Bank of Coconut Grove (Coconut Grove, FL)

Episode Information

Episode UID
63034571519
Episode Type
Suspension โ†’ Closure
Bank Type
state
Bank ID
6303457 routing
Routing Number
63-0345
Start Date
July 2, 1926
Location
Coconut Grove, Florida (25.713, -80.257)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
833aea1a0227a4db

Response Measures

None

Description

Sources state the bank failed to open for business and decided to suspend, but no clear follow-up or receivership is reported.

Events (1)

1. July 2, 1926 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closings and heavy withdrawals at nearby suburban Florida banks and reported bad loans prompted the institution to suspend operations.
Newspaper Excerpt
The Bank of Cocoanut Grove ... failed to open for business
Source
newspapers

Newspaper Articles (13)

Article from The Plain Dealer, July 3, 1926

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Florida Financial Concern Closes Doors, Another Weathers Heavy Run. local operations, Dania closed and bank heavy withdrawal funds today. The Bank of Coconut Grove and the of Buena failed for the Bank Little River closed run The Bank distance from similar and ceased shortly At the same time the of short disnorth of this city in Broward withstood a brief run. of Buena Vista and the of made the following bank has decided to suspend for the present and will not open for business It is actuated in this course desire its and to protect its depositors to the fullest Local citizens now on nounce the details institution for speedy liquidation and to relieve the situation. of Little River, through B. Teed 'In the we feel advisable and desirable to suspend for the present. The sound and in good shape. do not the depositors will lose a dollar. President T. Parker of the after closing that readjustment would be made that would enable the bank to reopen shortly and meet all The run bank of Hollywood precipitated after receipt of of previous bank closings, but was met through the receipts of funds from banks. The run shortly after noon funds sufficient to every deposit.


Article from The Alaska Daily Empire, July 3, 1926

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FOUR FLORIDA BANKS CLOSED MIAMI, Fla., July 3.-The bank at Cocoanut Grove, bank at Buena Vista and bank at Little River 'have closed. The bank at Hollywood stood the run made this forenoon. The Miami clearing house is blamed for the failures as outside interests control the paper. FORT LAUDERDALE, Fla., July 3. The City Bank failed to open its doors this forenoon.


Article from Asheville Citizen-Times, July 3, 1926

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THREE BANKS SUSPEND Hollywood Bank Weathers Heavy Withdrawal Of Funds MIAMI July banks suspended operations financial institution Dania closed Its doors and Hollywood bank heavy drawal of funds today The of Grove the Bank of Buena failed to for and the Bank of after of an bank Miami. similar with of and ceased operations shortly before noon the same time. Bank Holly also short north of this brief The Bank of Buena Vista and the made the following "The bank has decided to for present and will therefore, not business today. It actuated in this cause by desire to and depositors the Local plan and will the tails in few organize locally for speedy liquidation and to relieve the The of Buena Vista opened capital of $15,000 raised $50,000. Officials declined present deposits for either The Bank Cocanut Grove opened in March 1920 $15.On March 10. the of $30,000 and totalling Bank Little River, through President B. Teed announced: we feel it advisable and desirable suspend operations for the present. The bank is and We of cash in vaults and 40 per do not think the depositors will dollar. He intimated his intention of effecting an President Parker of the of Dania, announced Immediately that adjustment be made that would enable the to reopen shortly and meet all The run on the Bank of Hollywood precipitated after reecipt of funds from Miami banks The run shortly after noon they had funds sufficient to cover George Romfh of the Miami Clearing House in commenting on the suspension of three suburban banks, declared that and loan. on sible for the embarrassment.


Article from Leader-Telegram, July 3, 1926

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RUNS CLOSE THREE BANKS AT MIAMI July local banks suspended operations, financial institution Daniel closed its doors and Hollywood bank weathered heavy withdrawal of funds today. The bank of Coconut Grove and the bank Vista failed for business and the bank of tle River closed hour's duration bank Daniel, short distance suffered similar withdrawand ceased operation shortly before noon. the same time the bank of also short north of this city withstood brief


