1.
June 10, 1930
Evening Star
Washington, DC
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BANK FAILURES TIE UP $4,500,000 DEPOSITS St. Petersburg, Fla., Has Only One Financial Institution Open, With Two Suspensions. By the Associated Press. ST. PETERSBURG, Fla., June 10.St. Petersburg was left with only one banking institution yesterday when two banks-the First National and Security -failed to open for business. Yesterday's failures tied up nearly $4,500,000 in deposits. The first National was capitalized at $1,000,000, with deposits of $4,160,000, and the First Security was capitalized at $50,000 and had deposits of $302,197. Unusually heavy withdrawals from the two banks during the past few weeks was given by directors as the cause of the closings. The First Security Bank was affiliated with the First National. The American Bank and the Ninth Street Bank recently failed here, leaving one operating out of a previous total of five. The bank which was still open yesterday, and which officers said would be open again today, is the Central National.
2.
June 11, 1930
Tampa Bay Times
St. Petersburg, FL
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POLICE FIND MISSING GUN, 1 SHOT FIRED
Detectives Work Feverishly to Gather Clues and Evidence in Death of George W. Council
EORGE W. COUNCIL'S .38 calibre pistol, missing night he burned to death in his south side bungalow, found Tuesday by the St. Petersburg police department. It contained five loaded cartridges and one empty lieved to have been fired as recently as 10 days ago whenathe badly charred remains of Council were dragged smouldering debris that had been his home. Where the gun was found how detectives located it could not CENTRAL'S RUN revealed Tuesday, detectives adopting crecy pending may land man in jail on echarge APPEARS OVER; of murder. Call State's Captain LINE DWINDLES who with his best spent the greatest part of 48 hours on the case, Tuesdres bight decided to send for State's Attorney Another Big Shipment of Cur- E. .Wilson. He will arrive'Ithis morning and steps will be takemosit rency Arrives by Armored is understood, to conduct an attophy over the remains of Council Truck During Morning buried the day following his death. There were many rumors current Run on the Central National Bank on the streets Tuesday afternoonsin and broken connection with the case. Tuesday the opinion of officers these rumors connected the of the after line that known citizen. who has been extended length of the build. recently much in the with ing had almost the nothing and stragglers inPolice Chief Noel in declining to vited hour for the closing answer by allowed to make said had been too such wild rumors going around alThe arrival Tuesday from ready
Fire Home to Cover Crime Captain Lipphard was ticent and little could be learned from Chief of Police R. known that are looking into the theory that Council was ed killed and that home was fired up the crime. This theory comes out of testi(Continued on Page 2. Column
3.
May 6, 1931
Tampa Bay Times
St. Petersburg, FL
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Communications of suitable nature and proper newspaper interest are this the editor right decide and proper. They should be as brief as the subject preferably less 500 and the permit. address the writer an of good faith. Their mean any agreement the part of The Times with any statement or sentiment expressed in them.
A JUST PROTEST
Editor The Times: should like to voice protest, through your paper, against the unof foreing long line of people to for an hour to get to the safety deposit the Central National bank each time they need go. last week. am longer young. and felt much fatigued when reached the first time for to me up. asked if would be necessary to through this long line each time wanted get box. He replied in the affirmative. had to stand in line over an One man up and heard him say he would have to leave as he was feeling faint. One lady also but most of us felt we had to stick out. does not seem as though quired much business ability to vise way whereby after one found O. K. he could be given slip good for more than one day his marked with sticker, arrangement whereby after the first time could get to the box with only the usual formalities. We wish to make friends for St. Petersburg, but this policy of the receivers to me to have the opposite effect. WILLIAM T. WOOD. 526 Seventeenth avenue northeast May 1931.
(This protest entirely war and well the last paragraph Washington, and not Petersburg, charge of national bank receiverships. The Editor).
