Multiple contemporaneous newspapers (AP dispatches) report the Bank of Little River opened July 2, 1926, suffered a run within an hour, and directors suspended operations. Papers state directors planned reorganization and intended to reopen 'shortly,' but no clear confirmation of reopening appears in these items, so outcome is uncertain. OCR errors corrected (e.g., 'Cocoanut'/'Coconut', 'Buena Vista'). Cause attribution: run precipitated by uneasiness after nearby Buena Vista/Coconut Grove troubles and outside loans/outstanding loans the banks could not deliver on.
Events (2)
1.July 2, 1926Run
Cause
Local Banks
Cause Details
Uneasiness caused by failure/suspension of nearby Bank of Buena Vista (and Coconut Grove) and heavy withdrawals tied to outside loans; crowd poured in to withdraw deposits.
Measures
Two squads of police dispatched; armored money truck sent from a downtown bank; directors suspended operations.
Newspaper Excerpt
the Bank of Little River opened for business at 9 o'clock but was forced to close exactly an hour later due to a run.
Source
newspapers
2.July 2, 1926Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors cited outstanding/outside loans they could not deliver on and decided to suspend operations to readjust affairs and reorganize.
Newspaper Excerpt
Outstanding loans on which they could not deliver were given by directors as reasons for suspension of activities.
Source
newspapers
Newspaper Articles (20)
1.July 2, 1926The Key West CitizenKey West, FL
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THREE MIAMI BANKS SUSPEND OPERATIONS DANIA INSTITUTION ALSO CLOSES DOORS TODAY FOLLOWING HEAVY WITHDRAWAL BY DEPOSITORS (By Associated Press) MIAMI, July 2.-Three Miami financial institutions, the Bank of Coconut Grove, the Bank of Buena Vista and the Bank of Little River, suspended operations here today. Outstanding loans on which they could not deliver were given by directors as reasons for suspension of activities. Both the Bank of Coconut Grove and the Bank of Buena Vista failed to open their doors, while the Bank of Little River opened for business at 9 o'clock but was forced to close exactly an hour later due to a "run." Uneasiness was felt by residents of that community regarding the failure of the Buena Vista bank nearby and at the opening hour an increasing crowd poured into the bank to withdraw deposits. Two squads of police were despatched to maintain order and an armored money truck from a large downtown bank was sent with a large amount, but directors chose to suspend operations. Officials of the Buena Vista and Coconut Grove institutions, both of limited capital and .resources, decided to suspend operations temporarily in order to readjust affairs and reorganize the banks on more extended and stable foundations, augmented possibly by Miami capital. The local officers of the Coconut Grove and the Buena Vista banks were said to have been compelled in carrying out their plans because of out-of-town control and the consequent lack of interest in both institutions by Miami capitalists and investors. Organization of the Bank of Coconut Grove was completed in March 1920 with a capital of $15,000. In February 1925 the capital was doubled and deposits totalled $1,010,000. The Bank of Buena Vista opened in October 1920 with a capital of $15,000. In July it had $1,500,31101 and 000 in deposits.
2.July 2, 1926The Shreveport JournalShreveport, LA
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BANKS AT FAIL 'RUN' CLOSES
One Closes Within Hour of Opening, After Heavy Withdrawals by Depositors
Continued from Page One suspended operations here today Outstanding loans on which they could not deliver were given by directors as reasons for suspension of activities. "Run" Closes Bank.
