gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
8b3dfb179a32c93a
Response Measures
None
Events (3)
1.July 6, 1929Run
Cause
Local Banks
Cause Details
Runs at Southside were precipitated by the closing of nearby Woodlawn Savings and other local bank failures.
Measures
Officials ordered doors closed temporarily; officials announced depositors wishing to withdraw would be paid promptly.
Newspaper Excerpt
A Birmingham run on the Southside Bank following the closing of the Woodlawn Savings Bank resulted in temporary closing today.
Source
newspapers
2.July 6, 1929Suspension
Cause
Local Banks
Cause Details
Temporary suspension was ordered after heavy withdrawals triggered by nearby bank closures and runs.
Newspaper Excerpt
A Birmingham run on the Southside Bank ... prompted officials order its doors closed. Officials said it would be re-opened Monday.
Source
newspapers
3.July 15, 1929Reopening
Newspaper Excerpt
The Southside bank, which closed its doors July 6 during a heavy run on its resources by depositors reopened for business today. State bank examiners ... found it solvent and meriting the confidence of the public.
Source
newspapers
Newspaper Articles (24)
1.July 6, 1929The Dothan EagleDothan, AL
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WOODLAWN BANK CLOSES DOORS THIS MORNING
Third Bank In Birmingham Vicinity to Close In Past Two Weeks
BIRMINGHAM, July Bank closed its Woodlawn Savings doors this morning on the orders of A. W. Bell, president, following the withdrawal of several large accounts. It was the third bank to close its doors here the past two weeks. C. E. Thomas, state examiner will take charge immediately. The bank was organized in 1914 with capital stock of $50,000 and surplus, $35,000. Other banks that closed were the Avondale Bank and Savings Co., and the City Bank & Trust Co. A Birmingham run on the Southside Bank following the closing of the Woodlawn Savings Bank resulted in temporary closing today. Officials said it would be re-opened Monday.
2.July 7, 1929The Salisbury PostSalisbury, NC
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Two Alabama Banks Closed Sat.; Of Official Is Sought
Birmingham. Ala., July affairs banks which closed today bringing total four banking institutions which have failed open in the Birmingham district the past ten days, under the state banking officials tonight Meanwhile were redoubling efforts locate the body Dr. Bell. dent the Woodlawn Savings bank. one of the institutions which closed today drowned this morning the Coosa river Vincent. Ala Dr. Bell reportto have gone swimming party of friends shortly after he arrived his country place for the week end The report of the closing of the Woodlawn caused run on the Southside bank which prompted officials order its doors closed Officials the Southside bank said that closing temporary that the would open for business Monday morning.
3.July 7, 1929The Washington HeraldWashington, DC
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Failure Marks Fourth Within Two Weeks and Depositors In Alabama Are Atremble
BIRMINGHAM, Ala., July 6 prevailed in banking circles here tonight following the failure of two banking institutions to open their doors today and the reported drowning of Dr., W. Bell, president of one of the institutions, in the Coosa River, near Vincent, Ala. The closing of the two banks. The Woodlawn Savings Bank and The Southside Bank. brought to total four banking houses failing to open during the past two weeks. Dr. Bell president of The Woodlawn Bank. was reported to have drowned while bathing in the river with narty of friends at his home near Vincent DEPOSITORS PANICKY Search for his body is being made. Runs on other banks of the city, precipitated by the closing of The Woodlawn and Southside institutions. caused officers to keep their houses open tonight to allow depositors to withdraw their money if desired it. they The Southside Bank, which bore the brunt of heavy run in the first hours of business today after the Woodlawn institution had failed to open its doors, will be reopened Monday, it was announced. ONLY SYMPATHY RUN Judge C. E. Thomas, State Superintendent of Banks, came from Mont gomery tonight to make a study of the local situation. He said he believed the runs on the Woodlawn and Southside institutions resulted from the failure of two banks last week. The banks failing last week were the City Bank and Trust Company, and the Avondale Bank and Savings
4.July 7, 1929Messenger-InquirerOwensboro, KY
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FOUR BANKS CLOSE IN BIRMINGHAM
State Association Begins Investigation; Head of One Institution Drowns
Birmingham, Ala., July 6. (A)Affairs of two banks that closed joday, bringing to a total four banking institutions within tthe past ten days, were under investiration of the state banking offirials tonisht. Meanwhile searching parties were doublling their efforts to lo. late the body of Dr. A, W. Bell. president of the Woodlawn Savmgs bank. one of the institutions that closed today. Dr. Bell drownded this morning in the Coosa river near Vincent, Ala. Dr. Bell was reported to have gone in swimming with a party of friends shortly after he arrived at his country place for the week end. The report of the closing of the Woodlawn bank caused a run on the Southside bank which prompted officials to order its doors closed. Officials of the Southside bank said that closing was temporary and that the bank would reopen for business Monday morning Mild runs started at other banks. The runs were halted in most instances when officials announced that all depositors wishing to withdraw their funds would be paid promptly The banks closed last week were the City Bank and Trust Co. and the Avondale Bank and Savings company John R. Wallace, cashier of the Avondale Bank and Savings company, died the day before the bank closed. from a bullet through his abdomen, said by members of his family to have been accidentally inflicted.
