1.
July 7, 1929
Sunday Times Signal
Zanesville, OH
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2 MORE BANKS IN BIRMINGHAM TO CLOSE
Closing of Two Other Institutions Started Run of Other Banks
Birmingham, Ala., July 6. Affairs of two banks which closed today, bringing to total four bankwhich have failed to open the Birmingham district within the past ten days, were under investigation of the state banking officials Meanwhile, searching parties were their efforts locate the formerly body of Dr. W. Bell. president of the Woodlawn Savings bank. one of the institutions which closed today Dr Bell drowned this morning in the Coosa river near Vincent. Dr Bell was reported to gone in with of friends shortly after he arrived at his country place for the week-end The report of the closing of the Woodlawn bank caused run on the Southside bank which prompted officials to order its doors closed Officials of the Southside bank said that was temporary and that the bank re-open for business morning As the report spread throughout flowers. the district, mild runs started other banks. The runs were halted in most instances when officials anthat all to withdraw their funds would be paid promptly Judge C. Thomas. state super intendent of banks, arrived tonight from Montgomery to take charge of the banking situation here He at tributed the closing the Woodand the Southside banks today ing of the two banks last week.
2.
July 7, 1929
The Sunday Oregonian
Portland, OR
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TWO MORE BANKS IN ALABAMA CLOSE
State Officials Take Charge of Situation.
INSTITUTION HEAD DEAD
Accident Follows Suspension of Business; Other Houses Suffer Runs.
BIRMINGHAM, Ala., July 6.-(AP)Affairs of two banks which closed today, bringing to total of four banking institutions which have failed to open in the Birmingham district within the past days, were of the state banking officials tonight Meanwhile searching parties were doubling their efforts to locate the body Dr. A. W. Bell, president of the Woodlawn Savings bank, one of the institutions which closed today. Bell drowned today Coosa river near Vincent, Ala. He was reported to have gone swimming with party of friends shortly after he the arrived at his country place for week-end.
Report Causes Run. The report of the closing of the Woodlawn bank caused run on the Southside bank, which prompted ficials to order its doors closed. Officials of the Southside bank said that closing temporary and that the bank would reopen for business Monday morning. As the report spread throughout the district, mild runs started at other banks. The runs were halted in most instances when officials announced that all withdraw their funds would be paid promptly. Judge C. Thomas, state superintendent of banks, arrived tonight from Montgomery to take charge of the banking situation here. He atthe closing the Wood lawn and Southside today to runs precipitated by the closing of the two banks last week. The banks closed last week were the City Bank & Trust company and the Bank & Savings pany. Lassiter, president of both institutions, is in hospital in New York, where he collapsed after receiving news of the closing of the banks.
Cashier Wounded Fatally. John R. Wallace, cashier of the Avondale Bank Savings, died the day before the bank closed from bullet through his abdomen, said by members of his family to have been accidentall inflicted when pistol he was handling dropped to the floor and discharged. Coroner Russum rendered a verdict of accidental death. Plans for reorganization and reopening of the City Bank & Trust company completed today and Roderick Beddow, member of the board of directors and attorney for the institution, announced that more than $125,000 of the $250,000 stock proposed for the reorganized bank had He said the bank probably would reopen early week. Southside and Woodlawn banks were capitalized at $50,000. The City bank had capital of $500,000 and the Avondale bank $25
3.
