Article Text
Three Miami, Florida Institutions Fail; First National Has Run On Fla., Feb. determined run on the First National bank began during the noon hour today, following the failthree other Miami financial institutions.
First National Bank (Miami, FL)
Episode Information
- Episode UID
637001538- Episode Type
- Run Only
- Bank Type
- national
- Bank ID
-
63700national - Charter Number
- 6370
- Start Date
- February 6, 1928
- Location
- Miami, Florida (25.774, -80.194)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
a01e9b14d9d49d0c
Response Measures
Accommodated withdrawals, Fed/other loan, Public signal of financial health, Books examined
Events (2)
1.
August 8, 1902
Chartered
- Source
- historical_nic
2.
February 6, 1928
Run
- Cause
- Rumor Or Misinformation
- Cause Details
- Circulation of anonymous letters signed Hiram (bearing a Masonic emblem) warning depositors to withdraw funds, which precipitated runs and closures of three other Miami banks.
- Measures
- Approximately $7,000,000 in cash requisitioned/sent from the Federal Reserve Bank branch in Jacksonville by airplane and train; tellers paid withdrawals and officials distributed cash in the lobby.
- Newspaper Excerpt
- run on the First National bank began during the noon hour today following the failure three other Miami financial institutions to open for business today.
- Source
- newspapers
Newspaper Articles (17)
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Three Miami Banks Fail To Open -Three Miniul banks failed to open for business today. They wore the Southern Bank and Trust Company, the Citizens' Bank and the Bank of determined THE OIL the First Nahour today following the fallure of tions to open for business Inday. The 12:30. Other large banks reported normal bustonss conditions. Officers of the First National Bank mingled with the crown In the lobby Heren million dollars In cash will be sent to Flost Nuttonal Bank by Jacksonville by airplane and train to pay nil who wish to Ing all orderly run on the bank.
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Three Miami Banks Close, Heavy Run Begins On Fourth Fla., Feb. run on the First National bank began during the noon hour today following the failure three other Miami financial institutions to open for business today. bank's large lobby dated all who sought to gain adLarge banks reported normal Officers First National with crowd the lobby could not The bank's regular closing time was p.m.
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ACTION CLOSING THREE OTHER MIAMI Miami, million dollars cash the First National bank Federal Reserve bank branch Jacksonville by airplane and all depositors who withdraw their funds, officials local institution announced afternoon following orderly bank growing out closing of three other local cial institutions morning. The three banks that open for business today Southern Bank and Trust pany, the Citizens bank, and Bank of The Bank and Trust company requested Comptroller Amos assume charge of its fairs pending nances, following heavy withdraw. deposits caused circulation of anonymous leters predicting failure. President Lummus bank said that "large demands during the last days been caused letters writen to depositors and them to "quietly your money the The letters, said, were sign "Hiram" bore crudely drawn Masonic Police are seeking to trace sender. President Lummus said that deposits in funds were fully protected.
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BANKS Run on Fourth Follows Circulation of Letters Signed "Hiram" and Bearing Masonic Symbol. Miami, Feb. deterthe First National bank began during the noon hour Monday, following the failure three other Miami financial Institutions open for day. The large lobby commodated all sought gain up to 12:30. The three banks that failed to open for business were the Southern Bank and Trust company, the Citizens bank and the Bank of Allapattah. Anonymous Letters Cause Run. The Southern Bank and Trust company requested Comptroller Amos assume charge its fairs pending strengthening of finances, following heavy withdeposits caused by circulation anoymous letters predicting its failure. Mr. Amas ordered the other institutions not to open in lief were not financial position large drawals. which might result from the closing the Southern Bank and Trust In announcing that the Southern Bank and Trust company had suspended business but would reopen March 15, and that the state comptroller had taken charge the request its officials, President Lummus said: demands for cash during the last few days had been caused anonymous letters written depositors advising them quietly get your money out of the Southern bank." Masonie Emblem on Letters. The letters, he said, were signed and bore crudely drawn emblem. Police are seeking trace the sender. President Lummus said deposits open accounts and trust funds fully Other large banks reported normal business conditions.
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To Send Cash MIAMI, Fla., Feb. in cash will be million dollars First National Bank to the Reserve Bank the Federal by Jacksonville by airbranch in to all deand train pay plane who wish to withdraw positors officials of the local their funds, institution announced this afternoon following an orderly run out of the the bank growing on other local finanof three closing cial institutions this morning.