Both the Bank of Cocoanut Grove and the Bank of Buena Vista failed open their doors. while the Bank of Little River opened for business at the regular hour, but was forced to close exactly an hour later, due to somewhat spectacular "run." Uneasiness was felt by residents of that regarding the failure of the Buena Vista bank, near by, and at the opening hour an increasing crowd poured in to withdraw deposits. Two squads of police were dispatched to maintain order and an armored money truck from a large downtown bank was sent with large amount. but directors chose to suspend operations. Officials of the Buena Vista and Cocoanut Grove institutions, both of limted capital and resources, decided to suspend operations temporarily in order to readjust affairs and reorganize the on more extended and stable foundations, augmented possibly by Miami The local officers of the Cocoanut Grove and the Buena Vista banks were said to have been handicapped in carrying out their plans because of town control, and the consequent lack of interest in both institutions by Miami capitalists and investors. Organization of the Bank of Cocoanut Grove was completed in March. 1920, and the bank was opened with $15,000 capitalization In February, 1925, the capital stock was doubled, deposits totaling $1,010.000. J. R. Anthony, formerly of Jacksonville, headed the board of directors and acted in an advisory capacity with A. W. Sanders, of Cocoanut Grove. president. The Bank of Buena Vista opened on Oct. 19, 1921, with a capital stock of $15,000. enjoying a slow but steady growth. In July, 1925, when deposits totaled $1,500,000, the bank started work on threestory, $100,000 building. The officers included J. R. Anthony, as president, and John L. Grice, active vice president.
DOORS
Closed By Four Banks
In Suburbs of Miami, Fla., in Face of Runs.
Fifth Institution Weathers Heavy Withdrawals of Funds-Outside Loans Are Blamed.
Miami, Fla, July local banks suspended operations. financial institution at Dania closed its doors and Hollywood bank weathered heavy withdrawal of funds today. The Bank of Cocoanut Glove and the Bank of Buena Vista failed open for business and the Bank of Little River closed after run of hour. The Bank Dania, short distance from Miami, suffered simiwithdrawal of funds and ceased operations shortly before noon. same time Bank of Hollywood. also short distance this city Broward withstood brief The Bank of Buena Vista and the Bank of Cocoanut Glove. allied institutions. made the following separate announcements:
Working Plan. bank has decided suspend operations for the will, therefore. not open for business day. actuated in this cause desire its protect its depositors the fullest extent. Local citizens now plan and will announce details few days organinstitution speedy liquidation and to relieve the The bank of Buena Vista opened
October 19. 1920, with capital stock of $15,000, which had been raised $50,000. The officers clude Anthony. of President, and John Grife, Vice President. Officials nounce present deposits for either The bank Cocoanut Grove opened in March, 1920. with $15,000 capital. On March the bank italization and deposits taling Anthony head the Board Directors with Sanders President. The of Little River through President Teed announced the circumstances we felt advisable and desirable operations the present. The bank sound and good shape. have excess of $200,000 in cash vaults and reserve greater per not think the deposlose He intimated his intention of early President Parker, of the Dania. immediately after closing that readjustment would be made that would enable the bank reopen shortly meet all obligations. bank of precipitated after receipt news the bank closings, but was through the receipts of funds from Miami banks. The run subsided shortly noon. of the President George Miami Clearing House Association commenting the suspension of three suburban banks, declared that outside and loans outside responsible for the paper solely
4.July 3, 1926The State JournalFrankfort, KY
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THREE BANKS CLOSE DOORS
Action Taken to Protect Stockholders and Depositors
MIAMI, Fla., July 2 (By A. Three local banks suspended operations, a financial institution at Dania closed its doors and a Hollywood bank weathered a heavy withdrawal of funds today. The Bank of Coconut Grove and the Bank of Beuna Vista failed to open for business and the Bank of Little River, after a run of an hour's duration, closed its doors. The Bank of Dania, a short distance from Miami, suffered a similar withdrawal of funds and ceased operations shortly before noon. At the same time the Bank of Hollywood, also a short distance north of this city in Brow. county, withstood a brief run. The Bank of Beuna Vista and the Bank of Coconut Grove, allied institutions, made the following separate an nouncements: "The bank has decided to suspend operations for the present and will. therefore, not open for business today. It is actuated in this course by a desire to conserve its resources and to protect its depositors to the fullest extent. Local citizens now are working on a plan, and will announce the details in a few days, to organize locally controlled institution for liquidation and to relieve the situation." The Bank of Beuna Vista opened on October 19, 1920, with a capital stock of $15,000, which has been raised subsequently to $50,000. In July, 1925, when deposits totalled $1,500,000, the bank started work on a $100,000 building. The officers included R. Anthony, of Jacksonville, president, and John L. Grife, vice president. Officials declined to announce present deposits for either The Bank of Coconut Grove opened (Continued on Page Four.)
