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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.
