gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f149f2bfee1242d5
Response Measures
None
Description
Anonymous letters signed 'Hiram' triggered withdrawals; state comptroller took charge and a depositor-reorganization plan led to reopening.
Events (3)
1.February 6, 1928Run
Cause
Rumor Or Misinformation
Cause Details
Circulation of anonymous letters (signed 'Hiram') advising depositors to withdraw funds and predicting the bank's failure.
Random Run
Yes
Random Run Snippet
Anonymous letter: Quietly get your money out of the Southern Bank & Trust Co. It is going soon.
Measures
Large cash shipments to local banks to meet withdrawals; the bank requested state comptroller assume charge; other banks requisitioned currency to meet demands.
Newspaper Excerpt
Quietly get your money out of the Southern Bank & Trust Co. It is going soon. Signed, Hiram.
Source
newspapers
2.February 6, 1928Suspension
Cause
Government Action
Cause Details
State Comptroller Ernest Amos assumed control at the request of bank officials after heavy withdrawals and ordered the bank not to open pending strengthening of finances.
Newspaper Excerpt
Taking charge of affairs of Southern Bank and Trust Company at the request of its officials pending strengthening of its finances.
Source
newspapers
3.March 15, 1928Reopening
Newspaper Excerpt
The Southern Bank and Trust Company had suspended but would re-open March 15; later reopening under a depositors' agreement was approved March 1928 statements indicate resumption under reorganization plans and depositor agreement signatures reported by March 20 and an April reopening plan announced in April articles.
Source
newspapers
Newspaper Articles (20)
1.February 6, 1928The TimesTrenton, NJ
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PATRONS OPEN RUN ON BANK
Three Institutions Keep Closed, Agitating Financial Circles
PUBLIC ASKED TO KEEP COOL
Fla., Feb. Seven million dollars in cash will be sent to the First National Bank by the Federal Reserve Bank branch in Jacksonville by airplane and train to pay all depositors who wish to withdraw their officials of the local tion this afternoon lowing an orderly run on the growing out of the closing of other local financial thi morning. Taking charge of affairs of Southern Bank and Trust Company the request of its pending strengthening of its finances, Ernest State ordered Bank and the Bank of pattah not open in the that they might be At the comptroller the public for and that public this ought to found run progress First the orderly the While police sought the sender the attributed sibility gradual but drawals during the copies of made public. One get your money out of Southern Company. It (Signed) the district and outskirts the latter is suburban The Southern Bank and Trust Comcapitalized on pany Saturday night had the in the Allapattah and deposits estimated Amos emphatically asserted that Mr. under normal all closed usual and their There had although there been withfrom the Southern Bank Trust Company over period circulation of the
Meanwhile. of the Southern Bank that would be reopened March 15. said that deposits in accounts and trust funds were fully tected.
2.February 6, 1928The Free PressCarbondale, IL
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RUSH 6 MILLION BY AIR TO SAVE THREE BIG BANKS
Miami Institutions Victims Of Anonymous Letters
RUNNING CROWD IS ORDERLY
Comptroller Asks All To Be Calm And They Will Be Paid
(By Associated Press) MIAMI, Fla., Feb. G-Seven million dollars in cash will be sent to the First National bank by the Federal Reserve bank branch in Jacksonville by airplane and train to pay all depositors who wish to withdraw their funds, officials of the local institution announced this afternoon, following an orderly run on the bank growing out of the close of three other financial institutions this morning. The three banks are closed because of circulation of an anonymous letter advising depositors to withdraw their money from the Southern Bank & Trust Co. Pending strengthening of its finances, the state comptroller ordered the Southern bank not to open today In the belief that they might be un able to withstand possible withdraw als. At the same time the comptrol1er urged the public to be calm and cool. Noon found a determined run at the First National bank with the institution accommodating the order ly crowd as fast as it gained access to the windows. While the police sought the sender of the note to which officials of the Southern bank attributed responsibility for the steady withdrawals within the last few days.
One said: "Quietly ge your money out of the Southern Trust Co. It is going soon. Signed, Hirman."
