78. Southside Bank (Birmingham, AL)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
July 6, 1929
Location
Birmingham, Alabama (33.521, -86.802)

Metadata

Model
gpt-5-mini
Short Digest
2a2e69386bbe84d3

Response Measures

None

Description

Contemporary reports (July 6–7, 1929) state a run on the Southside Bank following the closing of the Woodlawn Savings Bank; officials temporarily closed the Southside Bank and announced it would reopen Monday (July 8) and that depositors wishing withdrawals would be paid. Cause appears driven by runs on nearby banks (local bank failures), not by specific misinformation or bank insolvency reported in these articles.

Events (3)
1. July 6, 1929 Run
Cause
Local Banks
Cause Details
Run was precipitated by reports of the Woodlawn Savings Bank closing (and earlier closings of other local banks), which sparked depositor panic at Southside.
Measures
Officials ordered doors closed temporarily; announced depositors wishing to withdraw would be paid promptly; state superintendent arrived to investigate.
Newspaper Excerpt
A Birmingham run on the Southside Bank following the closing of the Woodlawn Savings Bank resulted in temporary closing today.
Source
newspapers
2. July 6, 1929 Suspension
Cause
Local Banks
Cause Details
Temporary suspension/closing ordered in response to the heavy withdrawals triggered by other local bank closures (Woodlawn, City Bank & Trust, Avondale).
Newspaper Excerpt
The report of the closing of the Woodlawn Savings Bank caused a run on the Southside bank, which prompted officials to order its doors closed.
Source
newspapers
3. July 8, 1929 Reopening
Newspaper Excerpt
The Southside Bank ... will be reopened Monday, it was announced.
Source
newspapers

Newspaper Articles (23)
1. July 6, 1929 The Dothan Eagle Dothan, AL
Article from The Dothan Eagle, July 6, 1929

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WOODLAWN BANK CLOSES DOORS THIS MORNING Third Bank In Birmingham Vicinity to Close In Past Two Weeks BIRMINGHAM, July Bank closed its Woodlawn Savings doors this morning on the orders of A. W. Bell, president, following the withdrawal of several large accounts. It was the third bank to close its doors here the past two weeks. C. E. Thomas, state examiner will take charge immediately. The bank was organized in 1914 with capital stock of $50,000 and surplus, $35,000. Other banks that closed were the Avondale Bank and Savings Co., and the City Bank & Trust Co. A Birmingham run on the Southside Bank following the closing of the Woodlawn Savings Bank resulted in temporary closing today. Officials said it would be re-opened Monday.

2. July 7, 1929 The Washington Herald Washington, DC
Article from The Washington Herald, July 7, 1929

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Failure Marks Fourth Within Two Weeks and Depositors In Alabama Are Atremble BIRMINGHAM, Ala., July 6 prevailed in banking circles here tonight following the failure of two banking institutions to open their doors today and the reported drowning of Dr., W. Bell, president of one of the institutions, in the Coosa River, near Vincent, Ala. The closing of the two banks. The Woodlawn Savings Bank and The Southside Bank. brought to total four banking houses failing to open during the past two weeks. Dr. Bell president of The Woodlawn Bank. was reported to have drowned while bathing in the river with narty of friends at his home near Vincent DEPOSITORS PANICKY Search for his body is being made. Runs on other banks of the city, precipitated by the closing of The Woodlawn and Southside institutions. caused officers to keep their houses open tonight to allow depositors to withdraw their money if desired it. they The Southside Bank, which bore the brunt of heavy run in the first hours of business today after the Woodlawn institution had failed to open its doors, will be reopened Monday, it was announced. ONLY SYMPATHY RUN Judge C. E. Thomas, State Superintendent of Banks, came from Mont gomery tonight to make a study of the local situation. He said he believed the runs on the Woodlawn and Southside institutions resulted from the failure of two banks last week. The banks failing last week were the City Bank and Trust Company, and the Avondale Bank and Savings

