1.
January 16, 1917
The Daytona Daily News
Daytona Beach, FL
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E OF JACKSONVILLE'S LARGEST BANKS IN HANDS OF NAT. BANK EXAMINER Many Bad Loans Reported as Cause of Suspension of the Institution-Had Capital of $1,000,000. JACKSONVILLE, Jan. 16.-The Heard National bank, one of the largest financial institutions of this city, failed to open its doors this morning and the bank is now in the hands of the national bank examiner. The directors asked the federal authorities to take charge of the bank. The Heard National bank had a capital of $1,000,000 and a surplus of $250,000. The institution was organized about six years ago by J. J. Heard. It is said the bank shortly after opening made a number of heavy loans upon which it was unable to later realize because of the unsatisfactory condition of the naval stores markets. Financial men have known for some time that the bank was not in the best condition and Cashier Pike, of the Federal Reserve bank of Atlanta, practically took charge of the bank about three months ago. It is said that depositors will probably suffer no loss as the capital and liability of the stockholders will de ample to meet all deposits.
2.
January 16, 1917
Americus Times-Recorder
Americus, GA
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FLOR!DA BANK TAKEN OVER BY RECEIVERS JACKSONVILLE, Fla., Jan. 16.-The Heard National Bank, one of the largest financial institutions of Jacksonville, failed to open for business this morning. The bank's directors, at a meeting held last night. decided to 11quidate the affairs of the institution, and placed it in the hands of a national bank examiner. Reports current in financial circles this afternoon were to the effect that the bank owed depositors approximately $3,000,000, with about $1,000.000 cash on hand.
3.
January 17, 1917
The Pensacola Journal
Pensacola, FL
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SAYS HEARD OFFICERS MISMANAGED BANK BY ASSOCIATED PRESS. Washington, Jan. 16.-Comptroller Williams in a statement tonight said the suspension of the Heard National Bank, of Jacksonville, which closed today, was due to mismanagement of the bank's officers. These he characterized as "lacking experience, incompetent and reckless." The directors, he said, "ignored their responsibilities." The directors and officers were big borrowers from the bank, he asserted, and the president, J. J. Heard's, liabilities approximate $300,000. The loss will fall principally on the «hareholders.
4.
January 17, 1917
The Leader Enterprise and Press
Fitzgerald, GA
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SPELL LIVE STOCK CO. TO BUILD LARGE BARN Dirt is being broken for the eréction of a large sales barn by the Spell Live Stock Co. The building will be 50x170 feet, covering two entire lots, the walls of brick and the roof either tin or composition. This company's business has steadily expanded and they find it necessary to provide better facilities for handling same, hence the improvement. The Southern commercial world was afforded a thrili yesterday by the suspension of the Heard National Bank, of Jacksonville, one of the leading financial institutions of this section. The assets are declared ample to cover liabilities by the officials. Mr. H. A. Burkhart is replacing the large plate glass in the front of his show room which was broken out by an automobile some time ago.
5.
January 19, 1917
The Brunswick News
Brunswick, GA
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PRESIDENT HEARD SAYS ALL WILL GET FULL PAY JACKSONVILLE, Jan. 18.-James B. Pike, a vice-president of the Heard National Bank and until he came here some months ago an official in the Federal Reserve Bank for this district at Atlanta, will be receiver for the bank, according to an announcement made yesterday afternoon. Mr. Pike is expected to immediately take charge of the affairs of the institution. President J. J. Heard, of the Heard Bank, stated yesterday afternoon that he felt confident that the depositors in the bank would not lose a cent of their money, and, that they will be paid their deposits in full. In the same statement Mr. Heard replied to the criticisms made against the bank officials by Comptroller of Currency John Skelkton Williams following announcement of the closing of the bank.
6.
January 19, 1917
The Palatka News and Advertiser
Palatka, FL
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JACKSONVILLE BANKS SUSPEND PAYMENT Action Said To Have Been Taken to Prevent Loss to Depositors. : On Tuesday morning the big Heard National Bank of Jacksonville failed to open its doors for business. The affairs of the bank were left in the hands of J. K. Doughton, chief national bank examiner. On Wednesday evening J. B. Pike, one of the vice presidents of the bank was appointed receiver. President Heard said: "The suspension comes as a result of four years in which business has been admittedly not of the best, and while the progress of the institution during that time has been remarkable under the circumstances, at a special meeting of the board of directors Monday night it was decided to take summary action as a protection against loss to the depositors. The bank has $1,046,396.68 cash on hand and in banks, and deposits of $3,020,555.31. Comptroller Williams of Washington on day in night a statement attributed issued the suspension Tuesto "mismanagement by the bank's officers," whom he characterized as "incompetent and reckless," and to directors, who "seriously neglected their duties and ignored their responsibilities." On Wednesday President Heard took to the exception the language the of comptroller; he denied all of comphis troller's statements and reiterated would belief that every depositor be paid in full. This seems to be the general opinion of business men in Palatka who are posted regarding the Heard's assets. On Wednesday the First Germania Bank of Jacksonville also closed its doors and notified State Comptroller Ernest Amos. The Germania is a State Bank. D. J. Herrin, president of the bank. the board of directors had met residence said at that his Tuesday night, and that after a full discussion of the condition of the bank it had been decided to close the institution. This bank is composed of the First Savings bank and the Germania bank, two institutions which were consolidated about two years ago. The bank is declared to be solvent and it is the belief of the officers and directors that the depositors will be paid in full. It was stated by President Herrin that there was no connection physical between the FirstGermania bank and the Heard National bank. Live Oak Bank Closes. a On The Wednesday News also afternoon contained the special to information that " a silent steady run on the Live Oak Citizens Bank this afternoon was responsible for a meeting of the directors and officers, held last night, at which time it was decided to close the bank and notify the comptroller of such action, state step being deemed the this proper one to protect all interests concerned. The uneasiness here was caused by the failure of the Heard National Bank of Jacksonville, to open its doors on Tuesday, it being the general impression that there was some connection between the two banks. While the closing of the doors of the Live Oak Citizens bank caused inconvenience, the depositors feel confident that their interests will be protected. So strong was the confidence of the peonle in the bank that in the face of the run being made, friends continued to make deposits up to the hour of closing.
