2418. Bank of Bay Biscayne (Miami, FL)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: June 11, 1930
Location: Miami, Florida (25.774, -80.194)

Metadata

Model: gpt-5-mini
Short Digest: 5fc4c77e

Response Measures

Borrowed from banks or large institutions, Public signal of financial health, Full suspension, Books examined

Other: Directors voluntarily closed the bank (with consultation of state comptroller) to protect depositors after substantial withdrawals; significant litigation followed and state liquidation/receiver actions were pursued.

Description

Multiple contemporaneous articles report heavy withdrawals (runs) June 11, 1930 that prompted directors not to open the Bank of Bay Biscayne and three affiliated institutions. The bank remained suspended and depositors and creditors later pursued receivership litigation; federal suits sought a receiver (June 24 onward) though federal appointment was contested. I classify this as run → suspension → closure (permanent failure/suspension with receivership litigation).

Events (3)

1. June 11, 1930 Run

Cause: Rumor Or Misinformation
Cause Details: Depositor 'nervousness' and 'unfavorable talk' triggered substantial withdrawals from the bank and affiliated institutions; articles describe heavy withdrawals and 'recent substantial withdrawals' as the immediate cause.
Measures: Directors decided not to open the bank for business 'for protection of depositors'; cash ($2,000,000 by airplane and additional Federal Reserve funds) was rushed to Miami to reassure other banks.
Newspaper Excerpt: The Bank of Bay Biscayne ... closed today after heavy runs.
Source: newspapers

2. June 11, 1930 Suspension

Cause: Rumor Or Misinformation
Cause Details: Bank was closed by directors (failed to open) in response to runs/withdrawals and depositor panic (unfavorable talk); action taken after consultation with state comptroller to 'protect depositors.'
Newspaper Excerpt: failed to open for business Wednesday. ... directors ... decided not to open this bank and its affiliated institutions ... because of recent substantial withdrawals.
Source: newspapers

3. June 24, 1930 Receivership

Newspaper Excerpt: Claims that the officers of the Bank of Bay Biscayne knew it was insolvent nine days before it was closed ... asked that a receiver be appointed by the court to take charge of the bank's assets ... petitioners asked that a receiver be appointed by the court and take charge of the bank's assets and issue a detailed inventory and appraisal of assets and liabilities. (June 24, 1930 article.)
Source: newspapers

Newspaper Articles (25)

1. June 11, 1930 Morning Pioneer Mandan, ND

Article from Morning Pioneer, June 11, 1930

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Hot News Briefs By The Associated Press LaFollette urging defeat the tariff bill calls plete betrayal Hoover's pledge limited revision give culture equity with industry.' Additional equipment was sent blazing forest gions near Port Arthur, Ont., striving to check numerous Dry weather has caused fires to break out Advance arrived Stillwater the convention the North Dakota Auxiliary. Unable to save feet timber Birch Lake, miles east Prince Albert, Sask., forestry officials ed fire fighters to other where there chance to check the wildfire. The Inland today charged ful practice in house service shippers ing the water Mrs. Walburga Oesterreich, wealthy widow Los Angeles, today granted separate trial from "attic Otto she jointly indicted for the murder of her husband. Several hundred women worn five days the biennial the Nation Federation Clubs, sought rest retreats today. Sessions will be resumed Thursday. There are women at Valley City from Cass Barnes and counties enrolled the first Homemakers Club camp The Civil War closed In 1865. Today there were just War veterans North Da. kota left to attend the annual meeting the which today Valley City, The Relief however, had 129 registered. the Minnesota Lutheran district the Evangelijoint Synod Ohio other opened today St. Paul. Plans are being perfectthe Ohio, Iowa Buffalo Synods. George Kirk, 64, commandof Knights Templar, Bemidji, died his home in Bemidji, Minn., today. Donald Cash, 14 year old Mapes since Fri day when he thrown from showed improvement today More than broadcasting tions participate in the broad the Thursday night. Mrs. Alice Eikor, 74, niece of Gen. Robert Lee, died last night in Oklahoma City. Chief Justice and Mrs. Hughes daughter Elizabeth, sailed toon the Leviathan for southern Europe. fell over territory stretching from Wilton to Underwood and the nity Van Hook yesterday. In addition heavy rains fell area between Mandan and Dickinson. Dr. Ernesto Rossi, Italian wine taster manufacturer, foreign visitor who under stand objection strict pro hibition enforcement. His opinion based after drink bootleg wine. Funeral services be held Edmore, tomorrow for Hans Myhre, 59, who succumbed Sunday injuries ceived fall off grain tank during runaway last week. Four deputy sheriffs of Sedgwick county Kansas, arrested day charges of violate the prohibition Mrs. C. Bohmbach, wife Red Wing, Minn., alderman, found dead the cistern her home today. She been ill for several years. North Dakota Laundry Own convene Devils Lake, with expected. shortage of $308,000 the First National Bank at Chey. bongone, Mich., Clyde Milliken, savings teller committed Monday will be paid in full to depositors. Chief of Police Henry C. Knipe, Kans., arrest under federal for violating prohibition laws. The Bank of Bay Biscayne, Miami, with $15,000,000 deposits and three affiliated banks, closed today after heavy runs. June fishing schooner Rainbow arrived Boston fish day with of the bodies of the disaster The bodies, recovered scene last night's those seven men, two women, and baby French inventor's home heavily bar pivoted to that an arm and same time.