3. July 7, 1929 The Sunday Oregonian Portland, OR
Article from The Sunday Oregonian, July 7, 1929

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TWO MORE BANKS IN ALABAMA CLOSE State Officials Take Charge of Situation. INSTITUTION HEAD DEAD Accident Follows Suspension of Business; Other Houses Suffer Runs. BIRMINGHAM, Ala., July 6.-(AP)Affairs of two banks which closed today, bringing to total of four banking institutions which have failed to open in the Birmingham district within the past days, were of the state banking officials tonight Meanwhile searching parties were doubling their efforts to locate the body Dr. A. W. Bell, president of the Woodlawn Savings bank, one of the institutions which closed today. Bell drowned today Coosa river near Vincent, Ala. He was reported to have gone swimming with party of friends shortly after he the arrived at his country place for week-end. Report Causes Run. The report of the closing of the Woodlawn bank caused run on the Southside bank, which prompted ficials to order its doors closed. Officials of the Southside bank said that closing temporary and that the bank would reopen for business Monday morning. As the report spread throughout the district, mild runs started at other banks. The runs were halted in most instances when officials announced that all withdraw their funds would be paid promptly. Judge C. Thomas, state superintendent of banks, arrived tonight from Montgomery to take charge of the banking situation here. He atthe closing the Wood lawn and Southside today to runs precipitated by the closing of the two banks last week. The banks closed last week were the City Bank & Trust company and the Bank & Savings pany. Lassiter, president of both institutions, is in hospital in New York, where he collapsed after receiving news of the closing of the banks. Cashier Wounded Fatally. John R. Wallace, cashier of the Avondale Bank Savings, died the day before the bank closed from bullet through his abdomen, said by members of his family to have been accidentall inflicted when pistol he was handling dropped to the floor and discharged. Coroner Russum rendered a verdict of accidental death. Plans for reorganization and reopening of the City Bank & Trust company completed today and Roderick Beddow, member of the board of directors and attorney for the institution, announced that more than $125,000 of the $250,000 stock proposed for the reorganized bank had He said the bank probably would reopen early week. Southside and Woodlawn banks were capitalized at $50,000. The City bank had capital of $500,000 and the Avondale bank $25

4. July 7, 1929 The Humboldt Times Eureka, CA
Article from The Humboldt Times, July 7, 1929

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Flier Slashes TRAGEDIES Rope Caught In a Second MARK BANK Plane, Saves 4 (By Associated Press) FAILURES ATLANTA Ga., July Atlanta fliers tonight owed their lives to one of their number who was quick with his knife when dangling rope from plane flight became entangled in the proIN GEORGIA peller of ship flying below it. Taking the air today to conduct an experiment in repairing the landing gear of aircraft in flight, Cashier Dead From Bullet Wound, President Drowns Head of Second Bank In Hosiptal Following Crash (By Asosciated Press) BIRMINGHAM. Ala., July Affairs of two banks which closed today. bringing to total of four banking institutions which have failed to open in the Birmingham district within the past ten days, were under investigation of the state banking officials tonight. PRESIDENT OF CLOSED INSTITUTION DROWNS Meanwhile searching parties doubling their efforts to locate the body of Dr. W. Bell. president of the Woodlawn Savings Bank, one of the institutions which closed today Dr. Bell drowned this morning in the Coosa river near Vincent, Ala. He was reported to have gone in swimming with party of friends shortly after he arrived at his country place for the The report of the closing of the Woodlawn bank caused run on the Southside bank which prompted officials to order its doors closed. Officials of the Southside bank said that closing was temporary and that the bank would reopen for Monday morning MILD START ON OTHER BANKS As the report spread throughout the district, mild runs started at other banks. The runs were halted in most instances when officials announced that all depositors wishing to withdraw their funds would intendent of banks, arirved tonight be paid promptly Judge C. E. Thomas, state super(Continued on page eight) Beelen Blevins and Bonnie Roew climbed to an altitude of 2,500 feet and maneuvered for position below second plane flown by McaKay Solenberger and W. G. Strplin Roew climbed out on the lower wing of the undreship and removwheel. while Striplin, in the ship above, began lowering away another wheel from the end of rope. Just as Roew reached out to grasp the dangling wheel. the force of the wing shipped the rope into the propeller of the lower ship. Both blades were torn off. and the rope, caught in the propeller shaft. began to wind up much in the fashion of windlass, threatening to draw the two ships into a fatal collision. Stripley instantly drew his knife, reached down and slashed the rope free The two ships careened away and Blevins put his crippled ship powerless glide. Roew into quickly recovered the original and hanging from wing strut, worked desperately to 85. He clamped the wheel place place just few feet above the in ground and lacking time to climb back into his cockpit clung to the landing gear as Blevins brought down perfect landthe plane ing cotton field Solenberger and Striplin landed safely in field short distance away

