2588. Bank of Umatilla (Umatilla, FL)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
July 15, 1926
Location
Umatilla, Florida (28.929, -81.666)

Metadata

Model
gpt-5-mini
Short Digest
c8452c78

Response Measures

None

Description

Bank of Umatilla temporarily suspended operations in mid-July 1926 after bankruptcy/receivership proceedings against its financing agent Bankers' Trust Company of Atlanta. The bank later reopened (listed as reopening on 1926-09-28). There is no clear report of a depositor run on this specific bank in the provided articles; closures are described as suspensions tied to the failure of the Bankers' Trust Company.

Events (3)
1. July 15, 1926 Other
Newspaper Excerpt
The Bank of Umatilla, Fla., in its receivership suit alleges that it loaned the Bankers Trust Company $491,500 to be placed on call for investment... the bank alleged officials of the company had admitted their inability to pay and charged the Bankers' Trust Company with being insolvent.
Source
newspapers
2. July 15, 1926 Suspension
Cause
Correspondent
Cause Details
Suspension followed bankruptcy/receivership proceedings against Bankers' Trust Company, the financing/agent for the Bank of Umatilla; the trust company's inability to finance member banks forced temporary closure for protection of depositors.
Newspaper Excerpt
the Bank of Umatilla Tuesday instituted suit against the Bankers Trust Company... the four Florida banks reported closed were the Citizens Bank of Eustis, Bank of Mount Dora, Bank of Tavares and the Bank of Umatilla, each of which through notices posted on their doors announced that they were 'closed temporarily for the protection of depositors.'
Source
newspapers
3. September 28, 1926 Reopening
Newspaper Excerpt
Bank of Umatilla, Umatilla, 1926: Bank of Umatilla... Sept 28, 1926 (listed among banks reopening).
Source
newspapers

Newspaper Articles (15)
1. July 15, 1926 The Washington Times Washington, DC
Article from The Washington Times, July 15, 1926

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Bankers Trust Company, asking for appointment of a receiver. The latter action was brought by four Atlanta concerns, and alleges that the Bankers Trust Company committed acts of bankruptcy in allowing the appointment of a receiver in Fulton superior court, and that it preferred certain creditors by retiring debts without the knowledge of the plaintiffs. The Bank of Umatilla, Fla., in its receivership suit alleges that it loaned the Bankers Trust Company $491,500 to be place on call for investment. It declares that $213,000 of this money has been placed by the defendant concern with banks in Georgia and Florida, on June 14, the defendant concern paid back $50,000 to the Florida bank, leaving an unpaid balance of $441,500.

