gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d195ae2f8591508a
Response Measures
None
Receivership Details
Depositor recovery rate
47.7%
Date receivership started
1927-04-02
Date receivership terminated
1933-09-30
OCC cause of failure
Economic conditions
Share of assets assessed as good
57.9%
Share of assets assessed as doubtful
30.7%
Share of assets assessed as worthless
11.4%
Description
Bank suspended in mid-March 1927 and later placed in receivership (dividends paid by receiver in 1927–28).
Events (5)
1.May 14, 1920Chartered
Source
historical_nic
2.March 13, 1927Suspension
Cause
Local Banks
Cause Details
Closing of other Palm Beach county banks and related runs in the area precipitated the bank's suspension.
Newspaper Excerpt
the closed First National Bank of Lake Worth, Fla., was considered the first important national banking institution in the State to suspend operations.
Source
newspapers
3.March 15, 1927Other
Newspaper Excerpt
LAKE WORTH WITHOUT BANK ... the First National ... announcing this morning with sign the doors to the effect that the bank closed for the protection of depositors
Source
newspapers
4.April 2, 1927Receivership
Source
historical_nic
5.December 4, 1927Receivership
Newspaper Excerpt
BANK RECEIVER TO PAY INITIAL DIVIDEND ... Following the heels of announcement ... the First National bank of Lake Worth ... receiver ... declared 10 per cent dividend to depositors
Source
newspapers
Newspaper Articles (25)
1.March 14, 1927The News JournalWilmington, DE
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THREE MORE BANKS
Lake Worth and Del Ray Institutions Quit; Farmers' Gives Fight.
RUN ON FOURTH
(By West Palm Beach, March Palm Beach county banks failed open their doors today, while other local financial institution sought stave run. The Farmers' Bank and Trust Company of West Palm Beach, one of the largest banks in this section, did not open today following night by Reese, its president that the closing of local banks and Palm Beach bank last Tuesday had precipitated action.
Lake Worth Without the First National Bank, Lake Worth, and the Ocean City Bank, of Del Ray, did not open Continued on page
2.March 14, 1927Evening StarWashington, DC
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U. S. Officials Unalarmed. Treasury officials are not worried over the national banking situation in Florida, but characterized the condition of the national banks there as "generally good." The closed First National Bank of Lake Worth, Fla., was considered the first important national banking institution in the State to suspend operations. Lee H. Northcott, national bank examiner for Florida, is in charge of the national bank situation in Florida.
3.March 14, 1927Lansing State JournalLansing, MI
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BANKS CLOSED
Another Seeks to Stave Off Severe Run
WEST PALM Fla., March 14. (By A.P.) Three Palm Beach county banks failed open their doors Monday, while another local financial institution sought to stave off The Farmers Bank Trust company of West Palm Beach, one of the largest banks in this tion, did open Monday following midnight by Reese, its president, that closing of local banks and Palm Beach bank last Tuesday, had precipitated the action. Simultaneously First National bank Lakeworth Ocean City bank of Delray did open Monday morning. reasons for their separate tions were made public. Hawkins, state bank examiner, assumed charge of the Delray Intion worth left that city without at and The Delray bank was capitaldeposits aggregating and the Lakeworth bank had deposits of 622.690 both their statements published in July, 1926. line here Monday morning in termined run Citizens' bank West Palm Beach. sizeable crowd started forming hour before usual opening time augmented by the Farmers bank reports had not been opened. The line stretched solid almost block Clematis street and on Narcisstreet
4.March 14, 1927The Brooklyn Daily TimesBrooklyn, NY
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THREE MORE BANKS IN FLORIDA CLOSE
Farmers' Bank & Trust Co. Succumbs to Run-Two Others Soon Follow Suit.
Palm Beach Fla March 14 The First National Bank of Lake Worth the Bank of doors today failure of the Farmers' Bank Trust The two In stitutions closed without previous Six banks In the district have now closed nine in less than Frenzled depositors clinging In groups about the streets here and runs feared at remaining banks being made by Institutions import funds from Miami and Jacksonville to off of failure. No bank was open at Palm Beach after past week's closings and indications were today that members the millionaire col. there might take hand in the situation The Bank and Trust Company one of two banks on which heavy made last Tuesday when banks and in Palm Beach their doors. The Farmers' Bank may reopen within 30 or 60 days. 11 Reese said the bank forced close "culmination of circumstances made acute by the closing of the three banks last Public funds held by the bank said to be absolutely safe. se cured by municipal bonds and de pository bonds underwritten by counts safe. Reese said.
