Bank of Chesnee (Chesnee, SC)

Episode Information

Episode UID
67029971561
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
6702997 routing
Routing Number
67-0299
Start Date
January 4, 1930
Location
Chesnee, South Carolina (35.148, -81.861)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5fe3af78f20b290e

Response Measures

None

Events (3)
1. January 4, 1930 Run
Cause
Local Banks
Cause Details
Small withdrawals/loss of deposits following the closing of banks in Spartanburg and nearby failures; trouble meeting demands.
Newspaper Excerpt
Reports circulated here yesterday the effect that the Bank Chesnee had failed open business proved to without foundaInquiry Chesnee developed the fact that the bank doing business usual. ... said there had been small the bank two three ago, following the closing banks Spartanburg, but the Chesnee stitution had trouble meeting demands.
Source
newspapers
2. February 14, 1930 Suspension
Cause
Local Banks
Cause Details
Failure of nearby Rutherford county banks and American State Bank at Gaffney precipitated inability to continue operations.
Newspaper Excerpt
The Bank of Chesnee, of Chesnee, ... placed its affairs in the hands of the state bank examiner at directors meeting at o'clock tonight. The institution lost a number of deposits when the Dollar Savings bank and the Carolina National bank of Spartanburg closed December 30, but ... the failure of the Rutherford county banks and the American State bank at Gaffney rendered the situation too acute for the Chesnee bank to continue operations.
Source
newspapers
3. August 5, 1933 Receivership
Newspaper Excerpt
Officials representing banks and other financial requested ... Wolfe, Inman Bank receiver; Hatchett, of Chesnee, farm credit field resentative; ... O. Hines, Bank of Chesnee receiver.
Source
newspapers

Newspaper Articles (5)
1. January 4, 1930 The Gaffney Ledger Gaffney, SC
Article from The Gaffney Ledger, January 4, 1930

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Article Text

CHESNEE BANK REPORT WITHOUT FOUNDATION RECRUITING ADS ARE DESTROYED. Boston Crowd Storms Office and Tears and Tramples Banners from Standards. Boston, Jan. demonstration on Boston Common in which coast guard recruiting posters destroyed an unexpected aftermath today of meeting historic Faneuil hall called in prothe killing of three rum test Rhode Island waters runners Sunday by coast guardsmen. The petty officer charge the station was unable crowd. The posters stem torn their metal trampled, and the torn bent and ancient rafters of Faneuil The echoed charges that in forcement the tion faces form oppresThe Rhode Island killings sion. referred the 'Newport compared with the massacre" the first bloodBoston massacre, the independence. The coast guard was accused blooded killing brutal of wounded the treatment deaths the three rum runners. resolution adopted unanimouswhich filled called President hall upon Hoover for impartial follows part: gation. Liberty Destroyed. the of such "By practices the governmental cident (the shooting runners) described the rum but the destrucnothing liberties for which our the fought, which fathers have bled from the time the great charter. asserting the guilt are guard believe the coast attitude the government taken will justly the that give tempt being made to suppress the facts act worst this for the enforcement unpopular, unnecessary stupid which no proper constitution of place which all intelligent nation and know can never be forced." Conrad W. the Liberal Civic council for league which called the protest meeting and which had into the shootdenied that the rum runners to that escape were given any the coast guard boat before with opened machine Crooker said his investigation showed the men shot down from pointblank feet their range the Black Duck, ceeding four miles hour dense fog and headed directly toward the The instead being in pursuit, the stern, Bumpling Rock the time. Charges Cowardice. He Boatswain Cornell, skipper the and was afraid board the Black Duck Charles Travers, wounded survivor her crew, brought alongside the coast guard craft. were left to welter and die their blood," was the aboard the said, finally in sponse to Travers' pleas, went aboard the Black Duck help him with the three dead dying Crooker claimed that if the guardsmen had taken the quicker, Weisman's life might have been saved. John W. lass said runners "outrageously promised forward an investigation Washington. Shoots Greenville, condition Wells, veteran clerk of the city of Greenwho pistol wound his chest in his private office city hall today, remained tonight, according to taches the City ployees the offices, hearing pistol shot followed Wells' private early today, find the slumped in chair his desk pistol right hand. audit of the annual procedure, started yesterday. Institution Open and Doing Business as Usual Friday, Inquiry Reveals. Reports circulated here yesterday the effect that the Bank Chesnee had failed open business proved to without foundaInquiry Chesnee developed the fact that the bank doing business usual. Hall, Chesnee business Mr. and Hall of Gaffney, said there had been small the bank two three ago, following the closing banks Spartanburg, but the Chesnee stitution had trouble meeting demands. confidence the stability the bank, and understand how such report circulated here had been started.