2. July 16, 1926 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, July 16, 1926

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Slain Girl's Sweetheart Says Paid Boston Doctor $150 for Illegal Operation Dr. Thomas E. Walsh Death Claims Wife as Law Charged with MurCalls to Charles W. Morse der of Edith Greene, Found Dismembered Former Shipbuilder Must AnsBANK CLOSINGS IN wer to Five-year-old IndictJames V. Ford Says Hired Docment for Fraud - Word tor but Refused to Aid in GEORGIA TOTAL 64 Comes from New York as Disposal of Body-Wife of Mrs. Morse Dies in Bath MAY REOPEN EARLY Physician also Involved Home-Sister Declares Once Atlanta, Ga., July 15-(P)-Fifteen Another Doctor Sought, BePowerful Financier Is Now additional state banks in Georgia lieved to Have Aided in and four state banks in Florida toHelpless Invalid Operation night are listed as having closed their doors following the bankruptcy Bath, Me., July 15.-(P)-Death proceedings instituted against the Boston, July 15.-(P)-Dr. Thomas and the law entered the household of Banker's Trust Company of Atlanta. E. Walsh and his wife, wanted on Charles W. Morse, former financier This brought the total number of murder charges in connection with and shipbuilder, almost simultaneousclosed banks in Georgia to 64. the death of Edith Green, were rely today. Mrs. Morse, who 25 years The closings generally in financial ported by police tonight as ready to ago sold her jewelry and household circles, generally was attributed to surrender. An early report that Dr. bankruptcy proceedings against the goods to satisfy claims against her Walsh had given himself up proved Bankers' Trust Company, which was husband, died suddenly at the home the financing for a string of 120 unfounded, and police said that arof Mr. Morse's sister. A short time banks. The four Florida banks were rangements for the surrender was later came word from New York that reported to have been members of cancelled when the physician failed the system. pleas of illness and informities would to keep an appointment with an inMany of the banks, the department not avail Mr. Morse in his effort to of banking said, probably would respector. refrain from pleading to a five-yearopen as soon as other financing arThrough his lawyer Dr. Walsh rangements could be made. old indictment charging him with usstated that he was in poor health Officials expressed the belief that ing the mails to defraud. and did not wish to surrender until a number of them would be found to Mr. Morse arrived here from New be in good shape, having turned their arrangements for the prompt furYork, Saturday. His wife, apparentaffairs over to the department pendnishing of bail had been completed. ing reorganization and the comple(Continued on Page 10-Col. 6) The girl's sweetheart, James V. tion of other financing plans. The Bank of Umatilla Tuesday inFord, told the police earlier today stituted a suit against the Bankers' that Walsh performed an illegal Trust Company, applying for a reCREW OF DRY NAVY (Continued on Page 10-Col. 8) ceivership for the company and obtaining a temporary injunction to revent officials of the company from BOAT BECAME RUM altering in any manner the status Says Boston Police of the chain of banks for which it Head Allowed Ford acted as financing agent. RUNNERS FOR CHANGE In its suit the Umatilla bank alleged that the Bankers' Trust ComLiberty for 7 Hours New York, July 15.-(P)-How a pany had procured several thousand Boston, July 15-(P)-A charge coastguard crew turned their governdollars from the bank and distributhat Superintendent of Ploice Michael ment boat into a rum runner in order ted among the various banks in Crowley allowed James Ford to be at Georgia and other financing comto "pick up some Christmas money" panies in Florida. The bank alleged liberty for seven hours after his conwas told in court today. officials of the company had admitfession to complicity in an illegal Paul Louis Crim, one of the 16 ted their inability to pay and operation on Edith Greene, dismemmen indicted with William V. charged the Bankers' Trust Company with being insolvent. berment victim, was made tonight by Dwyer in connection with the inacAtlanta creditors of the Bankers' District Attorney Thomas C. O'Brien. tivities of a $40,000,000 liquor ring. Trust Company intervened today and In a public statement Mr. O'Brien suddenly appeared as a government the federal court assumed jurisdicstated that seven hours before his witness in the trial of Dwyer and tion of the case, Judge Samuel Sibley announcing he would appoint a nine others. arrest, Ford, by his own admission, receivership for the company. Trial of Crim had been severed made a full confession to the police Florida creditors resisted federal superintendent and the editor of a because the district attorney told the intervention by endeavoring to show Boston newspaper. court when the case was called, Crim that the company conducted an in"Although," the statement continusurance business, insuring the deposwas a fugitive and had not yet been ed, "the facts disclosed by Ford were its of member banks, and that it was arrested. The district attorney exsuch as to constitute an admission of not under federal jurisdiction. plained today that Crim had unguilty of a felony punishable in the Atlanta creditors charged that the State prison for not more than 20 company had committed acts of expectedly given himself and had years, he was allowed to go at libbankruptcy when it "preferred cerimmediately been called to testify erty for seven hours after his contain clients over others when the against his alleged former conspiratfession, during which time the enbank was solvent." They also cited ors. tire city was combed by police offithe receivership granted in superior court. cers in an effort to apprehend him." Under examination Crim stated The arrest of Ford, Mr. O'Brien The trust company served as franthat he had been a member of the said, was made by a patrolman of cial agent for 120 banks, Paul T crew of the coastguard cutter CGhis office at 4 A. M., following an inBaker, its treasurer, told the court, 203, of which Captain Edward Galvestigation by the District Attorney's but did not receive deposits subject lagher, another defendant. was in to check. office yesterday afternoon. command. He testified that money am the Police

3. July 16, 1926 The Tampa Tribune Tampa, FL
Article from The Tampa Tribune, July 16, 1926

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REJECTION OF CHECKS ON FLORIDA BANKS IS ENDED BY GOVERNMENT (Continued from Page 1) bank, Cornelia, $40,000 and Bank of Lula, $15,000 and $14,273.90; Bank of Cassville, $15,000 and $65,453 27: Bank of Williamson, $25,000 and $178,812.11 and the Cornelia bank, Demarest, financial was not available. The four Florida banks reported closed were the Citizens Bank of Eustis, Bank of Mount Dora, Bank of Tavares and the Bank of Umatilla, each of which through posted on that they were temporarily for the protection of The Bank of Umatilla Tuesday instituted suit against the Bankers Trust Company, applying for ceivership the company and taining injunction prevent officials of the company from altering in any manner the status the chain of banks for which it acted as financing agent. Admit Conditions In its suit, the Umatilla bank alleged that the Bankers Trust Company had procured several hundred thousand dollars from the bank and distributed the among various banks Georgia and another bankers financing in Florida. The bank alleged officials of the company had admitted their fhability to and charged the Bankers Trust Company with insolvent. creditors of the Bankers Trust Company intervened today and the federal court assumed jurisdiction of the case, Judge Samuel Sibley announcing he would appoint a receivership for the company U. S. Intervention Resisted Florida resisted federal in. tervention by endeavoring to show that the company insurance business, insuring the deposits of member banks and that it was not under federal jurisdiction. The Umatilla bank joined in seeking to forefederal intervention. Atlanta creditors charged that the company had acts bankruptcy "preferred certain ellents over others when the bank was insolvent. They also cited the receivership granted in superior court. Judge Park, of Macon, eral counsel for the Georgia Bankers testified that the company, being trust company, amenable to the state banking depart ment and could not conduct banking business without an amendment to its charter. The trust served as financial agent for 120 Paul Bakits told the court, but did not receive deposits subject to check. Forty-one banks closed their doors yesterday the sought the Trust pany. Five banks closed on Tuesday and two on Monday Federal Receivers Former Governor Hugh Dorsey and J. Ottley, of the Fourth Na tional Bank, Atlanta, were designated as receivers the Company by Judge Samuel Sibley of the Georgia district federal court here T. R. Bennett, director of the state banking department, declared that the designation of Mr. Dorsey and Mr Ottley, is president of the Fourth National Bank, as had "added to the situation. The two were designated as receivers by Judge after his decision in federal court to assume jurisdiction in the proceedings brought against the Bankers Trust Company by Atlanta creditors. The by Mr. Bennett declared the atmosphere was "clearing. "While several additional banks closed their doors today,' he said, "the number is much less than was anticipated One bank which closed yesterday wired this morning to disregard the notice as it found that it able to carry on its business Another reported as closed advised that it had effected a consolidation with neighbor bank and is earing for all of its Several others which advised the department that they would be sured us today that they would be able to do All Are Member Banks "Practically all of the banks which have suspended in the last five days were connected Trust Company, and the failure of the trust company their pension. When it is known that the trust company affairs are being properly the banks and their customers will a new feeling of security repeat what said yesterday that there nothing wrong with Georgia her financial institutions The present is to causes originating the state and does not indicate on the part of Georgia banks. But for the difficulties of the Bankers Trust Company, not a bank in Georgia would have closed. "The trouble with the present situation not with the it is with the people. of proand realization of the fact that the banks are all right, and that the trouble was not by local conditions, and all will be well again. Agitators and hysterical people are doing harm. Let common reits and the flurry will soon be over and many of the banks will begin again to serve their communities.' Palatka Bank Closes State Bank Palatka closed its doors today following information of bankruptcy proceedings filed by several Florida and Georgia against the Bankers Trust Company of Atlanta, of which the Palatka institution was client.