3.February 6, 1928The Daily TimesDavenport, IA
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THREE BANKS CLOSED; RUN
Fla., Press) Seven million dollars in cash will be sent to the First National bank by the Federal Reserve bank branch in by airplane and train to pay all depositors wish to withdraw their funds, officials of the local Institution following an or. derly run on the bank growing out the of three other local financial Institutions. determined run on the First National bank began during the noon hour today following the failure three other Miami financial institutions to open for business today. Other large banks reported normal business conditions. The banks which failed to open for business today were the Southern Bank & Trust Co., the Citizens Bank, and the Bank of Allapattah. The Southern Bank & Trust Co., requested Comptroller Amos to assume charge of its affairs pending strengthening of finances. following heavy of deposits caused by the of anonymous letters predicting its failure. Mr Amos ordered the other institutions not to open in the belief that they not in financial position withstand large withdrawals which might result from excitement incident to the closing of the Southern Bank & Trust Co. Under normal conditions they could operate. he said. adding that there had been no sign of run at either place.
4.February 6, 1928The Daily AdvertiserLafayette, LA
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Anonymous Letters Blamed For Run That Closes Miami Bank; Two Closed For Safety
MIAMI. Fla., Feb. (Associated Miami banks failed to open for business today, including Southern Bank and Trust Company. the Citizens Bank and the Bank of Allapattah. The Southern Bank and Trust Company requested Comptroller Amos to assume charge of the affairs of that institution pending strengthening of finances following heavy withdrawal of deposits caused by circulation of anonymous letters predicting failure. The Comptroller then ordered the two other institutions to open for business in the belief that they were not in financial position to withstand large withdrawals which might result from the excitement incident to the closing of the Southern Bank and Trust The Comptroller said, however there was sign of run being made at either place. Other banks reported there had been no unusual withdrawals. Comptroller Amos published plea for "cool and collective public spirit.
"If the public remains cool and doesn't rush the banks this ought to blow over," he said. In announcing that the Southern Bank and Trust Company had suspended but would re-open March 15th and that the State Comp troller would take charge at the re- quest of officials, President J. E. Lummus said in a public statement that the large demand for cash during the last few days had been caused by anonymous letters written to depositors and advising them to "quietly get your money out of the Southern Bank. The letters, the president said, were signed "Hiram," and bore crudely drawn Masonic emblem. They were mailed Saturday, January 28th in Miami but the bank president unable to estimate their number more accurately than that there "more than dozen. Some were sent to persons who were not depositors, he said. Police are seeking to trace the sender. determined run on the First National bank began during the forenoon following the failure of three other Miami financial institutions to open their doors for business this morning The large bank lobby accommodated all who seeked to gain admittance up to 12:30 this afternoon. The officials of the bank were mingling with the crowd in the loband was impossible to reach them for statement. The regular closing time of the First National o'clock in the afternoon. The other Miami banks reported normal business conditions.
5.February 6, 1928The Index-JournalGreenwood, SC
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MARKETS AT A GLANCE
NEW YORK. Feb. New York: Stocks bonds quiet: foreign exchanges advanced: sugar CHICAGO: corn easy: cattle steady weak: lower.
MONEY MARKET
NEW Feb. Call money firmer: high ruling rate 1-4: elesing bid 1-4. Time loans firm: mixed collat 60-90 days months 1-2. mereantHe paper
LIVERPOOL SPOTS.
LIVERPOOL Feb. Cotton spot quiet: prices steady. American strict good middling 10:33: good middling strict middling 9.88: middling 9.83: strict middling low middling strict good ordinary 9.43: dinary sales 5,000 bales. cluding 3,900 Receipts none. Futures closed steady March May July 9.20: October 9.08: January 9.05.
Comptroller Amos emphatically asserted that under normal conditions all of the closed banks could have operated as usual and that their closing was measure. There had been no sign at them. he said. there had been heavy withdrawals from the Southern Bank and Trust Company over period of several days following circulation of the letters. Meanwhile officials of the South ern Bank announced that it would re-open March 16. President Lummus said that deposits in open accounts and trust funds fully protected.
