1.
February 6, 1928
Fulton Daily Sun-Gazette
Fulton, MO
Click image to open full size in new tab
Article Text
THREE BANKS FAIL TO OPEN
Miami, Fla., Feb. 6-Three banks in Miami failed to open for business today. They were: The Southern Bank and Trust Company The Citizens' Bank and the Bank of Allapattah. The Southern Bank and Trust Co., requested Comptroller Amos to assume charge of its affairs pending strengthening of its finances, following a heavy withdrawal of deposits caused by circulation of an anonymous letter predicting its failure. Miami, Fla., Feb. 6-Seven million dollars in cash will be sent to the First National Bank here by the Federal Reserve Bank in Jacksonville, by airplane and train to pay all depositors who wish to withdraw their money, officials of the institution said, following an orderly run on the bank growing out of the temporary closing of three other banks this morning.
2.
February 6, 1928
The Boston Daily Globe
Boston, MA
Click image to open full size in new tab
Article Text
RUN ON NATIONAL BANK IN MIAMI
Three State Institutions Didn't Open Today
MIAMI, Fla, Feb (A. deter. run the First National Bank began in the noon hour today, follow. the failure of the three other financial to open for ern Bank the CitiBank, and the Bank of AllapatThe bank's large lobby accommodated all sought to gain up Other large banks reported normal Officers First mingled with the the crowd in the lobby and could not The statement. bank's regular closing time
Bank Requested Action
The Southern Bank and Trust Comcharge its pending of heavy of deposits letters Mr other not to the Institu- that they withstand not position withdrawals which might result excitement the and Under normal Bank they adding that either had been no sign said, run the Southern Trust pended but reopen susMarch 15, and that the State Controlhad taken the request its officials, Pres said in public "large defew to and them get money out of the Southern Bank.
Leiters Bear Crude Emblem
The letters, he said, were signed 28, Mr Lummus their ber more than that therewere dozen. sent to persons who were not depositors, police are trying to trace the Pres Lummus that deposits accounts trust funds protected. Other reported no unusual Mr public plea for and collected the and doesn't rush the banks ought to blow over,' he "If they hammer the remaining cannot answer for the result."
3.
February 6, 1928
Greenfield Daily Recorder
Greenfield, MA
Click image to open full size in new tab
Article Text
Miami banks failed for business They the Southern Bank and Trust Company, the Citizens Bank, and the Bank of Allapattah. The Southern Bank and Trust company requested comptroller Amos assume charge fairs pending strengthening of nances, following heavy withdraw of deposits caused by circulation of letters predicting its failure. Mr. Amos ordered the other stitutions in the belief they financial position withstand large withdrawals which might result from excitement incident the closing Southern Bank and Trust Company. Under normal conditions they could operate, he said, adding that there had been sign of their run place.
4.
February 6, 1928
Pawhuska Journal-Capital
Pawhuska, OK
Click image to open full size in new tab
Article Text
MIAMI BANKS FAIL TO OPEN FOR BUSINESS
Heavy Run on Fourth Bank Bank Made by Anxious Customers Before Noon
ORDERED CLOSED
Three Banks in Failing Condition are Ordered Not to Open Doors to Public
MIAMI, Fla., Feb. 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 dated all who sought to gain admittance up to 12:30. Officers of the First National bank mingled with the crowd in the lobby and could not be reached immediatefor statement. The bank's regular closing time was MIAMI, Fla., Feb. 6. Miami banks failed to open for business today. They were the Southern bank and Trust company, the Citizens Bank and the Bank of Allapattah. The Southern Bank Trust company requested Comptroller Amos to assume charge of its affairs pending strengthening of finances, following heavy withdrawals of deposits by circulation of anonymous letters predicting its failure. Mr. Amos ordered the other institutions not to open in the belief that they were not in financial position to withstand large withdrawals which might result from excitement incident to the closing of the Southern Bank & Trust company. Under normal conditions they could operate, he said, adding that had been no sign
5.