COMMU VS. CAPITALISM
Editor The Times: Present all seem point to time these two will Before the World war we by our not that paring for years they did not and part in the had known much of Germany fairs did about again what is going on Russia today seems be the might lest driving for good or the today It is certainly stern reality with mission will undoubtedly be fulfilled. no doubt that this country would the stronghold capitalism communism were encompass the world. but the experience gained in the World war demonstrated the impossibility of the sort which would enguif all also erroneous to think that the development of Russia interest to future generations of Americans, but not the present generation. first ous clashes between communism and bourgeois will comparatively time. The relative of two opposing will the fortunes of recognition the adopt data developed in Russia important and if bourgeois tion learning the social and economic
Soviet Russa then the Russian revolution will have been real contribution to human progress Russia today buys from our mass-production. and hires our engineers, and no forced unemployment, this to their great advantage Why, when the originators of production and have our and are not obliged to buy hire import either of them from some foreign country? Why do have to have millions of our people out of employment, when we ourselves furnish the means of employment to Soviet Rus-
Our greatest need today is honest men. common to attribute most of the world's sorrow and suffering to ignorance and stupidity. The theory that if all people were and blessed with sound sense everybody would be able to make money and would realize that folly and crime return more loss than profit. That has plausible sound but little observation will reveal the fact that the solution of great problems prevented by the dishonesty of men who are neither ignorant nor stupid. Great matters that determine the woe of the world are in the hands of who value money and power than they value right and men by selfish think honestly nor act hohestly choose the that the greatest profit and then invent ethics, and moral to justify They deliberately set about themselves right. In the end they in fooling so nearly that they can wrong clear conscience and retain their self long as they refuse to examine their If every educated and intelligent man should turn today and and act in complete good sincerity without great problem that now baffles the earth could be on the Men support wrong there is profit When they cannot find the right way points one direction and profit in
JOHN C. HERMANN. 215 Sixth Avenue North.
DOG OBITI ARIES great explorer mourns dog: "Igloo" his name. I. too, have little dog. cur, by fame While "Igloo" smiled and gave his
And sailed stormy sea, My little sat by the fire And wagged his tall at me. They both had missions here, you
Still after all is said It matters not, this great world. That both these dogs are dead. But the masters Do you think could forget The little paw and wagging tall Of those two faithful peta?
In my Dog-ol-o-gy I've found Which there'll be place in For dogs, like Byrd's and mine folks! may fail find place And and But the dog that his paw, Nor the that wagged his
4.
June 20, 1931
Tampa Bay Times
St. Petersburg, FL
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BONDHOLDERS GIVEN RIGHT TO SUE CITY
Judge Dissolves Injunction; Will Hear Motion Monday to Quash Mandamus Suit
(Continued from Page feet." He contended that the committee of had no rights over other bondholders in interest payments.
Rudy Replies
Attorney L'Engle in his opening argument declared that should the court appoint received for the ministration of the financial affairs of the city, the result would be that the court would become the city finance you take charge and marshal fund,' said, take charge funds of the city true that the rights of all are equal but difigent than others. The bonds are all equal regardless of priority. L'Engle said the his firm did not claim the bank receiver they had been diligent and had the first to get payment on their bonds. was his that the policy "first first should be followed out in interest payments. Replying to L'Engle, Attorney Rudy declared the court that the "bill of complaint still before your honor. still before you in the same manner. discuss in south Florida language rather than in the manner which it been discussed. Attorney Rudy pointed out that there widows orphans were not able come the "highly favored" bondholders' mittee to bring suits in their behalf. After the court had asked whether the city had assets had exhausted its ability raise funds, Attorney Rudy pointed out should the bondholders allowed proceed with their mandamus, city would be flooded with suits which would drain the bond fund as was collected. have Rudy remarked, "that they do not desire be court They want get theirs They want back out and get money as quickly attorney explained that Anderson, receiver the First National and Central National banks. had approximately 33,000 accounts, representing of city bonds. marshaling of funds, he declared. did not that the court should the financial management the Attorney Rudy pointed out that when question trial courts restraining order should be tion should given the question of sustain the greater and that there any the the decision be the complainant. "The threatened last Friday The of your honor to continue the reAttorney gued, permit them to get their money and gone. What do they for bondholers? The court should not forget the of other good It should be that there are of other of afford to sert their rights. This not for alone for the people at large. Where there that bristles with equity?" During the Attorney Martin He expressed doubt his right to represent the city such but said he with of counsel both It was his contention that city should all bondholders alike. He said he came merely as spectator. his friends on the opposing counsel had shown him that more involved in the case than he had conceived. the multiplicity of Speaking Attorney Martin declared that
5.