2. June 11, 1930 Lexington Herald-Leader Lexington, KY

Article from Lexington Herald-Leader, June 11, 1930

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FIVE BANKS IN CLOSE Miami Institution And Three Of Its Subsidiaries Hurt By Withdrawals MIAMI. Fla June 11 (AP) The of Bay Biscayne, with deposits of and three affiliated fiinstitutions, failed to for today. statement by directors of the bank attributed the closing to "recent substantial withdrawals.' The affiliated banks were the Biscayne Trust Company, the Miami Beach Bank and Trust Company and the Bank of Coral of Bay Biscayne in its quarterly showed of $15,037 198 and total resources of J. H. Gilman is president of the bank. The Bank of Bay Biscayne is Miami's oldest It has one of the finest buildings in the city, structure in 1925. HOMESTEAD BANK CLOSES HOMESTEAD, Fla., June 11 (AP) The Bank of closed its doors today after opening for short time. was made by Assistant Cashier H. Grady Smith saying the was in good condition and of business was but tempororaly taken for the of local bank on account of bank failures today in Miami. Smith said the L nk expects to open in few days.

3. June 11, 1930 The Macon News Macon, GA

Article from The Macon News, June 11, 1930

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Banks in Florida Forced to Close Fla. June Bank of Bay one the leading city failed to open dnesymorning on the door read by directors The Bank of Bay Biscayn in had and total resources Fla., June 11. Bank Homestead doors at 10 Wednesopening Official was made Cashier Smith, that the bank in dition and but taken for th purpose avoiding bank on account of bank failures today in Miami

4. June 12, 1930 Morning Pioneer Mandan, ND

Article from Morning Pioneer, June 12, 1930

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Hot News Briefs By The Associated Press defeat the tariff bill calls betrayal of Hoover's pledge limited give culture equity with industry Additional equipment was sent into forest gions near Port Arthur, Ont., rangers to check numerous Dry weather has caused fires to break out Advance today for the 37th annual convention of the Minnesota and North Dakota and Ladies Anxiliary Unable to save feet of timber at Birch Lake, 60 miles east of Prince Albert, Sask., forestry officials moved fire fighters to other areas where there chance to check the wildfire. The Inland Waterways corporawas today charged ful practice granting service shippers ing the water line. Mrs. Walburga Oesterreich, wealthy widow Angeles, today granted separate trial from "attic lover," Otto Sanhuber, with whom she jointly indicted for the murder of her husband. Several hundred women worn by strenuous days in the 20th convention Nation Federation of Women's Clubs, sought rest in mountain retreats today. Sessions will be resumed Thursday. There are 32 women at Valley City from Cass, Barnes and Stutsenrolled in the first Homemakers Club camp The Civil closed in 1865. Today there were just 17 CivWar veterans North Da kota left to attend the annual meeting of the G. which opened today at Valley City, The Relief Corps, however, had 129 registered. convocation of the Minnesota Lutheran district of the EvangeliLutheran joint Synod Ohio other opened today St. Paul. Plans are being perfectfor merger the Ohio, Iowa and Buffalo Synods. George Kirk, 64, past command of Knights Templar, Bemidji, died at his home in Bemidji, today ment of the grain futures act. Donald Cash. 14 year old Mapes, Under the commerce department boy, since $30,000 was allowed for the monwhen was thrown from itoring radio at Grand horse, showed improvement today land, Nebraska: $350,000 for a More than broadcasting draulic laboratory; $139,000 for tions in the broad- building Great Lakes the $190,000 light-house night and fish cultural fight Thursday in Oklahoma. Mrs. Alice Eikor, 74, niece of Gen. Robert Lee, died last night in Oklahoma City. Chief Justice and Mrs. Hughes racks taken to daughter Elizabeth, sailed lieve prison congestion. on Leviathan for southern Europe FEAST OF CORN Heavy rains fell over territory stretching from Wilton to and in the nity Hook yesterday. In heavy rains fell area between Mandan Dickinson. Dr Ernesto Rossi, Italian wine Federation of Women's clubs, taster Indian operetta was presented foreign under- Sakakawaea junior girls club stand objection to strict pro- United States Indian school enforcement His opinion based after a drink boot drew the applause several hundred women dele Funeral will be held Edmore, tomorrow for Hans Myhre, 59, who cumbed Sunday to injuries ceived fall off grain tank during runaway last Four deputy sheriffs of Sedgwick Kansas, arrested Miss Slater. club presiday charges of conspiracy dent, played the violate the prohibition laws. Mary Slater took the part Wa- Bohmbach, wife Red Wing, Minn., alderwas found dead the cistern today. She had been ill for several North Dakota Laundry of the school faculty in charge Devils Lake, tomorrow with expected. CHURCH SCHOOL A chortage of $308,000 in the First National Bank at Chey. bongone, Mich. Clyde Milliken, savings teller Monday be paid in full to depositors. Episcopal church magazine Chief of Police Henry Knipe, believe that moderate drinking itself sinful under federal indictment He does not believe moderate violating prohibition laws. drinking The Bank of Bay Biscayne, Miami, $15,000,000 deposits and three affiliated banks, closed today after heavy runs. myself Boston, June drinking problem Rainbow arrived Boston fish pier late students, day the are prohibited statue, and The bodies, recovered near the statue doubtful ever will be scene last those seven men, women, he says only conclusion baby French inventor's home the prohibibar pivoted post majority and them time. quently."

