Woodlawn Savings Bank (Birmingham, AL)

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FAILURE OF RESULTS SECOND

Southside Institution Will open Monday

STEADY WITHDRAWAL OF ACCOUNTS CAUSE

Thomas Says No Reason For Alarm In iStuation

BIRMINGHAM, Ala., July run on the bank the closing this of the SavIngs Bank, caused closing of that today, officials said the band would open business Monday morning. The Woodlawn Savings Bank closed its doors this morning order Dr. Bell, president, following withdrawal of several The Woodlawn Bank was the third to close doors in the Birmingham district within the past two weeks. Withdrawal of large accounts had going on for the last week, Robertson, teller the bank, today, and It was deemed wise to close to the protect depositors. bank organized in Nowith capital stock of $35,000. The two banks which failed last the City Bank Trust Company the Avondale Trust Savings Bank. Banks Reorganized July Reorganization of the City Bank and

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Bank President Drowns As Institution Doors

Ala., July (AP) BIRMINGHAM. -Affairs of banks which closed today, bringing 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. Meanwhile 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 today. Dr. Bell drowned this morning Coosa river near Vincent, He was reported to have gone swimming with party of friends shortly after arrived at his country place for the The report of the closing of the Woodlawn bank caused run the bank which prompted officials order its doors closed. Officials of the Southside that closing temporary and that the bank would reopen Judge superof banks, tonight from to take charge the banking here. He attributed the closing of the Woodlawn and Southside banks today to precipitated by the closing the two banks last The banks closed last week the City Bank and Trust company and the bank and savings company president both institutions is New York hospital where collapsed receiving news of the closing John cashier the Avondale bank and savings died the day before the bank closed from bullet through abdomen, by members his family have been inflicted when pistol he handling dropped Coroner Russum verdict of accidental death.

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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

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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

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GRAND JURY SIFT ASKED FOR BIRMINGHAM BANKS

MONTGOMERY, Ala., July 6 (AP).—Atty.-Gen. Charlie C. McCall, of Alabama, stated tonight that he would request Solicitor George L. Bailes to move at once toward organization of a special Jefferson county grand jury to investigate the recent closing of the Avondale Bank and Savings company and the City Bank and Trust company in Birmingham.

The attorney-general requested that, if possible, the grand jury be convened by July 15. He stated that he and two of the state's assistant attorneys-general, Judge J. Q. Smith and Judge A. A. Evans, would participate in the investigation.

The attorney-general released his statement shortly after Judge C. E. Thomas, state superintendent of banks, departed for Birmingham to direct personally the audit of the books on these two banks and the Woodlawn Savings bank and the South Side bank, which closed today following heavy runs.

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Birmingham Banking Circles Stirred By 2 More Failures

Reported Drowning of President of One Closed Bank Increases Excitement

BIRMINGHAM, Ala., July 6.-Excitement prevailed in bankcircles here tonight, following the failure of two banking institutions to open their doors today and the reported drowning of Dr. A. W. Bell, president of one of the institutions, in the Coose river near Vincent, Ala.

The closing of the two banks, the Woodlawn Savings bank and the South Side bank, brought to total four banking houses to fail to open during the past two weeks. Dr. Bell, president of the Woodlawn, reported drowned while bathing in the river with party of friends his country home Vincent. Search for his body is being made. Runs banks of the city, the the Woodlawn and South Side institutions, officers to houses tonight allow depositors withdraw their money if The South Side bank, which bore the brunt run in the first minutes of business this after the Woodlawn institution had failed to open its doors, reopened Monday, it was announced Judge E Thomas, state superintendent of banks, came from Montgomery tonight make study of situation. He said he the runs and South Side institutions from the the banks last week. The banks failing week were the City Bank Trust the Avondale Bank and Savings company.

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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.

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Move to Halt Bank Panic in Alabama

Birmingham, for the body of president the closed Woodlawn savings bank, who was reported been drowned Saturday state bank officials and city leaders moved today guard against ther closure of subburban to restore shaken Citizens were called upon leaders, the president and paper editorials about the banks and stop of hysteria that has threatened the since the closing four subburban banks."

