2397. First National Bank (Lakeland, FL)

View Charter #9811 on SPMC

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
9811
Charter Number
9811
Start Date
May 15, 1929
Location
Lakeland, Florida (28.039, -81.950)

Metadata

Model
gpt-5-mini
Short Digest
b4f61b0b

Response Measures

Capital injected, Full suspension, Books examined

Other: Assets sold to Almours Securities, Inc.; receiver appointed and liquidation/reorganization arranged.

Description

Contemporary articles state the First National Bank of Lakeland suffered a run and closed its doors May 15, 1929 to conserve assets and protect depositors; it was placed in hands of state/federal authorities for reorganization/liquidation and later assets were sold and receivers appointed (per 1931 appointment). Sequence = run → suspension/closing → permanent closure/reorganization.

Events (5)
1. May 15, 1929 Run
Cause
Local Banks
Cause Details
Run followed and was precipitated by closings of other nearby banks (countywide failures/closures in Polk/Volusia counties); heavy withdrawals exhausted cash.
Measures
Closed doors to conserve its assets and protect depositors; placed in hands of state/federal authorities pending reorganization or liquidation.
Newspaper Excerpt
The First National Bank of Lakeland closed its doors yesterday to conserve its assets and protect depositors, according to a statement of the directors, following a run of nearly three hours.
Source
newspapers
2. May 15, 1929 Suspension
Cause
Government Action
Cause Details
After the run and exhaustion of cash, directors closed the bank and placed it in the hands of state/federal banking authorities for reorganization or liquidation.
Newspaper Excerpt
The First National Bank of Lakeland closed its doors yesterday to conserve its assets and protect depositors...the bank had been placed in the hands of federal authorities pending reorganization or liquidation.
Source
newspapers
3. July 12, 1929 Other
Newspaper Excerpt
All four of the banks headed by Fouts closed on May 15. Information filed against Fouts in three counts charged he had 'loaned' himself $5,000 ... The banks he headed closed May 15. State and federal officials began reorganization or liquidation for three Florida banks today ... the banks he headed closed May 15 (articles discussing legal action).
Source
newspapers
4. July 13, 1929 Other
Newspaper Excerpt
Sale of the First National Bank of Lakeland, which suspended operations May 15, to the Almours Securities, Inc., was here yesterday by Federal Judge Akerman in an order granting the bank's receiver authority to make the transaction. Almours Securities, Inc., will organize new national bank to be known as the Lakeland National Bank and will pay 'at the earliest practicable time 25 percent dividend to all general creditors' ...
Source
newspapers
5. November 7, 1931 Receivership
Newspaper Excerpt
John Shelton ... had been appointed receiver for the National bank Auburndale, the First National Lakeland ... take effect Nov. Shelton informed of his appointment by comptroller ... Mr. Shelton will make headquarters in Lakeland where he will make charge of the closed bank's affairs.
Source
newspapers

Newspaper Articles (19)
1. May 16, 1929 Evening Star Washington, DC
Article from Evening Star, May 16, 1929

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FLORIDA BANKS CLOSE. Lakeland, Winter Haven, Barto and Lake Alfred Firms Involved. LAKELAND. Fla., May 16 (P).-The First National Bank of Lakeland closed its doors yesterday to conserve its assets and protect depositors, according to a statement of the directors, following a run of nearly three hours. It was the fifth bank in Polk County to close. The First State Bank of Winter Haven, Bartow and Lake Alfred and the First National Bank of Auburndale were the others. Chile will spend $10,000,000 on new irrigation dams and canals this year.

2. July 12, 1929 The News Journal Wilmington, DE
Article from The News Journal, July 12, 1929

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3 BANKS CLOSED IN CENTRAL FLORIDA; OFFICIAL ACCUSED Move to Reorganize or Liquidate Institutions; Arrest Made. INFORMATION FILED (By The Associated Press.) JACKSONVILLE Fla., July 12.While State and Federal officials be. gan reorganization or liquidation for three Florida banks today, the president of four other central Florida Lanking institutions faced charges of violation of the State banking laws Two of the banks that closed yesterday were in that city. They were the Volusia County Bank and Trust Company and the First National Bank of De Land. which shut its doors during the morning after a heavy run precipitated by the closing of the Volusia County Bank. The third institution was the Colonial Bank and Trust Company of Miami. John L. Fouts who made bond of $10,000 after his arrest on an information filed by State Solicitor Hardin Peterson of Polk county, was president and director of the State Bank of Bartow, the first National Bank of Lakeland, the First National Bank of Auburndale and the State Bank of Winter Haven Information filed against Fouts in three counts charged he had "loaned" himself $5,000 from the funds of the State Bank of Bartow without consent of the board of directors, that he had altered the minutes of the board to make the loan appear regular, and that he had taken the money when resources of the institution were not to legal requirement. The banks he headed closed May 15. Time of arraignment for preliminary hearing was expected to be set in a few days.

