The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1920-12-13
A CHANCE TO HELP.

nnancler. But we DelleVe tnat IL was
mistake to close the doors of the
County Savings Bank. In saying that
we wish to disclaim any intent to
eriticise the officers, friends and ad-
visers of this bank. We know them
we'll enough to believe that the ad-
vice given was what the advisers be-
lieved to be right in the premises.
We understand that the Bank Ex-
aminer who is now here, and who has
made q careful examination of the
affairs Of the bank, is in accord with
our view Of the matter: We do not
know what his final decision will be
with regard to re-opening the doors
Of the bank. Now that the doors Of
bank have been closed it may be de-
cided that it will be best for it to IL
quidate, or it may be decided that it
is better for the> bank to resume bus
mess. We believe the final decision
on this point will embody the best
thought of the Bank Examiner and
of the officials of the bank and of its
stockholders.
Anticipating their decision, and be-
lieving that the bank may be re-
opened, we desire to say that when
it's doors are re-opened we shall have
a fine chance to show whether this is
a community with a community spirit
of helpfulness, or whether there are
in Abbeville only a number of sell
fish individuals, who consider them
selves first, and then last, and other
people not at all. The bank .. is SOL
vent. 1t may not be making money. 1t
may be that it will not make money
until changes are made, but less mon
ey will be lost by operating it just
now than by iquidating its affairs.
The bank can best collect its own as
sets, and we believe it is to the in
terest of its creditors that they give
it extensions and allow it to do this.
The depositors of the bank are per-
haps scattered, but the combined de-
posits of the bank do not exceed $45,-
900, we are told. Most of this money
is likely deposited by people in the
city who will have every confidence
in the bank, and it will not be with
drawn except in the usual course of
business. But there will be some who
will be afraid of losses. These we
would re-assure. The depositors of
the bank cannot lose a cent, as we
see it. Every stockholder of the bank
is liable not only for what he has
paid in on stock, but for an equal a.
mount for the guaranty of the pay
nnent of depositors in full. Therefore, !
depositors will receive not only their
share of the general assets of the
bank, but they will have as additional
security this stockholders liability.
Besides the directors and principal
stockholders guarantee depositors
against loss.
= These facts being understood, we
beg to ask the depositors on behalf of
this bank that they join with others
in undertaking to make the reopen
ing of the bank a success. 1t hurts
every other bank in town for bank
to close. 1t hurts every business in
the town, it affects the credit of every
business man to some extent: To take
up this bank at this time, and make
it 60, will be recommendation for
the business interests of the town and
for the spirit of cooperation which
will go long ways towards giving
the people in other places confidence
in this community. Looking to that end
we should all help. If the bank opens
tomorrow we can all help by refusing
to draw a cent out of the bank.
Every business man in the city, every
friend of his neighbor, every lover
of the reputation of this community,
can help by making a deposit with
the bank. We hope that the people of
this city will show their faith in the
officers of the bank, in the ability of
our people to work out of their diff
ficulties, and that the community
spirit of Abbeville will rise higher
than selfish interests, and that these
things may be done.