5. June 12, 1930 The Washington Herald Washington, DC

Article from The Washington Herald, June 12, 1930

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MIAMI. Fla., June 11 Nervousness among depositors in five local banks decreased late today with the arrival of 000 cash by airplane from Jacksonville and optimistic ports from city and State bank ing officials. Failure to open for business today the city's largest and oldest financial institution and three branches sent depositors for information and their money and caused an other bank to shut down to avoid run. Bank of Bay Biscayne with its affiliated Biscayne Trust Company. Bank Coral Gables and Miami Beach Bank and Trust Company stood closed behind the notice officials that action lowed consultation with State comptrollers. heavy withdrawals recently and reported "frozen The Bank of Homestead shut down early with the expressed purpose of avoiding The Bay Biscayne Bank. capitalized at holds $15,000.in deposits.

6. June 12, 1930 The Marshall News Messenger Marshall, TX

Article from The Marshall News Messenger, June 12, 1930

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Rush Money By Plane to Halt Run On Bank Miami, Fla., June airplane bearing two million lars in cash arrived here from Jacksonville at 2:05 ms. today meet financial situation caused the closing of the Bank of Bay Biscayne and four others. President Romfh of First National, anthe money would be used through the other Miami banks off all concerned in the closed

7. June 12, 1930 The Sioux City Journal Sioux City, IA

Article from The Sioux City Journal, June 12, 1930

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FOUR BANKS IN FLORIDA CLOSE Miami Institution and 3 Branches Fail to Open Doors Miami, Fla.-(P)-The Bank of Bay Biscayne, with deposits of $15,037,198 as of the March 27 statement, and three affiliated financial institutions, failed to open for business Wednesday. A by directors of the bank attributed the closing to "resubstantial withdrawals.' The affiliated banks were the Biscayne Trust company, the Miami Beach Bank and Trust company, and the Bank of Coral Gables. The Bank of Bay Biscayne in its quarterly statement showed deposits of $15,037,198 and total resources of $17,182,292. J. H. Gilman is president of the bank. The Biscayne Trust company had $1,520,040 deposits and $1,962,14 resources. The Miami Beach Bank and Trust company had deposits of 943 and resources of $2,539,281 The Bank of Coral Gables, the third of the affiliated institutions, had deposits of $606,598 and resources of $743,759 Money Sent by Airplane E C. Romfh, president of the First National bank, said that $2,000,000 left Jacksonville by airplane Wednesday from the federal reserve depository there. He said the First National bank and its subsidiaries has money on hand to play all depositors, if necessary Depositors were orderly as they made withdrawals during the morning from other banks of the city and President Gilman said: "At meeting of the directors Wednesday morning, after consultation with the state comptroller, it was decided not to open this bank and its affiliated institutions, the Biscayne Trust company, Miami Beach Bank and Trust company and the Bank of Coral Gables, in order to protect all of our depositors to the fullest extent. "This decision was made after due consideration and was due to recent substantial withdrawals. Arthur W. Saarinen, bank examiner. has charge of the institution. The bank's resources include loans and discounts amounting to $7,478.458 and securities and commercial paper bonds valued at $5,368,497. Runs on Other Banks Withdrawals from other banks here up to the closing time were made in orderly fashion. bank officials said, and available funds were not E. Romfh, president of the First National bank, Laurie Yonce, Jacksonville pilot, had landed here shortly after 2 p. m. with $2, 000,000 in cash which he brought from the federal depository in Jack Hugh R. Gordon, Jr., president of the City National bank, said that approximately $350,000 had been withdrawn from his bank up to p. m (eastern standard time) and that the doors of the institution would be kept open as long as depositors remained. Mr. Romfh said approximately $500.000 had been withdrawn from the First National bank today telegram signed by E R. Black, governor of the federal reserve district in Atlanta. was posted in the window of the Third National bank which said 000.000 is en route to Miami banks. This total was believed locally to include the that came by airplane from Jacksonville Approximately 10,000 depositors in Miami, Miami Beach and Coral Gables were affected by