6.February 6, 1928Norfolk Daily NewsNorfolk, NE
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ACTION CLOSING THREE OTHER MIAMI
Miami, million dollars cash the First National bank Federal Reserve bank branch Jacksonville by airplane and all depositors who withdraw their funds, officials local institution announced afternoon following orderly bank growing out closing of three other local cial institutions morning. The three banks that open for business today Southern Bank and Trust pany, the Citizens bank, and Bank of The Bank and Trust company requested Comptroller Amos assume charge of its fairs pending nances, following heavy withdraw. deposits caused circulation of anonymous leters predicting failure. President Lummus bank said that "large demands during the last days been caused letters writen to depositors and them to "quietly your money the The letters, said, were sign "Hiram" bore crudely drawn Masonic Police are seeking to trace sender. President Lummus said that deposits in funds were fully protected.
7.February 6, 1928Greenfield Daily RecorderGreenfield, MA
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Article Text
Miami banks failed for business They the Southern Bank and Trust Company, the Citizens Bank, and the Bank of Allapattah. The Southern Bank and Trust company requested comptroller Amos assume charge fairs pending strengthening of nances, following heavy withdraw of deposits caused by circulation of letters predicting its failure. Mr. Amos ordered the other stitutions in the belief they financial position withstand large withdrawals which might result from excitement incident the closing Southern Bank and Trust Company. Under normal conditions they could operate, he said, adding that there had been sign of their run place.
8.February 6, 1928Biddeford-Saco JournalBiddeford, ME
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TAKES CONTROL MIAMI BANKS
Runs Follow Heavy Anonymous Letter Circulation.
Miami, Fla., Feb. Miami banks failed to open for business today. They were the Southern Bank and Trust company, the Citizens bank and the The Southern Bank and Trust company requested comptroller Amos assume charge of its affairs strengthening of finances, following heavy withdrawals of posits caused by circulation anonymous letters predicting its failure. Mr. Amos ordered the other institutions to open in the belief that they not in financial withdrawals which might result from excitement cident to the closing the Southern Bank and Trust company. Under normal they could operate, he said, adding there had been either place. that the Southern Bank and Trust company had suspended would re-onen and that the state compMarch had the troller its President said in public "large demands for cash during that (Continued on Page Two.)
HALTRUNS ON MIAMI BANKS Sender of Mysterious Letters Are Sought By Officials MIAMI, Fla., Feb. 7.-(A))-Financial circles in this city today were reacting from the cumulative effects of "more than a dozen" anonymous letters which precipitated suspension of one bank's business, brought on temporary closing for two others and were responsible for an orderly but determined run on a fourth institution. Meanwhile, police sought the mysterious author of an indeterminate number of letters mailed Jan. 28 in Miami, signed "Hiram," and adorned with a crudely drawn Masonic emblem. "Quietly get your money out of the Southern Bank and Trust company; it is going soon," these letters said, in varying language, but similar substance. Results of these missives today had included: Taking over of the Southern Bank and Trust company by State Comptroller Ernest Amos at the instance of bank officials, stimulated to this step by heavy withdrawals. Orders by Comptroller Amos that the Citizens' Bank and the Bank of Allapattah, small institutions. temporarily close to avoid possible demands on their resources. A run on the First National Bank which kept tellers busy until closing time handing out money to depositors as they demanded it. Other institutions of the city today had prepared for their possible part in the emergency. Increased supplies of currency had been requisitioned. Nearly all of them experienced slight withdrawal increases early yesterday, but several n ported later that deposits showed a jump, the City Naitonal announcing a $400,000 boost,
MIAMI REACTING FROM BANK RUNS Anonymous Letters Cause Withdrawals From Institutions Miami, Fla., Feb. 7 A cricles in this city today were reacting from the cumulative effects of "more than a Jozen" anonymous letters which precipitated suspension of one bank's business, brought on temporary closing for two others and were responsible for an orderly but determined, run on a fourth institution. Meanwhile, police sought the mysterious author of an indeterminate number of letters mailed Jan. 28 in Miami, signed "Hiram," and adorned with a crudely drawn Masonic emblem. "Quietly get your money cut of the Southern Bank and Trust Company: it is going soon," these letters said, in varying language. but similar substances. Results of these missives today had included: Taking over of the Southern-Bank and Trust Company by State Comptroller Ernest Amos at the instance of bank officials. stimulated