Biscayne Trust Company (Miami, FL)

Episode Information

Episode UID
63037271566
Episode Type
Run → Suspension → Closure
Bank Type
trust
Bank ID
6303727 routing
Routing Number
63-0372
Start Date
June 11, 1930
Location
Miami, Florida (25.774, -80.194)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ab506f74eaacbed2

Response Measures

None

Description

Closed June 11, 1930 after heavy withdrawals; later liquidation/receiver actions follow.

Events (3)
1. June 11, 1930 Run
Cause
Rumor Or Misinformation
Cause Details
Heavy withdrawals driven by unfavorable talk and public uneasiness (runs) against the bank and affiliates.
Measures
Additional cash ($2,000,000) rushed by airplane from Federal Reserve and state banking officers issued reassuring statements.
Newspaper Excerpt
statement by directors of the bank attributed the closing to recent substantial withdrawals.
Source
newspapers
2. June 11, 1930 Suspension
Cause
Rumor Or Misinformation
Cause Details
Directors, after consultation with state comptroller, kept the bank and affiliates closed to protect depositors following heavy withdrawals and adverse talk.
Newspaper Excerpt
failed to open for business Wednesday; decided not to open this bank and its affiliated institutions ... in order to protect all of our depositors
Source
newspapers
3. May 20, 1931 Receivership
Newspaper Excerpt
Appointment of receiver for the Bank of Bay building be asked ... suit filed ... to foreclose $900,000 ... naming of Dr. Therrell as liquidator for the Bank of Bay Biscayne, liquidator for the Biscayne Trust Co.
Source
newspapers

Newspaper Articles (18)
1. June 11, 1930 St. Louis Post-Dispatch St. Louis, MO
Article from St. Louis Post-Dispatch, June 11, 1930

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HEAVY ON Bay of Biscayne, Oldest pository in City, Fails to Open Forcing Affiliated Group Shut. $2,000,000 IN CASH SENT BY AIRPLANE Reserve Governor More Is Being Totals Announced. By the Associated Press. MIAMI, Fla., June The Bank of Bay Biscayne, with deposits of $15,037,198. as of March 27 statement, and three affiliated depositoories, failed to open for business today. statement by directors of the bank attributed closing to "recent substantial The affiliated banks the Biscayne Trust the Miami Beach Bank Trust and the Bank of Coral Gables. The Bank of Bay Biscayne in its quarterly statement showed posits and total sources man is president of the bank. The Bank of Bay Biscayne is Miami's oldest bank. It has one of the finest buildings in the structure. Resources of Other Banks. The Biscayne Trust Co. had deposits and The Miami Beach Bank Trust Co. had deposits of 943 and resources of The Bank of Coral Gables, the third of the affiliated had deposits of and sources of Romfh, president of the First National Bank, said that left by plane today from the Federal depository He said the First National Bank and its has on hand to pay all depositors, if necessary. Depositors were orderly as they made during the morning from other banks of the and suburbs. from other banks here up to the closing time were made orderly fashion. Bank of. ficials and available funds not by Plane. E. president of the First National Bank, said Laurie Yonce, Jacksonville pilot, had landhere shortly after with in cash which he brought from the Federal depository in Hugh H. Gordon president the City Bank, said that approximately $350,000 had been withdrawn from his bank up m. and that the doors of the depository would be kept open as long depositors Romfh said 000 had been withdrawn from the First National Bank today. telegram signed by Black, governor of the Federal District in was postin the window of the Third National Bank which shid was route to Miami banks. 10,000 Depositors Affected. depositors in Miami, Miami Beach and Coral Gables were affected by the bank closings. President Gilman of the Bank of Bay Biscayne said: of the directors this after consultation with the State Comptroller, decided not open this bank and tions, the Biscayne Trust Co., Beach Bank Trust Co. and the Bank Coral order to protect all of our depositors to the fullest extent. decision was made after due consideration was due to substantial Arthur Saarinen, bank iner, charge the bank. The bank's include loans and discounts amounting to and securities and commercial and bonds valued at June The Bank of Homestead closed doors this morning today after opening short time. AssistCashier H. Grady Smith said the bank was in condition good and that of business suspension but temporary, avoid account of bank failures today Miami. He said the bank pects to open few days. Reserve Governor Is Being Sent Miami. June Black, of district the Bank, said today that being Continued on Column

