gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0807f0945737df89
Response Measures
None
Description
Bank was placed in hands of state examiners and articles discuss reorganization/liquidation; final disposition unclear but appears to be formal suspension leading to receivership.
Events (2)
1.July 11, 1929Run
Cause
Local Banks
Cause Details
Heavy withdrawals/run on First National was precipitated by the closing/suspension of the nearby Volusia County Bank.
Measures
First National temporarily closed and was placed in the hands of federal authorities pending reorganization or liquidation.
Newspaper Excerpt
an hour later the First National Bank closed temporarily following a run on that institution.
Source
newspapers
2.July 11, 1929Suspension
Cause
Government Action
Cause Details
State bank examiner posted notice that the Volusia County Bank and Trust Company had suspended and was placed in the hands of the state banking department.
Newspaper Excerpt
a notice, signed by George C. White, state bank examiner, was posted on the door ... announcing that the bank has suspended business and is now in the hands of the State Banking Department.
Source
newspapers
Newspaper Articles (23)
1.July 11, 1929The ItemSumter, SC
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FLORIDA BANKS CLOSED
State Bank Suspends and Run Forces National Bank To
Deland, July Volusia County Bank Company, oldest financial institution in this county, failed to open doors o'clock this morning hour later the First NationBank closed followrun on that institution. notice, signed by George White, state bank posted the door the Volusia County Bank and Trust Company, that the pended and now the hands the state Dr. Lincoln Hulley, University here, recently president County Company. The First National Bank, only in experienced heavy run o'clock the doors closed notice posted on the door that run the supply cash on hand, tating of pend ing arrival of federal bank author B. Titen is president of the First National Bank
2.July 11, 1929Sun HeraldBiloxi, MS
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Two Deland, Fla., Banks Close Doors
Deland, Fla., July 11.-(P)-The Volusia County bank and Trust Company, oldest financial institution in this county, failed to open its doors at 9 o'clock this morning and an hour later the First National Bank closed temporarily following a run on that institution. notice. signed by George C. White, state bank examiner. was posted on the door of the Volusia County Bank and Trust Company, announcing that the bank "has sus pended business and is in the hands of the state banking department."
New York-Mr. and Mrs. F. Le Moin Page of Pittsburgh had difforence of opinion. She wanted to learn to fly. He objected. They compromised. She came to New York to learn. He followed. Both took solo flights the same day. Now they are going to buy plane.
Mound Bayou, Miss.-This negro town of 1,500 without jail today be ban week's celebration of its 42nd anniversary. It was founded in wilderness. Now it is surrounded by cotton farms worth $200 an acre. The jail was torn down because it had no occupants in two years
3.July 12, 1929The Daily ReportOntario, CA
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BANK FORCED PRESIDENT
State Banking Law Said Violated by President Now Under Heavy Bon
DUMMY HOUSE LOST CITY HAS NO BANK
Womanless Wedding Set for Climax Today's Program of Festivity
GILLINGHAM, Kent, Engboisterous. comedy climax of a two-day mid-summer festival was turned suddenly into a ghastly tragedy before the eyes of 5,000 people last night when plans for "The Fireman's went awry and 12 persons were burned to death. Ten of the 12 were burned almost unrecognizably by the fire which swept through "dummy house" onlookers applauded what they took to be the victims realistic acting. Two others died in hospitals lat and three more were not expected to live.
"Wedding" Becomes Tragedy
Gillingham had saved the "wedding" feature for grand climax to the festival which began Wednesday. The famous old English comedy performance of Fireman's Wedding" was to have been staged. and thousands citizens assembled to watch the antics of the womanless wedding party. The wedding party arrived the scene late in the evening, and was greeted with cheers laughter. The bride, Worrall, fireman. timidly clung to the arm of Jack Tabrett. the bridegroom.
Ready for "Rescuers"
Worrall's charred body lay to day in the Gillingham mortuary along with the nine other bodies. Tabrett in hospital, not pected to live. To the laughter of the audience, the wedding guests followed the bride and into the house and climbed to third and fourth floors where the wedding reception was held. Many clowns were among them. some dressed old women. ready to loars of laughter from the watchby making "heroic reseues lat when the fire scene was staged.
Stage Carefully Set
According to the plan, the build ing was have been set on fire and those inside to rush mad to the windows. hang from them and implore the watchers to help them. fire bridgade was stationed behind screen of trees, and when the alarm sounded they were to dash forward. save the wedding party, and extinguish the fire. The fire was started. but through some error no alarm was sounded. The groom and their guests rushed to windows calling: God's sake, bring the fire brigade.