the bank closings. $6,000,000 Sent to Miami Atlanta R. Black, governor of the Atlanta district of the federal reserve bank, said Wednesday that $6,000,000 was being sent to Miami from the Jacksonville branch of the federal reserve. This money, he said, would be available to all Miami banks that are members of the federal reserve. Mr. Black said $2,000.000 of the amount was sent from Jacksonville to Miami by airplane, and that $4,000,000 more was being sent "by mail.' Asked if any additional amount had been sent from the Atlanta depository of the federal reserve to Jacksonville, Mr. Black said the depository here "is continuously sending money to Jackjsonville, just as it does to the branches in Birmingham, Memphis and other southern Homestead Bank Closes of Homestead closed its doors at 10 a. m. eastern standard time, Wednesday after opening for a short time. Assistant Cashier H. Grady Smith said the bank was in good condition and that suspension of business was but temporary, taken for the purpose of avoiding a local bank run on account of bank failures in Miami. He said the bank expects to open in a few days.

8. June 12, 1930 Chattanooga Daily Times Chattanooga, TN

Article from Chattanooga Daily Times, June 12, 1930

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FIVE BANKS CLOSE DOORS IN FLORIDA Four in Miami, One in Homea stead Unable to Meet 'Runs.' Bank of Bay Biscayne Announces Deposits of $15,Helps. MIAMI, Fla., June 11 (A).-The Bank of Bay Biscayne, oldest financial institution of South Florida, and three subsidiaries in metropolitan Miami failed to open for business today. The subsidiaries are the Miami Beach Bank and Trust company, the Bank of Coral Gables and the Biscayne Trust company. Notices posted on the doors of the institutions said the action had been taken by directors "for protection of depositors" and because of "recent substantial withdrawals. fifth banking house, the Bank of Homestead, closed after being open an hour, with the statement that it would reopen in few days. Homestead is thirty miles south of Miami. The Bank of Bay Biscayne listed total resources of and deposits of as of March 27, 1930, in its late quarterly report. President James H. Gilman declined to give later figures as to the bank's condition or of the amount of recent withdrawals Capital stock was listed as $1,000,000 and surplus and profits at In issued by the subsidiaries at the same time, the Biscayne Trust was listed as having $1,520,041 and resources. The Miami Bank and Trust $2,349,943 deposits and $2,539,281 resources. The Bank of Coral Gables listed deposits of $606,598 and resources of Heavy withdrawals were reported by other banks of the city, but the arrival of $2,000,000 in cash by from Jacksonville of the Federal Reserve bank this and the announcement by Gov. E. R. Black, the Federal bank in Atlanta, that total of $6,000,000 in cash was en route here was expected by banks to allay fears of depositors before tomorrow. President E. C. Romfh, of the First National bank, said his institution had paid out $500,000 to large number of depositors today and that sufficient cash was available to meet all demands. The First National closed at its regular 2 o'clock hour. The City National bank remained open after its regular closing hour to give withdraw their money if they chose President Hugh Gordon, Jr., said withdrawals had been approximately $350,000 and that funds were available for all depositors seeking them. Other banks reported heavy withdrawals. It was estimated that between 8,000 and 10,000 affected by the closing of the Miami area banks. L. Chandler, chairman of the board of directors of the Homestead bank, said the institution had been closed in order to prevent a run. and damage estimated at nearly $1,000,000 was caused by a fire which raged for several hours before being brought under control tonight at the plant of the company oil refinery, just outside the city limits here. All of the injured were employes of the refinery. Leonard Hatch, the most severely burned of the twelve, was in critical condition. W. K. Holmes, superintendent of the plant, estimated the damage would be "slightly more than 1,000,000. The fire started late today with an explosion from an undetermined one of the treating units, quickly followed by lesser blasts in five other units. The treating units, known agitators, the handle the oil in one step of refining process. At the first blast pieces of metal and sheets of flaming oil were thrown for hundreds of yards, setting conflagration which within short time was consuming all of the refining equipment within an area about the size of a city block.