5. July 7, 1929 Star Tribune Minneapolis, MN
Article from Star Tribune, July 7, 1929

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Four Alabama Bank Closings Under Inquiry President of One Institution Drowns While in Swimming. State Official Arrives to Direct Investigation at Birmingham, July 6.-(By Associated banks which closed bringing total four institutions which failed open the Birmingham district within the past days, investigation the state banking officials tonight. Meanwhile were doubling their efforts to locate president the Woodlawn Savings bank, the institutions which closed day. drowned this morning the Coosa river near Vincent, Dr. Bell was reported to have gone in swimming with party friends shortly he arrived his country place for the week. The report of the closing of the the Southside bank which ficials its closed. Of ficials of the Southside bank said that that the bank would for business Monday Judge Thomas, state superbanks. arrived tonight from Montgomery take charge of the banking situation here. tributed closing of the Wood. lawn Southside banks today runs precipitated by closing the banks last The banks closed last week, were the City Bank Trust Co. and the Avondale Bank Savings president of both tutions York hospital where he collapsed after receiving the closing of the banks. John Wallace. cashier the Avondale Bank Savings Co., died the beforethe closed from bullet through his abdomen, said members of his family have accidentally inflicted pistol he was handling dropped floor and discharged. Coroner verdict of ac. Plans for and opening the City Bank Trust today and Roderick Beddow, the board directors and the institution, that than the stock for the bank had been He the bank would reopen early Southside Woodlawn banks capitalized $50,000. The City bank had capital of and the Avondale bank $25,000.

6. July 7, 1929 Evening Star Washington, DC
Article from Evening Star, July 7, 1929

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Attorney General to Ask Solicitor to Organize Special Grand Jury. ATTEMPT TO REBUILD FINANCIAL STRENGTH President of Savings Institution That Shut Doors Drowns While in Swimming. By the Associated Press. MONTGOMERY, Ala., July 6.-Attorney General Charles McCall of Alabama, stated tonight that he would request Solicitor George L. Balls to move at once toward organization of a special Jefferson County grand jury to investigate the recent closing of the Avondaie Bank & Savings Co. and the City Bank & Trust Co. of Birmingham. The attorney general requested that "if possible, the grand jury be convened by July 15." He stated that he and two of the State's assistant attorneys general, Judge J. Q. Smith and Judge A. A. Evans, would participate in the investigation. State Officers to Direct Auditing. The attorney general released his statement shortly after Judge C. F. Thomas, State superintendent of banks, departed for Birmingham to personally direct the audit of the books of these two banks and the Woodlawn Savings Bank and the Southside Bank, which closed their doors today following heavy runs. Judge Thomas stated that he was prepared to remain in Birmingham indefinitely and that he would "exercise the powers of my office to the limit" in an endeavor to re-establish the banks on a firm financial basis. Asks Citizens to Co-operate. He admonished citizens of Birmingham not to become alarmed and requested that they co-operate with his department in its efforts to re-open the institutions. Steady withdrawals, failure to realize on frozen loans and the desire of the directors to conserve their assets resulted in the decisions to close the banks, Judge Thomas said.