3. July 12, 1929 New Britain Herald New Britain, CT
Article from New Britain Herald, July 12, 1929

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FLORIDA BANKING UNDERGOES PROBE Three Institutions Close-President of Four Faces Charges Jacksonville. Fla., July 12 (AP) While state and federal officers began reorganization or liquidation for three Florida banks today, the president of four other central Florida banking institutions faced charges of violating the state banking laws. Two of the banks that closed yes lerday were in De Land, the only banks in that city. They were the Volusia County Bank and Trust Co., and the First National Bank of De Land, which shut its doors during the morning after a heavy run precipitated by the closing of the Volusia County bank. Miami Bank Closes The third institution was the CoIonial Bank and Trust company of Miami. John L. Fouts, who made bond of $10,000 after his arrest on an information filed by State Solicitor Hardin Peterson of Polk county, was president and director of the State bank of Bartow. the First National Bank of Lakeland, the First National bank of Auburndale, and the State Bank of Winter Haven. Information filed against Fouts in three counts charged he had "loaned" himself $5,000 from the funds of the State Bank of Bartow without consent of the board of directors, that he had altered the minutes of the board to make the loan appear regular, and that he had taken the money when sources of the institution were not up to legal requirement. The banks he headed closed May 15. Organized Three Years Ago The Colonial Bank and Trust company was capitalized at $100,000 with a surplus of $50,000. It had been organized for three years, and attributed its closing to steady withdrawals of cash during the last four days. J. V. Carpenter was president. The Volusia County Bank and Trust company had resources of $2.816,188.12; deposits of $1,840,043.19; capital stock of $200,000; surplus of $100,000. and discounts of $1,724,516.08. The First National Bank of De Land had resources of $1,789,372.81; capital stock of $100,000; surplus of $25,000 and deposits of $1,211,750.47.

4. July 12, 1929 The Clarksdale Press Register Clarksdale, MS
Article from The Clarksdale Press Register, July 12, 1929

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Florida's Banks are Reorganized or Liquidated; President Faces Charges JACKSONVILLE, Fla., July state and federal officials began reorganization or liq. uidation for three Florida banks today, president of four other central Florida banking institutions faced charges of violation of the state banking laws. Two of the banks that closed yesterday in only banks in that city. They were the Colusia County Bank and Trust comand the First National Bank pany of Deland, which shut its doors during the morning after heavy run precipitated by the closing of the Colusia County Bank. third in stitution was the Colonial Bank and Trust Company of Miami. John Fouts, who made bond of $10,000 after his arrest on information filed by State Solicitor Hardin Peterson of Polk county, was president and director of the state Bank of Bartow, the First National Bank of Lakeland, the First NationBank of Auburndale, and the State Bank of Winter Haven. Information filed against Fouts in three counts charged "loaned himself $5,000 from the funds of the State Bank of Bartow without consent of the board of directors, that had altered the minutes the board to make the loan appear regular, and that he had taken the money when resources of the insti tution were not to legal require ment. The banks he headed closed May 15. Time of arraignment for prelimin ary hearing expected to be set few days. The Colonial Bank and Trust com pany was capitalized $100,000 with surplus of $50,000. It had