2. June 11, 1930 Lexington Herald-Leader Lexington, KY
Article from Lexington Herald-Leader, June 11, 1930

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FIVE BANKS IN CLOSE Miami Institution And Three Of Its Subsidiaries Hurt By Withdrawals MIAMI. Fla June 11 (AP) The of Bay Biscayne, with deposits of and three affiliated fiinstitutions, failed to for today. statement by directors of the bank attributed the closing to "recent substantial withdrawals.' The affiliated banks were the Biscayne Trust Company, the Miami Beach Bank and Trust Company and the Bank of Coral of Bay Biscayne in its quarterly showed of $15,037 198 and total resources of J. H. Gilman is president of the bank. The Bank of Bay Biscayne is Miami's oldest It has one of the finest buildings in the city, structure in 1925. HOMESTEAD BANK CLOSES HOMESTEAD, Fla., June 11 (AP) The Bank of closed its doors today after opening for short time. was made by Assistant Cashier H. Grady Smith saying the was in good condition and of business was but tempororaly taken for the of local bank on account of bank failures today in Miami. Smith said the L nk expects to open in few days.

3. June 11, 1930 The Atlanta Journal Atlanta, GA
Article from The Atlanta Journal, June 11, 1930

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BISCAYNE BANK, OLDEST IN MIAMI, CLOSES ITS DOORS Statement of President Blames Heavy Withdrawals for Action MIAMI, Fla., June 11.-(P)-The Bank of Bay Biscayne, with deposits of $15,037,198 as of the March 27 statement, and three affiliated financial institutions. failed to open for business Wednesday statement by directors of the bank attributed the closing to "recent subwithdrawals. The affiliated banks were the Biscayne Trust Company, the Miami Beach Bank & Trust Company, and the Bank of Coral Gables. The Bank of Bay Biscayne in its last quarterly statement showed deposits of $15,037,198 and total resources of Gilman, president of the bank said today: meeting of the directors Wednesday morning after consultation with the state comptroller, it was decided to open this bank and its affiliated institutions the Biscayne Trust Company, Miami Beach Bank & Trust Company, and the bank of Coral Gables, in order to protect all of our depositors to the fullest extent. "This decision was made after due consideration and was due to recent substantial withdrawals. Arthur W. Saarinen, bank examcharge of institution. The Bank Bay Biscayne was Miami's oldest bank. It had one of the finest buildings in the city, $400,000 structure erected in 1925 and now carried in its books at a valuation of $390,000. Among its resources are loans and discounts amounting to $7,478 458; and commervalued at cial paper and bonds $5 The Biscayne Trust Company had $1,520,041 deposits resources. The Miami Beach Bank and Trust Company had deposits of 349,943 and resources of $2,539,281. The Bank of Coral Gables, the third of the institutions had deposits of $606,598 and of $743,759 C. Romfh, president of the First National Bank, said that $2,000,000 left Jacksonville by airplane at 9:30 m. from the Federal Reserve pository there. He said the First National Bank and its subsidiaries had money on hand to pay all depositors, if necessary. Depositors orderly as they withdrawals during the morning from other banks of the city suburbs. The Bank of Bay Biscayne was older than the city Miami It was established May 1896 days after the first train ran to the community that on July 28, 1896, was incorporated as the city of Miami. statement from C. Penney. chairman of the board of directors of National Bank, said sufficient funds were on hand to meet demands of all depositors in that institution Homestead Bank Suspends The bank of Homestead closed its doors at 10 m. Wednesday after opening for short time. Official announcement was made by Assistant Cashier H. Grady Smith that the bank is in good condition and suspension of business is but temporary taken for the purpose avoiding a local bank on account of bank closings Miami. Smith said the bank expects to open few days. Southern Textile Stocks Quotations M. Spartanburg Per Bid. Abbeville Cotton Cotton Mills Arcadia Mills pfd Augusta Factory Beaumont Mfg Belton pfd Mfg Corporation B Corporation pfd Co (Pa Mills Chesnee Co Mfg Darlington Co Drayton pfd Enterprise Mfg Co pfd Gainesville Cotton M Ga Gossett Greenwood 400 (Par Hartsville 130 88 92 Cotton Mills Mills Lancaster Cotton Serial Marion Mfg Mill pfd Musgrove Mills Cotton Mills. Cotton Pacolet 100 Cot $60) Mills Mfg Piedmont Piedmont Riverside (par 15 Riverside River Mills pfd Sibley Bleach Franklin Franklin pfd Worsted Corp pfd Spartan Mills Notes 100 pfd Wallace Sales. High Close P Westph Yokohama same year same years ago, $1,558,643,000.