7. July 7, 1929 Evening Star Washington, DC
Article from Evening Star, July 7, 1929

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SEEK BODY OF BANKER. President of Woodlawn Savings Drowns While Swimming. BIRMINGHAM, Ala., July 6 (AP).-Affairs of two banks, which closed today, bringing to a total of four banking institutions which have failed to open in the Birmingham district within the past 10 days, were under investigation of the State banking officials tonight. Meanwhile, searching parties were doubling their efforts to locate the body of Dr. A. W. Bell, president of the Woodlawn Savings Bank, one of the institutions which closed today. Dr. Bell drowned this morning in the Coosa River, near Vincent, Ala. Dr. Bell was reported to have gone in swimming with a party of friends shortly after he arrived at his country place for the week end. Starts Run on Another Bank. The report of the closing of the Woodlawn Bank caused a run on the Southside Bank, which prompted offcials to order its doors closed. Officials of the Southside Bank said that closing was temporary and that the bank would re-open for business Monday morning. As the report spread throughout the district, mild runs started at other banks. The runs were halted in most instances when officials announced that all depositors wishing to withdraw their funds would be paid promptly. Judge C. E. Thomas, State superintendent of banks, arrived tonight from Montgomery, to take charge of the banking situation here. He attributed the closing of the Woodlawn and Southside Banks today to runs precipitated by the closing of the two banks last week. President of Bank Collapses. The banks closed last week were the City Bank & Trust Co. and the Avondale Bank & Savings Co. J. B. Lassiter, president of both institutions, is in a New York hospital, where he collapsed after receiving news of the closing of the banks. John R. Wallace, cashier of the Avondale Bank & Savings Co., died the day before the bank closed, from a bullet through his abdomen, said by members of his family to have been accidentally inflicted when a pistol he was handling dropped to the floor and discharged. (Continued on Page 2, Column 5.)

8. July 7, 1929 The Brownsville Herald Brownsville, TX
Article from The Brownsville Herald, July 7, 1929

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Bank Closing In Alabama Falls Under State Investigation Ala., affairs two banks which closed today, bringing the total of banking institutions which have failed open in the Birmingham district within the past 10 four were under investigation state officials tonight searching parties sought the body Bell. president of the Woodlawn Saving bank. of the institutions which closed today. Dr. Bell drowned in the Coosa river near Ala. was reported to have gone in swimming with of party friends shortly after arrived place the week-end. The report the closing of the bank caused run the bank officials closed Offithe Southside bank said the closing temporary and the bank would Monday. Mild started other They most when officials announced that all depositors wishing withdraw their funds would paid promptly. Judge Thomas, intendent banks, arrive tonight superfrom banking Montgomery to take charge situation here. He tributed closing of the Woodlawn and Southside banks today runs precipitated by the closing of the two banks last week.

9. July 7, 1929 The Capital Times Madison, WI
Article from The Capital Times, July 7, 1929

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4 Banks Closed In Birmingham Area President of One Drowns In River; State Investigates Situation BIRMINGHAM, Ala. (AP) Affairs of two banks which closed Saturday, bringing to total four banking institutions which have failed to open in the Birmingham district within the past ten days, under investigation the state banking officials Saturday night. Meanwhile searching parties were hunting the body of Dr. A. W. Bell president of the Woodlawn Savings bank, one of the institutions which closed Saturday. Dr. Bell drowned Saturday morning in the Coosa river. Dr. Bell was reported to have gone in swimming with party of friends. The report of the closing of the Woodlawn bank caused a run on the Southside bank which prompted to order its doors Officials of the Southside bank said the bank would reopen Monday.

10. July 7, 1929 Sunday News Lancaster, PA
Article from Sunday News, July 7, 1929

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Probe Closing Of Four Banks One President Second Accidentally Kills Himself Birmingham, Ala., July Affairs two banks which closed day, bringing total four the banking which failed open in the Birmingham district wthin past ten under vestigation the state banking tonight. searching parties were doubling efforts the body Bell, president of the Woodlawn Savings of the institutions which closed today. who drowned this morning the Coosa River Vincent. Dr. Bell was reported have gone swimming with friends shortly arrived his country place for The report of the closing of the Woodlawn on the Southside Bank prompted ficials order its closed. cials the Southside Bank said that closing temporary that bank would be open for business Monday morning. report spread throughout the district, mild runs started at other banks. Judge Thomas, state superintendent of from Montgomery banking here. He attributed the closing the Woodlawn and Southside banks today precipitated by the closing of the two banks last week The banks closed last week were the City Bank Trust Company the Bank and Savings Company. president both New York hospital where he after news the banks. John of cashier the Avondale Bank and Savings died the day before the bank closed from bullet through his by members his family to have been accidentally inflicted when tol handling dropped rendered verdict of accidental death.

