gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
4bf0315146fa39fc
Response Measures
None
Description
Run was prompted by the simultaneous closing/suspension of several nearby Palm Beach banks; Citizens Bank itself remained open and met withdrawals.
Events (1)
1.March 8, 1927Run
Cause
Local Banks
Cause Details
Run was triggered by the closing/suspension of three Palm Beach county banks that failed to open, prompting depositors to withdraw from remaining banks including Citizens Bank.
Measures
Armored car from Miami brought large sums of currency; bank announced sufficient funds and remained open (operations extended to meet withdrawals); community parade and public statements helped restore calm.
Newspaper Excerpt
Runs on the Farmers Bank and the Citizens Bank of West Palm Beach were such that an armored car was dispatched from Miami bearing cash for panicky depositors.
Source
newspapers
Newspaper Articles (25)
1.March 8, 1927Battle Creek Moon-JournalBattle Creek, MI
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PALM BEACH BANKS CLOSED
Move Starts Run on Other Institutions of District.
West Palm Fla., March leading banks the Palm Beach district closed their doors today and started of the most frenzied runs the history of Florida finance. found streets jammed with depositors their money from remaining banks of the Runs the Farmers Bank and Citizens Bank of West Palm Beach that an armored dispatched from Miami bearing cash for panicky No sooner had the First AmeriBank Trust posted notice business suspended the protection depositors tions Bank Trust of West Palm Beach and the First Bank and Trust Palm Beach. Heavy all three banks during the eight affairs part the state given as reasons for the ing.
2.March 8, 1927Astoria Evening BudgetAstoria, OR
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THREE PALM BEACH CLOSE
WEST PALM BEACH, Mar. leading banks of the Palm Beaches closed their doors this morning started one the most frenzied runs in the history of finance. Mid-day found streets jammed with depositors their money withdrawing from remaining banks of the city. Runs the Farmers Bank and the Citizens bank of West Palm Beach such that an armored despatched from Miami bearing cash for panicky deposiNo sooner had the First AmeriBank Trust company postnotice business pended for protection posits, than two other instituions closed. Heavy wihdrawals on all three bans during the past and unsettled condition affairs this part of state given as results of the closings.
LOG SETTER KILLED Mar. McKinstry, log setter the Ryderwood died late yesterday sult injuries received when by swinging log.
3.March 8, 1927Evening StarWashington, DC
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THREE BANKS SHUT DOORS IN FLORIDA Two State Institutions in Illinois Also Suspend Business. By the Associated Press. WEST PALM BEACH, Fla., March 8.-Two banks here and one in Palm Beach failed to open for business today. Police took charge of the crowds that gathered in front of the institutions and maintained order. Officials of the Citizens Bank an nounced that an armored car had left Miami for West Palm Beach. bearing a large sum of currency for the Citizens Bank and the Farmers Bank and Trust Co. Directors of the First American Bank & Trust Co. stated that the bank is solvent and would be opened after a reorganization. The directors stated that they have more than a legal reserve on hand. Bank Issues Statement. The First American was capitalized at $300,000 and a statement issued this morning showed: Loans and discounts, $3,416,503.52 cash in vault, $58,255.35; cash in other banks, $553,730.85; liabilities, bills pay able, $1,140,000; deposits, $2,982,787.67. The First American Bank's officers said it had to be closed because of gen. eral conditions following the failure of two Palm Beach banks last June. the hurricanes, the continued depres. sion in real estate. the upheaval in city affairs, the failure of the First Bank & Trust Co., a few weeks ago in Lake Worth, and continued large withdrawals by depositors in the past few weeks. More than $10,500,000 has been withdrawn from the bank from a peak of $13,500,000 deposits a few months ago, directors said. Run Seemed Imminent. The First Bank and Trust Co. of Palm Beach is capitalized at $50,000. and has $100,000 as surplus and un. divided profits. No reason was announced for the closing, but it is believed that the bank closed in order to forestall a run. The Northwood Bank, which serves the northern part of West Palm Beach, is believed to have closed for the same reason. Closing of the reorganized First Bank and Trust Co. of Lake Worth a few weeks ago had apparently inspired depositors here to withdraw their accounts in large sums. Illinois Banks Closed. MENDOTA, Ill., March 8 (AP).-The Arlington State Bank. only bank at Arlington, near here, was closed today by the directors, who are awaiting examination of the books by the State auditor. Frozen assets were assigned for the closing of the bank, which had farmers mainly as clients. SPRINGFIELD, Ill., March 8 (AP).The Marbold State Bank at Greenview was closed today after a run started yesterday, when it was rumored that the bank had heavy holdings in the North Side Bank of Springfield, which closed last week. Bank examiners were in charge today.