to this step by heavy withdrawals. Orders by Comptroller Amos that the Citizen's Bank and the Bank of Allapattah. small institutions. temporarity closed to avoid possible demanda of their resources. Run on 1st National. A run on the First National Bank which kept tellers busy until closing time handing out money to depositors as they demanded it. Other institutions of the city today had prepared for their possible part in the emergency. increased supplies of currency had been 1equisitioned. Nearly all of them experienced slight withdrawal increases early yesterday, but several reported latter that deposits showed a. jump, the City National announcing a $400,000 boost. James H. Gilman, president of the Bank of Bay Biscayne, largest bank of the section, and next to the First National. most heavily beleaguered in yesterday's excitement. announeed: While withdrawals were numerous, due to unfounded rumors which caused temporary excitement. we have satisfied every demand and we have on hand and in transit sufficient funds to continue to do so." $7,000,000 Ready. President E. C. Romfh. of the 1st National Bank, declared that the Jacksonville branch of the Atlanta Federal Reserve Bank was answering his institution's call for $7,000.000 in funds to holster the cash rcserves, but said the institution would it. He characterized the run not as need a "temporary flurry attributable to other closings, which will diminish as people see the lack of need for withdrawing their funds." President J. E. Lummus, of the Southern Bank and Trust, held the mysterious letters responsible for the withdrawals that caused his institution to summon state aid and issued D statement which said the bank March 15. a would re-open While this r bank was capitalized at $100,000 it had deposits of $5,138,112. officials : said. Some of the anonymous letters addressed to persons not dei the Southern positors were at Bank and Trust Company. it was said. Chief I of Police H. Leslie Quigg was one recipient.
11.February 7, 1928Times UnionBrooklyn, NY
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'Hiram' Hunted By Miami Police For Bank Panic cash being brought into to-day to assure depositors First National Bank of the security of that institution after three other banks closed doors yesterday. There slight runs on the First National Bank yesterday after the other banks closed following heavy but serious. five hundred thousand brought in by airplane from the Jacksonville Federal Bank yesterday and the additional $5,500,000 is being brought by train banks that blamed anonymous attacking the the Southern Bank Trust The sligned "Hiram." and authorities to-day hunting the sible for the notes. When the Southern Bank and Trust Company failed runs Bank Miami and the Bank of Lummus, president of the Bank and Trust Company, said bank was closed the notes been circulated and he thought better to the institution in the hands of the State Controller Banks rather than which probably would be disastrous.
12.February 7, 1928The Brooklyn Daily TimesBrooklyn, NY
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$5,000,000 SENT TO FLORIDA BANK
First National of Miami Takes Precautions After Three Institutions Close.
By United Press. Miami, Fla., Feb. 7.-More than $5,000,000 in cash was being brought into Miami today to assure depositora of the First National Bank of the security of that institution. after three other banks closed their doors yesterday. There were slight runs on the First National Bank yesterday, after the other banks had closed following heavy runs. but were serious. One million five hundred thousand dollars was brought in by airplane from the Jacksonville Federal Reserve Bank yesterday and the additional $5,500,000 was being brought by train today. The three banks that closed yesterday blamed the runs on anonymous notes sent to depositors attacking the safety of the Southern Bank and Trust Company. The notes signed "Hiram" and authorities today searched for the man responsible for the notes. When the Southern Bank and Trust Company failed to open its doors there runs on the Citizens Bank of Miami and the Bank of Allapattah. J. E. Lummus, president of the Southern Bank and Trust Company. said his bank was closed after the notes had been circulated and he thought it better to place the institution in the hands of Ernest Amos, State Controller of Banks, rather than face run which probably would be disastrous. Shortly after assuming control, Amos issued statement in which he expected to have the Southern and Trust Company condition to reopen for business March Amos said the other two banks could conducted business under normal conditions. but could not stand any run which might curred as result of the tense situaThe South Bank and Trust Company capitalized at $100,000. and last Saturday night had deposits The Citizens' Bank Miami also was capitalized at $100.. 000. while its deposits totaled $149.480. and the Bank of Allapattah had capital stock of 000 and estimated deposits of $110,000.
13.February 7, 1928The Spokesman-ReviewSpokane, WA
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VENGEFUL PEN" CLOSES BANKS
Anonymous Letters Cause Three Miami Houses to Shut Their Doors.
