City National Bank (Miami, FL)

View Charter #13159 on SPMC View balance sheet

Episode Information

Episode UID
1315901572
Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
131590 national
Charter Number
13159
Start Date
December 22, 1930
Location
Miami, Florida (25.774, -80.194)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1536a3342d59b5ce

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Fed/other loan, Public signal of financial health, Full suspension, Books examined

Receivership Details

Depositor recovery rate
40.0%
Date receivership started
1930-12-23
OCC cause of failure
Governance
Share of assets assessed as good
44.6%
Share of assets assessed as doubtful
46.2%
Share of assets assessed as worthless
9.1%

Description

Closing attributed to malicious rumors; receiver H. Spurway took charge.

Events (5)
1. December 31, 1927 Chartered
Source
historical_nic
2. December 22, 1930 Run
Cause
Rumor Or Misinformation
Cause Details
Heavy withdrawals triggered by malicious/unfounded rumors and anonymous 'poison' letters alleging bank trouble.
Measures
Tellers paid out money to depositors during the run until the bank failed to open.
Newspaper Excerpt
There has been a run on this bank for some time... heavy withdrawals, due to malicious rumors
Source
newspapers
3. December 22, 1930 Suspension
Cause
Government Action
Cause Details
Board closed the bank following heavy withdrawals to protect assets; state examiners ordered closures of related institutions.
Newspaper Excerpt
the board of directors ... decided to close the bank; City National Bank failed to open
Source
newspapers
4. December 23, 1930 Receivership
Source
historical_nic
5. December 30, 1930 Receivership
Newspaper Excerpt
Spurway, national bank receiver, who is in charge ... Depositors of the City National Bank will know their showing of their accounts tomorrow, Spurway, national bank receiver, who in charge, yesterday.
Source
newspapers

Newspaper Articles (25)
1. February 6, 1928 The Times-Tribune Scranton, PA
Article from The Times-Tribune, February 6, 1928

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3 BANKS IN MIAMI CLOSED Run Then Starts On Another House-Anonymous Letter Writer Blamed. (By Press.) on the First tional bank the noon hour today following the failure of three other financial institutions to open for business today. The Bank Trust of fairs of of deposits letters predicting its ure. the other instinot open in the belief that they in financial position to withstand large withwhich might result from excitement incident to the ing of the Trust company. Under normal conditions they could operate, he said, adding that there been no sign at either place. Police author of the bank the open counts trust funds were fully banks reported no unusual ithdra It this afternoon that seven million dollars would be sent to the National bank here from the federal reserve in The will be to pay who wish to withdraw their funds. run on the bank continued an manner this