Article from Chicago Tribune, July 3, 1926

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BAD LOANS CLOSE 4 STATE BANKS IN SOUTH FLORIDA Miami, Fla., July local suspended operations, financial institution at Dania closed its doors, and Hollywood bank weathered heavy withdrawal of funds today. The bank Coconut Grove and the Bank Buena Vista failed open for business, and the Bank of Little River closed after run an hour's duration. The Bank of Dania suffered similar withdrawal funds ceased operations shortly before noon. At the same the The Bank of Buena Vista and the Bank of Coconut Grove they actuated in closing by desire its and to its to the fullest The Bank of Little River announced that sound and in good shape, and that had in excess of in cash in vaults reserve The Bank Dania that readjustment would be made that would enable to reopen. President George Romfh of the Miami clearing house, in commenting on the suspension of three suburban banks, declared outside control and loans paper solely responsible for the


Article from The Owensboro Messenger, July 3, 1926

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FLORIDA BANKS CLOSE DOORS IN SUBURBS Fifth One At Hollywood Weathers Day of Heavy Withdrawals; Deposits Are Not Announced. Miami, Fla., July local banks suspended operations, financial institution at Dania closed its doors and a Hollywood bank weathered heavy withdrawal of funds today. The Bank of Coconut Grove and the Bank of Buena Vista failed to open for business and the Bank of Little River closed after run of an hour's duration. The Bank of Dania, short distance from Miami. suffered a similar withdrawal of funds and ceased operations shortly before noon at the same time the Bank of Hollywood also short distance north of this city, Broward county, withstood brief run. The Bank of Buena Vista and the Bank of Cocoanut Grove, allied institutions, made the following separate "The bank has decided to suspend operations the present and will, therefore not open for business today. It is actuated in this cause by desire to conserve its resources and to protect its depositors to the fullest extent. Local citizens now are working on plan, and will announce the details few days organize locally controlled institution for


Article from The Huntington Press, July 3, 1926

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SALOON LEAGUE SPENT SEVEN MILLIONS IN 22 STATES TO AID PROGRAM ASHINGTON, July of more than $7.000,000 by the Anti-Saloon League in 22 states during the past six years were disclosed by additional reports filed today with the senate campaign funds committee by Wayne B. Wheeler, counsel for the national dry organization. These states include New York, Maryland and Rhode Island, which alone have no local dry enforcement statues, as well as Pennsylvania, Illinois, Indiana, Wisconsin, Iowa, Missouri and Kentucky. While the state organization contribute certain of a part their income to the national Anti-Saloon league, it was deWANT UNIFORM veloped from Mr. Wheeler who occupied the stand nearly five hours, that both the national PENSION LAWS and state do their own financing independent of Teachers Approve Demand each other. at National Education Accountants who audited books of the Convention tion at Westerville, Ohio, had furnished July Senator Reed, Democrat, Missouri, National Educational Association, in the chairman with those who conthe closing moments its annual conventributed more than $500 to parent but Wheeler tion, today inaugurated campaign organization, Mr. objected to the names being made pubile. obtain uniform pension laws for teachAsks Reasons ers. This action was taken by the rep "Well, you can state your reasons resentatives' assembly in approving the snapped Senator Reed. report of Miss E. Pyrtle, Lincoln, "Wheeler insisted he would like present the matter to the whole com- Neb., chairman of the committee of 100 mittee the chairman announced the problem retirement allowances. decision would be deferred. The association adopted resolution Wheeler presented also number affirming its faith in the value of other reports, including one from Andrew Wilson, treasurer of the league's petitive athletic sports campaign committee, showing expendibelief that public recognition tures since should be given distinguished achieveOctober 1924. This did not include ments in scholarship as to avoid the expenditures primaries. giving athletics first place After concluding his examination in school life." Senator Reed announced the committee would seek further light the activities dry organization tomorMIAMI BANKS from Dr. Ernest H. Cherrington its general secretary and meantime would inquire tonight in its "campaign chest" raised the Republican and Democratie national committee for the atorial and congressional fights year. Senator Reed subjected Mr. WheelOne at Davia Also Shuts long and examination. Loses Patience Doors in Face of Big The chairman several times lost tience length of the replies and Run finally exclaimed "Now listen here, Doctor, when man flat statement in front your banks finanand quibble about time institution Dania closed its doors for even patient man bank weathered heavy patience You are going funds today. questions and answer them without The bank of Cocoanut Grove and the making speeches if have to stay bank Buena Vista failed until the snow flies" business and the bank Little River I'm ready to stay here," Wheeler retorted The dry leader said closed after run The bank Dania, short distance from Miami, the organization had spent in Pennsylvania suffered similar withdrawal of funds money during the $3,000,000 ceased operation shortly before noon. ent Republican primary contest because dry leaders had been the same time the bank of brief run. to agree candidate oppose Representative William Vare, The bank of Buena Vista and the bank avowed who defeated Governor Pin- Cocoanut Grove, allied institutions, chot Senator Pepper, both counted made the following announcethe dry side. ments: Denies Writing Act Makes Announcement. Wheeler denied he had written the bank has decided to suspend celebrated Volstead act and picked Vol- erations for the present and will stead to champion the measure in for business today. actuated gress. Declaring that the dry organiza- by desire to conserve its tion was willing quit the fight before resources protect its depositors congress prohibition question if the the fullest extent. Local citizens wets would. said, working and will announce stay here the Volstead act would the details days to organize wiped locally controlled institution for speedy Senator Reed then wanted to know liquidation and to relieve the situation." what league President Parker the bank exerted in appointment of enforcement Dania announced after closing that officers. Wheeler conceeded that the re-adjustment would be made that would league enable the bank to re-open shortly and interfere with the appointment all obligations. meet these asked. run on the bank of Hollywood was interfere when think there precipitated after receipt of news of the effort across crooked put previous bank elosings, but was met the dry leader retorted with show the funds from Miami through receipt The subsided shortly after Then Senator Reed read into the series letters touching the services Representative Upshaw, Democrat, Georgia. These showed that Upshaw sought $75 for delivery speech 1924. but finally to deliver the address for plus taxi Chairman made matter record that Pearson Hobson, member the house and hero the Merrimac sinking Santiago the Spanish war received $171,249 league from 1914 to 1922 and that the late Williams was for lecturing for the league 1010. find that Willis drew the year 1919" Reed pursued. "Is that Wheeler replied, adding that this was before Willis was elected the senate.


