1.
March 14, 1927
Carthage Evening Press
Carthage, MO
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THREE FLORIDA BANKS CLOSE DOORS TODAY
(By the Associated Press) West Palm Beach, Fla., March 14. -The Ocean City bank of Delray failed to open its doors today making the third bank within a radius of 20 miles to close this morning. The First National Bank of Lakeworth remained closed, leaving no banking institution in Lakeworth. The Farmers bank and Trust Co. here which withstood a run last week when three banks closed, also did not open today.
Bank Withstands Run West Palm Beach, Fla., March 14. strenuous run on the Citizens Bank which started this morning and continued until early afternoon, abated at 2 o'clock with small lines within the bank at the several windows.
2.
March 14, 1927
Lansing State Journal
Lansing, MI
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BANKS CLOSED
Another Seeks to Stave Off Severe Run
WEST PALM Fla., March 14. (By A.P.) Three Palm Beach county banks failed open their doors Monday, while another local financial institution sought to stave off The Farmers Bank Trust company of West Palm Beach, one of the largest banks in this tion, did open Monday following midnight by Reese, its president, that closing of local banks and Palm Beach bank last Tuesday, had precipitated the action. Simultaneously First National bank Lakeworth Ocean City bank of Delray did open Monday morning. reasons for their separate tions were made public. Hawkins, state bank examiner, assumed charge of the Delray Intion worth left that city without at and The Delray bank was capitaldeposits aggregating and the Lakeworth bank had deposits of 622.690 both their statements published in July, 1926. line here Monday morning in termined run Citizens' bank West Palm Beach. sizeable crowd started forming hour before usual opening time augmented by the Farmers bank reports had not been opened. The line stretched solid almost block Clematis street and on Narcisstreet
3.
March 14, 1927
The Post-Crescent
Appleton, WI
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CLOSE DOORS FLORIDA
Fourth West Palm Beach stitution Meets Run by Depositors
West Palm Beach, Palm Beach-co banks failed to open their doors Monday, while another financial institution sought to off The Farmers Bank and Trust company West Palm beach, one of the largest banks this section, did not open Monday following midnight by Reese, its president that the closing of two local banks Palm Beach bank last Tuesday had precipitated the action. the First of Nationbank of Lake Worth, and the Ocean City bank of Delray, did not open Monday morning. No reasons for their separate made public. Hawkins, state bank examiner, sumed charge of the Delray instituThe closing at Lake Worth left city without bank. LONG LINE WAITS A long line men and women bravpelting intermittent rain Monday morning in determined run on the Citizens bank of West Palm beach. sizeable crowd started forming an before and augmented by the reports the Farmers not The line solid almost block and Mild prevalled while the bank sought talk each person line in an attempt influence against withdrawal funds. The remained intact through Arrival Miami of an truck 12:05 with sacks paper currency for the prompted by bank offi that the bank intended open until o'clock Monday night every demand depositors. The line of patrons not crowds to surge past the corner. The Citizens together the Farmers bank last week, weathered determined runs.
4.
March 14, 1927
The La Crosse Tribune
La Crosse, WI
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THREE PALM BEACH COUNTY BANKS ARE CLOSED ON MONDAY
Fourth Institution Hard Pressed to Stave Off Severe Run
WEST PALM BEACH, Palm Beach county banks failed open their doors today, while another financial institution sought to stave off a severe run. The Formers' Bank and Trust company of West Palm Beach, one the largest banks in this did not open today dent, that the of local banks Palm bank last had precipitated the action. First National bank Lake Worth and the Ocean City Delray did not open Monday morning. No reason for their separate actions were public. T. C. state bank examiner, assumed charge of the Delray institution. closing at Lake Worth left that without bank long line men and women braved pelting, rain here this morning in determined run the Citizens' Bank of West Palm Beach. sizeable crowd started an hour before its usual by the Farmers' bank had The stretched almost block and half. Mild excitement prevailed, while friends of the bank sought to talk each in line an attempt to influence all against withdrawal of funds. The line remained intact hard Reports circulated that armored was enroute here with substantial financial aid from Miami banks. Citizens' bank, together with bank last weathered the determined runs. from Miami of an armored truck at o'clock with twelve sacks of paper currency for the CitiBank prompted by bank officials that the bank in tended remain open until o'clock tonight meet demand of depositors. The line of not dwindled, and crowds continued surge past the corner.
