2412. Bank Allapattah (Miami, FL)

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: February 6, 1928
Location: Miami, Florida (25.774, -80.194)

Metadata

Model: gpt-5-mini
Short Digest: ab6e8c9d

Response Measures

None

Description

Bank Allapattah was one of three small Miami banks ordered closed by the State Comptroller after anonymous letters (signed 'Hiram') circulated predicting failure. The closing was temporary and articles state plans/projections for reopening (mid-March), and that the closures were caused by the anonymous notes rather than intrinsic insolvency. A separate run occurred on the First National Bank, but that was a different institution.

Events (1)

1. February 6, 1928 Suspension

Cause: Rumor Or Misinformation
Cause Details: Circulation of anonymous letters signed 'Hiram' (with a crudely drawn Masonic emblem) advising depositors to withdraw funds and predicting failure; police sought the writer. Comptroller Amos ordered the small banks (including Bank Allapattah) to close to prevent disastrous runs. Articles state planned reopening in March (temporary suspension).
Newspaper Excerpt: They were the Southern Bank and Trust Company, the Citizens Bank and the Bank Allapattah. ... Amos ordered the other institutions to open in the belief that they were financial position withstand large withdrawals which might result from excitement incident the closing the Southern Bank and Trust company.
Source: newspapers

Newspaper Articles (11)

1. February 6, 1928 The Daily Record Long Branch, NJ

Article from The Daily Record, February 6, 1928

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WILL CONVENE TONIGHT Civil Service "Ripper" Bill Ready For Final of Personnel of Banking Department Committee Due Trenton, Feb. the civil service "ripper" bill ready for final passage tonight in the senate, announcement of the personnel of the banking department committee due, and the Davis bill to divide the costs of grade crossing eliminahearing tion for this the fifth week of the present legislature begun today. An exact cast of the vote on the bill to take Camden, Elizabeth and Trenton away from the supervision of the State Civil Service Board and permit the governing bodies of these municipalities to name their own commissioners to operate the merit system, could not be made here Circulation of Anonymous early today, but thought that the Camden Republican organization tersi Concerning Southern has probably rounded up enough votes to jam the measure across in Bank Starts Trouble. the branch of the legislature upper send to the house, probably Miami, Fla., Feb. (Associated to become source of annoyance to determined run on the the majority that body for the First National Bank began during of the present session. noon hour today following the failure Senate President Stevens, of Mon three other Miami financial instimouth, and Speaker of the House tutions to open for business today. Middlesex, have had Hanson, They the Southern Bank practically week in which to deTrust Company, the Citizens Bank cide on their respective appointees and the Bank Allapattah. the banking department probe The Southern Bank Trust Co. committee. There are to be three requested Comptroller Amos to senators and three members sume charge of its affairs pending assembly and in some quarters specstrengthening of finances, following has narrowed down the field ulation heavy of deposits caused prospective appointees until by circulation of anonymous letters has been claimed by persons propredicting its failure. fessing know that the senators Mr. Amos ordered other institube named are Abell, of Morris, tions to in the belief that not open Pierson, of Union, Republicans, and they were in financial position Democrat, Sussex. The Cole, withstand large withdrawals which may include house might result from excitement inciRepublican Floor Leader Gabrielson, dent the closing of the Southern Assemblyman Leap, of Essex, Bank Trust Co. Under normal Salem, the Republicans, and conditions they could operate, he Democrat unknown said, adding that there had been no Both the senate and house will sign of either place. here tonight. This afIn announcing that the Southern ternoon the joint committee on railBank Trust Co. had suspended roads canals which Senator business but would re-open March Davis, of Gloucester, is the chairand that the state had will hearing on his bill taken charge at the request of its which would require the state and officials, President Lummus said the interested counties or municipublic statement that "large palities to share with the railroads mands for cash during the last few the costs of removing dangerous days had been caused by anonymous grade crossings. letters written to depositors and (Turn Third Page, Please)

