Historical Newspapers of South Carolina

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* * ’ • • t V - ' • . ' ' ^ . » ' ' . ’* . f, . * ■ . . * >•* lav v : -i TO THE PUBLIC: <:4, : j . > 1 ' ?’.. Vr* XT The Court has authorized the Receiver of the Ban||*of Western Carolina, now in process of liquidation, to i i ■ . proceed with the sale and exchange of. the bank’s assets for deposits. - ♦ Appraisal of the assets has been completed and this appraisal approved by the Court. ■«r • + *'' The basis of sale or exchange, as authorized, is 50 percent, or $1.00 of assets to $2.00 of deposits. On interest-bearing assets the Receiver will collect the interest accrued to date. The Court order establishes the negotiability of assigned assets, and the depositor is authorized, if he so desires to sell or assign his deposit to any individual or firm, permitting the circulation of deposit assignment as checks. Legal assignment forms, of which a fac-simile appears below, will be furnished by the bank in any quanity desired. --rfi In no case is the Receiver permitted to accept less than the appraised value of assets without order of the Court. • * •" ; • . , r . * • *. * # * Approximately all offsets have already been allowed. m m m m 0 Among the bank’s assets are a large number of amply secured loans on Real Estate, Farm Lands and other securities, as well as notes secured by good endorsements. Any and all of the assets will be sold or exchanged on the above basis, and these interest-bearing securities turned ovet to the depositors in exchange for their deposits. All information concerning the assets and the appraised value of the same is now on file with each of the local agents at the several branch banks, and the list of depositors is also of public record—on file with the Clerk of Court of the County in which each bank is located and also with each branc office, all of which is now public record. 9 All transactions must be made at the local office or branch bank in which the obligation originated or in * whose territory the secured property is located. The exchange arrangement becomes effective on Monday, March 21st, at all branches and at the home of fice of the Bank of Western Carolina, where those desiring to purchase and of the assets or accounts will please apply. t . 1 Under the Court order the Receiver cannot accept the assignment of a deposit owned by a person who is an endorser on any asset held by the Bank of Western Carolina until that obligation is paid or satisfactorily ar ranged. , 1 1 ■ ' .i j, ■ rr-' " 1 1" | 11 - —^' *7~ - % • •• ^ - i s. C. . ’ • • ■-« I'v ■. 9 - 4 - ~ — 193 \ For value received the undersigned does hereby transfer, set over,.and assign _____ _ • • . * deposit account in the Bank of Western Cardna in the sum of $ to " —: "**' "* 1 --mv * ' • ‘ . - -i heirs, executors, - . ' ' ' . . .. ' • administrators, successors, and assigns. - * * . * — L. S. . ■' .. _ .. - _ ■ , • • . * * *' * . THE BARNWELL OFFICE WILL BE OPEN CONTINUOUSLY FROM 9:00 A. M, TO 2;0 ) P. M. . • r—'/vV: - t RECEIVER of the BANK OF WESTERN CAROLINA. N ^ v .. \ Tt——■Tr'-r—•Tt A * • V 3^- - 4 , ^ 1 * . - • . , • '» * * # • u - • v • . • - ■ it