5.
March 14, 1927
Lancaster New Era
Lancaster, PA
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MORE FLORIDA BANKS CLOSED
Three Fail to Open and Another Tries to Stave Off Severe Run.
WEST PALM BEACH, March P.)-Three Palm Beach county banks failed to open their doors today. while another local financial institution tried to stave off severe run. The Farmers' Bank and Trust Company, Palm banks this did not open today night by Reese, that the closing of banks Palm Beach bank last Tuesday precipitated the the First National Lake Worth. the Ocean did morning. their actions were made public.
6.
March 14, 1927
The Sedalia Democrat
Sedalia, MO
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Started On Another West Palm Beach Is Being Cared For.
WEST PALM BEACH, Fla., Mar. Palm Beach County banks failed to open their doors while another local financial stitution sought stave off
The Farmers Bank and Trust Company of West Palm Beach did not today following mid night its presithat the closing of local Palm Beach Bank last Tuesday had the action. the First National Bank Lake and the Ocean City Bank Delray did not open this No for their separate made long men and braved pelting here this morning determined the Citizens Bank Palm Beach. sizeable crowd started forming an hour before usual opening time and was mented by the reports that Farmers Bank had not been opened. The line hard shower dispersed curious crowds which jam traffic this intersection. Arrival from armored truck noon with twelve sacks paper currency for the Citizens Bank prompted bank officials that the bank to open until six o'clock tonight to meet every demand depositors. The line of patrons dwindled, and crowds continued past the corner. President Maxfield of the Citizens Bank issued statement in which said the bank would not close urged depositors trust officials.
WEST PALM BEACH, March Ocean City Bank Delray failed to open its doors today, making the third bank with radius miles close this morning. Hawkins, state bank examiner, in charge.
WEST PALM BEACH, Mar. First National Bank Lake Worth, failed to open its doors this morning. This leaves banking institution in Lake Worth, First Bank and Trust Company having closed on The Farmers Bank and Trust Company which withstood run when three banks the resort closed, announced last through Reese, presi the bank would not be open business today.
7.
March 14, 1927
The Daily Review
Clifton Forge, VA
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ANOTHER CLOSES. AND STILL
Lakeworth, March Bank, of this The First National closed its doors. The place, today that the action was officers state the interest of the taken protect depositors.
8.
March 15, 1927
Birmingham Post-Herald
Birmingham, AL
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FRANTIC RUN ON FLORIDA BANKS HALTS
Armored Truck Rushes 12 Sacks Of Currency To Rescue
THREE CLOSINGS START TROUBLE
Officials Issue Quieting Statements To Excited Depositors
(By Associated Press) BEACH. March WEST PALM in the Palm quiet tone prevailed period of Beaches tonight following when determined excitement today the bank. prompted run on of three Beach by the closing county banks. early in the afternoon. only short lines of depositors at the windows. Two of the three banks remaining open here did not experience runs. They the regular closing hours announcing that plenty of funds had been obtained pay remained until o'clock to meet all requests for payments.
Truck Bring Aid
The was aided largely by the arrival armored truck from Miami, bearing sacks currency the beleagured Citizens which did not for business included Bank and Trust the largest banking institutions here, which closed was announce the positors the clared not result of the closing. Plans reopening the within 30 days were anThe First National bank of Lakeworth and the Ocean City of were other which did open official statement closing officials here and quieting ments, upon the banks their "proper assuring depositors that the banks which remained be meet every Officials of Citizens pressed to bank will even stronger than when we open directors of the Farmers' Bank Trust company, said It was decided to the
9.
March 15, 1927
The Vicksburg Post
Vicksburg, MS
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LAKE WORTH WITHOUT BANK
LAKE WORTH Fla., March 15 Worth today is withthe first time since 1913. the First National rth announcing this morning with sign the doors to the effect that the bank closed for the protection of depositors The Bank of Lake Worth first to serve this city. expended in 1925 and operated under the name of the First Bank and Trust Company It closed its doors February 24. and is now in charge of Tomkins C Haw. "ine state bank examiner The closing of this hank was said to have precipitated withdrawal of deposits at the First National of this city and the suspension of the Farmers' Bank and Trust Company at West Palm Beach was announced. cause. the officers of the bank here to suspend for the protection of depositors
10.