July 7, 1929
Clarion-Ledger
Jackson, MS
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TWO MORE BANKS ALABAMA CLOSE
Birmingham Section Has Had Four Institutions to Close in Ten Days
Ala., July affairs two banks which closed today, bringing to total four banking which have failed to open in the Birmingham district within the past ten days, were under investigation the state banking officials tonight. Meanwhile, searching parties redoubling their efforts locate the body of Dr. W. Bell, president of the Woodlawn Savings bank, of the institutions which closed today, who drowned morning in Coosa river near Vincent, Ala. Dr. Bell reported to have gone in swimming party of friends shortly after he arrived at his country place for the week end. The report of the closing of the bank caused on Southside bank, which promptofficials to order its doors closed. Officials the Southside bank said that closing was temporary that the bank would open for busimorning. As the spread throughout the district, runs started at other banks. The runs were halted most when officials that all depositors wishing to withdraw their funds would paid promptly. Several banks posted announcements that they would open late tonight necessary in those seeking withdraw deposits. Judge Thomas, state superintendent of banks, will arrive Monday to take charge of the banking situation here. attributed closing Woodlawn and Southside banks today to runs precipitated by the closing of two banks
4.
July 7, 1929
Leader-Telegram
Eau Claire, WI
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BANKS
State Opens Probe of Failures As Two Officials
July banks which closed today, bringing total four banking which have failed open in the Birmingham district within past ten under investigation of banking officials tonight. Meanwhile searching parties were doubling their efforts locate body Bell, president the Woodlawn Savings bank, one the institutions which closed today. Dr. Bell drowned this mornthe Coosa river near VinAla., Dr. Bell was reported gone swimming with friends shortly after he rived his country for place week The report of the closing of Woodlawn bank caused on the Southside bank which prompted cials order its doors closed. Southside bank closing temporary and that bank would re-open business Monday morning Judge Thomas, state superintendent of banks, arrived night from Montgomery charge banking situation here. attributed the closing the Woodlawn Southside banks today runs precipitated the closing of the two banks last banks closed last bank and Trust the Avondale bank Savings president in New York hospital where he collapsed after receiving news of the closing the banks. John Wallace, cashier of the City bank and Trust company, died day before the bank closed from bullet through his abdosaid by members of his famhave been flicted when pistol he was ing dropped the floor and charged. Coroner Russum dered verdict of accidental
5.
July 7, 1929
Pensacola News Journal
Pensacola, FL
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TWO NEW BANKS AT BIRMINGHAM SHUT UP DOORS
Make Four To Close In Alabama City Within Past Ten Days
BIRMINGHAM, Ala., July 6.-(A)) The affairs of two banks which closed today, bringing to total four banking institutions which have failed to open in the Birmingham district the past 10 days, were under investigation of the state banking officials tonight. Meanwhile searching parties were redoubling their efforts to locate the body of Dr. W. Bell, president of the Woodlawn Savings bank, one of the institutions which closed today, who drowned this morning in the Coosa river near Vincent, Ala. Dr. Bell was reported to have gone in swimming with party of friends shortly after he arrived at his country place for the week-end.
Closing Temporary The report of the closing of the Woodlawn bank caused a run on the Southside bank, which prompted officials to order its doors closed. Officials of the Southside bank said that closing was temporory and that the bank would open for business Monday morning. As the report spread throughout the district mild runs started at other banks. The runs were halted in most instances when officials announced that all depositors wishing to withdraw their funds would be paid promptly Several banks posted announcment that they would remain open as late tonight as in order to accommodate those seeking to withdraw deposits.
Judge Takes Charge Judge C. Thomas, state superintendent of banks, arrived tonight from Montgomery to take charge of the banking situation here. He attributed the closing of the Woodlawn and Southside banks today to runs precipitated by the closing of the two banks last week. The banks closed last week were the City Bank and Trust Co., and the Avondale Bank and Savings Co. J. Lassiter, president of both institutions, is in New York hospital where he collapsed after receiving news of the closing of the banks.
6.
July 7, 1929
The Atlanta Constitution
Atlanta, GA
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MAJOR CHRISTOPHER TO LEAD GEORGIA AIR TOUR; FLIGHT OVER STATE TO START TUESDAY, JULY 23 FAMOUS AVIATOR President Drowns Bank Fails Birmingham as 'GLAD TO ACCEPT'
FOURTH FINANCIAL INSTITUTION GOES UNDER IN 10 DAYS
Drowning Recalls Alleged Accidental Death of Cashier of First Bank To Close.