5. July 12, 1929 The Tampa Times Tampa, FL
Article from The Tampa Times, July 12, 1929

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JOHN L. FOUTS, POLK BANKER, IS ARRESTED Lent Bartow Money to Himself, Says Solicitor. By The Associated Jacksonville, July 12. While state and federal officials began the process of reorganization or liquidation for three Florida banks today following closing of the institutions, the president of four other central Florida banking institutions faced charges of "lending" himself $5,000 from one of the banks without consent of the board of directors, and with other violations of the state banking laws. Two of the banks that closed were in DeLand the only banks in that city and among the oldest in Volusia county. They were the Volusia County Bank and Trust company and the First National bank of DeLand, which shut its doors during the morning after heavy run precipitated by the closing of the Volusia County bank. The third institution was the Colonial Bank and Trust company of Miami. Headed Four Banks. The bank official, who made bond of $10,000 after his arrest on an information filed by State Solicitor Hardin Peterson. of Polk county, was John L. Fouts, president and director of the State Bank of Bartow, the First National Bank of Lakeland, the First National Bank of Auburndale, and the State Bank of Winter Haven. Information filed against Fouts in three counts charged that he had "loaned" himself $5,000 from the funds of the State Bank of Bartow without consent of the board of rectors, that he had altered the minutes of the board to make the loan appear regular, and that he had taken the money when resources of the institution were not to legal requirement. Time of arraignment for preliminary hearing is expected to be set in fe wdays. All four of the banks headed by Fouts closed on May 15. Technical charges against him name violation of state banking laws. Steady Withdrawals. The Colonial Bank and Trust company was capitalized at $100,000 with a surplus of $50,000. had been organized for three years, and attributed its closing to steady withdrawals of cash during the last four days. J. V. Carpenter was president. The Volusia County Bank and Trust company had resources of $2,818,888.12; deposits of $1,840,048.19; capital stock of $200,000; surplus of $100,000: and discounts The First National Bank of DeLand had resources of $1,789,971.81; capital stock of $100,000; surplus of $25,000, and deposits of D. B. Tuten, president of this institution, said in statement 'that a strong unexpected run had exhausted our cash supply and we had no time in which to secure additional funds We, therefore. were compelled to close our doors for the protection of depositors, believing it for the best interest of everyone." He added that the bank had been placed in the hands of federal authorities pending reorganization or liquidation. Dr. Lincoln Hulley, president of Stetson university, recently became president of the Volusia County bank. According to statement posted in the window of this institution, the bank was closed and placed in the hands of the state banking department "for protection of all depositors by order of the board of directors. Plans have been discussed and further action is contemplated looking to reorganiaztion of the bank with the purpose in view of paying the depositors in full."

6. July 12, 1929 The Boston Daily Globe Boston, MA
Article from The Boston Daily Globe, July 12, 1929

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BANK PRESIDENT FACES CHARGES Claim Florida Man Had "Loaned" Self Money JACKSONVILLE, Fla, July State Federal officers began reorganization liquidation three president Florida stitutions faced of violating the State Banking the closed yesterthe banks the Volusia County Bank Trust and the First National Bank which shut its doors during the mornafter precipitated closing the Volusia County The third institution the ColoBank and Trust Company Miami. John Fouts, made after filed State Peterson Polk County, and State Bank the First National Bank Lakeland, the First National Bank the State Winter filed Fouts three he himself $5000 the funds of the Bank the altered the of the make appear regular, and that he had money when the the institution not up The banks headed closed May 15, Steady Withdrawals Colonial Trust Comcapitalized ganized for closing cash during the last four days. Carpenter Volusia County Trust Company of deposits $200,000, surplus $100,000 and discounts $1,724,516.08 First National Bank le Land capital of $25,000 deposits of $1,211,750.47.

7. July 12, 1929 The Daily Record Long Branch, NJ
Article from The Daily Record, July 12, 1929

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Federal Officials Begin Reorgganization For Three Institutions Today. July sociated state and federal officials began reorganization liquidation for three Florida banks today the president of four other central Florida banking institutions faced charges of violation of the state banking laws two of the banks that closed yes. terday were in Deland, the only banks in that city. They were the Volusia County Bank Trust Comand the First National Bank pany of Deland which shut its doors during the morning after heavy by the closing of the precipitated Volusia County Bank third institution was the Colonial Bank Trust Company of Miami John who made bond of $10,000 after his arrest in all information filed by State Hardin Petof Polk was president and director of the State Bank of Bartow, the First National Bank of Lakeland, the First National Bank of Auburndale and the State Bank of Winter Haven. Information filed against Fouts in three counts charged he had "loaned" himself from the funds of the State Bank of Bartow without consent of the board of rectors, that altered of the board make the utes and that he had appear the money when resources of taken the institution legal The banks he headed quirement closed May 15.

