c4a53d7fAccommodated withdrawals, Borrowed from banks or large institutions, Public signal of financial health
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Bank of Hollywood Weathers Run on Funds Daily News) July Bank of Hollywood weathered a determined run today which began at m. and lasted until after noon. After every patron seeking withdrawal of funds had been served, J. L. Bowie, vice president, issued a statement say-
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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
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DOORS Closed By Four Banks In Suburbs of Miami. Fla., in Face of Runs. Fifth Institution Weathers Heavy Withdrawals of Funds-Out side Loans Are Blamed local banks suspended operations. institution at Dania closed its and Hollywood bank withdrawal of weathered heavy today The Bank of Cocoanut Glove and the Bank of Buena Vista for business the Bank of open and Little River closed after of an hour. The Bank short suffered lar funds and ceased before noon At operations shortly the same time the Bank of Holly short distance north of also Broward with this city brief of Buena Vista and the The Bank allied of made the following Working on the for business in cause by its and depositors to the fullest Local citizens now are work and announce the on details few locally and to the liquidation The bank of Buena October 19. capital stock had been raised to The officers in of Jacksonville and President Officials declined to nounce the present The bank Grove with $15,000 March 10 the bank cap italization of and deposits to R. Anthony head taling the Board Directors with A. Sanders as The bank of Little River through the circumstances we felt advisable and suspend operations for present The sound and We excess in in in vaults and than per think the He intimated his of of the after that readjustment be made that would the bank reopen and all The run of precipitated of the bank but was previous the receipts of funds met through Miami The run subsided shortly President George of Miami commenting declared that three control and loans on outside responsible for the paper solely were
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BANKS CLOSE: SURVIVES Institutions in Miami Suburbs Suspend; One at Hollywood Has Withdrawals. HOPE TO REOPEN LATER Miami, Fla., July Three local banks suspended operations, financial institution Dania closed its doors and Hollywood bank weathered heavy funds today. The Bank Coconut Grove and the Bank Buena Vista failed open for business and the Bank Little closed after run hour's duration. The Bank Dania, short from Miami, suffered similar funds ceased shortbefore the time the Bank of short distance of this in Browcounty, withstood brief run. The Bank Buena Vista the Bank of Coconut Grove, allied stitutions, made the following announcement has decided to suspend for the and will therefore open for business day. actuated in this cause by desire to conserve its resources and to protect its depositors to the fullest extent. Local citizens now are working on plan and will announce details in few days to ganize locally controlled institution for speedy liquidation and to the situation. The Bank of Little River, through Teed the feel desirable and advisable to suspend operations for the present. The bank is and in good shape. in of cash our and per not think the depositors dollar. He intimated his intention effecting early reorganization. President Parker, the Bank of Dania, announced immediately after closing that readjustment would be made that would enable the bank reopen shorthly and meet all obligations. The run the Bank of Hollywood was precipitated after receipt news the previous bank closings, but met through the receipts funds from Miami banks. The run subsided shortly after noon.
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LORIDA BANKS STOP OPERATION Three in Miami-Run on Hollywood InstitutionBlame Loans. MIAMI, Fla., July Three local operations. financial institution at Dania closed its doors and a Hollywood weath heavy withdrawal of funds today The Bank of Cocoanut Grove and the Bank of Buena Vista falled to open for and the Bank of Little after an hour's duration The Bank of Dania, short distance Miami suffered similar withdrawal of funds and ceased operations shortly before noon At the same the Bank of Hollywood also short distance north this in Broward county, withstood a brief run. MAKE ANNOUNCE The Bank of Buena Vista and the Bank of Cocoanut Grove allied institutions, made the following separate an"The bank has decided to suspend operations for the and will therefore, not open for today It is actuated in this cause by desire to its and to protect its to the fullest extent. Local citizens now are working on plan and will announce the details in few days to organize locally controlled institution for speedy liquidation and to relieve the situa- The Bank of Buena Vista opened on capital stock of $15,000. had been raised to The officers include R. Anthony of president and John Grife vice Officials declined to announce present deposits for either The Bank March 1920. with $15,000 capital On March 10 the bank capitalizati of and deposits totaling the board of directors with A. Sanders president The Bank of Little River, through President B. Teed we feel It advisable And designble to oper ation for the present The bank is sound and good shape. We have in excess of $200,000 in cash in our vaults and a reserve than 40 per cent. do think the depositors will lose EXPECT He intimated his intention of effecting an early reorganization President I. T. Parker of the Bank of Dania announced after closing that readjustment would be made that would enable the bank to reopen short and meet all obligations. The run the Bank of wood was fter receipt news of the bank closings, but was met through the receipt of funds from Miami The run subsided shortafter President George the Miami House in the of suburban that control and loss on outside paper solely were responsible for the embar
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Three Banks Of Miami Close As Result Of Runs Hollywood Institution Withstands Run-Declared In Good Condition. DEPOSITORS NOT TO LOSE July suspended local financial institution at Dania clos. ed its doors and Hollywood bank weathered heavy withdrawal of funds today. The Bank of Cocoanut Grove, and the Bank of Buena failed open for the Bank of Little River run of an hour. The Bank of Dania. short distance from suffered similar withdrawal of funds and ceased operations shortly before noon. At the same time the Bank of Holls wood. also short distance north of this city. withstood a brief run. MAKE STATEMENTS The Bank of Buena the Bank of Cocoanut allied institutions. made the following sep. arate "The banks has decided to suspend operations for the present and will therefore, open for business today It is actuated in this cause by desire its and to protect its depositors to the fullest extent. Local citizens now are working plan and announce the details few days to organize locally controlled Institution for speedy liquidation and to relieve the The Bank of Buena Vista opened October 1920. with capital stock of which had been raised to ADVISABLE STEP The Bank of Cocoanut Grove opened in March 1920. with $15,000 capital. On Mach 10. the bank announced capitalization of 000 and deposits totalling The Bank Little through President B. C. Teed announced "In the circumstances we felt it advisable and desirable to suspend operations for the present. The bank is sound and in good shape. We in excess of $200,000 in cash in our vaults and reserve greater than 40 per cent. do not think the depositors will lose a dollar.