Martin Martin gravel streets.

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INQUEST FINDINGS TO BE DELAYED

BIRMINGHAM July announced today that in the inquest inthe death Saturday Dr. Bell, preisdent of the defunct Woodlawn Savings bank and a member of the Jefferson county board revenue would not be available for publication until week. The report together with chemcal analysis of the contents of Dr. Bell's stomach will be submitted to Solicitor Paul O. Luck of Shelby county. The viscera forwarded the state chemist at Auburn Dr. Bell drowned in the Coosa rivnear Vincent, county, short while after his bank had closed its doors. Four witnesses were questioned by Coroner Russum and Coroner ker of Shelby yesterday. Dr. S. Wallace Birmingham general hospital testified he was director of the Woodlawn bank and that he had discussed reopening of the bank Dr. Bell shortly before the ter left for his Vincent. said Dr. Bell had declared against of the institution to protect its small depositors. Walter Chancellor, Coosa river ferryman, testified found the fish trap. He in the arms and indicated the victim had been seized with cramps. other witnesses were Tom W. Glenn, caretakers of Dr. Bell's plantation, who were of swimtime his death. They said Dr. Bell cried out that he had been cramps before disappearing. Their efforts were futile to reach him. Funeral services for Dr. Bell were conducted yesterday afternoon with churchmen of the board of revenue acting as

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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.

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JURY WORKS ON BANK FAILURES

Alabama Jurors Report On Grave Irregularities

BIRMINGHAM, Ala., July 26.-(AP) Charges made today in a partial report of the Jefferson county grand jury of "grave irregularities" in the handling of funds of the defunct Woodlawn Savings bank were followed closely by reports here and in Montgomery that the attorney general's office is conducting an investigation to determine if Dr. A. W. Bell late president of the bank actually died by accidental drowning, as his relatives and friends claim. There was no confirmation of reports published in Montgomery that Attorney General Charlie C. McCall has ordered an independent investigation. The Alabama Journal said detectives working under McCall were investigating the case from three angles-that Dr. Bell did accidentally drown, that he committed suicide, was slain and his "ody thrown into the Coosa river. The

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"Irregularities" In Banking Found

BIRMINGHAM, Ala., July 26 (AP) — The Jefferson county jury returned a partial report on its activities in investigating banking practices in Birmingham today which charges that "grave irregularities" were found in the method of handling funds of the defunct Woodlawn Savings Bank.

The report declared Dr. A. W. Bell, late president of the bank, had been found to be indebted to the extent of "many thousands of dollars" to the bank. Dr. Bell drowned while swimming with friends in the Coosa river, near here, July 6, an hour before the bank permanently closed its doors as a result of a heavy run on its resources by depositors. His death was declared accidental by the coroner.

"In our desire to protect the depositors of the Woodlawn Bank," the report said, we recommend that immediate action be taken by the liquidating agent to prevent disposition of any funds of Dr. Bell's estate.

The report did not mention the result of its investigation concerning three other banks of world.

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Shriners Petition For Bank Receiver

BIRMINGHAM. Ala., Aug. 10.(P)-Charging that Judge C. E. Thomas, state superintendent of banks, has shown himself not to be the proper person to act as liguidating agent of the Woodlawn Savings Bank. the Prophets Benefit association of Kamram Grotto, today filed a petition in chancery court asking receiver for the bank. The petition also charges that Thomas has failed to faithfully perform his duties in reference to supervision of the bank and that he is liable for the amount of his bond, $25,000. and also to the extent of loss sustained by the depositors. The association sets forth in its petition that it had on deposit in the bank total of around $80.000 when the Institution closed its doors Hearing has been set for August 21 before Judge William Walker.

