Commercial Bank (Greenwood, SC)

Episode Information

Episode UID
67008971513
Episode Type
Suspension โ†’ Closure
Bank Type
state
Bank ID
6700897 routing
Routing Number
67-0089
Start Date
January 16, 1926
Location
Greenwood, South Carolina (34.194, -82.154)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
9beb82db0e937758

Response Measures

None

Description

Articles indicate the bank was in liquidation (1926) and later legal receivers were appointed for the stockholders' fund (1927).

Events (2)

1. January 16, 1926 Suspension
Cause
Voluntary Liquidation
Cause Details
Bank described as 'in the hands [of] liquidating committee' and funds likely impaired; outstanding check noted against the bank.
Newspaper Excerpt
We likewise make reference to the funds on deposit at the ComThercial Bank which is now in the hands liquidating committee
Source
newspapers
2. July 15, 1927 Receivership
Newspaper Excerpt
Judge M. L. Bonham ... has named V. L. Warner and J. M. Marshall as receivers of the stockholders' liability fund of the Commerc'al Bank of this city.
Source
newspapers

Newspaper Articles (2)

Article from The Index-Journal, February 25, 1926

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Article Text

Official Report of AudiESCAPADES tor Says Everything All Right LIKE A ALL FUNDS IN HAND AUDITOR WILD TIME Money Handled By Of- ficials Satisfactorily Accounted For The books of County Judge and Master Henry Tillman and of the magistrates of the county are correct in all essential features and all funds have been satisfactorily accounted for, according to the official report of Wallace, certified public accountant. who recently completed an examination of the books upon instructions from the grand jury. Mr. Wallace's detailed report has been submitted to Foreman B. Taylor who wishes made public. An interesting fact in connection with the report on the magistrates is that 85 per cent of all the cases in the county have been handled by Magistrate Demos S. Jones, at Greenwood. County Judge and Master. Following is synopsis of the report on the books of the county judge and master: We have examined the books of this officer for the entire time he has been in office, and we have checked back of his tenure fice in determine what funds were turned over to him by his predecessor, and have noted that these funds have been properly disbursed, or accounted for in the present statement. All payments to the Interested parties to actions are evidenced the parties or cancelled checks. from the clerk of court, the publishers and the auctioneer that all funds due them for their services have been paid. This officer himself states that has not drawn his fees and commissions for the past ten or eleven months, and in addition to these commissions due himself. he is due to Interested parties the sum of $2,807.35 as will be evidenced by the accounts listed in detail which show the various distributions to be made of these funds. Cash on hand with which to pay these claims has been verified from the depository's statement and as follows: Cash on deposit, Commerclal Bank. per receiver's certificate -$1,674.72 Less check outstanding. Nickles 795.35 Net balance 879.37 Cash in American Bank 1,879.36 Cash in National Bank 887.85 Total $3,646.58 Deduct amount due parties. 2,807.35 Bal master's commissions. We have determined the master's commissions to be about $125 more than the amount shown and this accounted certain cases which the master has disbursed more funds than the cases called for. We are of opinion that the officer himself the will have to stand this loss and make recovery from the parties. in connection with the check outstanding on the Commercial Bank. this check was given on October 27th and had not been cashed on November 5th when the Payment will have to be made to the holder of this check which will the amounts shown. We do not consider this officer at fault in the matter. would appear that the holder of the check had ample time to realize on same. We likewise make reference to the funds on deposit at the ComThercial Bank which is now in the hands liquidating committee and call your attention to same as there will undoubtedly be some loss this account. We have this day. January 16. 1926. (Continued on rage Two.) Just What May Be Expected Next Unknown By Authorities (By The Associated Investivators of the marital adventures of Noel Cobb. Anderson, youth, today were wondering how much more territory the seemingly of his activities would develop. Already ten cities in six states have been involved. News dispatches to date have vealed knowledge of him in the following cities, arranged as nearly chronological order as possible according to his activities: Anderson, S. his home, where his family is known and highly res pected. Colhmbia, where he attended for one year the University of South Carolina. Nashville, Tenn., where he was theology student at Vanderbilt University and where he met Miss Margaret Farmer, pretty Dothan, Ala., student at Peabody College. Jeffersonville, Ind., where he is believed to have gone through fake marriage ceremony with Miss Farmer following whirlwind courtLouisville, Ky., where he attended the Presbyterian Theological Seminary. Dotban, Ala., where he went with his "bride" and was received by ber family and filled for one Sunday the pulpit in the First Presbyterian church, which city he was asked to leave by Miss Farmer's father followsuspicion. Birmingham, Ala., where he presented himself to church officials and officials of the College as "French diplomat" and obtained letters of introduction to students of divinity at Emory Univer sity in Atlanta. Atlanta, Ga., where he presented his letters and was well received by Emory students and introduced by them to their acquaintances, and where he was found three weeks Intunconscious on the streets sufferiny from strange mental malady later pronounced dementia proecox" Decatur, Ga., where he met Miss Virginia Follingsworth, another pretty young gir.l student of Agnes Scott College, and inaugurated whirlwind courtship culminating in their marriage. Chattanooga, Tenn., to which oity he eloped with Miss Hollingsworth and where they were married followlog two day courtship. Cobb now is in sanitarium in an unnamed North Carolina city where was taken by his mother follow. ing his collapse Atlanta. Asheville, Feb. Noel Cobb, of Anderson. whose marital adventures in Alabama and Georgia have aroused interest throughout the south, is patient in the Highland Hospital here for nervous disorders. it was learned day. Storm Warning. Washington, Feb. visory m., storm warnings displayed on Atlantic coast Cape Hatteras to Eastport, Me., and small craft warrings south of Hatteras Jacksonville, Fla. Severe storm central over southern Lake Michigan, moving rapidly northeastward.


