2026. Bank of Buena Vista (Miami, FL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 2, 1926
Location
Miami, Florida (25.774, -80.194)

Metadata

Model
gpt-5-mini
Short Digest
9d778af52b53d1db

Response Measures

None

Description

Multiple contemporaneous newspaper accounts (Jul 2–3, 1926) report the Bank of Buena Vista 'failed to open for business' and announced it 'has decided to suspend operations for the present' and local citizens planning liquidation. Papers attribute the trouble to 'outside control' and 'loans on outside paper' (i.e., problems with correspondent/outside paper). There is no article text confirming a subsequent reopening; announcements indicate steps toward liquidation, so I classify this as suspension followed by permanent closure.

Events (1)
1. July 2, 1926 Suspension
Cause
Correspondent
Cause Details
Papers cite 'outside control and loans on outside paper' and 'outside loans' as responsible for the embarrassments leading to suspension.
Newspaper Excerpt
The Bank of Coconut Grove and the Bank of Buena Vista failed to open for business, The bank has decided to suspend operations for the present and will, therefore, not open for business today.
Source
newspapers

Newspaper Articles (13)
1. July 3, 1926 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, July 3, 1926

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Article Text

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

2. July 3, 1926 Star Tribune Minneapolis, MN
Article from Star Tribune, July 3, 1926

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Article Text

Four Florida Banks Suspend Operations Institution at Hollywood, Fla., Survives Run by Obtaining Funds From Miami. Miami. Fla., July 2.-(By Associated Press -Three local banks suspended op. nia closed its doors and Hollywood bank weathered a heavy withdrawal of funds today. The Bank of Coconut Grove and the Bank of Buena Vista. suburbs. failed to open for business, and the Bank of Little River closed after a run of an hour's duration. 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 Holly wood. also short distance north of this city, in Broward county, withstood brief run. The Bank of Buena Vista opened Oc tober 19. 1920, with capital stock of $15,000. which had been raised to $50.000. Officers declined to announce pres. ent deposits for either institution The Bank of Coconut Grove opened in March, 1920, with $15,000 capital. On March 10 the bank announced capitalization of $30,000 and deposits total. ing $1,605,977. The run on the Bank of Hollywood was precipitated after receipt of news of the previous bank closings, but was met through the receipt of funds from Miami banks President George Rompfh of the MI. ami Clearing House association de clared that outside control and loans on outside paper solely were responsible for the embarrassment.

3. July 3, 1926 The Morning Call Allentown, PA
Article from The Morning Call, July 3, 1926

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Article Text

BANKS CLOSE DOORS WITHDRAWAL OF FUNDS AFTER Head of Clearing House Asso. Says Outside Control and Loans Responsible for Present Conditions— Depositors Protected, Heads Say July local banks suspended operation, financial institution at Dania closed its doors and Hollywood bank weathered heavy withdrawal of funds toThe Bank of Coconut Grove, and the Bank Buena Vista failed business the Bank Little River closed hour's duration. The Bank Dania, short distance from funds ceased before noon. At the same time the bank short distance north of this city Broward County, brief run. of Buena Vista and the Bank allied made the following bank has decided suspend operations the and will, therefore, not open for actuated in this by desire protect its depositors the fullextent, local citizens are will announce the details in few organize locally controlled for speedy liquidation and to relieve the The Bank of Buena Vista opened October 1920, with capital stock $15,000, which has been raised $50,000. The officers include Anthony, head the board of direcwith Sanders, president. The Bank of Little River, through President Teed feel visable operations for the present. bank sound good We have excess of $200,000 in and forty per think the will He his intention of fecting an President Parker, the Bank Dania, immediately closing that readjustment would enable the bank reopen shortly and meet all obligations. The run the Bank of precipitated of the previous bank closings, but through receipt funds Miami Banks. The noon when ficers found funds sufficient to cover deposit President George Romfph 'of the Miami association commenting the suspension three suburban banks, that outside control loans outside paper solely responsible for the

4. July 3, 1926 Marysville Journal-Tribune Marysville, OH
Article from Marysville Journal-Tribune, July 3, 1926

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Article Text

FLORIDA BANKS CLOSED DOORS MIAMI, Fla., July 3.-The Bank of Coconut Grove and the Bank of Buena Vista failed to open for business here yesterday and the Bank of Little River closed after an hour's "run on the bank". The Bank of Dania, a short distance from Miami, ceased operations in the morning af ter "run" on it. The Bank of HolCocoanut Grove and the Bank of heavy "run."