4.March 8, 1927Monrovia Daily NewsMonrovia, CA
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Frenzied Run On Florida Banks As Three Close
WEST PALM March banks of the Palm Beaches closed their doors this morning and started one of the most frenzied runs In the history of Florida finance. Mid-day found streets jammed with depositors seeking to save their money by withdrawing from remaining banks of the city. Runs on the Farmers Bank and the Citizens Bank of West Palm Beach each were such that an armored car was dispatched from Miami bearing cash for panicky depositors. sooner had the First American Bank and Trust Company posted notice that business was suspended for the protection of depositors than two other tutions Northwood Bank and Trust Company of West Palm Beach and the First Bank and Trust Company of Palm Beach. Heavy withdrawals all three banks during the past or ten months and unsettled condition of affairs in this part the state were given as reasons for the closings.
5.March 8, 1927The Richmond News LeaderRichmond, VA
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THREE FLA. BANKS CLOSE THEIR DOORS
Continued From First Page. drawn from the bank from A peak of $13 deposits few months ago, directors Will Reorganize. Directors of the First American Bank and Trust Company today stated that the bank was solvent and would reopened after The directors stated that they have more than legal reserve on hand. The bank was closed for the protection of depositors, officers said. The First Bank and Trust of Palm capitalized at $50.000. and gives as surplus and profits. No reason was given for the but was believed that the bank closed in order to forestall The Northwood which serves the northern part of the city, is be lieved to have closed for the same The closing of the local Institutions follows closely upon the closing of the reorganized First Bank and Trust company at Lake Worth. few weeks and which inspired depositors to withdraw their accounts here in large The three other large banks in the city were experiencing determined runs filling the streets before the institutions. The crowds are Officials of the Citizens' bank announced that an armored was en from Miami for West Palm Beach bearing amount of curdestined for both the Citizens' the Farmers' Bank and
THREE FLORIDA BANKS CLOSE THEIR DOORS
Streets of West Palm Beach Jammed With Depositors.
SEEK TO WITHDRAW FUNDS
One of Most Frenzied Runs In History of State.
WEST March leading banks of the Palm Beaches closed their doors this morning and started one of the most frenzied runs in the history of Florida finance Mid-day found jammed with depositors seeking save their money by withdrawing from remaining banks of the city runs on the Farmers' Bank the Citizens Bank of West Palm Beach were such that an was dispatched from Miami bearing cash for panicky No sooner had the First AmeriBank and Trust company posted notice that business was (Turn to Last Page, Please)
REPAIR PEST HOUSE ROAD The Pest House road is being ditched and dressed.
7.March 9, 1927The Springfield Daily RepublicanSpringfield, MA
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THREE FLORIDA BANKS CLOSE THEIR DOORS
West Palm Beach, Fla., March 8Three leading banks of the Palm Beach district closed their doors today and one the most frenruns in the history of Florida finance. Midday found» streets jammed with depositors seeking to save their money by withdrawing it from remaining banks of the Runs on the Farmers bank and the Citizens bank of West Palm Beach were such that an armored car was
8.March 10, 1927The Owensboro MessengerOwensboro, KY
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Run On Bank Ends When Band Plays March Music West Palm Beach, Fla., Mar. steady on the Farmers Bank and Trust which began with the closing of three banks in West Palm Beach Palm Beach, ended here today when organized parade marched down street band began march for to keep step to they went into the bank to withdraw their funds. The Citizens bank suffered prolonged run yesterday, opened as usual today, but did not witness run. Officials of the bank said they did the usual day's business.
