Article Text
Two Clearwater Banks Turned Over to State CLEARWATER Fla., June 10 tions. the Bank of Clearwater and the Guaranty Title and Trust comto open for business here this The First National and the
2297. Bank of Clearwater (Clearwater, FL)
Bank Information
- Episode Type
- Suspension → Reopening
- Bank Type
- state
- Start Date
- June 12, 1930
- Location
- Clearwater, Florida (27.966, -82.800)
Metadata
- Model
- gpt-5-mini
- Short Digest
a2444255
Response Measures
None
Description
Multiple June 12, 1930 newspapers report the Bank of Clearwater closed their doors/failed to open and was turned over to the state (state banking department). Later reporting (July 17, 1930) describes stockholders assessing 100% and sets a schedule for reopening/payments to depositors in January 1931, indicating a suspension with intent/plan to reopen. The articles mention runs affecting other Florida banks and unfavorable talk, but there is no clear, specific description of a discrete depositor run on the Bank of Clearwater itself; the action appears to be a state suspension/closing with planned reopening.
Events (2)
1.
June 12, 1930
Suspension
- Cause
- Government Action
- Cause Details
- Bank was turned over to the state banking department / failed to open and was taken into state control to protect depositors.
- Newspaper Excerpt
- The Bank of Clearwater ... closed their doors today
- Source
- newspapers
2.
January 1, 1931*
Reopening
- Newspaper Excerpt
- Date for reopening of the Bank of Clearwater will depend upon the promptness with which the stockholders pay 100 per cent assessment ... first payment to the depositors will [be] made ... January 1931
- Source
- newspapers
Newspaper Articles (13)
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MORE CLOSED Tla., June 12. The bank of Clearwater, capitalized at $250,000 and the Guaranty Title and Trust Company, smaller institution, also of Clearwater, closed their doors today, bringing 12 the number of recent bank closures in Florida. Clearwater is on the Florida West Coast, near Tampa.
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$2,000,000 TO AID FIVE MIAMI BANKS Bankers Confident Normalcy Will Soon Be Restered. Miami, Fla., June 12. (U.P.)-The arrival of $2,000,000 in cash by airplane and several reassuring statements by State Banking officers helped today to allay the uneasiness of depositors who had funds in five banks which closed here yesterday. One of the banking officials insisted the situation was not acute, and declared that the condition which led to the closures would have adjusted themselves if there had not been unfavorable "talk," some of it by bankers themselves. The banks which closed were the Bank of Bay Biscayne, with resources of $17,182,292; the Biscayne Trust Company, with $1,962,148: the Miami Beach Bank and Trust Company, with $2,593,281; the Bank of Coral Gables, with $743,759. and the Bank of Homestead. Local bankers said they were confident normalcy would be restored promptly when the public understood the cause of the heavy run made on the Institutions. They had the assurance of additional aid from the Federal Reserve if it were needed, they said. Two More Banks Close. Miami, Fla., June 12. (U.P.)-The Bank of Clearwater, capitalized at $250,000 and the Guaranty Title and Trust Company, smaller institution. also of Clearwater. closed their doors today, bringing to 12 the number of recent bank closures in Florida. Clearwater is on the Florida west coast, near Tampa. Attended Graduation. Mr. and Mrs John Breslin, Misses Alice and Margaret Breslin. Joseph Breslin and P. J. Rattigan returned from Washington, D. C., where they attended the graduation exercises of the Georgetown Medical College John Brealin. Jr., was one' of the graduates receiving the Bachelor of Science degree in medicine.
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PLANE CARRIES AID 5 BANKS Fla., June Bank of Clearwater, capitalized $250,000, and the Guaranty Title and Trust Company, a smaller stitution, also of closed their doors today, bringing to twelve the number of recent bank in Florida. Clearwater is on the Florida west near Tampa. MIAMI, Fla., June are $2,000,000 in cash by airplane and several reassuring statements state banking officers helped today to allay the uneasines depositors who had funds in five banks which closed here yesThe banks which closed were the Bank of Bay Biscayne, with resources of $17,182,292; the Biscayne Trust Company, with the Miami Beach Bank and Trust Company, with $2,593,the Bank of Coral Gables, with $743,759, and the Bank of Homestead Local bankers said they were confident normalcy would stored when the public understood the cause of the heavy run made on the institutions. They had the of from the Federal Reserve were needed, they said.