WINS GOLF CROWN Lyon. of Pontiac. Ill., 19-year-old sophomore at the University of Illinois, Is western junior golf champion. title acquired after six years of effort. Lyon yesterday conquered Bill Redmond. of Joliet, Ill., also 19 years old and junior at Notre Dame, in the 36-hole final at LaGrange Country club, by a 5 and 4 margin.

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Contempt Charges Face Bank And Liquidatng Agent

BIRMINGHAM, Ala., Aug. C. Thomas, state superintendent of banks, now on leave of absence, and Horace Wilkinson, who has been acting as liquidating agent for the closed Woodlawn Savings Bank will face citation for contempt of court Monday following granting of petition today by Judge M. Walker. in chancery court this effect. The petition was filed by Goodwin and Company. and named the American Traders National Bank, receivers for the estate of Dr. W. Bell, who was president of the Woodlawn bank. party to the bill. Thomas and Wilkinson were charged in the petition with having "failed and refused to deliver certain insurance policies to the receiver as required by court order."

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CONTEMPT OF COURT CHARGE

Thomas And Wilkinson Have Refused To Allow Bank Bell Policies

BIRMINGHAM, Aug. 21 (AP)Judge E. state superintendent of banks now on leave absence, and Horace Wilkinson, who has been acting as liquidating agent for the closed Woodlawn Savings Bank, will face citation for contempt court Monday granting today by Judge William Walker in chancery court to this effect. The petition was filed by C. A. Goodwin and Company named the American Bank for the estate of Dr. A. W. Bell, was president of the Woodlawn bank, party to the bill. Thomas Wilkinson were charged in the petition with having "failed and deliver tain policies the er required by order. The bank in decree handed down by the court August The petition alleges that insurance policies included in the decree and now in Wilkinson had not delivered to the bank ordered. also that Oliver D. Street, counsel for the bank, has been denied the policies. Thomas and Wilkinson are required to appear show why they should be adjudged guilty court contempt for their failure to comply with the court order At the time the hearing Thomas counsel. opposed naming the bank receiver, contending he should be the receiver.

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WILKINSON CLAIMS HE HAS RETAINING ORDER

BIRMINGHAM, Aug. 24 (AP)Horace Wilkinson, liquidating agent for the defunct Woodlawn Savings Bank, announced here tonight had obtained an from Judge Walker from hearcharges against him Monday for his produce certain on the life of Bell. late presibank Members of supreme court could be reached ery tonight confirmation Wilkinson Judge C. E. Thomstate banks leave of absence, was dered to appear chancery court here Monday Wilkinson clined to the insurance American Traders Naappointed receiver for the estate of petition filed by persons said of Dr. Bell to give the policies the bank was granted by Judge refusing give the policies to the bank attorney for the estate Bell and dethe ey and its Mrs. Bell, widthe late bank direct-

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JUDGE DENIES PLEA FOR BANK RECEIVER Petition Of Prophets Group In Woodlawn Case Refused

Judge William M. Walker. of Chancery Court. Wednesday denied a petition filed by Prophets Benefit Association of Kamram Grotto, asking that receiver he appointed for the Woodlawn Savings Bank. The petition. contending that Judge C. E. Thomas, state superintendent of banks, incompetent to carry out the liquidation of the closed was filed two weeks ago. It set forth that the Kamram Grotto had about $80,000 on deposit at the time the bank closed.

BUS DRIVERS TO MEET

Operators Of Etowah School Vehicles To Get Safety Instructions at school bus drivers in Etowah County have been called to meet at the county high school in Attalla Saturday for special instructions as to future. how they must operate buses in the Dr. T. Y. Greet president of the Etowah County Council. will be the chief speaker. County Superintendent of Education W. Luckie said drivers will be instructed about grade crossings and other matters with the hope of eliminating accidents. railroad clerk, a raflroad mechanic, carpenter, grocer's clerk, steel worker and a news dealer Two of the men are members of unions, one of the Brotherhood of Carpenters, an American Federation of Labor Union, and the other the Brotherhood of Railway Carmen.

