South Carolina National Bank

Episode Information

Episode UID: 204401585
Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 20440 national
Charter Number: 2044
Start Date: January 5, 1932
Location: Charleston, South Carolina (32.777, -79.931)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 7359d5a5eeb9c4cc

Response Measures

None

Description

Article shows the bank invoked the 60-day notice rule (partial suspension) in response to other local bank failures; reopening is not described so additional articles could confirm outcome.

Events (2)

1. September 10, 1872 Chartered

Source: historical_nic

2. January 5, 1932 Suspension

Cause: Local Banks
Cause Details: Invoked 60-day notice on savings accounts following closure/distress of the Peoples State Bank chain in the region; precautionary measure amid local bank failures.
Newspaper Excerpt: the South Carolina National bank today invoked the 60 day notice rule on savings accounts.
Source: newspapers

Newspaper Articles (1)

1. January 5, 1932 The Greenville News Greenville, SC

Article Text

U. S. Exports For 1931 Show Decrease WASHINGTON, Jan. 4.—Exports from the United States during the first 11 months of 1931 were valued at $2,197,179,000, compared with $3,511,143,000 in the corresponding period of 1930, the department of commerce announced today. Imports for the same period, it was announced totaled $1,937,101,000, against $2,852,272,000 in the first 11 months of 1930. Finished manufacturers comprised 48 per cent of exports during the period, while the largest classification of imports was crude materials, 30.6 per cent. Total exports in November last year amounted to $190,392,000, compared with $285,396,000 in the like month of 1930, while November imports were valued at $149,719,000, against $203,593,000 in November, 1930. is divided into three zones, with W. N. Query in charge of the Columbia zone, C. M. Fuller at the Greenville zone and C. L. Walker in the Charleston zone. Mr. Fuller was quoted in Greenville as saying no definite statement could be expected from the chain within 15 days. He said few withdrawals were reported and that business was "virtually normal." MONEY BY PLANE This morning an airplane from Charlotte brought $250,000 for the South Carolina National bank, which, added to the $500,000 brought by the same plane on Saturday, brings the total of currency moved into Charleston since the Peoples Bank closed to $1,750,000. Mr. Walker said the audit probably would take about 30 days in this zone, which includes more than 20 of the 46 offices. There would be no statement by the bank examiner, he said, for another week of ten days. In response to Governor Blackwood's suggestion to all banks, the South Carolina National bank today invoked the 60 day notice rule on savings accounts. IN GOOD CONDITION Banking authorities here yesterday reasserted that branches of the Peoples State bank in this part of the state are generally in good condition. A number were referred to last Saturday, including the local branch, as being in good shape. However, from this list was unintentionally omitted the one at Seneca. It was said yesterday that the branch there was in excellent status but that it naturally had to close with the others in the chain.