5.July 3, 1926The Washington PostWashington, DC
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BANKS CLOSE: SURVIVES
Institutions in Miami Suburbs Suspend; One at Hollywood Has Withdrawals.
HOPE TO REOPEN LATER
Miami, Fla., July Three local banks suspended operations, financial institution Dania closed its doors and Hollywood bank weathered heavy funds today. The Bank Coconut Grove and the Bank Buena Vista failed open for business and the Bank Little closed after run hour's duration. The Bank Dania, short from Miami, suffered similar funds ceased shortbefore the time the Bank of short distance of this in Browcounty, withstood brief run. The Bank Buena Vista the Bank of Coconut Grove, allied stitutions, made the following announcement has decided to suspend for the and will therefore open for business day. actuated in this cause by desire to conserve its resources and to protect its depositors to the fullest extent. Local citizens now are working on plan and will announce details in few days to ganize locally controlled institution for speedy liquidation and to the situation. The Bank of Little River, through Teed the feel desirable and advisable to suspend operations for the present. The bank is and in good shape. in of cash our and per not think the depositors dollar. He intimated his intention effecting early reorganization. President Parker, the Bank of Dania, announced immediately after closing that readjustment would be made that would enable the bank reopen shorthly and meet all obligations. The run the Bank of Hollywood was precipitated after receipt news the previous bank closings, but met through the receipts funds from Miami banks. The run subsided shortly after noon.
6.July 3, 1926The Indianapolis StarIndianapolis, IN
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LORIDA BANKS STOP OPERATION
Three in Miami-Run on Hollywood InstitutionBlame Loans.
MIAMI, Fla., July Three local operations. financial institution at Dania closed its doors and a Hollywood weath heavy withdrawal of funds today The Bank of Cocoanut Grove and the Bank of Buena Vista falled to open for and the Bank of Little after an hour's duration The Bank of Dania, short distance Miami suffered similar withdrawal of funds and ceased operations shortly before noon At the same the Bank of Hollywood also short distance north this in Broward county, withstood a brief run.
MAKE ANNOUNCE The Bank of Buena Vista and the Bank of Cocoanut Grove allied institutions, made the following separate an"The bank has decided to suspend operations for the and will therefore, not open for today It is actuated in this cause by desire to its and to protect its to the fullest extent. Local citizens now are working on plan and will announce the details in few days to organize locally controlled institution for speedy liquidation and to relieve the situa-
The Bank of Buena Vista opened on capital stock of $15,000. had been raised to The officers include R. Anthony of president and John Grife vice Officials declined to announce present deposits for either The Bank March 1920. with $15,000 capital On March 10 the bank capitalizati of and deposits totaling the board of directors with A. Sanders president The Bank of Little River, through President B. Teed we feel It advisable And designble to oper ation for the present The bank is sound and good shape. We have in excess of $200,000 in cash in our vaults and a reserve than 40 per cent. do think the depositors will lose
EXPECT He intimated his intention of effecting an early reorganization President I. T. Parker of the Bank of Dania announced after closing that readjustment would be made that would enable the bank to reopen short and meet all obligations. The run the Bank of wood was fter receipt news of the bank closings, but was met through the receipt of funds from Miami The run subsided shortafter President George the Miami House in the of suburban that control and loss on outside paper solely were responsible for the embar
7.July 3, 1926The Plain DealerCleveland, OH
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Florida Financial Concern Closes Doors, Another Weathers Heavy Run. local operations, Dania closed and bank heavy withdrawal funds today. The Bank of Coconut Grove and the of Buena failed for the Bank Little River closed run The Bank distance from similar and ceased shortly At the same time the of short disnorth of this city in Broward withstood a brief run. of Buena Vista and the of made the following bank has decided to suspend for the present and will not open for business It is actuated in this course desire its and to protect its depositors to the fullest Local citizens now on nounce the details institution for speedy liquidation and to relieve the situation. of Little River, through B. Teed 'In the we feel advisable and desirable to suspend for the present. The sound and in good shape. do not the depositors will lose a dollar. President T. Parker of the after closing that readjustment would be made that would enable the bank to reopen shortly and meet all The run bank of Hollywood precipitated after receipt of of previous bank closings, but was met through the receipts of funds from banks. The run shortly after noon funds sufficient to every deposit.
