American National Bank (Pensacola, FL)

View Charter #5603 on SPMC View balance sheet

Episode Information

Episode UID
560301369
Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
56030 national
Charter Number
5603
Start Date
January 9, 1914
Location
Pensacola, Florida (30.421, -87.217)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d3ca605d15c810ed

Response Measures

Accommodated withdrawals, Capital injected, Partial suspension, Full suspension, Books examined

Receivership Details

Date receivership started
1914-09-02
Date receivership terminated
1914-11-30
OCC cause of failure
Run

Description

Two separate run episodes in 1914: a January run tied to First National's trouble and a fatal September run from rumors that led to suspension and receivership; bank later reopened.

Events (8)
1. October 22, 1900 Chartered
Source
historical_nic
2. January 9, 1914 Run
Cause
Local Banks
Cause Details
Run triggered by news of suspension/trouble at the First National Bank in Pensacola, prompting heavy withdrawals
Measures
Bank provided ready cash and met withdrawals; large depositors placed deposits to show confidence.
Newspaper Excerpt
Pensacola Banks Prepared for a Run and Allayed a Temporary Panic ... the American National Bank yesterday experienced a run by depositors ... following the announcement of the suspension of the First National Bank
Source
newspapers
3. September 1, 1914 Run
Cause
Rumor Or Misinformation
Cause Details
Sensational reports and persistent damaging rumors about the bank's solvency circulated and triggered rapid withdrawals
Measures
Bank closed its doors to halt withdrawals after reserves were depleted below legal requirement.
Newspaper Excerpt
The American National Bank of Pensacola closed its doors today after a run lasting about an hour. Sensational reports circulated yesterday are responsible.
Source
newspapers
4. September 1, 1914 Suspension
Cause
Rumor Or Misinformation
Cause Details
Directors closed the bank after heavy withdrawals caused by persistent damaging rumors, citing depleted reserve.
Newspaper Excerpt
The American National Bank closed its doors yesterday morning as the result of a run on the bank ... it was resolved ... that the American National Bank ... be closed to business and that no further deposits be received ... until the further order of the comptroller of the currency
Source
newspapers
5. September 2, 1914 Receivership
Source
historical_nic
6. September 2, 1914 Receivership
Newspaper Excerpt
the comptroller of the currency appointed W. H. Milton as receiver of the institution and he will take charge this morning.
Source
newspapers
7. November 30, 1914 Reopening
Newspaper Excerpt
This office ... is hereby authorized to resume business on Monday, Nov. 30, 1914. James G. Pace is President ... the American National Bank ... will re-open its doors within a week or ten days ... institution to open next week.
Source
newspapers
8. November 30, 1914 Restored To Solvency
Source
historical_nic

Newspaper Articles (20)
1. January 9, 1914 The Ocala Evening Star Ocala, FL
Article from The Ocala Evening Star, January 9, 1914

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Article Text

STOOD THE STRAIN Pensacola Banks Prepared for a Run and Allayed a Temporary Panic Pensacola, Jan. 9.-Following the announcement of the suspension of the First National Bank, Pensacola's oldest banking institution, within sixty days of the failure of the Pensacola State Bank, the American National Bank. yesterday experienced a run by depositors such as has never before been witnessed in Pensacola. Expecting a heavy run following the suspension of the First National which has been known to be on the verge of suspension since Monday, every other bank in the city provided itself with ready cash to meet any emergency and the American National Bank easily furnished the money called for. The rush to withdraw deposits was confined principally to the smaller depositors, and when the bank opened the street was almost blockaded with people anxious to enter. Five policemen were necessary to preserve order among the depositors and the sightseers. The run continued throughout the day, but the bank is amply provided with funds, and will continue business if every dollar of deposits is withdrawn, it was announced. Large depositors continued to place deposits during the morning.

2. January 9, 1914 The Times Dispatch Richmond, VA
Article from The Times Dispatch, January 9, 1914

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SHOW FAITH IN BANKS Pensneola Business Men Make Heavy Deposits When Run Is Started. Pensacola, Fla., January 8.-News of the failure of the First National Bank of Pensacola to open its doors this morning started runs on the American National and the Citizens' and Peoples' National Banks. Both institutions withstood the run, local business men, showing their faith in each by making heavy deposits Both banks closed the day's business with more money on hand than when they opened this morning. Officers of the First National Bank issued a statement to-Gay setting forth reasons for closing, charging their troubles to a Liverpool, England. firm that could not meet heavy drafts on them that had been honored by the local banks. The books and assets of the bank are. sealed, awaiting the arrival of bank examiners.