February 7, 1928
The Atlanta Constitution
Atlanta, GA
Click image to open full size in new tab
Article Text
RUN ON MIAMI BANK FINDS ABUNDANT CASH
Miami. Fla., February ficials of the First National bank. on which run was started during the noon hour after depositors had learned that three financial institutions here failed to open for business today, announced at 2:20 m. that more than $7,000,000 would be available to pay "anybody that wants his by morning. The extra funds, was announced, are being by train from the Fed eral Reserve bank branch in Jacksonville. The doors closed at 2 m. with plenty money still in sight in telTemporary closing of the three banks was because of circulation of anony mous letters advising withdraw their funds from the South ern Bank and Trust company. Taking charge affairs of the Bank and Trust at the of its officials, State Comptroller Ernest the Citizens bank and the Bank Allapatiah not open in the belief that they might not be able to withstand possible large withdrawals. While police sought the sender of the notes which were responsible for the of them. varying in phraseology, were One note read: "Quietly get your money out of the Southern Bank Trust company. It is going soon. (Signed) Hiram.' E. C. Romfh, president of the First announced at closing time that total amounted $350,000. only about the already available said there were a number of large deposits. The crowd dispersed immediately after the closing of the doors at The withdrawals were mostly small accounts. No other banks in the city were affeeted the situation. W. H. Burwell, president of chamber commerce, attributed "whole to outside influences and not any intrinsie fault in the institutions or in territory He said the would consider the situation at meeting tonight. Asserting belief that all the closed banks reopen shortly that there will be serious from the Mr. Burwell the persons are their money "ean only injure themselves and do nobody any good. Meanwhile. the police were seeking the author of the anonymous letters which some instances were signed simply "Hiram, and which orated drawn Masonic 28. in not depositors in the Southern Bank & Trust company. President E. Lummus, of the Southern bank, held the letters for his bank which period several days and the bank had been forced state He issued public statement which said the bank would he reopened March 15. and deposits and trust funds were fully The Citizens bank and the Bank of Allapattah were small institutions, the one on the edge of the business distriet, the other in the suburbs. and capitalized at $100,000 and $15,000 While the Southern Bank & Trust was $100,000. it had $5,138,112 in deposits, officials said.
6.
February 7, 1928
Republican and Herald
Pottsville, PA
Click image to open full size in new tab
Article Text
MONEY TAKEN TO MIAMI TO SAVE BANKS
Miami, Fla., Feb. 7. (U.P.) More than $5,000,000 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 Jacksonville Federal Reserve Bank yesterday and the additional $5,500,000 was being brought by train today. The three banks that closed yes. terday 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 were runs on the Citizens' Bank of Miami and the Bank of Allapattah. J. E. Lummus, president of the said his bank was closed after the notes had been circulated and he thought it better to place the insti tution in the hands of Ernest Amon, State Comptroller of Banks, rather than face run which probably would be disastrous. The Southern Bank and Trust was capitalized at $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 totalled $149,480, and the Bank of Allapattah had capital stock of $15,000 and estimated deposits of $110,000.
7.
February 7, 1928
Napa Journal
Napa, CA
Click image to open full size in new tab
Article Text
AIRPLANE USED
TO RUSH FUNDS TO RELIEVE SITUATION
Citizens Wage Run on Banks; Money Coming From Jacksonville to Reassure Depositors
MIAMI, Fla., Feb. 6 (UP).-A million and a half dollars in cash was being rushed to Miami by airplane today to relieve a tense situation which developed when three banks closed this morning. Failure of the Southern Bank & Trust Company, one of the largest in the state, to open for business caused runs on the Citizens Bank of Mami, and the Bank of Allapatiah which forced them to close a few hours later.
The money was being brought by plane to the First National Bank of Miami from the Jacksonville Branch of the Sixth District Federal Reserve Bank. The First National Bank of Miami suffered slight runs when the three banks closed and the money was being brought here to reassure depositors. E. C. Rofh, President of the First National, said his institution had felt no III effects from the situation.
Rofh said he was expecting another $5,500,000 to arrive by train Tuesday morning. The First National Bank had on hand $1,750,000 in cash this morning, and Rofh said that the two shipments enroute here will enable it to continue business easily.
J. E. Lummus, President of the Southern Bank & Trust Company. said circulation of anonymous letters attacking his bank had caused an unexpected run on the institution which resulted in its failure to open. Ernest Amos, State Comptroller, took charge of the Southern Bank & Trust Company. Amos claimed its failure to open had caused runs on the Citizens Bank of Allapattah. which they were not able to withstand.