Firemen In Hiding
The 5000 spectators applauded and laughed gaily that they drowned out the cries of the victims, which now had become scréams. The firemen, who saw the flames but heard no supposed were not wanted. They chuckled, and waited. think. they were giving the audience added time for enjoyment. Suddenly the alarm was sounded. and when the firemen dashed from behin the trees they they facing real tragey. The firemen hastily adjusted their waterhose and attempted fight the blaze, but the flames had enveloped the flimsy building and too late.
Run on Miami Bank Forces It to Be Closed at Same Time
Deland was without financial institution today resulting from the closing yesterday of the First National bank and the Volusia County Bank and Trust company. Runs during the past four days also caused the Colonial Bank and Trust company of Miami, capitalized at $100,000, to cease business. John Fouts of Barstow was arrested late yesterday at Winterhaven on charge of violating the state banking laws and was freed on $10,000 bond. Fouts was president and director of four Central Florida banks which closed their doors on May 15 of this year.
4.July 12, 1929The TimesTrenton, NJ
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FLORIDA PRESENTS BANKING PROBLEMS
Three Banks Closed-President Of Four Others Facing
Charges
JACKSONVILLE, Fla, July While State and Federal officers began reorganization or liquidation for three Florida banks today, the president of four other Central Florida banking stitutions faced charges of violating the State banking laws. Two of the banks that closed yesterday were in Deland, the only banks in that city. They were the Volusia County Bank and Trust Company and the First National Bank of Deland, which shut its doors during the morning after heavy run precipitated by closing of the Volusia County Bank. The third institution was the Colonial Bank and Trust Company of Miami. John L. Fouts, who made bond of $10,000 after his arrest on an information filed by State Solicitor Hardin Peterson of Polk County, was president and director of the State Bank Barton, the First National Bank of Lakeland, the First National Bank Auburndale, and the State Bank of Winter Haven. Information filed against Fouts in three counts charged he had "loaned" himself $5,000 from the funds of the State Bank of Barton without consent of the board of directors, that he had altered the minutes of the board to make the loan appear regular, and that he had taken the mony when of the institution were not up to legal requirement. The banks he headed closed May 15. The Colonial Bank and Trust Company was capitalized at $100,000. with surplus of $50,000. It had been organized three years, and attributed its closing to steady withdrawals cash during the last four days. J. was president The Volusia County Bank and Trust Company had resources of deposits of capital stock of $200,000; surplus of $100,000, and discounts of $1,724,516.08. The First National Bank of Deland had resources of capital stock of $100,000; surplus of $25,000, and deposits of $1,211,750.47.
5.July 12, 1929Brownsville HeraldBrownsville, TX
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BANKS CLOSED DELAND, Fla., July 12.-(P)-The Volusia Couty Bank and Trust company, oldest financial institution in this county failed to open its doors today, and an hour later the First National Bank closed temporarily following a run on that institution.
6.July 12, 1929Brownsville HeraldBrownsville, TX
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BANKS CLOSED DELAND, Fla., July 12.-(P)-The Volusia Couty Bank and Trust company, oldest financial institution in this county failed to open its doors today, and an hour later the First National Bank closed temporarily following a run on that institution.
7.July 12, 1929The Tampa TimesTampa, FL
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JOHN L. FOUTS, POLK BANKER, IS ARRESTED
Lent Bartow Money to Himself, Says Solicitor.
By The Associated Jacksonville, July 12. While state and federal officials began the process of reorganization or liquidation for three Florida banks today following closing of the institutions, the president of four other central Florida banking institutions faced charges of "lending" himself $5,000 from one of the banks without consent of the board of directors, and with other violations of the state banking laws. Two of the banks that closed were in DeLand the only banks in that city and among the oldest in Volusia county. They were the Volusia County Bank and Trust company and the First National bank of DeLand, which shut its doors during the morning after heavy run precipitated by the closing of the Volusia County bank. The third institution was the Colonial Bank and Trust company of Miami.