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SUIT FILED FOR BELL'S INSURANCE

Receiver Of Estate Of Woodlawn Bank President Seeks To Recover $150,000

BIRMINGHAM ALA., April 22 Suit for $150,000 insurance policies on the life of the late Dr. A. W. Bell, former president of the defunct Woodlawn Savings Bank, was filed in Circuit Court here today by the American-Traders National Bank against the American Security Life Insurance Company. Dr. Bell was drowned in the Coosa River near Vincent, Ala., on the day the closed several months ago. Filing of the suit followed court litigation of several months during which Judge C. B. Smith appointed the Ametican- National Bank as receiver for the Bell estate, with to take over the insurance policies and convert them into cash. The suit sets out that proofs of Dr. Bell's death have been given the insurance company, and alleges that the company has failed to pay the amount of the policies, although other companies with which the banker held insurance have paid.

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COLLECTION BAD, WITNESS CLAIMS

Testimony Given At Trial Of Woman Cashier Of Defunct Bank

Testimony that only $46,241.82 the worth of notes discounts of the defunct Woodlawn Savings Bank had been collected to date by state late Tuesday in the trial of Margaret Gribbon, former cashier and president of bank. who ing tried charges accepting deposit knowing the bank insolvent or falling condiThe testimony was part of the effort show that the bank long before the deposit accepted by Miss brought by James Dixon, cashier acting liquidating agent for the closed institution. Bank closed on July later president, W. in Coosa River near his farm Attorneys Have Notes Dixon that of the remaining notes the bank in attorneys for and other to depositors the defunct Continued the part the Pritchard, overruled by Judge H. is trying the who first liquidating agent called by state Wednesday morning An instanter subpoena for on him late the The highlight of the testimony came while Howell, bank examiner, was on the stand Howell declared that during his examination of the Woodlawn Bank 1928, told Miss Gribbon that the institution was "busted higher Gribbon to sit down and told her substance, that 'this or here. It's mighty bad.'

"Can't Sleep Very Well" Howell Miss Gribbon replied sleep well" and added worried great deal over the bank's condition. Pritchard's motion to exclude all of overruled by Continued Page Third Column

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$20,000 BELL POLICY SETTLED

Settlements Of $170,000 Have Been Made

Settlement of an additional life insurance policy the life of Dr. president of the Woodlawn Savings bank, was Monday by Pritchard, attorney for the receiver of the Bell estate. Pritchard stated the Pacific Mutual Life Insurance nad agreed to pay the face value of its policy for and that other companies which had issued policies the life of Dr. Bell had indicated they would settle. The settlement agreed by Pritchard and Pacific Mutual brings the total settlements surance more than settlement of $135,000 was several weeks ago with the American Life Insurance policies totaling other small policies ranging between $5,000 and $500 have been settled. This money has been turned over to the First National bank, receiver for the bank will hold the money until Judge William Walker directs its disposition.

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Additional $20,000 On Life of Bell Paid by Company

BIRMINGHAM. Ala., Nov. (AP)-William 8. Pritchard, attorney for the First National receiver for the estate of the Dr. A. W. Bell, former president the defunct Woodlawn Savings Bank, has announced settlement of an additional $20,000 in insurance on the life of the late banker. The sum brought the total amount collected on insurance more than $170,000, Pritchard said, with $142,000 still to be collected, He announced a dividend of 25 to 30 per cent would be paid depositors soen.

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DIVIDEND NOT READY

Payments To Depositors In Defunct Woodlawn No will be for depositors in the defunct Savings Bank before Jan. announces cashier Wahouma Savings Bank. which liquidating agent for the closed bank. Dickson said did know when dividend would be stating that he proceeding as speedily as possible Iquidation of its Much of insurance on the life Dr. W. Bell, president defunct was reported drowned. been paid through court settlement. William Pritchard. attorney First receiver for estate Bell, nounced several weeks ago that dividend probably would declared for depositors in the bank soon aftthe life suits were tled and paid.