Bank of Williamsburg (Kingstree, SC)

Episode Information

Episode UID
67022171501
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
6702217 routing
Routing Number
67-0221
Start Date
January 16, 1925
Location
Kingstree, South Carolina (33.668, -79.831)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5a21364cee649348

Response Measures

None

Description

Sources give slightly different closing dates (Jan 16 vs Jan 19) but consistently report a run, suspension, and appointment of a liquidating agent.

Events (3)
1. January 16, 1925 Receivership
Newspaper Excerpt
The bank of Williamsburg closed its doors on January 16, 1925 and it appears that when that took place and when the liquidating agent was appointed ...
Source
newspapers
2. January 16, 1925 Run
Cause
Bank Specific Adverse Info
Cause Details
Large depositors withdrew funds in a run that precipitated the bank's failure.
Measures
Branch at Hemingway also closed; officers ceased operations.
Newspaper Excerpt
run on the bank by its largest depositors is the primary cause of the bank's failure.
Source
newspapers
3. January 16, 1925 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended operations after the run by large depositors led to inability to meet obligations.
Newspaper Excerpt
A calamity of inestimable magnitude struck this town ... when the Bank of Williamsburg closed its doors about 11 o'clock.
Source
newspapers

Newspaper Articles (3)
1. January 20, 1925 The Item Sumter, SC
Article from The Item, January 20, 1925

Click image to open full size in new tab

Article Text

TWO BANKS GO UNDER Kingstree and Edgefield Are the Sufferers Kingstree, Jan. 19.-A calamity of inestimable magnitude struck this town and community Saturday when the Bank of Williamsburg closed its doors about 11 o'clock. The Bank of Williamsburg is the second oldest bank in the county and was regarded until recently as the strongest financial institution in the county. with assets of over $600,000. including capital stock of $100,000 The pa. per held by this bank is said to be good and it is said depositors will not lose a dollar of their money run on the bank by its largest depositors is the primary cause of the bank's failure. The branch bank maintained at Hem. ingway by the Bank of Williamsburg has also closed. The officers of the Institution President. C. W. Stoll: cashier, E. C. Epps. Edgefield. Jan. 19-At the close of business today the directors of the People's bank held conference with State Bank Examiner W. W. Bradley and It was decided to open negotiations Swith the Bank of Edgefield looking to bank's taking over the assets of the People's bank and paying off depositors as the asset The capital stock People's bank is $63,000 and the deposits aggregate $102,000 The bank owes $15.000 for borrowed money. The People's bank will not open for business tomorrow Loans are about $133.000.

2. January 20, 1925 The State Columbia, SC
Article from The State, January 20, 1925

Click image to open full size in new tab

Article Text

KINGSTREE BANK CLOSES DOORS Bank of Williamsburg Forced by Run to Suspend- positors Reported Safe. Special State Kingstree, calamity of inestimable magnitude struck this and the Bank of its Bank illiamsburg is the oldest bank in the was regarded until recently strongest financial institution the county over stock paper this bank said and will dollar money. run the its largest the cause of the The main by the has The officers the institution ident, Epps. Reds Boot Trotzkii. day relieved his the council by the executive most erful political body Russia.

3. February 1, 1926 The Greenville News Greenville, SC
Article from The Greenville News, February 1, 1926

Click image to open full size in new tab

Article Text

GOVERNMENT WINS OUT IN BANK SUIT Receiver Of Bank Of Kingstree Must Settle With Postal Department. CHARLESTON, Jan. 31—(AP)—In a decision handed down today by Judge Ernest F. Cochran, of the United States Eastern District court in the case of the United States of America against W. W. Bradley as liquidating agent of the bank of Williamsburg at Kingstree, the Government's priority in the payment of its claim against the bank was established and the court ruled that the claim amounting to $645.39 should be paid out of funds in possession of the defendant. The government's claim $645.39 arose from a deposit of postal funds made in the Bank of Williamsburg by a postmaster at Kingstree, and from drafts purchased by the postmaster which had been returned unpaid and dishonored by the bank on which they had been drawn. The bank of Williamsburg closed its doors on January 16, 1925 and it appears that when that took place and when the liquidating agent was appointed the bank did not have sufficient property to pay debts in full and will not be able to do so.