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Three Florida Banks Close Their Doors Failure of three state banks was announced today by the State Banking Department. The First Bank of Lake Worth, Fla., the Bank of Canal Point. Fla., and the Reddick State Bank of Reddick, Fla., failed.
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SAVING TO DEPOSITORS OF CLOSED BANKS SEEN IN LIQUIDATOR REPORT Miscellaneous Savings to depositors of nearly $100,000 has been effected through Rent head since the consoli- Total Expense the liquidating of 13 state banks under one dation the liquidatorships about two years ago, revealed TOTAL ASSETS $1,578,361.42 statements of these liquidations as of June 30, 1931, made by J. P. LIABILITIES Cochrane, liquidator Capital Stock $100,000.00 Surplus 100,000.00 100,000.00 Statement made by Mr. Cochrane last night that only about Undivided Profits $7,000 of nearly released by court order recently for payment Assessment Collected Stock Bank Trust Company has Dividends Unpaid of preferred claims against the Farmers & Individual Deposits 786,823.63 been obtained by preferred claimants All banks except two, the First Saving Deposits 12,000.00 bank of Canal which is expected Bank of Lake Worth and the Demand 102,524.06 to reopen about Monday July 13. have paid dividends These two Certified Checks Unpaid 2,908.88 Cashier's Checks Unpaid 27,360.08 banks have not been closed year in which time persons may file Special Deposits Bank 39,128.04 Certificates Issued This report shows the liquidator's expenses and earnings from the EARNINGS beginning of the liquidation when he took over the institutions under Interest Discount Collected the Amos bill consolidating liquidatorships. Interest Bonds Rents Collected 3,821.85 The report Recoveries 10,854.07 2,383.98 Banking House 25,000.00 Cash Losses Settlements Furniture Fixtures 16,635.35 EXPENSE- Real Estate 1,005.00 $4,014.07 from Banks 7,501.18 Attorney Fees Cost Other Legal Expense 1,129.61 Due from State Treasurer Court 3,671.13 Paid Due from Closed Banks Salaries 7,866.74 Taxes Paid Cash Commissions Paid (Liquidator & Receiver) 5,796.85 Cash 17,057.70 Settlements 158,732.78 Insurance 2,128.28 Real Estate Maintenance 4,087.10 Deficit 15,447.08 Lights and Water EXPENSES Printing Attorney's Fees $4,070.30 Postage Court other Legal Expense Telephone Telegraph Salaries Taxes Paid 2,532.56 Paid (Receiver Liquidator) 6,704.48 Insurance Premiums Real Maintenance Lights 87.48 Printing Postage 1,895.11 Interest Rent 23,287.29 $1,156,800.98 $943,755.28 LIABILITIES 25,000.00 $ 25,000.00 Capital Stock 50,000.00 25,059.36 Surplus Stock Assessment Collected 7,380.11 49,005.21 Individual Deposits Savings Deposits 438,887.16 Demand and Time Certificates of Dep 9,120.00 Certified Checks Checks 3,235.82 Banks 28,025.27 3,278.02 Insurance 1,623.25 Bank Drafts COMI STATEMENT OF THE LIQUIDATORSHIP COMPANY Total Earnings Payable OF THE Rediscounts 278,398.27 $1,578,361.42 Certificates TOTAL LIABILITIES JULY 28, TO 30, 1931 EARNINGS Dividends Paid: 30% ASSETS Interest and Discount Collected 4,309.25 7-28-26 6-30-31 Rents $4,372,656.68 COMPARATIVE STATEMENT OF THE IDATORSHIP Loans Discounts Recoveries OF THE COMMERCIAL COMPANY Overdrafts Miscellaneous 2,621.27 26,421.87 FLORIDA 62,622.34 Bonds. Stocks Securities December June 1931 County Warrants 76,864.36 56,762.61 ASSETS Furniture Fixtures 152,706.03 6-30-31 Other Real Estate Owned Dividends Paid 5% 60,467.03 2,373.00 Loans Discounts $1,260,206.20 $723,438.02 Due from Banks 65,500.00 Overdrafts 1,853.81 Due Banks C/D COMPAR ATIVE OF Securities 148,203.42 91,100.00 State Treasurer DELRAY BANK CO. Furniture Fixtures 34,048.80 Due from losed Banks Other Real Estate Owned ASSETS Other Resources 6,291.58 Banks 6-30-31 Items from Banks 30,000.00 Cash Loans Discounts Due from State Treasurer Overdrafts 72,378.18 Claims Other Resources 3,187.23 60,350.00 Assets Securities Cash Items EXPENSE Banking Fees $22,248.56 Attorney Fixtures Court Cost Other Legal Expense Settlements 35,126.49 Real Estate EXPENSE Banks Attorney Fees of Dep Taxes Due from Other Legal Expense Commissions Paid (Liquidator & Receiver) Due from State Salaries Due from Closed Banks