June 22, 1931
Tampa Bay Times
St. Petersburg, FL
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COURT TO HEAR CITY'S MOTION TO QUASH SUIT
Bondholders' Litigation Will Come Before Judge Hobson This Morning
Arguments on a city motion to quash the mandamus action brought by group of New York bondholders to compel the municipality to pay interest on bonds in default will be heard in circuit court chambers here this morning by Judge T. Fank Hobson. Judge Hobson Friday dissolved temporary injunction restraining the city from paying further interest on bonds. The restraining order was grantd a week previous on application of A. M. Anderson, receiver for the First National bank and the Central National bank. Counsel representing the bank receiver indicated that Judge Hobson's decision would be appealed to the supreme court. The group of New York bondholders have possession of approximately one-fourth of the city's outstanding bonds, amounting to about $6,000,000.
6.
August 8, 1931
Tampa Bay Times
St. Petersburg, FL
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CITY AND BANK DEAL APPROVED BY COMPTROLLER
Municipality to Settle First National Claim, Taking Own Bonds at Par
J. W. Pole, comptroller of currency of the United States, gave his approval Friday to the agreement between the city council and A. M. Anderson, receiver for the First National and Central National banks, whereby the city will accept $83,000 in St. Petrsburg bonds at par and accrued interest plus $47.000 in cash. in return for the $130,000 the city had on deposit in the First National bank when it closed last year: The agreement between the city and the receiver was made last Monday at the regular meeting of the council after the proposition had been presented by Arthur R. Thompson. general counsel for the receiver. Prior to this the federal court in Tampa had ruled that the city should accept its bonds at par and plans had been made by the city to appeal the case to the district court. The new agreement will make it possible for early settlement to be made and also will make possible dividend of 10 per cent from the First Na. tional bank. The receiver expects to be able to announce the dividend within 10 days. It will represent $400.000 distributed among 11,000 depositors and in addition. there will be $100,000 in trust funds distributed.
7.
October 25, 1931
Tampa Bay Times
St. Petersburg, FL
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CENTRAL BANK FIRST
25 Per Cent Is Ready for 6,500 Depositors, Anderson Says
(Continued from Page properly endorsed, the check can be cashed deposited at any bank otherwise negotiated. First Dividend This the first dividend that has by the Central National bank, which suspended of April 17, 1931. This payment will be ultimately extended to more than 9,000 Mr. Anderson pointed out that positors In this community are coming familiar with the procedure, dividends have been paid the First bank. He urged that and certificates be warded mail, convenient, will permit the same clerical force the payments at the disposal many hundreds depositors sooner than could be delivered people standing The payments to will without exception, mailed in order which they arrive by and perwho call the during office hours, 12 noon, will be waited on their Urges Public Patience The receiver said that effort will be made to place the dividend checks disposal the creditor rapidly possible. On account the large number payments be made, will necessary take few days, and is expected people will least reasonably patient in the matter. receiver large volume bills receivable yet to liquidate, and and controls large amount real estate, which will be liquidated rapidly possible as the best interests general which will cause further dividends, Due the fact that large numof depositors of the closed bank are the north, expected that made for the people return here for the winter. claims will be filed and sent in as the depositors the The receiver explained that while depositors may not think to get for few cents, he pointed that important that every payment be records the bank may avoid any litigation the future over amount deposits. Mr. Anderson said might be possible that mistake had been by the bank and that the depositor might have more money than shown on the receiver's certifiHe asks that all persons their dividend checks whether they be for one cent $10,000.