11. July 7, 1929 The Selma Times-Journal Selma, AL
Article from The Selma Times-Journal, July 7, 1929

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SECOND FAILURE President Bell Dies In Coosa Near Vincent BANK CASHIER SHOT DAY BEFORE IT CLOSES Superintendent of Banks Thomas On Scene July affairs banks which closed today, bringing total four which have failin the diswithin the ten days, the State officials tonight. searching parties efforts locate the body W. Bell, the Savings Bank one of the inclosed today, the Ala. Dr. Bell reported with party of shortly after at his country place for the week-end. The report of the closing of the Woodlawn bank caused on the Southside bank which prompted officials order its doors closed. Officials of the Southside bank said that closing was temporary and that the bank would open far business Monday morning Mild Runs As the report spread through the district runs started other banks. The runs were halted in most when officials announced tha tall depositors wishing withdraw their funds would be paid promptly. banks postthat they would open late tonight necesthose seeking to withdraw deposits. Judge Thomas, state supertonight from charge the banking situation closing the Woodlawn and today to precipitated by the closing of banks The banks closed week were the City Bank and Trust Company and the Bank Savings Lassiter, president both institutions, hospital where collapsed after receiving news of the closing of the Cashier Dies John R. Wallace, cashier of the Savings pany, died the day before closed from wound his by members of his family to accidentally flicted pistol handling dropped the and discharged. Coroner rendered verdict of accidental Plans for and opening the City Bank and Company today and Roderick Beddow, member the board directors and attorney for the institution, that of the stock reorganized bank had been subscribed. He said the bank reopen early Southside and Woodlawn The capitalized $50,000. The City had and the Avondale bank $25,000.

12. July 7, 1929 The Fresno Morning Republican Fresno, CA
Article from The Fresno Morning Republican, July 7, 1929

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FOUR BANKS CLOSED falled the Birmingham district within the past days under investigation the banking officials tonight arching doubling their locate body president DE with party shortly arrived of friends for the week his country end. of the closing of the report Woodlawn bank caused run on the Southside which prompted officials to order its doors closed of the Southside bank closing temporary and that would for that the bank Monday morning the spread throughout district started the banks The nounced that all depositors withdraw funds would promptly

13. July 7, 1929 The Kansas City Star Kansas City, MO
Article from The Kansas City Star, July 7, 1929

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A CITY'S BANKS TOTTER STATE STARTS PROBE AFTER FOUR CLOSE IN BIRMINGHAM. Two Shut Doors as Result of Following Closing Others Official Kills Himself. the Associated Affairs of two banks which closed today, bringing to total four banking institutions which have failed to open in the Birmingham district within the last ten under investigation of the state banking officials tonight Meanwhile searching parties were their efforts find the body of Dr A. W. Bell, president of the Woodlawn Savings Bank one of Institutions which closed today Dr. Bell this in the River near Vincent Ala. He was to have gone swimming with party of friends shortly after he arrived at his country place for the RUN ON FOURTH BANK. The report of the closing of the Woodlawn bank caused run on the Ticials to order its doors closed OfTicials of the Southside bank said blosing was and the bank would reopen for business Monday As the report spread throughout the district, mild runs started other banks The runs were III most when officials announced all to withdraw their funds would be paid promptly Judge E. Thomas state superintendent arrived tonight from Montgomery to take charge of the banking situation here. He attributed the closing of the Woodlawn and Southside banks today to runs precipitated by the closing of the two banks last week. AN OFFICIAL COLLAPSES. The banks closed last week were the City & Trust Co. and the Avondale Bank Savings B. Lassiter, of both tions is New York hospital where he collapsed after receiving news of the closing of the banks. John R. Wallace, cashier of the City Bank Trust Co., died the day before the bank closed from bullet through his abdomen, said by memof his family have been accidentally inflicted when pistol he was handling dropped to the floor and discharged. Coroner Russum rendered verdict of accidental death.