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Runs Close Three Miami Banks BANKS CLOSE FOLLOWING RUMOR SPREAD BY ANONYMOUS LETTERS RUN STARTED ON FOURTH FIRM MIAMI, Fla., Feb. 6. (AP). Seven million dollars in cash be sent to the First National bank by the federal bank branch in Jacksonville airplane and train to all who wish to their funds, officials of the local institution announced this afternoon following an orderly run on the bank growing out of the closing of three other local financial institutions this morning. Feb. termined run on the First National began during the noon hour today the failure three Miami institutions to open for business today The large lobby all who sought to gain adup to Other large banks reported norbusiness the First tional bank mingled with the crowd in the lobnot be immediately for The bank's regular closing time was m. Miami banks failed to open for business the Trust the Bank and the Bank of The Southern Bank & Trust company requested Amos to assume charge of its affairs pending of following heavy of deposits caused by circulation letters predicting Its failure Amos, ordered the innot the belief that they were not financial poals which might result the of the company Under could operate he said, adding that there had been no sign of run at either In that the Southern Bank Trust had pended but reopen March the state comptroller had taken the of its President quest Lummus said in statement that "large for cash durhad been letters writcaused by ten and advising them to quietly your money out of the Southern bank. he signed "Hiram," and Masonic They mailed January 28 Miami, but Mr. Lummus to their than "more than dozthat there Some sent to persons were not depositors, he added. are seeking to trace the Bank & Trust comSouthern capitalized $100,000 had $5,138,112.11 Saturday night the Allapattah deposits, institution had $15,000 capital and deposits estimated at $110,000
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MIAMI BANKS FAIL TO OPEN FOR BUSINESS Heavy Run on Fourth Bank Bank Made by Anxious Customers Before Noon ORDERED CLOSED Three Banks in Failing Condition are Ordered Not to Open Doors to Public MIAMI, Fla., Feb. determined run on the First National bank began during the noon hour today following the failure of three other Miami financial institutions to open for business today. The bank's large dated all who sought to gain admittance up to 12:30. Officers of the First National bank mingled with the crowd in the lobby and could not be reached immediatefor statement. The bank's regular closing time was MIAMI, Fla., Feb. 6. Miami banks failed to open for business today. They were the Southern bank and Trust company, the Citizens Bank and the Bank of Allapattah. The Southern Bank Trust company requested Comptroller Amos to assume charge of its affairs pending strengthening of finances, following heavy withdrawals of deposits by circulation of anonymous letters predicting its failure. Mr. Amos ordered the other institutions not to open in the belief that they were not in financial position to withstand large withdrawals which might result from excitement incident to the closing of the Southern Bank & Trust company. Under normal conditions they could operate, he said, adding that had been no sign
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THREE MIAMI BANKS CLOSE DUE TO RUN Started On First National Bank; $7,000,000 Rushed to That Bank by Airplane. ANONYMOUS LETTERS ARE CAUSE OF RUN Southern Bank First to Close, Then Two Other Smaller Ones; Investigation Started. By Associated Press. Miami, Fla., Feb. 6.-Seven million dollars in cash will be sent to the First National Bank by the Federal Reserve Bank branch in Jacksonville by airplane and train to pay all depositors who wish to withdraw their funds, officials of the local institution announced this afternoon following an orderly run on the bank growing out of the temporary closing of three other local financial institutions this morning because of run on them caused by circulation of anonymous letters advising depositors to withdraw their accounts. The bank's large lobby accommodated all who sought to gain admittance up to 12:30. Normal Conditions. Other large banks reported normal business conditions. Officers of the First National Bank mingled with the crowd in the lobby and could not be reached immediately for a statement. The bank's regular closing time was The Southern Bank and Trust Company closed its doors following heavy withdrawals of deposits caused by circulation of anonymous letters dieting its failure. Comptroller Amos was asked to assume charge of its affairs pending strengthening of its assets. The Citizens Bank and the Bank of Allapattah also were closed. Not Strong Enough. Mr. Amos ordered the other institutions not to open in the belief that they were not in financial position to withstand large withdrawals which might result from excitement incident to the closing of the Southern Bank and Trust Company. Under normal conditions they could operate, he said, adding that there had been no sign of run at either place.
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HALTRUNS ON MIAMI BANKS Sender of Mysterious Letters Are Sought By Officials MIAMI, Fla., Feb. 7.-(A))-Financial circles in this city today were reacting from the cumulative effects of "more than a dozen" anonymous letters which precipitated suspension of one bank's business, brought on temporary closing for two others and were responsible for an orderly but determined run on a fourth institution. Meanwhile, police sought the mysterious author of an indeterminate number of letters mailed Jan. 28 in Miami, signed "Hiram," and adorned with a crudely drawn Masonic emblem. "Quietly get your money out of the Southern Bank and Trust company; it is going soon," these letters said, in varying language, but similar substance. Results of these missives today had included: Taking over of the Southern Bank and Trust company by State Comptroller Ernest Amos at the instance of bank officials, stimulated to this step by heavy withdrawals. Orders by Comptroller Amos that the Citizens' Bank and the Bank of Allapattah, small institutions. temporarily close to avoid possible demands on their resources. A run on the First National Bank which kept tellers busy until closing time handing out money to depositors as they demanded it. Other institutions of the city today had prepared for their possible part in the emergency. Increased supplies of currency had been requisitioned. Nearly all of them experienced slight withdrawal increases early yesterday, but several n ported later that deposits showed a jump, the City Naitonal announcing a $400,000 boost,
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LETTERS RUN ON BANK Miami, Fla., Institution, Forced to Suspend Others Affected Miami, Feb. letters predicting the failure bank caused that suspend business today, sulted indirectly the temporary closing of two others, brought about fourth which called from federal in Jacksonville bolster its The but started noon the First National bank that Ernest Amos, comperoller, had taken affairs the Bank and and the Bank of Allapattah temporarily closed. Explaining he had taken control Bank and Trust instance ficials caused the of the letters, Amos said he ordered the other banks closed through fear they might able to He made for cool declaring the banks would have been able to remain open under normal conditions.