5.July 7, 1929The Humboldt TimesEureka, CA
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Flier Slashes TRAGEDIES Rope Caught In a Second MARK BANK Plane, Saves 4 (By Associated Press) FAILURES ATLANTA Ga., July Atlanta fliers tonight owed their lives to one of their number who was quick with his knife when dangling rope from plane flight became entangled in the proIN GEORGIA peller of ship flying below it. Taking the air today to conduct an experiment in repairing the landing gear of aircraft in flight,
Cashier Dead From Bullet Wound, President Drowns
Head of Second Bank In Hosiptal Following Crash
(By Asosciated Press) BIRMINGHAM. Ala., July Affairs of two banks which closed today. bringing to total of four banking institutions which have failed to open in the Birmingham district within the past ten days, were under investigation of the state banking officials tonight. PRESIDENT OF CLOSED INSTITUTION DROWNS Meanwhile searching parties doubling their efforts to locate the body of Dr. W. Bell. president of the Woodlawn Savings Bank, one of the institutions which closed today Dr. Bell drowned this morning in the Coosa river near Vincent, Ala. He was reported to have gone in swimming with party of friends shortly after he arrived at his country place for the The report of the closing of the Woodlawn bank caused run on the Southside bank which prompted officials to order its doors closed. Officials of the Southside bank said that closing was temporary and that the bank would reopen for Monday morning MILD START ON OTHER BANKS As the report spread throughout the district, mild runs started at other banks. The runs were halted in most instances when officials announced that all depositors wishing to withdraw their funds would intendent of banks, arirved tonight be paid promptly Judge C. E. Thomas, state super(Continued on page eight)
Beelen Blevins and Bonnie Roew climbed to an altitude of 2,500 feet and maneuvered for position below second plane flown by McaKay Solenberger and W. G. Strplin Roew climbed out on the lower wing of the undreship and removwheel. while Striplin, in the ship above, began lowering away another wheel from the end of rope. Just as Roew reached out to grasp the dangling wheel. the force of the wing shipped the rope into the propeller of the lower ship. Both blades were torn off. and the rope, caught in the propeller shaft. began to wind up much in the fashion of windlass, threatening to draw the two ships into a fatal collision. Stripley instantly drew his knife, reached down and slashed the rope free The two ships careened away and Blevins put his crippled ship powerless glide. Roew into quickly recovered the original and hanging from wing strut, worked desperately to 85. He clamped the wheel place place just few feet above the in ground and lacking time to climb back into his cockpit clung to the landing gear as Blevins brought down perfect landthe plane ing cotton field Solenberger and Striplin landed safely in field short distance away
6.July 7, 1929The Richmond ItemRichmond, IN
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STATE PROBING BANK AFFAIRS
Two More Institutions In Birmingham Closed During Day
Associated Ala., fairs of two day, bringing failed within the days, under the banking searching parties their efforts locate the body W. Bell, president Woodlawn Savings bank, one institutions which closed today Bell morning near gone with friends shortly he his counfor the week end. report the of the bank caused run on the which prompted order doors closed. Offithe Southside bank said that closing temporary that the bank would reopen for business Monmorning Mild were started at other banks. in most that all wishing to withtheir funds would promptly Judge Thomas, superintendent banks, arrived tonight take He attributed the closing the Woodlawn Southside banks precipitated by the today closing of the week. The last week were the City Bank company and the Bank and Savings both York hospital where he after of the closing of the news R. Wallace, cashier of the John Avondale Bank Savings died the day before the pany, closed from bullet his abdomen, members his family he was handling dropped to the floor and discharged. Coroner Russum rendered verdict of Plans for the City Bank and Trust opening company today Roderick Beddow, member of the board of directors and attorney for that than $125,000 the $250,000 proposed for the He said the bank reopen Woodlawn banks capitalized capital $500,000 and had the Avondale bank