Taxes Paid Real Estate Maintenance and other Resources Commissions Paid Liquidator & 11,783.40 and Cash Items Printing Postage Premium 968.34 Stationery 2,041.26 Stationery Printing Postage Telephone Telegraph Telephone Telegraph Miscellaneous EXPENSES 12,670.79 Miscellaneous Attorney's Fees Interest Paid Expense and other Legal Charges & Furniture & Fixtures 6,177.14 Crating Storage Moving Salaries Total Operating Expense 34,412.45 1,096.91 Interest Taxes Paid (Receiver & Liquidator) Total Operating Expense 7,213.69 TOTAL ASSETS $1,172,243.69 1,474.71 Insurance $5,425,860.65 LIABILITIES 1,197.48 TOTAL ASSETS Real Estate Maintenance LIABILITIES Capital $100,000.00 $100,000.00 Lights Water 75,000.00 Surplus 75,013.19 Capital Stock Stationery Printing Postage Stock Assessment Collected 204.46 Telephone Telegraph Account Surplus Assessment Collected 26,250.00 Individual Deposits 1,342.78 2,935,040.82 Savings Deposits Deposits Rent Demand and Time 270,279.05 Deposits C/D Certified Checks Unpaid Demand and Cashier's Checks Unpaid 20,937.27 $763,228.01 Checks Unpaid Trust Deposits LIABILITIES Cashier's Capaid 101,381.42 Due Banks 50,000.00 Trust Deposits Capital Stock Bank Drafts Unpaid 50,000.00 50,000.00 Bills Payable Surplus Bills Payable Rediscounts Profits Certificates Issued 3,937.68 Receiver's Certificates Issued Stock Assessment Collected EARNINGS Interest Discount Collected Contingent Liabilities Savings Deposits Trust Earnings Cancelled Time Certificates of Dep Interest EARNINGS Certified Checks Rents Interest Discount Collected Cashier's 2,213.25 Recoveries Trust Earnings Deposits Total Earnings Interest Bills Payable TOTAL LIABILITIES Miscellaneous Dividends Total Earnings Receiver's Certificates Issued TOTAL LIABILITIES COMPARATIVE STATEMENT OF THE LIQUIDATORSHIP Interest and Discount Collected Dividends BANK Trust 25.00 June 1931 Bonds 4,210.65 ASSETS COMP STATEMENT OF THE LIQUIDATORSHIP 6-30-31 Recoveries THE FARMERS AND TRUST Loans Discounts Miscellaneous WEST PALM BE FLORIDA June 15. June 1931 Bonds Stocks ASSETS 35,000.00 $763,228.01 Loans Discounts Furniture Fixtures Dividends Paid 10% Overdrafts Real Estate Bonds Stocks Securities from Banks STATEMENT OF LIQU IDATORSHIP Warrants State OF Banking House Due Closed 3,643.71 June 16, 1928 30. 1931 Furniture Fixtures Cash Items ASSETS Other Real 405,846.20 Cash Losses Settlements 19,161.01 Loans Discounts Due from Banks 32,000.00 EXPENSES Overdrafts Due State Treasurer Fees $8,796.14 17,700.00 11,961.52 Stocks Bonds Due from Closed Banks Court and Other Legal Expense Banking House 20,000.00 Other Resources 13,237.50 Furniture Cash Items Taxes Paid 2,008.68 Due from Banks Paid State Treasurer 1,102.34 Commissions Losses Settlements Insurance Premium Items EXPENSE Real Cash 659.29 Attorney Fees Stationery Printing Postage Losses Settlements Court Other Legal Expense Telegraph Account 1,001.06 Salaries Paid Taxes Paid Rent Fees $2,420.40 Attorney's Commissions Paid (Liquidator & and other Legal Charges $10.86 Insurance Real Maintenance 16,406.13 $164,597.90 Taxes (Receiver & Stationery Printing Postage Capital Stock Telephone Telegraph Surplus Printing Postage Miscellaneous Stock Assessments Collected Telephone Telegraph Account Miscellaneous Interest Savings Total Expense Certificates TOTAL ASSETS EARNINGS $107,920.76 LIABILITIES and Collected LIABILITIES Interest Discount Capital Stock 100,000.00 30,000.00 30,000.00 Capital Stock Surplus Recoveries Surplus Undivided Profits Insurance Assessments Collected Stock Assessment Collected Deposits Dividends Unpaid 188.00 3,064.90 Savings Deposits Individual Deposits Demand and Time Certificates of Deposit Savings Deposits $30,402.19 Dividends Paid 10% Certified 247.14 Demand and 317.80 Cashier's Checks Certified Checks Unpaid 11,829.19 COMPARATIVE STATEMENT OF THE LIQU IDATORSHIP Receiver's Certificates Cashier's Checks Unpaid OF OF BOC Suspense Account Trust Deposits November June Special Trust Deposits ASSETS Interest and Discount Collected 2,167.39 Bank Collections Recoveries Loans Discounts Miscellaneous Earnings Overdrafts Bills Payable Stocks 13,000.00 Rediscounts 351,000.00 $147,473.51 $107,920.76 Issued Due from Banks 4,217.44 