March 15, 1927
The Springfield Daily Republican
Springfield, MA
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THINK CONFIDENCE RESTORED IN BANKS PALM BEACHES
Run on Latest Institution Hit Eases and State Controller Ask Citizens Co-operate
West Palm Beach, Fla., March quieter tone prevailed in the Palm Beaches tonight following period of excitement when determined run Citizens' bank, prompted by closing of three banks in Palm Beach abated early this afternoon, leaving only short lines of depositors at the windows. Two of the three banks remaining open here did not expect runs. They the regular closing hours. The Citizens' bank, however, anthat plenty of funds had been pay open until to meet all requests for payment. banks which did not open today included the Bank Trust of the largest banking institutions here. The bank temporarily, nounced, the interest of the Plans for reopening within 30 or days announced. Officials Ask Co-operation.
The First National bank of Lake bank Delray other banks which did open today official ment issued regarding their closing. banking officials here and Tallahassee issued quieting statements calling upon patrons their institutions "proper co-opassuring depositors that the have meet every demand. Officials the Citizens' their not to close Inactivity the real estate marand the fact that much the bank's receivables were based upon real security were given by Ernest Amos, for the closings. which than the banks could liquidate their receivables, sulted breaking of serves, for the suspend, he said, adding, follow. bank is closed, that it
23 of 51 Closed Reopened.
As evidence of the latter statement, Mr to 23 the past the banks attitude of the public, Amos reason for the recent suspensions, the has cashing travelers' checks the winter instead of helping them, he Officials of the Central Farmers' bank the Bank West Palm Beach, the other institutions here, decondition of their banks to today brought the tobanks the Three these closed last The First bank Lake Worth the first important nationbank the state close.
11.
March 15, 1927
The Oregonian
Portland, OR
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FLORIDA BANK RUN TAPERS OFF QUIETLY
Seven Institutions Suspend in Past Few Months.
CASH BRINGS CONFIDENCE
12 Sacks of Currency From Miami
Puts Citizens' Reserve Fund in Good Condition.
WEST PALM BEACH, Fla., March quieter tone prevailed in the Palm Beaches tonight following period of excitement when determined run on the Citizens' bank, prompted by the closing of three banks in Palm Beach county, abated early this afternoon, leaving only short lines of depositors at the windows. Two of the three banks remaining open here did not experience runs. They the regular closing hours. The Citizens' bank, announced that plenty of funds had been obtained pay every depositor and remained open until o'clock to meet all requests for pay. ments. The return to normality was aided largely by the arrival from Miami of sacks of currency for the Citizens' bank. Big Institution Closes Doors. The banks which did not open today included the Farmers' Bank and Trust company, one of the largest banking institutions here. The bank was closed temporarily. it was announced, in the interest of the depositors Plans for reopening the bank within 30 or 60 days were announced The First National bank of Lake Worth and the Ocean City bank of Delray were the other banks which did not open today. No official statement was issued regarding Officials of the Citizens' bank ex. pressed their determination not to close "now or hereafter Inactivity of the real estate market and the fact that 80 much of the bank were based upon real estate securities was given by Ernest Amos, state controller. as the cause for the recent Insolvency Not Indicated. The great withdrawals, which were faster than the banks could liquidate their have resulted in the breaking down of reserves, making it necessary for the institutions to suspend, he said, adding that "it does not necessarily follow that because bank is closed it is insolvent. As evidence of the latter statement, Mr. Amos pointed to the reopening of 23 of 51 suspended banks in Florida within the last year. The closing today brought the total number of banks which have suspended in this territory within the last few months to seven. Three of these closed last week.
12.
March 15, 1927
Daily Press
Newport News, VA
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PALM BEACH BANKS QUIETER AFTER SUSTAINING
Citizens Bank is Besieged by Depositors But Cares For All Applicants With Cash, Ending Stampede.