2. February 7, 1928 The M'Alester News-Capital McAlester, OK
Article from The M'Alester News-Capital, February 7, 1928

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MIAMI CALM IN FACE BANK RUN Mysterious Author Letters Causing Withdrawal of Deposits From Bank Is Sought by Police. eles in this city today were reactIng from the cumulative effects of "more than dozen anony letters which precipitated suspension of one bank's business, brought on temporary closing for two others and were responsible for an orderly but determined run on fourth Meanwhile, police sought the mys terious author of an inde.erminate number of letters mailed Jan. 28 in tion Miami, signed Hiram and adorn ed with crudely drawn Masonic emblem. "Quietly get your money out of the Southern bank and Trust company: it is going soon. these letters said, in varying language: but similar substance. Results of these missives today had included: Taking over of the Southern bank and Trust company by State Comptroller Ernest at the of bank officials, stimulated to this step by heavy withdrawals. Orders by Comptroller Amos that the Citizens bank and the Bank of porarily close to avoid possible demands of their resources. A run on the First National bank which kept tellers busy until closing time handing out money to depositors as they demanded it. Other institutions of the city day had prepared for their possible in the emergency Increased part of currency had been supplies Nearly all of them perienced slight withdrawal increases early yesterday but several reported later than deposits showed jump. the City National announeing a $400.000 boost. decided best to wait for further developments. Royce Mitchell was on the sick list Sunday and Monday Mrs. John McGinley returned from the hospital Sunday after spending four weeks there. She un. derwent an operation for goiter. Mr. and Mrs. Charles Whitcotton left Sunday for the Dallas market. where they will purchase a stock of millinery for the new store Mrs. Whitcotten expects to put in at once. Mrs. Tom Blalack left Mon day night for St. Louis to market for her millinery store Mr. and Mrs. Frazier and children of McAlester, were Witburton visitors Sunday The Baptist W. M. U. met on Monday afternoon with Mrs. J. E the front door, and exit through the back door The new 6-room parsonage which the Methodists of this city are eroct ing is progressing nicely It will be strietly modern and if the weather permits. will be ready for occupancy by the first of April Miss Lillian Copeland of Okiahoma City arrived Friday night to spend two months with her mother Mrs. Thomas Miss has recently submitted to second operation in the past few major months and compelled to take two months' rest before completing her nurses training course She only has about four months work before finishing Logan Danel of Red Oak WAS transacting business in Wilburton. Monday DEATH OCCURS AT ALDERSON Several of the children of Mr ALDERSON. Okla. (Special and Mrs. Eminett Stivers are ill Funeral services were held here with chicken pox. Their daughter. Tuesday morning for Mrs. Louis Mac Dorothy is much better after be chi, 37, who died Sunday night. ing seriously ill with "flu. The death of Mrs. Macchi occurred Miss Othalyne Wallace and after several weeks' illness Burial Gladys Bailey spent Saturday in was made in Oak Hill cemetery, at Red Oak visiting Mr and Mrs. Ken- McAlester neth Thompson. Mrs. Maechi came to Pittsburg Mrs. J. F. Wallace attended a county nineteen years ago, an immigrant from Italy and has been meeting of the Latter Day Saints resident of the county since. She at Fanshaw Saturday is survived by her husband, three Toe Blalack returned to Holdendaughters and one son. ville Sunday after spending several days at home suffering from an at Fountain pens were invented neartack of appendicitis. At the time ly two centuries avo his parents brought him home it The word "and" occurs 16.277 was thought that he would have to but it wastimes in the undergo an

3. February 8, 1928 The Springfield Daily Republican Springfield, MA
Article from The Springfield Daily Republican, February 8, 1928

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POISON NOTES BRING RUN ON MIAMI BANKS Miami, Fla., Feb. With cash coming in from the re. in district, Miami's major banking Institutions prepared last night meet possible rush that might develop as result of excite ment following the action of Ernest taking the affairs of three banks here today. Romfh, president of the First not closed but heavy run day expressed the ad ditional would not be needed, though may continue heavy for few days until pubconfidence is completely restored. Gilman, president the bank of Bay Biscayne. Miami's bank nu merous to unfounded rumors that excite ment, satisfied demand and hand and in transit sufficient continue to Clark Davis, president of the City National, the other member of Mia that had withdraw at his institution by $400,000 Third National and Morris Plan deposits for the day and the opinion prev alent that crisis had been passed Comptroller Amos took Bank and Trust company the E. had continued for several days. apparently prompted by circulation letters. Several these were mailed m., January according Mr Lummus, exhibited one "Quietly get your of Southern Band and money Trust company going HIfollowed by Masonic symbol. the source of these letters under way, but yet no dividual have been connected with There more people in tortured skini druggists. the United States now than 25 years but there are 22,000,000 fewer SYLPHO-DINE cattle, sheep and swine to promeat for them.