3. September 1, 1914 The Daily Ardmoreite Ardmore, OK
Article from The Daily Ardmoreite, September 1, 1914

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FLORIDA BANK IS CLOSED. With Nearly Two Millions in Depos. its, Bank Closes Following Run. Pensacola, Fla., Sept. 1.-The American National Bank closed its doors today after a run. The bank had deposits of one million, seven hundred thousand dollars.

4. September 1, 1914 The Lakeland Evening Telegram Lakeland, FL
Article from The Lakeland Evening Telegram, September 1, 1914

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PENSACOLA BANK CLOSED ITS DOORS (By Associated Press) Pensacola, Fla., Sept. 1.-The American National Bank of Pensacola closed its doors today after a run lasting about an hour. Sensational reports circulated yesterday are responsible. The streets were crowded after the doors closed. The officials refused to talk. The bank's capital is $300,000 with a surplus of $35,000; deposits $1,715,000. On Jan. 1 the loans and discounts totaled $2,000,000.

5. September 2, 1914 The Pensacola Journal Pensacola, FL
Article from The Pensacola Journal, September 2, 1914

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The American National Bank closed its doors yesterday morning as the result of a run on the bank by depositors who began to draw out their money when the bank opened for business at 9 0° 'clock. Late yesterday afternoon the comptroller of the currency appointed W. H. Milton as receiver of the institution and he will take charge this morning. Whether the bank will be opened and operated by the receiver or put through a process of reorganization can only be determined after an examination by the agents of the comptroller of the currency, but it is generally believed by the business public that the bank will be found to be perfectly solvent and that depositors will all be paid in full when the affairs of the institution are adjusted. At the hour of opening yesterday the bank had cash on hand to the amount of $162,000 and this with the addition of its exchange and other cash items represented much more than the required legal reserve. The withdrawals during the morning amounted to $62,000, and when it became evident that the run was to be continued the only thing the bank could do, for the protection of all interests, was to close its doors. RUN RESULT OF RUMORS. The run on the American National Bank was the direct result of rumors which had been in circulation for Several days in reference to the bank's solvency. There seemed to be no foundation for the rumors and none of them could be traced to the original source, but they proved their effect tiveness to a most remarkable degree. The rumors were particularly persistent Monday night and by Tuesday morning many of the small depositors of the bank were at the door waiting to get their money. When it appeared that the run was likely to develop into larger proportions, President C. W. Lamar called a meeting of the directors and after at canvass of the situation the following resolution was passed: RESOLUTION ADOPTED. "At a meeting of the board of directors of the American National Bank of Pensacola, Florida, held in the directors' room of said bank in the city of Pensacola, at the hour of ten o'clock, pursuant to notice duly given to each director residing in the city of Pensacola, there were present Messrs. C. W. Lamar, H. L. Covington, Thos. V. Hannah, W. S. Rosasco and Frank Reilly. The president reported to the directors that, owing to conditions arising during the course of business on the 31st day of August and the early morning of the first day of September, followed by heavy withdrawals, caused by persistent damaging rumors, the reserve of the bank was rapidly being depleted to such an extent as to reduce it below the legal requirement, and that the reserve could not be within a limited time replaced within the usual course of business. Upon motion duly made by H. L. Covington and seconded by Frank Reilly, it was "RESOLVED, That the American National Bank of Pensacola, Florida, be closed to business and that no further deposits be received, nor checks, drafts, moneys or other of its assets be paid out until the further order of the comptroller of the currency and that the comptroller be duly notified immediately by telegraph and that this announcement be made by the bank at once.' Following this action by the direc. tors the bank's doors were closed and a notice posted on the door announcing (Continued an Page Three)

6. September 2, 1914 The Daily Telegram Clarksburg, WV
Article from The Daily Telegram, September 2, 1914

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BANK FAILURE. (BY ASSOCIATED PRESS) PENSACOLA, Fla., Sept. 2-The American National Bank of Pensacol has closed its doors after a run lasting about an hour. Aroused by sensational reports circulated last night depositors flocked to the bank this morning.