4. June 12, 1930 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, June 12, 1930

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FOUR BANKS At Miami Are Closed. Action Affects About 10,000 Depositors In District. Cheboygen, Michigan. Institution Is Taken Over By State After Suicide Of Officer. Miami, Fla., June 11-(AP)-The Bank of Biscayne and three affiliated financial institutions failed to for business today. A statement by Directors the attributed the closing to "recent substantial withThe affiliated banks the Biscayne Trust Company. the Miami Beach Bank Trust Co. and the of The Bank of Bay Biscayne in its of $15,037 198 and total of $17,182,292. J. H. Gilman is President the bank. The Bank of Bay Biscayne is Miami's oldest It has one of the finest buildings in the city, a structure erected in 1925. The Biscayne Trust Company had $1,520,040 deposits and $1,962,148 resources The Miami Beach Bank Trust Co. had deposits of $2,349,943 and The Bank of Coral Gables. the third of the affiliated had deposits of and of in Miami Beach and Coral Gables were affected by the closings. Atlanta. June 11-(AP)-E. P.. Black. of the Atlanta Federal Bank. said today that $6,000,000 was being sent into Miami from the Jacksonville branch of the Federal reserve. This money. he said. would be available to all Miami banks that are members of the Federal Reserve. Homestead, Fla., June 11-(AP)The Bank of Homestead closed its doors today after opening for short Cheybogan, Mich., June The First Bank of Cheyboyan closed its doors today with of $308,000 shortage In savings the manager of which. Clyde Milliken. 44, committed suicide Monday night. The bank closed and placed in the hands of Henry F. Quinn. Examiner. on orders of the Board of Di. rectors, who issued predicting that all depositors will be paid full. The savings department of the bank was unusually large for an institution of its size, the last statement reporting deposits $866,860. compared to $230,100 subject to The was said to have resulted from covering period of several years. Vineland, N. J., June 11-(AP)-The Trust Company was taken over today by the State Commissioner of Banking and Insurance to The company did not open for business today.