5,000 DAILY JOURNAL READERS
Venerable and Beloved Pioneer of Napa County's Demise Comes After More Than 50 Years' Residence Here
After having been a resident in Napa County for more than 50 years, during which she built around her during which time she built around her a host of admiring and loving friends, Mrs. Anna Dollarhide, a most prominent resident of this community. was taken by death at the family home on Pine street following an illness of but a week's duration, at 11:15 o'clock last night. \ woman of highest character, kindly and generous. the news of her sudden death will come with a shocking suddeness to the many friends of herself and family throughout the Napa Valley. Mrs. Dollarhide was born in Mis. souri, July 26. 1851. When but 15 months old she journeyed to Oregon where she resided for but few years before coming to Napa County, having first establ'shed her residence in Pope Valley. Deceased was the widow of the late A. J. Dollarhide. who passed away in 1894. himself a man of great prominence in this community. Left to mourn her loss are two daughters. Miss Winefred Dollarhide, of Napa. and Mrs. Herbert Whitton of Santa Rosa: one son. Deputy County Clerk R. A. Dollarhide of Napa: two sisters. Mrs. Rosella Bowen of Alhambra, and Miss Genelle Boothe of Los Angeles: and one brother. C. A. Boothe of Hollywood. The remains are at the Webber Funeral Parlors. The time for the funeral services has not been arranged as yet and will be announced later.
8.
February 7, 1928
The Spokesman-Review
Spokane, WA
Click image to open full size in new tab
Article Text
"VENGEFUL PEN" CLOSES BANKS
Anonymous Letters Cause Three Miami Houses to Shut Their Doors.
FOURTH IS HARD HIT
Run on Unaffected Bank Takes Out $350,000, but Storm IN Finally Weathered.
(P)-Anonypredicting the failure caused that institution here today, sulted the closing of brought about on fourth which called for from federal rebranch bank Jacksonville to bolster its cash reserves but started at noon on the First National bank, Erest Amos, state comptroller, had taken charge of the affairs of the Southern Bank and Trust company ordered the Citizens' bank and the Bank of Allapattah temporarily closed. Letters Caused Action. Explaining he had taken control at the Southern Bank and Trust company at the Instance of its officials because of withdrawals, caused by the of the letters, Amos said he ordered the other two banks closed through fear they might not be able to weather possible runs. He made plea for and public claring that the banks would have been able remain open under mal conditions the was felt in quarter when the run quietly was begun at the First National Until closing time the tellers were rapidly handing out depositor demandit, while officials of the institution mingled the spread was the lobby the holding about 250 persons, crowded beyond its
Plenty of Cash Due. Officials estimated that began with cash, about $350,000 was paid out the the bank closed the regular of officials nounced event the renewed would more than in cash and No other bank in the city was H. president the to outside and not any fault in Institutions or in territory president of the tonight federal had vetoed plan to send part of the cash here by of the money would be by train tonight and the remainder to.
9.
February 7, 1928
The Spokesman-Review
Spokane, WA
Click image to open full size in new tab
Article Text
VENGEFUL PEN" CLOSES BANKS
Anonymous Letters Cause Three Miami Houses to Shut Their Doors.
FOURTH IS HARD HIT
Run on Unaffected Bank Takes Out $350,000, but Storm Is Finally Weathered.
Fla., Feb. 6. mous letters predicting the failure one bank caused that to business sulted indirectly the temporary closing of and brought about on fourth called for $7,000,000 from the federal reserve branch bank at Jacksonville to bolster its cash The determined but orderly started at noon on the First National bank, following announcement that Erest Amos, state comptroller, taken charge of the affairs of the and Southern and Trust ordered the Citizens' bank and closed. the Bank of Allapattah temporarily
Letters Caused Action. Explaining he had taken control at the Southern Bank and Trust com. pany at the instance of its officials because of withdrawals, caused by the circulation of the anonymous letters, Amos said he ordered the other two banks closed through fear they might not be able to possible runs. He made plea for cool and public spirit," de. claring that the banks would have been able to remain open under normal the was felt in an quarter when the run quietly was begun at the First National Until closing time the tellers were rapidly handing out money to every depositor demanding it, while officials of the institution mingled with the crowd to spread At no time was the lobby of the bank holding about 250 persons, crowded beyond capacity
Plenty of Cash Due. Officials estimated that the day began cash, and that only $350,000 was paid out the day When the bank closed for the day's business the regular closing time o'clock officials calmly nounced that, in event the run was renewed they would have more than in cash and would meet every No other in the was H. president of the chamber of attributed the to outside influences and not to any Intrinsic economic fault in the institutions or in the territory Romfh, president of the First inounced tonight that the Jacksonville federal reserve vetoed plan to send part of the cash here by but that part the money would be by train tonight and the remainder to-
10.