4. July 16, 1926 The Knoxville Journal Knoxville, TN
Article from The Knoxville Journal, July 16, 1926

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Fifteen More Georgia State Banks And Four In Florida Close Doors Total Number Listed As Closed In Georgia To 64 Following Bankruptcy Against Bankers' Trust Co., Of Atlan ta; Many Likely To Reopen. additional state banks in Georgia and four state banks in Florida to night are listed as having closed their doors following the bankruptcy proceedings instituted against the Bankers' Trust company of Atlanta. This brought the total number of banks in Georgia to 64. The closings generally among financial circles were attributed to the banqruptcy proceedings against the Bankers' Trust company which was the financing company for a string of 120 banks. The four Flor ida banks were reported to have been members of the system. Many of the banks, the department said. probably would reopen as soon as other financing arrangements could be made. Officials ex pressed the belief that number of them would be found to be in good shape. having turned their affairs over to the department pending reorganization and the completion of other financing plans. The Georgia banks listed today. together with their capitalization and total resources and liabilities as of December 31. 1925. were: Banks Listed Taylor County bank. Butler $15. 000 and Bank of Lyerly. $15,000 and $236,670.77; Bank of Cusseta. $15,000 and 4,236 Rockmart bank $30.000 and $412. 989.04: Bank of Smyrna, and $204 Fairmount bank. $15.000 and $178,297 Macon County bank. Oglethorpe. $15,000 and $149.812.80; Lakewood bank. Atlanta. $50.000 and $184 485 Bank of Rochelle. $25,000 and $192. 58 000 and 06; Cornelia bank Cornelia. $40,000 and $734. 22; Bank of Lula. $15,000 and $14.273.90 Bank of Cassville. $15,000 and $65 453.27: Bank of Williamson. $25 000 and $178,812.11. and the Cornelia bank Demarest. whose financial statement was not available. The four Florida banks reported closed were the Citizens' bank. of Eustis. Bank of Mount Dora. Bank of Tavares and the Bank of Uma. tilla. each of which through notices posted on their doors announced that they were 'closed temporarily for the protection of depositors. Suit Instituted The Bank of Umatilla Tuesday instituted a suit against the Bankers' Trust company. applying for re. ceivership for the company and obtaining temporary injunction to prevent officials of the company from in any manner the status of the chain of banks for which it acted as financing In its suit. the Umatilla bank alleged that the Bankers' Trust company had several hundred thousand dollars from the bank and distributed the money among various banks of Georgia and another hankers financing comnany in Florida. The bank alleged officials of had ad mitted their inability nav, and charged the Bankers' Trust companv with being insolvent Atlanta creditors of the Bankers' Trust company intervened today and the federal court assumed jurisdiction of the case. Judge Samuel Sibley announcing that he would ap- pany Florida creditors resisted federal by endeavoring to show that the company conducted an insurance business. insuring the deposits of member banks, and that was not under federal jurisdiction. The Umatilla bank joined in seeking to foretsall federal interAtlanta creditors charged that the company had committed acts of bankruptcy when it "preferred certain clients over others when the bank was They also filed rceivership granted in super: for Judge Orville Park, of Macon, general counsel the Georgia Bankers' association. testified that the company. being a trust company, was not amenable to the state banking department and could not conduct a banking business with out an amendment to its charter. The trust company served financial agent for 120 banks, Paul Baker. its treasurer, told the court. but did not receive deposits subject to check Forty-one banks closed their doors after the receivership was sought for the Bankers' Trust company Five banks closed on Tuesday and two on Monday. Bennet Talks T. R Bennett director of the state banking department. declared in statement late today that the designation of Governor Dor sey and Mr. Ottley. who is president of the Fourth National bank as rehad "added confidence to the The two were designated as receivers by Judge Sibley after his decision in federal court to assume jurisdiction in the bankruptcy proceedings brought against the Bank ers' Trust company by Atlanta creditors. The statement by Mr. Bennett declared the atmosphere was "clear ing 'While several additional banks closed their doors today. he said. "the number is much less than an ticipated. One bank which closed yesterday wired this morning to disregard the notice. as found that it was able to carry on its business. Another reported as closed advised that had effected a con solidation with neighbor bank and is caring for all of its Several which advised the department that they would not be able continue have assured US today that they would be able to do "The appointment by Judge Sib ley. of the United States court, of former Governor Hugh M. Dorsey and Mr. K. Ottley. of the Fourth National bank, Atlanta, has added confidence to the situation. The appointment of the receivers sures careful and business- like administra of the affairs of the Bankers' Trust company and the preservation and proper application of its assets Practically all of the banks which have suspended in the last few days were connected with the Bankers' Trust company. and the failure of the trust their suspension. When it is known that the trust company affairs are being properly administered. the banks and their customers will have a new feeling security. Nothing Wrong "I repeat what said yesterdav that there is nothing wrong with Georgia and her financial institutions. The present flurry is due entirely to causes originating outside the state and does not indicate any weakness on the part of Georgia banks. But the difficulties the Bankers' Trust company, brought about by conditions in Florida, not bank in Georgia would have closed. "When it was announced that the trust company was no longer in nosition to finance the banks for whom had acted as financial agent. these were immediatly thrown on their own resources. Before they could adjust themselves and make new connections. all sorts of wild rumors were started. and in quite a number of places runs on the banks were started "To prevent the depletion of their assets pending the forming of new connections, it seemed to many banks necessary to suspend active business. As soon as they can readjust is confidently believed that large proportion will reopen. as the reports show that most of the banks which have suspended are solvent and many of them in excellent condition "In a number of cases there was no necessity for the closing of the banks even temporarily The directors simply lost their heads and turned over the banks to the department. In a few days when the present of hysteria has passed they will realize that they acted hastily and without proper consid-