9.March 10, 1927Bristol Herald CourierBristol, TN
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Business Men Bear Banners Reading, 'Men or
THREE BANKS CLOSE OTHERS SURVIVING
Night Club Employees Are Filled with Woe as Savings Are Tied Up in Closed Banks
WEST PALM BEACH, Fla., Mar. steady run Farmers Bank and Trust Company, which began yesterday with closing three banks Palm Beach Palm Beach, endhere today when organized parade marched the band began playing march for depositors to keep step to they went into bank to withdraw their funds. The parade, led by the municithrough the principal streets the city ended front the Farmers Bank and Trust Company. Banners claring have in and "men were carried by men. The Citizens Bank, which suffered prolonged yesterday opened usual today but did not witness run. Officials the bank said they did normal day's busi-
The runs the two banks yesterday when three banks falled to open their doors for businoon mored carrying $2,000,000 currency despatched from and arrived time keep the banks closing heavy Wealthy the Palm Beach winter colony said large posits the two withstand the large withdrawals. Today's parade, organized by leadcitizens, traffic the street front the Farmers Bank and Trust Company, and inscribed sheepprominently displayed front long line waiting withdraw its officials tonight said they the crisis had passed that banks would have trouble withstanding any size. Hits WEST BEACH, Mar. the world looks Florida's latest bank closings and wonders what will happen next, several hundred night employes other ter tourists amusers sigh and think things couldn't much They are the people came this "gold mine the 20th century" last prepared enterthe think more handing thousand dollar bill than average man does tossing over nickel for cola. Lightly they tripped from the railway arrived here, full when those gain this spring lightly they tripped fantastic many many night during the tinkle gold pieces ringing their These entertainers sang and play smiled, and perhaps the smile always but they worked their and they got them thousand dollars thousand dollars, they put their money the local banks and watched saving grow the days lengthened summer neared time go home. But dance tonight they wonder whether take back home, they'll have stick out the nights in the coach station The banks which they put their money have closed, and have intimation when they re-open for the little books which many them hold about all they have.
SNAPPY MARCH SENDS DEPOSITORS
Florida "Run" Ends Signs Up Sheep."
WEST PALM BEACH, Fla., March 9 (P).-A steady run on the Farmers Bank and Trust company, which began yesterday with the closing of three banks in West Palm Beach and Palm Beach ended here today when an organized parade marched down the street and band began playing march for depositors to keep step to as they went into the bank to withdraw their funds. The parade, led by the municipal band, marched through the principal streets of the city and ended in front of the Farmers Bank and Trust Banners declaring "we haw faith in our banks' and "men or sheep- which?" were carried by business men. The Citizens Bank, which suffered a prolonged run yesterday opened as usual today but did not witness a run. Officials of the bank said they did a usual day's business. Today's parade, organized by leading citizens, blocked traffic in the street in front of the Farmers Bank and Trust company, and the banners inscribed "men or sheep which?" were prominently displayed in front of the long line waiting to withdraw its deposits Banking officials tonight said they felt the crisis had passed and that both banks would have no trouble run of any size if it were to start.
11.March 10, 1927The Charlotte ObserverCharlotte, NC
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BANDS PLAY AS BANK RUN ENDS
Floridians Flaunt Banners and Parade Before Rescued Institutions.