February 7, 1928
St. Louis Globe-Democrat
St. Louis, MO
Click image to open full size in new tab
Article Text
Three Miami Banks Close After Letters Predict Failure
$7,000,000 Called in by Fourth to Meet Heavy, Run.
By Associated Press. MIAMI, FLA., February 6.Anonymous letters predicting the failure of one bank caused that institution to suspend business here today. resulted indirectly in the temporary elosing of two others, and brought about a run on a fourth which called for $7,000,000 from the Federal Reserve Branch Bank in Jacksonville to bolster Its cash reserves. The run, determined but orderly, started at noon on the First National Bank, following announcement that Ernest Amos, State Comptroller. had taken charge of the affairs of the Southern Bank and Trust Company and ordered the Citisens' Bank and the Bank of Allapattah temporarily closed.
"Be Cool." Explaining he had taken control at the Southern Bank and Trust Company at the instance of its officials because of withdrawals caused by the circulation of the anonymous letters, Amos said he ordered the other two banks closed through fear they might not be able to runs. He made plea for "a cool and collected public spirit," declaring that the banks would have been able to remain open under normal conditions. Meanwhile, the reverberation was felt in an unexpected quarter, when the run quietly was begun at the First National. Until closing time the tellers were rapidly handing out money to every depositor demanding it, while officials of the institution mingled with the crowd to encouragement. At no time was the lobby of the bank. holding about 250 persons, stowded beyond its capacity 9fficials estimated that the day began with $1,750,000 cash and that only about $350,000 was paid out during the When the bank closed for the day's business at the regular closing time of o'clock, officials calmly announced that, in event the run was renewed they would have more than $7,000,000 in cash and would meet every demand. They said airplane was bringing $1,500,000. and that the rest of the money would be sent from Jacksonville by train. No other banks in the city were affected. W. H. Burwell, president of the Chamber of Commerce, attributed the "whole situation to outside influences, and not to any Intrinsic economic fault in the institutions or in the territory."
Cash by Rail.
E. C. Romfh, president of the First National, announced later that the Jacksonville Federal Reserve branch had vetoed the plan to send part of the cash by airplane but that part of the money would be dispatched by train tonight and the remainder tomorrow. "Though we won't need it." he added, haracterizing the run as temporary flurry attributable to the other closings, which will diminish as people see the lack of need for withdrawing their funds."
11.
February 7, 1928
The Evening News
Harrisburg, PA
Click image to open full size in new tab
Article Text
TO MIAMI WHEN 3 BANKS CLOSE
United
MIAMI, Florida, Feb. than $5,000,000 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, ter the other banks had closed lowing heavy runs, but they were not serious. One million five hundred thousand dollars was brought my airplane from Jacksonville Federal Reserve Bank yesterday and the additional $5,500,000 was being brought by train today. The three banks that closed yesterday the runs on anonymous notes sent. to attacking the safety of the Southern Bank Trust Company. The notes were signed "Hiram' and authorities today searched for the man responsible for the notes. Other Runs Start When Southern Bank Trust Company failed to open doors there runs on the Citizens Bank of Miami and the Bank of Allapattah.
12.
February 7, 1928
Fort Worth Record-Telegram
Fort Worth, TX
Click image to open full size in new tab
Article Text
LETTERS CAUSE 'RUN' ON BANK
Associated
MIAMI, Fla., Feb. 6.-Anonymous letters predicting the failure of one bank caused that institution to suspend business here today, resulted indirectly in the temporary closing of two others and brought about a run on a fourth which called for $7,000,000 from the Federal Reserve branch bank in Jacksonville to bolster its cash The run, determined but orderly, started at noon on the First National Bank following announcement that Ernest Amos, State Comptroller, had taken charge of the affairs of the Southern Bank and Trust Company and ordered the Citizens Bank and the Bank of Allapattah temporarily closed. Explaining he had taken control at the Southern Bank and Trust Company at the instance of its officials because of withdrawals, caused by the circulation of the anonymous letters, Amos said he ordered the two other banks closed through fear they might not be able to weather possible runs. He made plea for "a cool and collected public spirit," declaring that the banks would have been able to remain open under normal conditions. Meanwhile the reverberation was felt in an unexpected quarter when the run quietly was begun at the First National. Until closing time the tellers were rapidly handing out money to every depositor demanding it while officials of the institution mingled with the crowd to spread encouragement. At no time was the lobby of the bank, holding about 250 persons, crowded beyond its capacity. Officials estimated that the day began with $1,750,000 cash and that only about $350,000 was paid out during the day. When the bank closed for the day's business at the regular closing time of 2 o'elock, officials calmly announced that, in event the run was renewed tomorrow, they would have more than $7,000,000 in cash and would meet every demand. They said an airplane was bringing $1,500,000 and that the rest of the money would be sent from Jacksonville by train. No other banks in the city were affected.