5. July 16, 1926 The Miami Herald Miami, FL
Article from The Miami Herald, July 16, 1926

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NAME BANK RECEIVERS Take Charge of Trust Company In Georgia Heading Chain; 19 More Banks Close. [BY THE ASSOCIATED PRESS.] TLANTA, July 15.-Fifteen addiA tional state banks In Georgia and four state banks in Florida tonight were listed as having closed their doors following bankruptcy proinstituted the ers Trust Company This brought the total number of banks closed In Georgia this week to 64. Receivers for the Bankers Trust Company named today. The finan cial circles attributed to the proceedings the trust company, which the financcompany for string of 120 chain banks. The four Florida banks were reported to have been of the system. Many banks, the department said, would as as other financing arrangements be made The Georgia banks listed as closed Taylor County Bank, Butler: Bank Lyerly, Bank Bank, Bank of Smyrna, Fairmount Bank, Macon Bank of OgleBank of Atlanta, Bank of Rochelle, Habersham Bank Clarkesville, Cornelia Bank Cornelia, Bank Lula, Bank Cassville, Bank of Williamson and the Cornelia Bank of Demarest. The four Florida banks closed were the Bank Eustis, Bank Bank and the Bank of Umatilla, each of which through posted on their doors announced that they temporarily for the proand K. Ottley of the Fourth Naof The Bank of Umatilla Tuesday inagainst Trust Company of Atlanta for more than $400,000. applying for receivfor Former Hugh M. Dorsey tional Bank of designated for the Bankers Trust Company The trust served as financial for 120 banks, Baker, its told court, but did not receive deposits subject to check.