7.July 7, 1929Leader-TelegramEau Claire, WI
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BANKS
State Opens Probe of Failures As Two Officials
July banks which closed today, bringing total four banking which have failed open in the Birmingham district within past ten under investigation of banking officials tonight. Meanwhile searching parties were doubling their efforts locate body Bell, president the Woodlawn Savings bank, one the institutions which closed today. Dr. Bell drowned this mornthe Coosa river near VinAla., Dr. Bell was reported gone swimming with friends shortly after he rived his country for place week The report of the closing of Woodlawn bank caused on the Southside bank which prompted cials order its doors closed. Southside bank closing temporary and that bank would re-open business Monday morning Judge Thomas, state superintendent of banks, arrived night from Montgomery charge banking situation here. attributed the closing the Woodlawn Southside banks today runs precipitated the closing of the two banks last banks closed last bank and Trust the Avondale bank Savings president in New York hospital where he collapsed after receiving news of the closing the banks. John Wallace, cashier of the City bank and Trust company, died day before the bank closed from bullet through his abdosaid by members of his famhave been flicted when pistol he was ing dropped the floor and charged. Coroner Russum dered verdict of accidental
8.July 7, 1929Tampa Bay TimesSt. Petersburg, FL
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FOUR ALABAMA BANKS CLOSED
State Department Investigates Situation in Birmingham
July affairs of two banks which closed today. bringing total four banking institutions which have failed open in the Birmingham district within the past 10 days, were under investigation the state banking officials tonight. Meanwhile searching were redoubling their efforts to locate the body Dr. W. Bell, president the Woodlawn Savings bank. one the institutions which closed today. drowned this morning in the Coosa near Vincent, Ala. Dr. Bell was reported to gone in party of friends shortly after he at his country place for the week The report of the closing of the run on the Southside bank, which prompted officials its closed. Officials of the bank said that closing was temporary and that the bank would open for business Monday morning As the report spread throughout the district mild runs started other banks. The runs were halted in most when anthat all to their funds would paid promptly. banks post ed that they would remain open late tonight order those to withdraw deposits. Judge C. Thomas, superof banks, tonight from Montgomery to take charge of the banking He the the Southside banks today precipitated by the closing of the banks week. The closed last week were the City Bank company and the Bank and Savings of both institutions New York hospital where ter receiving news of the closing of John R. Wallace. cashier of the Avondale Bank Savings company. died the day before the bank closed from bullet wound through this abdomen, said by members his family ally inflicted when pistol he handling dropped to the floor and discharged Coroner Russum rendered verdict of accidental death. Plans for reorganization and opening of the City Bank Trust company completed today and Roderick member the board directors and attorney for the institution. more than the $250,000 stock proposed reorganized bank had been He said the bank reopen early next week. The Southside Woodlawn banks capitalized The City Bank had capitalization and the Avondale bank $25,000.