4. June 12, 1930 The Sioux City Journal Sioux City, IA
Article from The Sioux City Journal, June 12, 1930

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FOUR BANKS IN FLORIDA CLOSE Miami Institution and 3 Branches Fail to Open Doors Miami, Fla.-(P)-The Bank of Bay Biscayne, with deposits of $15,037,198 as of the March 27 statement, and three affiliated financial institutions, failed to open for business Wednesday. A by directors of the bank attributed the closing to "resubstantial withdrawals.' The affiliated banks were the Biscayne Trust company, the Miami Beach Bank and Trust company, and the Bank of Coral Gables. The Bank of Bay Biscayne in its quarterly statement showed deposits of $15,037,198 and total resources of $17,182,292. J. H. Gilman is president of the bank. The Biscayne Trust company had $1,520,040 deposits and $1,962,14 resources. The Miami Beach Bank and Trust company had deposits of 943 and resources of $2,539,281 The Bank of Coral Gables, the third of the affiliated institutions, had deposits of $606,598 and resources of $743,759 Money Sent by Airplane E C. Romfh, president of the First National bank, said that $2,000,000 left Jacksonville by airplane Wednesday from the federal reserve depository there. He said the First National bank and its subsidiaries has money on hand to play all depositors, if necessary Depositors were orderly as they made withdrawals during the morning from other banks of the city and President Gilman said: "At meeting of the directors Wednesday morning, after consultation with the state comptroller, it was decided not to open this bank and its affiliated institutions, the Biscayne Trust company, Miami Beach Bank and Trust company and the Bank of Coral Gables, in order to protect all of our depositors to the fullest extent. "This decision was made after due consideration and was due to recent substantial withdrawals. Arthur W. Saarinen, bank examiner. has charge of the institution. The bank's resources include loans and discounts amounting to $7,478.458 and securities and commercial paper bonds valued at $5,368,497. Runs on Other Banks Withdrawals from other banks here up to the closing time were made in orderly fashion. bank officials said, and available funds were not E. Romfh, president of the First National bank, Laurie Yonce, Jacksonville pilot, had landed here shortly after 2 p. m. with $2, 000,000 in cash which he brought from the federal depository in Jack Hugh R. Gordon, Jr., president of the City National bank, said that approximately $350,000 had been withdrawn from his bank up to p. m (eastern standard time) and that the doors of the institution would be kept open as long as depositors remained. Mr. Romfh said approximately $500.000 had been withdrawn from the First National bank today telegram signed by E R. Black, governor of the federal reserve district in Atlanta. was posted in the window of the Third National bank which said 000.000 is en route to Miami banks. This total was believed locally to include the that came by airplane from Jacksonville Approximately 10,000 depositors in Miami, Miami Beach and Coral Gables were affected by the bank closings. $6,000,000 Sent to Miami Atlanta R. Black, governor of the Atlanta district of the federal reserve bank, said Wednesday that $6,000,000 was being sent to Miami from the Jacksonville branch of the federal reserve. This money, he said, would be available to all Miami banks that are members of the federal reserve. Mr. Black said $2,000.000 of the amount was sent from Jacksonville to Miami by airplane, and that $4,000,000 more was being sent "by mail.' Asked if any additional amount had been sent from the Atlanta depository of the federal reserve to Jacksonville, Mr. Black said the depository here "is continuously sending money to Jackjsonville, just as it does to the branches in Birmingham, Memphis and other southern Homestead Bank Closes of Homestead closed its doors at 10 a. m. eastern standard time, Wednesday after opening for a short time. Assistant Cashier H. Grady Smith said the bank was in good condition and that suspension of business was but temporary, taken for the purpose of avoiding a local bank run on account of bank failures in Miami. He said the bank expects to open in a few days.

5. December 22, 1930 North Platte Daily Telegraph North Platte, NE
Article from North Platte Daily Telegraph, December 22, 1930

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MALICIOUS RUMOR BRINGS RUN ON BANK; IT CLOSES Miami, Fla., Dec. 22. of the closing of City National bank, Miami's second largest financial institution, was made early today by the board of directors. The board said heavy withdrawals, "due to malicious rumors" regarding the bank's condition, were responsible for the decision to close. It was announced the City National bank of Miami Beach, the City Trust company and the Guardian Trust compnay, subsidiaries of the City National bank of Miami, would not be affected by the closing. statement dated September 24 last gave resources of $7,209,234 and deposits totaling $5,862,662.