8.July 3, 1926The Philadelphia InquirerPhiladelphia, PA
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FOUR BANKS CLOSE DOORS IN FLORIDA
Three in Miami Suspend Operation; One in Hollywood Withstands Rush
Outside Control and Loans Are Blamed by Clearing House President
MIAMI. Fla., July financial Dania closed its doors bank weathheavy witdrawal funds today. Bank the Bank of Buena failed and the of Little closed duration Bank distance from Miami. similar withdrawal funds and operabefore the this county. brief run. The Bank Buena Vista and allied made the separate anbank has decided to suspend operations for the present therefore. not for today. is actuated by desire to fullest extent. citizens are now working plan announce the organize locally institution speedy liquidation and to relieve the Bank Opened in 1920 The Bank Buena Vista opened raised The officers include Anthony and officials declined to announce institution. The bank opened 1920. with $15,000 capital March 10 italization and deposits head the A. The bank Little River. through Reed the circumstances we fell ad. visable suspend for the present and have $200,000 cash and reserve than 40 not the depositors will lose dollar.
Plan Reorganizations He intimated his intention of Parker. the bank closing that would enable bank obligations The run news the bank But met through receipt funds from Miami found funds George the Miami clearing house commenting on the suspension of suburban declared outside loans responsible for the embarrassment
9.July 3, 1926The TennesseanNashville, TN
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3 Miami Banks Stop Operations, Others Fear Run
(Continued From First Page) ened in March. 1920. with $15.000 capital. On March 10. the bank announced cabitalization of $30.000 and deposits totalling $1,605.977. R. Anthony headed the board of directors. with A. W. Sanders as president. The bank of Little River. through President B. C. Teed. announced: "In the circumstances we feel It advisable and desirable to suspent operations for the present. The bank is sound and in good shape. We in excess of $200.000 in cash in our vaults. and reserve greater than forty cent. do not think the depositors will lose He intimated his intention of effecting reorganization. At the opening hour crowd awaited entrance to the Little River Bank. and within an hour the number had increased mr makIng withdrawals. Two squadrons of police were dispatched to prevent disorder. and an armored truck bearing funds from Cown town banks was President T. Parker of the Bank of Diana immediately after closing that read. justment made that would enable the bank reopen shortly and meet all obligations The run of the bank of Hollywood was precipitated after receipt of the news of the previous bank closings. but was met through the receipt of funds from Miami banks. The run subsided shortly after when announced funds sufficient to cover every deposit.
10.July 3, 1926Daily Kennebec JournalAugusta, ME
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Three Banks Fail At Miami, Florida Miami, Fla., July 2.-(P)-Three Miami financial institutions, the Bank of Cocoanut Grove, the Bank of Buenavista and the Bank of Little River, suspended operations here today. Outstanding loans on which they could not deliver were given by directors as reasons for suspension of activities.