7. September 2, 1914 The Pensacola Journal Pensacola, FL
Article from The Pensacola Journal, September 2, 1914

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tation looking to an adjustment of the unfortunate situation. To a Journal representative President Lamar said that an examniation will demonstrate that the bank was simply the victim of groundless rumors that resulted in the run and that every depositor will be paid in full. ORGANIZED IN 1900. The American National Bank was organized in 1900 by W. C. O'Neal and others. After President O'Neal's death in 1905, H. L. Covington was elected president and he was succeeded by C. W. Lamar. The bank enjoyed prosperity from the beginning and in 1908 erected the handsome bank and office building which has been its home since that time. The present officers are C. W. Lamar, president; Thos. V. Hannah, vice-president; M. E. Clark, cashier; John Pfeiffer, assistant cashier; J. W. Andrews, assistant cashier. The last published statement of the bank, for the close of business on June 30, showed a capital and surplus of $360,000, with cash and amounts due from other banks of $518,887.18. Its deposits amounted to $1,705,923.53. The bank was probably in better or in as good condition when it opened business yesterday morning as it was on June 30 when its last statement was made.

8. September 2, 1914 Pine Bluff Daily Graphic Pine Bluff, AR
Article from Pine Bluff Daily Graphic, September 2, 1914

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RUMORS DO FOR ANOTHER BANK The American National of Pensacola, Fla., Forced to Close by "Run." Pensacola, Fla., Sept. 1-The American National bank of Pensacola closed its doors today after a run lasting about an hour. Aroused by sensational reports circulated late yesterday and last night depositors flocked ot the bank this morning. For some time after the doors were closed streets in front of the bank's tenstory building were crowded. Officials of the bank could not be communicated with un until noon. The bank had deposits of $1,715,000, according to the last annual statement. The capitalization is $300,00 and the surplus $35,000 On last January 1 its loans and discounts amounted to $2.000.000, C. W. Lamar is president of the institution, and M. E. Clark cashier. The American National successfully weathered a severe storm a few months ago when the First National bank closed its doors.

9. September 2, 1914 The Times Dispatch Richmond, VA
Article from The Times Dispatch, September 2, 1914

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PENSACOLA BANK CLOSES Depositors Aroused by Sensational Reports. Make Run on Institution. PENSACOLA, FLA., September 1.The American National Bank of Pensacola closed its doors to-day after a run lasting about an hour. Aroused by sensational reports circulated last night. depositors flocked to the bank this morning. For some time after the doors were closed streets in front of the bank's ten-story building were crowded. Officials of the bank have made no statement The bank had deposits of $1,715,000. according to the last annual statement. The capitalization is $300,000, and the surplus $35,000. On last January I its loans and discounts amounted to $2,000,000. C. W. Lamar is president of the institution, and M. E. Clark, cashier. The American National successfully weathered a severe storm a few months ago. when the First National Bank closed its doors.

10. September 3, 1914 Ottumwa Tri-Weekly Courier Ottumwa, IA
Article from Ottumwa Tri-Weekly Courier, September 3, 1914

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TO PUT RECEIVER IN CHARGE OF BANK Washington, D. C., Sept. 2-Arrangements are being made to put a temporary receiver in charge of the American National bank of Pensacola, Fla., which closed its doors today after a short run. A brief report to the comptroller of the currency says the bank was closed by its directors but gives no details.

11. September 4, 1914 The Pensacola Journal Pensacola, FL
Article from The Pensacola Journal, September 4, 1914

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THE LATTER BUSY ALL OF YESTERDAY Will Require Several Days Before Proposed Plan Can be Got Into Shape For Presentation to Comptroller of Currency, But All Depends Upon the Depositors Themselves. No one is taking any more interest in the reopening of the American National Bank than is Receiver W. H. Milton. He is co-operating with the committee of depositors in every way, and to a Journal representative last night, Mr. Milton said: "I am deeply interested in seeing the American National re-opened No depositor could feel a keener interest in it than I feel and I am ready to co-operate in every way possible to the end that the bank may be able to resume business at the earliest possible time. Pensacola and West Florida need this bank and I sincerely trust the plans now being made for re-opening It will prove effective." The depositors committee, headed by Morris Bear, was busy all day yesterday and until late last night going into the details of the bank's condition and satisfactory progress is being made. It will require several days, however, before the proposed plan, as outlined in The Journal yesterday, can be got into shape for presentation to the comptroller of the currency, but the public will be advised as the work progresses. The plan of course depends entirely on the depositors themselves and until they can be communicated with and their agreement to it secured, it cannot be put into effect. Public sentiment regarding the American National seems to be unani mously in favor of its resuming business and all depositors who have been heard from are free in their approval of the plan proposed. The suspension of a bank is, in probably 99 cases out of 100, followed by more or less criticism of the management of the institution. The case of the American National, however, appears to be an exception to the rule, Not only has there developed no criticism, but the bank and the bank management probably never had so many friends as they have now. An examiner sent by the comptroller of the currency is expected to arrive in a day or two, but the committee will in the meantime keep at work on the plan for an early resumption of business by the bank.