6. December 23, 1930 The Oregonian Portland, OR
Article from The Oregonian, December 23, 1930

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bank at Rose Bolivar County and the Dale open their failure said from back was due Greenwood banks at of five closing Saturday. RUMORS CAUSE MIAMI RUN Second Largest Bank in City in Trouble Over Withdrawals. Fla., Dec. MIAMI, of the City the closing nouncement of largest bank, Miami's National made early institution, financial the board today by board said The regarding rumors "due were responsible condition, the to for the Nathat the City It announced the bank of Miami tional the Guardian Trust company of the subsidiaries Trust Miami, would National in City the closing. be affected by not 24 dated September statement resources of 662 deposits surplus of totaling $500,000. The bank was cap italized at $500,000. New York Depositors Get Money. NEW YORK, Dec. 22.-(AP)-The depositors to 5500 task paying loans United States Bank of of the closed of its branches began today six by banks being made are Clearing House affiliated with the to lend had offered depositors sociation. which up to 50 per cent of their deposits. Three Employes Arrested. JONESBORO Ark., Dec. Thomas, W. Scott, and Shipman, assistant bookkeeper of the closed First Na. in Blytheville, were tional bank at prison here today while their attorneys sought to arrange bonds on federal charges brought them for an alleged shortage bank. State Department Takes Charge. ATLANTA Ga. Dec. state of banks today took affairs of the City Bank of the smaller Trust one of Atlanta. the last call on banks September 24 the bank sources $284,593 capital of and of Depositors to Get Money. Ind., Dec. 22.First Bank Trust pany at closed voluntarily today. Luther state bank comwould be said depositors paid full The bank was capitalized $50,000 resources of at

7. December 23, 1930 The Daily Worker New York, Chicago, NY
Article from The Daily Worker, December 23, 1930

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Worker Denoritors Organized for Fight (CONTINUED FROM PAGE ONE) Inst year when there was a record number of bank failures. * * MIAMI, Fla., Dec. 22-The City National Bank of this city, the second largest financial institution in Miami, failed today. More than $5,000,000 in deposits is involved. There has been a run on this bank for come time, and in order to cover up the fact that it is the economic crisis which is behind the big increase in bank failures, the board of the City National Bank declared that the closing of the bank was due to "malicious rumors concerning the bank's condition" which really closed it up.

8. December 23, 1930 The Miami News Miami, FL
Article from The Miami News, December 23, 1930

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Football Game Underwritten Hussey Raises $3,000 Among Business Men of Miami Despite Finance Setback Yesterday. as everyone knows. the City National bank failed to open. And. with anther financial setback looming on the holiday horizon. lot of Miamians counted upon as backers of the New Year's football game for the unemployed got cold feet. But George Hussey wasn't one The chairman the reception committee. only last Saturday staged one of the most successful charity benefits offered here. eided that Miami must shirk duty the all George got busy. And keeping mind that human nature George singlehanded downtown business men. started had for between the Florida and the White Plains scholastic He had 10 men just $300 worth that bank failure isn't sufficient for Miami break pledge the unemployed and the White Plains boosters coming hare expenses to help charity The $3,000 in the bank George Romfh. of the First of fund. money has sent to White Plains that despite to perform.

9. December 23, 1930 The Journal Times Racine, WI
Article from The Journal Times, December 23, 1930

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FLORIDA BANK CLOSES PROTECT ITS ASSETS MIAMI. Dec. City Bank of which underwent heavy yesterday following the closing of the City tional bank of Miami, not open this vice said the bank closed at the order state bank aminers protect assets. The bank had deposits of at the last call. PICK JUNIOR EDISON' SCHOOL DELEGATE CAMBRIDGE, Mass., Dec. Wilbur Huston of Seattle, Wash., first winner of the Edison scholarship, has been selected to represent the student of the MassachuInstitute of at the Detroit, Dec.

10. December 23, 1930 Springfield Leader and Press Springfield, MO
Article from Springfield Leader and Press, December 23, 1930

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death would have important political consequences. HOBOKEN, N.J. Dec. ing attended Sunday school 20 years without missing a class, Miss Blanche Little has received a gold pendant, She began going to the First Presbyterian church at the age of 6. CLOSE FLORIDA BANK MIAMI, Fls., Dec. 23-(AP)-The City Bank of Miami Beach, which underwent a heavy run yesterday following the closing of the City National bank in Miami, did not open this morning. The bank had capital stock of $100,000, surplus of $50,000 and deposits of $600,000 at the last call.