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IS RUSHED TO BANKS Note Held Refor Trust Company Closing REASON FOR ALARM Feb. in cash was being Miami today to assure the First National Bank that institution banks closed their runs on the First after not thousand dollars airplane from Reserve additional $5,500,000 today. that yesterthe runs on anonymous depositors attacking the Southern Bank and The notes were signtoday the man for Southern Bank and Trust to open its doors there the Citizens Bank of the Bank of Allapattah. of the Trust Company, closed after the and place instituErnest rather than probably would be control, which have Southern condition business March 15. other two banks could normal could not stand any have as tense situation.
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SENT HIGH SCHOOL PROBE TO FLORIDA BANK PLANNED First National of Miami Takes Precautions After Three Institutions Close. Fla cash was being brought Miami today of of the of after banks closed their alight on the after the other banks had closed follow million hundred thousand dollars brought airplane Re ad ditional being that closed yes the Southern Company The au for the responsible the When Bank Trust failed to open its doors the Citi Bank of Miami and the Bank of At president of the Bank and Trust closed after the he the insti hands of Ernest probably be Shortly assuming control the condition to reopen for business March banks business under normal could not run curred AS of the tense South Bank and Trust pany was at and last night had posits of Citizens' Bank of Miami also capitalized at 480 the Bank of Allapattah had stock of of Grand Jurors' Ass'n Names Committee Some Institutions Being on Double Time. Grand members are of the Grand of that county has ap pointed to undertake an subject high school modations Queena The has called affects only the but the elementary pupila Not the borough high double but all the children of one the apportioned various schools to make for the classes It probable the of the Grand has the of Philip No. and of the Allied Associations of la member Grand Mr. Mc in the Ridgewood ergreen. Metropolitan for high school In Ridgewood recent Mr 900 children be loss said also that that Maspeth in on and those at the by Mr All 66 in Richmond has been for high school and the elementary class youngsters quotas schools of the the top floor of S. HID is exclusively for high chool purposes
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RESERVES OF MIAMI BANKS EASE TENSION Three Banks Forced to Close by Sudden Run Will Reopen MIAMI, Fla., Feb. 8 (United Prese). police sought the mysterious note writer, who warned against depositing money in several Miami banks and thereby caused runs that forced three to close, other banks to-day reported the tense financial situation had eased. There were some withdrawals from the Bank of Biscayne but officials said that these were by "penny savers with small accounts and that their reserve was in excellent shape. Officials of the First National Bank who had more than six million dollars brought in from the Federal Reserve Bank at Jacksonville-sa their ac counts were in excellent shape They said the crowd in the lobby yesterday was no greater than at any other day of a mid-season rush and there probably would be no need of the additional cash brought in. The Southern Bank and Trust Com pany had closed Monday after notes signed "Hiram" had been passed around. warning of the bank's condition. Runs forced the Citizens' Bank of Miami and the Bank of Allapattah to close. All three institutions were taken over by the State Benking Department. and the Southern Bank probably will be 10. opened about March 15. State exam iners said the Citizens' Bank and the Bank of Allapattah were in good shape. but in no condition to stand a run.
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BANKS IN FLORIDA WEATHER CRISIS Police Seek Man Wrote Notes Closed Three Institutions. police sought mysterious writer. warned against money several Miami banks and thereby caused that forced them close, other banks today ported the tense financial situation There some from Bank Biscayne. but ficials that these were "penny with small and that their reserve shape Officials the First National brought in the Federal Reserve Bank at their accounts in excellent The Bank and Trust Company had closed Monday after notes signed "Hiram," had been passed warning of the bank's Runs forced Citizens Miami and Bank Allapattah close
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BANKS IN FLORIDA WEATHER CRISIS Police Seek Man Wrote Notes Closed Three Institutions. Miami, Feb. police sought mysterious note writer, warned against depositing money in Miami banks and thereby caused runs that forced them close, other banks today ported the tense financial situation eased. There withdrawals Bank Biscayne, but ficials that these were their reserve was in excelOfficials the First National more brought from Federal Reserve their accounts in excellent The Southern Bank and Trust closed Monday after notes signed passed around. warning bank's condition. Runs forced Citizens Bank Bank to close.
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Letter Predicting Failure Starts Run banks their and fourth the throes on it the result of ure of the National here. The run started on the First tional Bank following word Ernest Amos, affairs Southern Bank and Trust ordered the Bank Bank Allapattah temporarily closed. Explaining he had taken control the and Trust the of its Company ficials because of by the circulation Amos said anonymous ordered the they might not through fear weather possible National with The First of from the several millions Federal Reserve was