5.March 14, 1927Lancaster New EraLancaster, PA
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MORE FLORIDA BANKS CLOSED
Three Fail to Open and Another Tries to Stave Off Severe Run.
WEST PALM BEACH, March P.)-Three Palm Beach county banks failed to open their doors today. while another local financial institution tried to stave off severe run. The Farmers' Bank and Trust Company, Palm banks this did not open today night by Reese, that the closing of banks Palm Beach bank last Tuesday precipitated the the First National Lake Worth. the Ocean did morning. their actions were made public.
6.March 14, 1927The Daily ReviewClifton Forge, VA
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ANOTHER CLOSES. AND STILL
Lakeworth, March Bank, of this The First National closed its doors. The place, today that the action was officers state the interest of the taken protect depositors.
7.March 14, 1927Santa Barbara News-PressSanta Barbara, CA
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THREE BANKS CLOSED; ON
Line of Depositors Long Braves Rain to Draw Out Cash from West Palm Beach Institution
WEST PALM BEACH, (Fla.), March Beach county banks failed to open their doors today while another local financial institution fought stave off severe run. The Farmers Bank and Trust Company of Palm Beach, largest banks this section, did not open following midnight announcement by Reese, its president, that closing two local banks Palm Beach bank last Tuesday action. LAKE WORTH BANKLESS the First National Bank Lake Worth and Ocean City bank of Del Ray not open this morning. No their separate actions made public. Hawkins, state bank assumed charge the Del Ray institution. The closing Lake Worth left city bank. The Del Ray bank was $25,000 with deposits aggregating and the Lake Worth bank had capital of 000 and deposits both in their last statements published July, 1926. line of men and women pelting, rain here this morning determined Citizens Bank of West Palm Beach sizeable crowd started forming hour before its usual opening time and aug. mented by the reports that Farmers Bank had not been The line stretched solid block on Clematis street and Narcissus street half block. Mild excitement prevailed while friends of the bank sought to talk with each person in line attempt influence all against funds. LINE BRAVES RAIN The line remained intact, though hard shower dispersed curious crowds which threatened times jam traffic this Reports were circulated that armored truck enroute here with substantial financial aid from Miami Officials and directors of the Citizens Bank who had been session all night, met the run this morning with statement assuring depositors that sufficient funds had been received to pay every one and that "would not close now hereafter." believe that the successful withstanding the ordeal through which Palm Beach has will factor in the early confidence,' the declared. The Citizens with the Farmers Bank week weathered the determined runs.
8.March 15, 1927Birmingham Post-HeraldBirmingham, AL
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FRANTIC RUN ON FLORIDA BANKS HALTS
Armored Truck Rushes 12 Sacks Of Currency To Rescue
THREE CLOSINGS START TROUBLE
Officials Issue Quieting Statements To Excited Depositors
(By Associated Press) BEACH. March WEST PALM in the Palm quiet tone prevailed period of Beaches tonight following when determined excitement today the bank. prompted run on of three Beach by the closing county banks. early in the afternoon. only short lines of depositors at the windows. Two of the three banks remaining open here did not experience runs. They the regular closing hours announcing that plenty of funds had been obtained pay remained until o'clock to meet all requests for payments.
Truck Bring Aid
The was aided largely by the arrival armored truck from Miami, bearing sacks currency the beleagured Citizens which did not for business included Bank and Trust the largest banking institutions here, which closed was announce the positors the clared not result of the closing. Plans reopening the within 30 days were anThe First National bank of Lakeworth and the Ocean City of were other which did open official statement closing officials here and quieting ments, upon the banks their "proper assuring depositors that the banks which remained be meet every Officials of Citizens pressed to bank will even stronger than when we open directors of the Farmers' Bank Trust company, said It was decided to the
9.March 15, 1927The Vicksburg PostVicksburg, MS
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LAKE WORTH WITHOUT BANK
LAKE WORTH Fla., March 15 Worth today is withthe first time since 1913. the First National rth announcing this morning with sign the doors to the effect that the bank closed for the protection of depositors The Bank of Lake Worth first to serve this city. expended in 1925 and operated under the name of the First Bank and Trust Company It closed its doors February 24. and is now in charge of Tomkins C Haw. "ine state bank examiner The closing of this hank was said to have precipitated withdrawal of deposits at the First National of this city and the suspension of the Farmers' Bank and Trust Company at West Palm Beach was announced. cause. the officers of the bank here to suspend for the protection of depositors
10.March 15, 1927The Springfield Daily RepublicanSpringfield, MA
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THINK CONFIDENCE RESTORED IN BANKS PALM BEACHES
Run on Latest Institution Hit Eases and State Controller Ask Citizens Co-operate
West Palm Beach, Fla., March quieter tone prevailed in the Palm Beaches tonight following period of excitement when determined run Citizens' bank, prompted by closing of three banks in Palm Beach abated early this afternoon, leaving only short lines of depositors at the windows. Two of the three banks remaining open here did not expect runs. They the regular closing hours. The Citizens' bank, however, anthat plenty of funds had been pay open until to meet all requests for payment. banks which did not open today included the Bank Trust of the largest banking institutions here. The bank temporarily, nounced, the interest of the Plans for reopening within 30 or days announced. Officials Ask Co-operation.