Headed Four Banks. The bank official, who made bond of $10,000 after his arrest on an information filed by State Solicitor Hardin Peterson. of Polk county, was John L. Fouts, 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. Information filed against Fouts in three counts charged that he had "loaned" himself $5,000 from the funds of the State Bank of Bartow without consent of the board of rectors, that he had altered the minutes of the board to make the loan appear regular, and that he had taken the money when resources of the institution were not to legal requirement. Time of arraignment for preliminary hearing is expected to be set in fe wdays. All four of the banks headed by Fouts closed on May 15. Technical charges against him name violation of state banking laws. Steady Withdrawals. The Colonial Bank and Trust company was capitalized at $100,000 with a surplus of $50,000. had been organized for three years, and attributed its closing to steady withdrawals of cash during the last four days. J. V. Carpenter was president. The Volusia County Bank and Trust company had resources of $2,818,888.12; deposits of $1,840,048.19; capital stock of $200,000; surplus of $100,000: and discounts The First National Bank of DeLand had resources of $1,789,971.81; capital stock of $100,000; surplus of $25,000, and deposits of D. B. Tuten, president of this institution, said in statement 'that a strong unexpected run had exhausted our cash supply and we had no time in which to secure additional funds We, therefore. were compelled to close our doors for the protection of depositors, believing it for the best interest of everyone." He added that the bank had been placed in the hands of federal authorities pending reorganization or liquidation. Dr. Lincoln Hulley, president of Stetson university, recently became president of the Volusia County bank. According to statement posted in the window of this institution, the bank was closed and placed in the hands of the state banking department "for protection of all depositors by order of the board of directors. Plans have been discussed and further action is contemplated looking to reorganiaztion of the bank with the purpose in view of paying the depositors in full."
8.July 12, 1929The Austin AmericanAustin, TX
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Runs Cause Heavy Two Other Banks To Close Doors
President Charged With Making Loan to Self Without Consent for Failure
Central Florida Institutions Shaken by Defaulting Banks
Associated Press Fla., July 11. Three Florida banks-two at Deland one one Miami were placed in the hands of bank examiners today, and John Fouts, president and director of four central Florida banks which closed on May 15, was arrested in connection with the failure of these latter. The First National bank and the Volusia County Bank and Trust company at Deland, the only two banks in the city and the Colonial Bank Trust company of Miami closed today.
$5000 Loan Charged Fouts, who was director and president the State bank Bartow, the First National bank Lakeland, the First National bank Auburndale and the State Winter arrested Winter Haven Bartow. The information filed against Fouts alleged that him$5000 of Bartow bank's funds without the consent the board. and that he altered the min. the board to make the loan regular, when resources actually were not norVolusia county bank at Deland Capital of $200,surplus and loans and discounts while First National capital stock, surplus, and deposits
Run Causes Closing
The Colonial Bank Trust Miami, capitalized and with surplus open steady cash during the days. for the closing First National bank Deland. notice the Volusia county said plans had "discussed" and further action looking reorganiza. the bank the purpose view of paying the depositors in Lincoln Hulley president of Stet. president the Volusia bank.
9.July 12, 1929The Atlanta ConstitutionAtlanta, GA
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ALL BANKS IN DE LAND CLOSE FOLLOWING RUNS
Three Florida Institutions Post Notices Simultaneously.
Jacksonville. Fla., July Three banks- De Land Miami the hands of bank examiners tonight pending reNational bank De Land closed doors shortly after run following notice the window Volusia County Bank Trust Company. of De Land. that that institution suspended in the hands of the state those banks left De two Land tonight without single financial institution. The Colonial Bank & Trust Miami, and with surplus failed open its doors today after steady of cash during the past four days. three ago and first known the South Florida Trust Company
FOU IS ARRESTED FOR FAILURE. Bartow, July and director four central Florida all
Notice. debts made KEENER which failed on May 15. was rested today information filed by State Solicitor Hardin Peterson. charging him with having violated the state banking laws. Fouts, who was director and president the State Bank of Bartow, the First National Bank of Lakeland, First National Bank of Auburndale and the State Bank of Winterhaven, was arrested at Winterhaven and brought here. His bond was fixed $10.000, which furnished John J. and Vet of this The Fouts with $5,000 the funds State Bartow without the consent of the board directors that and with altering the minutes of the board to make the "loan regular the the bank were not up to the legal requirement.
COMPTROLLER ACTION
July The fice the the rency said today that the closing the First National bank in De Land. Fla., measure to protect interests the from any the institution resulting from failure of state bank nearby. of this kind. was plained. where directors of national bank that depositors are becoming panicky of nearby bank failures, the tion that all depositors the same treatment rather than to permit withdraw their entire deposits and place the bank in an embarrassing position.
LASSITER RETURNS AFTER "BREAK DOWN."
Ala., July J. of the closed Bank and and the City Bank and Trust Com- pany, returned to Birmingham tonight from New York where he had been in hospital for several days. folowing his collapse when informed that his banks had closed. He taken to the home of friends to recuperate. He was accompanied here by Caron Capshaw, New York attorney.