FOURTH IS HARD HIT
Run on Unaffected Bank Takes Out $350,000, but Storm Is Finally Weathered.
Fla., Feb. 6. mous letters predicting the failure one bank caused that to business sulted indirectly the temporary closing of and brought about on fourth called for $7,000,000 from the federal reserve branch bank at Jacksonville to bolster its cash The determined but orderly started at noon on the First National bank, following announcement that Erest Amos, state comptroller, taken charge of the affairs of the and Southern and Trust ordered the Citizens' bank and closed. the Bank of Allapattah temporarily
Letters Caused Action. Explaining he had taken control at the Southern Bank and Trust com. pany at the instance of its officials because of withdrawals, caused by the circulation of the anonymous letters, Amos said he ordered the other two banks closed through fear they might not be able to possible runs. He made plea for cool and public spirit," de. claring that the banks would have been able to remain open under normal the was felt in an quarter when the run quietly was begun at the First National Until closing time the tellers were rapidly handing out money to every depositor demanding it, while officials of the institution mingled with the crowd to spread At no time was the lobby of the bank holding about 250 persons, crowded beyond capacity
Plenty of Cash Due. Officials estimated that the day began cash, and that only $350,000 was paid out the day When the bank closed for the day's business the regular closing time o'clock officials calmly nounced that, in event the run was renewed they would have more than in cash and would meet every No other in the was H. president of the chamber of attributed the to outside influences and not to any Intrinsic economic fault in the institutions or in the territory Romfh, president of the First inounced tonight that the Jacksonville federal reserve vetoed plan to send part of the cash here by but that part the money would be by train tonight and the remainder to-
14.February 7, 1928Petaluma Daily Morning CourierPetaluma, CA
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Lindbergh Is In Haiti
MILLION SENT "LONE EAGLE" TO SAVE TWO NEARS FINISH OTHER BANKS OF GOOD WILL FROM FAILURE TOUR AT HAITI
Failure Of Southern Bank
& Trust Co. One of The
Largest In State, Causes
Disastrous Runs On
Frenzied Enthusiastic
Crowd, Composed Of Wondering Half Naked
Banks Of Miami And Al-
Natives Greets Lindy At lapattah.
Port Au Prince.
Circulation Of Anonymous
Lindbergh's Flight To Port
Letters Attacking S. B.
& T. Caused An Unexpected Run On The Institution, President Lum-
Au Prince Was His Last
But One On His Good Will Tour To Pan
American Parley. mus Claims.
(By United Press)
MIAMI, Fla., Feb. million and a half dollars in cash was being rushed to Miami by airplane today to relieve a tense situation which developed when three banks closed this morning Failure of the Southern Bank & Trust Co., one of the largest in the state, to open for business caused runs on the Citizens Bank of Miami and the Bank of Allapattah which forced them to close a few hours later. The money was being brought by plane to the First National Bank of Miami from the Jacksonville branch of the Sixth Distriet Federal Reserve bank. The First National Bank of Miami suffered slight runs when the three banks closed and the money was being brought here to reassure depositors. E. C. Rofh. president of the First National, said his institution had felt no ill effects from the situation. Rofh said he was expecting another $5,500,000 to arrive by train Tuesday morning. The First National Bank had on hand $1,750,000 in cash this morning. and Rofh haid that the two shipments en route here will enable it to continue business easily.
J. E. Lummus. president of the Southern Bank and Trust Co., said circulation of annonymous letters attacking his bank had caused an unexpected run on the institution which resulted in its failure to open. Ernest Amos, state comptroller, took charge of the Southern Bank and Trust Company. Amos claimed its failure to open had caused runs on the Citizens Bank and the Bank of Allapattah. which they were not able to withstand.
PORT AU PRINCE Haiti, Feb. Chas. A Lindbergh landed at the S. marine flying field here at 1:51 p. m. today his last intermediate stopping place on his good will tour toward the Pan-American conference at Havana A frenziedly enthusiastic crowd. the most incongruous of his long flight. awaited the fliers. American marines in occupation here. mingled with officials and wondering natives from the interior-some of them from districts where the dread secret voodoo magic is not only believed in but practiced.
