1.
July 8, 1929
The Anniston Star
Anniston, AL
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COOSA REFUSES TO YIELD BODY
Scores Of Divers Searching River For Birmingham Banker
ATTORNEY GENERAL WILL PUSH INQUIRY
Jefferson Grand Jury To Investigate Financial Disorders
LEEDS, Ala., July 8. Leeds State Bank. failed to open its doors today. Officials ed that the affairs of the institution had been placed in the hands Department, following a heavy run Saturday. The Leeds Bank was the fifth to close in the Birmingham diswithin past two weeks. the E. Linden, president of the which was capitalized at $25,000 and had surplus of similar
-Waters of the Coosa River had failed last night to give up the of Dr. A. Bell. Birmingbody ham banker, despite the fact that of divers the river day. Dr. Bell was said to have drowned Saturday in the Coosa shortly after the Woodlawn Savings Bank, of which he was president, was closed. Dr. Bell went swimming while on an of his farm near Vincent. Ala., and two of his tennants reported his drowning shortly afterward. Hundreds of people watched the search for the body yesterday. Dr. Bell was member of the Jefferson County board of revenue. The drowning of Dr. Bell, is the second death within two weeks of Birmingham bankers whose institutions have closed. A verdict of accidental returned in the case of John R. Wallace, cashier of the Avondale bank. who died from bullet wound. Lassiter, president of the City Bank and Trust Company and the Avondale and Trust Company, continues ill in New York hospital. Attorney General Charles C. McCall has indicated that he will an investigtion of the closing of four Birmingham banks through Jefferson County grand jury. Judge C E. Thomas, state of banks, is in charge of the present investigation and audits now being conducted here. Attempts are now being made to the City Bank and Trust Company with stock of $250,000, of which it is more half has already been subscribed. Several directors of the closed institution have formed organization committee.
Banks Stable, Says Thomas MONTGOMERY, Ala., July 8. banks Birmingham are well provided with collateral and there is no need for further apprehension or Judge C. Thomas, State of Banks stated today on his return from Birmingham, where he spent the week-end conferring with officials of four banks which have clostheir doors there within the last week. Although he did not make definite statement, Judge Thomas indicated that an avalanche of funds had poured into Birmingham since the started on the Woodlawn run Southside banks. He expressed himself highly satisfied with the work of the ers he to audits of the books of the closed "There money available more than there has in in Judge Thomas deto care for any The banks little flurries caused by excited well and do not on the closing of the Leeds Bank this Judge failure to realize quickly on many large frozen loans in the of the directo place the ank in the hands of the Judge chief agent of department, left charge of the bank.
2.
July 8, 1929
The Times
Trenton, NJ
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ANOTHER ALABAMA BANK CLOSES DOORS
(Associated Press) LEEDS. Ala., July 8-The Leeds State Bank failed to open its doors today. Officials announced that the affairs of the institution had been placed in the hands of the State Banking Department following heavy run on its deposits Saturday The Leeds bank was the fifth to close in the Birmingham district within the past two weeks. B. C. Lindon is president of the institution, which was capitalized at $25,000 and had a surplus of similar amount.
3.
July 8, 1929
The Oshkosh Northwestern
Oshkosh, WI
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CLOSURE OF BANKS CAUSES HYSTERIA IN STATE OF ALABAMA
Citizens Called Upon by the Leaders to be Calm and Stop Worrying-President Drowns
Leds. Ala.-(P)-The Leeds State bank failed to open its doors today. officials announced the affairs of the institution had been placed in the hands of the state banking department following a heavy run Saturday. The Leeds bank was the fifth to close in the Birmingham district within the past two weeks. B. C. Lindon is president of the institution, which was capitalized at $25,090.
Birmingham, Ala.- (AP) While search continued for the body of Dr. A. W. Bell, president, of the closed Woodlawn savings bank. who was reported to have drowned, Saturday morning, state bank officials and city leaders moved today to guard against further closure of suburban banks and to restore shaken confidence. Citizens were called upon by banking leaders, the president of the city commission and in newspaper editorials to "quit worrying about the banks and to stop a wave of hysteria that has threatened the city since the closing of four suburban banks.' Residents of near Vincent, Ala., where Dr. Bell was reported to have drowned, dragged the Coosa river through last night but found no trace of the body. The report of
4.