13.
February 7, 1928
The Modesto Bee
Modesto, CA
Click image to open full size in new tab
Article Text
PLANE RUSHES MILLION AND HALF DOLLARS TO FLORIDA
Money Being Sent South To Reassure Depositors, Says Official
BANK FAILURE CAUSES RUN ON TWO OTHERS
Circulation of Anonymous Letters Blamed For Act, By President
(By The United Press) MIAMI. Feb. million dollars cash was ing rushed Miami airplane to-day tense situation when three banks closed this Failure the Southern Bank and Trust one the the state, to open for runs on the Citizens Bank of Miami and the Bank of Allapattah which forced them close hours later. Run On Banks The money being brought plane the First National Bank of Miami from the Jackson. ville branch of the sixth district federal reserve bank. The First National Bank of Miami suffered slight runs when the closed the money was being brought here depospresident of the First National, said his had felt no effects from situation. Romfh said he was expecting another arrive by train morning. The National Bank had hand $1. in cash this morning. and Romfh that the two shipments route here will enable continue Laid To Attack Lummus. president of the Southern Bank Trust company, said circulation of anonyletters attacking his bank had caused an unexpected run on institution which resulted in its failure to open Police Hunt Sender The letters. he said, were signed "Hiram," and bore crudely emblem. They were mail Saturday January 28 in Miami. but Lummus was unable to estimate their number. more ac curately than that there were "more than dozen Some were sent persons who were police are seeking to trace the sender. President Lummus said the deposits open accounts and trust funds were fully protected Ernest Amos, state comptroller, took charge the Southern Bank and Trust company Amos claimed failure open had caused runs the Citizens Bank and the Bank Allapattah which they not able to withstand
14.
February 7, 1928
The Klamath News
Klamath Falls, OR
Click image to open full size in new tab
Article Text
Rush Gold South By Plane To Aid Distressed Banks
MIAMI, Fla., Feb. 6. (UP) A million and a half dollars in cash was being rushed to Miami by airplane today to relieve a tense situation which developed when three banks closed this morning. Failure of the Southern Bank and Trust Company, one of the largest in the state. to open for business caused runs on the eitizens bank of Miami and the Bank of Allapattah which forced them to close a few hours later. The money was being brought by plane to the First National Bank of Miami from the Jacksonville branch of the Sixth district Federal Reserve bank. The First National bank of Miami suffered slight runs when the three banks closed and the money was being brought here to reassure depositors. E. Rofh, president of the First National, said his institution had felt no ill effects from the situation. Rofh said he was expecting another $5,500,000 to arrive by train Tuesday morning. The First National bank had on hand $1.750 in cash this morning. and Rofh said that the two shipments enroute here will enable it to continue business easily. Letters Responsible J. E. Lummus, president of the Southern Bank and Trust Company. said circulation of anonymous letters attacking his bank has caused an unexepected run on the institution which resulted in its failure to open. Ernest Amos, state comptroller. took-charge of the Southern Bank and Trust Company. Amos claimed its failure to open had caused runs on the Citizens bank and the Bank of Allapattah, which they were not able to withstand.
15.
February 8, 1928
New Britain Herald
New Britain, CT
Click image to open full size in new tab
Article Text
MIAMI POLICE HUNTING MYSTERIOUS NOTE WRITER Believe Anonymous Notes Caused Run or Bank-Situation is Easter Miami, Fla., Feb 2 (UP)-As police sought the mysterious note writer, who warned against depositing money in several Miami banks and thereby caused runs that forced them to close. other banks today reporte1 the tense financial situation had eased There were some withdrawals from the Bank of Biscayne but officials said that those were by "penny savers with small accounts and that their reserve was in excellent shape Officials of the First National Bank-who had more than six million dollars brought in from the federal reserve bank at Jacksonville --said their accounts were in excellent shape They said the crowd in the lobby yesterday was no greater than at any other day of a midseason rush and there probably would be no need of the additional cash brought in The Southern Bank and Trust Company had closed Monday after notes signed "Hiram" had been passed around. warning of the bank's condition. Runs forced the Citizens Bank of Miami and the Bank of Allapattah to close All three institutions were taken over by the state banking department and the Southern Bank probably will be re-opened about March 15. State examiners said the Citizens Bank and the Bank of Allapattah were in good shape but in no condition to stand a run
16.