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MONEY FLOWS IN FIRE LOSS IS HEAVY REGISTERED QUAKE Refineries of Texas Oil Company Are In Flames PORT ARTHUR. Tex., June 12.the refineries the Texas Company near here billows of sending flame and feet of the air and taking toll of life property. Starting undeterminer origin the plant, fire destroyed refining unit and vastated an eight blocks square Damage estimated at between $3,000,000. Hatch, died in hospital here today from burns when tanks of and exploded in the terrific heat. Eleven other were burned when flaming oil and for pitals. Another slight bruises. Physicians all the injured The fire started in of the one treating units, where, oil treated by chemicals, spread quickly to nearby structures. Employes were unable escape before the three tanks exploded. As uninjured employes clothing of the fire spread to the huge The oil-soaked ground and buildings caught fire easily, and the blaze spread 80 fast that feremen could not cope 200 feet away from the Employes and officials alike labored construct fire breaks keep the flames from spreading. was thought they had fire to the unit in which Damage to the refinery was mated K. Holmes, plant superintendent. An engineer the company that the loss might mount as high as before the The pumphouse, fertilizer plant, three tanks of oil and gasoline and six batteries of treating units were destroyed. Disturbance Believed Not Far From Puget Sound hour duration, which at 1:51 and was 'not far was described today seismoregistered graphs at the University of Washington. THREE SHOCKS REGISTERED earthquake were registered the St. Louis university today on Father Joseph Joliet The disturbances about miles distant. first 1,140 few The second. lasted 45 minutes third short. All the were of medium intensity. Rush On Southern Florida Banks Believed at End MIAMI. Fla., June arrival $2,000,000 in cash The airplane and several reassuring state banking offistatements by cers helped allay the of depositors funds in which yesterday. In addition the plane ship$4,000,000 was expected by rail today to aid in restoring confidence. One the banking officials inthe situation not that conditions which closures would have adjusted themselves there had not unfavorable "talk," bankers The closed were the Bank Biscayne, with resources of the Biscayne Trust Company, with and Miami Beach Bank and Bank Coral Gables, with and the Bank of Homestead. Local bankers said they were confident be stored the public the the heavy made the institutions. They the assurance of additional aid from the federal reserve if it were needed, they said. FAIL TO OPEN Fla., June small financial instituthe Bank of Clearwater Guaranty Title Trust failed today. Notices pany. stated the had been asked to take charge to protect depositors.
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MIAMI RECEIVES MONEY BY PLANE $2,000,000 Rushed to City Where Five Banks Closed. By United Press MIAMI, Fla.-The arrival of $2,000,000 in cash by airplane and several reassuring statements by state banking officers helped today to allay the uneasiness of depositors who had funds +n five banks which closed yesterday. One of the banking officials insisted the situation was not acute, and declares the conditions which led to closures would have adjusted themselves if there had not been unfavorable "talk," some of it by bankers themselves. It was said today that an additional $4,000,000 was being rushed Into the Miami district by mail. It will arrive this afterThe banks which closed were the Bank of Bay Biscayne, with resources of $17,182,292; the Biscayne Trust Co., with $1,962,148; the Miami Beach Bank & Trust Co., with $2,593,281; the Bank of Coral Gables, with $743,759, and the Bank of Homestead. Local bankers said they were confident normality would be restored promptly when the public understood the cause of the heavy run made on the institutions. They had the assurance of additional aid from the Federal Reserve if it were needed, they said. CLEARWATER BANK FAILS By United Press Bank of Clearwater, capitalized at $250,000 and the Guaranty Title and Trust Company, smaller institution, also of Clearwater, went into the hands of the state banking department today and closed their doors.
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TWO OTHER FLA. BANKS CLOSE (I. N. S. Telegram) CLEARWATER, Florida, June 12.-Two small banks, the Bank of Clearwater and the Guaranty Title and Trust Company, failed to open here this morning. There are no heavy runs on other banks here.