NEW YORKERS INDICTED FOR BANK FRAUDS. New York, July of the firm of Clarke Brothers, a pri rate bank that failed to open its doors two weeks ago after having done busi ness for SO years the fringe of the downtown financial district, were indicted today by federal grand jury on and using the mails defraud. Three younger brothers of the founder, William H. Clarke, inherited the business his death three years named indict ment indicted James Rae Hudson Philip together John Bouker, who joined the firm re cently They were indicted on the eve of public Doe hearing their management the business, instituted today United States Charles Tuttle. as long lines of the depositors. many of them women, filed into his office complaints others included small business clerks. Some told stories Shortly before Mr. Tuttle laid case before the grand account ants for the Irving Trust Company receiver, work on the bank's books, reported indications that the partners owed their bank more addition $440.995 had charged against themselves on ledger.
10.July 12, 1929The Crowley Post-SignalCrowley, LA
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BANKERS ADMIT HIDING ASSETS
(Continued from page one) the defunct bank. Some of the women wept audibly during the hearing.
PRESIDENT OF FOUR BANKS FACING CHARGES
Jacksonville, Fla., July While state and federal officials began reorganization or liquidation for three Florida banks today, the president of four other Central Florida banking institutions faced charges of violating the state banking laws. Two of the banks that closed yesterday were in Deland, the only banks in that city. They were the Volusia County Bank and Trust Company and the First National Bank of Deland, which shut its doors during the morning after a heavy run precipitated by the closing of the Volusia County Bank. The third institution was the Colonial Bank and Trust Company of Miami. John L. Fouts, who made bond of $10,000 after his arrest on an information filed by state Solicitor Hardin Peterson of Polk county, 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 Winterhaven.
11.July 12, 1929The Huntsville TimesHuntsville, AL
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COMELY YOUNG FOR REUNION IN BANKS WOMAN HELD MONTMARTRE FACE CHARGES
Topeka Woman Confesses She Robbed Two Men In Daylight Holdup year and she mitted the holdup Benefit June The Mrs. Vivian and Cecil in an they Marie Rainey, who with them as "nlece" and was Scraper's confidante after the crime, was held for investigation. Officers found $13,690 hidden in an chair behind in the Mrs. said, that her Streit that the holdup after A. salesman, drive her to scene the in front of Security build- Louis Streit brother of Streit, one the employes she robbed. Sheriff Horning said Mrs. Scraphad refused implicate Streit in her confession. Scraper according sheriff, planned the holdup but delayed It because she "lost nerve.' She also said revolver used was There cartridges gun when was found shortly after robbery. arrest the three was said to have resulted given to the authorities by the Rainmother. Rainey Mrs. Scraper and Cecil her home within an hour after the robbery carrying blankets. Officers were inclined to believe the money was hidden in them. Two days later she the returned and took away shoe which, officers said, apparently contained the
Fliers of Pathfinder Expect To Join French Ocean Fliers Soon
July tary shortly for the Orchard Club." The Americans want to their to the French Fevre that both crews succeeded in crossing safely. During the latter part next the will plane crated and will then sail for home. The fliers also drop visit Major Italian flier who is hospital there resting The government has called convene at 6:30 p.m. today Collona render homage to Roger Captain Lewis Yancey, Atlantic aviators. The meeting will mark the of Rome's the two fliers, arrived from Old Orchard, with but one stop enroute, at SanSpain. There will music speeches by ItalThe Aviators will be given a high by the Italian government, Maurice, orders Saints they King Victor Emanuel next Monday.
Four Central Florida Financiers Accused of Violating Bank Laws July and cials liquidation for three Florida banks today, the four other central Florida faced of violating the state Two of the banks closed terday Deland, the banks Volusia Company First National Deland, which during after run the Volusia The Bank and Trust of John Fouts, who $10,000 information Hardin the National Lakeland, the National State Bank Winterhaven Information filed Fouts in counts "loanhimself $5,000 funds the State Bank Bartow out consent directhat had altered the regular that he the institution were not up to legal reThe he headed closed May
Time of for preliminary to be set few The Colonial Bank and Trust Company was capitalized at $100,000 $50,000. closing attributed withdrawa during last few J. The Volusia County Bank and Trust Company had resources capital of surplus $100,000 and discounts of $1,724,The First National Bank of Deland had resources of capital stock of surplus $2,500 and deposits of $1,211,750.47.