ATTORNEY GENERAL DEMANDS PROBE
Mild Runs Are Staged Against All Magic City Banks as Result of Panic of
Birmingham, Ala., July The affairs two banks which closed today, bringing total four banking institutions which have failed open in the Birmingham district within the past ten days, were under investigation of the state banking offitonight. Meanwhile searching parties were redoubling their efforts to locate the body of Dr. W. Bell. president of the Woodlawn Savings bank. one of the institutions which closed today. drowned this morning the Coosa river near Vincent, Ala. Dr. Bell reported to have in gone swimming with party of friends shortly after he arrived his country place for the Run on Other Bank.
The report of the closing of the caused run on the Southside which prompted offi to order its doors closed. Of of the bank said that closing temporary and that the bank would open for business Monday the report spread throughout the district mild started at other The runs were halted in most when officials announced all depositors wishing to withtheir funds would be paid banks posted they would remain late tonight necessary those seeking C. E. superof banks, arrived tonight Montgomery to take charge of situation here. He the closing of the banks today to runs precipitated by the closing of the two Other Banks Closed.
The banks last week the City Bank Trust Company and the Bank Savings Compresident receivclosing Bank before bank wound through his family inflicted dropped verdict of cidental completed today directors and the had He bank early next and Woodlawn banks bank $25,000.
JURY PROBE TO BE DEMANDED.
George Company July He stated that would released banks and South closed doors that he He Birming reopen
7.
July 7, 1929
The Daily Illini
Urbana, IL
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TWO MORE BANKS FAIL IN ALABAMA
Four Institutions Close Doors Within The Past Ten Days
BIRMINGHAM, Ala., July 6.-(AP) -Affairs of two banks which closed today, bringing to a total four banking institutions which have failed to open in the Birmingham district within the past 10 days, were under investigation of the state banking officials tpnight. Meanwhile searching parties were doubling their efforts to locate the body of Dr. A. W. Bell, president of the Woodlawn Savings bank, one of the institutions which closed today. Dr. Bell was drowned this morning in the Coosa river near Vincent, Ala He was reported to have gone in swimming with a party of friends shortly after he arrived at his country place for the week end. The report of the closing of the Woodlawn bank caused a run on the Southside bank which prompted officials to order its doors closed. Officials of the Southside bank said that closing was temporary and that the bank would re-open for business Monday morning. As the report spread throughout the district, mild runs started at other banks. The runs were halted in most instances when offcials announced that all depositors wishing to withdraw their funds would be paid promptly. Judge C. E. Thomas, state superintendents of banks, arrived tonight
8.
July 7, 1929
The Springfield News-Leader
Springfield, MO
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OFFICERS KILLED
President of One Drowns, Cashier of Another Dies Of Bullet Wound
By The Associated Press RIRMINGHAM. Ala., July 6.-Affairs of two banks which closed today, bringing total four banking institutions which have falled to open in the Birmingham district within the past ten days, were under investigation of the state banking officials. Meanwhile. searching parties doubled their efforts to locate the body of Dr. A. W. Bell, president of the Woodlawn Savings bank, one of the Institutions which closed today. Dr. Bell was drowned this morning in the Coosa river near Cincent, Ala. Dr. Bell was reported to have gone in swimming with party of friends shortly after he arrived at his country place for the weekend. Run Started The report of the Woodlawn bank closing caused a run on the Southside bank which prompted officials to order its doors closed. Officials of the Southside bank said that closing was temporary and that the bank would reopen for business Monday morning. As the report spread throughout the district, mild runs started at other banks. The runs were halted in most instances when officials announced that all depositors wishing to withdraw their funds would be paid promptly.
Cashier Dies John R. Wallace, cashier of the Avondale bank and Savings company, died the day before the bank closed. from bullet through his abdomen, said by members of his family to have been accidentally inflicted when pistol he was handling dropped to the floor and discharged. Coroner J. S. Russum rendered a verdict of accidental death.
9.
