2186. Bank of Waldo (Waldo, FL)

Bank Information

Episode Type
Run → Suspension → Unsure
Bank Type
state
Start Date
July 22, 1929
Location
Waldo, Florida (29.790, -82.167)

Metadata

Model
gpt-5-mini
Short Digest
aeaf6e3aa0d56e46

Response Measures

None

Description

Multiple articles (dated July 23, 1929) report heavy runs on the Bank of Waldo leading to its suspension/closing and state examiner involvement. Causes are attributed to popular nervousness stemming from many other Florida bank failures in mid-July 1929. Some local reporting called the closing 'temporary' and expected reopening, but no definitive evidence of reopening appears in these articles, so outcome is unsure.

Events (2)
1. July 22, 1929 Run
Cause
Local Banks
Cause Details
Runs attributed to popular nervousness after about 26 other Florida banks closed in the prior fortnight
Measures
No specific remedial measures cited besides involvement of the Florida state bank examiner and expectation of 'straightening out the affairs'
Newspaper Excerpt
closed its doors after heavy runs
Source
newspapers
2. July 23, 1929 Suspension
Cause
Local Banks
Cause Details
Suspension followed heavy withdrawals and general bank-nervousness arising from multiple other Florida bank closures in mid-July 1929
Newspaper Excerpt
The Bank of Waldo, Florida, suspended operations yesterday, the State banking department was advised.
Source
newspapers

Newspaper Articles (5)
1. July 23, 1929 The Anniston Star Anniston, AL
Article from The Anniston Star, July 23, 1929

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Article Text

Waldo, Fla., Bank Closes Its Doors Florida state bank examiner was here today to straighten out the affairs of the Bank of Waldo which closed its doors after heavy runs The bank was small institution headed by E. W. The Milligan. runs which resulted in the attributed, to popular nervousness which developed when 26 other banks in Florida closed in the last fortnight. Waldo is not situated in the Florida citrus belt and the unusual economic conditions growing out stringent federal to dicate the fruit responsible for the failure the bank

2. July 23, 1929 Star Tribune Minneapolis, MN
Article from Star Tribune, July 23, 1929

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Article Text

Grain Trade Notes Chicago, July 22.-(By Associated W. Kinyon wires J. Bache & from Bismarek N. D.: "From Regina, Sask., to Moosejaw and summer fallow wheat still holds its color. all headed with fair heads Berry in milk stage, Stand light far. Large cent of other plowed up. Balfired. With rain might make to bushel from Wey burn to Portal, N. D., per cent of fired in fields grows smallLocal helping to mature crop and summer fallow wheat promises fair crop. Portal to Minot, N. D., crop improved. At Minot wheat good stand and length. Kernel going into dough stage. Promises average of 12 bushels with rain. Crop averages about the same to Washburn. South from there crop deteriorates and many partly fired fields here. Stand and length runs from poor to fair Heads fired spots filled and kernel in dough. With rain promises to 8 bushels. Rye promises fair crop Cutting starts in week H. Donovan of Logan & Bryan wires from Portage, Man.: "Conditions Manitoba are but little better than seen in other provinces. The wheat crop is some later and fairly good rains fell Friday night over most of the prov. Ince with more today which halt damage to fallow wheat, but came too late in stubble portion. Found traces of black rust at Brandon. Carberry and here but as yet promise serious. There is but very little wheat rank sappy enough for rust to develop in its worst form. Liverpool wheat is due 3% to 4d higher based on action of the cago market today. Open Interest in grain futures on the Chicago board of trade wheat Saturday 186,026,000 bushels: Friday 181,114,000; week ago 160,005,000. Corn. Saturday. 47,739,000 bushels: Friday, 48,705,000; week 48,256,000. Another Florida Bank Fails. Tallahassee, Fla., July Associated Press.)-The Bank Waldo. at Waldo. Fla., suspended operations today. the state banking department was advised. The bank had capital and surplus of $25,000, deposits of $126,198.77, and total as sets of $163,750.37. It was the bank failure in the state since July

3. July 23, 1929 Evening Star Washington, DC
Article from Evening Star, July 23, 1929

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Article Text

Another Florida Bank Fails. TALLAHASSEE. Fla., July 23 (P).The Bank of Waldo, Florida, suspended operations yesterday, the State banking department was advised. The bank had a capital and surplus of $25,000, deposits $126,198.77 and total assets of $163,750.37. It was the twenty-seventh bank failure in the State since July 4.

4. July 23, 1929 Chicago Tribune Chicago, IL
Article from Chicago Tribune, July 23, 1929

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Article Text

27 Banks Close Doors in Florida in 18 Days bank of Waldo, Fla., suspended operations today, the state banking department was advised. The bank had capital and surplus of $25,000, deposits, $126,198.77 and total assets of It was the 27th bank fail. ure in the state since July

5. July 23, 1929 The Knoxville News-Sentinel Knoxville, TN
Article from The Knoxville News-Sentinel, July 23, 1929

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Article Text

GRADUATE BANK CLOSES Summer Students to Get Diplomas August 9. Without speeches, and gowns eight pupils High be August the summer school. The pupils those who needonly credit for graduation and went school took subject rather than spend another term in school. In addition from out of town high schools who tending will awarded diplomas by their schools. The graduates are: Johnson George Another Florida Institution Feels Pressure. United WALDO, Florida state bank examiner was here today to straighten out affairs of the Bank of Waldo which closed its doors after heavy runs. The bank small institution headed by W. Milligan. The runs which resulted in the closing were attributed to popular nervousness which developed when other banks Florida closed in the last fortnight. Waldo not Alabama citrus belt and the unusual economic conditions growing out of the Mediterranean fruit plague not responsible for the failCity officials said the closing "temporary," and the bank expected to reopen with-