WEST PALM BEACH, Mar. tone prevailed in the Palm Beach tonight following riod of when ermined run on the Citizens Bank, prompted by closing of additional Palm Beach county banks, abated early in the afternoon only lines of depositors at the Two of the three banks remaining did runs. The announcing that plenty of funds obtained pay every dtpositor, remained open six o'clock meet all requests for payments. The normaley was alded largely by the from bringing sacks Citizens Bank The banks which did open for business included Farmers Bank Trust Company of the largest nounced the interest positors whom declared cent result the for opening the bank within 30 or 60 announced The First National Bank of Lake Worth and the Ocean Bank Delray the other banks which did not open official issued regarding their closing today brought the total number banks which had suspended in the Palm Beaches within few months seven Three of closed last officials here the the 'proper operation that the will be able to meet every demand Officials of the Citizens Bank pressed their determination bank will be stronger and Bank Trust said after which was decided institution. Inactivity the real estate market and the fact that much the banks receivables kind of was given the for the recent closings Florida. "The great withdrawals which faster than the banks can their the breaking down reserves, making necessary for the institutions said the comptroller ding follow because bank is closed that insolvent.'
13.
March 15, 1927
The Sioux City Journal
Sioux City, IA
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QUIETER TONE IN PALM BEACH BANK SITUATION
West Palm Beach, Fla., March quieter tone prevailed Palm Beaches tonight following period of excitement when determined run on the Citizens bank, prompted by the closing of three banks in Palm Beach county, abated early this afternoon, only lines of deat the windows. Two the three banks remaining open here did experience runs. They the regular closing hours. Citizens bank, however, remained until o'clock to meet all requests for payments. The return normality was aided largely by the arrival from Miami of sacks of currency for the Citizens bank. The banks which did not open today included the Farmers Bank and Trust company. The bank closed temporarily, was announced, in the interest the depositors. Plans for reopening the bank within 30 to 60 were announced. The First National bank, of Lake Worth, and the Ocean City bank, of Delray, were the other banks which did open today. No official statement was issued regarding their closMeanwhile banking officials here and at Tallahassee quieting statements calling patrons give their institutions "proper co-operation' and assuring depositors that the banks which have remained open able to meet every demand Officials the Citizens bank expressed their determination not to close "now or hereafter "The bank will be even stronger than when open offiand directors of the Farmers said. Inactivity of the real estate market and the fact that much of the bank's based upon real estate security was given by Er nest Amos, state comptroller, the cause for the recent closings.
14.
March 15, 1927
Chattanooga Daily Times
Chattanooga, TN
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PALM BEACHES LOSE ANOTHER BANKS
Three Institutions Fail to Open Their Doors.
CITIZENS CONTINUES; IS AIDED BY MIAMI
Farmers Bank and Trust, the Largest in West Palm Beach, May Resume Operations on Former Basis.
WEST PALM BEACH, Fla., March quieter tone prevailed in the Palm Beaches tonight following period of excitement today when determined the Citizens bank prompted by the closing of three Beach county banks abated early in the afternoon, leaving only short lines of depositors at the windows. Two of the three banks remaining open here did not experience runs. They observed the regular closing hours. The Citizens however, announcing that plenty of funds had been obtained for depositor, mained open until o'clock to meet all requests for payments. The return to normality was aided largely by the arrival of an armored sacks of currency for the beleagured Citizens bank. The banks which did not open for today included the Farmers Bank and Trust company, one of the largest institutions here, which was closed temporarily. it was announced in the interest of the depositors, who, the bank's declared. would not lose cent as result of the closing. Plans for the bank within thirty or sixty days were Inactivity of the real estate market and the fact that much of the bank's receivables were based upon real estate security was given by State Comptroller Ernest Amos as the cause for the recent closings. great withdrawals, which were faster than the banks could liquidate their have resulted in the breaking reserves, necessary the institutions pend, comptroller, adding that does necessarily mean that because bank is closed that it is As evidence of the latter statement, the comptroller pointed to the reopening of twenty pended banks in Florida within the past Declaring that the condition of most of the banks has been aggra vated by the and of the public, Mr Amos not looking any greater financial the people keep their become frightened and make on any bank of locality the will be any can injure help Banks must be worked with, and not against. With the proper co-operation of positors and creditors banks can reopened. takes community spirit to put Officials Central Farmers bank and the National bank, of West Palm Beach, other here, clared the of their banks to be They anticipated no financial difficulties. Word came from Washington that the treasury officials were not worried condition national banks Florida, which was closing day the First National bank, of Lake Worth, to be the first closing of an important bank in the state. Scenes at the Citizens bank today the runs of last week, when three banks were closed. large part the crowd composed the idly curious, gathered to the long line of depositors move toward the windows the paying tellers. Rains scattered the curious milling throng. but the stuck to their places in the line until about 'clock in the afternoon, when only few persons mained to present their checks the tellers. During the run missionary work was carried by friends of the bank, who sought to persuade the lines to disperse. The closings today brought the tonumber banks which sustal this territory within the past few to seven. Three of these closed last
15.