6. July 16, 1926 The Commercial Appeal Memphis, TN
Article from The Commercial Appeal, July 16, 1926

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BANKS STILL POPPING IN STATE OF GEORGIA Fifteen Additional Crashes Bring Total to 64. FLA, HELPS CAUSE ALONG Four Institutions in Palmetto State Post III-Omened Notices on Bank Blayed the Part of Blind Samson. ATLANTA, Ga., July (AP) Fifteen additional state banks in Georgia and four state banks in Florida tonight are Tisted as having closed their doors following the bankruptcy proceedings instituted against Bankers Trust Company of Atlanta. This brought the total number of banks in Georgia to 64. The closings generally among financial circles were attributed to the bankruptcy proceedings against the Bankers Trust Company, which was the financing company for a string of 120 banks. The four Florida banks were reported to have been members of the system. Many of the banks, the department probably would reopen as soon other financing arrangements could made. Officials the belief that number of them would be found be good shape, having turned their affairs over to the department pending re-organization and the completion of other financing plans. List Banks. The Georgia banks listed today. tocapitalization and total resources and liabilities as County Butler $15,000 and Bank Cusseta Mart and of $16,300 Bank Macon Atlanta Bank of Roch$25,000 and HaberCornelia Bank. and of Lula, Bang and Cornelia Bank, Demarest, statement was four Floriad reported The the Citizen Bank EusBank Mount Dora, Bank Bank through notices posted they their temporarily protecUmatilla Tuesday inThe Bank against the Bankers suit Trust for obtaining injunction ficials of the company any which it acted as financing agent. oning of Trouble. In its suit. the Umatilla Bank leged the hundred from the bank distributed the money among Georgia another FloriThe alleged company had their Bankers Trust being Atlanta creditors of the the federal Siblev Samuel nouncing would udge appoint receiverresisted federal creditors show that the the deposits that federal The Uma- foretilla joined that the Atlanta company committed when the bank was They also cited the in superior court. the that company. trust amenwithout an amendment its Agent for 120 Banks. for 120 told banks. court. but not receive deposits subjected to banks closed Trust closed on TuesBennett of the state that former added confidence to the situaJudge his decision (Continued on Page Two.)

7. July 19, 1926 Evening Star Washington, DC
Article from Evening Star, July 19, 1926

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GRAND JURY TO GEI BANKFAILUREDATA Records of Atlanta Institution to Be Examined In Closing of 80 Others. By the Associated Press. ATLANTA, July 19.-Records of the Bankers' Trust Co., whose bank. ruptoy proceedings last week brought about the closing of more than 80 small banks in Georgia and Florida, will be presented to the grand jury tomorrow by receivers for the banking institution and officials of the State Banking Department. The investigation will be conducted by the solicitor gèneral of the Atlanta district." The granting of a petition for receivership by the Bank of Umatilla, Fla., early last week brought about a suspension of business by the Bankers' Trust Co. and a restraining order from the Superior Court preventing officials of the company from altering in any way the status of the banks for which the company acted as financial agent. Controller Ernest Amos of Florida, M. B. Wellborn, governor of the sixth Federal Reserve district, and officials of the Georgia State Banking Department agreed that the general banking situation in the two States was good. They attributed the closings to the bankruptcy proceedings of the Bankers' Trust Co. and expresed the belief that many of the banks should be able to reopen within a short time, as soon as they were able to complete reorganization and other financing arrangements. No suspensions were reported in Georgia Saturday, and Judge Orville Park, general counsel for the Georgia Bankers' Association, said he believed the storm had passed. Controller Amos of Florida also expresed the belief that the crisis in that State had been passed. He attributed the closings to the inability of the banks to call their reserves into use when needed.

8. July 19, 1926 Tampa Bay Times St. Petersburg, FL
Article from Tampa Bay Times, July 19, 1926

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BANK FAILURES TO BE PROBED Interest at Atlanta Centers in Investigation of Recent Closings ATLANTA, July two-day respite from bank closings, interest today centered in the grand jury investigation opening Tuesday the affairs of the Bankers Trust company, whose bankruptcy proceedings week brought the closing of more than 80 small banks Georgia and Florida, members of chain which the company served fiscal agent. the Bankers Trust company and officials of the state banking department were instructed order issued riday present records the company the jury. The investigation by the general of the Atlanta district. Bankruptcy Proceedings The Bankers company suspended early petition by the Bank of Umatilla, Florida, court nesday and temporary order issued preventing officials the company the status of the which the company acted as financial agent. Coincident with the institution of bankruptcy came the state bank ing the activities of small banks Georvirtually all them members Bankers chain. Four Atlanta creditors Bankers Trust company Thursday and. upon hearing receivership federal court, Judge Samuel Sibley assumed the case and Governor Hugh Dorsey Ottley, president the Fourth of Atlanta, The number bank in Georgia brought the 80 and Officials the banking department, Florida comptroller. governor the reserve district, agreed the general situation good. They also that closings the bank. ruptcy proceedings the Bankers Trust company and the belief that many the should able reopen within short time, as they able complete reorganization and other financing arrangements. Director Kills Self tragedy climaxed the proceedings Friday when Smith, president the Atlanta real estate board and director the Bankers Trust shot himself shotgun. The Smith, was rector of the banks had operations. tributed relatives to worry financial difficulties. No suspensions reported and Judge Orville Park, the Georgia the that the had and more banks the system which would carry them past the crisis. first announcement the number Florida banks which during and immediately operations Bankers Trust came yesterday when Amos said that small Florida 25 members the Bankers Trust company chain, had closed their He also the belief that critical stage been passed. He attributed the closings the ability banks call their when needed.

