The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1912-04-06
Removal Proclamation.

iHc pIoCidIldtlOn Oh the Governor
removing Mr. Rhame is as follows:
State Of South Carolina, Executive
Chamber
Whereas, the General Assembly.
by an Act. provided, THAT the Gov
ernor of the State shall appoint a
competent person to examine, from
time to time, as hereinafter provided.
into the affairs Of all banks and bank
ing institutions, conducted by cor
porations or persons in this tSate;
and.
Whereas, said Act provides, THAT
1t shall be the duty Of such bank ex-
aminer, and he shall have power 20
make examinations into all the books,
papers. and affairs Of the aforesaid
bank and banking institutions, ETC."
and.
Whereas the said Act further pro-
vides, THAT If the State bank exam
iner shall find any Of said banks or
banking institutions are insolvent, or
that their business is being so dis
honestly and fraudulently conducted
as to jeopardlze the interests Of the
depositors, creditors or stockholders,
he shall have full power, upon con-
sultation with the State Treasurer, to
take and obtain possession Of an the
assets and property Of every descrip-
tion belonging to said bank or bank
Ing institution, etc." and,
Whereas. the said Act further pro-
vides. THAT all institutions doing
business in this State in lending mon
ey and receiving deposits, under Acts
OF interpretations granted by the State
are hereby required, under penalty Of
forfeiture Of their charter, TO publish
In some newspaper In the county
wherein such banking institution is
located, when called for by the State
bank examiner, without previous no.
tice. correct report Of the condi-
ti0ns and business Of such institution,
which report shall contain a state
ment. under oath. by the president or
cashier Of such institution, of the
amount Of capital stock paid in; de-
posits. discounts and liabilities of said
institution. etc." and.
Whereas. the said Act further pro-
v.des, This section shall apply to
ali private banking institutions,
whether chartered or not" and.
Whereas, the said Act further pro
vides, Tho statement now required
by Section 1886. shall be called for by
said bank examiner ar least four
times each year and published in
some newspaper In the county where
in such banking institution is locat-
ed"
Now. whereas. it appears by re-
port Of Giles L. Wilson, State bank
examiner, filed April Is, 1910. with
the State Treasurer in which report
said Wilson states: Full report
submitted to Governor for review
and advice. Schedules b and c scare
me-" and by report filed March 3.
1911. signed by B. j. Rhame. State
bank examiner in which he says: II
am worried over the condition Of this
bank and have called Mr.. Roofs at
tention to these large excessive loans"
etc: and,
Whereas, by further report. filed
March IL. 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
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, i'm
orGer that they might take such steps
as they may have deemed necessary;
and. whereas. by the said dereliction
and neglect of duty, the said b. ].
Rhame. as State bank examiner, has
caused much loss to individual depos-
itors and others. which would have
heen saved il 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. j. Rhame had filed his re-
port on February l, 1911; and,
Whereas, in my Judgment, the said
II. j. Rhame has been guilty OF neglect
of duty and misconduct by not carry