The First National bank of Lake bank Delray other banks which did open today official ment issued regarding their closing. banking officials here and Tallahassee issued quieting statements calling upon patrons their institutions "proper co-opassuring depositors that the have meet every demand. Officials the Citizens' their not to close Inactivity the real estate marand the fact that much the bank's receivables were based upon real security were given by Ernest Amos, for the closings. which than the banks could liquidate their receivables, sulted breaking of serves, for the suspend, he said, adding, follow. bank is closed, that it
23 of 51 Closed Reopened.
As evidence of the latter statement, Mr to 23 the past the banks attitude of the public, Amos reason for the recent suspensions, the has cashing travelers' checks the winter instead of helping them, he Officials of the Central Farmers' bank the Bank West Palm Beach, the other institutions here, decondition of their banks to today brought the tobanks the Three these closed last The First bank Lake Worth the first important nationbank the state close.
11.March 15, 1927Daily PressNewport News, VA
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PALM BEACH BANKS QUIETER AFTER SUSTAINING
Citizens Bank is Besieged by Depositors But Cares For All Applicants With Cash, Ending Stampede.
WEST PALM BEACH, Mar. tone prevailed in the Palm Beach tonight following riod of when ermined run on the Citizens Bank, prompted by closing of additional Palm Beach county banks, abated early in the afternoon only lines of depositors at the Two of the three banks remaining did runs. The announcing that plenty of funds obtained pay every dtpositor, remained open six o'clock meet all requests for payments. The normaley was alded largely by the from bringing sacks Citizens Bank The banks which did open for business included Farmers Bank Trust Company of the largest nounced the interest positors whom declared cent result the for opening the bank within 30 or 60 announced The First National Bank of Lake Worth and the Ocean Bank Delray the other banks which did not open official issued regarding their closing today brought the total number banks which had suspended in the Palm Beaches within few months seven Three of closed last officials here the the 'proper operation that the will be able to meet every demand Officials of the Citizens Bank pressed their determination bank will be stronger and Bank Trust said after which was decided institution. Inactivity the real estate market and the fact that much the banks receivables kind of was given the for the recent closings Florida. "The great withdrawals which faster than the banks can their the breaking down reserves, making necessary for the institutions said the comptroller ding follow because bank is closed that insolvent.'
THREE FLORIDA BANKS FAIL TO OPEN DOORS of Previous Failures Precipitated Action of West Palm Beach Officials
Beach, March county banks failed open their doors day, while another local financial institution sought ostave off The Farmers Bank and Trust of West Palm Beach, pany banks in this section, did the largest not today following midnight announcement by Reese, that the closing of two local banks and Palm Beach bank last Tuesday had precipitated the action. Simultaneously the First National bank of Lakeworth and the Ocean City bank of Delray did not open this morning. No reasons for their separate actions were made public. Hawkins, state bank examiner, assumed charge of the Delray tution. The closing Lakeworth that city without bank.
13.March 15, 1927Beatrice Daily SunBeatrice, NE
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OCCUR DRIVING
Deluged Depositors Refuse to Fall Out Of Lines
West Palm Beach, March run the Citizens bank which started the nine opening hour and continued until early afternoon, abated o'clock this afternoon with small lines within the bank and the windows. The long line of trons was previously stretched most block on one street and half block on another, had disappeared and only curious throng specremained.