July 9, 1929
The Grand Island Independent
Grand Island, NE
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GRAND JURY MAY INVESTIGATE IT
Birmingham, Ala., July 9. (A)-Routine investigation was being cleared by a Jefferson county grand jury today preparatory to opening of a probe into bank conditions in the Birmingham district, the inquiry being brought about by the closing of five banks here in the past two weeks. Indications were that the bank probe would be taken up by the grand jury tomorrow or Friday. The banking situation was called to the attention of the inquisitorial body yesterday in the charge to the jury by Judge Russell J. McElroy who told the jurors that they were fully empowered to conduct an investigation and "if the evidence warrants to return indictments.' Of the five banks which have closed, at least three are declared to be solvent and able to pay depositors dollar for dollar. Banks forced to close were: The Southside bank: the Leeds State banks, the Woodlawn Savings bank, the City Bank and Trust Company, and the Avondale Bank and Savings company. J. Lassiter, president of the Avondale and City banks, is confined in a New York hospital following his collapse when informed of the closing of the two banks. Meanwhile search is being continued for the body of Dr. A. W. Bell, president of the Woodlawn Savings bank and a member of the Jefferson county board of revnue, who was reported drowned in the Coosa river near Vincent, Ala., last Saturday. Three investigations, one by the governor, one by the state banking department and a third, under the direction of the attorney general and the county solictor already are in progress.
10.
July 12, 1929
The Huntsville Times
Huntsville, AL
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INQUEST FINDINGS TO BE DELAYED
BIRMINGHAM July announced today that in the inquest inthe death Saturday Dr. Bell, preisdent of the defunct Woodlawn Savings bank and a member of the Jefferson county board revenue would not be available for publication until week. The report together with chemcal analysis of the contents of Dr. Bell's stomach will be submitted to Solicitor Paul O. Luck of Shelby county. The viscera forwarded the state chemist at Auburn Dr. Bell drowned in the Coosa rivnear Vincent, county, short while after his bank had closed its doors. Four witnesses were questioned by Coroner Russum and Coroner ker of Shelby yesterday. Dr. S. Wallace Birmingham general hospital testified he was director of the Woodlawn bank and that he had discussed reopening of the bank Dr. Bell shortly before the ter left for his Vincent. said Dr. Bell had declared against of the institution to protect its small depositors. Walter Chancellor, Coosa river ferryman, testified found the fish trap. He in the arms and indicated the victim had been seized with cramps. other witnesses were Tom W. Glenn, caretakers of Dr. Bell's plantation, who were of swimtime his death. They said Dr. Bell cried out that he had been cramps before disappearing. Their efforts were futile to reach him. Funeral services for Dr. Bell were conducted yesterday afternoon with churchmen of the board of revenue acting as
11.
July 26, 1929
The News-Star
Monroe, LA
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JURORS RETURN PARTIAL REPORT IN BANK PROBE
'Grave Irregularities' are Found in Method of Handling Funds.
By Associated Jefferson county grand jury report on its activi turned partial in banking ties which tices in charged that were found in the method of the defunct Wood dling funds of lawn Savings bank. Dr. Bell. The report declared the bank, had been late president of indebted to the extent found to thousands of dollars' to of Dr. drowned while the bank swimming friends in the Coosa an hour beriver near permanently closed fore the as of heavy its doors His its resources by declared accidental by the death was coroner. desire to protect depositors of the Woodlawn the that report be taken by the liqui mediate action dating agent to prevent of funds of Dr. The report not mention the sult of investigation banks the district three this month the Savings and They City Bank and Trust Trust Leeds State bank. The company bank of closed week since has been for one opened. submission of its report, the grand jury recessed until 10 m. July 30 to allow state auditors at work on accounts of the chosed bank, to continue their work.
12.
July 27, 1929
The Tampa Times
Tampa, FL
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BANK HEAD'S DEATH BEING INVESTIGATED
Suicide Is Suspected When Irregularity Is Shown.