2. February 6, 1928 The Plain Speaker Hazleton, PA

Article from The Plain Speaker, February 6, 1928

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SUSPEND Heavy Withdrawals Occur Following Anonymous Letters Predicting Failure. MIAMI, Miami banks failed open for today. They were the Southern Bank and Trust Company, the Citizens Bank, Bank Allapattah. Anoynmous Letters. The Southern Bank and Trust Company requested Comptroller Amos assume charge its fairs pending strengthening of nances, following heavy deposits caused by circulation anonymous letters predicting failure. Amos ordered the other Institutions to open in the belief that they were financial position withstand large withdrawals which might result from excitement incident the closing the Bank and Trust Company. Under normal conditions could operate, said. adding that there no sign of either place. announcing that the Southern Bank and Trust Company had pended business but would reopen March and that the troller taken charge the quest officials, President Lummus said in public statement that demands for cash durthe last few days had been caused by letters writdepositors and advising them quietly get your money out the Southern Bank. The letters. he said, were signed "Hiram" and bore crudely drawn Masonic emblem. mailed Saturday Jan. in Miami. but Lummus was unable to estimate their number, more accurately than there were than dozSome who not depositors, he added. Police are seeking to trace the sender. Lummus said that deposits in accounts and trust funds were protected. Other banks reported unusual withdrawals. Run On Other Bank. determined run the First National Bank began during the hour. The bank's large lobby accommodated all who sought to gain admittance up 12:30. Other large banks reported business conditions. Officers the First National Bank mingled with the crowd in the lobby and could not be reached mediately for statement. The bank's regular closing time

3. February 6, 1928 The North Adams Transcript North Adams, MA

Article from The North Adams Transcript, February 6, 1928

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Two Request Comptroller to Take Charge Following Heavy Withdrawal of Funds. Miami, Fla., Feb. Three Miami banks failed to open for business today. They were Southern Bank Trust Company, the Citizens Bank and the Bank Allapattah. The Bank and Trust Company requested Comptroller Amos assume charge its affairs pending following heavy deposits caused by circulation anonymous letters its failure. Mr. Amos ordered the other instithe belief they were not position large withdrawals which might from excitement incldent closing the Southern Bank and Trust company. Under normal conditions they could operate he said, adding that there had been no sign of run either place. Run on Another Bank Miami, Feb. determined run on the First National bank gan during the noon hour today lowing the failure three other ami financial institutions to open for business today. The bank's large lobby dated all who sought to gain admittance up to Other large banks reported norbusiness Officers the First National bank mingled with the crowd in the lobby could not reached immediatefor statement. The bank's ular closing time

4. February 6, 1928 New Britain Herald New Britain, CT

Article from New Britain Herald, February 6, 1928

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Southern, Citizens and Institutions Bar FIRST NATIONAL Withdrawal of Deposits Results in Comptroller Amos Closing Others to Stop Rush to Get Money. Feb. million dollars in cash will sent the First Nationnal bank by the Federal Reserve bank branch Jacksonville by airplane and train pay all depositors who wish to withdraw their funds, officials of the Miami institution announced this afternoon following the bank growing the closing three other local financial tions this morning. Fla., Feb. Miami falled for busitoday. They the Southern Bank Trust Citizens Bank, and the Bank Allapattah. Comptroller in Charge. The Southern Bank and Trust Company requested Comptroller Amos assume charge affairs pending strengthening finances, following heavy withdrawal of posits caused by circulation anonymous letters predicting failure. Amos ordered the other institutions open the that they were financial posttion withstand large withdrawals might result from excitement incident closing the SouthBank Trust Company. Unnormal conditions they could adding that there had been no sign of at either place. In announcing that the Southern Bank Trust company pended business would reopen March 15, and that the state troller had taken charge the quest officials, President Lummus in public statement that "large demands for cash during last days had been caused by anonymous letters writdepositors and them quietly your money out (Continued on Page 13)