11. December 23, 1930 The Berkshire Eagle Pittsfield, MA
Article from The Berkshire Eagle, December 23, 1930

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dently did not see the section gang PARTRIDGE TO until too late for the grinding brakes avoid the accident. BE THE SENATOR CITY BANK OF FROM VERMONT MIAMI BEACH MONTPELIER, Vt., Dec. 23, Frank C. Partridge, Proctor busi- FAILS TO OPEN nessman, was today appointed by Governor John E. Weeks as United MIAMI. Dec. States fill the vacancy City bank of Miami Beach, which by death Senator heavy run yesterday Frank Greene last Wednesday after the closing of the City Nawill serve until tional bank in Miami, did cessor has been at open this cial election called by the governor vice president today, to held March The and cashier said the bank closed governor also directed that spe- the order of state bank examicial primary to protect its assets. March the regular town meet- The bank had capital stock of $100,000. surplus $50,000 and staunch republican. pósits of $600,000 the last call. years old. graduate Amherst college Columbia The New Haven branch of university law From 1888 to lotti, Andrett Company was he served as secretary closed noon by order Comsecretary of and in the latter Shippee. This action was appointed the taken as precautionary measure department of state In 1893 against heavy of appointed special envoy itors after had heard of president of the action the HartVermont Marble company. ford office.

12. December 23, 1930 The Bennington Evening Banner Bennington, VT
Article from The Bennington Evening Banner, December 23, 1930

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Second Miami Bank Fails to Open Today Miami. Fla., Dec. 23 City Bank of Miami Beach, which underwent heavy run yesterday after the closing of the City National Bank in Miami. did not open this morning. C. L. Clements, president and cashier, said the bank closed at the order of state bank examiners to protect its assets. LEGION ACTIVITIES Great Aid to Veterans and Orphans Stressed by Department Department headquarters for the American Legion of Vermont has Issued from Montpeller statements of the Legion't activities during the past year including their programs for boys throughout the country, and the vast amount of money received for ex-soldiers in the form of disabilit ycompensation adjusted insurance and other claims, the total reaching more than five million dollars. They urge these as sufficient reason for any eligible person to carry membership in the Legion. The world's greatest salt-mines are near Cracow and have been worked for 600 years.

13. December 23, 1930 The Richmond News Leader Richmond, VA
Article from The Richmond News Leader, December 23, 1930

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Bank Fails to Open Run City Bank of Miami Beach, which underwent heavy run yesterday following the the City National Bank in Miami, did not open this Clements, president and L. cashier, said the bank closed at the order of bank protect its assets. Conn., Dec. Hartford banks, the Riverside Trust Company, and Pallotti Andretta and were today by Bank Lester E. Shippee, runs on both Institutions progress since last July The National and The City Trust and Savings Bank failed to open today officials issued they "acting for the best interests of de-

14. December 23, 1930 The Stuart News Stuart, FL
Article from The Stuart News, December 23, 1930

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Miami Beach City Bank Shut Today MIAMI, Dec. 23. City Bank of Miami Beach, which underwent a heavy run yesterday following the closing of the City National of Miami, did not open its doors today. C. L. Clements, vice-president and cashier, said the institution would pay depositors 100 cents on the dollar. He said the bank was closed on order of state bank examiners to protect the assets. The City Bank of Miami Beach had a capital of $100,000, $50,000 surplus and deposits of $600,000. The September 30 statement of the lank listed its total resources at more than $1,000,000 and deposits of nearly $900,000 at that time. Meanwhile, Hugh H. Gordon, jr., president of the suspended City National Bank of Miami, was questioned privately today by State's Attorney Vernon Hawthorne, concerning three statements made at various times by C. Penney, New York capitalist, regarding his support of the bank. Gordon said before going into Hawthorne's office he would not comply with a request to produce the originals of telegrams sent by Penney April and June, assuring President Gorden and the depositors that he "stood squarely behind the bank." BESSKMER, Ala., Dec. 23. The City National Bank and BessemTrust Savings Company with total deposits of nearly $1,250,000 failed today.