5. June 12, 1930 The Sioux City Journal Sioux City, IA
Article from The Sioux City Journal, June 12, 1930

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FOUR BANKS IN FLORIDA CLOSE Miami Institution and 3 Branches Fail to Open Doors Miami, Fla.-(P)-The Bank of Bay Biscayne, with deposits of $15,037,198 as of the March 27 statement, and three affiliated financial institutions, failed to open for business Wednesday. A by directors of the bank attributed the closing to "resubstantial withdrawals.' The affiliated banks were the Biscayne Trust company, the Miami Beach Bank and Trust company, and the Bank of Coral Gables. The Bank of Bay Biscayne in its quarterly statement showed deposits of $15,037,198 and total resources of $17,182,292. J. H. Gilman is president of the bank. The Biscayne Trust company had $1,520,040 deposits and $1,962,14 resources. The Miami Beach Bank and Trust company had deposits of 943 and resources of $2,539,281 The Bank of Coral Gables, the third of the affiliated institutions, had deposits of $606,598 and resources of $743,759 Money Sent by Airplane E C. Romfh, president of the First National bank, said that $2,000,000 left Jacksonville by airplane Wednesday from the federal reserve depository there. He said the First National bank and its subsidiaries has money on hand to play all depositors, if necessary Depositors were orderly as they made withdrawals during the morning from other banks of the city and President Gilman said: "At meeting of the directors Wednesday morning, after consultation with the state comptroller, it was decided not to open this bank and its affiliated institutions, the Biscayne Trust company, Miami Beach Bank and Trust company and the Bank of Coral Gables, in order to protect all of our depositors to the fullest extent. "This decision was made after due consideration and was due to recent substantial withdrawals. Arthur W. Saarinen, bank examiner. has charge of the institution. The bank's resources include loans and discounts amounting to $7,478.458 and securities and commercial paper bonds valued at $5,368,497. Runs on Other Banks Withdrawals from other banks here up to the closing time were made in orderly fashion. bank officials said, and available funds were not E. Romfh, president of the First National bank, Laurie Yonce, Jacksonville pilot, had landed here shortly after 2 p. m. with $2, 000,000 in cash which he brought from the federal depository in Jack Hugh R. Gordon, Jr., president of the City National bank, said that approximately $350,000 had been withdrawn from his bank up to p. m (eastern standard time) and that the doors of the institution would be kept open as long as depositors remained. Mr. Romfh said approximately $500.000 had been withdrawn from the First National bank today telegram signed by E R. Black, governor of the federal reserve district in Atlanta. was posted in the window of the Third National bank which said 000.000 is en route to Miami banks. This total was believed locally to include the that came by airplane from Jacksonville Approximately 10,000 depositors in Miami, Miami Beach and Coral Gables were affected by the bank closings. $6,000,000 Sent to Miami Atlanta R. Black, governor of the Atlanta district of the federal reserve bank, said Wednesday that $6,000,000 was being sent to Miami from the Jacksonville branch of the federal reserve. This money, he said, would be available to all Miami banks that are members of the federal reserve. Mr. Black said $2,000.000 of the amount was sent from Jacksonville to Miami by airplane, and that $4,000,000 more was being sent "by mail.' Asked if any additional amount had been sent from the Atlanta depository of the federal reserve to Jacksonville, Mr. Black said the depository here "is continuously sending money to Jackjsonville, just as it does to the branches in Birmingham, Memphis and other southern Homestead Bank Closes of Homestead closed its doors at 10 a. m. eastern standard time, Wednesday after opening for a short time. Assistant Cashier H. Grady Smith said the bank was in good condition and that suspension of business was but temporary, taken for the purpose of avoiding a local bank run on account of bank failures in Miami. He said the bank expects to open in a few days.

6. June 12, 1930 The Brooklyn Daily Times Brooklyn, NY
Article from The Brooklyn Daily Times, June 12, 1930

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5 FLORIDA BANKS TO PAY DEPOSITORS $2,000,000 Arriving by Plane Allays Uneasiness. Miami, Fla., June 12.-The arrival of $2,000,000 in cash by airplane and several reassuring statements by State banking officers helped today to allay the uneasiness of depositors who had funds in five banks which closed here yesterday. One of the banking officials insisted the situation was not acute, and declared that the conditions which led to the closures would have adjusted themselves if there had not been unfavorable "talk," some of it by bankers themselves. The banks which closed were the Bank of Bay Biscayne, with resources of 182,292: the Biscayne Trust Company, with 1,962,148: the Miami Beach Bank and Trust Company, with $2,593,281: the Bank of Coral Gables, with $743.759. and the the Bank of Homestead. Local bankers said they were confident normalcy would be restored promptly when the public understood the cause of the heavy run made on the institutions. They had the assurance of additional aid from the Federal Reserve if it were needed, they said.