8. July 12, 1929 New Britain Herald New Britain, CT
Article from New Britain Herald, July 12, 1929

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FLORIDA BANKING UNDERGOES PROBE Three Institutions Close-President of Four Faces Charges Jacksonville. Fla., July 12 (P)While state and federal officers began reorganization or liquidation for three Florida banks today, the president of four other central Florida banking institutions faced charges of violating the state banking laws. Two of the banks that closed yes terday were in De Land, the only banks in that city. They were the Volusia County Bank and Trust Co., and the First National Bank of De Land. which shut its doors during the morning after heavy run precipitated by the closing of the VoluMiami Bank Closes The third institution was the Cojonial Bank and Trust company of Miami. John L. Fouts, who made bond of $10,000 after his arrest on an information filed by State Solicitor Hardin Peterson of Polk county. was president and director of the State bank of Bartow. the First National Bank of Lakeland, the First National bank of Auburndale. and the State Bank of Winter Haven. Information filed against Fouts in three counts charged he had "loaned" himself $5,000 from the funds of the State Bank of Bartow without consent of the board of directors. that he had altered the minutes of the board to make the loan appear regular. and that he had taken the money when sources of the institution were not up to legal requirement. The banks he headed closed May 15. Organized Three Years Ago The Colonial Bank and Trust pany was capitalized at $100,000 with surplus of $50,000. It had been organized for three years and attributed its closing to steady withdrawals of cash during the last four days. J. V. Carpenter was president. The Volusia County Bank and Trust company had resources of $2.capital stock of $200,000: surplus of $100,000. and discounts of $1,724.The First National Bank of De Land had resources of $1,789,972.81: capital stock of $100.000: surplus of $25,000 and deposits of $1,211,750.47.

9. July 12, 1929 The Valdosta Daily Times Valdosta, GA
Article from The Valdosta Daily Times, July 12, 1929

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PRESIDENT FOR FRAUD Loaned Himself Five ThousWithout Conand Dollars sent of Directors FLORIDA FAILURE IN A July federal officials While state and of reorganizabegan the process for three Flortion or liquidation following closing ida banks today of the institutions, the president of four other Central Florida banking institutions faced charges of "lending" himself $5,000 from one consent of the banks without the board of directors, and with the state bankother violations of fng laws. banks that closed Two of the only banks were in the oldest of that city and among Volusia county. They were the Volusia County Bank and Trust company and the First National which shut its Bank of Deland, doors during the morning after heavy run precipitated by the closing of the Volusia County Bank. institution was the the third Colonial Bank and Trust company of The bank official. who made bond $10.000 after his arrest on an information filed by State Solicitor Hardin Peterson of Polk county. was John L. Fouts, president and director of the State Bank of Bartow. the First National Bank of Lakeland. the First National Bank of Auberndale, and the State Bank of Winter Haven All four of the banks headed by Fouts closed on May 15. Technical charges against him name violation of state banking laws.

10. July 13, 1929 New Britain Herald New Britain, CT
Article from New Britain Herald, July 13, 1929

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FLORIDA BANKS IN FINANCIAL TROUBLE TWO More Fail in Daytona Beach-Probe Continues Jacksonville, Fla.. July 13 (AP) Approximately $9,000,000 in depositors' money was tied up today as state and federal banking authorities worked toward the reorganization or liquidation of six Florida banks which have closed within the last eight days, five of them since Thursday, The latest to fail were two in Daytona Beach. the Merchants Bank and Trust company and the Atlantic Bank and Trust company, which suspended business vesterday. Both were closed. according to notices on their doors, by state bank examiners pending reorganization for the protection of their customers. The failure of the Daytona Beach banks brought a run on the two remaining institutions in the city, which continued business despite heavy withdrawals. De Land. in the same county, suffered closing of the only two banks in the city, the Volusia County Bank and Trust company and the First National bank. Thursday, while the Colonial Bank and Trust company of Miami failed to open on that day. The Peoples' bank of Jacksonville nad closed last Friday morning. While banking department officials from the state and federal government audited the books of the six banks. John 1.. Fouts. president of four other closed central Florida banks. prepared for preliminary hearing on three charges involving violation of state banking laws. Fouts was president and director of the State bank of Bartow, the First National bank of Lakeland, the First National bank of Auburndale and the State bank of Winter Haven.