15. December 23, 1930 The Sentinel Winston-Salem, NC
Article from The Sentinel, December 23, 1930

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VA. BANK CLOSES; ONE IN CONN. AND IN FLA. SUSPEND The State vision of Insurance and day announced that the Peoples Bank of Gretna. Va., had suspended An examiner from the State Division was sent to take charge. The bank was spitalized at $50, 000 and had deposits of $474,000. O. L. Ramsey was president Fla. City Bank Miami run following the closing of the City National Bank in Miami, did not open this morning. L. and cashier, the closed in order to The had capital stock of $100,000. surplus of $50,000 and posits of $600,000 at the last Conn. Hartford Riverside Trust Company, and Pallotti Andretta and Bank Lester E. Ship following runs on both institu tions been in progress since last The manual 1930 gave the capital of the Riverside Trust Incorporated in as 805 and commercial deposits $3.-

16. December 24, 1930 Chicago Tribune Chicago, IL
Article from Chicago Tribune, December 24, 1930

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NEW YORK BANK FORCED TO CLOSE BY WHISPER PLOT Two Arrested Charged with Spreading Scare. New York, Dec. Chelsea Bank and Trust company was closed today by Joseph A. Broderick, state superintendent of banks, after runs on the main office of the bank at 20 East 45th street and its six branches -marked in some instances by riot ing-had threatened the stability of the institution. The runs were attributed by officials of the bank to unfounded and ma licious rumors for which communists among others, were held responsible. Investigation of the rumors were begun by the state's attorney general, District Attorney Crane and the police department. Another investigation was considered likely by the federal authorities. Watson Washburn, assistant attorney general, issued statement warn. ing that all those responsible for such rumors would be prosecuted. Two Men Arrested. Michael Melrose, restaurant man. ager, and Thomas Lodge, music composer, were arrested on a charge of circulating false in connection with the run on the bank. Mr. Broderick would not discuss the bank's affairs pending a closer Investigation, that he was compelled to close its doors following heavy withdrawals. The National City bank had sought to aid the Chelsea bank to the ex tent of several million The Chelsea Bank company was not member of either the federal reserve system or of the Clearing House as sociation and the National City bank was its correspondent. The bank had more than 40,000 depositors and gross deposits as of Nov 14 of The deposits had shrunk in the last few weeks to around $16,000,000, it was said. Lawyer Tells of Plot. David Brady, counsel for the bank declared the false had for their deliberate purposes the stampeding of depositors We have evidence that at least 100 were called up on the telephone and advised to take their money out of the bank," he said. Louis H. Rothchild, vice president of the bank and son of Edward S. Rothchild, the president, when asked shortly before the arrival of Mr. Broderick's order what preparations the bank had made to meet the demands of depositors, which, by that time. had besleged the institution and its branches in crowds, said: Money talks. The money is there Let them come and get We will pay out as long as the demands for money Miami Bank Closes. Miami, Fla., Dec. City partment store. He fled when Waters bank of Miami Beach, which under entered the store. went a heavy run yesterday following GUNMEN THREATEN VICTIM. the closing of the City National bank Three gunmen threatened in Miami, did not open this morning. Charles 4710 Belden The bank had capital stock of took $50 from him in front of 1145 North $100,000. surplus of $50,000. and de- avenue posits of $600,000 at the last call. One Bank Beats Run. Philadelphia, Pa., Dec. 23.-(P)-A run that started on the Franklin Trust company yesterday after the announcement that the Bankers Trust company had voluntarily closed its doors to conserve its assets, began to subside today, bank officials an-

17. December 30, 1930 The Miami Herald Miami, FL
Article from The Miami Herald, December 30, 1930

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DEPOSITORS TO KNOW STATEMENTS TOMORROW Depositors of the City National Bank in will their showing of their accounts tomorrow, Spurway, national bank receiver, who in charge, yesterday. box who do not bank their boxes today, Mr. Those so the but are not required he "Our main idea do our work with little possible to the bank's customers," Mr. Spurway said.

18. January 20, 1931 The Tampa Tribune Tampa, FL
Article from The Tampa Tribune, January 20, 1931

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Miami Bank Receiver Gets Authority To Sell Bonds MIAMI. Jan. J. Spurway, receiver for the closed City National bank in Miami, was authorized today to sell and agree to the sale of all bonds. stocks and other curities owned or dged by the bank. in general order signed by Federal Judge William B. Sheppard. The receiver's petition said the bonds. stocks and other securities had total par value of $3,476,360 and total value of "neither of which values is consistent with the real present market value."