9. July 19, 1926 The Tampa Times Tampa, FL
Article from The Tampa Times, July 19, 1926

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CLOSED BANKS' GRAND JURY Panel to Peer Into Financing Firm's Dealings. Associated Atlanta, Ga., July of the Bankers' Trust company, whose bankruptcy proceedings last week brought about closing of more than 80 small banks in Geor. gia and Florida, will be presented to the grand jury tomorrow by receivers for the banking institution and officials of the state banking department. investigation be conducted by the solicitor general of the Atlanta district. Granting of petition for receivership by the Bank of Umatilla, Fla., early last week, brought suspension of business by the Bankers' trust company and restraining from the superior court preventing officials of the company from altering in any way the status of the banks for which the company acted as financial agents. With the institution of bankruptey proceedings, came an nouncement the state banking department the suspension of virtually all members of the Bankers' Trust Added Thursday and Friday brought the number Georgia and Florida to more Ernest Amos, of Florida, Wellborn, governor of district and officials the bankdepartment agreed the general banking situation in the They attributed the closings the bankruptcy proceeding the Bankers' Trust company and expressed the belief that many the banks should be able reopen within short time, they Were able plete reorganization and other arrangements. No reported in Saturday, Judge Orville general counsel for the he the had passed. Comptroller Amos, also expressbelief crisis in that state had been passed. He attributed closings to inability of the banks call their serves into use when needed.

10. July 19, 1926 The Tuscaloosa News Tuscaloosa, AL
Article from The Tuscaloosa News, July 19, 1926

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GRAND JURY TO PROBE FAILURES OF SMALL BANKS ATLANTA, Ga., July 19 (AP) Records the Bankers Trust Company, whose bankruptcy proceedings last week brought about the closing of more than 80 small banks in Georgia and Florida will be presented to the grand jury to morrow by receivers for the bankinstitution and officials of the state banking department. investigation will be conducted the solicitor general of the lanta district. The granting of a petition for receivership by the bank of Umat illa, Fla., early last week brought about suspension of business by the Bankers Trust Company and restraining order from the super court preventing officials of the company from altering in any way the status of the banks which the company acted as finan cial With the insitution of bank ruptey proceedings came an announcement from the state bank. ing. department of the suspension of business of 48 small banks, vir tually all members of the Bankers Trust Company chain. Added suspension Thursday and Friday brought the number of bank suspensions in Georgia and Florida to more than 80. Comptroller Ernest Amos of Florida, M. B. Wellborn, governdr of the sixth federal reserve district and officials of the Georgia Banking department agreed that the banking situation in the two states was good. They at ributed the closings to the bankruptcy proceeding the Bankers Trust Company and expressed the belief that many of the banks should be able to reopen within short time, as soon as they were able to complete reorganization and other financing arrangements. No suspensions were reported in Georgia Saturday and Judge Orville Park, general counsel for the Georgia Bankers association, said he believed the storm had passed. Comptroller Amos of Florida alexpressed the belief that the crisis in that state had been passed. He attributed the closing the inability of the banks to call the reserves into use when needed.

11. July 19, 1926 The Selma Times-Journal Selma, AL
Article from The Selma Times-Journal, July 19, 1926

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JURY WILL PROBE COMPANY RECORD ATLANTA, Ga., July 19 Records of the Bankers Trust Company, proceedings week brought about the closing of more than small banks in and Florida will be to the jury toby receivers for the bankinstitution officials of the banking department. The investigation will be conducted by the solicitor general of the Atlanta dis- granting of petition for the Bank Umatilla. Fla.. last week, brought about the Bankers Trust and from the superior court presenting officials of the company from altering any the status the banks for which acted as financial institution of bankruptcy the state banking the of small banks, virtually of the Bankers Company chain. Added suspensions Thursday and Friday brought the number bank suspensions in Georgia and Florida more than 80. Comptroller Ernest Amos of FlorM. Wellborn. governor of the 6th federal reserve district, and officials the Georgia banking department agreed the banking situation the two state good. They the closing to the bankruptcy proceedings the Bankers Company and expressed the belief that of the banks should be to reopen within short time, as as they complete tion and other financing arrangements.

