Accommodated withdrawals, Borrowed from banks or large institutions, Fed/other loan, Public signal of financial health, Books examined
Description
Articles (Feb 6–8, 1928) describe an orderly but determined run on the First National Bank of Miami after three other Miami banks (Southern Bank & Trust, Citizens Bank, Bank of Allapattah) failed to open due to anonymous letters. The First National remained open, paid depositors, and received large shipments of currency from the Federal Reserve to meet withdrawals. I include suspension events for the other banks (mentioned in the articles) for context.
Events (4)
1.August 8, 1902Chartered
Source
historical_nic
2.February 6, 1928Run
Cause
Local Banks
Cause Details
Run at First National was triggered by the failure/closing of three other Miami banks (Southern Bank & Trust, Citizens Bank, Bank of Allapattah) after anonymous letters; depositors sought funds from First National.
Measures
Federal Reserve branch at Jacksonville sent $6–7 million (reports vary: $6,000,000–$7,000,000; some articles say $7,000,000 or $7,000,000+); tellers paid out cash to depositors; officials mingled with crowd to maintain order.
Newspaper Excerpt
Seven million dollars in cash will be sent to the First National bank by the Federal Reserve bank branch in Jacksonville by airplane and train to pay all depositors who wish to withdraw their funds
Source
newspapers
3.February 6, 1928Suspension
Cause
Rumor Or Misinformation
Cause Details
Citizens Bank and Bank of Allapattah were ordered temporarily closed by the state comptroller out of fear they could not withstand withdrawals after anonymous letters and the Southern Bank's suspension.
Newspaper Excerpt
Amos ordered the Citizens' Bank and the Bank of Allapattah temporarily closed.
Source
newspapers
4.March 15, 1928Reopening
Newspaper Excerpt
The Southern Bank & Trust company had suspended business but would reopen March 15. President J. E. Lummus said ... deposits in open accounts and trust funds were fully protected.
Source
newspapers
Newspaper Articles (17)
1.February 6, 1928Merced Sun-StarMerced, CA
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Article Text
Anonymous Letters Cause Withdrawal Of Funds In Miami
Boxing Gloves Latest Weapons For Duel in France
MIAMI. Fla.. Feb. Miami banks failed to for business today. They were the Southern Bank & Trust company, the Citizens bank. and the Bank of Allapattah. The Bank & Trust company requested Comptroller Amos assume charge of its affairs, pending strengthening of finances, following heavy withdrawals of posits caused by circulation anonymous letters predicting its failure. Amos ordered the other InstituFob. 6. tions not to open in the belief that traditional dueling weapons, they were not in financial position swords and pistols, went to withstand large withdrawals inthe board when M. Liborel, cident to the closing of the Southbusiness man. met M. Doeern Bank & Trust company. Under quois. dramatist. on the field normal conditions they could opof honor. They used ordinary erate, he said. adding that there boxing gloves to settle their had been no sign of run at either differences. The dramatist place. on points. Liborel challenged Docquois to a duel to avenge what he considered to be direct in: sult in the dramatist's latest play. Three hundred invitations were Issued so that the world might know every point of honor had been observed. Four hundred persons attended.
Many heavy swings were noted in the combat. but little damage was done. 11 the conclusion Liborel kissed his ODponent to show that honor was
Letters Warn In announcing that the Southern Bank & Trust company had suspended business but would reopen March 15. President J. E. Lummus said that large demands for cash during the last few days had been caused by anonymous letters written to depositors and advising them to quietly get money out of the Southern bank The letters, he said. were signed "Hiram." and bore crudely drawn Masonic emblem. They were mailed Saturday January 28. Miami. but Mr. Lummus was un able to estimate their number, more accurately than that there were "more than a dozen." Some sent to persons who were not depositors, he added. Author Is Sought
The police are seeking to trace the sender. President Lummus said that deposits in open accounts and trust funds were fully protected. Other banks reported no unusual Run on Fourth Bank Noon found determined run progress at the First National bank, with the institution accommodating the orderly crowd as fast as gained the windows Seven million dollars in will be sent to the First National bank by the Federal Reserve bank branch in Jacksonville by airplane and train to pay all depositors who wish 'to withdraw their funds, of ficials of the local institution nounced. While police sought the sender of the anonymous notes to officials of the southern bank tributed responsibility for gradual but heavy withdrawals during the last few days. copies of them. varying in phraseology, were public. One said: "Quietly get your money out of the Southern Bank is & Trust (Signed) "Hiram."