March 15, 1927
Richmond Times-Dispatch
Richmond, VA
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Senators to Confer Today BANK STANDS UP On Eligibility of Smith ALL DAY UNDER
DANGEROUS RUN
West Palm Beach Institution Keeps Doors Open Long Overtime.
PLENTY OF MONEY TO MEET DEMANDS
Seven Financial Houses Succumb to eral Will Reopen.
By Associated PALM March quieter tone prePalm night following period of excitement today run the Citizens' by the closing of three Palm Beach County banks, abated early afternoon. leaving lines depositors the windows. Two the banks remainopen did experience The that plenty of funds been obtained remained open until o'clock to all requests for payments Truck Brings Money. The return normal was aided largely arrival shortly after truck from Miami curfor the beleaguered Citizens' banks which open business today included Trust of the banking institutions closed temthe declared. would not lose result Plans for reop ning the within thirty sixty days The First National Bank of Lake Worth Bank banks which did not open today No official statement regarding their closing
Seven Closed. The ciosings today brought the number banks which closed Palm Beaches within the past few months to Three these closed banking officials here at statements the banks to institutions "proper and assuring depositors the banks which have remained open will be able to meet Officials of the Citizens' Bank extheir not hereafter bank will be even stronger when open officers and directors the Farmers' Bank and Company allmeeting was cided to close the institution.
Will Consider Question of Whether Member, Ousted Last Year, Should Be Challenged When He At. tempts to Take Oath of Office. conference of Senators will decided whether Alfred of when he appears tomorrow to take The rumor gossip around Richmond nobody develop. of the of the General and consider seriously the question of whether ousted elected the should in people Senator Barron of of Senunderstood thinks his filled. Senator was held tonight in which will be Norfolk will challenged the of office Senator. of the subcommittee considered the charges against He Saxon chairman not anything say in the Thomas the His Byrd be of the posals the Governor through almost advocates them. practievery section of the State."
16.
March 15, 1927
Winston-Salem Journal
Winston-Salem, NC
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Run on Palm Beach Bank Halts When Load of Cash Arrives
Officials Say Situation Well in Hand and No More Runs Are Anticipated
Three Institutions Failed to Open for Business Monday Morning
One a Large Bank
Officers, However, Declare Depositors Will Not Lose
West Palm Beach, Fla., March quieter tone prevailed in the Palm Beaches tonight following a period of excitement today when determined run on the Citizens Bank, prompted by the closing of three additional Palm Beach County banks, abated early in the afternoon, leaving only thin lines of depositors at the windows Two of the three banks remaining open here did not experience runs. The Citizens Bank, announcing that pletny of funds had been obtained to pay every depositor, remained open until o'clock to meet all requests for payments. The return to normaley was aided largely by the arrival shortly after noon of an armored truck from Miami bearin twelve sacks of currency for the beleaguered Citizens Bank. The banks which did not open for business today included the Farmers Bank and Trust Company. one of the largest banking institutions here, which was closed temporarily. it was announced, in the interest of the depositors whom the statement declared would not lose cent as result of the closing Plans for reopening the bank within thirty or sixty days were announced. The First National Bank of Lake Worth and the Ocean City Bank of Delray were the other banks which did not open today. No official statement was issued regarding their The closing today brought the total number of banks which have suspended in the Palm Beaches within the past few months to seven. Three of these closed last week.