5. July 3, 1926 The Owensboro Messenger Owensboro, KY
Article from The Owensboro Messenger, July 3, 1926

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Article Text

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.

6. July 3, 1926 The Los Angeles Times Los Angeles, CA
Article from The Los Angeles Times, July 3, 1926

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IN FLORIDA RULER MAY QUIT Four More Fail Congress's Delay to Open Doors Irks Andrews Three Institutions at Miami and One Other at Dania Suspend Operations Fifth Concern Averts Crash Following Brief Run by Panicky Depositors MIAMI. (Fla.) July local banks suspended operations, Bnancial institution at Dania closed doors and Hollywood bank weathered heavy withdrawal of funds today. The Bank of Coconut Grove and the Bank of Buena Vista failed to open for business and the Bank of Little River closed after run of an hour's duration. The Bank of Dania. short distance from Miami. suffered similar withdrawal of funds and the same the Bank of Hollyalso near Miami, withstood brief The Bank of Buena Vista and the Bank Grove, allied institutions. made the following separate announcements "The bank has decided to suspend for the and will open for this cause desire its and to protect its depositors to the fullest extent. Local citizens working plan and will announce the details few days to organize locally controlled for speedy liquidations and to relieve the situation." The Bank of Buena Vista opened 1920. capital stock of which had been raised to $50,000. Officials declined announce present deposits for either institution. The Bank of Coconut Grove opened March. 1920 $15,000 capital On March 10. the capitalization and deposits totaling The of Little River. through President Teed the circumstances we feel advisable and desirable to suspend for the present. The bank sound and good shape. We have excess $200,000 our vaults and reserve greater than do not think the delose President Parker of the Bank Dania announced immediately after closing that readjustment would be would enable the bank reopen shortly and meet George Romfh of the Miami Clearinghouse Association the suspension three suburban banks. declared that outside control loans on outside paper solely responsible for the embarrassment. Prohibition Chief Considers Resigning Next Fall Due Lack of New Laws Continues Organization for More Efficient Fight on Nation's Rum Trade WASHINGTON. July couraged over the failure of Congress to enact his legislative program. Assistant Lincoln C. Andrews, in charge of prohibition enforcement. While the chief has not reached decision. he today friends that he giving Congress fails to act on the before said, will be serious handicap the campaign have outlined this Although Congress given me the vital that have the we going to get at the real sources liquor supplies.' FORCES the busy the new forces thorized by Congress for the fiscal year which began and his into shape fore he leaves next week for London. Gen. Andrews will head the American mission going to England the that government effort co-operation between the countries in enforcement of the smuggling treaty There possibility that he will visit other European unofficially in that connection and he will not reShould Mr. decide to not believed he would do before September He does not want quit until he satisfied that the prohibition forces on working basis HEALTH AFFECTED Another factor the situation the health Mr Andrews who has been affected recent months by the strain his work. Among the bills which Gen. Andrews to Congress "necessary the enforcement prohibition,' providing for separate prohibiand measures authorizing more strict of alcohol and brewery and another with several provisions posing to put "teeth" in the Volstead The House the first of these. which Senhave been favorreported both the Senate the House, but have been brought vote. In connection with his new or- (Continued on Page Column 2)

