice and M H. Whetsell cashier of the new bank are: H. Smoak, Sims, Henry Joseph McNamara. of Winfield Clark of Cope and W. Bull of Vance The preferred stock representing half of the capital was subscribed by the Finance corporation the stock representthe other half was subscribed locally. M H. Whetsell, receiver of the Southern Bank and Trust company, which closed will distribute 30 per cent. dividend to depositors Monday. This will make of thus far disper in and it is expecttributed there will be yet further ed that The dividend will repredividends. Of this sent amount about will be will The cash be in to stock soem time ago by depositors in plan new proposed national for bank the organization in which nearly full 100 per cent. of the depositors are participating.

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ORANGEBURG GETS NEW BANK MONDAY

Receiver for Southern Bank and Trust Company Announces 30 Per Cent. Dividend.

Special to The State. Orangeburg, -Evidence of this section's steady trek back to noris contained in two The Southern National bank Orangeburg, with capital of $100,000, will open for busiMonday. Whetsell, receiver of the Southern Bank and Trust company announces per cent. dividend distribution to of that institution effective Monday Authority for the opening of the new bank has just been received from

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Southern National

Makes Purchase Receiver of Southern Bank & Trust Co.

The bank building on MiddleStreet formerly used the Southern Bank and Trust Company has been purchased by the Southern National Bank from the Receivership of the former tution. understood the price was Fifteen Thousand Dollars, which also included furniture and tures former bank. The Southern National Bank ganized in May and its stockholdconsist largely of the depositors old Southern Bank and Trust nearly all of whom joined in the organization new national ank.

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Southern Bank Receiver Distributes 4th Dividend

Checks Are Now Ready For Depositors—Total To Date 60 Per Cent—Other Distributions To Follow In The Near Future

Depositors of the old Southern Bank and Trust Co. are given the good news of a fourth dividend, of ten per cent., in an official notice by Henry R. Sims, Receiver, found printed on another page.

Checks for this payment have been prepared and depositors are requested to call at the Southern National Bank for the same, where these checks are being handled by Miss Nell Shuler, as special representative of the Receiver.

The payment of this dividend makes a total of sixty (60) per cent. now paid to the depositors of The Southern Bank and Trust Co. Other dividends are promised, as the Receiver states such will be paid as rapidly as possible.

Half of the present dividend to depositors, or five (5) per cent. of the original deposit, is being paid by the Receiver from funds collected from the stockholders of this bank, under the statutory liability formerly resting on stockholders of banks.

Creditors other than depositors will only receive five (5) per cent. in their fourth check, inasmuch as these creditors do not share in the distributions of the stockholders' liability collections.

The Southern Bank and Trust Company was closed in the latter part of 1931. M. H. Whetsell was receiver until last June when he resigned and he was succeeded by Henry R. Sims. Assisting the receivers has been an advisory committee of depositors, as follows: Jos. McNamara, chairman; H. L. Smoak, W. W. Wannamaker, all of Orangeburg; I. W. Bull, of Vance, and Winfield Clark, of Cope. Upon his retirement as Receiver, M. H. Whetsell was added to the advisory committee.