Financial Crash The Bank Trust comof West Palm Beach, of the largest banks in this section, did not open today following midnight president, that the closing two local banks and Palm Beach bank last Tuesday had precipitated the the First National bank of Lakeworth and the Ocean City bank of Delray did not open this morning. No reasons for their separate actions were made public. Hawkins, state bank examiner, assumed charge of the Delray instltution. The closing at Lakeworth left that city without bank. The Delray bank was capitalized $25,000 deposits aggregating and the Lakeworth bank had capital of and deposits of both in their last statements published in July 1926. long line of men and women braved pelting. rain here this morning determined run the Citizens bank of West Palm Beach. sizeable crowd startforming hour before its usual opening time and augmented by reports that the Farmers bank had not been opened. The stretched solid almost on Clematis street and Narcissus street half block. Mid excitement prevailed, while friends of the bank sought talk with each person in line in an tempt influence all against withof funds. The line remained intact. though hard shower dispersed lous crowds which threatened times to jam traffic at this intersection. Officials and directors of the Citihad been session the run this forning all night, met with statement showing the depositors that sufficient funds been obtained to pay every one and that the bank not close now or hereafter.'
14.March 15, 1927The Sioux City JournalSioux City, IA
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QUIETER TONE IN PALM BEACH BANK SITUATION
West Palm Beach, Fla., March quieter tone prevailed Palm Beaches tonight following period of excitement when determined run on the Citizens bank, prompted by the closing of three banks in Palm Beach county, abated early this afternoon, only lines of deat the windows. Two the three banks remaining open here did experience runs. They the regular closing hours. Citizens bank, however, remained until o'clock to meet all requests for payments. The return normality was aided largely by the arrival from Miami of sacks of currency for the Citizens bank. The banks which did not open today included the Farmers Bank and Trust company. The bank closed temporarily, was announced, in the interest the depositors. Plans for reopening the bank within 30 to 60 were announced. The First National bank, of Lake Worth, and the Ocean City bank, of Delray, were the other banks which did open today. No official statement was issued regarding their closMeanwhile banking officials here and at Tallahassee quieting statements calling patrons give their institutions "proper co-operation' and assuring depositors that the banks which have remained open able to meet every demand Officials the Citizens bank expressed their determination not to close "now or hereafter "The bank will be even stronger than when open offiand directors of the Farmers said. Inactivity of the real estate market and the fact that much of the bank's based upon real estate security was given by Er nest Amos, state comptroller, the cause for the recent closings.
15.March 15, 1927The Charlotte ObserverCharlotte, NC
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FLORIDA BANK SURVIVES RUN
STARTS ON PAGE ONE. date their have resulted in the down of reserves, making it necessary for the institutions to suspend, said the comptroller. adding that "it does not necessarily follow that because bank closed that it is insolvent." As evidence of the latter statement, the comptroller pointed to the re-opening of twenty-three of fifty-one suspended banks in Florida within the past year. Declaring that the condition of most of the suspended banks has aggravated by the agitation and attitude of the public, Mr. Amos
WORST EVER. am not looking for any greater financial depression, if the people will keep their heads. If they beand make run on any bank of any locality, the situawill become aggravated. The people themselves can injure or help such situation. Banks have to be worked with and not against. With the proper co-operation of depositors and creditors, banks can be reopened. It takes wholehearted com murity spirit to put it over." Another reason for the recent suspensions, the comptroller believed has been the cashing of travelers checks for tourists coming into the state this winter. This costs the banks something instead of helping them, he declared. IN GOOD CONDITION. Officials of the Central Farmers bank and the National bank of West Palm Beach, the other institutions which have remained open here. declared today the condition of their banks to be good. They anticipated no financial difficulties. From Washington came word that the treasury officials were not worried over the condition of national banks in Florida which was characterized as generally good. The closing of the First National bank of Lake Worth was said to be the first important closing of a national bank in the state. ONLY MILD EXCITEMENT Scenes the Citizens bank today resembled the runs of last week when thre banks were closed but there was only mild excitement. A large part of the crowd was composed of the idly curious who gathered to watch the long lines of depositors move toward the windows of the paying tellers. Rain scattered the curious milling throng but the depositors stuck to their places in the line until about o'clock in the afternoon when only a few per. sons remained to present their checks to the tellers. During the run missionary work was carried on by friends of the bank who sought to persuade the line to disperse.