February 8, 1928
Republican and Herald
Pottsville, PA
Click image to open full size in new tab
Article Text
THE FINANCIAL SCARE AT MIAMI HAS EASED UP
Miami, Fla., Feb. 8. (U.P)-As police sought the mysterious note writer who warned against depositing money in several Miami banks and thereby caused runs that forced three to close other banks today reported the tense financial situation had eased. There were some withdrawals from the Bank of Biscayne, but officials said these were by "penny savers with small accounts" and that their reserve was in excell nt shape Officials of the First National Bank had more than six million dollars brought in from the Federal Reserve Bank at Jaeksonville-said their accounts were in excellent shape They said the crowd in the lobby yes. terday was no greater than at any other day of mid-season rush and there probably would be no need of the additional cash brought in. The Southern Bank and Trust Company had closed Monday after notes signed "Hiram" had been passed around. warning of the bank's condition Runs forced the Citizens Bank of Miami and the Bank of Allapattah to All three institutions were taken over by the State Banking Department and the Southern Bank probably will be reopened about March 15. The State Examiners said the Citizens Bank and the Bank of Allapattah were in good shape, but in no condition to stand run.
17.
February 8, 1928
Evening Courier
Camden, NJ
Click image to open full size in new tab
Article Text
CRISIS
Police Renew Search for NoteWriter Who Brought Needless Run
Miami, Fla., Feb. 8, polsought who in several Miami and thereby money runs that forced close, other banks today reported the tense financial situation had eased. There were withdrawals the Bank of Biscayne, but officials said these by "penny with and that their reOfficials the First shape. Bank had than $6,000,000 brought in from the Federal Reserve at their acThey said the in the was no greater any other day rush and probably would be no need of the additional cash brought The Southern Bank and Trust Comclosed Monday after signed "Hiram" had been passed the bank's condition. the of Miami and the Bank of Allapattas to close. All three institutions were taken over by banking department and Southern will be March 15. State said the Citizens and the Bank of in good shape, but in no condition to stand run.
18.
February 8, 1928
The Brooklyn Citizen
Brooklyn, NY
Click image to open full size in new tab
Article Text
RESERVES OF MIAMI BANKS EASE TENSION
Three Banks Forced to Close by Sudden Run Will Reopen
MIAMI, Fla., Feb. 8 (United Prese). police sought the mysterious note writer, who warned against depositing money in several Miami banks and thereby caused runs that forced three to close, other banks to-day reported the tense financial situation had eased. There were some withdrawals from the Bank of Biscayne but officials said that these were by "penny savers with small accounts and that their reserve was in excellent shape. Officials of the First National Bank who had more than six million dollars brought in from the Federal Reserve Bank at Jacksonville-sa their ac counts were in excellent shape They said the crowd in the lobby yesterday was no greater than at any other day of a mid-season rush and there probably would be no need of the additional cash brought in. The Southern Bank and Trust Com pany had closed Monday after notes signed "Hiram" had been passed around. warning of the bank's condition. Runs forced the Citizens' Bank of Miami and the Bank of Allapattah to close. All three institutions were taken over by the State Benking Department. and the Southern Bank probably will be 10. opened about March 15. State exam iners said the Citizens' Bank and the Bank of Allapattah were in good shape. but in no condition to stand a run.
19.
February 10, 1928
The American Guardian
Oklahoma City, OK
Click image to open full size in new tab
Article Text
Letter Predicting Failure Starts Run banks their and fourth the throes on it the result of ure of the National here. The run started on the First tional Bank following word Ernest Amos, affairs Southern Bank and Trust ordered the Bank Bank Allapattah temporarily closed. Explaining he had taken control the and Trust the of its Company ficials because of by the circulation Amos said anonymous ordered the they might not through fear weather possible National with The First of from the several millions Federal Reserve was