Article from Standard-Speaker, July 3, 1926

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FOUR FLORIDA BANKS CLOSED THEIR DOORS MIAMI, Fla., July 2. (AP)-Three local banks suspended operations, a financial institution at Dana closed its doors and a Hollywood bank weathered a heavy withdrawal of funds today. The Bank of Cocoanut Grove, the Bank of Buenavista, the Bank of Little River and the Bank of Dania were the ones to cease operations. The run on the Bank of Hollywood was precipitated after weceipt of news of the previous bank closings, but was met through the receipt of funds from Miami banks.


Article from The Virginian-Pilot, July 3, 1926

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DOORS ARE CLOSED BY THREE FLORIDA BANKING HOUSES Hollywood Bank Withstands Run With Miami Banks' Aid; Statements Optimistic Miami, Fla., July local banks operations, financial at Dania closed its doors and Hollywood bank weathered heavy withdrawal funds today. The Bank of Cocoanut and Grove, the Bank of Buena Vista open for business and the Bank Little River closed after The of short distance from suffered similar withdrawal of funds and ceased shortly before At the same time the Bank of Hollyalso short distance north of this city, withstood brief run. The Bank of Buena Vista and the Bank of Cocoanut Grove, allied institutions, made the following separate "The bank has decided to suspend operations for the present and will, therefore, not open for business day. It actuated in this cause by desire its to protect its to the fullest extent. Local citizens are work. on and will announce the details in few days to organize locally controlled Institution speedy liquidation and to relieve the The Bank of Buena Vista opened October 1920, with capital which had been raised The officers Anthony, of and John Officials announce for The Bank Grove opened with $15,000 On March 10. the $30,000 and deposits Anthony headed board of directors with A. Sanders president. The Bank of Little River through operations the The bank sound excess $200,000 vaults and than 40 the lose He his of Parker, after closing that be made that enable bank reopen shortly and meet all the Bank of was the previous bank was met through receipt of funds from Miami The run sided shortly after noon they had funds ficient cover of suspension three