16.March 15, 1927The Roanoke TimesRoanoke, VA
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DETERMINED PALM BANK
Excitement Caused By Closing of Three More Institutions
FROZEN ASSETS CAUSED TROUBLE
Treasury Officials Not Worried Over Condition of Banks
West Palm Beach, March quieter prevailed in the Palm Beaches tonight following period today when determined Citizens prompted by the closing three additional Beach county abated early the afternoon leaving only thin lines of depositors the windows. banks remaining did not The that funds been every depositor ments. o'clock to meet all requests for pay-
Money Sent From Miami. return normalcy was aided largely the arrival armored truck from Miami twelve currency for the The which not open for the Bank and Trust Company, one of largest here, closed temporarily. was announced. the interest of the depositors the bank's clared would not cent sult the closing. Plans reopenthe thirty or sixty National of Lake Worth and the City Delray the which open today. official statement their closing The closings today brought the banks have Palm Beaches within suspended the few seven. Three of these officials here and Tallahassee issued upon the patrons of banks to institutions "proper tion," and assuring that the banks have remained will be able every Will Close.
Officials Citizens bank pressed determination not to close bank be even stronger than when open officers directors of the Farmers Bank and Trust said an night was decided to the of the market are based that troller security was given by State CompErnest Amos the cause for the closings in Florida great withdrawals which are faster the banks can liquidate in the necessary sussaid the comptroller. adding follow that because bank is closed that insolvent. evidence of the latter statement, the pointed the re-opening suspended banks in Florida within the that the of most the banks has gravated and attitude the Amos Aggravate Situation. am looking greater the people will their heads. If they become frightened on any bank locality the situation aggravated. The people theminjure help Banks With the proper operation of depositors and community spirit to put reason for the recent susbelieved has checks into winter This costs the banks some-
Continued on Page Column
In High Court anticipated no financial difficulties. Washington Not Worried From Washington came word that the treasury officials were not worried over the condition of national banks in Florida, which was characterized as generally good. The closing today of the First National Bank of Lake Worth was said to be the first important closing of.a national bank in the State. Scenes at the Citizens Bank today resembled the runs of last week when three banks were closed, but there was only mild excitement. A large part of the crowd was composed of the idly curious who gathered to watch the long lines of depositors move to. ward the windows of the paying tellers. Rain scattered the curious milling throng. but the depositors stuck to their places in the line until about 2 o'clock in the afternoon, when only a few persons remained to present their checks to the tellers. During the run missionary work was carried on by friends of the bank who sought to persuade the line to disperse.
In search of copper and other minerals, thousands of square miles in Northern Rhodesia are
18.April 15, 1927The Palm Beach PostWest Palm Beach, FL
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MAY OPEN BANK
Special The Post Lake Worth April Several hundred depositors met with officers and of the First National Bank of Lake Worth at 7:30 o'clock tonight at the American Legion arena here and voted as being in favor of the "freezing" agreement and other plans for reopening the bank.
EFFICIENCY "HI! Kelley to brickon the scaffold above him, "throw me brick "Phwat for?" demanded the brick. layer need one more to fill this hod I'm bringing London. measure for indeterminate prison Representatives Catts and Oliver would authorize purchase of Con nor's highway.
19.December 4, 1927The Palm Beach PostWest Palm Beach, FL
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BANK RECEIVER TO PAY INITIAL DIVIDEND
Tunnicliffe Announces Early Payment of 10 Percent to Depositors
TOTAL OF $107.232.38 WILL BE DISTRIBUTED
Report Shows Interest Due Institution Has Paid for Receivership
Following the heels of nouncement by Cunningham, that dividends would be paid depositors of both First Nation. bank of Lake Worth the Palm Beach National dividend of 10 per of the Commercial Bank Trust company declared yesterday The dividend declared follow. Mr. return from Tallahassee where the approval of the given. Checks aggregating the amount were issued by the brought here by the Dividends will paid all deposi. the bank hold certificates issued Payments be made immediately presentation of the certificates. notification of the divi. dend being mailed out yester. day by Mr. Tunnicliffe holders of certificates in the The contents as hereby notified that first has issued by the of the be made at the office of the mercial Trust Palm Beach, and that the certificates presented that proper made ceiver's must the same the address given above the proper on the certificate, be turned to the owner together dividend Mr. as The bank took the office receiver last recent to the that the the earned the the up to No. vember had been the the and leave operating profit of dividends the National Lake Worth and the Palm Beach National bank December made Thursday Cunningham, for these He said that the dividend depositors First National bank of Lake Worth would and those the Palm Beach bank would With the payment of the dividend the Palm Beach stitution 1926 The dividend the Worth institution be its
20.March 1, 1928The Tampa TimesTampa, FL
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Lake Worth Bank Receiver Wins Suit
A verdict in favor of the plaintiff was awarded by jury in the federal court today in the suit of John B. Cunningham, receiver for the First National Bank of Lake Worth, Fla., against C. N Smith, one of the of the inand owner of 24 shares of Cunningham testified that stockholders the bank had been assessed 100 cent. of their stock following the collapse of the institution on March 13, 1927. awarded judgment against Smith for
21.June 22, 1928The Palm Beach PostWest Palm Beach, FL
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PROMISE IS GIVEN OF BANK DIVIDENDS
Receiver of Two Defunct Institutions Announces Early 10 Percent Payment
A note of optimism was injected yesterday into the local financial situation by announcement that dividends would be paid shortly to depositors defunct National bank of West Palm Beach the First National of Lake Worth. B. Cunningham, receiver for both institutions, announced yesterday that in late July or early Angust substantial dividend would be deposits the West Palm Beach first to be paid since it closed last fall. At the same time he announced that checks were expected shortly from Washington for 10 per cent dividend on the Lake Worth bank. This bring the dividends to 35 per cent.