11. July 13, 1929 The Tampa Tribune Tampa, FL
Article from The Tampa Tribune, July 13, 1929

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NEW LAKELAND BANK APPROVED IN COURT HERE Closed Institution's Assets To Be Sold Sale of the First National Bank of keland. which suspended operations May 15, to the Almours Securities, Inc., was here yesterday by Federal Judge Akerman in an order granting the bank's A. M. Anderson. authority to make the transaction. Under the terms of the sales contract, approved by the comptroller of the Securities, Inc., will organize new national bank. to be known the Lakeland National bank and will pay "at the earliest practicable time 25 percent dividend to all general creditors' and "pay in full all preferred claims." The Lakeland bank, located at the corner of Kentucky avenue and Main street. was of group. headed by John L. Fouts, which were closed recently. Property In Deal The new bank. under the terms of its contract, will purchase $233,101 worth of bills receivable, the bank property. furniture and furnishings (exclusive of the property adjoining the bank and known as the Munn annex). and "quick totaling $188,733.68. constituting total of $492,834 or sum corresponding in amount to 25 percent of the known net liabilities. The contract specifies that the new bank to sufficier additional assets, at face value, as may be necessary to pay 100 percent of all preferred claims." each depositor or creditor." according to the contract terms, "establishes his claim with the receiver, receiver's certificate will be issued," and upon presentation the certificate at the bank. an individual credit will be set up in favo. of the certificate holder amounting "to the percentage of ratio provided," or 25 percent, credit will be subject to immediate check." Liquidation Move Lakeland residents here yesterday saw in the sale liquidation move they believed would eventually pay depositors and creditors 100 cents on the dollar Net liabilities of the closed bank on June 30 were listed in the petition at $1,971,339 Known of bills receivable of net par value given at the banking house, furniture and fixtures were valued at $71,000; "quick assets' of par value at and "other real estate at $41,000 at an estimated value and above liens and en-

12. August 6, 1929 Brownsville Herald Brownsville, TX
Article from Brownsville Herald, August 6, 1929

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FLORIDA CALM AFTER PANIC Washington Crop Movement Report Restores Composure to Public ORLANDO, Fla, Aug. 6.-Florida's second bank panic in two years, due largely to uncertainity over marketing crops next winter because of the fruit fly quarantine, has become a thing of the past, financial interests believe. About 30 banks having closed their doors. The unexpectedness of the runs, which gained impetus after reports were circulated that Tampa and most other banks were closing, caused many sound institutions to close their doors when the reserve cash gave out, officials said. All of these banks *re preparing to reopen as soon as their affairs have been straightened out to the satisfaction of the state comptroller. The people of Florida are recovering their composure with the news from Washington that citrus crops will be moved out of infested and protective zones and that other vegetables will also go to market. In this county the State Bank of Ocoee opened the first part of the week. This bank closed more than a year ago. The bulk of the depositors have agreed to freeze their deposits for a period of from one to four years rather than force liquidation and poor settlements at this time. The depositors get 25 per cent of their money each March 1, beginning next year through 1933, with interest at four per cent. The First National Bank of Winter Garden in all probability will reopen shortly. There will be some changes in the directorate, with one or two Orlando financiers on the board. The depositors are assured full payment. At St. Augustine three banks are to be consolidated, namely; the First National, the People's Bank for Savings and the Bankers Trust Company. Announcement is said to have been made by the United States Comptroller, approving the consolidation. At St. Petersburg the Fidelity Bank & Trust Company has acquired the banking rooms of the Alexander National, at Seventh and Central avenues, which will be inlarged. The Fidelity has a capital of $100,000, which will be increased, according to announcement plans for reorganization. Announcement of the approval for sale of assets of the First Nattional of Lakeland to the DuPont interests, by the treasury department, has caused Sebring business men to predict that such action might cause the sale of the assets of the First national of Sebring to the same concern. Under the terms of the sales contract, approved by the comptroller of currency the Almours Security Company, inc., will organize a new bank to be known as the Lakeland National Bank, and will pay at the earliest "practical time a 25 per cent dividend to all creditors and pay in full all preferred claims.' New Institution At Sarasota the Palmer National Bank and Trust Company, a new financial institution capitalized at $100,000, opened for business last week. The principal stockholders are Honoree and Potter Palmer of Chicago. The bank is temporarily occupying the banking rooms of the former American National bank. Its president is John B. Cleveland, for the past three years manager of the Tampa offices of the Palmer corporation.