7. July 3, 1926 The Huntington Press Huntington, IN
Article from The Huntington Press, July 3, 1926

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SALOON LEAGUE SPENT SEVEN MILLIONS IN 22 STATES TO AID PROGRAM ASHINGTON, July of more than $7.000,000 by the Anti-Saloon League in 22 states during the past six years were disclosed by additional reports filed today with the senate campaign funds committee by Wayne B. Wheeler, counsel for the national dry organization. These states include New York, Maryland and Rhode Island, which alone have no local dry enforcement statues, as well as Pennsylvania, Illinois, Indiana, Wisconsin, Iowa, Missouri and Kentucky. While the state organization contribute certain of a part their income to the national Anti-Saloon league, it was deWANT UNIFORM veloped from Mr. Wheeler who occupied the stand nearly five hours, that both the national PENSION LAWS and state do their own financing independent of Teachers Approve Demand each other. at National Education Accountants who audited books of the Convention tion at Westerville, Ohio, had furnished July Senator Reed, Democrat, Missouri, National Educational Association, in the chairman with those who conthe closing moments its annual conventributed more than $500 to parent but Wheeler tion, today inaugurated campaign organization, Mr. objected to the names being made pubile. obtain uniform pension laws for teachAsks Reasons ers. This action was taken by the rep "Well, you can state your reasons resentatives' assembly in approving the snapped Senator Reed. report of Miss E. Pyrtle, Lincoln, "Wheeler insisted he would like present the matter to the whole com- Neb., chairman of the committee of 100 mittee the chairman announced the problem retirement allowances. decision would be deferred. The association adopted resolution Wheeler presented also number affirming its faith in the value of other reports, including one from Andrew Wilson, treasurer of the league's petitive athletic sports campaign committee, showing expendibelief that public recognition tures since should be given distinguished achieveOctober 1924. This did not include ments in scholarship as to avoid the expenditures primaries. giving athletics first place After concluding his examination in school life." Senator Reed announced the committee would seek further light the activities dry organization tomorMIAMI BANKS from Dr. Ernest H. Cherrington its general secretary and meantime would inquire tonight in its "campaign chest" raised the Republican and Democratie national committee for the atorial and congressional fights year. Senator Reed subjected Mr. WheelOne at Davia Also Shuts long and examination. Loses Patience Doors in Face of Big The chairman several times lost tience length of the replies and Run finally exclaimed "Now listen here, Doctor, when man flat statement in front your banks finanand quibble about time institution Dania closed its doors for even patient man bank weathered heavy patience You are going funds today. questions and answer them without The bank of Cocoanut Grove and the making speeches if have to stay bank Buena Vista failed until the snow flies" business and the bank Little River I'm ready to stay here," Wheeler retorted The dry leader said closed after run The bank Dania, short distance from Miami, the organization had spent in Pennsylvania suffered similar withdrawal of funds money during the $3,000,000 ceased operation shortly before noon. ent Republican primary contest because dry leaders had been the same time the bank of brief run. to agree candidate oppose Representative William Vare, The bank of Buena Vista and the bank avowed who defeated Governor Pin- Cocoanut Grove, allied institutions, chot Senator Pepper, both counted made the following announcethe dry side. ments: Denies Writing Act Makes Announcement. Wheeler denied he had written the bank has decided to suspend celebrated Volstead act and picked Vol- erations for the present and will stead to champion the measure in for business today. actuated gress. Declaring that the dry organiza- by desire to conserve its tion was willing quit the fight before resources protect its depositors congress prohibition question if the the fullest extent. Local citizens wets would. said, working and will announce stay here the Volstead act would the details days to organize wiped locally controlled institution for speedy Senator Reed then wanted to know liquidation and to relieve the situation." what league President Parker the bank exerted in appointment of enforcement Dania announced after closing that officers. Wheeler conceeded that the re-adjustment would be made that would league enable the bank to re-open shortly and interfere with the appointment all obligations. meet these asked. run on the bank of Hollywood was interfere when think there precipitated after receipt of news of the effort across crooked put previous bank elosings, but was met the dry leader retorted with show the funds from Miami through receipt The subsided shortly after Then Senator Reed read into the series letters touching the services Representative Upshaw, Democrat, Georgia. These showed that Upshaw sought $75 for delivery speech 1924. but finally to deliver the address for plus taxi Chairman made matter record that Pearson Hobson, member the house and hero the Merrimac sinking Santiago the Spanish war received $171,249 league from 1914 to 1922 and that the late Williams was for lecturing for the league 1010. find that Willis drew the year 1919" Reed pursued. "Is that Wheeler replied, adding that this was before Willis was elected the senate.

8. July 3, 1926 The Tribune Scranton, PA
Article from The Tribune, July 3, 1926

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FLORIDA BANKS CLOSE DOORS: ASSURE DEPOSITORS NO LOSSES July suspended financial institution Dania closed its doors and Hollywood bank weathered heavy withdrawal of funds today. The Bank of Coconut Grove and the Bank of Buena Vista failed for and the Bank of Little closed an hour's duration. The Bank Dania, short distance from suffered similar withdrawal of funds and ceased shortly before noon. At the time the Bank Hollywood, also short distance north of this in Broward county. withstood brief The Bank of Buena Vista and the Bank of Coconut institutions, made the following separate announcements: "The bank has decided to suspend operations for the present and will. therefore, not open for business tois actuated in this cause desire conserve resources and protect Its depositors to the fullest extent. local citizens are now working plan and the details organize locally controlled for speedy liquidation and to relieve the situation." The Bank of Buena Vista opened on 19. capital stock $15,000. has raised $50,000 The officers include who headed board of with Sanders president. The Bank of Little River, through President the we visable and desirable to ations for the present. The bank sound and In shape. (Continued on Page Two)