Policeman J. M. Tapscott showed the boys how is done yesterday on the when hung up of Yackie and Adams each scored 62 to tie for
22.June 15, 1929The Palm Beach PostWest Palm Beach, FL
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DEPOSIT ACCEPTANCE BY INSOLVENT BANKS IS HELD TO BE FRAUD
Judge Ritter, at Miami, Renders Decision of Widespread Local Interest In Settling Suit Against First National Bank Lake Worth
ENDERING a verdict of wide interest in local circles, Judge Halsted L. Ritter of the U. S. southern district court at Miami has held that acceptance of deposits by banks when the officers know the institution is in an insolvent condition, is fraud. Judge Ritter directed jury to return verdict for Mrs. Nellie M. Bunker of Lake Worth, defendant in suit instituted by the receiver of the defunct First National Bank of
Lake Worth. The receiver brought suit against Mrs. Bunker, sister-in-law of E. Bunker, president of the First Bank & Trust Company of Lake Worth, on check made out to Mr. Bunker made out 15 minutes before the bank closed at noon March 12, 1927, never reopen. On March 12, 1927, Mrs. Bunker with her brother-in-law went the bank to deposit $17,000 check. The money was part of the purchase price of an ice plant and was drawn on Tenn., bank. At the bank Mrs. Bunker deposited the check and drew for $6,500 made Mr. Bunker, his share of the money. They left the bank at about 11:45 16 minutes before the bank closed at noon and declared insolvent. Hearing the next day, Sunday, the bank was insolvent, Mrs. Bunker wired the Chattanooga bank to stop payment on the check. Later the receiver instituted suit against Mrs. Bunker for $6,500, the face value the check. Rufus Boozer and Wallace H. Boozer of Boozer & Boozer, attorneys for the defendant, filed plea of fraud, holding that the bank officials knew of the bank's insolvent condition and wrongfully neglected to make the The complainant's demurrer to the plea of the defendant was argued before District Judge H. D. Clayton at Miami, January 31, 1928. Sherman Bainum Daytona Beach and Wideman Wideman represented the complainant. Mr. Boozer declared Friday that probably many persons could institute suit with some hope of success, butmight be stopped by the statute of limitations or through having signed claims. Mr. Boozer cited the following case, brought before the United States supreme court, of St. Louis San Francisco R. Co. Johnson, 33 L. ed. 683, where the question the sufficiency of fraud allegations "The bill alleged that the bank was on the 5th day of May: that this was well known to its officers: that it wrongfully neglected to disclose its insolvency to complainant, and, by continuing business and otherwise. represented to complainant and all other persons dealing with it that was solvent; that complainant, on the faith of these representations, believed such be the fact, without suspicion that the bank was, or was in danger of becoming, insolvent; that, acting upon the representations, and on the bank's solvency, complainant delivered the draft; the next morning the bank closed its doors, and the draft was collected thereafter; and that by reason the premises the draft or its proceeds did not become the property of the bank. The receiver in his answer specifically denies these averments. We think the issue thus framed was sufficient to enable the court to proceed to decree. The fraudulent intention flowed from the guilty knowledge, and the bank must be held to the consequences of representation which it knew to be contrary to facts and upon which the complainant innocently acted. Granted that the omission to disclose the insolvency, if there had been ground for the supposition that the bank might continue in would not be sufficient there nothing for such a belief rest on here. As matter of pleading, the was that the bank wrongfully neglected to make the disclosure; as matter of fact the condition of the bank was so that it was its duty to make it. The omission specifically state in the pleading the degree of insolvency the bank's conduct fraudulent was not fatal, as the showed the intention of the pleader, and the particular contention could be fairly tested on the hearing.