5. February 6, 1928 Muskogee Times-Democrat Muskogee, OK

Article from Muskogee Times-Democrat, February 6, 1928

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MIAMI, FLA., BANKS CLOSED; RUN ON FOURTH Large Lobby Crowded by Excited Depositors million dollars cash will be sent to the First National Bank by the Federal Reserve bank Jack sonville by airplane and train to pay all depositors who wish to with. draw their funds, officials of the local institution announced this afternoon following an orderly run on the bank growing out of the closing of three other local financial institutions this morning. MIAMI, Fla., Feb. 6-(P)-A determined run on the First National bank began during the noon hour today following the failure of three other Miami financial institutions to open for business today. The bank's large lobby accommodated all who sought to gain admit tance up to Officers of the First National bank mingled with the crowd in the lobby and could not be reached immediately for statement. The bank's regular closing time was The three closed banks were the Southern Bank and Trust company. the Citizens bank and the Bank Allapattah. LICENSED TO WED Marriage license issued: John Hughes, 24. and Eula Acree, 21, both Muskogee. BANK TRANSACTIONS Bank transactions for Monday were $571,047.

6. February 7, 1928 Freeport Journal-Standard Freeport, IL

Article from Freeport Journal-Standard, February 7, 1928

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land. bake BANKS OF CITY SECURE LARGE AMOUNTS OF CURRENCY Meanwhile Authorities are Looking for Letter Writer Who Caused Flurry Miami. diminishing today follow. flurry which resultfrom closing three Miami banks brought statements from financiers and state banking officials. Some made but the lines tellers' not long as Insistthose of yesterday Seeking Letter Writer Meanwhile. police sought the mysnumber of letters mailed January in Miami, signed "Hiram," adorned crudely drawn Ma. sonie emblem. "Quietly your money the Southern Bank and Trust company. going these letters said, varying language, but similar substance. Results of these missives included: the Southern Bank Trust company by State Comp. Ernest Amos the instance bank stimulated to this step by heavy withdrawals. Orders by Comptroller Amos that the Citizen's Bank and the Bank Allapattah, small Institutions, temporarily close possible ruins. Run Big Bank on the First National Bank which kept tellers busy until closing time handing money depositors they demanded it. Other stitutions the city today had prepared for their possible part the emergency. Increased supplies currency had been requisitioned. Nearly all of them experienced slight withdrawal increases early yesterbut several reported later that deposits showed the City National announcing $400,000 boost.

7. February 7, 1928 The Brooklyn Daily Times Brooklyn, NY

Article from The Brooklyn Daily Times, February 7, 1928

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$5,000,000 SENT TO FLORIDA BANK First National of Miami Takes Precautions After Three Institutions Close. By United Miami, Fla., Feb. More than in cash was being brought into Miami today to assure depositors of the First National Bank of the security of that institution, after three other banks closed their doors yesterday. There were slight runs on the First National Bank yesterday, after the other banks had closed following heavy runs. but were not serious. One million five hundred thousand dollars was brought in by airplane from the Jacksonville Federal Reserve Bank yesterday and the additional 5,500,000 was being brought by train today The three banks that closed yesterday blamed the runs on anonymous notes sent to depositors attacking the safety of the Southern Bank and Trust Company. The notes were signed "Hiram" and authorities today searched for the man responsible for the notes When the Southern Bank and Trust Company failed to open its doors there runs on the Citizens Bank of Miami and the Bank of E. Lummus. president of the Southern Bank and Trust Company said his bank was closed after the notes had been circulated and he thought better to place the Institution in the Ernest Amos. State Controller of Banks, rather than face run which probably would be disastrous. Shortly after assuming control. Amos issued statement in which he said he expected to have the Southern Bank and Trust Company in condition to reopen for business March Amos said the other two banks could have conducted business under normal conditions. but could not stand any run which might OCcurred result of the tense situation. The South Bank and Trust Company capitalized $100,000. and last Saturday night had deposits of $5,138,112.11 The Citizens' Bank of Miami also was capitalized at $100,000. while its deposits totaled $149.480. and the Bank Allapattah had capital stock of 000 and estimated deposits of $110,000.