WEST PALM BEACH, Fla., March 9.-(AP)-A steady run on the Farmers Bank & Trust company, which began yesterday with the closing of three banks in West Palm Beach and Palm Beach, ended here today when an organized parade marched down the street and a band began playing a march for depositors to keep step to they went into the bank to withdraw their funds. The parade, led by the municipal band, marched through the principal streets of the city and ended in front of the Farmers Bank & Trust company. Banners declaring "we have faith in our banks" and "men or sheep-which were carried by business men. BUSINESS NORMAL. The Citizens bank, which suffered a prolonged run yesterday opened as usual today but did not witness run. Officials of the bank said they did a normal day's business. The runs on the two banks began yesterday when three banks failed to open their doors for business About noon yesterday an armored car carrying currency was dispatched from Miami and ar rived in time to keep the two remaining banks from closing because of the heavy run Wealthy members of the Palm Beach winter colony said to have made large deposits to help the two institutions withstand the large withdrawals. Today's parade. organized by leading citizens, blocked traffic in the street in front of the Farmers Bank and Trust company. and the banners prominently displayed in front of the long line waiting to withdraw its deposits Banking officials tonight said they felt the crisis had passed and that both banks would have no trouble withstanding a run of any size.
12.March 14, 1927The Greenwood CommonwealthGreenwood, MS
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PALM BEACH BANKS EXPERIENCING RUN WEST PALM BEACH, March 14. (AP) Three Palm Beach county banks failed to open their doors day while another local financial institution sought to check a critical run.
The Farmers Bank & Trust Co., of West Palm Beach and the First National Bank of Lake Worth, and the Ocean City Bank of Del Ray did not open. The Citizens Bank of West Palm Beach was the object of a determined run.
13.March 14, 1927The Daily AdvertiserLafayette, LA
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Three Of The Florida Banks Close Doors Today; Another Is Experiencing Severe Run
WEST PALM March Associated Press) Three Palm Beach county banks failed to open today while another local financial institution having severe run The Farmers Bank and Trust Company of West Palm Beach, one of in this section, did not open following midnight ancouncement by Reese the president that the closing of local banks and Palm Beach bank last Tuesday had precipitated this action. the First National Bank of Lake Worth and the Ocean City Bank of Delray Cid not open for business this morning No reason for their action was made public Hawkins, State Bank Ex aminer immediately assumed charge of the Delray institution The closing at Lake Worth left that city without bank long line of persons braved rain this morning in determined run on the Citizens Bank West Palm Beach The crowd started forming before the usual opening time, and before long a solid line stretched out for almost a block and half Excitment prevailed while friends of the bank sought to talk with each person to urge against withdrawal of funds The remained intact, however, although hard shower dispersed curious. crowd which threatened for a time to jam traffic at that point. It was reported that an armored car speeding here with aid from Miami banks
WASHINGTON March Assoclated Press). Treasury officials are not worried over the national bank situation in Florida but characterize the condition of the natio nal banks there as "generally good." The closing of the First National Bank of Lake Worth, Florida, is considered the first important national banking institution in the state to operations. Lee H National Bank Examiner for Florida. in charge of the national bank situation there.
