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July 12. The Merchants Bank and Trust company, and the Atlantic Bank Trust company here closed today. Runs were made on the Daytona Beach Bank and Trust company the First tional bank, the other two financial here. but they to meet the demands of depositors' withdrawals
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DAYTONA July 12. The Merchants Bank Trust company the Atlantic Bank Trust company here closed their doors Runs also made on the Daytona Beach Bank Trust company First National bank, the institutions here. but they were able to meet the demands of depositors withdrawals. The bank failures here brought to five the number of banks that closed their doors in Florida the two The Volusia County Bank Trust company and the National bank in DeLand the Colonial Bank Trust company of Miami closed yesterday. Notices posted doors of the Beach institutions stated been closed by the aminer for protection the depositors pending The notices bank. which identical wording, stated that efforts would made pay all depositors in full Officials of the Atlantic National bank and the Barnett National bank of Jacksonville wired officials the two closed institutions, offering them financial
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RUNS CLOSE BANK AT DAYTON BEACH, FLA.
DAYTONA BEACH, Fla., July 12.-(P)-The Merchants Bank and Trust company and the Atlantic Bank and Trust company here closed today. Runs also were made the Daytona Beach Bank and Trust company and the First National bank, the other two finanetal institutions here, but they were able meet the demands of depositors' withdrawals
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HEAD OF WILL BE TRIED FOR VIOLATIONS
Daytona Beach Failures Cause Heavy Runs Upon Two Institutions.
$9,000,000 TIED UP
JACKSONVILLE. July depositors' money was tied up today and Federal banking authoriworked the reorganization liquidation of six Florida closed last eight days, five of them since Thurslatest fail were two in DayTrust Company and the Atlantic Trust Company which suspended business yesterday. Both were according notices on their doors, by state bank examiners pending reorganization for the protection of their customers. The failure of the Daytona Beach banks brought run the two maining the city, which business heavy withdrawals. in the county. suffered closing of the only bank trust company the First National while Colonial Bank and Trust Company failed that The Peoples' Bank Jacksonville, closed last Friday morning. While banking officials the Federal the books of the six John of four other central Florida banks, prepared for preliminary hearing three charges involving violation state banking Fouts president and director the State Bank Bartow. First National Bank of Lakeland. First Auburnand the State Bank of Winter Haven.
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Bring Total to Five to Fail Within Two Days.
Heavy Runs Made on Two Daytona Beach Institutions, but They Withstand Strain.
JACKSONVILLE, Fla., July 12 (AP).—Failure of the Merchant's Bank and Trust company and the Atlantic Bank and Trust company at Daytona Beach today, brought to five the number of financial institutions to close in Florida within the past two days.
The Volusia County Bank and Trust company and the First National bank, both of Deland, and the Colonial Bank and Trust company, of Miami, closed yesterday.
Meanwhile, pending re-organization or liquidation, John L. Fouts, president and director of four central Florida banks, which failed recently, was at liberty under $10,000 bond, following his arrest on charges of violating the state banking laws.
Failure of the two Daytona Beach banks today was followed immediately by runs on the Daytona Beach Bank and Trust company and the First National bank of that city, but they were able successfully to meet the demands.
Notices posted on the doors of the two closed institutions stated that they had been closed by the state banking department for the protection of depositors, pending reorganization.
Fouts, who was president and director of the State Bank of Bartow, the First National bank, of Lakeland, the First National bank, of Auburndale, and while plumbing, heating and electric wiring will make the total cost about $91,000.
The school board met at the home of Charles O. Vaughn, chairman, who is still sick. All the members were present except V. Z. Cline, who is under injunction not to participate in its sessions.
Contract for the electric wiring went to the Tennessee Plumbing and Electric company, of Etowah, while the plumbing and heating job was awarded to John Cuneo, of Chattanooga.
The contracts were signed and approved within a few minutes after the successful bidders had been determined, and Christmas & Murphy announced work would begin Monday morning. They hope to have the building ready for use by Jan. 1.
Spring City's school was destroyed by fire several months ago and the school has been conducted in churches and the gymnasium, which was not damaged by the fire.
The board of education's committee on buildings is composed of Chapman Wasson, Creed F. Cunnyngham and W. C. Day.
FORD WRITES CHECK, FIRST IN FIVE YEARS, FOR TWO-CENT LOAN
NEW YORK, July 12 (AP).—Henry Ford, with his personal check, has redeemed a 2-cent loan.
When he found he had no money in his pockets to purchase a 2-cent stamp commemorating Thomas A. Edison's invention of the incandescent light, Mr. Ford at the recent jubilee celebration of the light at Atlantic City borrowed two pennies from J. F. Quinlan, secretary of the jubilee committee.
Quinlan has received in payment the first personal check Mr. Ford is said to have signed in five years, but Mr. Ford's check book will be forever out of balance, for Quinlan does not intend to cash the check, he said today.
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JACKSONVILLE, Fla., July 12 (AP).—Failure of the Merchant's Bank and Trust company and the Atlantic Bank and Trust company at Daytona Beach today, brought to five the number of financial institutions to close in Florida within the past two days.
The Volusia County Bank and Trust company and the First National bank, both of Deland, and the Colonial Bank and Trust company, of Miami, closed yesterday.