8. February 8, 1928 The Brooklyn Daily Times Brooklyn, NY

Article from The Brooklyn Daily Times, February 8, 1928

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BANKS IN FLORIDA WEATHER CRISIS Police Seek Man Wrose Notes Closed Three Institutions. United Feb. police sought the writer, warned against depositing money in several Miami banks thereby caused runs that forced them close, other banks today ported th tense financial situation had eased. were withdrawals the Bank but ficials said these were savers that their reserve was in excelshape. Officials the First National than 000 brought from the Federal Bank their accounts in excellent The Southern Bank and Trust Company closed Monday after signed been passed around, warning the bank's condition. Runs Citizens Bank Miami and the Bank Allapattah to close.

9. February 8, 1928 The Brooklyn Daily Times Brooklyn, NY

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BANKS IN FLORIDA WEATHER CRISIS Police Seek Man Wrote Notes Closed Three Institutions. police sought mysterious writer. warned against money several Miami banks and thereby caused that forced them close, other banks today ported the tense financial situation There some from Bank Biscayne. but ficials that these were "penny with small and that their reserve shape Officials the First National brought in the Federal Reserve Bank at their accounts in excellent The Bank and Trust Company had closed Monday after notes signed "Hiram," had been passed warning of the bank's Runs forced Citizens Miami and Bank Allapattah close

10. February 8, 1928 Bristol Herald Courier Bristol, TN

Article from Bristol Herald Courier, February 8, 1928

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BANKS Heavy Runs Which Caused Temporary Suspension of Three Subsides Fla., Complete confidence local bank: apparently was restored today lowing flurry excitement cident to temporary closing yesterday three the city's smaller financial attributed to circulation of anonymous Runs which began on several the larger noon day started subside during forenoon then died out gether By the orderly, ing lines depositors seeking withdraw their funds had disappeared, and million dollars the Federal Reserve brought from Bank to meet possibe continued heavy today was from several of the Reports fected banks the close of businoted increases in ness officials mean which that cash withdrawn during the excitement gradually was finding its way back banks time today were the lines depositors nearly long those during the height the rush yesterday Wears Out "The thing wore itself out somebetween and 12 time said Romfh, president National Bank, which the First attracted the most determined run. "By closing time was just like other day. We've even quit any talking about now. From now limit ourselves to saying with James Gilman, president the Bank of Bay (Biscayne, the largest the city declared that the latter part of the business day nothing unusual, adding that feel was merely tem and that it done porary flurry These two institutions generally credited in financial circles with being among the strongest the Meanwhile, all three of the banks that were closed temporarily announced that plans progress for early re-opening, with State Comptroller Ernest Amos that none would have reiterating suspend had not been forced to been for anonymous letters writer of which still sought the the police. They are the Southern Bank and Trust Company, which suspended business after heavy withdrawals due circulation of the letters its failure, and the predicting Citizens Bank and the Bank Allapattah, which were ordered closed he comptroller because by fear that they might be position to possible heavy withdrawals due to the Southern suspension.

11. February 8, 1928 New Britain Herald New Britain, CT

Article from New Britain Herald, February 8, 1928

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POLICE HUNTING MYSTERIOUS NOTE WRITER Believe Anonymous Notes Caused Run or Easter Feb police sought the warned ing money Miami banks and thereby caused that forced them banks today ported the tense financial had eased There some from the Bank but said that those savers small their reserve excellent shape Officials of the First National six dollars from the federal bank their accounts excel shape the the lobby yesterday greater than other mid season rush and there probably would be need of the additional brought Southern Bank and Trust Company had closed after notes signed Hiram had been passed the bank's condition Runs Citizens Bank of Miami and the Bank Allapattah close All three taken over the depart. ment the prob. ably will re-opened March State the Citizens Bank and the Bank Allapattah good but no tion to stand