2411. Melbourne State Bank (Melbourne, FL)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
July 29, 1929
Location
Melbourne, Florida (28.084, -80.608)

Metadata

Model
gpt-5-mini
Short Digest
efbd073f

Response Measures

Full suspension

Other: State department officials took charge (state examiner/closing).

Description

July 1929 articles report heavy withdrawals and state officials taking charge (suspension) of Melbourne State Bank. Later articles (Dec 1929) report the Comptroller approved reopening; therefore sequence is run → suspension → reopening. Dates inferred from publication dates: closure reported 1929-07-30 (closed 'yesterday' → 1929-07-29); reopening announced in late Nov/early Dec 1929 (papers published Dec 1–2). Cause attributed to runs tied to distress/closures of other local Florida banks (local banks/closing flurry).

Events (3)

1. July 29, 1929 Run
Cause
Local Banks
Cause Details
Heavy withdrawals tied to closing of other Florida banks and a wider closing flurry in the state; runs drained funds.
Measures
State department officials took charge; bank was closed (suspended) by state authorities.
Newspaper Excerpt
Heavy withdrawals resulted in the closing yesterday of two more Florida banks, the Brevard County Bank Trust company of Cocoa and the Melbourne State Bank of Melbourne.
Source
newspapers
2. July 29, 1929 Suspension
Cause
Local Banks
Cause Details
Suspension followed heavy withdrawals and failures/closures of other local banks in Florida; state officials closed/took charge of the bank.
Newspaper Excerpt
Withdrawals Close 2 More Florida Banks ... the MelState Bank at Melbourne ... did not open for business yesterday ... state department officials took charge of the institutions
Source
newspapers
3. December 2, 1929 Reopening
Newspaper Excerpt
The Melbourne State Bank, which suspended sometime ago, will open Monday, Comptroller Ernest Amos today. Plans for the re-opening have under way for several weeks and the comptroller telegraphed his approval today. (Pensacola News Journal, Dec. 2, 1929).Melbourne State Bank will reopen Monday (Dec. 1 newspapers).
Source
newspapers

Newspaper Articles (6)

Article from The Jersey Journal, July 30, 1929

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Article Text

Withdrawals Close 2 More Florida Banks Weekly Monthly Market Letter July Upon were tied up last night through the closing toof the Brevard County Bank and Trust Co. Bldg. Trust of Cocoa the MelState Bank at Melbourne 921 Bergen Ave., J. C. both bank in the hands of the Journal Square 4400 State Banking said the OFFICE due to heavy 115 Broadway, New York als, but hope was expressed for a The Brevard County Bank and Trust of Cocoa, in 1889 said to have been the third oldest financial institution in the state, had Gruntal capital and surplus deposof and assets of $1,247.Lilienthal & Co. The Melbourne State Bank had capiand surplus of of 54 and of $497 Members Failure the two left New York Stock Exchange cities bank The Bank of Titusville is the only other bank New York Cotton Exchange in County New York Curb Market Albert L. McGlaum, president of the (Associate) Cocoa institution, the failure of that bank due largely steady withdrawals of approximately $500,000 JOURNAL SQUARE within the last 90 BANK BUILDING Bank Closed LOUIS J. KRIEGEL, Manager Miners' Bank of this place Telephone Journal Square 6730 did not open for business yesterday already taken charge. Main Office: examiner, had reason was assigned for the 60 Broadway, New York City closing. but depositors were assured that would suffer no as was in progress today


Article from Pawhuska Journal-Capital, July 30, 1929

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Article Text

Heavy Runs Bring Close of 2 More Florida Banks JACKSONVILLE. Fla., July withdrawals resulted in the closing yesterday of two more Florida banks, the Brevard County Bank Trust company of Cocoa and the Melbourne State Bank of Melbourne. State department officials took charge of the institutions and closing of the banks tied up deposits of about $1,392,000.


Article from The Palm Beach Post, December 1, 1929

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Article Text

MELBOURNE STATE BANK WILL REOPEN MONDAY Tallahassee, Nov. Melbourne State Bank. which suspended sometime ago, will Comptroller Ernest Amos announced Saturday. Plans for the reopening have been under way for several and the comptroller Saturday. large banks the closing flurry ago, plans resume business shortly, the comptroller said.


Article from The Tampa Tribune, December 1, 1929

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Article Text

Melbourne State Bank To Be Reopened Monday TALLAHASSEE Nov The Melbourne which pended reopen Monday today. Plans for the have and the comptroller telegraphed his approval today large number of state banks have reopened closing flurry about four months and several others have plans under way business shortly, the comptroller said.


Article from The Bradenton Herald, December 1, 1929

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Article Text

MELBOURNE BANK REOPENS Fla., Nov. Melbourne State which suspended sometime ago, Minday, Comptroller Ernest Amos announced today. Plans for the re-opening have under way for several weeks the comptroller telegraphed approval today.


Article from Pensacola News Journal, December 2, 1929

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Article Text

BANK TO OPEN Fla., Dec. The Melbourne State Bank, which suspended sometime ago, will open Monday, Comptroller Ernest Amos today. Plans for the re-opening have under way for several weeks and the comptroller telegraphed his approval today. STORES BURN W. Va., Dec. which started the Camden theater here tonight spread to ten business in the center of Parkersburg's business section. theater, used only for legitimate production, was closed when the fire started. The population of Montreal, Canada, been set not including its suburbs.