Article from The Index-Journal, July 15, 1927

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Article Text

TROOP BOYS ARE NAME RECEIVERS BAPTIST ASSEMBLY HAVING FINE TIME IN BANK CASE OPENS ON MONDAY Plenty to Eat and Plenty of Fun at Laughing Water The Index-Journal has received the following news lettes from Jack Monroe, scribe of Scout No. 1, B. 8. A., the members of which are now camping at Laughing Water in Jocassee Valley: Camp "Laughing Waters" Jocassee Valley, S. C. July 13, 1927. The Index-Journal, Greenwood, S. C) Will you please state to the parents and friends of the boys of Troop No. 1, B. S. A., through your columns that all the boys are well and feeling fine. We have plenty to eat and are having a big time. We had a good trip only our truck skiddid in a mud hole and we were stuck & hours but all the scouts helped get it out. The assistant scout master holds inspection each morning and checks up on the scouts. This morning he caught = acouts smoking and assigned them to "kitchen police" helping the cook. We are on a pretty river and have 3 ice cold springs to get water from. We had for breakfast this miorning fried ham and eggs, grits and gravy, corn bread friend batter cakes, syrup and cocoa. We take hikes and fish and climb mountains. Last night Henry Me+ Gee and Edwin Bookter hollered out about m., that they heard a wild cat growling. The camp artillery was called out and ventured forth in the darkness looking for the panther. Flash-lights were playing in the forest to shine his eyes but it, proved to be 2 limbs in some treen rubbing together which made screeching noise, exactly like a wild cat. We are 27 miles northwest of Walhalla, 9 miles above Salem. 2 miles above Jocassee Camp for girls and 1. mile above Brown Hotel or Attakula Lodge. All the gang are o. k. Don't worry about us. Mr. Dowling and Arthur Murray are good to us but make us obey the camp rules. JACK MONROE. Scribe for the Troop. Marshall and Warner to Receive Stockholders' Fund Judge M. L. Bonham, of Anderson. has named V. L. Warner and J. M. Marshall as receivers of the stockholders' liability fund of the Commerc'al Bank of this city. The order appointing them was made upon motion of S. M. Wolfe, one of the attorneys for certain depositors. following the failure of a number of stockhold ers to answer the suit within the time prescribed by law. The order reads in part as follows: More than 20 days have elapsed (except as to those defendants waiving said 20 days) since the effecting of said service and there has been no answer, within the time prescribed by the order of the State Supreme Court in the appeal from the demurrer; that the defendants (except those consenting by attorneys hereto) being in default; that there is no available qualifted judge, Hon. C. c. Featherstone being one of the defendants, it isordered that V. L. Warner and J M. Marshall be appointed receivers of the stockholders' liability fund with powers to recelve, receipt for and disburse said fund. subject to the further orders of the court: to furnish surety bond in the sum of $5,000 each to be approved by the clerk of court and payable to h:m in the event of default: to require the bank or banks with which the receivers deposit said fungs, pendirg disbursement a bond of not less than $10,000 payable to said receivers for any defalcation or failure of said bank or banks: that the receiver or said receiver's bonds be taxed as costs and paid from the corpus of said fund together with the costs taxable against said fund and attorneys" fees. Mays & Featherstone attorneys for various depositors shown in the record already filed. consent to the orThe case is that of R. O. Whitaker et al depositors V8 A. W. Rodgers, T. 3. Alton. H. A. Anderson, J. M. Marshall et al as stockholders of the Commercial Bank. The matter was argued before Judge William H. Grimball who rendered a decision in favor of the stockholders; an appeal was taken by William P. Greene and S. M. Wolfe, counsel for the plaintiffs and the Supreme Court reversed the lower court.