Article from Ledger-Enquirer, July 3, 1926

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BANKS THREE MIAMI CLOSE DOORS FRIDAY MIAMI, Fla., July local suspended operations, a financial institution Hollywood at Dania closed bank weathered its doors and heavy withdrawal of funds The today. Bank of Cocoanut Grove and the Bank of Buena Vista failed to for business, while the bank of Little River closed after determined run of an hour's duration. The Bank of Dania, suffered similar withdrawal of funds before and ceased noon the operations same time shortly the bank of Holly wood, both short distance north of this city in Broward county, withstood The Bank brief of run. Buena Vista and the bank of Cocosnut Grove, allied institutions made the following separate "The bank has decided to suspend operations for the present and will, therefore, not open for business today. It is actuated in this cause by desire to conserve its and to protect its to the fullest extent. Local citizens now are working plan, and will announce the details in few days to organize locally controlled institution for speedy liquidation and to relieve the The Bank of Buena Vista opened on. October 1920, with capital stock of $15,000 which has been raised subsequently to $50,000. In July 1925. when deposits totailed $1,500,000 the bank started work on its $100,000 building The efficers included, R. Anthony of Jack. sonville, and Grice, vice president. Officials declined to announce present deposits for either institution The bank of Cocoanut Grove opened in March, 1920, with On March 10 the $15,000 bank capitalization Anthony was man the board of directors, with The Bank Little River, through the circumstances, felt advisable and desirable to suspend The operations for the bank sound in good shape. We have in excess of $200,000 cash in our vaults and reserve greater than forty per cent. not think the depositors lose dollar He intimated his intention of affecting an early reorganization.


Article from The Daily Oklahoman, July 3, 1926

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FIVE FLORIDA BANKS TOTTER Three in Miami and One In Dania Suspend: Another Withstands Run. MIAMI, Fla., July local banks suspended operations, financial institution at Dania closed its doors. and a Hollywood bank weathered a heavy withdrawal of funds Friday, The bank of Coconut Grove and the Bank of Buena Vista failed to open for business and the bank of Little River closed after a run of an hour's duration. The bank of Dania, short die tance from Miami. suffered a etmllar withdrawal of funds and ceased operations shortly before noon. At the same time the bank of Holly. wood, also a short distance north of this city, in Broward county, with stood a brief run. The bank of Buena Vista and the bank of Coconut Grove, allied Institutions, made the following separate announcements: "The bank has decided to suspend operations for the present and will therefore not open for business to day. It is actuated In this cause by desire to conserve Its resources and to protect its depositors to the fullest extent." Pres. 1. T. Parker of the bank of Danta announced Immediately after closing that a readjustment would be made that would enable the bank to reopen shortly and meet all obligations. The run on the bank of wood precipitated after receipt of news of the previous bank closings, but was met through receipt of funds from Miami banks. Pres. George Romth of the Miami Clearing House association declared that outside control and loans on outside paper solely were responsible for the embarrasement.


Article from The Anderson Herald, July 3, 1926

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FLORIDA BANKS ON FRIDAY CLOSED Three Miami Institutions and One at Dania Suspend. MIAMI, July banks suspended operations, financial institution Dania closed its door and Hollywood bank weathered heavy drawal of funds today The bank of Cocoanut Grove and bank Buena Vista failed and the bank business River closed after run bank Dania, hour from Miami, suffered similar withdrawal funds and shortly before operations time the bank the brief Hollywood withstood Buena Vista the bank bank of Cocoanut Grove, allied inmade the following arate has decided to bank pend for the will not open for business today actuated in this cause by resources desire protect its the Local citizens fullest extent. and will working plan the details few announce organize locally stitution for speedy Hevidation and relieve the President Parker, of the bank of Dania, announced closing that readjustment would would enable the made that bank to reopen shortly and meet all obligations Natural galts of all horses the trot and canter An airplane that will carry 100 passengers is being built Gold mining conducted Spain in the days of the


Article from Detroit Free Press, July 3, 1926

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BANKS CLOSE, 'RUN' ON FIFTH Florida Institutions Face Crisis; "Readjustments" Are Announced. Miami, Fla., July the AsPress local banks suspended a financial institution at Dania closed its doors and a Hollywood bank weathered a heavy withdrawal of funds today The Bank Cocoanut Grove the Bank of Buena Vista failed open for and the Bank of Little River closed after run of an hour's duration. The Bank of suffered similar withdrawal of funds and ceased operations shortly before noon. At the same time the Bank of also short distance from this city, withstood a brief Make Statements. The Bank of Buena Vista and the Bank Cocoanut allied the following arate bank has decided to suspend for the present and therefore not open for business day. in this by desire and to its the citizens are working and the details days organize tution speedy liquidation and re The Bank of Buena Vista opened October with stock had present deposits for either The Bank Cocoanut Grove March March 10 the bank announced and deposits Has $200,000 Reserve. The Bank of Little River the feel advisable pend sound good have excess of and reserve than 40 President Parker of after closing that would be made the bank reopen shortly and meet the Bank receipt news of receipts funds Romfh of the Clearing suburban control solely ble for