Article Text

RECEIVERS NAMED FOR FOUR BANKS Beaufort Bank and Affiliated Institutions to Be Liquidated. The Beaufort bank, recently closed, and affiliated institutions are now in the hands of receivers, according to the announcement of W. W. Bradley, state bank examiner. Receivers named by the court, upon petition of the state bank examiners' office, are: Beaufort bank, W. J. Thomas. Bank of Varnville, H. O. Hanna. Bank of Brunson, L. R. Tuten, Jr. Bank of Hampton, Fred W. Lightsey. "For some weeks," Mr. Bradley said, "the state bank examiner's office has been engaged in an examination of the affairs of the Beaufort bank and associated banks. All examinations have been completed except that of the Beaufort bank, the connections of which with the Intermediate Credit bank and associated farm loan institutions constitute such a tangled proposition as will necessitate several more weeks of auditing properly to work out the liabilities of the institution. "Despite the fact, however, that the audit of the Beaufort bank has not been completed the bank examiner's office has applied to the courts for the appointment of receivers for each of the several banks concerned. In each instance, it is believed, capable and suitable men for the receiverships have been selected. "The immediate superintendence of the investigation has been done by Albert Fant, assistant bank examiner."