81. City Bank & Trust Company (Birmingham, AL)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
trust company
Start Date
June 27, 1929
Location
Birmingham, Alabama (33.521, -86.802)

Metadata

Model
gpt-5-mini
Short Digest
0f2cee3c

Response Measures

Full suspension, Books examined

Other: Directors closed bank and state banking department took charge; later board decided to liquidate (no reopening).

Description

A run on City Bank & Trust Company began on 1929-06-27 after the Avondale Bank & Savings (Avondale Trust) was taken by the state; directors closed the bank and placed it in the hands of the state banking department. Plans to reorganize and reopen were reported in early July, but by mid-September the board decided the bank would be liquidated and would not reopen.

Events (4)
1. June 27, 1929 Run
Cause
Local Banks
Cause Details
A run was triggered immediately after the state took over the Avondale Bank and Savings (Avondale Trust), depositors rushed City Bank fearing connection (same president).
Measures
Directors held emergency meetings and decided to close and place the bank in the hands of the state banking department; police removed customers and doors were closed.
Newspaper Excerpt
A run started on the City Bank and Trust company as soon as news of the Avondale closing spread
Source
newspapers
2. June 27, 1929 Suspension
Cause
Local Banks
Cause Details
Bank suspended operations after heavy withdrawals following the Avondale bank takeover and resulting run; state banking department took charge and a liquidating agent was appointed.
Newspaper Excerpt
Judge Thomas, state superintendent of banks, taken charge the City Bank Trust company ... have appointed G. C. Lockhart ... as agent for the state liquidating the bank's affairs.
Source
newspapers
3. July 6, 1929 Reopening
Newspaper Excerpt
Plans for reorganization and reopening of the City Bank and Trust company were completed today ... the bank probably would reopen early next week.
Source
newspapers
4. September 19, 1929 Receivership
Newspaper Excerpt
Affairs of the City Bank Trust which closed ... will be liquidated on and the bank will not immediately decided meeting open, its board of directors.
Source
newspapers

Newspaper Articles (23)
1. June 27, 1929 The Birmingham Post Birmingham, AL
Article from The Birmingham Post, June 27, 1929

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AVONDALE SAVINGS AND CITY TRUST BANKS ARE CLOSED Two Institutions Cease Business Here Early ThursdayState Department Takes Over Avondale Institution While Run Causes City Firm To Close Three hours after the Avondale Bank and Savings company closed its doors and turned its affairs the over to state its banking doors. department, the City Bank and Trust company closed A run started on the City Bank and Trust company as soon as news of the Avondale closing spread and directors announced that the move was taken to the small protect depositors. Rodderick Beddow, director and attorney for the bank, said that the City bank was solvent and would pay "dollar for dollar. action was taken after an all night session of the board of directors. They decided that the connection of B. Lassiter with the City bank president and with the Avondale institution in the same capacity might start and result loss to the hundreds small depositors. Lassiter. the president both institutions, was reported to route from New York to Birmingham and was expected to arrive here Thursday night. On Tuesday night the directors of the City bank held another meeting and discussed the possibility of taking over the affairs the Avondale bank but decided that the loss would be too great, Beddow said. The directors summoned in session shortly after noon by Judge Thomas, state superintendent of banks. At the meeting was decided to place the bank the hands of the state banking department. After the meeting Judge Thomappointed G. Lockhart, vicepresident and cashier of the City bank, as liquidating agent. Judge Thomas appointed Mr. Lockhart immediately after the bank been taken over by the state banking department. Judge Thomas issued the following statement state banking department taken charge the City Bank Trust company and will begin an examination of the combooks Friday morning. have appointed G. C. Lockcashier and vice-president of bank, as agent for the state liquidating the bank's affairs. is my opinion that more than probably depositors will be paid in full. became necessary the bank when an unexpected run began absorbing the cash rapid rate. statement follow within few days. noon, police entered the City bank and herded customers the lobby out of building. The doors were then closed. large crowd began congregating and additional police from headquarters were sent to the scene to keep the crowd moving and prevent traffic jam. Officials said this was done protect the plate glass windows in the front of the building. The the two banks the first in Birmingham in more 10 say. the The City Bank Trust Co. few months and opened for business short Judge Thomas, state perintendent of and AssistFaucett were Birmingham and in charge of Avondale affairs. Statement Issued assistant state banks, who rived to take over the affairs of Avondale bank, issued the statement for Judge Thomas: Avondale Bank and Savcompany forced close the that could not realize on its enough money to care of the immedithe H. Howle and Daniel H. Thomas, examiners, making audit Thursday of the AvonThe state bank examiner's of in charge institution' affairs Confidential Audit confidential audit of the bank's books made state department ago. This report made public by the department today large gathered outside building of the spread over the Avondale Altho there was disorder, Chief of Police Fred McDuff sent two motorscouts to traffic moving. been