9. July 3, 1926 The Gazette and Daily York, PA
Article from The Gazette and Daily, July 3, 1926

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FLORIDA BANKS IN DIFFICULTIES Three Miami And Suburban Banks Suspend Business RUN ON ANOTHER MET July local banks suspended Dania closed its doors bank heavy withdrawal of funds today. Bank Coconut and Bank Vista failed open the Bank Little after of an hour's duration The Bank of short suffered funds and ceased same time the Bank of Holly short distance of this Broward county stood brief The Bank Buena Vista and the Bank of Coconut Grove allied instimade following separate decided to suspend operations for present and business day It actuated in cause to conserve its resources and fullest Continued on Seventh Page)

10. July 3, 1926 Blackwell Journal-Tribune Blackwell, OK
Article from Blackwell Journal-Tribune, July 3, 1926

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FLORIDA BANKS FORCED TO CLOSE Three Miami Banks Are Among Number Compelled To Suspend local banks suspended operations, institution Dania closed its doors and bank heavy withdrawfunds Bank Grove and the Bank of Buena Vista failed for and the Bank Little River closed after hours' duration. The Bank Dania, short distance from Miami suffered similar withdrawal funds and ceased operations shortbefore noon. At the same time Bank of Hollywood, also short distance north of this city in Browcounty, withstood brief run. The Bank of Buena Vista and the Bank Cocoanut Grove, allied institutions, made following separate bank deceided to susoperations for present will therefore, not open business today. actuated this cause by desire conserve resources and protect its depositors the fullist extent. Local are plan and announce the few days to organize locally controlled for liquidation and to relieve Then Bank of Buena Vista openOctober 1920, with ital stock of $15,000, which been raised to $50,000. The officers include Anthony, of Jacksonville, president, John Graife, vice president. Officials declined present deposits for either institution. The Bank Cocoanut Grove March 1920 with $15,000 capital. On March 10, the bank announced capitalization of $30,000 and posits Anthony headed the board of directors with W. Sandpreseident. The Bank Little River, through President C. Teed, anthe circumstances, we feel advisable desirable suspend operations for the present. The bank is sound and in good shape. We have in excess of cash in our vaults and reserve greater than forty per cent, and do not think the depositors will dollar.' He initmated his intention effecting an President the Bank Dania, announced after the closing that readjustment would be made that would able to reopen shortly and meet all obligations.

11. July 3, 1926 Transcript-Telegram Holyoke, MA
Article from Transcript-Telegram, July 3, 1926

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THREE MIAMI BANKS CLOSE THEIR DOORS Suspend Operations; Speedy Re-organization Promised -Run on Bank MIAMI, Fla., local at its and weathered withdrawal of yesterday. The Balk and the Bank of Buena Vista failed to for the Little River closed after an hour's The of of Hollywood, suffered similar withdrawal of funds time the Bank of near withbrief The Bank of Buena Vista the Bank Grove, allied institutions, made the following separate announcements: "The bank has decided to suspend operation the present, and, therefore, will not for business today. actuated by to conserve and its dépositors to the fullest Local citizens are working plan and will nounce the details days, organize locally for speedy liquidation and to relieve the situation." Opened in 1920. The Buena Vista opened on October 1920. with capital stock of $15,000. which had been raised to $50,000. Local officials declined to announce The Bank Cocoanut Grove opened in March. 1920, with $15,000 capital. On March 10. the bank capitalof deposits of $1, The Bank of Little River. through President C. Teed have in excess of in in our vaults and reserve greatthan 40 per cent. do not think the depositors dollar He intimated his intention of effecting an early reorganization. President Parker of the Bank of Dania after closing that readjustment would be made enable the bank reopen shortly and meet all obligaThe run on the Bank of was precipitated after receipt of news of the previous bank closings, but met through receipt funds from Miami banks. run subsided shortly after noon. having funds sufficient cover every deposit. President George Romfph of the MIaml clearing association in menting on the suspension suburban declared that outside control loans outside paper solely were responsible for the embarrassment.

12. July 3, 1926 Ledger-Enquirer Columbus, GA
Article from Ledger-Enquirer, July 3, 1926

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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.

13. July 3, 1926 Riverside Daily Press Riverside, CA
Article from Riverside Daily Press, July 3, 1926

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Three More Banks Close in Miami MIAMI, Fla., July closed their doors yesterday in the greater district. They were the Bank of the Grove, the Bank of Buena Vista and the River bank. The first two institutions closed, according to of rectors, to effect reorganization. The closing of the two suburban caused run the Little River bank which forced to suspend operations.