15.February 7, 1928The Chickasha Daily ExpressChickasha, OK
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FOURTH INQUIRY LONDON CASE
Long Drawn Out Battle in Which Carter County Sheriff Is Storm Center Resumed: Factional Fight Is Feature.
Press) (By The Associated Press) Ardmore, Okla., Feb. 7.-The fourth Miami, Florida, Feb. -Financial circourt of inquiry in an extended fight cles in this city today were reacting from the cumulative effects of "more for the removal of Sheriff Ewing than a dozen" anonymous letters which London was convened here today by precipitated suspension of one bank's Berry King, assistant attorney general business, brought on temporary closing and Elmer Fulton, Special Attorney actfor two others and were responsible for ing for Governor Henry Johnston in an orderly but determined run on a an attempt to determine whether there fourth institution. is sufficient evidence of misconduct to Meanwhile, police sought the mysteriwarrant the filing of an ouster suit ous author of an indeteminate number against the sheriff. The action.. was determined after of letters mailed January 28 in Miami, signed "Hiram," and adorned with a three investigations failed to remove crudely drawn Masonic emblem. "QuietLondon from office and after he was ly get your money out of the Southern called upon to defend a contempt of Bank and Trust company: it is going court charge tried at the last term of soon.' these letters said, in varying lan district court which resulted in a misguage, but similar substance. trial. Results of these missives today had The first was conducted included: by Fred Hansen, the second by J. Berry Taking over of the Southern Bank King. and the third by Elmer Fulton, and Trust company by State Compacting as special investigator for the troller Ernest Amos at the instance of governor. Seven of the counts reported bank officials, stimulated to this step against London by grand jury were by heavy withdrawals. dismissed. He was tried on the last and Orders by Comptroller Amos that the convicted of prisoner to Citizen's bank and the Bank of Allapat go home while he was still under sentah, small institutions, temporarily close tence the court new trial was to avoid possible demands on their regranted by Judge Tom Chambers and London was A run on the First National Bank King reported to the governor he and which kept tellers busy until closing Hansen not found sufficient. evidence against the sheriff to warrant filing of charges, he stated, however, that they found very bitter factional feeling exisiting in the county The governor after several weeks silence said additional complaints had reached him and asked further investigation. The fight on London dates back to June, 1925, when he determined to remove Dwight Bell, one of his deputies, London alleges that Bell's friends waited on him and told him if he removed Bell they would get his job, London he told. them he had not intended removing the deputy until July but in yiew of their attitude he would fire him at once. A grand jury was convened in September, 1925, when eight true bills against London were filed. Another grand jury investigation in 1926 and a third in 1927 failed to return true bills against the sheriff. The contempt case against London was filed for his failure to comply with court order to transport Ed Hall to the penitentiary immediately after sentence of the court but permitted him to remain in the county for a few days to wind up personal financial matters. This case tried at the last term of district court resulted in mistrial and is still on the court docket.
NO ACTION ON MANSION.
(By The Associated Press) Oklahoma City, Feb. 6.-Action was not taken today on location of the governor's mansion because two members of the state board of affairs were out of the city. Gus Wollard. chairman, and Roy O. Coppock, member, were inspecting state buildings at Wilburton, McAlester. Ada and Talihina
16.February 8, 1928Republican and HeraldPottsville, PA
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THE FINANCIAL SCARE AT MIAMI HAS EASED UP
Miami, Fla., Feb. 8. (U.P)-As police sought the mysterious note writer who warned against depositing money in several Miami banks and thereby caused runs that forced three to close other banks today reported the tense financial situation had eased. There were some withdrawals from the Bank of Biscayne, but officials said these were by "penny savers with small accounts" and that their reserve was in excell nt shape Officials of the First National Bank had more than six million dollars brought in from the Federal Reserve Bank at Jaeksonville-said their accounts were in excellent shape They said the crowd in the lobby yes. terday was no greater than at any other day of mid-season rush and there probably would be no need of the additional cash brought in. The Southern Bank and Trust Company had closed Monday after notes signed "Hiram" had been passed around. warning of the bank's condition Runs forced the Citizens Bank of Miami and the Bank of Allapattah to All three institutions were taken over by the State Banking Department and the Southern Bank probably will be reopened about March 15. The State Examiners said the Citizens Bank and the Bank of Allapattah were in good shape, but in no condition to stand run.