11.July 3, 1926The Richmond ItemRichmond, IN
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THREE MORE FLORIDA BANKS SUSPEND OPERATION
(By The Associated Press) MIAMI. July local banks suspended operations, financial institution Dania closed its doors and Hollywood bank weathered heavy withdrawal of funds today. The bank of Cocoanut Grove and the Buena Vista failed open business the bank of Little River closed after run hour. The of Dania, short distance from Miami, suffered similar withdrawal funds and ceased operations shortly before noon. At the same time the bank of Hollywood brief run. The bank Buena Vista the 250 bank of Cocoanut Grove, allied stitutions, made the following separate "The bank decided to suspend operations for the present and will Passed by open for business today It actuated in this cause by desire to conserve its and to protect Its depositors the fullest extent. Local citizens now are on plan announce the details in days organize locally controlled institution for speedy liquidaand the situation." President Parker of the Bank Dania announced closing that readjustment would be made would the bank open shortly and meet all obligations. The run on the bank of Hollywood precipitated receipt the bank closings, but was met through the receipt funds from Miami banks. The run subsided shortly after noon.
Miss Hanna Popper and Miss Nellia Baker are School Oxford, spent the guests of Brookville relatives and friends. Webb his home Columbus, spending the of Brookville friends. Mr. and Mrs. Herman Hunter and family of Rushville, Robert and Mr. Hanna Fairfield guests of Clifford their home on East Eleventh Street.
12.July 3, 1926The Journal NewsHamilton, OH
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DOORS CLOSED BY FOUR BANKS OF MIAMI, FLA.
"Outside Control," Said To Have Been Cause Of "Embarrassment."
MIAMI, FLA., July 3-(AP) Three local banks suspended operations, financial institution nt Dania closed its doors and a Hollywood bank weathered & heavy withdrawal of funds Friday The Bank of Cocoanut Grove and the Bank of Buena Vista failed to open for business and the Bank of Little River closed after run of an hour. The Bank of Dania, a short distance from Miami, suffered a simi lar withdrawal of funds and ceased operations shortly before noon. At the same time the Bank of Holly wood, also a short distance north 0: this city in Broward County, withstood a brief run. The bank of Buena Vista opened on October 19, 1920, with capital stock of $15,000, which had been raised to $50,000 The officers in clude J. R. Anthony, of Jacksonville, President, and John Grife, Vice. Presndent Officials declined to an. nounce the present deposits for either institution The bank of Cocoanut Grove opened in March, 1920, with $15,000 cap: tal. On March 10 the bank announced capitalization of $80,000 and deposits totaling $1,605,977 J. R. Ar.theny headed the Board of Directors with A. W. Sanders as President President 1. T. Parker of the Donia, announced immediately after closing that a readjustment would be made that would enable the bank to reopen shrortly and meet all obli gations. The run on bank of Hollywood was precipitated after receipt of news of the previous bank closings. but W18 met through the receipts of funds from Miami banks
NO ISSUE OF THE DAILY NEWS MONDAY
Monday being Independence Day. there will be no issue of The Daily News.
13.July 3, 1926The Owensboro MessengerOwensboro, KY
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4 FLORIDA BANKS CLOSE DOORS IN MIAMI SUBURBS
(Continued From Page One) speedy liquidation and to relieve the stiuation." Present Deposits Not Announced. The Bank of Buena Vista open. ed October 19, 1920. with capital stock of $15,000. which has been raised subsequently to $50,000. In July, 1925, when deposits totalled $1,150,000 the bank started work on $100,000 building The officers included J. A. Anthony. of Jacksonville, president, Food for and John L. Grife, vice president. Officials declined to announce present deposits for either institution. The Bank of Coconut Grove opened March. 1920. with a capital of $15,000. On March 10, the bank announced capitalization of 4th $30,000 and deposits totaling $1,605,977. R. Anthony headed the board of directors with A. W. Sanders as president. The Bank of Little River, through President B. C. Teed, anDown 43c nounced: To-Lb. the circumstances we feel it advisable and desirable to suspend operations for the present The bank is sound and in good 25c shape. We have in excess of $200.000 in cash in our vaults and serve greater than forty per cent. 15c do not think the depositors will lose dollar." He intimated his intention of ef2 lbs. 21c fecting an early reorganization. To Crowd Awaits Opening 9c At the opening hour a crowd awaited to the Little 9c River bank an hour and within an hour the number had increased 23c for making withdrawals Two squadrons of police were