12.July 12, 1929The Selma Times-JournalSelma, AL
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THREE BANKS CLOSE RESULT RUNS
Head Of Four Other Institutions Faces Charges
July 12. state and federal offictals began reorganization or liquidation for three Florida banking institutions faced charges of violating the state laws. Two of the banks that closed yesterday were in Deland, the only banks in that They were the Volusia County Bank and Trust Company the First National Bank Deland, which shut doors during the morning after heavy run precipitated by the closVolusia County Bank. ing the third institution the Coloriial Bank and Trust Company of Miami. John made bond of $10,000 his arrest on information filed by State Solicitor Hardin county, was president and the State Pank of Bartow, the First National Bank Lakeland, the First NationBank of and the Bank of Winterhaven filed against Fouts in he had "loancounts himselg $5,000 the funds of the State Bank of Bartow withboard of direcout tors, that altered the utes of the board make the loan that had appear regular and the when of the institution not up to legal The banks he headed closed May
Time of arraignment for preliminary hearing expected to be set few days. The Colonial Bank and Trust Company surplus of $50,000. Its closing was attributed to steady withdrawals during the last few days. J. Carpenter was president. The Volusia County Bank and Trust Company had resources of deposits of 082.19; capital stock surplus of $100,000 and discounts The First National Bank of Deland had stock of
13.July 12, 1929Johnson City Staff-NewsJohnson City, TN
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Opening Of All Electric Home Sunday
Sunday, July 14, the Chronicle and Staff-News All-Electric home will be thrown open for the Inspection of the public. The location is on West 11th avenue, zine block off Roan street. Preparations are now under way for the opening, such as installing the latest in furniture, draperies, and every modern electric convenience. The hours of the opening will he from 2 o'clock in the afternoon until 9 o'clock in the evening each day, beginning Sunday and lasting through the week. Every housewife in Johnson City is invited and urged to attend the opening on some day during the week. New ideas will be learned on home deooration, latest models of furniture, draperies, and many labor saving electric devices for the home will be seen. Local firms who are participating and featuring furniture and electrical equipment in the All-Electric
Home, are H. F. King Company, furniture and draperies; Electric Supply Company, G. E. refrigerators; Bishop Electric Company, electric radios: Lyle-Morgan Company, electrical wiring and light fixtures: Miller Brothers Company, lumber, and Tennessee Eastern Electric Company, electric ranges, electrie water heaters. and many other modern electric appliances. The Johnson City Chronicle and Staff-News will be represented during the opening by hostess. and something of interest.i assured every one who visits the All-Electric Home. And. the latest for the Electric Home will be an Electric Clock furnished by H. E. Hart.
DELAND, Fla., July The Volusia County Bank and Trust Company. oldest financial institution in this county, failed to open its doors at 9 o'clock this morning and an hour later the First National Bank closed temporarily, following run on that institution. A notice, signed by Coorge C. White, State Bank Examiner, was posted on the door of the Volusia County Bank and Trust Company, announcing that the bank "has suspended business and is now in the hands of the State Banking Department."
SEVEN FLORIDA BANKS IN TOILS OF STATE LAWS
Three Institutions Close Doors After "Run"-President of Four Others Under Arrest.
Jacksonville, Fla., July 12.-(A. P.) -While state and federal officials began reorganization or liquidation for three Florida banks today, the president four other central Florida banking faced charges of violation of the state banking laws. Two of the banks that closed yesterday were in Deland- only banks in that city. They the Volusia County Bank and Trust and the First National Bank of Deland. which shut its doors during the morning after heavy run precipitated by the closing the Volusia County bank. The third institution was the Colonial Bank and Trust company of Miami. John L. Fouts, who made bond of $10,000 after his arrest on information filed by State Solicitor Hardin Peterson of Polk county, president and director of the State bank of Bartow, the First National bank of Lakeland, the First National bank of Auburndale the State bank of Winter Haven. Information filed against Fouts in three counts charged he had "loaned" himself $5,000 from the funds of State bank of Bartow without consent of the board of directors; that he. altered the minutes of the board to make the loan appear regular he had taken the money when_ of the institution up to legal requirement. The banks he headed closed May 15. Time of arraignment for hearing is expected to be set ing few The Colonial Bank and Trust company was capitalized at $100,000." surplus of $50,000. It had been ganized for three years/and attributed its closing to steady withdrawals of cash during the last four days. V. Carpenter president. The Volusia County Bank and Trust company had resources of $2,816,188.12. deposits of $1,840,043. capital stock of $200,000, surplus $100,000 and deposits of $1,724,516.08. The First National bank of Deland had of capital stock of $100,000. $25,000 and deposits of $1,211,950.47 D. Tuten, president of this institution, said in that strong run had our cash supply and we had no time in which to funds. We, therefore, were compelled to our doors the protection of depositors, believing It for the best interest of everyone."
