Article Text
BANK FAILS TO OPEN
Laurens, S. Dec. The Peoples Enterprise Bank here failed to open its doors for business this morning. The bank's statement of September 30 showed $460,000 deposits.
Peoples Loan & Exchange Bank (Laurens, SC)
Episode Information
- Episode Type
- Suspension → Closure
- Start Date
- December 1, 1931
- Location
- Laurens, South Carolina (34.499, -82.014)
- Bank Type
- state
- Routing Number
67-0115- Canonical name
- Peoples Enterprise Bank
- Alt. names
- Peoples Loan & Exchange Bank
Metadata
Events (2)
1.
December 1, 1931
Suspension
- Cause
- Government Action
- Cause Details
- Bank failed to open Dec 1; state examiner involved and bank closed to business.
- Newspaper Excerpt
- The Peoples Enterprise Bank here failed to open its doors for business this morning.
- Source
- newspapers
2.
December 19, 1931
Receivership
- Newspaper Excerpt
- Liquidation Of Laurens Institution To Start ... Ernest Easterby ... was elected receiver of the bank ... The bank not insolvent was shown and has on hand $50,000 which be paid the depositors once according to agreement as to liquidation procedure.
- Source
- newspapers
Newspaper Articles (2)
Article Text
EASTERBY BANK RECEIVER
Liquidation Of Laurens Institution To Start With Pay$50,000 At Once ment
LAURENS, Dec. meeting today of the depositors of the Peoples Enterprise bank which was closed December the board directors after conference with the state bank examiner, Ernest Easterby president of the Laurens Glass Works company was elected receiver of the bank, John Wells as Todd, former president of the bank, assistant to Easterby; and Hayne Taylor, M. Smith and Charles F. Fleming, advisory The receiver is to receive salary $2,000 year, the assistant per "reasonable and the attorney "not to exceed acsalary to resolution that was cording adopted by the meeting. The bank not insolvent was shown and has on hand $50,000 which be paid the depositors once according to agreement as to liquidation procedure. Albert Fant. state bank examiner, was present and stated state desired to see the bank's affairs liquidated large fees costs was capitalized at $100,000.