12. July 19, 1926 The Valdosta Daily Times Valdosta, GA
Article from The Valdosta Daily Times, July 19, 1926

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Case Macon Murder Time Marking GRAND WILL INVESTIGATE THE FAILURES SANITARIUM SWEPT BY A FIRE SUNDAY MORNING But To Women's Ward Damaged, Matter Will Be Presented No Casualties Occurred County Jury On Tuesday BANKING SITUATION DECLARED GOOD IS Officials of Both Georgia And Florida Declare That Real Conditions Are As Sound As Could Be (By Associated Press) Atlanta, Ga., July of the Banker's Trust company whose bankruptcy proceeding last week brought about the closing of more than eighty small banks in Georgia and Florida. will be presented Grand Jury tomorrow by receivers for the Banking Institutions and officials of the State banking departwill be The investigation ment. conducted by the solicitor general of the Atlanta district. The granting of petition for ceivership by the Bank of Umatilla, last week, brought Florida early of business by about suspension and Banker's Trust company the restraining order from the Superfor Court preventing officials of the altering any way fom company for which the banks status of the financial agent. acted as the With company the institution of the bank came an anproceedings ruptcy banking from the state nouncement of department of the suspension business of 48 small banks, virtually all members of the Bankers Trust Company brought the and Friday Thursday suspensions in of bank number to more than and Florida Georgia 80. Comptroller Ernest Amos of Florof governor M. B. Reserve district Sixth Federal the and officials of the Georgia Banking that the general agreed Department two states situation in the banking They attributed the closings to the bankruptcy proceedings of the Bankand expressed ers' Trust Company, of the banks the belief that many within be able to reopen should they were as soon as short able to complete reorganization and other Anancing arrangements. reported in suspensions were No Judge Georgia Park General Counsel for the Geor- besaid he Bankers' Association, gia lieved the storm had passed. Comptroller Amos of Florida also expressed that the crisis He had been passed. in that state the inaclosings to attributed call their of the banks to bility when needed. serves into use ORIGIN OF FIRE IS REPORTED AS UNKNOWN Most Of All Of The Patients, Whom Are Regarded As Hopeless Cases, Were Removed In Safety (By Associated Press) Milledgeville, Ga., July one thousand patients proximately in the main auditorium cared for the Georgia State Sanibuilding of tarium which visited by fire morning, have all been proSunday in the building where vided places they will be properly ward 18. where the ed until most damage, can be repaired. Origin of the fire yet unknown, cording to Sanitarium officials. No one was injured during the confumost of them sion, the patients, chronic incurables. rushed from after the fire was the building soon discovered into large open space of the building where in the rear until they could they were guarded be provided place last night. R. Swint. of Superintendent states that the the be heavy The damage will not to be repaired immediately. he said. For few minutes after the first was fire was the whole building thought that would be doomed but efficient work of the fire department at the sanitarium and the Milledgeville firemen, saved the damage from being departments were The two very effective in checking the flames. Two companies from Macon were ordered out and they made part of the trip to Milledgeville, headed by Walter but at Fire Chief Haddock in Jones County the firemen were stopped by Mayor Wallace Miller, who also rushed here soon as he learned news of the fire, and the firemen were turned back. Much praise has been given Chief Jett. of the sanitarium fire company, work he and his for the splendid well as the accomplished as men work done by the Milledgeville firemen. Dr. Swaint stated that the pawere marchmostly women, tients, ed from the noticeable confusion, although many of them are hopeless cases. The main fire damage was done although some damage in ward 18, other sections of the done to main building the large amount of water poured on the fire. Workmen will begin repairing the damage this week and it will be rushed to completion.

13. July 22, 1926 The Gaffney Ledger Gaffney, SC
Article from The Gaffney Ledger, July 22, 1926

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GEORGIA BANK CASE TO BE GIVEN GRAND JURY Testimony Will Be Turned Over for Consideration by Authorities. Atlanta, Ga., July 20.-Records of the Bankers' Trust company, whose bankruptcy proceedings last week brought about the closing of more than 80 small banks in Georgia and Florida, will be presented to the grand jury tomorrow by receivers for the banking institution and of ficials of the state banking department, The investigation will be conducted by the solicitor general of the Atlanta district. The granting of petition for receivership by the bank of Umatilla, Fla., early last week, brought about suspension of business by the Bankers' Trust company and a restraining order from the superior court preventing officials of the company from altering in any way the status of the banks for which the company acted as financial agent. With the institution of bankruptev proceedings, came announcement from the state banking department of the suspension of business of 48 small banks, virtually all member banks of the Bankers' Trust company. Added suspensions Thursday and Friday brought the number of bank suspensions in Georgia and Florida to more than 80. Comptroller Ernest Amos of Florida, M. B. Wellborn, governor of the Sixth Federal Reserve district, and officials of the Georgia Banking Department, agreed that the general banking situation in the two states was good. They attributed the closing to the bankruptcy proceedings of the Bankers' Trust company and expressed the belief that many of the banks should be able to reopen within a short time, as soon as they were able to complete reorganization and other financing arrangements. No suspensions were reported in Georgia Saturday, and Judge Orville Park. general counsel for the Georgia Bankers' Association, said he be lieved the storm had passed. Comptroller Amos of Florida, also expressed the belief that the crisis in that state had been passed. He attributed the closings to the inability of the banks to call their reserves into use when needed. Thaw Acclaimed Hero. New York, July Harry K. Thaw was being acclaimed at Long Beach as hero today although he insisted that he "didn't do a darn It all came about when a man got into trouble while swimming about 150 feet from shore. He called for help and a life guard brought him in. Thaw, who was spending the week-end at a Long Beach hotel went to the life guards assistance and helped pull the surf victim to land. In a joking spirit several friends of Thaw slapped- him on the back heard word. spread like wildfire down the beach that Thaw had rescued a man from drowning. His denials. were "taken for modesty and nothing he wassable to say could change opinion of the multi- Found Shot In Own Car. Buffalo, July 19.-With a revolver still in his hand. Micheal Ribarich, stationary engineer at the Monmouth Memorial hospital, Long Branch, N. J., was found dead in his automobile on Lincoln parkway here today. There was a bullet wound in his right temple. Although Medical Examiner Long said he practically certain the case is one of suicide, he is withholding death certificate pending further investigation. An empty billfold was found on the floor of the car, but $20 in cash and a watch was found in the dead man's pockets, discounting any robbery theory. His brother, Anthony Ribarich, Lackawanna soft drink place proprietor, said he knew of no motive for suicide. Police of Long Branch have been notified. Girl Drowned. Thomasville, Ga., July 20. Miss Gene Grissett, 17, of Richmond Va., was drowned at Vashti camp on the Ochlicknee river this while bathing. The body of Miss Grissett had not been recovered late today. She had been a student at the Vashti school for three years.