15.July 12, 1929The Bradenton HeraldBradenton, FL
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Officials Take Steps To Clear Up Bank Cases
Violation Of Bank Laws Of State Charged To John L. Fouts and federal officials began reorganization liquidation for three Florida banks today. the president of four other central Florida banking institutions faced charges violating the state banking laws Two of the banks that closed yesterday were in DeLand, the only banks in that city and among the oldest in Volusia county They were the Volusia County Bank and Trust Company and the First National Bank of DeLand, which shut
16.July 12, 1929The Buffalo NewsBuffalo, NY
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HEAD OF FARM BANKS IN FLORIDA ACCUSED
John L. Fouts Faces Arrest as Finance Scandal Spreads.
JACKSONVILLE Fla. July 12 (P)While and officers began reorganization liquidation three Florida today the president of four Florida banking institutions faced charges of violating the state banking Two the banks that closed vesterday were in De Land, the only banks in that city They were the Volusia County Bank and Trust company and the First National bank De Land. shut its during the morn ing after heavy run by the closing of the County bank The third institution was the Colonial Bank and Trust company of Miami John Fouts. who made bond of $10,000 after on an information Hardin Peterson of Polk was president and director of the State bank of Barton. the First National bank of Lake land the First National bank of Auburndale and the State bank of Winter Information filed against Fouts in three he had "loaned" himself $5000 from the funds of the State bank of Barton without consent the board of directors, that he had altered the minutes of the board to make the loan appear regular and that he had taken the when reof the were not legal requirement The banks he headed closed May 15
17.July 12, 1929The Buffalo NewsBuffalo, NY
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HEAD OF FARM BANKS IN FLORIDA ACCUSED
July 12 While and federal officers began liquidation for three Florida banks today the president of central Florida stitutions faced charges of violating the state banking the that closed De Land banks They the Volusia County Bank and Trust company and the First National bank of De Land which shut doors during the morn heavy run by closing bank The Colonial Bank and Trust company of Miami
18.July 12, 1929News and RecordGreensboro, NC
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FLORIDA BANKS FAIL TO OPEN DOORS
John Fouts; President of Chain In Central Florida, Is Under Arrest.
IRREGULARITY CHARGED
Jacksonville, Fla., July Three Florida at DeLand and one Miami-were placed in the the examiners today and John Fouts. president and director Florida banks which four central closed on May 15. was placed under arrest in connection with their failThe First National Bank and the Volusia County Bank and Trust comthe only two banks pany at Colonial Bank the and and Trust company of Miami, closed Fouts. who was director and president the State Bank of Bartow, First National Bank of Lakeland. the First National Bank Auburndale and the State Bank of Haven. was arrested at Winter Haven and to Bartow The information filed against Fouts at Bartow, alleged that loaned himself 85 000 of the Bartow bank's funds without the consent the board. and that he altered the minutes of the board to make appear that the loan was regular when the resources actually were not norCounty bank. at had Volusia resources deposits of 19. stock $200,000, surplus $100,000 and loans and of $1,724,516.08, while the First National bank had resources $100.capital stock of surplus $25 000 and deposits of The Colonial Bank and Trust comand pany with of Miami, surplus of $50,000, failed to open its doors after steady withdrawals of cash during the past four days.
BANK IN DELAND, FLORIDA, ANNOUNCES HAS CLOSED Deland. Fla., July Volusia County Bank and Trust company, oldest financial institution in this county, failed to open its and doors an morning att hour later o'clock the National bank closed temporarily following a run on that notice, institution. signed by George C. bank examiner White, posted on state the door of the Volusia County Bank and announcing the bank "has suspended and in the hands of the state banking department." Dr. Lincoln Hulley, president of Stetson university here recently became president of the Volusia County Bank and Trust company, the First National only other bank in Deland. heavy run and shortly after 10 o'clock the doors were closed. D. Tuten is president of the First National bank.