Asks Co-operation Meanwhile banking officials here and at Tallahassee issued statements calling upon the patrons of banks to give their insitutions "proper co-operation," and assuring depositors that the banks which have remained open will be able to meet every demand. Officials of the Citizens Bank expressed their determination not to close "now or hereafter "The bank will be even stronger than now when we open again. officers and directors of the Farmers Bank and Trust Company said after an all-night meeting at which it was decided to close the Institution.
Real Estate Slumps Cause Inactivity of the real estate market and the fact that 80 much of the banks' receivables are based upon that kind of security was given by State Comptroller Ernest Amos as the cause for the recent closings in Florida. "The great withdrawals which are faster than the banks can liquidate their receivables have resulted in the breaking down of reserves. making It necessary for the institutions to suspend, said the Comptroller. adding that "it does not necessarily follow that because a bank is closing that it is Insolvent.
As evidence of the latter statement, the Comptroller pointed to the re-opening of twenty three of fifty-one suspended banks in FlorIda within the past year. Statement by Examiner
Declaring that the condition of most of the suspended banks has been aggravated by the agitation and attitude of the public, Mr. Amos said am not looking for any greater financial depression, if the people will keep their heads. If they become frightened and make run on any bank of any locality, the situation will become aggravated. The people themselves can injure or help such situation. Banks have to be worked with, and not against. With the proper cooperation of depositors and creditors, banks can be re-opened. It takes wholehearted community spirit to put it over." Another reason for the recent the Comptroller believed, has been the cashing of travelers checks for tourists coming into the State this winter. This costs the banks something instead of helping them, he declared. Officials of the Central Farmers Bank and the National Bank of West Palm Beach, the other institutions which have remained open here. declared today the condition
17.
April 15, 1927
The Palm Beach Post
West Palm Beach, FL
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MAY OPEN BANK
Special The Post Lake Worth April Several hundred depositors met with officers and of the First National Bank of Lake Worth at 7:30 o'clock tonight at the American Legion arena here and voted as being in favor of the "freezing" agreement and other plans for reopening the bank.
EFFICIENCY "HI! Kelley to brickon the scaffold above him, "throw me brick "Phwat for?" demanded the brick. layer need one more to fill this hod I'm bringing London. measure for indeterminate prison Representatives Catts and Oliver would authorize purchase of Con nor's highway.
18.
December 4, 1927
The Palm Beach Post
West Palm Beach, FL
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BANK RECEIVER TO PAY INITIAL DIVIDEND
Tunnicliffe Announces Early Payment of 10 Percent to Depositors
TOTAL OF $107.232.38 WILL BE DISTRIBUTED
Report Shows Interest Due Institution Has Paid for Receivership
Following the heels of nouncement by Cunningham, that dividends would be paid depositors of both First Nation. bank of Lake Worth the Palm Beach National dividend of 10 per of the Commercial Bank Trust company declared yesterday The dividend declared follow. Mr. return from Tallahassee where the approval of the given. Checks aggregating the amount were issued by the brought here by the Dividends will paid all deposi. the bank hold certificates issued Payments be made immediately presentation of the certificates. notification of the divi. dend being mailed out yester. day by Mr. Tunnicliffe holders of certificates in the The contents as hereby notified that first has issued by the of the be made at the office of the mercial Trust Palm Beach, and that the certificates presented that proper made ceiver's must the same the address given above the proper on the certificate, be turned to the owner together dividend Mr. as The bank took the office receiver last recent to the that the the earned the the up to No. vember had been the the and leave operating profit of dividends the National Lake Worth and the Palm Beach National bank December made Thursday Cunningham, for these He said that the dividend depositors First National bank of Lake Worth would and those the Palm Beach bank would With the payment of the dividend the Palm Beach stitution 1926 The dividend the Worth institution be its
19.
March 1, 1928
The Tampa Times
Tampa, FL
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Lake Worth Bank Receiver Wins Suit
A verdict in favor of the plaintiff was awarded by jury in the federal court today in the suit of John B. Cunningham, receiver for the First National Bank of Lake Worth, Fla., against C. N Smith, one of the of the inand owner of 24 shares of Cunningham testified that stockholders the bank had been assessed 100 cent. of their stock following the collapse of the institution on March 13, 1927. awarded judgment against Smith for
20.