14. July 7, 1929 The Bradenton Herald Bradenton, FL
Article from The Bradenton Herald, July 7, 1929

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2 Birmingham Banks Cease Operations July affairs banks which bringing to total four banking institutions which have failed to open in Birmingham district the under investipast ten days, state banking offigation cials Meanwhile searching parties redoubling their Dr. Bell, locate the body president the bank, the institutions which closed today, who drowned this morning the Coosa river Ala. Dr. Bell near Vincent, reported to have swimming friends shortly with party his country after home place for the closing of the The report bank caused run Southside bank which promptthe officials doors Officials of the Southside closed. bank said that closing tempoand that the would open for business Monday morning.

15. July 7, 1929 The Durham Sun Durham, NC
Article from The Durham Sun, July 7, 1929

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RUNS FOLLOW BANK FAILURES Two More Institutions At Birmingham, Are Closed BIRMINGHAM July -Excitement prevailed In banking circles here tonight following the failure of two banking institutions to open their doors today and the reported drowning of Dr. W. Bell. president of one of the inetitutions. in the Cooma river near The closing of the two banks the Woodlawn Savings Bank. and the South Side Bank, brought to total for banking houses to fall to open during the past two weeks. Dr. Bell. president of the Woodlawn bank was reported to have drowned while bathing In the river with party of friends at his country home near Vincent Search for his body is being made. Runs on other banks the city precipitated by the of the Woodlawn and Southside caused officers to keep their houses open tonight to allow withdraw their money If they desired The bank, which bore the blunt of heavy run in the first few minutes of business this morning after the Woodlawn Institution had failed open Its doors. will be reopened Monday, It was Judge C. E. Thomas state superIntendent banks came from Montgomery tonight to make study of the local situation. He said he believed the runs the Woodlawn and Southside Institutions resulted from the failure of the banks last week. The banks failing last week were the City Bank and Trust company. and the Avondale Bank and Savings company.

16. July 7, 1929 Richmond Times-Dispatch Richmond, VA
Article from Richmond Times-Dispatch, July 7, 1929

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Bank Head Drowns As Doors Close Tragedy Attends Runs On Two Birmingham Institutions Banking 4th Recent Failure Mild Runs Which Spread City Were Throughout Checked By Officials July affairs of two banks which closed The to total four bringing which failed ing in the district open ten under the State banking offivestigation tonight. Meanwhile searching parties were redoubling their efforts locate body president the Woodlawn Savings institutions which closed drowned morning Coosa near Vincent Ala Dr Bell reported swimming friends shortly arrived his try place the Woodlawn Southside closed Offithe Southside said that was temporary the bank would open for business Monday morning report spread throughout the district mild runs started other banks runs were halted instances when officials announced depositors wishing withfunds would paid promptly Several posted nouncements open as tonight those seeking deposits Judge State superintendent tonight from Montgomery charge the banking situation here tributed closing Woodlawn and Southside banks today runs precipitated closing of two banks last The closed last week the City Bank and the Avondale Bank and Savings Please Turn to Page Four