12. September 13, 1914 The Pensacola Journal Pensacola, FL
Article from The Pensacola Journal, September 13, 1914

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To Reinstate Local K. of C. An important meeting of the local branch of the Knights of Columbus will be held at the usual hour this evening, and the attendance of every member is earnestly desired. Important work is to be done. It was stated officially yesterday that the local branch stands suspended, and the meeting this evening will mainly be for the purpose of remedying this condition with national headquarters. The draft which was sent in payment of the local branch's c-bligations to the national headquarters was not honored on account of the failure of the American National Bank in Pensacola, and there will be some plan worked out at the meeting to place the Pensacola branch in the usual good standing. Dr. M. A. Lischkoff is out aug23tf of the city

13. September 20, 1914 The Pensacola Journal Pensacola, FL
Article from The Pensacola Journal, September 20, 1914

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A Warning. The suspension of the American National Bank in Pensacola, with the added stringency in financial matters in this section which this has brought about, all came from idle gossip. The bank was perfectly solvent. there is no question as to the honesty of its officials, but in the excited state of the public mind it required but little to start a run which necessitated its closing. Another warning against talking about things of which you know nothing.-DeFuniak Breeze.

14. November 19, 1914 The Pensacola Journal Pensacola, FL
Article from The Pensacola Journal, November 19, 1914

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PEOPLE AT THE CAPITAL RECEIVER MILTON AND MESSRS. PACE AND BEAR SEE COMPTROLLER OF CURRENCY ABOUT OPENING OF AMERICAN NATIONAL BANK-INSTITUTION TO OPEN NEXT WEEK. SPECIAL TO THE JOURNAL Washington, D. C., Nov. 18.-The American National Bank of Pensacola, which went into receivership two and a half months ago, will re-open its doors within a week or ten days. The Comptroller of Currency agrees to this arrangement, and announcement that the bank will re-open was made yesterday by ex-Senator W. H. Milton, its receiver. With Senator Milton here are J. G. Pace and Morris Bear, who will be president and vicepresident, respectively, of the reorganized bank. All three will go from here to New York to get acquainted with the bank's correspondent and other financiers there. The reorganized bank will have finances and prestige to make it a very strong institution.

15. November 21, 1914 The Lakeland Evening Telegram Lakeland, FL
Article from The Lakeland Evening Telegram, November 21, 1914

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PENSACOLA'S SUSPENDED BANK TO REOPEN NEXT WEEK Pensacola, Nov. 21 . -As soon as the accounts can be checked over so that Receiver W. H. Milton can be given a receipt for the bank's assets. the American National Bank will reopen for business. This announcement was made yesterday afternoon by a member of the committee which has been interested in the reorganization of the institution. It is expected that the checking will be completed and the bank will be open again by the first of next week, or by the middle of next week at the most. John G. Pace will be president of the American National under the new management and Morris Bear will be vice president. It is announced that the other officers and directors as yet have not been officially determined upon. President Pace and Vice President Bear left Pensacola. accompanied by Receiver W. H. Milton. Saturday night. Advices to begin checking out with the view of opening as soon as possible were received vesterday. The committee of citizens has been hard at work on the reorganization of the bank since it closed its doors on the first of last September. Hearty co-operation was met on all sides as there was an abiding fidelitv in the institution which was forced to close as the victim of wild rumors and extraordinarv conditions.