9. June 12, 1930 The Belleville News-Democrat Belleville, IL

Article from The Belleville News-Democrat, June 12, 1930

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in Florida Banks Being Regained Miami, June arrival of $2,000,000 in cash by plane and several reassuring statements by state banking offiiers helped today to allay the uneasiness of depositors who had funds in five banks which closed here yesterday One the banking officials sisted the situation was not acute, and declared that the conditions which led to the closures would have adjusted themselves there had not been unfavorable "talk," some of bankers themselves. The banks which closed were the Bank of Bay Biscayne, with sources of $17,182,292; the Biscayne Trust Company, with the Miami Beach Bank and Trust Company, with $2,593,281; the Bank of Coral Gables, with and the Bank of Homestead. The bankers said they were confident normalcy would be restored promptly when the public understood the cause of the heavy made on the institutions. They had the assurance of additional aid from the Federal Reserve if it were needthey said.

10. June 12, 1930 The Knoxville News-Sentinel Knoxville, TN

Article from The Knoxville News-Sentinel, June 12, 1930

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MIAMI RECEIVES MONEY BY PLANE $2,000,000 Rushed to City Where Five Banks Closed. By United Press MIAMI, Fla.-The arrival of $2,000,000 in cash by airplane and several reassuring statements by state banking officers helped today to allay the uneasiness of depositors who had funds +n five banks which closed yesterday. One of the banking officials insisted the situation was not acute, and declares the conditions which led to closures would have adjusted themselves if there had not been unfavorable "talk," some of it by bankers themselves. It was said today that an additional $4,000,000 was being rushed Into the Miami district by mail. It will arrive this afterThe banks which closed were the Bank of Bay Biscayne, with resources of $17,182,292; the Biscayne Trust Co., with $1,962,148; the Miami Beach Bank & Trust Co., with $2,593,281; the Bank of Coral Gables, with $743,759, and the Bank of Homestead. Local bankers said they were confident normality would be restored promptly when the public understood the cause of the heavy run made on the institutions. They had the assurance of additional aid from the Federal Reserve if it were needed, they said. CLEARWATER BANK FAILS By United Press Bank of Clearwater, capitalized at $250,000 and the Guaranty Title and Trust Company, smaller institution, also of Clearwater, went into the hands of the state banking department today and closed their doors.

11. June 12, 1930 The Buffalo News Buffalo, NY

Article from The Buffalo News, June 12, 1930

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$2,000,000 ARRIVES FOR BANKS IN MIAMI MIAMI June 12 among five local banks decreased late Wednesday with the arrival of $2,000,000 in cash by airplane from Jacksonville, and optimistic refrom city and state banking offiFailure for business of the Bank of Bay Biscayne its three branches depositors for information their money, and caused another bank to shut down to avoid run.

12. June 24, 1930 Evening Star Washington, DC

Article from Evening Star, June 24, 1930

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BANK HEADS AND STATE OFFICIAL NAMED IN SUIT Charges Officers Knew Institution Was Insolvent Nine Days Before It Was Closed. By the Associated Press. MIAMI, Fla., June 24.-Claims that the officers of the Bank of Bay Biscayne knew it was insolvent nine days before it was closed and that Ernest Amos, State controller, was derelict in his duty were made in a suit for a receivership filed in United States District Court here today by James G. Hawkins and his wife, Mrs. Rosa Hawkins, depositors. The petitioners asked that a receiver. appointed by the court, take charge of the bank's assets and issue a detailed inventory and appraisal of assets and liabilities. Judge Halsted L. Ritter designated next Monday as the date for a hearing. The suit claimed that when the bank closed, June 11, $10,000,000 in deposits were protected by a reserve of only $300,000, although Florida statutes require a reserve of 20 per cent of deposits.