19. February 12, 1931 The Miami News Miami, FL
Article from The Miami News, February 12, 1931

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Patrons of Closed Institution to Get Up to 25 Per Cent MILLION AVAILABLE Romfh Approves Plan for Speedy Discounting of Certificates cent on deposits suspended City National bank Miami will loaned First National E. C. today. will commence WednesFeb. with every member bank First National group participating, but all loans will be made in 916, First National building. Decision by Mr. Romfh to against receiver's certificates on the City National expected make available immediately more than an $1,000,000 in cash. Relief for depositors comes through the First National nearly four months than through the tedious routine of the City National's receiverAdvertisement for filing of claims begun by the receiver only cently and the law requires that this continued for three months. fourth month, would be quired to set up the books preparato the by the receiver. Then, there no assurance the first receiver's dividend will be large the 25 cent now offered by First National. Today was learned Mr. Romfh offered ago vance loans against receiver's certificates but negotiations were pleted until today deal handled by D. Stiles of the First National. with H. Spurway, City National receiver. Mr. Romfh, himself. approving final details. Here' City avail of the First NaFirst file by presentbook the will be issued in exchange. Then indorse the certificate its back favor of the First National bank. The receiver record and properly sign Then present the assigned and H. B. Oliver room 916, First National bank buildIt will be accepted collateral for 25 per cent loan. Any portion your deposit up to cent be First National will hold this certificate collateral until National receiver has paid off the face your loan. Then collateral certificate depositors the the First Bank Trust opening on the elevators of the bank Member banks the First National group in the loan National First National Miami. Miami Beach First National. Coral Gables First National. Little River Bank Trust Co. and First bank.

20. February 24, 1931 The Miami Herald Miami, FL
Article from The Miami Herald, February 24, 1931

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100 Cent Levy Ordered Against Holders To Benefit Depositors hundred per cent against stock the closed City National Bank in Miami made against stockholders yesterday Spurway, national bank receiver. The totals which, when and be applied dividends payment depositors. The stockholders notified that the must be paid by March 26, suits will be started to obtain judgments against any of their propThe largest against the Corporation for $200,000. Penney, president that for proximately $3,500.

21. March 28, 1931 The Miami Herald Miami, FL
Article from The Miami Herald, March 28, 1931

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BANK RECEIVER SUED TO OBTAIN SECURITIES The club by resolution opposed action Suit to require H. Spurway, of the budget in proceiver City National Bank Miami posing to abolish the state welfare to board. by Mrs. Ida Rubin but held in the deposit box of Rubin Sons, Inc. Miami avenue, was filed RIDING ACADEMY DEED in United States District court yesterday FORECLOSURE IS ASKED Mrs. Rubin and husband, Morris president the firm, are plain- Suit to foreclose series tax tiffs. They say that firm's in- deeds the Gables Riding has re- 303 Giralda duced from since Coral filed by M. Mr. Spurway the Dalton in Circuit Catafirm claims its frozen de- and others Thursday. posits against the indebted- through William Pruitt, attorney. Mr. Spurway served notice The seeks to have Circuit court that he will sell the securities April assume jurisdiction, determine the the balance of the note held the bank is not paid before that date.

