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BANK RECEIVER EXPENSE CITED
Lamb Reports Upon Three City Institutions to State Bureau
Total costs for administering the affairs of the Charleston Trust company, the Peoples Exchange bank and the Security Bank and Trust company included the salary and expenses of F. O. Lamb, receiver, were reported to the state department of banking Thursday as $95,491.88.
The most costly of the three banks, Mr. Lamb's report showed, was the Charleston Trust, the affairs of which necessitated an outlay of $54,728.29 from June 16, 1933, to December 31, 1934. Interest was shown to be the largest item, accounting for $22,109.32.
From September 7, 1933, to December 31, a total of $21,347.93 in cash has been paid out for the administration of the affairs of the Peoples Exchange bank, $9,494.37 of which was for interest charges.
Mr. Lamb reported a total cash expenditure at the Security Bank and Trust company from June 3, 1933, to December 31, of $19,415.66. The principal items, the statement reveals, are interest $7,668.22; clerical salaries, $4,875 and legal expenses, $2,808.51.
Other cash expense items follow:
Charleston Trust—Taxes and insurance, $7,825.91; clerical salaries, $7,728.03; receiver's salary and expenses, $2,739.18; legal expenses, $8,199.03; office supplies, printing, telephones, advertising, postage, water, gas, electricity and miscellaneous, $2,053.87; RFC loan expense and appraisal fees, $2,991.97; repairs to other real estate, $1,080.98.
Peoples Exchange—Taxes and insurance, $2,525.61; clerical salaries, $2,755; receiver's salary and expenses, $864.98; legal expenses, $2,995.85; electricity, supplies, postage, repairs and miscellaneous, $2,711.12.
Security—Taxes and insurance, $218.85; clerical salaries, $4,675; receiver's salary and expenses, $2,302.60; legal expenses, $2,808.51; office supplies, postage, telephones, advertising and miscellaneous, $693.47; appraisal fees and RFC loan expenses, $1,048.66.