By The Associated Press Birmingham, Ala., July Charges made yesterday in a partial report of the Jefferson county grand jury of "grave irregularities" in the handling of funds of the defunct Woodlawn Savings bank were followed closely by reports here and in Montgomery that the attorney general's office is conducting an investigation to determine if Dr. A. W. Bell, late president of the bank actually died by accidental drowning as his relatives and friends claim. There was no confirmation of reports published in Montgomery that Attorney General Charles McCall has ordered an independent investigation. Newspaper reports said detectives working under McCall were investigating the case from three angles-that Dr. Bell died, did accidentally that he committed suicide or was slain and his body thrown into the Coosa river. The paper said its information came from "reliable sources,' but did not disclose the basis for the investigation. Testimony at the inquest was that Dr. Bell on July while swimming with friends and within an hour after run on his bank had forced its closing. The coroner has not returned verdict. McCall would not comment on the report. He has been closeted with the grand jury here since it began its investigation nearly two weeks ago into causes which led up to the closing of five state banks. In submitting the partial report to Circuit Judge J. P. McCoy the grand jurors asserted they had "ascertained that there have been grave irregularities in the disposition of funds of the Woodlawn bank.
13.
July 27, 1929
Pensacola News Journal
Pensacola, FL
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JURY WORKS ON BANK FAILURES
Alabama Jurors Report On Grave Irregularities
BIRMINGHAM, Ala., July 26.-(AP) Charges made today in a partial report of the Jefferson county grand jury of "grave irregularities" in the handling of funds of the defunct Woodlawn Savings bank were followed closely by reports here and in Montgomery that the attorney general's office is conducting an investigation to determine if Dr. A. W. Bell late president of the bank actually died by accidental drowning, as his relatives and friends claim. There was no confirmation of reports published in Montgomery that Attorney General Charlie C. McCall has ordered an independent investigation. The Alabama Journal said detectives working under McCall were investigating the case from three angles-that Dr. Bell did accidentally drown, that he committed suicide, was slain and his "ody thrown into the Coosa river. The
14.
July 27, 1929
The Macon News
Macon, GA
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Two Advance to Bell Death Being Quarter-Finals Probed Following Grand Jury Brief NEW ORLEANS, July 26 long held up only The daily rains
State Hints Suicide in Drowning of Defunct Bank Head as Irregularities Shown
BIRMINGHAM. Ala., July 27. Friday in partial report of the Jefferson coungrand jury of 'grave irregularithe handling of funds the defunct Woodlawn Savings bank were followed by reports here in Montgomery that the torney general's office is conductan investigation to determine Dr. Bell late president the bank. actually died by accidendrowning as his relatives and friends claim There was no confirmation of reports published in Montgomery that Attorney General Charlie McCall has ordered an independinvestigation The Alabama ent Journal said detectives working under McCall were investigating case from three angles-that the Dr. Bell did accidentally drown, that he committed suicide or was slain and his body thrown in the Coosa The paper said its formation came from did not disclose the but basis the investigation. Testimony at the inquest was that Dr. Bell drowned on July swimming with friends and while for Gus Feur enough here Friday Clifford Sutter of of Miami and win their way New finals of the the quarter men's tennis singles matches. Sutter Columbia 6-2 by default from Arch Holder of Atlanta adHarry Gault vanced to the fourth round with his defeat of Holland McTyeire of 6-3, 6-4 within an hour after run on his forced closing The bank had coroner has not returned verdict McCall would not comment on submitting partial In to Circuit Judge report Moody. the grand jurors asserted they had "ascertained that there have been grave in the disposition of funds of the Woodlawn bank Continuing the report said "the grand jury is now of the opinion based upon its investigation the affairs and transactions of said bank. that the estate of Dr W. Bell indebted to said bank in the sum many thousands of dollars The report recommended that immediate action be taken by Horace Wilkinson liquidating agent for the Woodlawn bank to disposal of any assets from the Bell estate.