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Fort Lauderdale's Only Bank Does Not Open Fort Lauderdale, Fla., Feb. 16 (AP) The Fort Lauderdale Bank and Trust company, the only financial institution in Fort Lauderdale, failed to open for business today. A notice stated that the officers and board of directors had decided to suspend business but did not say why. The bank. of which W. C. Kyle is president, is capitalized at $250.000 and recently took over the First National Bank here in a merger.
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Fort Lauderdale Bank Suspended FORT Feb. Fort Lauderdale Bank and Trust Company failed to open doors for business Thursday. Decision to suspend business was reached last night at meeting officers and board of directors. bank the only financial institution in Fort Lauderdale, having recently over affairs the First National Bank in Officials as yet have issued no statement the cause defior nite plans for the future but that an attempt will be made to reopen at the earliest possible date. The bank was capitalized at $250,000.
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BANK RECEIVER NAMED The newly organized Broward Bank and Trust Company of Fort Lauderdale, which issued charter the state banking department, morrow received for the Fort Lauderdale Bank and Trust Company, comptroller Ernest Amos announced today.
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FORT LAUDERDALE BROWARD COUNTY INVESTIGATION OF LAUDERDALE BANK ORDERED Citizens, Unable to Get Definite Word, Name Committee DAILY NEWS BUREAU Formation of an investigation committee to gather all available information on the status of the defunct Fort Lauderdale Bank & Trust Co., was the action taken at meeting of depositors of the bank, held last night in the city council chamJerome Orr made chairman. Disappointment at the failure of any of the Broward Bank & Trust Co., receivers for the closed bank, was expressed by the large crowd, which packed the chambers and crowded about its doors. Permanent organization was started at the meeting and will be further perfected to be night. This will next Thursday be held at the same place, but if the crowd proves too great, will he removed to other quarters. A letter from Ernest Amos, comptroller, read. in which he answered request from the or ganized depositors make public the status of the bank the port would be too bulky, but volunteering give any sired by any depositor, provided that is soon as the records it are in his hands. He said that every would be mailed an abridged copy of the report. E. M. state bank examiner, expressed his in not being able attend because of engagement in Miami. He made an explanation of the present situation as follows: "Dividends depositors are pendent on collections made by the receiver outstanding indebted ness of the Fort Lauderdale Bank & Trust several Miami banks must be first liquidated in order of collateral regain pledged to secure the loan. The the law, have 12 positors, under months which to prove up their hoped the receiver claims, but will be getting all that dividend can claims be paid earlier than the 12 months required by law.' Freeman, executive vice president of the Broward Bank Trust announced that the Co., receiver, statement of defunct bank has been completed and placed in the mails. It must Amos for approval before being made public, he said.
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DEFUNCT BANK ISSUED TODAY Broward Bank And Trust Mails Report On Conditions DIVIDEND DATE When Receiver Was On March 5 The Cash Was $10,889.09 The first statement of Broward Bank and Trust Co., receivers, concerning the condition of the defunct Fort Lauderdale Bank and Trust Co. the was put mails to be sent positors this morning. will be this time, the receivers stated, determine which dividend first interest safeguard fully the creditors to pay dividend the possible Cash in the bank, 1928, pointed, to cording to the statement. and the depositors follow: Assets 486.84 April Bonds, March Stocks, April $10,826.40. Banking April $170,724.18. Furniture March April Real Estate Unearned Discount Returng March Interest March April Expenses, March April from Banks, March April Sundry Collections, March April None. Cash March 14. Total, March Liabilities Capital March April 16. Surplus, March $125,000; April March $10,795.02 for Losses, April 19. March April Surplus Bonds, March 21. March $1,613,862.90; April 22. March April $118,624.96; 624.96. 24. Cashier's Checks, March April(2, March April $8,360.38. 26. Bank Drafts March 27. Key Deposits, March April $146.50 28. Trust Funds, March April 29. March April $86,910.83. Bills Payable. March 500.00; April March 000.00; April $5,000.00. Total, March April This the first opportunity have had, as Receivers for the (Coatinued on Page