9.July 7, 1929Austin American-StatesmanAustin, TX
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Develops Strength
Dr. A. W. Bell Disappears While Swimming in River At Country Home
To Reopen Monday
Cashier Died of Bullet Wound Day Before House Closed
By the Associated Press BIRMINGHAM, Ala., July 6.Affairs of two banks which closed today, bringing to total four banking institutions which have failed to open in the Birmingham district within the past 10 days, were under investigation of the state banking officials tonight. Meanwhile searching parties were doubling their efforts to 10cate the body of Dr. A. W. Bell, president of the Woodlawn Saving bank, one of the institutions which closed today. Dr. Bell drowned this morning in the Coosa river near Vincent, Ala. Dr. Bell was reported to have gone in swimming with party of friends shortly after he arrived at his country place for the
Run Causes Closing The report of the closing of the Woodlawn bank caused run on the Southside bank which prompted officials to order its doors closed. Officials the Southside bank said that closing was temporary and that the bank would re-open for business Monday morning. As the report spread throughout the district, mild runs started other banks. They were halted in most instances when officials that all depositors wishing to withdraw their funds would be paid promptly. Judge C. E. Thomas, state superof banks, tonight from to take charge the banking here. tributed the closing of the Woodlawn and Southside banks today runs precipitated by the closing of the two banks last week. Another in Hospital
The banks closed last week were the City Bank and Trust company and the Avondale Bank and Sav. ings company. Lassiter, pres. ident of is New York hospital where he collapsed after receiving news of the closing of the banks. John R. Wallace, cashier of the City Bank and Trust company died the day before the bank closed from bullet through his abdomen, said by members his family to have inflicted when pistol he handling dropped to the floor and discharged. Coroner S. Russum rendered verdict of accidental death. Plans for reorganization and reopening of the City Bank and Trust company were completed today and Roderick Beddow, member of the board of directors and attorney for the that than $125,000 of the $250,000 stock proposed for the reorganized bank had been He sald the bank propably would reopen early week. Southside and Woodlawn banks were capitalized $50,000. The capital of $50,000 and the vondale bank $25,000.
10.July 7, 1929The Atlanta ConstitutionAtlanta, GA
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MAJOR CHRISTOPHER TO LEAD GEORGIA AIR TOUR; FLIGHT OVER STATE TO START TUESDAY, JULY 23 FAMOUS AVIATOR President Drowns Bank Fails Birmingham as 'GLAD TO ACCEPT'
FOURTH FINANCIAL INSTITUTION GOES UNDER IN 10 DAYS
Drowning Recalls Alleged Accidental Death of Cashier of First Bank To Close.
ATTORNEY GENERAL DEMANDS PROBE
Mild Runs Are Staged Against All Magic City Banks as Result of Panic of
Birmingham, Ala., July The affairs two banks which closed today, bringing total four banking institutions which have failed open in the Birmingham district within the past ten days, were under investigation of the state banking offitonight. Meanwhile searching parties were redoubling their efforts to locate the body of Dr. W. Bell. president of the Woodlawn Savings bank. one of the institutions which closed today. drowned this morning the Coosa river near Vincent, Ala. Dr. Bell reported to have in gone swimming with party of friends shortly after he arrived his country place for the Run on Other Bank.
The report of the closing of the caused run on the Southside which prompted offi to order its doors closed. Of of the bank said that closing temporary and that the bank would open for business Monday the report spread throughout the district mild started at other The runs were halted in most when officials announced all depositors wishing to withtheir funds would be paid banks posted they would remain late tonight necessary those seeking C. E. superof banks, arrived tonight Montgomery to take charge of situation here. He the closing of the banks today to runs precipitated by the closing of the two Other Banks Closed.
The banks last week the City Bank Trust Company and the Bank Savings Compresident receivclosing Bank before bank wound through his family inflicted dropped verdict of cidental completed today directors and the had He bank early next and Woodlawn banks bank $25,000.
JURY PROBE TO BE DEMANDED.
George Company July He stated that would released banks and South closed doors that he He Birming reopen
11.July 7, 1929Sunday NewsLancaster, PA
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Probe Closing Of Four Banks
One President Second Accidentally Kills Himself
Birmingham, Ala., July Affairs two banks which closed day, bringing total four the banking which failed open in the Birmingham district wthin past ten under vestigation the state banking tonight. searching parties were doubling efforts the body Bell, president of the Woodlawn Savings of the institutions which closed today. who drowned this morning the Coosa River Vincent. Dr. Bell was reported have gone swimming with friends shortly arrived his country place for The report of the closing of the Woodlawn on the Southside Bank prompted ficials order its closed. cials the Southside Bank said that closing temporary that bank would be open for business Monday morning. report spread throughout the district, mild runs started at other banks. Judge Thomas, state superintendent of from Montgomery banking here. He attributed the closing the Woodlawn and Southside banks today precipitated by the closing of the two banks last week The banks closed last week were the City Bank Trust Company the Bank and Savings Company. president both New York hospital where he after news the banks. John of cashier the Avondale Bank and Savings died the day before the bank closed from bullet through his by members his family to have been accidentally inflicted when tol handling dropped rendered verdict of accidental death.