17.February 9, 1928The Sand Mountain BannerAlbertville, AL
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FLORIDA BANKS CLOSE BECAUSE OF FAKE TIPS'
Anonymous Letters Advise Depositors To Withdraw Funds
Miami, Feb. million dollars in cash will be sent to the First National bank from the Fedderal Reserve bank branch at Jacksonville by airplane and to pay depositors who wish to withdraw their funds, officials announced this afternoon following on the bank growing out of the closing of three other financial institutions this morning.
Miami, Fla., Feb. rary closing of three banks cause of circulation of anonymous letters advising depositors withdraw their funds from the Southern Bank Trust company today by run the First National bank. Taking charge of the of the Southern Bank & Trust company at the request of its officials, State Comptroller Amos had ordered the Citizens Bank and the Bank of Allapattah not to open in the belief that they might not be able to wihstand possible large withdrawals. At the same time the comptroller made plea to the public for "cool and collected spirit" serting that the public mains cool this ought to blow over." Noon, however, found determined run in progress the First National bank and the institution accommodated the orderly crowd as fast as gained the windows. Police were seeking the sender of the anonymous notes to which bank officials attributed responsibility for the heavy withdarwals. The Southern Bank Trust company capitalized at $100,000 and Saturday night had more than $5,000,000 in deposits. The Citizens bank was capitalized at $100,000 while the Allapattah institution had $15,000 capital.
18.February 10, 1928The Sedalia DemocratSedalia, MO
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THE EMERGENCY
Reaction From Letters That Caused Runs
Rapidly diminishing excitement Tuesday yesterday's flurry which sulted from closing of Miami banks brought optimistic statements financiers and state officials. Some with drawals made but the lines tellers' cages not as long insistent those yesterday. State officials said they no more suspensions. might classed as said Porter, chief state bank examiner.
Florida Financial cles in Tuesday acting from cumulative effects "more than dozen" letters which precipiated suspension bank's business, brought on temporary closing two others were responsible for an orderly but determined fourth institution. Meanwhile, police sought author of an minate number of letters mailed January 28 in Miami, signed "Hiram," adorned with crudely drawn Masonic emblem. "Quietly get your money of the Southern Bank Trust Company; going soon", these language, but similar substance. Results of these missives today included: Taking over of the Southern Bank Trust Company by State Comptroller Ernest Amos at the instance of bank officials, stimulatto this step by heavy withdrawOrders by Comptroller Amos that Bank the Bank small institutions, temporarily close to avoid possible demand their resources. First National Bank which kept tellers busy until closing time handing out money depositors they Other of the city day possible part the emergency. Increased plies currency had been requisitioned. Nearly all of them ienced slight withdrawal early but report deposits jump, the City National announcing boost.
19.March 20, 1928The Miami HeraldMiami, FL
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LUMMUS FAVORS BANK PROPOSAL
President of Southern Approves Depositors' Agreement. J. E. Lummus, president of the Southern Bank and Trust Company, fully approves the plan of reopening and the depositors' agreement, he said "It is the plan that I know of by which the bank reopened this time,' he said. have spent my time since the bank pended business in analyzing the situation, while the bank examiners in charge were making complete examination the affairs of the bank, and feel that if this plan is not adopted can see no other method except to the affairs of the bank wound up through receiver. H. H. Filer, chairman of the depositors' committee, nnounced that $827,957 in deposits had approved the agreement. When 75 per cent of the deposits in amount are signed up the bank may be reopened under the plan. Five per cent of them will be paid in cash and certificate of deposit given for 55 per cent. The balance of 40 per cent may be set aside further assets may be realized upon.
20.April 24, 1928Tampa Bay TimesSt. Petersburg, FL
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MIAMI BANK WILL OPEN ABOUT APRIL 30, CLAIM
April Plans for the Southern Bank and Trust Company of Miami to reopen for business about April 30, today at the banking department. The bank operations short time ago with between four and five dollars in deposits involved. bank plans to resume activities under reorganization, said.
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.
