2326. Bank of Delray (Delray Beach, FL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 14, 1927
Location
Delray Beach, Florida (26.461, -80.073)

Metadata

Model
gpt-5-mini
Short Digest
6b5728c6

Response Measures

None

Description

Articles (dated March 14–15, 1927) report the Delray bank 'did not open' and that the state bank examiner (T. C. Hawkins) 'assumed charge' of the Delray institution. The action is described as tied to closings/runs at nearby Palm Beach County banks (contagion from other local bank failures). No article indicates the Delray bank reopened, and the examiner taking charge implies government intervention and likely permanent closure/receivership. I therefore classify this as a suspension leading to closure. Bank name appears also as 'Bank of Del Ray' in some OCR variants; corrected to Bank of Delray for consistency.

Events (1)

1. March 14, 1927 Suspension
Cause
Local Banks
Cause Details
Closings of other Palm Beach County banks and runs in nearby West Palm Beach precipitated Delray's failure to open; action appears driven by contagion from other local bank failures and runs in the county.
Newspaper Excerpt
T. C. Hawkins, state bank examiner, assumed charge of the Delray institution. The Delray bank did not open this morning.
Source
newspapers

Newspaper Articles (5)

Article from The Record, March 14, 1927

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Article Text

Three More Banks in Palm Beach County Fail to Open For Business This Morning Long Line of Men and Women Brave Rain to Start Run on Another Bank, Which May Also Force Closing. (By Associated Press.) West Palm Three Palm Beach County banks failed open their doors while another local sought to stave off severe run. Bank Trust West largest banks this did not open today night by its president, that the closing Tuesday had precipitated the the First National Bank Worth and the Bank Delray did open reasons assumed charge Delray tution. The Lake Worth that city without Delray bank was capitalized and the Worth statements published July, long line of and women braved pelting. Intermittent rain this morning Bank of West Palm crowd started forming hour usual opening time was augmented the reports that Bank had not opened. Mild friends of the sought to talk with person line attempt to influence all against withdrawal of were circulated that an truck financial aid from Miami Officials and of the zens Bank been session all the run this morning with assuring the positors funds had and the not close believe that the successful ordeal will factor the Citizens Bank with the Farmers week ered determined runs.


Article from Nashville Banner, March 14, 1927

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Article Text

THREE OF FLORIDA'S BANKS CLOSE DOORS Delray, Lakeworth and West Palm Beach the Points Affected to Its & of ness this city and funds and of one had throng in the "Generally Good.' the national national in


Article from The Lincoln Star, March 14, 1927

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Article Text

THREE BANKS IN FLORIDA CLOSED Trio of Palm Beach Institutions Fail to Open Doors and other Seeks Stave Off Run. WEST PALM BEACH. March Beach county banks failed to open their doors today another local nº nancial Institution sought to stave off severe The Farmers Bank & Trust of West Palm Beach, one of largest banks in this did not open today following midnight announcement by Reese, president, that the closing of two local banks Beach bank last Tuesday had precipitated the action. the First National bank of Lakeworth. the Ocean City bank of Delray did not open this No reasons for their separate actions were made public. T. C. Hawkins, state bank examiner. assumed charge of the Delray institution. The closing Lakeworth left that city without a bank The Delray bank was capitalized at $25,000, with deposits aggregating and the Lakeworth bank had capital of $100,000 and deposits $2,622,690. their last statements published in July 1926 showed. Run is Started. long line of then and women braved pelting. intermittent rain here this morning in run on the Citizens bank of West Palm Beach. sizeable crowd started forming an hour before its usual opening time and was augmented by reports that the Farmers bank had not opened. The line stretched solid almost block on Clements street and on Narcissus street half block. Mild excitement prevailed, while friends of the bank sought to talk with persons line in an attempt to influence all against withdrawal of funds. The line remained intact, although hard showers dispersed curious which threatened at times to jam traffic at this interReports were circulated that an truck was here with substantial financial aid from Miami banks Officials and directors of the Citizens bank, who been in sesall met the run this sion morning with statement assuring the depositors that sufficient funds had been obtained to pay every one and that the bank "would not close or The Citizens bank. together with the Farmers bank. last week weathered determined runs.