2. June 27, 1929 The Waukesha County Freeman Waukesha, WI
Article from The Waukesha County Freeman, June 27, 1929

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TWO OF LARGEST BANKS CLOSE DOORS BIRMINGHAM, Ala.-Two of the largest banks in Birmingham closed their doors today. Three hours after the state banking department took over the affairs of the Avondale Trust and Savings bank. a run forced the City Bank and Trust company to close. J. B. Lassiter is president of Both Institutions.

3. June 27, 1929 Astoria Evening Budget Astoria, OR
Article from Astoria Evening Budget, June 27, 1929

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Two Banks Close In Alabama; Run Is Cause of One BIRMINGHAM, Ala., June 27. of the largest banks in Birmingham closed their doors today. Three hours after the state banking department took over the affairs Avondale Trust & Savings bank, run City Bank & Trust company to close. No reason was given for closing the Avondale bank, but officials of the City bank said it closed because the directors feared the fact that B. Lassiter is president of both institutions might cause a panic and loss to depositors.

4. June 27, 1929 Brownsville Herald Brownsville, TX
Article from Brownsville Herald, June 27, 1929

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Late Bulletins NEW TEA RESOLUTION ATLANTA, Ga., June 27.-(P)The Georgia house of representatives today by a vote of 179 to 5 adopted a resolution declaring "We deeply regret the recent occurrences in the official and social life in the national capital which have a tendency to revive and intensify racial discord." PETE UNCONCERNED SAN ANTONIO, June 27.-(A)) While John M. (Pete) McKenzie with eyes closed lay on a table apparently oblivious to the proceedings, lawyers and witnesses haggled over psychology which may save the condemned man from the electric chair for slaying Detective Chief Sam Street. McKenzie is being tried on an insanity plea. Horace Coon, steward at the state prison, testified McKenzie is sane. PERMISSION GRANTED WASHINGTON, June 27.-(P)The Mexican government has granted permission to Lieutenants W. T. Larsen and Lawrence J. Carr. U. S. army aviators, to fly over Mexican territory on their projected flight to the Panama Canal zone, war department officials said today. RUN ON BANK BIRMINGHAM, Ala., June 27. -(AP)-The Avondale Bank and Trust company failed to open for business today, and shortly afterward a run by excited depositors was started on the recently chartered City Bank and Trust company resulting in an order to close from C.E. Thomas of Montgomery, state superintendent of banks.

5. June 28, 1929 The Oregon Daily Journal Portland, OR
Article from The Oregon Daily Journal, June 28, 1929

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Bank's Closing Is Cause of Run That Shuts Up Another Birmingham, Ala., June 28.-(U.P)-Two of the largest banks in Birmingham closed their Three hours after the state banking department took over the affairs of the Avondale Trust bank. run had forced the City Bank & Trust company to close. No reason was given for closing the Avondale bank, but officials of the City bank said it closed because the directors feared the fact that J. B Lassiter is president of both institutions might cause a panic and loss to depositors.