14. July 25, 1926 Vero Beach Journal Vero Beach, FL
Article from Vero Beach Journal, July 25, 1926

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BANKS CLOSINGS Flowed Florida Money Banks into Georgia Causing the Trouble The story of banking failures is of and in Florida one Georgia it involves the same terest because the downfall that worked principles where one in other states of banks bank trust dominating or lot of subordiunder its wing drew which to operate nate banks were feeders to the mother institution. banks as such are Florida But for the sound. and conof Georgia orgin bank system trol there would have scarcely been ripple on the financial sea of Florhas and that the calm come ida. Now more clearly the are seeing people Banks review the situation. well to entirely free locality being in this Georgia entanglements from the tained the confidence of the home ple whose institutions they are. of all banking the criterion From the Washington comes institutions at of Governor Crissinger, statement that Florreserve board, the federal fundamentally, and Georgia are ida W. McIntosh, sound. And attributes the trolled of the currency, the long chain of recent losing and Georgia to banks in Florida methods of that banking like ticular Florida, and troller Amos, state banking Bennett, that these Gorgia, predicts ent of will for the most part banks in the chain that banks not and be affected. not Can Be Told with his Sir Phillips Gibbs, Like after of the great war inside story be told" to "now it can the armistice, ready for reason. quiet minds Why the banks in Georgia and to close banks in Florida came the 27 the Bankers' is laid to their doors which of Atlanta, Trust Company for these banks acted fiscal agent as federal receivership and for whic ha jury in granted. A grand has been court in AtlanFulton county superior the of ordered to investigate ta has been Trust Com< of the Bankers' "failure instructed to and has been pany" its duty if violation of the state laws, is found." note the steps interesting to It is through which the series of closing Florida the first closing In passed. bank in Daytonia Beach, that of was the result of run which was of the ioned by the gathering their for to withdraw money teachers home during the for their departure An excitable months. summer of teachers lined the handful saw up to get their small deposits few and the bank!" In cried run on and an actual hours the news spread did result. of run West Palmi Followed closings at Beach, Palm Beach Buena Vista, Cocoanut Grove, Homestead and Dade City. The scene shifted to the town of loctaed bank where was Umatilla, capital of $30,000, with reported delesurplus of $20,000, and deposits of $430.00 and $480,000 placed with the Bankers' Trust Company of Atlanta. Hotel it shows that If the report be true, the entire bank's capital, surplus all placed with the deposits were ent organization in Georgia. On Page Eight Continued JULY TIDES Local tides are approximately earlier than the hours below which is for the table given nearest standard port. Water Water High Day 3:01 25 26 10:34 11:27 4:45 27 5:45 6:50 0:31 1:14 6:50 1:14 2:00 2:18 8:02 30

15. June 1, 1927 The Palm Beach Post West Palm Beach, FL
Article from The Palm Beach Post, June 1, 1927

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FIRST AMERICAN HERE ADDS GRATIFICATION Twenty-five Banks Closed In State Are Reopened In Last Nine Months BANK OPENS May thority has been granted the People's Bank, St. Cloud to reopen was announced today the state banking department. The bank pended operations sometime ago. By the Associated Press May by the state banking the rapid succession of bank reopenings taking Reopening of the Bank of Orange Trust and the American Bank and of West Palm the latest of the institutions announce resumption of business satisfaction here by the department officials. The was declared. has due largely operative efforts extended among banking department officials and heads the institutions, and excellent prevailing among the public Particularly the latter, such progress could not be accomplished, was stated. Since banks had have reopened. according to revised list compiled by banking department heads. Two other institutions and later closed Following list of the reopened banks of the state, their location. and the date their repoening: Citizens Bank of Bushnell, Bushnell, Feb. 1927 Delray Bank and Bank and St. Oct. Bank County Sept. 14. Bank Dade City, Dade City, Palatka Bank and Trust company, Palatka, Bank GroveDec. Bank of Umatilla, Umatilla, 1926: First State Bank Clermont, ClerSept 28, 1926 Citizens Bank Eustis, Oct. 1926: Bank Mount Dora, Mount Dora, Sept. 1926: Bank of Aug. 24, 1926 Bank of OakOct. Bank of Live Oak. Live Oak, Sept. Bank Sept. 13, 1926 Lake Butler, Dec. Bank of Monticello, 14, 1926: Polk County Trust Lakeland. 28, State Bank. Lake 1926: East Florida Stuart Bank and Trust company. Stuart, Oct. 1926: People's Bank Sept 1926: Palmetto State Bank. Palmetto, May 19. 1927: Bank Orange and Trust company. Orlando, May 23. 1927, and First American Bank and Trust company. West Palm Beach, May