13. June 30, 1930 The Palm Beach Post West Palm Beach, FL

Article from The Palm Beach Post, June 30, 1930

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FEDERAL OPENS MIAMI BANK RECEIVER APPLICATION HEARING Testimony Will be Taken Today by Federal Judge Ritter Petition to Have Federal Receiver on Appointed for Bank of Bay Biscayne By the Associated Press intended to the alleged need for federal receiver for the defunct Bank of Bay Biscayne will be sented Monday federal court hearing here, Mrs. Rosa depositor in the bank, and her Hawkins, of Cook county, husband. the bank. which closed its doors 11, and institution Officers of for hearing before Judge Halsted records have been subpoenaed Ritter. Attorney General Fred Davis, Florida, that total posits the bank the close business June Total this time listed the attorney general, SLAYER OF REPORTER is here represent State Comptroller Ernest Amos in any litigaThe Chicago Officers Special ment the first condition bank Reach Far to Solve closed. Only figures have been those Lingle Death the official March statement which showed deposits $15,037. By Press Chicago, The suit detective squad Wisamong things the consin woods Sunday comptroller in negligent effort to capture performance his Forsythe, hunted as the slayer bank's Alfred Lingle officials the institution officers broke the alleged $1,500 in she deposited savings vicinity June be found. attorney general said that dozen officers, under mand George Lavin, assistant United district attorney par hearing would liquidation ticipated in the raids the bank's affairs out the state's The state comptroller wired connection murderweek Simon Gorman Frank Noonan, not Dunharbored there. Miami the The squads reached their destina other Dade and Broward county enterclosed, resort, former official the Bank their Bay Biscayne. He and The place searched was the Saarinen, examiner Shady Rest operated charge of George Vogel, notorious subpoenaed gangster surprised for the federal hearing. not visibly According to information receivfrom Miami Sunday, the Bank Bay $381,cash banks and ings Continued on Page Three)

14. July 4, 1930 The Tampa Tribune Tampa, FL

Article from The Tampa Tribune, July 4, 1930

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AMOS LOSES IN WITNESS POINTS FIGHT ON MIAMI TO PRISONER AS RECEIVER Ritter Denies Motion To Dismiss Suit MIAMI, July attorneys for Comptroller Amos dismiss petition fedfor defunct Bank Bay Biscayne denied today Federal Judge Ritter Attorney General Davis, representfiled notice of appeal the United circuit court appeals. Judge morning for fixing bond for the appeal. Ritter motion by Bank of Bay Biscayne several days ago. Suit By Depositors The petition for federal receiver brought Mrs. Rosa Hankins husband Cook county, Illinois, after closing the bank and three subsidiaries Miami June The petitioners alleged officials of bank known was insolvent June when Mrs. Hankins deposited $1500, that Comptroller Amos had been negligent his duty in connection with the closing. While the hearing was going on in federal court. committee deposiBay Biscavne addressing County Solicitor McCaskill and State Attorney Hawthorne, written request that posed county investigation of the affaird and conditions responsible for its insolvency be pushed. Another representing smaller stockholders, request the list all stockholders of the bank. that suits could be instituted once force immediate payment stock New Bank Planned In Miami Beach, plans going forward for the of bank known the Miami Beach the Miami Beach Bank Trust company. subsidiary to Bank Cleary, head the depositors committee of this bank. said Comptroller Amos plan pay immediately deposits, for percent in to freeze remaining 25 percent. committee depositors in the defunct Bank Coral Gables, second Bank of Bay sub(Continued Page Another Sentenced for Carrying Weapon CHICAGO, July war on gangland, started after the assassination of Jake crime reporter, today gunman jail for carrying concealed weapons and another hoodlum pointed out the actual slayer of Lingle. This new in the drama George Hurley, gambler and said picture had been by witness Lingle's that the killer the reporter and led the theory allied with the Capone gang. Hurley to have been affiliated the gang with the Wave which, Lingle stopped, leading to his Make Denial Both Pat Roche, state's attorney's chief and Charles special state's torney charge of Lingle quiry. denied Hurley been named the killer. Rathbun declined to say whether Hurley's name had been drawn inquiry. but Roche admitted had been arrested though released. after denying he ever had heard of ley. Newspaper investigators working the Lingle said that state's office deavoring keep Hurley's plication Hurley resided the hotel which twice has been raided in the last three Search for Jack Zuta, another Morgangster fired by gunmen Tuesday night while under police escort across the loop. went today, police seeking find him for questioning about the identity of the gunmen. Believe He Knows Zuta had been arrested in connection with Lingle killing but leased. Police now think knows more than wherefore the attempt ambush him in the heart downtown business district, attempt which life of wounded another spectator. Governor Emmerson Springfield today signed extradition papers returning Frank Foster to Chicago from Angeles. Foster, fugitive gangster, indicted for Lingle murder. He had been (Continued on Page