14.March 14, 1927The News-StarMonroe, LA
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FLORIDA BANKS CLOSE DOORS; 'RUN' STARTED
By Associated Press WEST PALM BEACH, Fla., March Three Palm Beach county banks while another failed to open to stave off local institution sought severe run. The Farmers Bank and Trust company of West Palm Beach, one of the largest banks in this section, did not open today, following midnight nouncement by T. Reese its president, that the closing of two local banks and Palm Beach bank last Tuesday had precipitated the action the First National Bank of Lake Worth and the Ocean City Bank of Delray did not open for business this morning No reasons for their actions were made public T. C. Hawkins, state bank examiner, immediately charge of the Delray The closing at Lake Worth left that city without bank. The Delray bank was capitalized at $25,000 deposits aggregating $1,699,850, while the Lake Worth Bank had capital of $100,000 and deposits of $2,622,690. according to their last statements published in July, 1926. A long line of men and women braved pelting intermittent rain here this morning in determined run on the Citizens bank of West Palm Beach A sizeable crowd started forming before the bank's usual open ing time. The line stretched solid almost block on Clematis street and on Narcisuss street half block Mild excitement prevailed, while friends of the bank sought to talk with each person in line in an attempt to in. fluence all against withdrawing funds The line remained Intact although hard shower dispersed curious crowds which threatened at times to jam traffic at this Reports were circulated that an armor. ed was speeding here with substantial aid from Miami banks Officials and directors of the Citizens Bank who had been in ses sion all night met the run this morning with statement assuring the de positors that sufficient funds had been obtained to pay every one and that the bank would "not close now or hereafter "We believe that the withstanding of the ordeal through which West Palm Beach has gone, will be factor in the early re-establishment of con. fidence," the statement declared. The Citizens Bank, together with the Farmers Bank, last week weather. ed the determined runs which resulted in three closings.
15.March 15, 1927Santa Cruz SentinelSanta Cruz, CA
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TONE FAILURES
WEST PALM March 14 quieter tone along palm beaches tonight following period of excitement when determined run on the Citizens' Bank, caused the closing of three banks in Palm Beach county today Two of the three banks remaining open had not experienced runs. They observed the regular closing hour. The Citizens' Bank, after ing that plenty of funds had been obtained pay every remained open until six o'clock to meet all requests for payments.
16.March 15, 1927The Grand Rapids PressGrand Rapids, MI
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THREE PALM BEACH BANKS CLOSE, BUT PATRONS ARE CALM
Run on One Institution Subsides After Half Day of "Rushing."
ALL PLACES TO REOPEN
Inactivity of Real Estate Operations Blamed; Money Houses Not Insolvent.
West Palm Beach, March 16. quieter tone pervailed the Palm Beaches Monday period of when determined run Citizens bank, prompted by the closing of three banks in Palm Beach county abated early in only short lines of depositors windows Two three banks remaining open did experience closing The bank plenty funds been pay positors, until to meet all requests for payment return to normality aided largely Miami of sacks of currency for bank The which did open Monday included Farmers Bank Trust of the largest banking institutions here. bank closed temporarily, announced. the interest Plans the bank within 30 or 60 days Officials Issue Statements.
First bank of Lake Worth and Delray were other banks which did Monday No statement was regarding their Officials of the Citizens bank expressed their determination close will be even stronger now when direcbank the real estate mar ket and the fact much the based upon estate security was given by the the which faster the banks could liquidate resulted in the down making necessary for the institutions suspend, he that does not that because bank close Another reason. for the recent suspensions, the comptroller lieved, been cashing checks for into the state this winter This costs the banks instead of helping them, he declared. Officials the Central Farmers bank and the National Bank West Palm Beach, the other institutions which the condibe good. They anticipated no financial culties.
17.March 15, 1927Joplin GlobeJoplin, MO
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TONE CLOSING OF DEPOSITORIES.
West Palm Beach, Fla., March quieter tone prevailed the Palm Beaches tonight lowing period of excitement when determined run on the Citizens bank, prompted by the closing three banks in Palm Beach county, abated early this afternoon. Two of the three banks remainopen here did not experience They observed the regular closing hours. The Citizens bank. however, remained open until o'clock to meet all requests for payments.
Funds Rushed Bank. The normality was aided largely by the arrival from Miami twelve sacks of currency Citizens bank. The banks which did not open today the Farmers Bank and Trust Company, which was closed temporarily, in the Interest of the positors. The First National bank of Lake Worth and the Ocean City bank of Del Ray the other banks which did not No offistatement was issued their closing. Meanwhile banking officials here and Tallahassee issued quieting statements calling upon patrons their "proper and assuring that the banks which have remained open will able to meet every demand. Inactivity of the real estate markets and the fact that much banks receivables were based upon estate by Ernest Amos. state comptroller, the cause for the recent closings. Another for the recent suspensions, the comptroller lieved, has been of checks for tourists state this winter. This costs the banks something instead helping them, he declared.