July 8, 1929
Orlando Evening Star
Orlando, FL
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PROBE BANKS CLOSING
Birmingham Failures Situation Undergoing Three Way Investigation Today.
Ala., July banking situation in the mingham district under three-way investigation by state county officials today as the fifth bank within the past two weeks failed to open its doors. The Leeds State Bank did not open for business today and its fairs were placed in the hands the state banking department heavy run Saturday. The bank at had surplus of $25,000.
5.
July 8, 1929
The Miami News
Miami, FL
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ANOTHER BANK IS SUSPENDED
LEEDS. Ala., July Leeds State failed to open doors today. Officials the institution placed hands of the state banking department following run its deposits Saturday The the fifth the Birmingham within the Lindon the which $25,000 had surplus of similar amount
6.
July 8, 1929
The Times-Tribune
Scranton, PA
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ALABAMA BANK FAILS TO OPEN DOORS
July 8 Leeds State bank failed to open its doors announced that the affairs of the institution been in the state department following run on deposits Saturday Leeds was the close district within the past two weeks
7.
July 8, 1929
The Berkshire Eagle
Pittsfield, MA
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FIFTH BANK TO CLOSE DOORS IN LAST TWO WEEKS
LEEDS, Leeds state bank failed to open its doors today. Officials announced that the affairs of the institution had the state banking department after heavy deposits Saturday The Leeds bank was fifth the Birmingham district Lindon the institution which at and had surplus similar amount.
Ala., July Affairs two banks which closed Saturday, bringing four banking which in the disthe past 10 under of the state banking parties are the the institutions which who drowned morning in the Coosa Dr. Bell was reported to have swimming with friends shortly after be arrived place for the The report the closing the bank caused the bank. which prompted ficials order doors closed. Officials the Southside closing temporary and the would be open for business day As the report spread throughout the runs were started banks. The most instances when officials anthat all to their funds would promptly The banks closed last week were the City Bank company the Avondale Bank Savings pany. Lassiter, president both New York hospital where after receiving news of the closing the banks. John Wallace, cashier of the Avondale Bank Savings died the day before the bank closed bullet through his abdomen, members his family to have been inflicted when the floor and Coroner Russum rendered verdict of accidental death. Plans for reorganization and opening the City Bank completed and Roderick member the board and attorney the that than $125,000 of the $250,000 stock proposed for the reorganized bank been Southside and Woodlawn banks were at The band had capital $500,000 the Avondale bank $25,000.
8.
July 8, 1929
Lancaster New Era
Lancaster, PA
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FIFTH ALABAMA BANK CLOSES
Department in Charge of Leeds Institution's Affairs
July Leeds State Bank failed open its doors today. Officials that the affairs of the placed in the hands of State Banking its deposits Saturday The bank the fifth closed the district within the Lindon the which capitalized $25,000 and had surplus of similar amount.
9.
July 8, 1929
Deseret News
Salt Lake City, UT
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Another Bank Fails To Open in Alabama
July The Leeds State bank failed open its doors today. Officials nounced that the the stitution placed the hands the state banking ment. following heavy run $25.-
10.
July 8, 1929
The Kansas City Star
Kansas City, MO
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FIFTH ALABAMA BANK FAILS. Heavy Run Precedes Closing of a Birmingham Institution.
(By the Associated Press.) LEEDS ALA., July 8.-The Leeds State Bank failed open its doors today. Officials announced the affairs of the institution had been placed in the hands of the state banking department. following heavy run Saturday. The Leeds bank was the fifth to close in the Birmingham district within the last two weeks. B. C. Lindon is president of the institution which was capitalized at $25,000 and had a surplus of a similar amount.
11.
July 8, 1929
The Journal
Meriden, CT
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BANKS CLOSED WITHIN WEEKS
Ala., July (AP) The Leeds state bank failed open today. Officials that the affairs the institution had been placed the hands of the state banking department after heavy run deposits Leeds bank was the to in district in the last two Lindon president the institution which was capitalized $25,000 and had surplus of similar amount.
TREASURY BALANCE
Washington, Treasury for July $14,993,051.71. Balance $284,553174.