Dividends Paid 15% EARNINGS State Treasurer Interest Discount Collected Closed Banks 4,668.61 COMPARATIVE STATEMENT OF LIQU IDATORSHIP I Trust Earnings Claims Other Resources OF BANK OF BOY Interest Cash Items July 10, 30, 1931 Collected ASSETS Recoveries 6-30-31 Losses Settlements 7,771.04 Insurance Recoveries EXPENSES Loans Discounts Fees Overdrafts Total Earnings 36,000.00 Court other Legal Stocks 10,647.97 9,236.17 Salaries Paid Furniture Fixtures TOTAL LIABIL Commissions Liquidator) Real Estate Dividends Paid: Stationery Printing & Postage Due from Banks from State Treasurer Rent 42.15 Due from Closed Banks COMPARATIVE STATEMENT OF THE LIQUIDATORSHIP 3,705.31 2,607.24 Claims and other Resources OF THE FIRST BANK OF WORTH Cash Items LAKE WORTH. FLORIDA $80,267.25 August 16, 1930, to June 30, 1931 24,350.00 LIABILITIES ASSETS Capital Stock $25,000.00 $25,000.00 EXPENSES 6-30-31 Surplus Attorney's Fees Loans Discounts $462,571.24 1,295.00 1,272.14 Stock Assessment Collected Court Cost other Legal Charges Overdrafts Individual Deposits 6,913.12 Salaries 937.02 Bonds Stocks Securities Savings Deposits Taxes Other Real Owned 12,620.83 Paid (Receiver and Liquidator) Certified Checks 118.61 Due from Banks Cashier's Checks Insurance Premiums State Treasurer 6,941.39 2,299.39 from Bank Drafts 427.13 Real Estate Maintenance Claims Other Resources Receiver Certificates Stationery Printing & Postage Cash Items Telephone Telegraph Account Cash Interest and Discount Collected Miscellaneous Settlements Rent EXPENSEAttorney Fees $80,267.25 $62,405.44 Court Other Legal Expense $303,813.42 Dividends Paid Salaries Paid LIABILITIES Commissions Paid (Liquidator) COMPARATIVE STATEMENT OF THE JQUIDATORSHIP 30,000.00 Capital Stock Estate OF Lights July 29, 1931 Stock Assessment Collected Printing Postage ASSETS Individual Deposits 112,723.78 Telephone Telegraph Savings Deposits 16,623.47 Miscellaneous Loans Discounts $40,564.91 Certificates of Deposit Rent 75.00 Overdrafts Certified Checks Total Expense Stocks 23,000.00 Cashier's Checks Furniture Fixtures 8,623.63 Due Banks Payable 20,000.00 TOTAL ASSETS Due Banks from State Treasurer Capital Stock $175,000.00 Other Resources Bonds Borrowed 20,000.00 Surplus 117,032.13 Cash Items 20.00 Undivided Profits 200.79 Interest Discount Collected Stock Collected EXPENSES Interest on Bonds Individual Deposits Fees Rents Saving Deposits and other legal charges Recoveries Demand C/D Salaries Certified Checks Unpaid Commissions Paid (Liquidator) Cashier's Checks Unpaid Insurance Premium to Bank Collections Stationery Printing Postage Dividends Paid 10% Banks Telephone Telegraph Account Items Rent aside from the music. was the onePayable Civitan Club Gives 3,205.00 act skit presented by three memBonds Borrowed First Summer Show Payable bers of the Civitan Club, John L. LIABILITIES Moore, Jack Minnis and Leon Interest Discount Collected Capital Stock $25,000.00 $25,000.00 The premiere summer entertainInterest Bonds Surplus Sikes, Rufus and the Corpse Rents Collected ment of the Civitan Club was given Another program will be given Recoveries Individual Deposits 27,332.02 last evening in musical program Savings Deposits next Friday Total Earnings 12,212.69 of 20,000.00 20,000.00 Demand and Certificates offered by local entertainers TOTAL LIABILITIES Festivities were opened by City Bank Drafts 7,000.00 Noted Press Agent 7,000.00 Manager A. Andersen COMPARATIVE STATEMENT OF THE LIQUIDATORSHIP EARNINGS The included the ap and Discount Collected Claimed by Death OF THE OF pearance of Bill Doherty's Club WEST PALM BEACH. FLORIDA Rents Collected 190.52 Atlantic orchestra William DoASSETS herty and Jerry in Reichenbach, who as circus waif and piano Miss Imogene COMPARATIVE STATEMENT LIQUIDATORSHIP Loans Discounts learned about publicity in P. T. BANK Carmichael by Overdrafts Mrs. M D. Carmichael piano: Barnum school and became one 32,840.41 ASSETS Furniture Freddie Maxwell of the highest priced agents Other Estate Owned Miss Bernice Blandford gave th the died his fiftleth Banks Discounts from Treasurer specialty dance year Friday after lingering Due Bonds Other Resources As a feature of the evening ness. 1,623.61 County Warrants Cash Items