Meanwhile, pending re-organization or liquidation, John L. Fouts, president and director of four central Florida banks, which failed recently, was at liberty under $10,000 bond, following his arrest on charges of violating the state banking laws.
Failure of the two Daytona Beach banks today was followed immediately by runs on the Daytona Beach Bank and Trust company and the First National bank of that city, but they were able successfully to meet the demands.
Notices posted on the doors of the two closed institutions stated that they had been closed by the state banking department for the protection of depositors, pending reorganization.
Fouts, who was president and director of the State Bank of Bartow, the First National bank, of Lakeland, the First National bank, of Auburndale, and the State Bank of Winter Haven, was arrested at Winter Haven on a charge that he had unlawfully "lent" himself $5,000 from the funds of the State Bank of Bartow without consent of the board of directors.
He also was charged with altering the minutes of the board to make the "loan" appear regular, and with having taken the money when the resources of the institution were not up to legal requirements.
Officials of the two closed Daytona Beach banks would make no statement.
The Merchant's Bank and Trust company at Daytona Beach was the largest banking institution in that city. The notice on its doors was signed by E. R. Conrad, president, and F. J. Niver, secretary.
The wording of the directors' notice at the Atlantic bank was identical.
F. N. Conrad, president of the Atlantic bank, is chairman of the board of the Merchant's bank, and was president of the latter institution until a few weeks ago when he resigned. He was succeeded by his nephew, E. R. Conrad, who also is a director of the Volusia County Bank and Trust company, that failed at Deland yesterday.
Niver, who is executive vice-president and secretary of the Merchant's bank at Daytona Beach, also is secretary of the Atlantic bank there.
The Merchant's bank had resources of $3,749,984.46; deposits of $2,921,030.53; capital stock of $100,000, and surplus of $250,000.
The Atlantic bank had resources of $785,719.94; deposits of $461,934.70; capital stock of $100,000 and surplus of $31,330.24.
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DAYTONA BEACH, morning Missing well some other seeing familiar face conThe helps am keepup Helen around her representthe the especially Our Helen the flying fingers suggestive of Mona had very gratifying report from Miss Mildren Sherwood the day of the satisfactory convalescence her protegees on pleased one young had bed several the going the few was around room and can speak aloud after whispering for months.
Urban Woodbury, writing in The Times week ago in defense familiar Donald Gillis pleased the former magnate, record, but heard that has He'd surprised meaning Mr. Woodbury.
Judge Tom Jones has my thought recent going become reconciled his absence from Ashefind myself picturing him my mind's over over made his odical his one bundle the He was great student, and poise. withal who and served his them.
News of the run on the Daytona Bank and Trust week like spread people get the window before the played checks smilingly usual closing when the the bank open for business Monmorning earlier than regular opening hour. And that was the the scare, bank doing business same stand with confidence restored everybody happy.
The Daytona in an editorial Monday statement that the run the was the result malicious propaganda spread certain persons for the purpose wrecking the bank. My that Daytona divided against being torn and wrecked political factions. There too much and criticism much mud-slinging The like many this financially, and forget their differences and together for get the good to the greatest number, it going on the rocks. attended boxing exhibition at the Armory under the auspices Battery 265 Coast Artillery, night recently. new perience me and saw started with the inevitable "battle bunch colored slugwho other but were and again when the the coins. The bout, the event, for which folks paid not place about Mike former champion world. stalked through the the great building climbed through the ropes the typical specimen Emerald His youthful foeman, Godwin, Beach and touted the the was awaiting him, and ten rounds hammer tongs, with fighting Irishman ways on defense. Godwin the given decision, and from the action he in the scrap, but somehow had the along that the cool and doughty old fighter landed most any About 1,500 people present, quite number dressed no doubt, hard up for amusement. Florida has been putting one over on its climatic President Coolidge and Hoover the month fishing and the other saying nothing whatever
The rendezvous of all tourists here the Casino Burgoyne, situated between Beach Street the Halifax River. There more courts strip wide and feet angle painted on end divided into bered spaces The big slide 6-inch one spaces by giving push sort putter. Not but ponent usually knocks the first disc and sticks his like the hilarious game crokinole scale the the are filled with and women the On the galleries the Casino are of for and busy. Then there the horseshoe, croquet and lawn adjoining each other. Across the river rear the playground island. which baseball diamond "Montreal Base Ball Training The island much of our old Riverside the when Mayor Coggins, Ed Brown others knocked 'em into the lake down there.
The Casino Burgoyne was the gift greatprinter came years the building arranged the for the pleasure comfort for imported fine through the season was formerly one large room, with quaint and cheery messages the various recall which read, "Come on saved place for Burgoyne passed on, the powers that have cut several one which another by the Fruit Fly Quaran tine Inspection the donor hangs on the hall. bronze pedesstal Since writing above tablet hte between Casino river, memory of wife 1917."
The Burgoyne home Beach Street sight rambling shingle building that would describe with my limited French chateau. stands about 100 the grove palmettoes, wall occupying probably four city blocks. Mrs. there recluse have sign about the man working the grounds. half between the house and the street the detached covered pergola. from its night, visible the house sorrow. The window shades rotting shreds, scurry from tree as afraid shadow, thousands tiny frogs squeak dismal dirge from grounds. beautiful under but creating of melancholy, misery and misin was cheer joy the of were title for the little Prowould the Whistling tion in the United States phant tread."