12.
July 8, 1929
The Chico Enterprise
Chico, CA
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ALABAMA BANK FAILSS TO OPEN
Leeds State Bank failed to open Its door today Officials announced that the affairs of the institution had been placed in the hands of the state banking department, following heavy run on Saturday. The Leeds bank was the fifth to close in the Birmingham district within the past two weeks. B. Limion is president of the institution which was capitalized at $25,000 and had a surplus of similar amount.
13.
July 8, 1929
North Platte Daily Telegraph
North Platte, NE
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from north south.
BIRMINGHAM FAILS Leeds, Ala., July The Leeds State bank failed its doors today. Officials open announced the affairs of the stitution had been placed in the hands of the state banking department following heavy run Saturday. The Leeds bank ham district within the past weeks. Lindon president of the institution which was capitalized at $25,000 and had surplus of similar amount.
14.
July 8, 1929
The Durham Sun
Durham, NC
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FIFTH ALABAMA BANK CLOSES IN TWO WEEKS
Capital and Surplus of State Insti-
LEEDS Ala., July The Leeds State bank failed its doors Officials anopen nounced that the affairs of the stitution had been placed in the hands of the state follows heavy run on deposits The Leeds bank fifth close in ham district within the past two weeks. B. Lindon is president of the institution which was at and had surplus similar amount
15.
July 8, 1929
Omaha World-Herald
Omaha, NE
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LEEDS, ALA., BANK SHUT Fifth Closed in Two Weeks In Bir mingham District,
Leeds, Ala., July 8 (P).-The Leeds State bank failed to open its doors today. Officials announced the affairs of the institution had been placed in the hands of the state banking department. follow ing a heavy run Saturday The Leeds bank was the fifth to close in the Birmingham district within the past two weeks B. C. Lindo: is president of the institution which was capitalized at 25 thou sand dollars and had a surplus 0 a similar amount.
16.
July 8, 1929
The Daily World
Helena, AR
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ALABAMA BANK FAWS DOWN AND
July The Leeds State Bank failed to its doors today. Officials announced that the affairs of the institution State Banking Department following heavy run on its deposits Saturday The Leeds bank was the fifth in the Birmingham district within the past two weeks. B. Lindon president of the institution which capitalized at $2500.0 and had surplus of similar amount.
17.
July 8, 1929
The Times Record
Brunswick, ME
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STATE BANK FAILS
Leeds, Ala., July Leeds State Bank failed to open its doors day. Officials that the fairs of the had been placed the hands of the deafter heavy run on its posits Saturday. The Leeds was the fifth to close in the district in the last weeks. B. Lindon president the institution which was capitalized $25,000 and had surplus of similar amount.
18.
July 9, 1929
The Webb City Sentinel
Webb City, MO
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Birmingham Bank Institution Fails
Leeds Ala. July The Leeds State Bank failed to open its door yesterday Officials announced the affairs of the instiution had been placed in the hands of the state banking department. following heavy run Saturday. The Leeds bank was the fifth to close in the Birmingham district within the last two weeks. B. C. Lindon is president of the institution. which was capitalized at $25,000 and had a surplus of a similar amount.
19.
July 9, 1929
The Philadelphia Inquirer
Philadelphia, PA
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FIFTH BANK CLOSES WEATHER NEAR NOW FAVORS CROPS
Alabama Banking Department Takes Charge of Institution at Leeds
Closings Have Been Acby Tragedies; One Official Collapses
Ala., July banking situation the under county the fifth bank the past two weeks failed open its The Leeds State Bank did not open for today and its hands the State Saturday The bank was capitalized at and had surplus $25,000. Judge Thomas, State of arrived terday the the Department. stated that runs which caused two banks close Saturday by the two banks two ago. General Charlie Call was personal inves tigation into the ago the Bank the Company and the City Bank and
President Collapses
J. New York when advised closings and still the plying the of the the body the Woodlawn Saturday Bell to few after the with He the The South Side who have an audit Bank said the instiwas and ordered Indications that the bank would main closed for were when reporting work opening time today left the building shortly John cashier the Avondale Bank. died the day before the bank bullet wound through the which have been accidentally inflicted. accidental death returned by Coroner Russum.