7. June 12, 1930 The Bellingham Herald Bellingham, WA
Article from The Bellingham Herald, June 12, 1930

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MONEY FLOWS IN FIRE LOSS IS HEAVY REGISTERED QUAKE Refineries of Texas Oil Company Are In Flames PORT ARTHUR. Tex., June 12.the refineries the Texas Company near here billows of sending flame and feet of the air and taking toll of life property. Starting undeterminer origin the plant, fire destroyed refining unit and vastated an eight blocks square Damage estimated at between $3,000,000. Hatch, died in hospital here today from burns when tanks of and exploded in the terrific heat. Eleven other were burned when flaming oil and for pitals. Another slight bruises. Physicians all the injured The fire started in of the one treating units, where, oil treated by chemicals, spread quickly to nearby structures. Employes were unable escape before the three tanks exploded. As uninjured employes clothing of the fire spread to the huge The oil-soaked ground and buildings caught fire easily, and the blaze spread 80 fast that feremen could not cope 200 feet away from the Employes and officials alike labored construct fire breaks keep the flames from spreading. was thought they had fire to the unit in which Damage to the refinery was mated K. Holmes, plant superintendent. An engineer the company that the loss might mount as high as before the The pumphouse, fertilizer plant, three tanks of oil and gasoline and six batteries of treating units were destroyed. Disturbance Believed Not Far From Puget Sound hour duration, which at 1:51 and was 'not far was described today seismoregistered graphs at the University of Washington. THREE SHOCKS REGISTERED earthquake were registered the St. Louis university today on Father Joseph Joliet The disturbances about miles distant. first 1,140 few The second. lasted 45 minutes third short. All the were of medium intensity. Rush On Southern Florida Banks Believed at End MIAMI. Fla., June arrival $2,000,000 in cash The airplane and several reassuring state banking offistatements by cers helped allay the of depositors funds in which yesterday. In addition the plane ship$4,000,000 was expected by rail today to aid in restoring confidence. One the banking officials inthe situation not that conditions which closures would have adjusted themselves there had not unfavorable "talk," bankers The closed were the Bank Biscayne, with resources of the Biscayne Trust Company, with and Miami Beach Bank and Bank Coral Gables, with and the Bank of Homestead. Local bankers said they were confident be stored the public the the heavy made the institutions. They the assurance of additional aid from the federal reserve if it were needed, they said. FAIL TO OPEN Fla., June small financial instituthe Bank of Clearwater Guaranty Title Trust failed today. Notices pany. stated the had been asked to take charge to protect depositors.

8. June 12, 1930 The Knoxville News-Sentinel Knoxville, TN
Article from The Knoxville News-Sentinel, June 12, 1930

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MIAMI RECEIVES MONEY BY PLANE $2,000,000 Rushed to City Where Five Banks Closed. By United Press MIAMI, Fla.-The arrival of $2,000,000 in cash by airplane and several reassuring statements by state banking officers helped today to allay the uneasiness of depositors who had funds +n five banks which closed yesterday. One of the banking officials insisted the situation was not acute, and declares the conditions which led to closures would have adjusted themselves if there had not been unfavorable "talk," some of it by bankers themselves. It was said today that an additional $4,000,000 was being rushed Into the Miami district by mail. It will arrive this afterThe banks which closed were the Bank of Bay Biscayne, with resources of $17,182,292; the Biscayne Trust Co., with $1,962,148; the Miami Beach Bank & Trust Co., with $2,593,281; the Bank of Coral Gables, with $743,759, and the Bank of Homestead. Local bankers said they were confident normality would be restored promptly when the public understood the cause of the heavy run made on the institutions. They had the assurance of additional aid from the Federal Reserve if it were needed, they said. CLEARWATER BANK FAILS By United Press Bank of Clearwater, capitalized at $250,000 and the Guaranty Title and Trust Company, smaller institution, also of Clearwater, went into the hands of the state banking department today and closed their doors.