6. June 28, 1929 The Selma Times-Journal Selma, AL
Article from The Selma Times-Journal, June 28, 1929

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BANKS WILL PAY AIRPLANE FALLS ALL DEPOSITORS Two Badly Injured As Ship Plunges Into Harbor BEACH HAVEN. N. June 28. --(P)-Coast guards today sought the body of one of three passengers killed when a flying boat owned by the Curtiss Flying Service dived Into Little Egg harbor. The dead were: Leslie Broome, 22 year Frank old, chief police and Harold Potts, 26 years old; all of Beach Haven Rescuers recovered the bodies of Conklin and Potts and saved Paul Micelli, years old, pilot of the and Allison 20 years old, another passenger They fered from severe and The sea plane was flown to Beach Haven yesterday to survey the possibilities of making the town scheduled stop on the New York Atlantic City route. Micelli made several flights over the town and harbor, taking passeneach trip. On the fatal flight the engine failed at 600 and then started again at full power the plane struck the water. The pull of the propeller dipped the right wing and the plane dived and turned Micelli blamed salt In water the gasoline supply for the of failure the engine. Magic Citians Will Not Suffer Losses, Claim June in the City Bank Trust Company the Avondale Trust Savings Bank today had through ments by bank officers that they would not suffer losses through the being closed yesterday The statements were issued completed for audit of under of the state banking Thomas, banks, directing the audits. From New York were celved last that Lassiter, president of banks, collapsed his hotel when informed the He taken to hospital was understood here Lassiter to York by effort to arrange credits for his The Avondale Bank, of largest suburban tions in the-city, failed open business Frozen assets given as the reason. excited depositors descended on the newly organized City Bank police reserves called prevent property damage. the run on the bank's funds assumproportions, hurried meeting of directors called and adopted authorizing closing. Russum he Inquest day the death of Wallace, cashier of the Bank nephew of Wallace died pistol bullet wound which said received accidentally week

7. June 28, 1929 The Tuscaloosa News Tuscaloosa, AL
Article from The Tuscaloosa News, June 28, 1929

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BANK OFFICERS SAY DEPOSITORS NOT LOSE Head of Avondale Institutions Faints In New York BIRMINGHAM June (AP) Depositors accounts the City Bank and Trust company and the Avondale Trust ings Bank today had assurance through statements by bank offithat they would suffer losses through the institutions being closed yesterday The statements issued preparations were completed for an audit of accounts under supof the banking department Thomas State superintendent of banks. is here directing the audits. From New York reports were last night that Lassiter. president both banks, collapsed in his hotel room informed of the closings He taken hospital for tion that Lassiter went to New York by plane an effort to arrange dits his banks The Avoridale bank. one of the largest suburban financial institutions in the failed to open for business yesterday Frozen was given the reason Two hours later. excited depositors descended the newly ganized City Bank and police serves called out to prevent property damage the on funds assumed serious hurried meeting of directors called and resolu adopted authorizing the clos Coroner Russum that he would open an inquest the death Tuesday of today into cashier the and nephew of Avondale bank Wallace died of pistol Lassier which relatives said wound accidentally week was received ago.