18.March 15, 1927Daily PressNewport News, VA
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PALM BEACH BANKS QUIETER AFTER SUSTAINING
Citizens Bank is Besieged by Depositors But Cares For All Applicants With Cash, Ending Stampede.
WEST PALM BEACH, Mar. tone prevailed in the Palm Beach tonight following riod of when ermined run on the Citizens Bank, prompted by closing of additional Palm Beach county banks, abated early in the afternoon only lines of depositors at the Two of the three banks remaining did runs. The announcing that plenty of funds obtained pay every dtpositor, remained open six o'clock meet all requests for payments. The normaley was alded largely by the from bringing sacks Citizens Bank The banks which did open for business included Farmers Bank Trust Company of the largest nounced the interest positors whom declared cent result the for opening the bank within 30 or 60 announced The First National Bank of Lake Worth and the Ocean Bank Delray the other banks which did not open official issued regarding their closing today brought the total number banks which had suspended in the Palm Beaches within few months seven Three of closed last officials here the the 'proper operation that the will be able to meet every demand Officials of the Citizens Bank pressed their determination bank will be stronger and Bank Trust said after which was decided institution. Inactivity the real estate market and the fact that much the banks receivables kind of was given the for the recent closings Florida. "The great withdrawals which faster than the banks can their the breaking down reserves, making necessary for the institutions said the comptroller ding follow because bank is closed that insolvent.'
19.March 15, 1927Reading TimesReading, PA
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PALM BEACH BANKS WITHSTAND RUNS
One Remains Open After Hours and Meets Every Demand For Money
WEST PALM BEACH, Fla. March 14 quieter tone prevailed in the Palm Beaches tonight following period of excitement when determined run on the Citizens' bank, prompted by the closing of three banks in Palm Beach county, abated early this afternoon, leaving only short lines of depositors at the windows. Two of the three banks remaining open here did not expect runs. They the regular closing hours. The Citizens' bank, however, announcing that plenty of funds had been obtained to pay every depositor remained open until o'clock to meet all requests for payment. The return to normality was aided largely by the arrival from Miami of twelve sacks of currency for the Citizens' bank. The banks which did not open today included the Farmers' Bank & Trust company, one of the largest banking here. The bank was closed temporarily, it was announced, in the interest of the depositors. Plans for reopening the bank within 30 or 60 days were announced. The First National bank of Lake Worth, and the City bank, of Delray, were the other banks which did not open today. No official statement was issued regarding their closing.
20.March 15, 1927The News-JournalLancaster, PA
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CLOSE
Depositors Regain On Seeing Sacks Of Currency RUN ON FOURTH HALTED
West Palm Beach, March prevailed in the Palm Beaches following period of the prompted the closing of three banks Palm Beach county, abated early leaving only short lines of depositors the windows Two of the three banks remaining here did not expect They regular closing hours. The ing funds had been obpay ed to meet all quests for The normality aided largely the arrival sacks of currency for the Citizens' Bank. One Expects to Reopen The banks which not open today included the Bank Trust Company, the largest banking institutions The bank was closed temporarily announced, in the interest depositors. Plans for the within thirty sixty days were The First Bank Lake Worth and the City Bank Delray were did not today official issued regarding their clos-
Meanwhile, banking officials here and Tallahassee issued quieting statements calling upon patrons to their institutions "proper co-operation" assuring depositors that which have remained open will banks be able Determined to Stay Open Officials Citizens' Bank determination not pressed close now hereafter." Inactivity of the real estate much of the based estate security given by comptroller, as the est Amos, recent closings. withdrawals which were banks could liquidate faster than have resulted in the receiveables making breaking down for the institutions necessary adding pend," because not necessarily that insolvent.' closed of the latter statement, As evidence Amos the reopening Mr. in Florida within the past year. banks
21.March 15, 1927The Commercial AppealMemphis, TN
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THREE BANKS
Citizens Bank at West Palm Beach Withstands Run.