NATIONAL BANK DECLARED AS SAFETY MOVE Washington, July office of comptroller of the currency said today that the closing of the First National bank in Deland, Fla., was measure to protect the interests of the depositors from any run on the institution resulting from failure of state bank nearby. In cases of this kind, it was explained, national bank feel that depositors are of nearby bank they close the national institution so that all depositors recelve the same treatment rather than permit few to withdraw their entire deposits and place the bank in an embarrassing The office said this procedure explained the reasons for two or three national banks in the south closing after failures of state banks in the vicinity. The opinion was expressed was probable the national banks would open as as condiAmong the national banks which closed due to failure of state banks those at Bartow Eufaula, and Lakeland, Fla. The Lakeland bank more than month ago after the failure of state bank which of Its officers was interested. Since then an application has been filed to open new national in that town.
19.July 13, 1929Record-JournalMeriden, CT
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Officers Of Four Florida Banks Held Serious Charges
July While state and federal officers began reorganization liquidation for three Florida banks today. the president of four other Central Florida banking institutions faced charges of violating of the state Two of the banks that closed were De Land. the only banks that They were the Volusia County Bank Trust the First National which shut its doors during the after precipitated by the ing the Volusia County bank. The third was the Trust Fouts, who after his rest information filed by State Solicitor Hardin of Polk county. was president and rector state bank Bartow, the First National bank of Lakeland. the First bank of Auburndale, and the State bank Haven. Information filed against Fouts in three counts charged he had "loaned" himself $5,000 from the funds the State Bank of Bartow without consent of the board of he had altered the minutes the board to make the loan appear regular, and that he had taken the money when sources of the not to legal The banks he headed 15. The Colonial Bank and Trust company capitalized $100.000 with surplus of It organized for three years, and attributed its closing steady withdrawals cash during the last Carpenter was The Volusia County Bank and Trust company resources deposits of capital stock of $200,000: surplus of and discounts $1,724,516.08 The First National bank of De Land had resources $1,789.972.81: capital stock surplus and deposits of $1,211,750.47.
20.July 17, 1929The Watchman and SouthronSumter, SC
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the precedent will be followed on FLORIDA BANKER other ships of the same line, and ARRESTED perhaps other lines. The official President of Four Banks Charged responsible for the innovation With Misuse of Funds he believes travelers prefer to be served by young women than July (AP) men. This is probably true, pro- While state and federal officials began liquidavided the young women are comely tion three Florida today, to look upon, and know their busthe president of four other central iness. faced result may be new boom charges violation of the state ocean travel. woman's banking Two the banks that closed face was once potent enough were in Deland, only "launch thousand ships," banks that city They the may not other women's faces help Volusia County Bank and Trust shipping business? Company the First
21.July 18, 1929St. Louis Post-DispatchSt. Louis, MO
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$5,000,000 CASH SENT TO AID OF FLORIDA BANKS Continued From Page One. should be in banks. the moned from his home at Marblood stream trade celine terrace, took his father to Property Values Still Present. the hospital. have had is Deputy Sheriff Hugo Elmo haps the largest have had in the neighborganized posse in the history of the state, but look hood and hired on the darkened hour that from private detective agency comes just dawn. Property The hounds led the detectives values are still here in Florida. through the cut in the back fence. While there has been no market through cemetery to the have the same soil. the same road and then along the road into sunshine and the same purposeful the city. The trail was lost behind people who take hold with regarage near the Oak Hill railnewed vigor as soon as they realize road tracks and avenue. that the skies cleared in the railroad watchman there financial circles of the state ported man had loitered in the "There has been too much propvicinity until train passed. aganda, too much agitation and he presumably too much withdrawal of funds that ing boarded train. should be in the ordinary channels of trade. CHILD STRUCK BY AUTO "The people have brought down the temple on them. WHILE CROSSING BROADWAY selves. and soon they realize She Suffers Internal Injuries and this they change their Thigh Fracture: Motorcyclist all these bank failures. Thrown From Machine Florida still more money left Crossing Benton street at North in banks than some of our sister Broadway at states. instance of unpreceStella, daughter of Theodented withdrawals the of dore Bennett. North Broadtaken out of the Citiway, struck automobile zens' Bank of Tampa in one day. driven by Edward Flakes, BenVolusia County Bank of ton street. She was taken to ChrisDeland had of new funds tian Hospital suffering from interand the Merchants' Bank of Day. nal injuries and fractured right tona Beach had secured of funds. which under ordinary William 6701 circumstances would have been thrown sufficient to have carried them from his motor cycle at Kansas through the summer. and at m. "There has been run on the yesterday he collided with Bank of City for day or the truck of William E. Reed two. Washington, Mo. He treated majority of the banks at City Hospital for fractured closed Tampa were affiliated skull. Both men were held. with the Citizens' Bank of Tampa, Reply French Note. and their closing was made necessary on that account as precaution. of State Stimson announces tary ary measures. that reply to the French note "Confiscation of fruit made it regarding valuations placed on possible for to meet their French goods imported into this obligations to the banks." country had been sent. Evaluation