15. July 10, 1930 The Miami News Miami, FL

Article from The Miami News, July 10, 1930

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BISCAYNE BANK RECEIVER SUIT IS DISMISSED Appeal on Naming Court Representative Is Upheld NEW ORLEANS, July 10.(AP circuit court of appeals late yesterday reversed the judgment of the federal court for the southern district of Florida and set aside that court's order appointing special representative for the Bank of Bay Biscayne at Miami. The circuit court also directed that the bill of complaint brought in the lower court by Mrs. Rosa Hankins and her husband seeking appointment of receiver for the bank should be immediately dismissed by the lower court. In its opinion. the court of appeals briefly summarized the case and set forth the following decision: "Regardless of the terms used. it is apparent that the order in effect appoints receiver to control the assets of the failed bank and enjoins the comptroller from carrying on the liquidation of the institution under provisions of the laws of Florida. In the event of its insolvency. it is matter of grave consequence for any court to interfere and that should be done only in perfectly clear case. "It does not appear from the record that such a case is presented here. The laws of Florida provide an orderly method of liquidating the affairs of an insolvent state bank. in substantially the same manner that federal statutes provide for liquidation of an insolvent national bank. It is usually matter of discretion to issue an injunction and appoint receiver but the exercise of jurisdiction and the entering of the order appealed from in this case appear to us to be warranted. "The order appealed from is reversed and the cause remanded with directions to dismiss the boll of complaint. The mandate to issue immediately.

16. July 18, 1930 The Tampa Tribune Tampa, FL

Article from The Tampa Tribune, July 18, 1930

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Amos Again Asked for Bank Stockholder List MIAMI, July that Ernest Amos. state comptroller provide names and addresses of stockholders of the closed Bank of Bay Biscayne of Miami was in letter sent today by Abe Aronovitz, chairman of one of the depositors committees of that bank. The demand. the third of its kind. was sent after meeting of the committee today at which was said the names were wanted so that suit to collect could be instituted. Amos declined two previous requests for the names, first on the ground that Judge Halsted Ritter had ordered the affairs to remain in status quo and later on the ground that the information desired is quasiconfidential.

17. July 27, 1930 Evening Star Washington, DC

Article from Evening Star, July 27, 1930

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FLORIDA BANKERS ACCUSED OF FRAUD Creditor Sues, Charging State Controller Let Defunct Institution Swear Falsely. By the Associated Press. MIAMI, Fla., July 26.-Charges that Ernest Amos, State controller, and officials of the defunct Bank of Bay Biscayne, had known that statements issued by the bank prior to its June 11 closing were fictitious, and that Amos is conniving wth officials of the institution to dispose of securities, were contained in a suit filed in Federal Court here today, asking the appointment of a Federal receiver for the bank. The suit was filed by Robert J. Boone, attorney for Charles Ball, a Scranton, Pa., real estate operator. Boone said Ball filed the action as a creditor, on the grounds that he holds an unpaid judgment of $7,040 against the bank. The suit, according to Boone, charges that the bank has been insolvent for 12 months, and that the controller and officers of the bank were aware of the fact. A further allegation is made that the controller permitted the bank to issue false statements as to its condition.

18. August 8, 1930 Evening Star Washington, DC

Article from Evening Star, August 8, 1930

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ACCUSES BANK OFFICIAL Florida Controller Is Charged With Malfeasance. MIAMI, Fla., August 8 (P).-A warrant charging State Controller Ernest Amos with malfeasance in office in connection with the liquidation of the suspended Bank of Bay Biscayne was

19. August 8, 1930 The Kokomo Tribune Kokomo, IN

Article from The Kokomo Tribune, August 8, 1930

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MIAMI BANKER UNDER CHARGE OF MALFEASANCE Miami, Fla., Aug. 8.-(AP)-A warrant charging State Comptroller Ernest Amos with malfeasance in office in connection with the liquidation of the suspended Bank of Bay Biscayne was issued here yesterday on application of a depositor. Amos is charged with violation of Florida statutes by employing former officials and employes, of the bank to make the liquidators' audit. While there has been much civil litigation in consequence of the bank's suspension, this is the first eriminal action taken, Center M. E. Church. Preaching once each Sunday. Sunday school each Sunday morning at 9:30 o'clock. Prayer meeting each week. Come and bring the entire family. We need you. J. R. Smith, pastor.

20. August 8, 1930 Evansville Courier and Press Evansville, IN

Article from Evansville Courier and Press, August 8, 1930

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Florida State Official Accused MIAMI. Fla., Aug. 7.-(AP)-A warrant charging State Comptroller Ernest Amos with malfeasance in office in connection with the liquidation of the suspended Bank of Bay Biscayne was issued here today on application of depositor. Amos is charged with violation of Florida statutes by employing former officials and employes of the bank to make the liquidators' audit. While there has been much civil litigation in consequence of the bank's suspension. this is the first criminal action taken.