13. August 6, 1929 Brownsville Herald Brownsville, TX
Article from Brownsville Herald, August 6, 1929

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FLORIDA CALM AFTER PANIC Washington Crop Movement Report Restores Composure to Public ORLANDO, Fla., Aug. 6.-Florida's second bank panic in two years, due largely to uncertainity over marketing crops next winter because of the fruit fly quarantine, has become a thing of the past, financial interests believe. About 30 banks having closed their doors. The unexpectedness of the runs, which gained impetus after reports were circulated that Tampa and most other banks were closing, caused many sound institutions to close their doors when the reserve cash gave out, officials said. All of these banks are preparing to reopen as soon as their affairs have been straightened out to the satisfaction of the state comptroller. The people of Florida are recovering their composure with the news from Washington that citrus crops will be moved out of infested and protective zones and that other vegetables will also go to market. In this county the State Bank of Ocoee opened the first part of the week. This bank closed more than a year ago. The bulk of the depositors have agreed to freeze their deposits for a period of from one to four years rather than force liquidation and poor settlements at this time. The depositors get 25 per cent of their money each March 1, beginning next year through 1933, with interest at four per cent. The First National Bank of Winter Garden in all probability will reopen shortly. There will be some changes in the directorate, with one or two Orlando financiers on the board. The depositors are assured full payment. At St. Augustine three banks are to be consolidated, namely; the Firest National, the People's Bank for Savings and the Bankers Trust Company. Announcement is said to have been made by the United States Comptroller, approving the consolidation. At St. Petersburg the Fidelity Bank & Trust Company has acmired the banking rooms of the llexander National, at Seventh and Central avenues, which will be inlarged. The Fidelity has a capital of $100,000, which will be increased, according to announcement plans for reorganization. Announcement of the approval for sale of assets of the First Nattional of Lakeland to the DuPont interests, by the treasury department, has caused Sebring business men to predict that such action might cause the sale of the assets of the First national of Sebring to the same concern. Under the terms of the sales contract, approved by the comptroller of currency the Almours Security Company, inc., will organize a new bank to be known as the Lakeland National Bank, and will pay at the earliest "practical time a 25 per cent dividend to all creditors and pay in full all preferred claims.' New Institution At Sarasota the Palmer National Bank and Trust Company, a new financial institution capitalized at $100,000, opened for business last week. The principal stockholders are Honoree and Potter Palmer of Chicago. The bank is temporarily occupying the banking rooms of the former American National bank. Its president is John B. Cleveland, for the past three years manager of the Tampa offices of the Palmer coration.

14. August 6, 1929 The Brownsville Herald Brownsville, TX
Article from The Brownsville Herald, August 6, 1929

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AFTER Washington Crop Movement Report Restores Composure to Public ida's second bank panic in two years. due largely to uncertainity over marketing crops next winter because of the fruit fly quarantine, has become a thing of the past, financial interests believe. About 30 banks having closed their doors. The unexpectedness of the runs, which gained impetus after reports were circulated that Tampa and most other banks were closing. caused many sound institutions to close their doors when the reserve cash gave out, officials said. All of these banks *re preparing to reopen soon as their affairs have been straightened out to the satisfaction of the state comptrol'er. The people of Florida are recovering their composure with the news from Washington that citrus crops will be moved out of infested and protective zones and that other vegetables will also go to market In this county the State Bank of Ocoee opened the first part of the week. This bank closed more than year ago. The bulk of the depositors have agreed to frecze their deposits for period of from one to four years rather than force liquidation and poor settlements at this time. The depositors get 25 per cent of their money each March beginning next year through 1933, with interest at four per cent. The First National Bank of Winter Garden in all probability will reopen shortly. There will be some changes in the directorate, with one or two Orlando financiers on the board. The depositors are assured full payment. At St. Augustine three banks are be consolidated. namely: the First National, the People's Bank for Savings and the Bankers Trust Company. Announcement said have been made by the United States Comptroller, approving the consolidation. Petersburg the Fidelity At St. Bank & Trust Company has acrooms of the quired the banking Alexander National at Seventh and Central which will be Fidelity has capital The larged. of $100.000, which will be increased. to announcement plans according for reorganization. of the approval Announcement for sale of assets of the First Nattional of Lakeland to the DuPont interests, by the treasury department, has caused Sebring business that such action to predict men the sale of the assets might cause national of Sebring to the First Under the terms same concern. of the the sales contract. approved the by comptroller of currency the Inc., Almours Security bank to be will organize a new Lakeland National as the known Bank. and will pay at the earliest "practical time 25 per cent dividend to all creditors and pay in full preferred claims.' New Institution At Sarasota the Palmer National Company new Bank and Trust capitalized at institution financial business last opened for $100,000. stockholders The principal week. Potter Palmer of Honoree and are bank is temporarily Chicago. The rooms of the the banking occupying National bank. Its American president former is John B. manager Cleveland, of the for past three years the the Palmer coroffices of Tampa poration.