9. June 12, 1930 Berwick Enterprise Berwick, PA
Article from Berwick Enterprise, June 12, 1930

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RIGHT OFF THE WIRE. Sticks To Oxen Calicoon, June general beasts burin this section was disearded years Jacob Dreher. farmer Beechwoods, still prefers them to horses. he they are Electricity In Japan Tokyo, June by electricity has strong hold on Japcountry many economic conditions have been unchanged for hundreds years. conductby the government shows electric light bulbs the of 1929. Tokyo led the of users, with 105 bulbs per 100 Treasury Balance. Washington, June The treasJune Customs receipts for the month that date totaled expenditures Attempted Jail Break. June tempted break county jail here when Martin bor, made attempts escape from prisons various of the was prehended Warden Tablor from the county jail August, 1925, by gling through window five three fourths inches He had brought year term for burglary term years for mail robbery the McNeil Island federal penitenWashington. had been watching for weeks after finding cell. placed itary confinement today. Banks Close Doors. Miami, June The Bank Clearwater, Guaranty Title and $250,000 and the Trust Company, smaller Clearwater, closed their doors also today, bringing twelve the number recent bank closures Florida. Clearwater the Florida coast, Tampa. banks closed yesteday the Bank of Bay Biscayne, of the Biscayne the Trust Beach and Trust Miami the Bank pany, and the Coral Gables, with Homestead. bankers said when the public promptly heavy run made the the They had the institution. from the fedadditional needed. they reserve Voluntary Bankruptcy. June 12(LP)Mount Rock trading the Knepp. Ideal Block blocks, filed ufacturers cement bankruptcy voluntary petition here listing Federal Court and bilities estate valued Real Knepp agreed in the assets, surrender proppetition benefit of his for the Commitee Wants Papers. June Foreign Relations today by vote adopted right resolution asserting Naval Conference London been refused the which committee President Hoover. Chairman Borah the the committee to Mr. Hover and Secretary Stimson through whom State former's refusal produce the papers known the committee. resolution will be presented the Senate for action expression opinion. Lingle Buried. Chicago, June Lingle, by men he had followed for police was years buried with military honors today while civil authorities sent expert out end, with bullets, the gang which have claimed lives. The funeral procession through Garfield Park the West Side from the bureau that the hoodlum roundup of the last hours had behind jail

10. June 12, 1930 Transcript-Telegram Holyoke, MA
Article from Transcript-Telegram, June 12, 1930

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$2,000,000 BY AIR FOR FLORIDA BANKS Five in Miami Open Relieved. ness depositers in five local banks with the arrival in cash by airplane from and optimistic reports from and offici. als. Failure to for business the largest oldest finanand three branches depositors scurrying for information their money, caused another bank to shut down to run, stopped abruptpadlock heading the residence of Scarface, Chigang leader. Bank Bay Biscayne with its Biscayne Trust Bank Gables and Miami Beach Bank Trust Co. stood closed hind notice officials that tion followed consultation heavy recently and reported "frozen The Bank of Homestead shut down with the expressed puravoiding The Bay Biscayne Bank, capitalized at $1,000,000 hold State banking officials at Talla. blamed around the and frozen assets for failure the Biscayne banks and the assets failure of five recently erican Bank the Ninth Street Bank Trust, Fidelity, First First National. with capital of President Romfh of the Miami First National of the brought by plane would be used other the closed houses.

11. June 12, 1930 Mount Vernon Argus White Plains, NY
Article from Mount Vernon Argus, June 12, 1930

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FUNDS RUSHED FIVE BANKS State Officials Allay Fears of Miami Depositors Miami. Fla. June The arrival of $2,000,000 in cash by airplane and several reassuring statements by State Banking offihelped today to allay the easiness had funds in five banks which closed One of the banking officials insited the not acute and the conditions which led to the closures would have adjusted themselves if there had not unfavorable "talk," some of it by bankers The banks which closed were the of Bay Biscayne, with resources of $17,182,292; the Biscayne Trust Company, with $1,962,148; the Miami Beach Bank Trust Company, with $2,593,the Bank Coral Gables, with $743,759, and the Bank of Local bankers said they were normalcy be restored promptly when the public understood the cause of the heavy run made on the institutions. They had the assurance additional aid from the Federal Reserve it they said.