June 22, 1928
The Palm Beach Post
West Palm Beach, FL
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PROMISE IS GIVEN OF BANK DIVIDENDS
Receiver of Two Defunct Institutions Announces Early 10 Percent Payment
A note of optimism was injected yesterday into the local financial situation by announcement that dividends would be paid shortly to depositors defunct National bank of West Palm Beach the First National of Lake Worth. B. Cunningham, receiver for both institutions, announced yesterday that in late July or early Angust substantial dividend would be deposits the West Palm Beach first to be paid since it closed last fall. At the same time he announced that checks were expected shortly from Washington for 10 per cent dividend on the Lake Worth bank. This bring the dividends to 35 per cent.
Policeman J. M. Tapscott showed the boys how is done yesterday on the when hung up of Yackie and Adams each scored 62 to tie for
21.
June 15, 1929
The Palm Beach Post
West Palm Beach, FL
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DEPOSIT ACCEPTANCE BY INSOLVENT BANKS IS HELD TO BE FRAUD
Judge Ritter, at Miami, Renders Decision of Widespread Local Interest In Settling Suit Against First National Bank Lake Worth
ENDERING a verdict of wide interest in local circles, Judge Halsted L. Ritter of the U. S. southern district court at Miami has held that acceptance of deposits by banks when the officers know the institution is in an insolvent condition, is fraud. Judge Ritter directed jury to return verdict for Mrs. Nellie M. Bunker of Lake Worth, defendant in suit instituted by the receiver of the defunct First National Bank of
Lake Worth. The receiver brought suit against Mrs. Bunker, sister-in-law of E. Bunker, president of the First Bank & Trust Company of Lake Worth, on check made out to Mr. Bunker made out 15 minutes before the bank closed at noon March 12, 1927, never reopen. On March 12, 1927, Mrs. Bunker with her brother-in-law went the bank to deposit $17,000 check. The money was part of the purchase price of an ice plant and was drawn on Tenn., bank. At the bank Mrs. Bunker deposited the check and drew for $6,500 made Mr. Bunker, his share of the money. They left the bank at about 11:45 16 minutes before the bank closed at noon and declared insolvent. Hearing the next day, Sunday, the bank was insolvent, Mrs. Bunker wired the Chattanooga bank to stop payment on the check. Later the receiver instituted suit against Mrs. Bunker for $6,500, the face value the check. Rufus Boozer and Wallace H. Boozer of Boozer & Boozer, attorneys for the defendant, filed plea of fraud, holding that the bank officials knew of the bank's insolvent condition and wrongfully neglected to make the The complainant's demurrer to the plea of the defendant was argued before District Judge H. D. Clayton at Miami, January 31, 1928. Sherman Bainum Daytona Beach and Wideman Wideman represented the complainant. Mr. Boozer declared Friday that probably many persons could institute suit with some hope of success, butmight be stopped by the statute of limitations or through having signed claims. Mr. Boozer cited the following case, brought before the United States supreme court, of St. Louis San Francisco R. Co. Johnson, 33 L. ed. 683, where the question the sufficiency of fraud allegations "The bill alleged that the bank was on the 5th day of May: that this was well known to its officers: that it wrongfully neglected to disclose its insolvency to complainant, and, by continuing business and otherwise. represented to complainant and all other persons dealing with it that was solvent; that complainant, on the faith of these representations, believed such be the fact, without suspicion that the bank was, or was in danger of becoming, insolvent; that, acting upon the representations, and on the bank's solvency, complainant delivered the draft; the next morning the bank closed its doors, and the draft was collected thereafter; and that by reason the premises the draft or its proceeds did not become the property of the bank. The receiver in his answer specifically denies these averments. We think the issue thus framed was sufficient to enable the court to proceed to decree. The fraudulent intention flowed from the guilty knowledge, and the bank must be held to the consequences of representation which it knew to be contrary to facts and upon which the complainant innocently acted. Granted that the omission to disclose the insolvency, if there had been ground for the supposition that the bank might continue in would not be sufficient there nothing for such a belief rest on here. As matter of pleading, the was that the bank wrongfully neglected to make the disclosure; as matter of fact the condition of the bank was so that it was its duty to make it. The omission specifically state in the pleading the degree of insolvency the bank's conduct fraudulent was not fatal, as the showed the intention of the pleader, and the particular contention could be fairly tested on the hearing.