More Progress Being Made Than Heretofore During This Season
Too Much Moisture Early for Cotton and Too Dry for Grain
Due to favorable weather conthe American Steel and Wire progress heretofore this The spotted condition the major however. has not disappeared. All these crops still be weeks present extreme southeastern the country still too much while the Central and extreme North complain of dryness. the case of and resulting grain particularly wheat and out short. these tions will be relieved may crops. wet weather South however, has progress Texas, parts and With the all States boll this pest being wet Texas its first cotton to market of last The part the average and chief reporting this as coming along Wheat Harvesting Southern the States making being lighter was considerably reports indithat this and oats are turning out better than was
20.
July 9, 1929
The Los Angeles Times
Los Angeles, CA
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Fifth Alabama Bank Closed
LEEDS (Ala.) July (P)-The Leeds State Bank failed to open its doors today. Officials announce that the affairs the institution have been placed in the hands of the State Banking Department, following heavy run on Saturday. The Leeds bank is the fifth close in the district within the past two weeks. Lindon of the institution, which was capitalized at $25. 000 and had a surplus of a similar amount.
21.
July 9, 1929
The Buffalo News
Buffalo, NY
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New York Curb Market
When only one quotation is given for a security it indicates that all sales of such issue were made at the same figure. Figures in first column represent sales in hundreds of shares, with fractions of hundred-share lots. Bond sales In $1000 units.
ALABAMA BANK CLOSES LEEDS Ala. The Leeds State open its doors today. Officials that the affairs the institution had been placed in the hands the state bankdepartment following heavy run its deposits Saturday The insti$25,000 and surplus of similar amount.
Sales High Low Close Sales High Low Close Intl Mer Marine Cons Cop Mines 11% 28 Cresson Con Gold Saf Raz B Dolores Esper 13-16 Shoe 73% 73% Falcon Lead Min 5-16 Intern Util 20 Coin 11-16 Interstate Hosiery Golden Center M Chute Goldfid Cons 9-16 Ital Superpow 19% 19% Hecla Min Hud Bay Min Sm 16% 16% Johnson Mot 43% Cap Copper Special to the BUFFALO EVENING NEWS. Metal NEW Kermath July Mining 214% Kobacher Stores traded New York Curb market Monday with the prices to and including Nipissing the close Lackawan 39% Noranda Lake Found Ohio Copper Cop Sh 189% Shattuck Denn Sales High Low Close Libby Gold 2½ Lily Tulip Cup 23% 16% Hughes Indust Loews war Island 83 83% Verde Ext pfd Ansco Unity Gold Agfa Ansco pfd Metals Ludwig Baum pfd 93 Power Wendon Cop Alexander Indust MacMarr Stores Independent Oil Stocks. Marconi Intl Lond Con Oilflds Bottling pfd Mayflower Assn Synd Alpha Port Columbia Amer Chap Mesabi Iron Cosden For Pow war 95 MidlandRoyal 29 29% Oil Cent Am Corp Mid West Util Pete Chain Amer P&L A Oil Hon Reg Houston Am Colortype Missouri Kans Intercont Pet Leonard Montgomery 16% Star Lone new Amer Gas 205 205 Mohawk Hud Moore Drop Amer Laund Mach Magdal Trac Mount Prod Amer Meter Murray 18% Nor Oil Cent Amer Pneumatic Serv Paragon Ref vte Nat Gas Pandem Superp Nathan Pantepec Amer Chem Nat Aviation Oil S&C Am pfd Armstrong Cork Fam Fam Ainsworth Mfg Investors Venezuelan Am Window Glass Standard Oil Issues and Post Fence Anglo Chil Nitra Former Subsidiaries Arizona Stocks. Natl Gas Theater Anglo Am Oil 14% Gas G&E Asso Gas&El UR Nestle LeMar Buckeye AssoG&El Humble 25 Asso Elec Hamburg Gas n Laund Transit Asso Rayon pfd Hud Oil Vot Penn Aviation Pnd Aviation Kansas Aviation Neb Axton Fisher Util 700 Bellanca Airc Blauners 49% Bonds. Nor Sta Bliss P&P Stocks Borin 101 101% Allied Pk COD Braz Outboard Motors Alum Amer Bridgpt Gas Motors 14% 14% Packard 27% Gas Corp Brist Myers Seating Parmelee Niag Anaconda 6 Bulova Mach Clark Elec Cable Rad Campbell 26% Marconi 93 Carnation Milk Caterpil Am Bowes States Prudential States Lum Rainbow COD Metal pfd 106 Cent