Three Miami Banks Fail To Open
-Three Miniul banks failed to open for business today. They wore the Southern Bank and Trust Company, the Citizens' Bank and the Bank of determined THE OIL the First Nahour today following the fallure of tions to open for business Inday. The 12:30. Other large banks reported normal bustonss conditions. Officers of the First National Bank mingled with the crown In the lobby Heren million dollars In cash will be sent to Flost Nuttonal Bank by Jacksonville by airplane and train to pay nil who wish to Ing all orderly run on the bank.
3.February 6, 1928The Plain SpeakerHazleton, PA
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Article Text
SUSPEND
Heavy Withdrawals Occur Following Anonymous Letters Predicting Failure.
MIAMI, Miami banks failed open for today. They were the Southern Bank and Trust Company, the Citizens Bank, Bank Allapattah. Anoynmous Letters. The Southern Bank and Trust Company requested Comptroller Amos assume charge its fairs pending strengthening of nances, following heavy deposits caused by circulation anonymous letters predicting failure. Amos ordered the other Institutions to open in the belief that they were financial position withstand large withdrawals which might result from excitement incident the closing the Bank and Trust Company. Under normal conditions could operate, said. adding that there no sign of either place. announcing that the Southern Bank and Trust Company had pended business but would reopen March and that the troller taken charge the quest officials, President Lummus said in public statement that demands for cash durthe last few days had been caused by letters writdepositors and advising them quietly get your money out the Southern Bank. The letters. he said, were signed "Hiram" and bore crudely drawn Masonic emblem. mailed Saturday Jan. in Miami. but Lummus was unable to estimate their number, more accurately than there were than dozSome who not depositors, he added. Police are seeking to trace the sender. Lummus said that deposits in accounts and trust funds were protected. Other banks reported unusual withdrawals. Run On Other Bank. determined run the First National Bank began during the hour. The bank's large lobby accommodated all who sought to gain admittance up 12:30. Other large banks reported business conditions. Officers the First National Bank mingled with the crowd in the lobby and could not be reached mediately for statement. The bank's regular closing time
4.February 6, 1928Norfolk Daily NewsNorfolk, NE
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ACTION CLOSING THREE OTHER MIAMI
Miami, million dollars cash the First National bank Federal Reserve bank branch Jacksonville by airplane and all depositors who withdraw their funds, officials local institution announced afternoon following orderly bank growing out closing of three other local cial institutions morning. The three banks that open for business today Southern Bank and Trust pany, the Citizens bank, and Bank of The Bank and Trust company requested Comptroller Amos assume charge of its fairs pending nances, following heavy withdraw. deposits caused circulation of anonymous leters predicting failure. President Lummus bank said that "large demands during the last days been caused letters writen to depositors and them to "quietly your money the The letters, said, were sign "Hiram" bore crudely drawn Masonic Police are seeking to trace sender. President Lummus said that deposits in funds were fully protected.
5.February 6, 1928The Lawton ConstitutionLawton, OK
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THREE MIAMI BANKS FAIL; RUN STARTS
Seven Million In Cash Is Rushed to Aid of Florida Institution.
MIAMI, Fla., Feb. mil. lion dollars in cash will be sent the First National bank by the Federal Reserve Bank branch in Jacksonville by air and train to pay all depositors who wish to withdraw their funds, officials of the local institution announced this after: noon following an orderly run the bank growing out of the clos. ing of three other local financial institutions this morning.