22.
July 25, 1929
The Palm Beach Post
West Palm Beach, FL
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DAILY RECORD
CIRCUIT COURT
John B. Cunningham, as rec. of First National Bank of Lake Worth, Fla., vs. Simi, al., bc. fm.; John B. Cunningham, as rec. of Bank of Lake Worth, Fla., vs. Simi, al., bc. fm.; The Edward Roddy Corporation Thomas Farrell, also known Farrell, al., be. fm.; WilMalony. Elizabeth Taylor Foster, by William Foster, next friend, vs. The Publishing Company, corp., praec. sums. ad resp, dams. $10,000; Gould & McWilbur S. Foster VS. The Metropolis Publishing Company, Fla., corp., prace. for sums, ad resp. dams. $2,500; Gould McGee.
TRIAL
D. L. Shackelford, doing business Bainbridge Motor Car Co., Percifield, and H. E. Percifield, doing business as Percifield Automobile Co., dams. $975: Winters, Foskett Wilcox: McCoy & Finch. Strick on motion of plaintiff; no objection by defendant. Thomas H. Fancher VS. George Johnson, dams. Fancher, Paty Warwick: Houser Wood. Final judgment entered. Carl Hannon, his father and next Will Palm Beach Oil dams. $50,000: Blackwell, Moore: Baker White and Wideman. Continued o'clock Thursday morning. Oother cases continued until today.
MARRIAGE LICENSES Garland Howe Jacques, M. street, Katherine DuBruth, 741 street.
REAL Master's Clarence Geist. 1-2 NE of NW Sec. 32-47-43 (10 and all that part NE 1-4 of Sec. 32of WD-Henry Phipps and wife. Gladys Frederick Johnson. Lot Vita Serena, Miller to John McDonald Lots to incl. Blk. in Miller being Trs. to Sec. WD-John Miller (wdr.) to John BUDDY BRIAN McDonald, Lots incl., MARY Blk. Miller Being Trs. In OF 77 incl., Sec. 19-46-42. "THE Master's Deed White (Spec. M.) Ira J. Brussel. Tract Picturesque Blk. Plat Developers, Inc., to L-F Realty Co. Lots and 46, Belvedere Court Add. No. Days Hunter to Tabb. Civil 41 of Ridgeway Beach, Units Vitaphone 18-42-37. Hunter, wf. of Thomas Hunter to Tabb. Lot Ridgeway Beach S-D, Sec. 18-
23.
July 16, 1931
The Palm Beach Post
West Palm Beach, FL
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Bank Receiver Sues Col. W. J. Southam
The Post Lake Worth Bureau Col. William Southam, widely known Canadian publisher of Hamilton, Ont., named defendant in $7,500 attachment suit filed in circuit court Wednesday by Roy Garnett, the First National Bank of Lake Attachment in the sum of with the United States Fidelity Guaranty Company of Baltimore, Md., surety, was filed. While with the law firm of Wideman. Wideman Wardlaw representing the plaintiff. refused divulge the they would not deny that connected the reported purchase Southam the bank's building at Lake Worth Authority was the receiver federal court sell the property Notice the on by the sheriff of five parcels of property owned by Southam and in the vicinity of Boca Raton including considerable ocean frontage signed by Deputy Sheriff Packwood and filed in court Wed. nesday
24.
December 2, 1933
The Palm Beach Post
West Palm Beach, FL
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Former Bank Receiver Here Dies in Boston
Word received the Boston John receiver national banks Miami West Palm Beach His followed stroke, suffered three weeks earlier. He years Mr. Cunningham for many the employ the federal government, and served ceiver for Boston banks. He became widely known federal circles through his connection the office the comptroller currency and member the bureau criminal investigation, department of justice receiver Palm Beach National bank, the National Bank West Palm Beach the First National Lake Worth, Cunningham made enviable
Rio Grande Texas cently voted for her cease being