Bank of Ormond - Ormond, FL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 26, 1929
Location: Ormond, Florida (29.295, -81.095)

Metadata

Model: gpt-5-mini
Short Digest: 130c30cc

Response Measures

None

Description

Article (The Charlotte Observer, 1929-07-26) reports the Bank of Ormond closed today. Closure is attributed to being adversely affected by the failure/suspension of the Merchants Bank and Trust of Daytona, which made deposited funds unavailable. No run on the Bank of Ormond is described. The text does not explicitly state a receiver was appointed, but closure is described as final in context; classified as suspension_closure. Bank type not specified in article.

Events (1)

1. July 26, 1929 Suspension

Cause: Correspondent
Cause Details: The Bank of Ormond had funds deposited in the Merchants Bank and Trust of Daytona; when that institution failed/suspended its funds were made unavailable, adversely affecting Bank of Ormond and prompting closure.
Newspaper Excerpt: The Bank of Ormond ... closed today as protection depositors. ... the Merchants Bank and Trust of Daytona ... when the latter institution failed the Bank of Ormond thus was adversely affected.
Source: newspapers

Newspaper Articles (1)

1. July 26, 1929 The Charlotte Observer Charlotte, NC

Article from The Charlotte Observer, July 26, 1929

Click image to open full size in new tab

Article Text

FERTILIZE WITH POOR TOBACCO ORMOND BANK CLOSES DOORS Farmers Advised to Scrap All Institution Across From RockeWeed Worth Less Than feller Home Affected by 2c Per Pound. Daytona Failure. that tobacco growers of Virginia, the Carolinas and Georgia convert their scrap, all tobacco not worth more than two pound, into fertilizer is to be broadcast by the chamber of commerce here. If millions of trashy tobacco which has been produced this summer is withheld from the markets the average price will boosted materially. claimed. The organization here views "with alarm" the tendency of weed prices drop. This tendency has been manifest since the world war The movement to increase the average price be called to attenwhile this year Keep your eye tion of the of year also-in and members of the farm board Gastonia next Washingt the governor and GET REDUCED RATES officials at Raleigh and authorities of W. H in the other Scrap tobacco has fertilizer value and of $25 ton. according to the chamsenger of the ber of commerce. through various railroad officials in this rates on round trip ORMOND, Fla., July The Bank of Ormond, in this exclusive resort. winter home of John D. Rockefeller, Sr., closed today as protection depositors. Officials of the institution did not disclose the here during the months, but it was Believed that he had no funds in the bank at the time closed Officers of the bank, small institution across the Halifax river from Mr. Rockefeller's home, said had in the Merchants Bank and Trust of Daytona and when the latter institution failed the Bank of Ormond "thus was adversely affected. It was explained that the Merchants Bank and Trust company was of the Ormond pondents, and officials said that the closing the institution here "undoubtedly partly, at least, the result the suspension of the Merchants bank. which made its funds deposited there unavailable. basis and onehalf for round trip to Raleigh, minimum $1, will be from all points North to be sold delegates and the Legion and their families presentation of Idencertificates to ticket agents at time of purchase of certificates are being print ed now and will be furnished the various Tickets be sold August inclusive, with final tickets the regular ticket agents at Raleigh before journey is commenced is believed that this will materially increase the tendance at the department convention. and that hundreds of Legion naires will show their appreciation by taking advantage of these duced rates