23.July 25, 1929The Palm Beach PostWest Palm Beach, FL
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DAILY RECORD
CIRCUIT COURT
John B. Cunningham, as rec. of First National Bank of Lake Worth, Fla., vs. Simi, al., bc. fm.; John B. Cunningham, as rec. of Bank of Lake Worth, Fla., vs. Simi, al., bc. fm.; The Edward Roddy Corporation Thomas Farrell, also known Farrell, al., be. fm.; WilMalony. Elizabeth Taylor Foster, by William Foster, next friend, vs. The Publishing Company, corp., praec. sums. ad resp, dams. $10,000; Gould & McWilbur S. Foster VS. The Metropolis Publishing Company, Fla., corp., prace. for sums, ad resp. dams. $2,500; Gould McGee.
TRIAL
D. L. Shackelford, doing business Bainbridge Motor Car Co., Percifield, and H. E. Percifield, doing business as Percifield Automobile Co., dams. $975: Winters, Foskett Wilcox: McCoy & Finch. Strick on motion of plaintiff; no objection by defendant. Thomas H. Fancher VS. George Johnson, dams. Fancher, Paty Warwick: Houser Wood. Final judgment entered. Carl Hannon, his father and next Will Palm Beach Oil dams. $50,000: Blackwell, Moore: Baker White and Wideman. Continued o'clock Thursday morning. Oother cases continued until today.
MARRIAGE LICENSES Garland Howe Jacques, M. street, Katherine DuBruth, 741 street.
REAL Master's Clarence Geist. 1-2 NE of NW Sec. 32-47-43 (10 and all that part NE 1-4 of Sec. 32of WD-Henry Phipps and wife. Gladys Frederick Johnson. Lot Vita Serena, Miller to John McDonald Lots to incl. Blk. in Miller being Trs. to Sec. WD-John Miller (wdr.) to John BUDDY BRIAN McDonald, Lots incl., MARY Blk. Miller Being Trs. In OF 77 incl., Sec. 19-46-42. "THE Master's Deed White (Spec. M.) Ira J. Brussel. Tract Picturesque Blk. Plat Developers, Inc., to L-F Realty Co. Lots and 46, Belvedere Court Add. No. Days Hunter to Tabb. Civil 41 of Ridgeway Beach, Units Vitaphone 18-42-37. Hunter, wf. of Thomas Hunter to Tabb. Lot Ridgeway Beach S-D, Sec. 18-
24.July 16, 1931The Palm Beach PostWest Palm Beach, FL
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Bank Receiver Sues Col. W. J. Southam
The Post Lake Worth Bureau Col. William Southam, widely known Canadian publisher of Hamilton, Ont., named defendant in $7,500 attachment suit filed in circuit court Wednesday by Roy Garnett, the First National Bank of Lake Attachment in the sum of with the United States Fidelity Guaranty Company of Baltimore, Md., surety, was filed. While with the law firm of Wideman. Wideman Wardlaw representing the plaintiff. refused divulge the they would not deny that connected the reported purchase Southam the bank's building at Lake Worth Authority was the receiver federal court sell the property Notice the on by the sheriff of five parcels of property owned by Southam and in the vicinity of Boca Raton including considerable ocean frontage signed by Deputy Sheriff Packwood and filed in court Wed. nesday
25.December 2, 1933The Palm Beach PostWest Palm Beach, FL
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Former Bank Receiver Here Dies in Boston
Word received the Boston John receiver national banks Miami West Palm Beach His followed stroke, suffered three weeks earlier. He years Mr. Cunningham for many the employ the federal government, and served ceiver for Boston banks. He became widely known federal circles through his connection the office the comptroller currency and member the bureau criminal investigation, department of justice receiver Palm Beach National bank, the National Bank West Palm Beach the First National Lake Worth, Cunningham made enviable
Rio Grande Texas cently voted for her cease being
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