12. June 12, 1930 The Capital Journal Salem, OR
Article from The Capital Journal, June 12, 1930

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BRING MILLIONS TO AID FLORIDA BANKS Miami, Fla. arrival in cash by airplane several reassuring statements by state banking officers helped to lay depositors had funds in five banks which closed here In addition to the plane shipment $4,000,000 was expected rail Thursday to aid in restoring confiOne of the banking officials sisted the situation not acute, and declared that the conditions which led to closures would have adjusted themselves there had not been unfavorable of by bankers themselves. Local bankers said they were confident the banks which closed were the Bank Biscayne, with resources of the Biscayne Trust with and company, Miami Beach Bank and Trust with the Bank of pany, Coral Gables, with and the bank of Homestead. Local banks said they were confident would restored when the public underpromptly stood the cause of the heavy run made on the They had the of additional aid from the federal reserve were needed, they said.

13. June 13, 1930 The Record American Mahanoy City, PA
Article from The Record American, June 13, 1930

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Florida Banks Get Cash To Check Runs rival of $2,000,000 in cash by airplane and several reassuring statements by State banking officials helped today to allay the uneasiness of depositors who had funds in five banks which closed here yesterday. One of the banking officials insisted the situation is not acute, and declared that the condition which led to the closures would have adjusted themselves if there had not been unfavorable "talk," some of it by bankers themselves. The banks which closed were the Bank of Bay Biscayne, with resouces of $17,182,292; the Biscayne Trust Company, with $1,962,148; the Miami Beach Bank and Trust Company, with $2,593,281; the Bank of Coral Gables, with $743,759, and the Bank of Homestead. Local bankers said they were confident normalcy would be restored promptly when the public understood the cause of the heavy run made on the institutions. They had the assurance of additional aid from the Federal Reserve if It were needed, they said.

14. August 14, 1930 The Miami Herald Miami, FL
Article from The Miami Herald, August 14, 1930

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NEWS SUMMARY WEATHER Forecast Florida: Partly cloudy; possibly local thundershowers today and gentle east winds. Miami Maxminimum, 76. Complete weather report Page NATIONAL Hawks broke transcontinental flyrecords. Page Illinois pilot admitted flying plane bombing trip. Page Aviatrix made 714 barrel rolls in plane Louis. Page Endurance fliers soared after breaking all records. Page Mrs. Owen took up fight for Key West naval station. Page Norris veteran were Page burned over 4,000 acres Camp Knox, Page Congressman protested to Hoover food prices. Page 12. FOREIGN. The British dirigible left Montreal for England. Page caused Canadian village. Page Americans were nominated for places on World court. Page STATE. Gov. Doyle Carlton addressed meeting of farmers Gainesville. Page Hearing for Ernest Amos, state comptroller, bank charges for September Page Two escaped injury in forced landing near DeLand. Page County commission failed to agree next $6,000 bank investigation fund appropriation. Page Complete plans for air derby from Miami to Chicago given. Page School board let contracts for $10,000 structures. Page Miami Beach ask owners bonds of that city to permit the city to redeem them Page Girl, injured by automobile, will recover. Page Whitlock geologist, was sued for by former employe. Page Boys' drum and bugle corps now has $600 of needed for trip to Indianapolis. Page Suit for federal receiver for closed Bank of Biscayne dismissed. Page Condition of Biscayne Trust Company on day closed was given. Page Sergeant arms of Florida senate be burled Miami. Page Miamian injured by propeller blimp Indiana. Page High rating given Miami broadcasting over network 48 stations. Page Aviation rated "doctor Miami visitor. Page Miami benefits were cited before Miami Realty Board. Page Decision holding bus taxation legal will be appealed. Page NYRBA seaplane made forced landing land Cuba without injury passengers and crew Page MISCELLANY. Airport Activities. Page Page Comics. Page Crossword Puzzle. Page Docks and Decks. Page Editorials. Page Markets. Men's Calendar. Page Radio Programs. Page Society. Page Sports. Page Theaters. Page Tourist Page

15. August 14, 1930 The Miami Herald Miami, FL
Article from The Miami Herald, August 14, 1930

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Liquidator Calls On Owners of Securities To Provide Assessment of 100 per cent against holders the $150,000 capital stock the closed Biscayne Trust Company made by the state comptroller yesterday Morgan McCormick, president the Guardian Trust Company which liquidating the Trust Company, issued statement showing liabilities July 11, 1930, when the Bank Bay Biscayne subsidiary closed, balance the same amount without taking of real estate mortgages and other loans and assets the closed trust company. Quarterly reports covering the progmade liquidation will made, McCormick said. Mr. McCormick's statement lows: Guardian Trust Company has completed taking over from the examiner assets and records held by