Three Banks Close ami banks failed to open for busi. ness today. They were the South, ern Bank and Trust company, the Citizens Bank and the Bank of A1-
MIAMI REACTING FROM BANK RUNS Anonymous Letters Cause Withdrawals From Institutions Miami, Fla., Feb. 7 A cricles in this city today were reacting from the cumulative effects of "more than a Jozen" anonymous 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 a fourth institution. Meanwhile, police sought the mysterious author of an indeterminate number of letters mailed Jan. 28 in Miami, signed "Hiram," and adorned with a crudely drawn Masonic emblem. "Quietly get your money cut of the Southern Bank and Trust Company: it is going soon," these letters said, in varying language. but similar substances. Results of these missives today had included: Taking over of the Southern-Bank and Trust Company by State Comptroller Ernest Amos at the instance of bank officials. stimulated to this step by heavy withdrawals. Orders by Comptroller Amos that the Citizen's Bank and the Bank of Allapattah. small institutions. temporarity closed to avoid possible demanda of their resources. Run on 1st National. 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 today had prepared for their possible part in the emergency. increased supplies of currency had been 1equisitioned. Nearly all of them experienced slight withdrawal increases early yesterday, but several reported latter that deposits showed a. jump, the City National announcing a $400,000 boost. James H. Gilman, president of the Bank of Bay Biscayne, largest bank of the section, and next to the First National. most heavily beleaguered in yesterday's excitement. announeed: While withdrawals were numerous, due to unfounded rumors which caused temporary excitement. we have satisfied every demand and we have on hand and in transit sufficient funds to continue to do so." $7,000,000 Ready. President E. C. Romfh. of the 1st National Bank, declared that the Jacksonville branch of the Atlanta Federal Reserve Bank was answering his institution's call for $7,000.000 in funds to holster the cash rcserves, but said the institution would it. He characterized the run not as need a "temporary flurry attributable to other closings, which will diminish as people see the lack of need for withdrawing their funds." President J. E. Lummus, of the Southern Bank and Trust, held the mysterious letters responsible for the withdrawals that caused his institution to summon state aid and issued D statement which said the bank March 15. a would re-open While this r bank was capitalized at $100,000 it had deposits of $5,138,112. officials : said. Some of the anonymous letters addressed to persons not dei the Southern positors were at Bank and Trust Company. it was said. Chief I of Police H. Leslie Quigg was one recipient.
7.February 7, 1928The Morning CallAllentown, PA
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LETTERS RUN ON BANK
Miami, Fla., Institution, Forced to Suspend Others Affected
Miami, Feb. letters predicting the failure bank caused that suspend business today, sulted indirectly the temporary closing of two others, brought about fourth which called from federal in Jacksonville bolster its The but started noon the First National bank that Ernest Amos, comperoller, had taken affairs the Bank and and the Bank of Allapattah temporarily closed. Explaining he had taken control Bank and Trust instance ficials caused the of the letters, Amos said he ordered the other banks closed through fear they might able to He made for cool declaring the banks would have been able to remain open under normal conditions.
8.February 7, 1928The Miami NewsMiami, FL
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CONFIDENT TROUBLE heavy prompted with satisfactory plans shortly Burdine, Burlargest issued following statement Tuesday foolish lack confidence depositing Bank Trust that He fidence every knows expression confidence Lummus down in others. confidence and good citizens. back. believe and trust "FRANK COHEN." Both Citizens and the Allapattaken comptroller prevent strain result depositors their plans will approved officials. Investigation anonymous that started trouble with criminal promised writer following analysis Miami Tuesday "Several counsellor years called Minmi struck fact that few They unusual immediately obvious. Bank Bay Biscayne, total total demand rapidly tellers change. First National bank, posits reserve medately transfer the that this would tellers borrowed from the Reserve. National bank today. Bank Miami, York, Comfort Briggs Glenn advancing funds demand their the other equal point Street deposits
9.February 7, 1928The Brooklyn Daily TimesBrooklyn, NY
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SENT HIGH SCHOOL PROBE TO FLORIDA BANK PLANNED
First National of Miami Takes Precautions After Three Institutions Close.
Fla cash was being brought Miami today of of the of after banks closed their alight on the after the other banks had closed follow million hundred thousand dollars brought airplane Re ad ditional being that closed yes the Southern Company The au for the responsible the When Bank Trust failed to open its doors the Citi Bank of Miami and the Bank of At president of the Bank and Trust closed after the he the insti hands of Ernest probably be Shortly assuming control the condition to reopen for business March banks business under normal could not run curred AS of the tense South Bank and Trust pany was at and last night had posits of Citizens' Bank of Miami also capitalized at 480 the Bank of Allapattah had stock of of
Grand Jurors' Ass'n Names Committee Some Institutions Being on Double Time.