12.July 7, 1929The Selma Times-JournalSelma, AL
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SECOND FAILURE
President Bell Dies In Coosa Near Vincent
BANK CASHIER SHOT DAY BEFORE IT CLOSES
Superintendent of Banks Thomas On Scene
July affairs banks which closed today, bringing total four which have failin the diswithin the ten days, the State officials tonight. searching parties efforts locate the body W. Bell, the Savings Bank one of the inclosed today, the Ala. Dr. Bell reported with party of shortly after at his country place for the week-end.
The report of the closing of the Woodlawn bank caused on the Southside bank which prompted officials order its doors closed. Officials of the Southside bank said that closing was temporary and that the bank would open far business Monday morning
Mild Runs As the report spread through the district runs started other banks. The runs were halted in most when officials announced tha tall depositors wishing withdraw their funds would be paid promptly. banks postthat they would open late tonight necesthose seeking to withdraw deposits. Judge Thomas, state supertonight from charge the banking situation closing the Woodlawn and today to precipitated by the closing of banks The banks closed week were the City Bank and Trust Company and the Bank Savings Lassiter, president both institutions, hospital where collapsed after receiving news of the closing of the
Cashier Dies John R. Wallace, cashier of the Savings pany, died the day before closed from wound his by members of his family to accidentally flicted pistol handling dropped the and discharged. Coroner rendered verdict of accidental Plans for and opening the City Bank and Company today and Roderick Beddow, member the board directors and attorney for the institution, that of the stock reorganized bank had been subscribed. He said the bank reopen early Southside and Woodlawn The capitalized $50,000. The City had and the Avondale bank $25,000.
13.July 7, 1929St. Louis Globe-DemocratSt. Louis, MO
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INVESTIGATION
Failures Yesterday Bring Total in Ten Days to Four, Other by to Pay.
Associated Press. July banks which closed bringing to total four institutions which failed in the Birmingham district last under investigation of the officials tonight. Meanwhile searching parties were doubling their efforts to locate the Dr. Bell, president Woodlawn Bank, of institutions which closed today. Bel this morning Coosa River near Vincent, Bell was reported to gone party of friends after his
Run Closes Bank. report of the closing of the Bank caused South Side bank, which promptofficials order its doors closed. Officials the Southside Bank closing temporary and bank would reopen for business Monday morning. the report spread throughout district, runs started other banks. The runs were halted most when officials nounced that all depositors wishing withdraw their funds would promptly. Judge Thomas, State Supertonight from to take the banking situation here. He tributed closing of WoodSouthside banks today precipitated by the closing of banks week.
Banks Closed Last The banks closed last week were City Bank and Trust Company Avondale Bank and Company. Lassiter, president of both institutions, York hospital where lapsed after receiving of the closing banks. John cashier the Bank and Comdied the day before the bank closed from bullet through abdomen, said by members his family accidentally flicted when pistol he dropped to the floor and dis-
14.July 7, 1929The Idaho StatesmanBoise, ID
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BODY OF BANKER SOUGHT IN RIVER
State Officials Take Charge After Two Birmingham Banks Close Doors.
BIRMINGHAM. Ala. (P)-Affairs of two banks which Saturday, bringing to total of four banking institutions which have failed to open in the Birmingham district within the past 10 days, under investigation of state banking officials. Meanwhile searching parties were doubling their efforts to locate the body of Dr. A. W. Bell, president of the Woodlawn Savings bank, one of the institutions which closed. Bell drowned Saturday morning in the Coosa near Vincent, Ala., where he was reported to have gone in swimming. The report of the closing of the Woodlawn bank caused run on the Southside bank which prompted of. ficials to order its doors closed. They said that the bank would reopen for business Monday morning. The banks closed last week were the City Bank and Trust company and the Avondale Bank and Savings company. B. Lassiter, president of both institutions, is in New York hospital where he collapsed after receiving news of the closing of the banks. John R. Wallace, cashier of the Avondale Bank and Savings company, died the day before the bank closed from a bullet through his abdomen, said by members of his family to have been accidentally inflicted when a pistol he was handling dropped to the floor and discharged.