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THREE BANKS SUSPEND Hollywood Bank Weathers Heavy Withdrawal Of Funds MIAMI July banks suspended operations financial institution Dania closed Its doors and Hollywood bank heavy drawal of funds today The of Grove the Bank of Buena failed to for and the Bank of after of an bank Miami. similar with of and ceased operations shortly before noon the same time. Bank Holly also short north of this brief The Bank of Buena Vista and the made the following "The bank has decided to for present and will therefore, not business today. It actuated in this cause by desire to and depositors the Local plan and will the tails in few organize locally for speedy liquidation and to relieve the The of Buena Vista opened capital of $15,000 raised $50,000. Officials declined present deposits for either The Bank Cocanut Grove opened in March 1920 $15.On March 10. the of $30,000 and totalling Bank Little River, through President B. Teed announced: we feel it advisable and desirable suspend operations for the present. The bank is and We of cash in vaults and 40 per do not think the depositors will dollar. He intimated his intention of effecting an President Parker of the of Dania, announced Immediately that adjustment be made that would enable the to reopen shortly and meet all The run on the Bank of Hollywood precipitated after reecipt of funds from Miami banks The run shortly after noon they had funds sufficient to cover George Romfh of the Miami Clearing House in commenting on the suspension of three suburban banks, declared that and loan. on sible for the embarrassment.
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FOUR FLORIDA BANKS CLOSED THEIR DOORS MIAMI, Fla., July 2. (AP)-Three local banks suspended operations, a financial institution at Dana closed its doors and a Hollywood bank weathered a heavy withdrawal of funds today. The Bank of Cocoanut Grove, the Bank of Buenavista, the Bank of Little River and the Bank of Dania were the ones to cease operations. The run on the Bank of Hollywood was precipitated after weceipt of news of the previous bank closings, but was met through the receipt of funds from Miami banks.
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QUARTET FLORIDA BANKS SUSPENDED banks suspended financial institution closed its doors bank weathered heavy withdrawal of funds today The Bank of Cosoanut Grove and the Bank Buena failed open for business Little River after run an hour The Bank short distance from Miami, suffereda similar withdrawal of funds and ceased before noon. same time the Bank of Hollywood short distance nuorth this withstood run The run on the Bank of after of the closings was the receipt funds from Miami banks The subsided shortly after noon announced they had funds sufficient to carry every
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MORE ABOUT FLORIDA BANKS STARTS ON PAGE THIRTEEN would be made that would enable the ban kto reopen shortly and meet all obligations The run the Bank of Hollywood was precipitated receipt of the closings, but met through the ceipt of funds Miami banks The shortly after noon when officers they had funds sufficient to cover every dePresident George Romfh. of the Miami Clearing commenting the suburban declared that three outside loans on out. side paper solely responsible for the embarrassment.
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Hollywood Bank Closed bank of Dania closed its doors shortly Parker, vice president of the Bank announced noon a readjustment would be made immediately that will enable the bank to re-open shortly and meet its obligations. The Bank of Hollywood weathered a determined run today which began at 11 m.. and lasted until after noon.. After every patron seeking withdrawal of funds had been served, J. L. Bowie, vice president, issued statement, saying the bank had satisfied every demand made upon It. and that its cash withdrawals. reserve was adequate to meet the situation. Beginning at 11 a. m. patrons of the bank probably influenced by the sit. uation at Little River, where the community bank was forced to close its doors this morning following determined run, thronged the bank quarters to withdraw their deposits. While the run was at its height J. W.. Young, owner and developer of Hollywood-by the-Sea, made a brief speech in which he assured patrons that the Hollywood bank was prepared to meet its obligations and asking that they evidence their confidence in the institution by refusing to make further
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THREE BANKS CLOSE Officials Say Readjustment WIII Enable Them to Open Again. Miami, Fla., July local banks suspended operation, financial Institution at Dania closed its doors and Hollywood weathered heavy withdrawal of funds Friday. The bank of Cocoanut grove, and the bank of Buena Vista failed open for business and the bank of Little River closed after run of an hour's duration. The bank of Dania near Miami. similar withdrawal of and operations shortly before noon. The bank of Hollywood, also near here Broward county. withstood brief run. The bank of Buena Vista opened on Oct. 19, 1920. with capital stock $15,000. which had been raised $50,000. The bank of Cocoanut Grove opened in March. 1920 with $15.000 capital. Later the bank announced capitalization of $30,000 and deposits totalling Local officials declined to announce deposits for either institution B. Teed. president of the bank of Little River, intimated his Intention of effecting an early Parker, president of the bank of Dania, that readjustment would be made that would enable the bank to reopen shortly and meet all 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. The run subsided shortly after noon when officers produced funds sufficient to cover every deposit. President George Romfph of the Miami Clearing House association in on the suspension of three banks, declared that outside control and loans outside paper solely responsible for the