Article from The Fresno Bee, March 14, 1927

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Article Text

Tribe Chief Dons BANKS Uruguayan Flier FORCED TO CLOSE At Athletic Meet State Examiner Takes Charge; Another Institution Faces Severe 'Run' ONE RECENTLY ERECTED MILLION DOLLAR BUILDING Three Remain Open Of Ten One Year Ago Near West Palm Beach (By The Associated Press) WEST PALM BEACH (Fla.) March 14-Three Palm Beach County banks failed to open their doors to-day, while another local financial institution sought to stave off run. The Farmers' Bank and Trust West Palm Beach, one the in this section did to-day midnight by Reese, its president that the closBeach bank last Tuesday had precipitated the First Na tional Bank of Worth and the Bank of Del Ray did open this morning. No reasons their separate actions were made public Hawkins, state bank examiner, assumed of the Del institution Lake Worth left that city with bank The Del Ray bank was capitalized deposits aggregat ing and the Lake bank had capital of $100,000 and in published in July, Depositors Brave Rain and braved pelting. rain here this morning in determined on the Citizens' Bank of West Palm Beach sizeable crowd started forming an hour usual opening time and was by reports that the Farmers' had The line stretched solld almost block on Clementis Street and Narcissus Street half block Mild excitement prevailed, while friends sought each person line attempt influence all against withdrawal of funds Armored Truck On Way! The though hard shower dispersed which threatened at times to Jam traffic at this InterReports circulated that truck here substantial aid from Miami Officials and directors of the Citizens Bank had been in session all night met the run this (Continued on Page Col 3) (By The Associated Press) ARIS, March in the P silk pajamas of Major Tedeo flier, the chief of the Moroc. tribesmen, captured him and his three companions, sat referee feats boxing his follow awarded as prizes to win trinkets taken from the cap Not NO. however. with the money the gold. silver and bank But he was the checkbook Larre Borges. He tore checks and distributed them among Dispatches from the Spanish camp arrived from Cape Jubl their experiences their plane attempted flight from African Coast wrecked, 300 yards Loot Everything The sprang looting the and the plane began The all the money and trinkets the Uruguayans had they ripped open the shoes in hope of finding The plane was washed the tribesmen fell upon the batteries contained the tribesmen deavored to open them. For his pains, received severe electrical When looting ended. the and almost captives walked desert for three days When journey ended at Can sado, the captives able in the Spanish commandant the terms of the tribesmen for their re lease. Shoot At Airplanes While on the march, searching for captives The Uruguay on the backs of camels. When trek started, the aviators brief experience with riding them prefer walking. of pesetas was paid the Moors for the the hopes for new plane in which to make another attempt fly across the Atlantic to South America.


Article from The Cincinnati Enquirer, March 15, 1927

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Article Text

THREE BANKS Added To Florida List. Runs in West Palm Beach Cause Further Closings. Officials of One Institution Say They Will Weather Others Remain Open. DISPATCH THE ENQUIRER West Palm Fla. March With three more Beach County banks closed today officials of the Citizens' Bank of West Palm Beach making determined fight off the run which threatened that institution today o'clock the had leaving only within the before the tellers' The which stretched disappeared only throng of curious mained. Arrival from Miami noon of armored truck with sacks of currency the Bank promptthe announcement that the would remain open until o'clock tomight pay off depositors. The three which failed open doors today the Farmers' and Trust the Bank of that banking facilities, Bank Delray. Two banks and are not suffering are the Farmers' Trust the National Bank West Beach Winter Lend Support. Farmers' which closed the leading financial this the week. prominent winter came rescue and said they would not deposits. Among Colonel Brad said had $250,000 Charles Myers. Atlantic City admitted he had the support the Bank Anthony Drexel Biddle. Philadelphia: John Phipps Hutton. Hutton New Edward of the York Trust Comhead the Bader Securities Company New York: New York, financier owner: Kaufman, PresiChatham Phoenix National Bank, Davies Warfield. President the Seaboard building of Butler President the Butler Paper Mesker of Ind today by of the Farmers' Statement Explains Closing. been forced to The closing the can Bank and Trust the and Trust together the First Bank and Palm Beach, this action within and within days We had and weathered the Tuesday and the Three days bank might have passed through Mr. Reese that the bank had received offers sistance, but had had tain collateral. will lose penny," he said Total the bank given $10,500,000. capital $100,000 plus undivided profits $950.000. Little than ago the erected building costing approximately board directors the Citizens' Bank of West Beach, official statement, Bank going arranged for cash off deposits the Citizens We appreciate present unrest there some our but we of this can immediately in the through has grown early lishment of confidence County money which the Farmers' declared because the funds are by municipal depository