22.July 18, 1929The Miami HeraldMiami, FL
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COMPTROLLER SAYS
CONDITIONS GOOD TAMPA July of today aggregate deposits more than regarded State Amos tonight being the 'darkened hour just the dawn. In statement The Comptroller he bethe primary cause of the was ganda and the mental attitude of the people. There financial depression to degree the the comptroller explained, "which has accentuated by the effect of the regard this the just however, people will not tear the temple upon their heads. This what they are doing "The flurry we have had today perhaps the largest we have the history of the Property values in Florida. While there been no we the same the and same who will take hold they that cleared in the circles of the state. "There has been too much propaganda, much agitation and funds that should be in the ordinary channels of trade. The people have brought down temple on themselves, as they this they will change With all bank failures. Florida still has money banks than our sister As an instance the sum $750,000 was taken out the Citizens Bank Tampa one day. "The Volusia County Bank DeLand had of new funds and the Bank of Daytona Beach had secured $500,000 new funds, which, ordinary would to have carried the There on the bank of for "The majority of banks that closed in Tampa today affiliated the Citizens Bank of Tampa and their closing was made that account as precautionary meas"Confiscation of fruit made it impossible for to their gations to the Aggregate capital stock of the 15 which today. to figures the state banking department, deposits and assets of Names of the defunct institutions which were placed in hands of the bank today Bank and Trust Tampa: *Franklin Tampa; *Lafayette Bank, Tampa: American State Bank Tampa; Nebraska Bank, Tampa: *Bank Ybor City, City: *Bank of Plant City, Plant *Bradenton and Trust ComBradenton: *First Bank and Trust Company, First State Bank, *Bank Pasco County, City: Bank Frostproof; Bank Port Tampa Bank lenton Bank, Ellenton. ated Citizens Bank at Tampa. Eight banks in weeks, bringing failures within board directors of the Citizens Bank Trust which parent institution the other banks which failed today, issued written statement, the present "unwise and the pearance the which was responsible for the feeling unrest fear on the the Directors the Citizens Bank predicted depositors indicated go out of business confidence, cash brought here airplane today from Atlanta and delivFirst National Bank Tampa, member of the Federal Reofficials of other solvent in statements plenty cash had been Creed Taylor, deputy governor of Federal Reserve Bank Atlanta, arrived here today declared that local the money they with which to meet from Washington stated that the from lanta Tampa said by Federal Reserve officials to have been sent under authorization by the board At Sarasota officials of the Bank of Sarasota and the Savings and the First Trust Company, the three solvent there, said closing the First Bank and Trust Company that city "had no effect whatever" their Both were conducted under usual today. they said John Ringling circus fame chairman of the Bank Sarasota the and Savings has behind fortune of the late Charles brother.
23.July 18, 1929Morning ExaminerBartlesville, OK
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Florida Official Sees Better Times Just Around Corner
Fla., July 17. Amos, state comptroller, Wednesday night issued the following statement regarding recent bank failures within state:
'Propaganda, probably originated selfish interest, and culated for several weeks about the banking situation south Florida, of the reasons for the disturbance which culminated Wednesday in the closing banks. However, the primary cause the failures has been heavy withdrawals, some instances reaching stage of excited runs. The general business depression, the Mediterannean fruit occasional bank failures have tended break down the confidence of the people bank institutions and have drivgood deal money into hiding that should be banks, supplying the blood stream trade. flurry have had today perhaps largest have had history the state, look on the darkened hour that comes just before dawn. Property values are still here Florida. While there has been market, we have the same soil, the same sunshine and the same purposeful people, will take hold with renewed soon as they realize that the have the financial circles of the state. "There much propaganda, too much agitation and too much withdrawal funds that should be the ord inary channels people have, brought down the temple and soon they realize this they will change attitude. all these bank failures, Florida still has money banks some of states. precedented withdrawals the $750,000 taken out of Citizens Bank of Tampa Volusia County Bank Deland had $700,000 new funds and Merchants Bank Daytona Beach secured $500,000 of new funds, which, under ordinary circumstances would have been sufficient have carried them through the summer. "There has been run the Bank of Ybor City for day
"The majority of the banks that closed Tampa today affiliated with Citizens Bank of Tampa and their closing made necessary that account precautionary "Confiscation fruit made meet their obligations to the banks.'
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.
