Bank Bay Biscayne - Miami, FL

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: February 1, 1928*
Location: Miami, Florida (25.774, -80.194)

Metadata

Model: gpt-5-mini
Short Digest: 4d76eccb

Response Measures

Accommodated withdrawals

Description

The article (Lincoln Star, 1928-02-07) describes anonymous letters that prompted runs on several Miami banks. Bank Bay Biscayne is described as serving long lines and being second in withdrawals; there is no statement that it suspended or closed. Cause is anonymous letters / rumors. Date of the run is placed around late Jan/early Feb 1928 (newspaper dated 1928-02-07).

Events (1)

1. February 1, 1928* Run

Cause: Rumor Or Misinformation
Cause Details: Anonymous letters (mailed Jan 20, signed 'Hiram' with Masonic emblem) urging depositors to quietly get your money out; these letters precipitated runs on Miami banks.
Random Run: Yes
Random Run Snippet: anonymous letters: Quietly get your money out... warned bank was going soon
Measures: Banks received emergency funds brought in secretly late at night; bankers reported ample funds available.
Newspaper Excerpt: the First National bank, with the Bank Bay Biscayne second, was serving the longest lines of the nervous.
Source: newspapers

Newspaper Articles (1)

1. February 7, 1928 The Lincoln Star Lincoln, NE

Article from The Lincoln Star, February 7, 1928

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Article Text

LETTERS CAUSE BANKS TO CLOSE Feb. RapidFla., ly diminishing excitement today. which folyesterday's flurry lowing sulted from the of three Miami banks, brought state- state financiers and ments banking officials. Some withdrawak made but the lines to were being tellers' were not as long nor cages as insistent as those of yesterday State officials said they anticipated no more suspensions. really might be said E. M. as classed Porter chief state bank examiner. "Usually in such cases the excitement more intense on the secona and third day than on the first. Here the flurry seems to have died out funds had been reEmergency ceived by practically every institution town. No accurate timate of the total sent in could be made. but bankers' guesses from 000 to $10. 000,000. The funds were brought in secretly late at night plenty of money was the only comment bankers would they make don't see should want it, but if they do they can get the case yesterday the First National bank. with the Bank Bay Biscayne second. was serving the longest lines of the nervous. Both are said in financial circles to among the strongest institutions in the state. Fla. Feb. cial circles in this city today were reacting from the cumulative effects "more than dozen" anonymous letters which precipitated suspension of one bank's business. brought on temporary closing for two others and were responsible for an orderly but determined run on a fourth institution. Meanwhile, police sought the myserious author of an number of mailed January 20 in Miami, signed "Hiram, and adorned crudely drawn Masonic emblem. "Quietly get your money out of the Southern Bank & Trust company: is going soon," these letters said. in varying language, but similar substance. Results these missives today had included: Taking over the Southern Bank