17. July 7, 1929 Ledger-Enquirer Columbus, GA
Article from Ledger-Enquirer, July 7, 1929

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Two More Banks Close Doors In Birmingham Saturday July The of banks which closed totalling four bank ing which have ed to open in the Birmingham within the under the State Banking Officials tonight searching their efforts locate the body of W. of the Woodlawn one of the closed today, drowned morning in the Coosa river near Dr. Bell was report ed to have swimming with party of friends shortly after he arrived at his country place for the end. The report of the closing Woodlawn caused run on the Southside Bank which prompted officials order doors closed. Officials of the Southside Bank said that closing was temporary and that bank would of for business Monday morning As the report spread throughout the district mild runs started other banks The ed officials announced that all depositors wishing to withdraw their funds would be paid promptly Judge Thomas, state E. from Montgomery take of charge of the banking situation to He attributed the closing of the Southside banks the to precipitated by the the closing of the week The banks closed last week were runs the City Bank and Trust Company the Avondale Bank and ings Company J. president both institutions in New York hospital where after receiving news the closing the banks Plans for reorganization and reopening Trust of the City Bank completed day and Roderick member the board of directors and torney the institution nounced that more than of the stock proposed for the reorganized bank had been subscribed He said the probably would reopen early next week. M'CALL WANTS PROBE Attorney General Charlie Call, of Alabama stated tonigh that he would request Solicitor George L. Bailes once toward organization of special Jefferson grand jury to investigate the recent closing of the Avondale Bank and Savings Company and the City Bank and Trust Company The Attorney General requested if the grand be convened by July 15. The attorney general released his statement shortly after Judge state departed for Birmingham personally direct the audit of the books these two banks and Woodlawn Savings Bank bank which closed their today following heavy

18. July 7, 1929 The Enid Morning News Enid, OK
Article from The Enid Morning News, July 7, 1929

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TWO FAIL TO OPEN SATURDAY President of One Drowns; State Officials Are Investigating fairs of two banks which closed today, bringing to total four banking institucions which have failed to in the Birmingham district within the past ten days, were uninvestigation the state bankofficials tonight. Meanwhile searching parties were doubling their efforts to locate the body of Dr Bell, president of the Woodlawn Saving bank, one of the institutions which closed day. Dr. Bell drowned this morning the Coosa river near Vincent, Ala. He was reported to have gone in swimming with party of friends shortly after he arrived at his country place for the week end. report of the closing of the Woodlawn bank caused run on the Southside bank which prompted officials to order its doors closed. Officials the Southside bank said that closing was temporary and that the bank would re-open for business r.day morning. As the report spread throughout the district. mild "uns started at other banks. They were halted in most instances when officials announced that all depocitors wishing to withdraw their would be paid promptly Official in Charge Judge C. Thomas, state super-

19. July 7, 1929 Muskogee Daily Phoenix and Times-Democrat Muskogee, OK
Article from Muskogee Daily Phoenix and Times-Democrat, July 7, 1929

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TRAGEDY SHROUDS FAILURE OF BANKS Search Is Pressed for Body of Drowned Official; Another Accidentally Shot July two banks which closed today, bringing total four instiwhich failed to open the Birmingham district within the under investigation the state banking officials tonight. Meanwhile searching parties doubling their efforts to locate body of Dr. W. Bell, president the Woodlawn bank, the institutions which closed today. Dr. Bell this morning in Coosa near Ala. He reported have gone party of friends after arrived his country place for the weekend. Close Bank Doors The report the closing of the Woodlawn bank caused run on the bank which prompted officials to order its doors closed. Officials the Southside bank said that closing was temporary that bank would reopen for business Monday morning. As the report spread throughout district, mild started other banks. They halted in officials innounced that all depositors wishing withdraw their funds would be paid Judge E. Thomas, state superin tendent of banks, tonight from Montgomery take He attributed closing of the Woodlawn and Southside today to runs cipitated the closing of the banks last week. President Collapses The banks closed last were the Bank and Trust company the Avondale Bank and Savings pany. Lassiter, of both institutions, New York pital where he collapsed after ceiving news of the closing of the banks. John Wallace, cashier of the Avondale Bank and company, died the day before the bank closed from bullet his abdomen, said by members of his family to have been accidentally inflicted when pistol he handling dropped to the floor discharged. Coroner Russum rendered verdict of accidental death. Plans for reorganization and opening of the City Bank and Trust company completed today and Roderick Beddow, member of the board of directors and attorney for the institution, that than $125,000 of the stock posed for the reorganized bank had been He said the bank probably would reopen early next Southside and Woodlawn banks capitalized $50,000. The City Bank had capital of and the Avondale bank $25,000.