2. February 14, 1930 The Greenville News Greenville, SC
Article from The Greenville News, February 14, 1930

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Article Text

Bank Of Chesnee In Examiner's Hands SPARTANBURG, Feb. The Bank of Chesnee, of Chesnee, 20 miles northwest of here placed its affairs in the hands of the state bank examiner at directors meeting at o'clock tonight. The institution lost a number of deposits when the Dollar Savings bank and the Carolina National bank of closed December 30, but the directors were able to restore confidence and stabilize matters until today when the failure of the Rutherford county banks and the American State bank at Gaffney. rendered the situation too acute for the Chesnee bank to continue operations. The deposits, at close of business yesterday, amounted to $228,793.26 showing decrease of about $106,000 since the published statement of December 31, 1929; capital stock of the bank was $50,000. surplus $20,000 and bills payable none.

3. February 14, 1930 The Sentinel Winston-Salem, NC
Article from The Sentinel, February 14, 1930

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Article Text

TWO S. C. BANKS CLOSE DOORS First National of Gaffney and Bank of Chesnee Locked to Public. for and to take charge of the comb the to BANK CLOSES

4. February 15, 1930 The Gaffney Ledger Gaffney, SC
Article from The Gaffney Ledger, February 15, 1930

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Article Text

BANK OF CHESNEE FORCED Failures at Rutherfordton and Gaffney Affect Nearby Bank. Spartanburg, Feb. Bank Chesnee, Chesnee, 20 miles northwest here, placed fairs in the hands state bank examiner directors' meeting o'clock tonight. The institution lost number deposits when Dollar Savings bank the Carolina National bank Spartanburg closed December 30th. the directors restore confidence and matters until today when the banks and the American State bank Gaffney the situation acute the Chesnee bank The deposits, the close of busiyesterday amounted $223,showing decrease of about $106,000 since the published statement 31st, stock the bank $50,000; surplus, $20,000, and bills payable, Loans and discounts amounted December This than the deposits at the time but $100,000 than the statement.

5. August 5, 1933 The Gaffney Ledger Gaffney, SC

Article Text

FARM GOVERNOR TO SPEAK AT CAPITAL Henry Morganthau, Jr., to Address Bank Meeting Monday. Spartanburg, Aug. 3.-Henry Morgenthau, governor of the farm credit will speak at Columbia Monday meeting of officials of both liquidation farm credits benefit both farmers and bank depositors. This learned here Thursday from official connected closed bank this counNotices of the meeting have mailed out by Miller, state bank examiner. meeting of the preliminary in Columbia on July 18 when liquidafarm paper held by closed banks primary subject discussed. The farm paper held by closed banks will benefit the farmer by giving longer time lower terest retire his debt and will also benefit the depositor the closed bank by making ready cash for dividends. Only Spartanburg, Darlington Florence County bank officials participated in the first conference. result, praisers have been work county for the two weeks making inspections paratory per, was learned GenHarris, connected the credit The meeting, which Mr. Morgenthau will attend, will held the Jefferson Hotel at o'clock, according the notices. Officials representing banks and other financial requested to bring their farm credits to the conference. not known how many Spartanburg men will attend the meeting. large group attended initial conference on July Among them Albert Lohm, for the First tional Bank; Campbell, olina National Bank, Boyd the Southern Trust Company; Cannon, SparBank, conservator; Horace Bomar H. B. Chap man of the Central National Mr. Harris, Farm Credit here; R. Westmoreland, Employes Savings Bank, Pacolet; Gray, Woodruff First NationBank; Wolfe, Inman Bank receiver; Hatchett, of Chesnee, farm credit field resentative; John Landrum, Bank of Landrum; Drummond and Brockman, Bank of Woodruff receivers; and O. Hines, Bank of Chesnee receiver.