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RIGHT OFF THE WIRE. Sticks To Oxen Calicoon, June general beasts burin this section was disearded years Jacob Dreher. farmer Beechwoods, still prefers them to horses. he they are Electricity In Japan Tokyo, June by electricity has strong hold on Japcountry many economic conditions have been unchanged for hundreds years. conductby the government shows electric light bulbs the of 1929. Tokyo led the of users, with 105 bulbs per 100 Treasury Balance. Washington, June The treasJune Customs receipts for the month that date totaled expenditures Attempted Jail Break. June tempted break county jail here when Martin bor, made attempts escape from prisons various of the was prehended Warden Tablor from the county jail August, 1925, by gling through window five three fourths inches He had brought year term for burglary term years for mail robbery the McNeil Island federal penitenWashington. had been watching for weeks after finding cell. placed itary confinement today. Banks Close Doors. Miami, June The Bank Clearwater, Guaranty Title and $250,000 and the Trust Company, smaller Clearwater, closed their doors also today, bringing twelve the number recent bank closures Florida. Clearwater the Florida coast, Tampa. banks closed yesteday the Bank of Bay Biscayne, of the Biscayne the Trust Beach and Trust Miami the Bank pany, and the Coral Gables, with Homestead. bankers said when the public promptly heavy run made the the They had the institution. from the fedadditional needed. they reserve Voluntary Bankruptcy. June 12(LP)Mount Rock trading the Knepp. Ideal Block blocks, filed ufacturers cement bankruptcy voluntary petition here listing Federal Court and bilities estate valued Real Knepp agreed in the assets, surrender proppetition benefit of his for the Commitee Wants Papers. June Foreign Relations today by vote adopted right resolution asserting Naval Conference London been refused the which committee President Hoover. Chairman Borah the the committee to Mr. Hover and Secretary Stimson through whom State former's refusal produce the papers known the committee. resolution will be presented the Senate for action expression opinion. Lingle Buried. Chicago, June Lingle, by men he had followed for police was years buried with military honors today while civil authorities sent expert out end, with bullets, the gang which have claimed lives. The funeral procession through Garfield Park the West Side from the bureau that the hoodlum roundup of the last hours had behind jail
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CASH STRENGTHENS FLORIDA BANK SITUATION Unfavorable Talk Is Blamed For Runs That Caused Five Banks To Close Miami, Florida, June 12 Bank of Clearwater, capitalized at $250,000, and the Guaranty Title and Trust Company, smaller institution, also of Clearwater, Florida, closed Thursday bringing to twelve the number of recent bank closures in Florida. Miami, Florida, June arrival of two million dollars in cash by airplane and several reassuring statements by state banking officers helped Thursday to allay the uneasiness of depositors who had funds in five banks which closed here Wednesday. One of the banking officials insisted the situation was not acute and declared that the condition which led to the closings would have adjusted themselves there had not been unfavorable "talk," some of it by the bankers themselves. Local bankers said they were confident normalwould be restored promptly when the public understood cause of the heavy run made on the institutions. They had assurance of additional aid from the federal reserve, if It were needed, they said.
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$2,000,000 IN CASH IS SENT IN PLANE TO MIAMI BANKS One of the Most Valuable Shipments Ever to Go by Air Mail A gold plane of the Candler Air Transport Field rose into the morning and headed Thursday of the most valuable carried by an the being dispatched Federal serve banks the Reserve in Miami doubtful if emmle load that capacity of the Federal Postal extra ment istered United regular The shortly in Miami The although to The was part 000 bank and during Miami water of the Federal money was bers them member train Spe cases pouches the destination of the panied downtown in truck The the plane or robbed transport responsible Bank age of $15,000,000 ments few are of than by vana Cuba were required of currency branch the Atlanta occasion enabling financial had the entire German Bonds and Stock NEW YORK market Bonds Loan .000 Loan Rm German marks of Dresdner E Farben Karstad AUSTRIA Aus Mercurbank EUROPEAN INTERNAL French Midi 1.000 Roy 1,000 Bank of Clearwater Title and open for morning and the Peoples Bank usual there heavy withdrawals
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MORE FLORIDA BANKS SUSPEND THURS. Total Closures Recently Reach 12; Rush Money to Institions by Air Route Miami, Fla., June 14.-The Bank of Clearwater, capitalized at $250,000. and the Guaranty Title and Trust Co., a smaller institution, also of Clearwater, closed Thursday, bringing to 12 the recent bank suspensions in Florida. Clearwater is on the Florida west coast, near Tampa. Arrival in Miami of $2,006,000 by airplane and several reassuring statements by state banking officers helped Thursday to allay the uneasiness of depositors who had funds in five banks which closed here Wednesday. In addition to the plane shipment, $4,000,000 was expected by rail to aid in restoring confidence. The banks which closed were the Bank of Bay Biscayne, $17,182,292 resources; Biscayne Beach Bank and Trust Co., $2,593,281; Bank of Coral Gables, $753,759, and the Bank of Homestead.
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Stockholders Are Ordered To Pay Up July 17. Date for reopening of the Bank of Clearwater will depend upon the promptness with which the stockholders pay 100 per cent assessment of the stock, voted yesterday by the stockholders. The meeting was attended by about 95 persons, representing 80 per cent of the total number of stockholders. The first payment to the depositors will made, according the requirements set forth by the state comptroller, on nuary 1931, not less than 10 per The money now to be paid in by the stockholders due to their 100 per cent assessment may be used working capital to Jan. but at least 10 cent, and more if possible, must be used for the payment of the depositors. The payment to the depositors that time may also increased the bank' collections from notes due will justify an increased payment.
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TWO OTHER FLA. BANKS CLOSE (I. N. S. Telegram) CLEARWATER, Florida, June 12.-Two small banks, the Bank of Clearwater and the Guaranty Title and Trust Company, failed to open here this morning. There are no heavy runs on other banks here.