7.
July 6, 1917
The Pensacola Journal
Pensacola, FL
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H. G. MURRAY NAMED RECEIVER JAX BANK Announcement was made yesterday that H. G. Murray, receiver for the First National Bank, had been ap+ pointed receiver for the Heard National Bank, of Jacksonville, which was placed in the hands of a receiver some months ago. Mr. Murray has held the position in Pensacola for nearly a year, succeeding W. H. Milton, of Marianna, who was appointed when the bank was closed in 1914. Since taking charge of the business of the defunct institution, several dividends have been paid. Mrs. Murray and children are now in Pennsylvania, visiting relatives, but will join Mr. Murray in Jacksonville later, where they will make their permanent home. No official announcement has been made concerning the receivership, of th First Natioal Bank, though it is reported that Mr. Murray will continue to act.
8.
December 7, 1917
The Ocala Banner
Ocala, FL
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The St. Petersburg suspended bank has begun business again. We wish we were able to say the same thing of the Heard Natinoal at Jacksonville.
9.
June 23, 1919
The Lakeland Evening Telegram
Lakeland, FL
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RECEIVER OF HEARD BANK SUES FORMER DIRECTOR OF BANK Jacksonville, June 23.-In the office of Edwin R. Williams, clerk of the United States district court, Southern district of Florida, a bill of complaint was filed Saturday by C. L. Williams, as receiver of the Heard National bank of Jacksonville, against S. F. Travis, Eliza W. Travis, his wife, and the S. F. Travis Company, to recover on judgment secured against the defendant, S. F. Travis, a former director in the Heard bank. S. F. Travis, it is alleged, was a director of the bank and the holder ot 124 shares of its capital stock and that judgment and default were ob. tained against him. The bill of complaint alleges that the transfer of stock by S. F. Travis to his wife, Eliza W. Travis, and R. L. Travis, as stated and alleged in the bill, be decreed fraudulent. The suit is brought to secure a lien on 496 shares of stock of the S. F. Travis Company, prior and superior to any right, title, or claim. of the defendants and of each of them herein.
10.
September 25, 1920
The Lakeland Evening Telegram
Lakeland, FL
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HEARD NATIONAL BANK. WHICH CLOSED IN 1917, PAYS OUT Institution Closed Its Doors Tuesday, Jan. 16. 917-Depositors Get 100 Per Cent on the Dollar Jacksonville, Sept. 25. -Depositors of the Heard National bank, which failed about four years ago, are this week being paid the last of the 10 per cent installments on their claims, completing the retirement of all depositors' claims at 100 cents on the dollar. Payments are being made by C. L. Williams. receiver. 707 Graham (formerly Heard) building. and his office is expected to be a popular place this week. Depositors are directed to bring their certificates when presenting claims for final payment. When the Heard National bank failed. the officers of the institution declared that in time all depositors would receive full payment of their claims. Since that time regular dividends have been announced in installments of 10 per cent. and the receiver has zeen active in retiring this class of indebtedness of the institution. With the last payment, no depositor in the Heard will have lost a cent of his principal. Other liabilities of the bank are being discharged as rap idly as possible by the receiver and it is believed that in time all debts will have been wiped out.
11.
October 23, 1920
The Ocala Evening Star
Ocala, FL
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HEARD ACQUITTED BY A FEDERAL JURY Jacksonville, Oct. 22.-A verdict of acquittal was returned by the jury in federal court at 2:40 o'clock this afternoon in the case of J. J. Heard and A. E. Thomas, officials of the defunct Heard National Bank, which failed several years ago. Mr. Heard had been on trial in the United States district court for the last ten days. He was indicted on the charge of misapplication of funds of the bank. The indictment was found after the close of the doors of the Heard bank. A few weeks ago the receiver announced that the bank was able to pay all depositors the final dividend which would make 100 per cent on the dollar.-Tampa Tribune.
12.
October 23, 1920
The Lakeland Evening Telegram
Lakeland, FL
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BANK OFFICIALS ACQUITTED OF SERIOUS CHARGE Jacksonville, Oct. 23.-A verdict of acquittal was returned yesterday by the federal jury in the case of the U. S. vs. J. J. Heard and A. E. Thomas, officers of the defunct Heard National Bank, which failed several years ago. Mr. Heard had been on trial in the federal court for ten days before the verdict was reached. He was tried on an indictment for mis application of the funds of the bank. A few weeks ago the receiver an nounced that the bank was able to pay all depositors the final dividend which would make 100 cents on the dollar.
13.
October 23, 1920
Richmond Times-Dispatch
Richmond, VA
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DISTRICT COURT ACQUITS ACCUSED FLORIDA BANKERS J. J. Heard, Indleted on Charge of Wilfully Misapplying Funds, Goes Free. JACKSONVILLE, FLA., Oct. 22.--A verdict of acquittal was returned by the jury in the Federal Court at 2:10 o'clock this afternoon in the case of J. J. Heard and A. E. Thomas, officlals of the defunct Heard National Bank, which failed several years ago. Mr. Heard had been on trial in the United States District Court for the last ten days. He was Indicted on the charge of wilfully misapplying funds of the bank. The indictment was an aftermath of the closing of the doors of the Heard bank. A few weeks ago the receiver announced that the bank had paid to all de. positors 100 per cent of the principal of the deposits.