8.
June 12, 1932
Tampa Bay Times
St. Petersburg, FL
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RESIDENT BUYS HOME FROM BANK RECEIVER
The purchase of North Shore bungalow located at 320 Fourteenth avenue northeast, was reported last week by Van Sciver and realSon, tors. The property was purchased from M. Anderson, receiver of the Central National bank by John Hill McCleary, local resident.
9.
July 2, 1932
Tampa Bay Times
St. Petersburg, FL
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BANK RECEIVER PAYS DIVIDEND
Many First National Depositors Call for Checks at Central
Depositors in the closed First National bank moved into the Central National bank. headquarters of A. M. Anderson, receiver for both institutions, in steady stream Friday to receive checks representing an eight per cent dividend on their accounts. Anderson said the bank would he open until o'clock this afternoon to give depositors in the First National every opportunity to get their dividend checks. The bank will be closed Sunday and Monday, July 4. Clerks were kept busy during the day distributing checks to depositors, and as a result several thousands of dollars was released in the city. The dividend totals approximately $290,000 and will be divided among about 11,000 depositors. Business establishments were recelving additional trade as result of the dividend payment, many of the depositors cashing their checks at stores where they obtained merchandise and other articles' or paid accounts
10.
August 27, 1932
Tampa Bay Times
St. Petersburg, FL
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BANK RECEIVER AWAITING WORD ON MORATORIUM
Foreclosure Proceedings Suspended for 60 Days By Federal Comptroller
M. Anderson. receiver for the two closed national banks here, Friday night that had no instructions from Washington connection with the plan to adopt 60-day moratorium mortgage foreclosures on homes throughout the country.
Shown an Press dispatch the was to elaborate the effect the suspension might St. Petersthe receiver that the bulk of by the two national banks here on homes had been completed.
Have Humane Effect
"On the basis this Anderson said, contemplate difficult timate nature of those instructions don't doubt but that as outlined the dispatch will effect quarters, but in St. Petersburg would not attempt estimate how beneficial it might be. only natural assume that in the course two years liquidation claims the Central National and First banks in St. Petersburg against homes have been reduced to possession," adding that 50 homes have been involved liquidation of the institutions. Guy Shepard. liquidator for the American Bank and Trust company, also refused estimate any beneficial results that might accrue the suspension plan, but indicated that the bulk foreclosures on also completed. "The proposition is encouraging," Shepard. He added large number persons had called on him connection finding and means of their from mortforeclosures, only by his but individuals and instiwell. said he had been the Reconstruction Finance corporation pleas of his inquirers, but refused contents of answers from the
11.
August 28, 1932
Tampa Bay Times
St. Petersburg, FL
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AGED MAN DIES PAUPER, HAD FORTUNE
G. W. Clark Carrier Riches In Coat But Depended On Neighbors for Food
The story of 76-year-old man who carried with him, sewed the linings of his clothing. fortune in cash and securities but who died pleading pauper was revealed here Saturday. Living alone in "shack" at Tenth avenue south and depending his neighbors for food, George W Clark requested admittance to Mound Park hospital as charity patient Aug. and died short time later, was learned. Among his effects hospital authorities found cash, stocks and bonds of an unknown amount. Now appraisers are checking on the aged man's determine his actual worth and efforts are being made locate all his immediate kinsmen. Two brothers have been found, one West Haven, Conn., and another Toronto, Can. Clark said have lived Flor. ida for the past 20 years, and most of that time spent in St. Petersburg, persons familiar with the case
He came here from Canada. The Endicott Funeral home given charge of the body when Clark and relatives north quested the aged recluse be buried On Aug. the body terred in Royal Palm cemetery Later the case was placed before County Judge Harry Hewitt, named M. Endicott curator for the estate, with Wilson and Bogue attorneys. Although the exact value Clark's estate has not been determined, was estimated that "good times" was worth $50.000 and $100,000 in cash and securities, and "played the stock market regularly," those close to the case said. Investigation revealed that Clark lost approximately in the closing of the First National bank and the defunct Central National bank. He had $500 monthly annuity from Bogue, one of the attorneys the In addition he had stock certificates several leading motor sues totaling thousands dollars, with an unestimated amount of bonds. Bogue placed the man's wealth his tween $15,000 and $20,000, in stocks and bonds on the present day market.