15. December 18, 1930 The Tampa Tribune Tampa, FL
Article from The Tampa Tribune, December 18, 1930

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Bank Receivers Are Awarded Judgments Verdicts for damages totaling $41.363 were awarded receivers of closed banks in federal court yesterday. the largest being for $31,397 in favor of H. J. Spurway, as receiver of the First National bank of Lakeland, against L. N. Pipkin. Spurway also was given a verdict for $8837 against the Lakeland Manufacturing company and others. Albert W. Doepke, as receiver of the First National of Avon Park, was awarded verdict of $1129 against Jessie R. Smith and others. Harold S. Day, as receiver of the First National bank of Avon Park. won verdict against C. M. Hill. A motion by the United States for judgment was granted by Judge Akerman in the case of Gertrude W. Yowvs. the United States for an income tax refund.

16. November 7, 1931 Tampa Bay Times St. Petersburg, FL
Article from Tampa Bay Times, November 7, 1931

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SHELTON NAMED BANK RECEIVER Former Local Banker Gets Word of His Federal Appointment John Shelton, trust officer the Central National bank until closed April 17, received word day that had been appointed ceiver the National bank Auburndale, the First National Lakeland the Polk County National bank Bartow take effect Nov. Shelton informed his appointment by comptroller, in Shelton leave this morning for Lakeland where he will make headquarters. Mr. Shelton had been trust officer the Central bank for six years, from Chattanooga where he had banking experience. the closed Mr. Shelton retained by M. Anderreceiver for the First National Central National banks, for two in capacity. Due federal laws an officer of cannot of his Anderretained Shelton, however, after the trust department closed Central bank. Griffin, had been receiver the three Florida banks, and Shelton appointed vacancy. Mr. Shelton some time ago to Comptroller position bank receiver and asked whether position accept Mr. Shelton that the came him to report Lakeland. Mr. has property here. to make tersburg

17. May 11, 1934 The Tampa Tribune Tampa, FL
Article from The Tampa Tribune, May 11, 1934

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J. C. Shelton Resigns As Polk Bank Receiver LAKELAND, May (Special)J. C. Shelton, who was appointed receiver for several Polk county banks Nov. 9, 1931, today announced he has submitted his resignation to Comptroller J. F. T. O'Connor in Washington because of ill health. Shelton, who came here from St. Petersburg, is receiver for the First National bank, of Lakeland, the Snell National bank. of Winter Haven, the Polk County National bank, of Bartow, and the First National bank, of Auburndale.

18. May 17, 1934 The Tampa Tribune Tampa, FL
Article from The Tampa Tribune, May 17, 1934

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New Polk Bank Receiver Prepares To Take Charge LAKELAND, May 16.-(Special) Charles I. Dwiggins, receiver of the National Bank of Commerce at Tarpon Springs, who has been named receiver of four closed national banks in Polk county, was here today to check over his new duties with J. C. Shelton, who has resigned because of ill health. Dwiggins is to be liquidator for the First National bank here, the First National in Auburndale, the Polk County National at Bartow and the Snell National at Winter Haven.

19. August 22, 1936 Evening Star Washington, DC
Article from Evening Star, August 22, 1936

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FINAL PROBATE PAPERS FOR TRAMMELL FILED Of $200 Cash Left Widow, Lawyer Who Acted as Administrator Gets $100. By the Associated Press. BARTOW. Fla., August 22.-Final probate papers in the settlement of the estate of the late United States Senator Park Trammell were filed here yesterday. Of the $200 cash bequeathed to Trammell's widow $100 was awarded to J. P. Marchant, attorney, who acted as administrator. Marchant reported to 'the County Court that a notice to creditors had been published, that he had collected as administrator $4,242 from a New Orleans life insurance company and that he had paid it over to C. I. Wiggins, receiver of the First National Bank of Lakeland. An accounting of the estate showed that the insurance policy had been made payable to the Lakeland bank as collateral for a loan.