DEPOSITORS ARE PANICKY to InFunds Rushed stitution From Date Back Real Estate Boom, State Comptroller.
WEST PALM BEACH. March quieter tone prevailed the Palm tonight, following period of excitement today when on the Citizens Bank, prompted by the closing three Palm Beach County banks. abated early the afternoon leaving only short lines of depositors at the windows. Two of the three banks remaining open here did not experience runs. They the regular closing hours. The Bank, however, announcing that plenty of funds had been obtain pay every depositor, remained until o'clock to all requests for payments. The return normaley was aided largely by arrival an armored truck from Miami bearing 12 sacks currency for the beleaguered Citizens Bank. The banks which did not open for business today included the Farmers Bank Trust Company, one of the largest banking institutions here. which closed temporarily, was announced, in Interest of the positors whom the bank's statement declared would not lose cent as result of the closing. Plans for reopening the bank within 30 or days were announced. No Official Statement.
The First National Bank of Lake Worth and the Ocean City Bank of Ray were the other banks which did open today. No official statement was issued regarding their closing. banking officials here Tallahassee issued quieting calling patrons banks to give their institutions "proper co-operation" and depositors that the open be able to meet Officials of the Citizens Bank expressed their not hereafter.' will be even stronger than and the Farmers ficers Bank night meeting decided close institution. Inactivity the real estate and the fact so much receivables based security Ernest Amos the cause for the recent closings. Reserves Broken Down.
"The great withdrawals which banks liquidate their sulted in the breaking down serves, making necessary for the institutions suspend,' said the comptroller, adding that because closed insolvent." As the latter statement, the pointed reopening suspended banks in Florida within the past The closing today the First National Lake the closing important national bank in the state. Usual Scenes.
Scenes at the Citizens Bank tothe runs last when three banks were closed. large part the crowd was posed the idly curious watch the move toward paying tellers. milling throng the stuck to their places the line until about o'clock the afternoon when only few per-
22.March 15, 1927News and RecordGreensboro, NC
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MORE RUNS ARE WHEN THREE BANKS ARE NOT OPEN
One of Largest Palm Beach Banks Is Closed.
OTHERS WEATHER DRIVE
They Are Declared to Be On Solid Foundation and Can Pay All Depositors.
REASON FOR CONDITIONS
Comptroller Banks Are Solvent But Are Unable To Collect counts Funds Are Withdrawn.
West Palm Beach, March 14. quieter prevailed in the Palm Beachers tonight followperiod excitement today when determined the Citizens bank, prompted by the closing of three Palm Beach counbanks, abated the afterof depositors the windows Two three remaining open here did experience The bank, announcing that plenty funds had obtained remained meet all refor payments The normaley aided largely by the arrival shortly armored truck from bearing sacks for the beleaguered Citizens bank. One Big The which for open the Bank Trust company, the largest banking institutions here, which closed temporarily, in the interest positors whom the banks statement declared would not cent result the closing for the 30 or days National Lake Worth the Ocean City bank of Delray the did today. No official statement issued regarding their closing today brought the to. banks which the Palm the seven. Three of these Co-Operation. Meanwhile banking officials here Tallahassee issued calling upon patrons banks Institutions "proper depositors that the open will be able to meet every deOfficials of the Citizens bank Declaring that the condition of of the suspended banks has and looking for greater the people will keep their heads. If they become frightened run bank locality. the situation become aggravated. The people themselves help Banks with, and With the proper of banks re-opened. takes community spirit over." Another reason for the recent pensions, the comptroller believed, travelers state This banks Instead of helping he declared
23.March 16, 1927The Miami NewsMiami, FL
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One White-Haired Preacher, Trying to Stop Panic, Finally Joins Crowd
WEST PALM
March long line ton of negroes staged a steady run on the United States postoffice here for heavy withdrawals from the postal savings department today. following reports circulated was widely through the colored sections throughout the night that gov ernment was going broke. More than 100 negroes awaited the opening the government building at o'clock. the number increased rapidly for several hours with mild been prevailing. half dozen negro with workers, walked backward and the depositors keep funds intact. put their adin vain. The closing of the Farmers & Trust Co. here Monthe the Citizens bank of West Palm Beach same day. made heavy from other banks the peak of the recent placing their funds the rumor that the local postoffice in dire financial starits brought run, which continued until shortly before noon. About o'clock the crowd dwindled quickly. Amusing scenes enacted height the run. haired after imploring member his congregation keep his funds with the government. finally that "Uncle Sam was losing all his The to money. aged minister abruptly ended his futile plead ings and took his place in line to withdraw his own savings. Police took immediate steps to curb any possible banditry in the negro section, additional officers were posted to maintain order ed
24.March 16, 1927The Barre Daily TimesBarre, VT
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NEGROES IN RUN ON
Excited Colored People at West Palm Beach Heard "Government Was Going Broke."