Rub Indianap L&P5A Corp RelianceBr& B&Sh Prod Share Hold Starrett Pow Eng Wall TransLuxD Fajardo Fedders Lamp Federal Water Financial Invest Fireman Ins Firestone Airp Can Mot Foremost Foreign Bonds. Shar Frank Retail Frank Shoe Chas Co 9% Gamewell Co Pkg Res Inv Prus 14% Elec Cons Mun Alden Coal Stores Globe Underwriters Stores Goldman Sachs Ital Gorham Inc Mendoza Gotham Knitbac Gramoph CoLtd Gramph Co Bank Chile Bro Van GrAandPTC non Finan Corp Rumania 83% 83% Ground Grip Shoe Walgreen pfd Guardian Fire Wayne Hugo Handley Page pr pfd Hall Lamp Western Pow Hall Printing Haygard Corp 62% Low Caf Hazeltine Corp Winter Helena Rubenstein Powd Worth Hiram G&Wn Hygrade Food Prod Imperial Tob Zonite Mining Stocks Intl Mer Marine Insur Insur Shares 21
22.
July 9, 1929
Tulsa World
Tulsa, OK
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START QUIZ OF ALABAMA BANKS
Closing of Five Institutions in Birmingham to Be Investigated banking situation in the Birhamingham district was under three-day by state and county officials as fifth bank failed to open its doors The Leeds State bank did not open for business today and its fairs placed in the hands of the state banking department following heavy run Saturday The bank capitalized at $25.000 and had surplus of intendent of banks, who arrived yesterday to supervise the investigation of the banking department stated that uns which caused two banks to Saturday were precipated by the closing of other banks two weeks Atty Charles McCall conducting personal Investigation into the simultaneous clos- ing two weeks ago of the Avondale Bank and Savings company and the City Bank and Trust company J. B. Lassiter, president of both concerns collapsed in New York when advised of the closings and still is in the care of physicians. Motor boats were pleying the waters of the Coosa river at Vincent. Ala searching for the body of Dr. W. Bell, president of the Woodlawn Savings Bank which closed Saturday, Doctor Bell was reported to have drowned a few hours after the bank closed. while wimming with party of friends. John B. Wallace, cashier of the Avondale bank, died the day before the bank closed of bullet wound through the abdomen which was said to have been accidentally has hawk plague.
23.
July 11, 1929
Two Rivers Reporter
Two Rivers, WI
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Bank Fails to Open Its Doors LEEDS. Ala. Leeds State bank failed to open its doors Tuesday Officials announced the affairs of the institution had been placed the hands the state department following heavy run Saturday. The Leeds bank was the fifth to close in the Birmingham district within the past two weeks.
24.
July 18, 1929
The Sand Mountain Banner
Albertville, AL
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ONE OF CLOSED BANKS REOPEN IN BIRMINGHAM
Southside Bank Resumes Business Without Incident Monday
Birmingham, Ala., July Southside Bank, which closed its doors during heavy run on its by depositors, opened for business Monday. State bank who completed an audit of the bank's accounts last week, declared "solvent iting the confidence of the public." The reopening was without cident. Manor, president of the institution, said the hours of business were normal as the closing had merely been over the week end. Lassiter, president of the Avondale Bank Savings Company and the City Bank Trust Company, two the five financial institutions to close here early this month, issued his statement on the closings today which he asserted the belief depositors will paid in Lassiter turned from New York Thursday he made an effort to raise money for his banks and prevent their closing. He collapsed when informed the banks and since has been under the care of physicians. not try to run Lassiter said of his trip. went New York in an effort to raise to save the banks, but the money crash came too soon. My first purto the banks and to pose reopen this end will bend my every energy." Meanwhile plans were going forward to the Woodlawn reopen Savings Bank and Leeds State Bank, the other of five banks to close, with national charters.