20. July 7, 1929 The Guthrie Daily Leader Guthrie, OK
Article from The Guthrie Daily Leader, July 7, 1929

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FOURTH BIRMINGHAM DISTRICT BANK IS CLOSED IN TEN DAYS State Banking Officials Investigate Unusual Epidemic Of Closings-President Of One Drowns Birmingham July fairs of two banks which closed today bringing to total four banking institutions which have failed to open in the Birmingham district within the past ten davs were under investication of the banking officials tonight Meanwhile searching parties were doubling their efforts locate the body of Dr A W Bell. president of the Woodlawn Saving bank one nt the institutions which closed today Dr. Bell drowned this mornthe in the Coosa river near Vincent Ala He was reported to have gone in swimming with party of friends shortly after he arrived at his country place for the week-end The report of the closing of the Woodlawn bank caused run on the Southside bank which prompted officials to order its doors closed Officials of the Southside bank said that closing was temporary and the report spread throughout the district. mild runs started at other banks They were halted in most instances. when officials announced that wishing to their funds would paid

21. July 7, 1929 Herald and Review Decatur, IL
Article from Herald and Review, July 7, 1929

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ALABAMA BANKS CLOSED; CAUSES STATE SCRUTINY Four Institutions in Birmingham Area Fail to Open Past Week TRY TO PREVENT "RUNS" BIRMINGHAM, Ala., July of two banks which closed Saturday, bringing to total four banking institutions which have failed to open in the Birmingham district within the past ten days, were under investigation of the state banking officials Saturday night. Meanwhile searching parties were doubling their efforts to locate the body of Dr. W. Bell, president of the Woodlawn Bank, of the institutions which closed Saturday. Dr. Bell was drowned Saturday morning the Coosa river near Vincent, Ala. Had Been Swimming He was reported to have gone in swimming with party of friends after he arrived at his country place for the weekend. The report of the closing of the Woodlawn bank caused on the Southside bank which prompted cials to order its doors closed. Officials of the Southside bank said that closing was temporary and that the bank would for business re-open Monday morning. "Runs" Halted As the report spread throughout the district, mild runs started other banks. The runs were halfed most instances when officials announced that all depositors wishing to withdraw their funds would paid promptly. Judge Thomas, state supt., banks, arrived Saturday from Montgomery to take charge of the banksituation here. He attribuited the closing the Woodlawn and Southside banks runs precipated by the closing of the two banks last week.

22. July 8, 1929 The Greenville News Greenville, SC
Article from The Greenville News, July 8, 1929

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Two More Banks In Birmingham Closed BIRMINGHAM Ala July The affairs of two banks which closed vesterday, bringing to total four banking institutions which failed to in the district within the past ten days, were under the state banking officials tonight Meanwhile searching parties were redoubling their efforts to locate the body Dr W. Bell. president of the Woodlawn Savings bank, one of the instituions which closed yesterday who drowned this morning on the Coosa near Vincent. Ala Dr Bell was to have gone with party of friends shortly after he at his country place for the week end The of the closing of the Woodlawn bank caused run on the Southside bank which prompted officials to order its doors closed Of ficials the Southside bank said that was and that the bank would open for business Monday morning

23. July 8, 1929 The World-News Roanoke, VA
Article from The World-News, July 8, 1929

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ANOTHER BANK IN THE BIRMINGHAM DISTRICT CLOSES Investigation Being Conducted By State and County Officials. Ala., July banking the Birmingham district was under investigation by state and county officials today within the two its The Leeds State Bank did not open for affairs placed in the the state heavy The bank was capitalized $25,000 and surplus $25,000. Judge State superintendent of banks. arrived yesterto the the banking stated which the two the closing of two other banks two weeks ago. Attorney General Charlie McCall personal the closing two weeks ago the Avondale Bank Savings Company the City Bank and Trust Company Lassiter. of both cerns, collapsed New York advised closings and still the care were the waters the Coosa river Ala. for the Bell. president the Woodlawn Savings Bank. which Saturday. Dr Bell was ported few hours the bank while with party He member the Jefferson board review. The Southside Bank. which closed charge state officials who have started an audit of its (Continued on Page Three Column Two.)