15.July 7, 1929The Evansville JournalEvansville, IN
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STATE OFFICIALS PROBE CLOSING OF ALABAMA BANKS
President of One Institution Drowns and Cashier of Another Dies From Wound
BIRMINGHAM. Ala., July 6.-(AP) -Affairs of two banks which closed today, bringing to total four banking institutions which have failed to open in the Birmingham district within the past 10 days, were under investigation of the state banking officials tonight. Meanwhile searching parties were doubling their efforts to locate the body of Dr. A. W. Bell, president of the Woodlawn Savings, one of the institutions which closed today. Dr Bell drowned this morning in the Coosa river near Vincent, Ala., Dr. Bell was reported to have gone in with party of friends shortly after he arrived at his country place for the week-end. The report of the closing of the Woodlawn bank caused run on the Southside bank which prompted officials to order its doors closed Officials of the Southside bank said that closing was temporary and that the bank would reopen for business Monday Mild runs started at other banks The runs halted in most instances when officials that all depositors wishing to withdraw their funds would be paid promptly. Judge E. superintendent of banks, arrived tonight from Montgomery to take charge. He attributed the closing of the Woodlawn and Southside banks today to runs precipitated by the closing of the two banks last week. The banks closed last week were the City Bank Trust company and the Avondale Bank and Savings company Lassiter, president of both institutions is in New York hospital where he collapsed after receiving news of the closing of the banks. John R. Wallace, cashier of the Avondale Bank and company, died the day before the bank closed from bullet his abdomen, said by members of his family to have inflicted when a pistol he was handling dropped to the floor and discharged Coroner S. Russum rendered a verdict of accidental Plans for reorganization and reopening of the City Bank and Trust company were completed today.
16.July 7, 1929Richmond Times-DispatchRichmond, VA
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Bank Head Drowns As Doors Close
Tragedy Attends Runs On Two Birmingham Institutions Banking 4th Recent Failure
Mild Runs Which Spread City Were Throughout Checked By Officials
July affairs of two banks which closed The to total four bringing which failed ing in the district open ten under the State banking offivestigation tonight. Meanwhile searching parties were redoubling their efforts locate body president the Woodlawn Savings institutions which closed drowned morning Coosa near Vincent Ala Dr Bell reported swimming friends shortly arrived his try place the Woodlawn Southside closed Offithe Southside said that was temporary the bank would open for business Monday morning report spread throughout the district mild runs started other banks runs were halted instances when officials announced depositors wishing withfunds would paid promptly Several posted nouncements open as tonight those seeking deposits Judge State superintendent tonight from Montgomery charge the banking situation here tributed closing Woodlawn and Southside banks today runs precipitated closing of two banks last The closed last week the City Bank and the Avondale Bank and Savings
Please Turn to Page Four
17.July 7, 1929The Virginian-PilotNorfolk, VA
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FOUR BIRMINGHAM BANKS CLOSED
Run On Other Institutions Started; State Officials Conducting Inquiry
July The of two banks which closed to four banking which have failed to in the Birmingham district within the ten of the State banking officials searching parties were retheir efforts locate president of Woodlawn Savings one of closed who drowned this morning in the River Dr. Bell was reported gone in swimming friends shortly after he arrived at his place for the the closing of the Bank caused run Southside order closed. Officials of the said that closing temporary that the bank would open for business Monday As the report spread throughout the district runs started at other runs were halted in most instances officials that to withdraw be paid banks posted anthat they would remain open as tonight as necessary in to accommodate those to seeking withdraw deposits. Judge Thomas, State tendent of banks, arrived tonight superin- from Montgomery to take charge of the banking situation here. He attributed the closing of the Woodlawn and Southside Banks today to runs precipitated by the closing of the two banks last week.
18.July 7, 1929The Portsmouth StarPortsmouth, VA
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INVESTIGATE CLOSING OF FOUR
BRIMINGHAM Ala. July 6.-(AP) two banks which affairs closed today making total of four banking institutions which have failed open the Birmingham district within the past ten days, investigation of the state were banking officials tonight. parties were their efforts locate the redoubling body W. president the Woodlawn Savings Bank. one the institutions closed today, drowned this morning in the who River near Vincent, Ala. Dr. Bell was reported to have gone swimming with party friends shortly he arrived his counplace for the The report of the closing of the Woodlawn run the Southside which prompted officials to order its doors closed. Officials the Southside Bank said that closing was temporary and that would business Monday morning.