Grand members are of the Grand of that county has ap pointed to undertake an subject high school modations Queena The has called affects only the but the elementary pupila Not the borough high double but all the children of one the apportioned various schools to make for the classes It probable the of the Grand has the of Philip No. and of the Allied Associations of la member Grand Mr. Mc in the Ridgewood ergreen. Metropolitan for high school In Ridgewood recent Mr 900 children be loss said also that that Maspeth in on and those at the by Mr All 66 in Richmond has been for high school and the elementary class youngsters quotas schools of the the top floor of S. HID is exclusively for high chool purposes
10.February 7, 1928The Spokesman-ReviewSpokane, WA
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"VENGEFUL PEN" CLOSES BANKS
Anonymous Letters Cause Three Miami Houses to Shut Their Doors.
FOURTH IS HARD HIT
Run on Unaffected Bank Takes Out $350,000, but Storm IN Finally Weathered.
(P)-Anonypredicting the failure caused that institution here today, sulted the closing of brought about on fourth which called for from federal rebranch bank Jacksonville to bolster its cash reserves but started at noon on the First National bank, Erest Amos, state comptroller, had taken charge of the affairs of the Southern Bank and Trust company ordered the Citizens' bank and the Bank of Allapattah temporarily closed. Letters Caused Action. Explaining he had taken control at the Southern Bank and Trust company at the Instance of its officials because of withdrawals, caused by the of the letters, Amos said he ordered the other two banks closed through fear they might not be able to weather possible runs. He made plea for and public claring that the banks would have been able remain open under mal conditions the was felt in quarter when the run quietly was begun at the First National Until closing time the tellers were rapidly handing out depositor demandit, while officials of the institution mingled the spread was the lobby the holding about 250 persons, crowded beyond its
Plenty of Cash Due. Officials estimated that began with cash, about $350,000 was paid out the the bank closed the regular of officials nounced event the renewed would more than in cash and No other bank in the city was H. president the to outside and not any fault in Institutions or in territory president of the tonight federal had vetoed plan to send part of the cash here by of the money would be by train tonight and the remainder to.
11.February 7, 1928Petaluma Daily Morning CourierPetaluma, CA
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Lindbergh Is In Haiti
MILLION SENT "LONE EAGLE" TO SAVE TWO NEARS FINISH OTHER BANKS OF GOOD WILL FROM FAILURE TOUR AT HAITI
Failure Of Southern Bank
& Trust Co. One of The
Largest In State, Causes
Disastrous Runs On
Frenzied Enthusiastic
Crowd, Composed Of Wondering Half Naked
Banks Of Miami And Al-
Natives Greets Lindy At lapattah.
Port Au Prince.
Circulation Of Anonymous
Lindbergh's Flight To Port
Letters Attacking S. B.
& T. Caused An Unexpected Run On The Institution, President Lum-
Au Prince Was His Last
But One On His Good Will Tour To Pan
American Parley. mus Claims.
(By United Press)
MIAMI, Fla., Feb. million and a half dollars in cash was being rushed to Miami by airplane today to relieve a tense situation which developed when three banks closed this morning Failure of the Southern Bank & Trust Co., one of the largest in the state, to open for business caused runs on the Citizens Bank of Miami and the Bank of Allapattah which forced them to close a few hours later. The money was being brought by plane to the First National Bank of Miami from the Jacksonville branch of the Sixth Distriet Federal Reserve bank. The First National Bank of Miami suffered slight runs when the three banks closed and the money was being brought here to reassure depositors. E. C. Rofh. president of the First National, said his institution had felt no ill effects from the situation. Rofh said he was expecting another $5,500,000 to arrive by train Tuesday morning. The First National Bank had on hand $1,750,000 in cash this morning. and Rofh haid that the two shipments en route here will enable it to continue business easily.
J. E. Lummus. president of the Southern Bank and Trust Co., said circulation of annonymous letters attacking his bank had caused an unexpected run on the institution which resulted in its failure to open. Ernest Amos, state comptroller, took charge of the Southern Bank and Trust Company. Amos claimed its failure to open had caused runs on the Citizens Bank and the Bank of Allapattah. which they were not able to withstand.
PORT AU PRINCE Haiti, Feb. Chas. A Lindbergh landed at the S. marine flying field here at 1:51 p. m. today his last intermediate stopping place on his good will tour toward the Pan-American conference at Havana A frenziedly enthusiastic crowd. the most incongruous of his long flight. awaited the fliers. American marines in occupation here. mingled with officials and wondering natives from the interior-some of them from districts where the dread secret voodoo magic is not only believed in but practiced.