dispatched to prevent. disorder. and an Down 25c armored truck bearing funds from To-Lb. down town banks was sent. President T. Parker, of the 9c Bank of Dania. announced im20c mediately after closing that readjustment would be made that would enable the bank to reopen shortly and meet all obligations. The run on the Bank of HollyGinger 2 Bots. 27c wood was precipitated after reAle ceipt of news of the previous bank Deposit. closings, but was met through the receipt of funds from Miami 20c banks. The run subsided shortly after noon when officers announc18c ed funds sufficient to cover every 55c deposit. Miami Banks Sound. Claim. President George Romfh, of the 49c Miami Clearing House associaSize--Doz. tion. in commenting on the suspension of three suburban banks. 75c declared that outside control and $1.00 loans on outside paper solely were responsible for the embarrass36c ment. "The banks of Miami today are 7c in an impregnable position,' Clark B. Davis, president of the 24c City National Bank and Trust company, declared, "Each of the downtown banks today is operating entirely on its own capital, a thing of which few banks in any part of the country boast. And although such condition is inconceivable, if there was demand of depositors made upon these banks we could pay every dollar of the liabilities faster than the depositors could carry it FATTY HARPER IE MARBLE WINNER
(Continued From Page One) and a boy marble shooter. The victory Willis Harper, of Bevier, Muhlenberg county, places him in the championship class entered recently by Miss Pauline Bell. Clarkson, Grayson county. Their homes are forty miles apart on an airline. Her home folks burned all the old straw hats in town when the thirteen year old girl out-spelled everything in sight at Washington in the National Spelling contest. via Harper is to get ride on the biggest fire truck in Owensboro, which city he represented in the marble tournament at Atlantic City, when he arrives there next week. There is telling yet what they will do for him when he reaches the mining town called home.
14.July 3, 1926Standard-SpeakerHazleton, PA
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FOUR FLORIDA BANKS CLOSED THEIR DOORS
MIAMI, Fla., July 2. (AP)-Three local banks suspended operations, a financial institution at Dana closed its doors and a Hollywood bank weathered a heavy withdrawal of funds today. The Bank of Cocoanut Grove, the Bank of Buenavista, the Bank of Little River and the Bank of Dania were the ones to cease operations. The run on the Bank of Hollywood was precipitated after weceipt of news of the previous bank closings, but was met through the receipt of funds from Miami banks.
CLOSED BANKS AFTER "RUNS" in Miami Suspend Operations.
INSTITUTION WITHSTANDS DEMANDS
Buena Vista, Coconut Grove, Little River and Dania Concerns Cease Business— Optimistic View Taken.
MIAMI, suspended operations, finaninstitution Dania closed weathered withdrawal funds today. The Bank of Coconut Grove and the Buena failed open for and the Bank of Little River after determined run of an duration. The Bank Dania, distance from Miami, suffered withdrawal funds and operations shortly before noon. same time the Bank of Hollyshort north city Broward county, withbrief The Bank Buena Vista and the Bank Coconut Grove, allied institumade the following separate has decided to suspend the present will, therefore, not open for business today. actuated in this cause by desire its to protect depositors the fullest extent. citizens working will announce the details in days, organize locally for speedy liquidaThe Bank Buena Vista opened on Oct. 1920, with capital stock $15,000, which has been raised subsequently $50,000. July, deposits totaled the bank work $100,000 buildThe officers included R. AnJacksonville, president, and Officials declined present deposits institution. The Bank of Coconut Grove opened March, 1920, with $15,000 capital. March 10 the bank cap. italization and deposits taling $1,605,977 R. Anthony the board of directors, with Saunders president. Bank of Little River, through Teed, circumstances, feel it advisable desirable to for present. The bank sound and shape. in of $200.000 in our vaults and reserve than 40 per cent. do depositors will lose dollar. He his intention of effecting an early hour crowd awaited the Little River bank and within hour number creased for withdrawals. squadrons of police dispatched to prevent and armored truck bearing funds downtown banks President Parker, of the Bank closing that would that enable the bank shortly meet all run Bank receipt news but of funds from cover every Romfh, Miami Clearing House association, commenting the suspension control loans paper soleresponsible for the banks of Miami today in Da president the National and declared. the banks today capital, which country boast. And, such is though there was demand of deposimade could faster than depositors could carry away.