Bogue said that an investigation at the man's "shack" after his death revealed evidence that he had been hoarding his little fortune his large needle was found. The two brothers located were John Clark, West Haven, Conn., and Thomas Toronto.
12.
September 3, 1932
The Tampa Tribune
Tampa, FL
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St. Petersburg Bank Case Is Argued in Federal Court Here
Final arguments in the equity suit of the Federal Reserve bank of Atlanta. against A. M. Anderson, as receiver of the Central National bank of presented before Federal Judge Akerman in his chambers yesterday. Judge Akerman took the case under advisement and probably will give decision in eral days. The suit involves the legal of drafts sent by the Federal Reserve bank of Atlanta to the St. Petersburg bank the day before the bank suspended. and received after the bank closed. The plaintiffs contended the drafts should be honored. The defendants claimed they should net be the bank closed when they were received. Kenneth I. McKay represented Mr. who present the Harvey McGlothlin and U. Barrett of St. Petersburg, represented the Atlanta bank.
NORMAN SAILS FOR HOME
Sept. governor of the Bank of sailed for home today on the liner Duchess of Bedford. He boarded the vessel three hours before sailing time.
13.
September 4, 1932
Tampa Bay Times
St. Petersburg, FL
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COURT HEARS FINAL BANK SUIT ARGUMENT
Final arguments in the equity suit the Federal bank of Atlanta against Anderson ceiver of the Central National bank, heard Federal Judge Alexander Akerman his Tampa federal chambers Friday. The involves the legal status drafts sent the Federal Rebank of the tersburg bank the before the bank suspended and received after the bank had closed. Plaintiffs tended drafts should be honored. The defendants claimed as the bank was closed when they were received. Harvey L. McGlothlin and St. Atlanta while Kenneth McKay Anderson present throughout the hearing.
14.
March 6, 1934
Tampa Bay Times
St. Petersburg, FL
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BANK RECEIVER LOSES IN CASE OF CHECKHOLDER
Court Rules Against Central National; Decision to Affect About 100
The United States circuit court of appeals at New Orleans has affirmed a decision handed down in favor of checkholder claimants in connection a remittance draft for more than $75,000 issued and forwarded by the Central National bank of St. Petersburg the day before it closed, it was learned here Monday The case, styled A. M. Anderson, as received for the closed National bank, vs. the Federal Reserve bank of Boston, was carried to the court of appeals after Judge Alexander Akerman ruled against the receiver in federal district court at Tampa. The draft was forwarded by the local bank in payment of checks drawn on It by its depositors It was claimed by the receiver that the draft was not paid before the bank on which was notice that the Central National bank had closed. and he demanded the amount represented by the draft as an asset of the closed Bank Honored Draft The Federal Reserve bank of At. lanta honored the draft, but held up the proceeds subject to order of Judge Akerman held that even though the remittance draft had not actually been charged to the account of the Central National bank at the time the Federal Reserve bank of Atlanta received notice of the Central's suspension, the draft, which was drawn on and payable to the order of the reserve bank of Atlanta, had been presented for pay ment by mail at the Jacksonville office of that bank prior to the time the St. Petersburg bank actually He further held that the Central bank then having on deposit the drawee bank suf. ficient balance to cover the draft. and that under the circumstances equity would regard that as done which should have been done, the holders of the checks sent for payment were entitled to the funds DS