19.July 7, 1929Herald and ReviewDecatur, IL
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ALABAMA BANKS CLOSED; CAUSES STATE SCRUTINY
Four Institutions in Birmingham Area Fail to Open Past Week
TRY TO PREVENT "RUNS"
BIRMINGHAM, Ala., July of two banks which closed Saturday, bringing to total four banking institutions which have failed to open in the Birmingham district within the past ten days, were under investigation of the state banking officials Saturday night. Meanwhile searching parties were doubling their efforts to locate the body of Dr. W. Bell, president of the Woodlawn Bank, of the institutions which closed Saturday. Dr. Bell was drowned Saturday morning the Coosa river near Vincent, Ala.
Had Been Swimming
He was reported to have gone in swimming with party of friends after he arrived at his country place for the weekend. The report of the closing of the Woodlawn bank caused on the Southside bank which prompted cials to order its doors closed. Officials of the Southside bank said that closing was temporary and that the bank would for business re-open Monday morning. "Runs" Halted
As the report spread throughout the district, mild runs started other banks. The runs were halfed most instances when officials announced that all depositors wishing to withdraw their funds would paid promptly. Judge Thomas, state supt., banks, arrived Saturday from Montgomery to take charge of the banksituation here. He attribuited the closing the Woodlawn and Southside banks runs precipated by the closing of the two banks last week.
20.July 7, 1929Atlantic City Sunday Press the Sunday GazetteAtlantic City, NJ
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Four Institutions Closed in Birmingham District in Ten Days
Ala., Affairs two banks which closed bringing total four banking institutions which have failed in the Birmingham district within past days, under investigathe state banking officials tonight. Meanwhile searching parties their locate president the Woodlawn the institutions which closed today, this Coosa near Vincent. Dr. Bell reported have gone ming with friends arrived his country place the week-end. report the closing of Woodlawn bank caused the Southside which prompted ficials order doors closed. Officials the Southside bank said closing temporary that bank would open for business day morning. spread throughout the mild runs started banks. The halted most when officials announced that all depositors wishing draw funds would paid Several banks that remain open tonight order those withdraw Judge intendent banks, from Montgomery take situation here. He tributed the closing the Woodlawn and banks today runs precipitated by the closing the two banks week. The banks closed last week were the City Bank and Trust and Avondale Bank pany. Lassiter, president institutions hospital. where after the closing.
21.July 7, 1929The Morning PressSanta Barbara, CA
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2 More Banks Close Doors in Birmingham
Tragedy Trails in Path of Four Institutions in Alabama District
BIRMINGHAM, Ala. July 6-(/P) Affairs of two banks which closed to total of four today, bringing institutions which have banking failed open in the Birmingham within the past 10 days, district were under investigation of the state banking officials tonight Meanwhile searching parties were doubling their efforts to cate the body of Dr. president of the Woodlawn Savbank one of the institutions ings which closed today. Dr. Bell drowned this morning the Coosa river near Vincent Ala He was reported to have gone in swimming with party friends shortly after he arrived his country place for the weekend.
Run Is Started The report of the closing of the Woodlawn bank caused run the Southside bank which prompt. ed officials to order doors closed. Officials of the Southside bank said that closing was temporary and that the bank would reopen for business Monday morning. As the report spread throughout the district, mild runs started other banks. The runs were ed in most instances when officials that all depositors wishing to withdraw their funds would be paid promptly Judge C. Thomas, state perintendent banks, arrived tonight from Montgomery to take charge of the banking situation here. He attributed the closing of the Woodlawn and Southside banks today to runs precipitated by the closing of the two banks last week. The banks closed last week were the City Bank Trust company and the Avondale Bank and Savings Lassiter. president of both institutions in New York hospital where he collapsed after receiving news of the closing of the banks Dies From Bullet Wound John R. Wallace, cashier of the Avondale Bank and Savings company, died the day before the bank closed from bullet through his said by members of his family to have accidentally inflicted when pistol he was (Turn to Page Col.