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ALLEGATION DEPOSITOR GROUP Vincent C. Giblin Named In Petition Asking Aid Of Governor NAME ANOTHER OFFICIAL Document' Specifies Connected With Criminal Prosecution Allegations involving cent C. Giblin, judge of the Twenty Second Judicial Circuit, in financial transaction with defunct Fort Lauderdale Bank and Co., were made today in petition sent Governor John Martin by the Fort Lauderdale Bank and Trust Co. Depositors Protective which aid the Governor's office in investigation some the the First National Fort Lauderdale Bank and Trust which alleged violation statutes. copy of Amos, the Broward Bank Trust Co., McCune, Casey, ing attorneys the reciver, also Governor Martin. The Governor's attention called allegations made the petitions that apparently many irregularities and state of Florida been the officers and directors defunct Fort Lauderdale Bank Trust Co., and that an investigation of the matter far been vented blocked by those in charge the affairs of the defunct bank. The governor's especial attention called by Attorney Lockhart, the Depositors' Protective to the latter part of paragraph petition, follows: probably some of the transactions both First National Bank the Fort Lauderdale Bank and Trust and that that has do with criminal prosecution Broward county, owed bank note $3,000; that party voluntarily this account of $3,000 was settled for $300, and petitioners believe, cash ment, but the note note of $300 received. petitioners charge that this party, official, party and that this $3,000 not doubtful that the reduction in any amount whatsoever. further seek the aid of your office view of the fact that circuit judge, Hon. Vincent Giblin, and vised and with the officials and directors both the First National Bank and Fort derdale Trust etc., certain transactions and doings said institutions and further that, after the closing the doors the Fort Bank Trust known that the that the judge officer director the funct Fort Lauderdale Bank and Trust get check cashed by the bank for order to practically all, his money out the defunct institution." The official named in the precedthe Judge Giblin, Attorney Lockhart said. Another direct allegation in the petition comptroller paragraph the petition, which charges that Camp, vice presicashier of the bank, the dead of the about 1928, forwarded the city notes the Fort Lauderdale Bank Trust aggre$77,673.89, which Mr. Camp in with view the preference creditor to which and void, and which notes, bills receivable and from vaults Lauderdale Bank Trust delivered to the the Fort Lauderdale dead night and after been officially determined by the direcbank the the morning of sixshould be returned the the receiver.' they returned, proper should be had once the same the Fort Lauderdale enjoined from attempting the notes torney declared. This action, was stated, taken by Mr. Camp after formal resolution been directors Fort Lauderdale Bank and Trust that bank opened the February 16. Camp and president Fort Lauderdale Bank Broward Bank and Trust Co., Continued on Page
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Depositors Seeking Aid of Governor in Bank Investigation FORT LAUDERDALE July 5.(A.P.)-"A charge that an officer and director of the defunct Fort Lauderdale Bank and Trust Company enabled a prominent depositor to cash a check and thus withdraw his funds after the bank closed its doors last Feb. 16, was. made by the depositors' association of the bank in a petition mailed today to Gov. John W. Martin. Governor Martin's aid is sought in thorough investigation of the bank's affairs. The petition carried a copy of a petition mailed to Comptroller Ernest Amos several days ago asking the dismissal of the Broward Bank and Trust Company as receiver for the defunct bank. The petitioners, today's communication to the governor states, are informed that certain officials connected with criminal prosecution in Broward county owed the bank or receiver a note for $3000, and that they were voluntarily approached and the account settled for $300, for which a note in that amount was in settlement.
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DEPOSITORS OF BANK ASK MARTIN'S HELP Accusations Made By Fort Lauderdale Group In Petition To Governor. [BY THE ASSOCIATED PRESS.] FORT LAUDERDALE, Fla., July 5. A charge that an officer and director of the defunct Fort Lauderdale Bank and Trust Company enabled prominent depositor to cash check and thus withdraw his funds after the bank closed its doors last February 16 was made by the Depositors' Assoclation of the bank in petition mailed today to Gov. John W. Martin. The governor's aid is sought in thorough investigation of the bank's affairs The petition carried copy of petition mailed to Comptroller Ernest Amos several ago asking the dismissal of the Broward Bank and Trust Company as receiver for the defunct bank. The petitioners, today's communication to the governor states, are informed that certain officials connected with : : inal prosecution in Broward county owed the bank receiver note for $3,000. and that they were voluntarily approached and the account settled for $300. for which note in that amount was in settlement.