21. December 1, 1930 The Miami News Miami, FL

Article from The Miami News, December 1, 1930

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MORE MEMBERS FOR MIAMI'S Y WILL BE SOUGHT Drive Volunteers to Be Obtained at Meeting Tonight An effort to bring membership in the Miami Y. M. least to at 1,500 replenish finances which were through failure of the Bank of Bay Biscayne, will get under way tonight ship meeting at the Y building at 6:15 This meeting called by M. R Harrison. general of the membership campaign, for the of perfecting field organization solicit and memberships. The meeting will not longer than an hour half, Mr. Harrison said. Starting tomorrow and for five thereafter, than 100 workers be field. Emphasis will memberships, those which only entitle the holder privileges, enable the association to extend rights to number of deserving boys not able to pay the regular membership fee. Officers field organization already have and unteers make the remainder up the field army expected be to tained at tonight's

22. December 23, 1930 The Miami News Miami, FL

Article from The Miami News, December 23, 1930

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the past and we shall continue to in the future. On June 11, he was quoted as say- are authorized to reaffirm in my the previously published that squarely behind the City National bank. suggest the that ample funds are available for all necessary demands." The questioning of Mr. Gordon preliminary net the part of the state attorney's understood. might be by calling the grand jury. Whether this would done, Mr. Hawthorne said, depends developments. As to investigation of the bank such. he said, such probe properly should handled by the government. as the City National is federal serve institution. off and have been waiting all morning for line that failed to materialize," it said. Police at the City tional and Bank of Bay Biscayne for service, said that there had been disturbances. One man at the City National bank to have his safety deposit box contents delivered to him.

23. March 28, 1931 The Miami Herald Miami, FL

Article from The Miami Herald, March 28, 1931

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TRIAL OF GILMANS AWAITS DECISION Halt Called Pending Supreme Court Ruling The cases of James H. Gilman, president closed Bank of Bay Biscayne and his Gilman, head the with false entries in bank's will called for ther next Supreme court does decide questions before by the middle of the week, Judge Collins of Criminal court Judge Collins indicated that he demurrer by plea John Stokes Carl Hoffman, neys for the last The attacks Judge Collins' authority to hear the The same questions are before. the Supreme court, Judge Collins said, was to him in Tallahassee this that would be made this week or early next week.

24. May 20, 1931 The Miami News Miami, FL

Article from The Miami News, May 20, 1931

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Bishop Sheddan Reaches Nassau After Loss of Yacht That Struck Reef Shipwrecked Party Is Landed $900,000 SUIT FILED AGAINST BANK PROPERTY NASSAU, Bahamas, May Survivors of the yacht Livonia wreck rested here today after their rescue from a distant Bahama island where they were marooned following loss of their vessel and the drowning of the ship's captain, Joseph Bishop Roscow Sheddan of Nassau, sister, Evelyn, and of the Livonia arrived late yesterday aboard the motor Molola. They said suffered no ill effects from their other than inconveni from and The Livonia, used by Bishop Shed dan in visiting churches his sank after striking reef off Plana or French squall. The craft went down within 10 the but all aboard man to reach shore. Despite of the bishop, Captain Taylor dived into the water in an attempt to of their belongings and was drowned. Efforts to recover the body proved unsueBishop Sheddan returning Nassau visit churches at Turks island and Caicos island. He head of the Nassau diocese of the Church of England. Receiver Asked for Bay Biscayne Building by Bond Holder Appointment of receiver for the Bank of Bay building be asked before Judge J. H. Tedder in Lauderdale in the few days connection with suit filed here late yesterday by the Metropolitan Life Insurance Co. to foreclose $900,000 against Mo Biscayne Properties, of which James Am H. Gilman is According the suit filed the $900,000 bond issue was floated Nov. 1926, retired at certain dates. The mortgage is in default, $854,750 principal remaining due, together with all interest payments due since May 1, 1930. The First property also has been sold for 1929 In asking for the receiver the plaintiff alleges the defendant receiving Corn the entire from office rentals, which should be applied to retiring the debt. All tenants in the building are made defendants, Dr. H. Therrell being liquidator for the Bank of Bay Biseayne, liquidator for the Biscayne Trust Co. and in his capacity According Knight. Pace and for the Hupp pany, the naming of Dr. Therrell as defendant makes it to hear the of the local judges, all of whom are deposits in the suspended bank.

25. June 9, 1931 The Tampa Times Tampa, FL

Article from The Tampa Times, June 9, 1931

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Trial of Former Bank Officers in Miami Recessed Miami, Fla., June of two former officials of the closed Bank of Bay Biscayne recessed today following an announcement by Fred Botts, assistant county solicitor, had received word the death Edwin his father-in-law, in HartConn. was ordered until afterMr. Botts plans for taches the cess would be until week. The former officials, James Gilman, former president, and Gilman, former head the department, charged report be issued certain bonds costing when the testified yesterday he not the report until the bank closed and that had closely until was shown him the room. He said the prepared by the bank's auditing department.