12.February 8, 1928The Brooklyn CitizenBrooklyn, NY
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RESERVES OF MIAMI BANKS EASE TENSION
Three Banks Forced to Close by Sudden Run Will Reopen
MIAMI, Fla., Feb. 8 (United Prese). police sought the mysterious note writer, who warned against depositing money in several Miami banks and thereby caused runs that forced three to close, other banks to-day reported the tense financial situation had eased. There were some withdrawals from the Bank of Biscayne but officials said that these were by "penny savers with small accounts and that their reserve was in excellent shape. Officials of the First National Bank who had more than six million dollars brought in from the Federal Reserve Bank at Jacksonville-sa their ac counts were in excellent shape They said the crowd in the lobby yesterday was no greater than at any other day of a mid-season rush and there probably would be no need of the additional cash brought in. The Southern Bank and Trust Com pany had closed Monday after notes signed "Hiram" had been passed around. warning of the bank's condition. Runs forced the Citizens' Bank of Miami and the Bank of Allapattah to close. All three institutions were taken over by the State Benking Department. and the Southern Bank probably will be 10. opened about March 15. State exam iners said the Citizens' Bank and the Bank of Allapattah were in good shape. but in no condition to stand a run.
13.February 8, 1928The Brooklyn Daily TimesBrooklyn, NY
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BANKS IN FLORIDA WEATHER CRISIS
Police Seek Man Wrote Notes Closed Three Institutions.
Miami. Fla., Feb. police sought the mysterlous writer. warned against depositing money in several Miami banks and thereby caused runs that forced them close. other banks today ported tense financial situation had eased There were some withdrawals Bank but ficials said these were "penny and that their reserve in excelshape Officials the First National Bank had more than from Federal their accounts were in excellent The Southern Bank and Trust Company had closed Monday after notes signed "Hiram, had been passed around, warning the condition. Runs forced Citizens Bank Miami Bank Allapattah to close.
14.February 8, 1928The Brooklyn Daily TimesBrooklyn, NY
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BANKS IN FLORIDA WEATHER CRISIS
Police Seek Man Wrote Notes Closed Three Institutions. police sought mysterious writer. warned against money several Miami banks and thereby caused that forced them close, other banks today ported the tense financial situation There some from Bank Biscayne. but ficials that these were "penny with small and that their reserve shape Officials the First National brought in the Federal Reserve Bank at their accounts in excellent The Bank and Trust Company had closed Monday after notes signed "Hiram," had been passed warning of the bank's Runs forced Citizens Miami and Bank Allapattah close
15.February 8, 1928The Brooklyn Daily TimesBrooklyn, NY
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BANKS IN FLORIDA WEATHER CRISIS
Police Seek Man Wrote Notes Closed Three Institutions. Miami, Feb. police sought mysterious note writer, warned against depositing money in Miami banks and thereby caused runs that forced them close, other banks today ported the tense financial situation eased. There withdrawals Bank Biscayne, but ficials that these were their reserve was in excelOfficials the First National more brought from Federal Reserve their accounts in excellent The Southern Bank and Trust closed Monday after notes signed passed around. warning bank's condition. Runs forced Citizens Bank Bank to close.
16.February 8, 1928Sapulpa HeraldSapulpa, OK
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RUNS ON BANK MADE
MIAMI. Fla., Feb. 8.-(LP)-Runs on the Miami banks followed the closing of three on Monday, appeared definitely over today. At 10 a. m., not a single account withdrawal was reported by the First National Bank of Miami or the Bank of Bay iscayne. two institutions that rushed $6,000,000 in gold from Jack sonville yesterday to meet possible demands.
17.February 10, 1928The American GuardianOklahoma City, OK
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Letter Predicting Failure Starts Run banks their and fourth the throes on it the result of ure of the National here. The run started on the First tional Bank following word Ernest Amos, affairs Southern Bank and Trust ordered the Bank Bank Allapattah temporarily closed. Explaining he had taken control the and Trust the of its Company ficials because of by the circulation Amos said anonymous ordered the they might not through fear weather possible National with The First of from the several millions Federal Reserve was
