The herald and news. [volume] (Newberry S.C.) 1903-1937, 1912-04-05
"State Bank EXamineE
Removal Proclamation.

The proclamation Of the governor
removing Mr.. Rhame is as follows:
State of South Carolina, Executive
Chamber.
! Whereas, the general assembly, by
an act, provided, That the governor
of the State shall appoint competent
person to examine, from time to time.
as hereinafter provided, into the af-
fairs of al banks and banking institu-
tons, conducted by corporations Or
pc Sc N ,his State: and
Whereas, said act provides, THAT ii
shall be the duty Of such bank exam
iner. ara he shall have power to make
examinations into ali the books, papers
and affairs cf the aforesaid bank and
banking institutions, etc." and,
Wheras, the said act further pro
vides, Chat if the State bank eyamin-
er shall find any Of said banks or
banking Institutions ar eiaSol@ort az
that their business is being so dis
honestly aDd fraudulently conducted
as to jeopardize the interests Of the
depositors, creditors or stockholders.
he shall have full power, upon con-
suItation with the State treasurer. to
take an obtain possession Of all the
assets and property Of every descrip-
ton belonging to said bank or bank
ing institution, etc; and,
Whereas, the said act further pro
vides, "4hat all institutions doing
business in this State, in lending
money and receiving deposits, under
acrs of interpretations granted by the
State are hereby required, under pen
atty yr ~rfeiture Of theis character, to
publish in some newspaper in the
county wherein Such banking institu-
ton is located, when called for by the
State bank examiner, without previous
notice, a correct report of the condi-
tons and business of such institution.
which report shall contain statement.
under oath, by the president or cashier
of such institution, of the amount Of
capital stock paid in deposits, dis
counts and liabilities Of said institu-
ton, ETC. and,
Whereas, the said act further pro-
vides, "This section shall apply to all
private banking institutions, whether
chrtered or not" and,
Whereas, the said act further pro-
yides, The statement now required by /
Section 2,346, shall be called for By
said bank examiner at least four
times each year and published in some
newspaper in the county wherein such
banking institution IS located"
NOW, whereas, it appears by report
Of Giles L. Wilson, State bank ex-
al1iner, filed April 10, 1910, with the
State treasurer, in which report said
Wilson states: Full report submitted
to governor for review and advice |
Schedules B and G scare me-" and by
repor1 filed March 3. 1911, signed by
r. J. Rhame, State bank examiner, .
in which he says: 81 an worried over
tn" condition OF this bnk and have
called Mr.. Roofs attention to these
large excessive ioans," etc; and.
Whereas, by further report, filed
March l., 1912, and signed by T. c. |
Dunlap assistant examiner, showing
the bad condition OF said bank: and. !.
whereas, each and every one of these +,
reports show that the said banking in /
stitution was in bad condition; and, !
whereas, 3. J. Rhame, State bank ex-
aminer, did not have published. as re-
quired by law, said reports and state
ments Of said bank, thereby giving no.
tice to the depositors Of said bank Of,
The serious condition of said bank, /
in order that they might take such
steps as they may have deemed neces- !
sary: and, whereas, by the said dere
LECTION and neglect Of duty, the said
B. J. Rhame, as State bank examiner,
las caused much loss to individual &C.
positors and others, which would have
been saved if the proper steps had
been taken when the report Of Giles L.
Wilson was filed in 1910, or if proper
steps had been taken when the said B.
]. Rhame had filed his report on Feb
ruary 1, 1911; and,
Wheresa, in my judgment, the said
B. j. Rhame has been guilty Of neglect
of duty and misco. act by not carry
ing out the provisions of said Act; and,
Whereas, he has been guilty Of neg
lect in tie discharge of his duties and
shown himself thoroughly incompetent
to discharge the duties Of the said Of