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Receiver Bank Should Be Given Chance In other columns this issue comptroller Fort Daily denying authority small printed State Comptroller minority of group to the petition the the affairs the bank Lauderdale Bank Trust Co. make the business and banking positors Protective practically every individual manding the dismissal the corporation Broward county bank and the receiver bank which might torneys, and requesting bandied about the streets audit the books of the defunct city. It to be readily stitution. such could easily State Comptroller Amos has financial many the affairs individuals and number of local the closed Fort Bank business Trust Co. and the First From all information obtainable Bank. the instance of the the Daily News the Broward positor's Protective committee Bank Trust present recently had special examination ceiver, one of the strongest bankmade with view determining ing in all Florida. The the truth the various charges stock held by men of wide allegations made, shown affairs worth many millions his letter. These charges he dollars. These men believe clared, were proved be Fort Lauderdale and believe The the them. The has Bank and Trust believes that effect liquidating the affairs of the affairs of two banks, the Fort closed bank, under the supervision derdale State Bank and the First the comptroller, and wisely National Difficulties of receiver are The fact that the Fort Lauderand Bank and Trust Co. closed comptroller, by his letter, doors cannot be charged to the confidence the receiver ceiver. The is making the and its attorneys. This matter best its opportunities been and hand, turned streets. Now that the highest the State Banking Departthority of the state, the predict from information made thorough and careful our possession that the receivof charges made, the continues to liquidate the affairs Fort Lauderdale Daily News the bank the future has opinion that the depositors the past, that before 12 months should accept the verdict and find- elapsed the depositors will ings of the state comptroller abundantly gratified and satisfied the results of its labors Daily News does not believe We know and disthe mat- follow in the will result in any good any period depression. feel that depositors, but that the other matter has gone far enough hand doing great damage, not that the receiver should be given only the depositors but to the ample opportunity to perform community. In the opinion duties.
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LAUDERDALE BANK AND RECEIVER SUED MIAMI DAILY NEWS BUREAU Fort Suit to establish preferred claim bankrupt. was filed in Broward cirenit court Wednesday by the Central Farmers Trust Co. West Palm Beach. naming the bank and Brow ard Bank & Trust Co., its receiver and It was said in the bill that an arrangement existed between the two banks. whereby checks drawn upon the Fort Landerdale Bank & Trust Co. could placed with the West Palm Beach bank for collection. and by the mail to the Fort Landerdale Bank & Trust Co., and cash and currency remitin return by mail. $565 thus sent ot the Fort Landerdale bank by the West Palm Beach bank on Feb. 13 of last year, it is claimed. and the Fort Landerdale bank returned draft on the Union Trust Co. of Chicago, but the Chicago bank was reported suspended and the draft was not honored. according to the bill. Again on Feb. 14. checks for $2,209.16 were sent the bank, but meantime the Fort Lauderdate bank had been declared insolvent.
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DEPOSITORS WILL GET 50 PER CENT PAYMENT Lauderdale Bank Receiver Makes Statement Regarding Condition of Institution. [HERALD BUREAU.) FORT LAUDERDALE, Fla., June 12. Eventual payment of dividend of at least 50 per cent to the depositors and creditors of the Fort Lauderdale Bank and Trust Company was assured by officers of the Broward Bank and Trust Company, receiver for the failed bank, in statement issued today While the receivers were unable to state just when the first dividend would be paid or what the amount would be, they did bring out the fact that accumulation of only 000 additional cash will be necessary before all preferred claims were paid. The statement issued today was the first made public since the last printed report was made February 15, 1929. The officers asserted that if it had not been to pay the large note of $562,500 owed by the failed bank. a total of dividends of 30 per cent fore this or more could have been paid betime.
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BROWARD PLANT OF BANK DRAWS TWO MORE BIDS Both Offers in Excess of That Recently Made for Same FORT July offers for the purchase of the building, fixtures and site of the closed Fort Lauderdale Bank & Trust Co. in excess offered by the Broward Bank & Trust Co., have been received and today were turned over to the liquidator. The Broward bank. former receiver for the closed bank and present agent the made the offer $47,000 for the property, but protest made by number depositors that the amount too small, the Broward bank asked to be released from its Ernest state comptroller. took the matter of release under advisement for 10 days. enable others to make any "better offers. Irvin S. Hornbeck. offered $50,000 cash for the build ing and and Alexander Gordon Co. of Portland. Maine. bid obligation. city of Fort Lauderdale per bonds, it announced by the offers turned over to E. P. Duncan, liquidator.