West Palm Beach, March 16, long line negroes staged steady run the United States for heavy the postal savings department following reports circulated widely through negro sections through the night More 100 negroes awaited the opening of the building seven and the rapidly for hours with mild balf negro welfare the keep funds intact, but in run followed the closing Monday the the Bank and Trust comthe Citizens' bank West Beach the Negroes have the peak financial crisis, placing their funds in the postal savings.
25.March 19, 1927Weekly Town TalkAlexandria, LA
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Negroes Hear Report "Government Is Going Broke" Withdraw Postal Savings
WEST PALM Fla., March long line negroes staged steady run on the United States for heavy withdrawals from the postal savings department today following reports circulated widely through the negro sections through night government going broke." More than 100 negroes the opening the government building and ed rapidly for several hours with prevailing. half welfare walked backward forward exhorting deposikeep their funds intact, but vain. The run closely after the closing the and Trust Monday, tothe Citizens Bank of West Palm
Beach same day. Negroes were reported withdrawals banks here the recent financial placing in the postal savings. rumor that the postoffice was in financial straits brought the which tinued shortly before noon. about o'clock the crowd dwinquickly. At the height of the run white. haired after member congregation to keep his funds with the was sufficiently by the latter that "Uncle losing all money. minister abruptended his pleadings and took his place line his own Police immediate steps curb any banditry the negro and officers were posted to maintain order.
Simpson are planning to keep for Louisiana records the United States Office following the the the federal offices Rouge, Gutherie, Okla., and feared records will the federal land office here is abandoned. and State land to such misfortune. Mr. Grace is leaving immediately for Lake conferonce Ransdell gard that taken records United States land office ent charge Rodrigue Reiley Baton Rouge. space for keeping the records in safety found and Mr. Grace the ground floor the State house. The tion the Capitol, the older portions the structure thick concrete celling and floor has been selected to house the reThese are regarded as Invaluable because the source of information they clarifies titles lands all parts of Louisiana. The ilar records Mississippi Washington has resulted much inconvenience for State. When the office the Federal was abolished ago, the records were retained State land office through efforts of Mr. Grace and Sanders, then governor.
Milan Antonia, La., announce the March 1927. Her name is Gladys Elizabeth.
MILLER Mr. and Mrs. Talmadge Miller 318 Main street, Pineville, announce the Friday, March 11, His name will Arthur Barringer.
Mrs. H. the birth of weighing pounds Baptist Hospital March 1927 will be John Robert and Mrs. B. nounce on Tuesday, 1927. Her will be Billy Rae. nounce the name will be Victor Roche Raxsdale.
Mrs. Joe Vinthe arrival son Thursday. will Glenn Garland. be membered as Miss Janie Coolye, of Pineville.
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.