16.July 3, 1926The Charlotte ObserverCharlotte, NC
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BANKS SUSPEND OPERATIONS TOWNS
Close Their Doors Following Heavy Run by Depositors. HOLLYWOOD WEATHERS
Two Banks Announce Closing in Order to Conserve Resources and Protect Patrons.
MIAMI, July Three local banks suspended operations, financial institution at Dania closed its doors Hollywood bank weathered heavy withdrawal funds today. The Bank of Cocoanut Grove, and the Bank of Buena Vista to open for business and the Bank of Little River closed after run of an hour. The Bank of Dania, short distance from Miami, suffered similar withdrawal of funds and ceased operations shortly before noon. At the same time the Bank of Hollywood, also short distance north of this city, withstood brief run. The Bank of Buena Vista and the Bank of Cocoanut Grove, allied Institutions, made the following separate bank has decided to suspend operations for the present and will therefore not open for business today. It is actuated in this cause by desire its and protect its depositors to the fullest extent. Local citizens now working on plan and will announce the details in few days to organize Institution for speedy liquidation and to relieve the situation." The Bank of Buena Vista opened October capital stock which had been raised to declined announce present deposits for either institu-
The Bank of Coconut Grove openMarch, 1920, with $15,000 capital. On March 10. the bank capitalization and deposits totalling board of with Sanpresident. AMPLE PROTECTION The Bank Little River, through President Teed announced: we feel advisable and desirable suspend operations the present. The bank and good shape We in excess vaults and greater than 40 per think the depositors will last
He intimated his intention of effecting President Parker of the Bank Dania, announced immediately after closing that readjustment
17.July 3, 1926The Commercial AppealMemphis, TN
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THREE MIAMI BANKS SUSPEND OPERATIONS
One Hollywood Institution Withstands a Run.
MIAMI, Fla., July (AP) Three local banks suspended operations, a financial institution at Dania closed its doors and a Hollywood bank weather a heavy withdrawal of funds today. The Bank of Coconut Grove and the Bank failed to open for business, and the Bank of Little closed after run hour's duration. The Bank of Dania, short distance funds and before noon, at the same the Bank of also disthis Broward brief run. The Bank of Buena the Bank insti made the following separate bank has decided to suspend not a is actuated in this cause to its and to protect its deposite to the fullest Local citizens are working on nounce the details few days tion speedy and to reThe the Buena Vista opened on with capital tsock of $15,000. which has been raised quently $50,000. In July, 1925, bank started work on $100,000 buildThe included R. Anof and John president. cials declined to announce present deposits for institution. The opened in March, 1920, with $15,000 capital, March 10 the announced and deposits totaling $1,605,977 Anthony headed the of Sanders as president. The Bank Little River, through feel advisable and desirable to suspend the bank is sound in excess of in cash in our vaults and reserve than 40 per do the depositors his affecting an early re to River bank, and within an hour the number had dispatched to disorder. and an armored truck funds from was President Parker the Bank Dania. announced after would be made that would enable reopen shortly and meet all The on the Bank of Hollywood of of the previous bank closings was met through receipt of funds from Miami banks. The shortly when announced funds sufficient to every deposit.
18.July 3, 1926Richmond Times-DispatchRichmond, VA
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THREE FLORIDA BANKS DRIVEN TO THE WALL
All Are State Institutions in Suburbs of Miami.