22. June 23, 1931 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, June 23, 1931

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closing Howard forman: laborer, Virbert Fayne respectively. had assets. Ironton Clerk Enters Bankruptcy Voluntary bankinstituted United States District Court burger, South Fifth schedules indebtedness totaling beyond exemptions. Portsmouth Resident Bankrupt. Claude McCoy Ohio, his United States District Court for relief debts totaling He lists assets. Scheduling liabilities of of which are listed secured indebtedness denced largely by real estate mortgages which been foreclosed Sam 319 Forest formerly estate under the name Broock Kling Realty Company in bankruptcy in United States DisCourt. His total $711 his goods, valued exempt. Larger Brunson Bank Trust the Big Four Building and Savings Eighth $32,000; Meyer Berman, North Crescent Nellie 4626 Smith $8,500; and Fourth Elm 951 man. Morris Plan Bank, East Sixth Clarence Bank $5,642: BuildEagle and Main Isidore ton Springs Bank Company Bank Trust Cincinnati, Pearl pany), Bank Trust Company Central Trust cinnati, Simon Schwartz, Ohio. Budd. Traction Among the larger mortgage crediare the Savings Pearl Market Bank and Trust the Building Court and Streets, $211,500; Liberal East Bank and Trust Company Union Company) Company Cincinnati, $28,000; Prudential Company Bank Trust Company and Provident Savings Bank Trust and Provident Savings Bank and Trust Company, $33,000. Bank Receiver Sues Woman Sparway, Receiver for City National of Miami, filed suit United States District Court against Sophie 3427 Place, recovery $22,000 interest cent together interest per cent on certain deferred interest payments, be due promissory executed the Septemconnection real estate Reuss Honors Carl Reuss, Deputy Clerk of United Court of yesterday was advised honors his Night general The prize of $75 Mr. Reuss was the lations of friends in the Federal Bankruptcy Notes. truckman 818 Dayton filed in United District Court. His of liabilities and assets are to be filed Ralph Curl. Cincinnati, filed liabilities totaling and assets at all said be

23. September 24, 1931 The Miami Herald Miami, FL
Article from The Miami Herald, September 24, 1931

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NEWS SUMMARY Forecast Florida: Local thundershowers today and probably morrow; gentle moderate easterly winds. Miami temperatures yesterTides today: High Low 1:48 Complete weather NATIONAL Harvey Seeds post of Miami tained drum corps championship. Legionnaires to on prohibition Giant dirigible Akron went on maiden vayage. Labor federation president nounced wage cuts. Page Stimson appealed to China and Japan not fight. Ohio man named president change clubs. Postage rates to Bahama Islands increased. Stimson naval holiday plan with reservation. Raleigh, schools closed of heat Seven bandits robbed Chicago band. Strength of Federal reserve cited. FOREIGN Disciple Gandhi unmentioned in mother's will. Tokio said troop withdrawal Manchuria had begun. STATE Florida fruit and broke record during last year. Page Key West mob contractor's trucks in labor dispute. LOCAL Number merchants decided to continue Dollar Day New York to Havana speed flier refuel Miami today. Page Conference was called to discuss constables' fee claims. Page School board asked state to bonding companies to pay posit guarantees. Page Amended declarations charged bank violations in City National Bank In Miami failure. Suit for filed by bank receiver. Page Suit to foreclose on apartment house alleged overdue. Forester in Dade county appraised Page Quacking duck warned neighbors during robbery. Page 12 Poll tax receipts issued yesterday taled Page School board refused to rescind ruling school districts. Page Matilda died. MISCELLANY Amusements. Crossword Comics.

24. September 25, 1931 The Miami Herald Miami, FL
Article from The Miami Herald, September 25, 1931

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BANK RECEIVER SUES FOR $125,000 ON NOTES Suit for $125,000 was started against the Empire Realty Securities Corporation, Huntington building. by H. J. Spurway, receiver of the closed City National Bank In Miami, yesterday, in United States District court. It was second similar action. the first for $20,000 damages being filed Wednesday.

25. October 6, 1931 The Atlanta Journal Atlanta, GA
Article from The Atlanta Journal, October 6, 1931

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Wool Market Firm Despite Slow Trade Wire Journal making inquiries in the market, but because the inactivity in the cloth markets they are not taking any wool than for current business. Resistance further recessions in prices on domestic wools appears fairly firm despite slow buying. Large wool houses are not pushing sales some have refused low bids on offerings. of domestic wools here for the ended October amounted 487 900 pounds with 375,90 in the previous week. Fine territory combing clean French was quoted 60-62, Tuesday combing 54-57 half blood 36-57 and quar ter blood Ohio fleeces basis at 25-26 grease were quoted blood half blood 24-25, 23-24 and quarter blood 21-22 Miami Bank Dividend Oct. Spurway, receiver for the City tional Bank in Miami, announces divident Tuesday that a 20 per cent Thursday will be paid to The bank, which failed to listed open doors December 1930, posits of approximately $4,500,000 = its last statement. STOCK MARKET OPINIONS wave of the spent THEODORE PRINCE with standard has are this What more stocks in right nose. incentive under offerings while current now plentiful, there may and it may be necessary to reach for stocks