16. November 29, 1914 The Pensacola Journal Pensacola, FL
Article from The Pensacola Journal, November 29, 1914

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January Meeting. Tomorrow. November 30, after at temporary suspension of three months lacking one day, the American National Bank will reopen its doors for business under a financial organization which, in point of actual cash resources, as compared with the size of the bank itself, probably makes it the strongest banking institution in Florida. Of the 554 national banks that have suspended during the history of the national banking business, but 25 have ever reopened and the American National Bank will be the 26th. That the bank is able to reopen now, and under such unusually favorable circumstances, must be ascribed to the fact that it was entirely solvent when it closed, that it commanded the good will of the public even during its misfortune, and that the men who have accomplished its reorganization themselves command the confidence of the people to a marked degree. In fact, such was the confidence of the business public in the American National Bank, and in the men who now stand at its head, that the necessary stock issue of $150,000 was oversubscribed and the bank actually had more money tendered for its reorganization than it had stock to issue. Tomorrow the American National Bank will open with over $600,000 of actual cash on hand and in banks and with deposits aggregating $1,229.000, of which only about $200,000 is now payable on demand, the balance being time deposits for three. six, nine, and twelve months as per the depositors' reorganization agreement. THE OFFICERS. The officers of the bank will be as follows: President-Jas. G. Pace. Vice President and chairman of fid nance committee-Morris Bear. Acting Cashier-Jas W. Andrews. Directors-W. H. Northup, E. A. Vinson, Jas. G. Pace, Morris Bear, S. Pasco. Jr., D. Kugleman, Geo. P. Wentworth, and Jos. M. Levy. It was the original intention to have a much larger directorate, and the latter will be enlarged at the annual meeting in January. It was impossible to make the directorate larger now owing to the fact that the bank is still operating under its charter and business organization of the past year and the number of directors cannot be increased except at the regular meetings as provided by law. Among those whose names will be considered for the additional directors in January are S. A. Alford, Dr. W. C. Dewberry, R. Leon Jones, D. S. Oppenhiemer, and John H. Pace. The position of cashier has not been filled, but it will probably be filled in a the near future. The position is most important one, requiring if possible the services of a practical and experienced banker, and the directors did not wish to take hasty action. Jas. W. Andrews, who was assistant cashier under the old organization and who is thoroughly in touch with the details of the bank's business, will be acting cashier until a new man is selected. Mr. Andrews is not only efficient and able, but he has scores of friends who will be glad to do business with him at the bank again. TWO STRONG MEN. The new president, Jas. G. Pace, is one of Florida's wealthiest citizens and business men. He is the owner s of a vast tract of land in Santa Rosa County, and of large interests in Escambia County. He has built up his t fortune and his business by conservative methods and by the open, straight) forward, and honest business dealings t that are characteristic of his integrity of mind and purpose. He will constitute a pillar of strength to the institution in which he becomes the e guiding spirit. t Morris Bear, vice president and chairman of the finance committee, is e one of the best known business men 1 in Florida. He has in his own personal , affairs demonstrated a capacity for business that few men possess, and the size and solidity of the Lewis Bear a Co., of which he is the head, demont strate in themselves the ability which 1 makes Mr. Bear so valuable a factor in the reorganization and future of the g American National Bank. e Two stronger or better men for the , great enterprise could not have been found than Mesers. Pace and Bear and the name of either by itself would be sufficient to establish the institution in the confidence of the business pubE lic. C. W. Lamar, former president of the n while not officially connected will s bank, with the reorganized institution, at assist the officers for a time least

17. November 29, 1914 The Pensacola Journal Pensacola, FL
Article from The Pensacola Journal, November 29, 1914

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AMERICAN NATIONAL BANK AFTER 90 DAYS' SUSPENSION REOPENS DOORS TOMORROW With New Money and New Officers Institution Now Telegram From Comptroller. One of Strongest Washington, D. C., Nov. 28, 1914. W. H. Milton, Receiver American National Bank, Pensacola, Fla. MORE THAN $600,000 This office having been advised by you that the directors of the American National Bank of Pensacola, Florida, have complied with the IN CASH ON HAND requirements requested of them, and that the bank now has sufficient funds with which to conduct business, the American National Bank is hereby authorized to resume business on Monday, Nov. 30, 1914. James G. Pace is President JOHN SKELTON WILLIAMS, Comptroller of the Currency. and Morris Bear is Vice-

18. December 4, 1914 The Palatka News and Advertiser Palatka, FL
Article from The Palatka News and Advertiser, December 4, 1914

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PENSACOLA BANK REOPENS American National Bank, Which Recently Closed, Reopens Its Doors For Business Pensacola.-The American National Bank, which closed its doors following a run several months ago, threw open its doors again under new management. With that end in view, a large corps of clerks and assistants are working day and night this week, and it is expected that there will be no hitch in the arrangements to resume business. The announcement that business will be commenced again came from the lips of the committee on reorganization and the new officers to form the official personnel of the institution. Receiver Milton is busy in making out time certificates of deposits for periods of three, six nine and twelve months to those having over a certain sum on deposit, in conformity with agreements signed by the depositors.