22.July 8, 1929The Birmingham NewsBirmingham, AL
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INFINE CONDITION, THOMAS ASSERTS
Institutions Are In Substantial
Shape, June Call Shows, Says Examiner
THOSE IN SUBURBS DOING USUAL RUN OF BUSINESS
Conditions Again Normal, Say
Reports From Different Sections Of City
MONTGOMERY. Ala., July 8-Reof the state bank call made 29 are very encouraging and banks of the state are in substantial shape, Judge C. E. Thomsuperintendent of banks, his return here Monday from Birmingham. reports indicate that all Birmingham and Alabama substantial shape and we exmore of the restlessness that prevailed in Birmingham banklast week," Judge Thomas closing of the Bank of Leeds the result its failure to realize enough ready cash from its assets the rush of Saturday solvent, and will depositor dollar for dolOther banks in that section are provided for any emergency, but be no recurrences the rushes of in the and Southside Banks, and reports are encouraging The resident of the Southside Bank reopen that bank and we with him as far as the of the state will per this reports of the City and Avon. banks have been delayed beexaminers were called back but we hope to have sometime this week. glad to hear that all Birmingham banks reported normal Monday morning. and feel the people will be patient for that two or possibly three banks will reopen. Thomas indicated that an of funds had poured into City since runs started Woodlawn Bank Savings and the Southside Bank Saturday morning. He expressed himself highly satisfied with work of the examiners as. signed take over the affairs of the There more money available Birmingham now than there has years," Judge Thomas enough to care for any and demands. The banks weathered little caused by deposSaturday well and do not anfurther restlessness
Banks In Suburbs Report "All's Well"
BY ANDREW W. SMITH Birmingham's suburban were operating Monday under apparently conditions. There appeared to be no recurrence the slight flurry among depositors. which Saturday followed closing of two institutions. The Southside the Woodlawn Banks, which closed Saturunder supervision of Judge E. Thomas. state superintendent president of the Southside Bank. said bank would reopen as soon as public got over its state ex. while Margaret Gribbon, of the Woodlawn bank, prethe depositors of that bank be repaid dollar for dollar. Monday of suburban banks in Greater Birmingham found open for business and reno abnormality. A number of banks reported that money withSaturday placed back in Page First Column
23.July 15, 1929The Huntsville TimesHuntsville, AL
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SOUTHSIDE BANK REOPENS
Closed July 6, it was Found Solvent And Meriting Confidence
BIRMINGHAM, July 15-(AP)The Southside bank, which closed its doors July 6 during a heavy run on its resources by depositors reopened for business today. State bank examiners who audit of the bank's last it and meriting the confidence of the public." The without dent. Maynor, president of the institution, said the first business was as if the colsing had merely been over the weekend.
J. B. Lassiter, president of the Bank Savings Company and the City Bank Trust Company, two of the five institutions to early this month, issued his first on the today in which he asserted the belief depositors will "be paid in Lassiter returned from New York Thursday where made an effort to for his banks and their He collapsed when informed the banks had closed and since has been under the care of physicians. "I did not try to run away," Lassiter said of his trip. went to New York in an effort to raise money to save the but the crash came too My first to open the banks and end will bend my every energy."
24.July 18, 1929The Sand Mountain BannerAlbertville, AL
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ONE OF CLOSED BANKS REOPEN IN BIRMINGHAM
Southside Bank Resumes Business Without Incident Monday
Birmingham, Ala., July Southside Bank, which closed its doors during heavy run on its by depositors, opened for business Monday. State bank who completed an audit of the bank's accounts last week, declared "solvent iting the confidence of the public." The reopening was without cident. Manor, president of the institution, said the hours of business were normal as the closing had merely been over the week end. Lassiter, president of the Avondale Bank Savings Company and the City Bank Trust Company, two the five financial institutions to close here early this month, issued his statement on the closings today which he asserted the belief depositors will paid in Lassiter turned from New York Thursday he made an effort to raise money for his banks and prevent their closing. He collapsed when informed the banks and since has been under the care of physicians. not try to run Lassiter said of his trip. went New York in an effort to raise to save the banks, but the money crash came too soon. My first purto the banks and to pose reopen this end will bend my every energy." Meanwhile plans were going forward to the Woodlawn reopen Savings Bank and Leeds State Bank, the other of five banks to close, with national charters.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