[By Associated Press.] MIAMI. FLA.. July 2.-Three financial in Miami suburbs. the Bank of Grove, the Bank of Buena Vista and the Bank of Little River, suspended erations here today. The outstanding loans on which they could not deliver were given by directors reasons for of activities. Run on One Bank All three are State institutions The Bank of Cocoanut and the Bank of Buena Vista failed to business and the Little River Bank opdepositors had staged on Two squads police were dispatched to maintain order and money was sent from Miami but the institution's directors down. The Grove Bank was $15,000 capital. later its capital was doubled and had deposits of The Buena Vista Bank 1920 with when had started work on
Bank of Dania Suspends, The Bank of closed its doors today follow. by of the bank announced noon a would be made mediately that the reopen shortly and meet all its
Weathers the Storm. The Bank Hollywood weath run which gan at A. and lasted until after After every seeking withdrawal of funds had dent, issued statement saying the bank had satisfied every demand. Large sums are said to sent to the Hollywood Bank from Miami, and. when the run subsided. bank officials said they had more than enough cash reserve to satisfy every deposit.
19.July 3, 1926Ledger-EnquirerColumbus, GA
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BANKS THREE MIAMI CLOSE DOORS FRIDAY
MIAMI, Fla., July local suspended operations, a financial institution Hollywood at Dania closed bank weathered its doors and heavy withdrawal of funds The today. Bank of Cocoanut Grove and the Bank of Buena Vista failed to for business, while the bank of Little River closed after determined run of an hour's duration. The Bank of Dania, suffered similar withdrawal of funds before and ceased noon the operations same time shortly the bank of Holly wood, both short distance north of this city in Broward county, withstood The Bank brief of run. Buena Vista and the bank of Cocosnut Grove, allied institutions made the following separate "The bank has decided to suspend operations for the present and will, therefore, not open for business today. It is actuated in this cause by desire to conserve its and to protect its to the fullest extent. Local citizens now are working plan, and will announce the details in few days to organize locally controlled institution for speedy liquidation and to relieve the The Bank of Buena Vista opened on. October 1920, with capital stock of $15,000 which has been raised subsequently to $50,000. In July 1925. when deposits totailed $1,500,000 the bank started work on its $100,000 building The efficers included, R. Anthony of Jack. sonville, and Grice, vice president. Officials declined to announce present deposits for either institution The bank of Cocoanut Grove opened in March, 1920, with On March 10 the $15,000 bank capitalization Anthony was man the board of directors, with The Bank Little River, through the circumstances, felt advisable and desirable to suspend The operations for the bank sound in good shape. We have in excess of $200,000 cash in our vaults and reserve greater than forty per cent. not think the depositors lose dollar He intimated his intention of affecting an early reorganization.
20.July 3, 1926Detroit Free PressDetroit, MI
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BANKS CLOSE, 'RUN' ON FIFTH
Florida Institutions Face Crisis; "Readjustments" Are Announced.
Miami, Fla., July the AsPress local banks suspended a financial institution at Dania closed its doors and a Hollywood bank weathered a heavy withdrawal of funds today The Bank Cocoanut Grove the Bank of Buena Vista failed open for and the Bank of Little River closed after run of an hour's duration. The Bank of suffered similar withdrawal of funds and ceased operations shortly before noon. At the same time the Bank of also short distance from this city, withstood a brief
Make Statements.
The Bank of Buena Vista and the Bank Cocoanut allied the following arate bank has decided to suspend for the present and therefore not open for business day. in this by desire and to its the citizens are working and the details days organize tution speedy liquidation and re The Bank of Buena Vista opened October with stock had present deposits for either The Bank Cocoanut Grove March March 10 the bank announced and deposits
Has $200,000 Reserve. The Bank of Little River the feel advisable pend sound good have excess of and reserve than 40 President Parker of after closing that would be made the bank reopen shortly and meet the Bank receipt news of receipts funds Romfh of the Clearing suburban control solely ble for
