City Directories and History: The Herald contained an ad on Jan. 28, 1899 – The Commercial and Farmer’s Bank of Rock Hill – A.H. White – Pres., A.E. Smith – VP, R. Lee Kerr – Cashier, and George D. White – Asst. Cashier.
The Herald reported on Feb. 7, 1900 – “The doors of the bank in this city were closed last Saturday on the order of Judge Gage, who appointed David Hutchison as receiver. A complain was brought by A.H. White who is owed $1,000. by the bank. The bank can not carry on business and is in serious danger of insolvency. There has been a persistent run on the bank’s funds over the past two months by people withdrawing deposits. Directors are: A.H. White, R. Lee Kerr, W.C. Hutchison, A.E. Smith, John M. Russell, V. Brown McFadden and Julia Friedheim.”
On Feb. 14 the Herald reported – David Hutchison, the receiver of the Commercial and Farmers Bank, has submitted statement of assets showing assets of $167,000. and liabilities of $165,000. On Feb. 21st states that suits have been filed on the failure of the bank. Blackburn, Estridge and Co., of Kershaw were large depositors.”
The Herald reported on Feb. 17, 1900 – “Ganson Drygoods of Yorkville has failed and Mr. B.N. Moore has been appointed as receiver. The failure was due to poor crops last fall and the failure of the Commercial and Farmer’s Bank in Rock Hill.” The Herald later reported on March 21, 1900 – “The stock of the Ganson Drygoods Co of Yorkville has been valued at about $17,000. the purchasers are J.M. Heath and Co. of Lancaster, S.C.”
On Nov. 10, 1900, the Herald reported – “There was a meeting of depositors of the Commercial and Farmer’s Bank, now in the receivership of D. Hutchison. The records show claims of $130,208. of which $55,300. has been paid.”
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