16. May 20, 1931 The Miami News Miami, FL
Article from The Miami News, May 20, 1931

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Bishop Sheddan Reaches Nassau After Loss of Yacht That Struck Reef Shipwrecked Party Is Landed $900,000 SUIT FILED AGAINST BANK PROPERTY NASSAU, Bahamas, May Survivors of the yacht Livonia wreck rested here today after their rescue from a distant Bahama island where they were marooned following loss of their vessel and the drowning of the ship's captain, Joseph Bishop Roscow Sheddan of Nassau, sister, Evelyn, and of the Livonia arrived late yesterday aboard the motor Molola. They said suffered no ill effects from their other than inconveni from and The Livonia, used by Bishop Shed dan in visiting churches his sank after striking reef off Plana or French squall. The craft went down within 10 the but all aboard man to reach shore. Despite of the bishop, Captain Taylor dived into the water in an attempt to of their belongings and was drowned. Efforts to recover the body proved unsueBishop Sheddan returning Nassau visit churches at Turks island and Caicos island. He head of the Nassau diocese of the Church of England. Receiver Asked for Bay Biscayne Building by Bond Holder Appointment of receiver for the Bank of Bay building be asked before Judge J. H. Tedder in Lauderdale in the few days connection with suit filed here late yesterday by the Metropolitan Life Insurance Co. to foreclose $900,000 against Mo Biscayne Properties, of which James Am H. Gilman is According the suit filed the $900,000 bond issue was floated Nov. 1926, retired at certain dates. The mortgage is in default, $854,750 principal remaining due, together with all interest payments due since May 1, 1930. The First property also has been sold for 1929 In asking for the receiver the plaintiff alleges the defendant receiving Corn the entire from office rentals, which should be applied to retiring the debt. All tenants in the building are made defendants, Dr. H. Therrell being liquidator for the Bank of Bay Biseayne, liquidator for the Biscayne Trust Co. and in his capacity According Knight. Pace and for the Hupp pany, the naming of Dr. Therrell as defendant makes it to hear the of the local judges, all of whom are deposits in the suspended bank.

17. July 11, 1931 The Miami News Miami, FL
Article from The Miami News, July 11, 1931

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THERRELL ALLOWED TO ERROR Dr. H Therrell, liquidator of the Biscayne Trust Co., granted thority late yesterday by Judge Uly Thompson of circuit off of and Annette Ullendorff. heirs of the late Phillipp paid to protect holdings belonging to the liquidator's petithe had $42. to the but when was out on on which they held the made mis against account. The liquidator was to correct the error and subtract the tax

18. October 4, 1931 The Miami News Miami, FL
Article from The Miami News, October 4, 1931

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HEIRS MUST SUE BISCAYNE BANK Appeal to Be Taken from Decision Involving $14,500 Heirs of William Jennings Bryan, whose estate lost $14,500 with the closing the Bank Coconut Grove 1927, now have to the Bank Bay Biscayne liquidator in further effort to recover money, under decision handed down yesterday by Judge H. F. Atkinson of circuit court. The decision, which follows several years of litigation, will be appealed attorneys. The appeal place the case before the Tallahassee tribunal second time, the supreme court already having passed on the right to preferred claim. Mrs. Mary Baird Bryan, the widow, in Los Angeles 1927, asked the Grove cash balher by New York exchange. the not Mrs. Bryan had her in Miami The money was in transit when the institution closed. After suit was brought by Mrs. Bryan agreed that the money, which had reached the Chase National New York, should be placed in Co. held subject order. The Biscayne Trust Co. posited money Bank Bay both closed in 1930. When the supreme court ordered preference granted recently. attorneys for. Duncan, liquidator, the the hands the Biscayne Trust Co. should be the only asset involved, thus relieving Bank Coconut Grove further liability. Judge H. Atkinson concurred in this view.