19. December 6, 1914 The Pensacola Journal Pensacola, FL
Article from The Pensacola Journal, December 6, 1914

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OTHER BANKS WELCOME BACK THE AMERICAN THE GREATER PENSACOLA CLUB LUNCHEON MEETING HEARS ENTHUSIASTIC SPEECHES OF GRATIFICATION OVER RETURN OF AMERICAN NATIONAL BANK TO BUSINESS ACTIVITY. Yesterday's luncheon meeting of the Greater Pensacola Club was the largest and most enthusiastic that has occurred in a long time. According to President Bingham's announcement the meeting was in the nature of a celebration over the return to business activity of the American National Bank and it aroused great enthusiasm. A significant and pleasing feature of the affair was the ovation given to President Jas. G. Pace and former President C. W. Lamar, of the American National, when they entered the room and later to Mr. Lamar when he arose to respond to the several speeches of welcome. The cheers and applause lasted for some moments and it was with difficulty that he could begin his remarks. John S. Beard presided as toastmaster in his usual eloquent and happy manner, and he announced President J. S. Reese of the Citizens and Peoples National Bank as the first speaker. Mr. Reese spoke in strong terms of his gratification over the return of the American National to active business and he complimented the men whose energy and means had made it all possible. He paid a fine tribute to Receiver W. H. Milton for his own good work in looking after the interests of the bank. In closing, Mr. Reese gove eloquent expression to his faith in Pensacola, her people and her future. President R. W. Goodhart responded on behalf of the National Bank of Commerce. He said the reopening of the American National had accomplished more good than was visible. It had restored confidence and we need confidence. Its suspension was due to conditons which no one could foresee, and its rehabilitation shows that we are all getting together-a very essential thing. Mr. Goodhart extended the compliments and best wishes of his own bank to the reorganized institution. Wm. Fisher, a director in the Banking, Savings and Trust Co., spoke in behalf of that institution. Mr. Fisher said that adversity sometimes served a good purpose. It brings out friendships and removes the glitter of material prosperity, enabling one to see the facts as they are. It teaches that We are all dependent on each other and that when a competitor goes down it is our duty to help him onto his feet again. He welcomed the American National back and said the thanks of the community were due to the men who reopened it. C. W. Lamar responded on behalf of the American National Bank, but it was apparent that he was greatly affected by the remarks of the previous speakers and the ovation which was given him when he arose to speak. Mr. Lamar expressed his heartfelt appreclation of the welcome to the bank and of the co-operation which had made its reorganization possible. He had found that one of the chief assets of a business was friends and he was happy that the bank had SO many friends. In adjourning the meeting, President Bingham announced that next Saturday would be "Chamber of Commerce day," and he expressed the hope that a large gathering would be present.

20. December 20, 1914 The Pensacola Journal Pensacola, FL
Article from The Pensacola Journal, December 20, 1914

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Pensacola's Revival As Seen on the Outside. Pensacola's business revival is being noted by outside people and papers and their expressions, added to the faith of our own people, are splendidly indicative of the high place which Pensacola holds in the purview of every careful student of future events. The Montgomery Advertiser recently said: Times are better in Pensacola. The banks of that city have been reinvigorated, after a season of punishment and illness; they are stronger now than ever before. Pensacola should go forward now. She is recovered, practically, from her many troubles which ailed her long before she started. The American National Bank of Pensacola, which suspended operations three months ago has re-opened with over $600,000 in actual cash with which to begin. The bank has been re-organized by the business men of Pensacola. In speaking of this cheering event, The Pensacola Journal says: "During the past year all but one of Pensacola's banks have suspended. The one that did not suspend is stronger now than it was a year ago, and for each of those that did suspend we have an absolutely solvent and infinitely stronger institution than exlisted before. "Could anything more be said, and could any Pensacolian desire more as an evidence of the recuperating power of the Deep Water City and section?" The Advertiser begs to extend its congratulations to Pensacola. We have seen good and deserving families touched with sickness, proving again that troubles come in bunches. But all of a sudden all members of the family begin to recover; when they do recover they are healthier and more prosperous than before. It was much the same with Pensacola. Within the past eighteen months her troubles seem to come in bunches. But now they are leaving in bunches. There is no reason in the world why Pensacola should not go forward in leaps and bounds. Pensacola, like Mobile, is bound to become one of the great seaport cities of the country. We think it has already started to gain that growth which will make it such a city. This is exactly the view that our own people hold, and we are gratified to see it expressed by so able and observing a journal as the Montgomery Advertiser.