8. June 28, 1929 Evansville Press Evansville, IN
Article from Evansville Press, June 28, 1929

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How Warm Is It? BANDIT WOUNDED IN GUN BATTLE DEATHS Louis A. Genpel Rites for Louis Albert Geupel, 64, 519 Oakley-st. part owner of the Geupel Brothers bookstore, 413 Main-st. who died Wednesday night at his home. will be held at the residence at Saturday. with Rev. William Dresel of St John's Evangelical church, officiating. Burial will be in Oak Hill cemetery Mrs. Bell Brown Funeral Mrs. Bell Brown. 71 widow of Walter died at the home of Miss Carrie Reichert, 504 William-st. Thursday, will held at the residence m Friday. with Rev. William N Dresel of John's Evangelical church, officiating Burial will be at Saturday at the cemetery in Ky Mrs. Brown had lived with Miss Reichert the past four years Surviving are one and and Mrs. Beard Brown. all of this = ASHINGTON President Hoover calls on nation to commemorate the services of Brig. Gen. Calmir Pulaski, revolutionary war general. ST to stop building of levee to check flood is denied. that LeJune viathan sold liquor going east bandit was wounded slightly and starts U. S. probe. two accomplices arrested here to. day when police surprised the trio BIRMINGHAM. of as they attempted to rob a garage them Avondale Bank and Trust company causes run City Bank and The authorities. acting on tip, Trust company that causes it to close. arrived to find the bandits proparing to crack the safe. The officers said they were met with volley of shots and gun battle ensued in which Robert Carman. 45, said to have served time in the Ohio State prison for rob. bing postoffice, was wounded More than 100 shots were fired and quantity of tear gas release before the trio surrendered grand The bandits. Carman. Charles jury probe will be made of death of Smith Peru, and Wilbur Craven, Mrs. Opal Hastings, wife of Dr. E. are in jail. L. Hastings of Raymond. Police said broken bottle which had contained high exploPANAMA Nicaragua govern sive was found on one of the trio. ment plans rail and road across A similar bottle was found in their automobile ROME U. may be given one nine cardinals to he named by Pope XI on July 15. APPLETON Wis Simons wounds received from friend's gun while practicing at shooting FAIRBURN. Robert Elliott Burns, Chicago magazine editor arrives at penitentiary to voluntarily resume his sentence CHICAGO Sixteen are fined for reusing précanceled postage stamps. NEW YORK carried by television for first time. Mrs. Emma W. Knofts ANEE. III Polish na Emma W tional Catholic church burns. Weather 67 1512 widow of Nathaniel who DOUGLAS Ariz rustler early Thursday will who killed Mexican youth is exe of Mrs. cuted. H. Kroener 1818 Illinois-st Atlanta Saturday Burial will in Oak Hill ciety adopts budget plan to finance emetery Surviving are illness daughter Mrs. Frank Brown SALT LAKE CITY. Utah-Shell Denver and number of explosion and injures nephews and nieces three Utah national guards. James W. Driskell MANILA Philippine Reds James at his snub Dwight Davis, who will home Oregon-st become governor general of is. Thursday The body will lands in July. taken Stanley Ky Saturday for burial White Amelia mother in of sell jail on charge three sisters Mrs Fannie ing liquor Minnie Rosemeier and Livie Mitchell MINE BLAST FATAL TO 8 United Press MRS. FERGUSON ILL Chile June 28 Eight persons were killed in preCondition mature explosion mine near has been Tocopilla, Antofagasta province 309 dispatches from that district said unchanged at noon Five today the attending nurse ly injured and 13 were slightly hurt.

9. June 29, 1929 The Anniston Star Anniston, AL
Article from The Anniston Star, June 29, 1929

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Birmingham Paper Reveals State Superintendent Presented Automobile BIRMINGHAM, Ala. June 29. in the City Bank and Trust Company, which closed here Thursday shortly after the Avondale Bank and Company had caused officials to close the doors of that today were assured bank attroneys that they would paid dollar dollar on their Investigation the affairs the banks, both headed Lassiter, still under the state bank new feature in the special being made into the closing the banks by Birmingham revealed here when learned that Judge Thomas, state superintendent banks, presented Cadillac automobile last Christmas. The state law provides that shall felony for any bank aminer receive any gift award from executive employee any bank within the state Alabama. Mr Lassiter who was missing for time following the closing of the two banks, has been located in Institute, York City, where he said have been taken following news of the closing of the two banks. Judge Thomas said that the Avondale closing was caused by failure the bank realize enough money on its securities meet the the scores of depositors who asked for their money. Judge Thomas has flatly refused to allow newspaper men to see recent reports the Avondale bank to the state banking department. Depositors of the banks Saturday were preparing to employ counsel look after their interest. The City Bank and Trust Company has been open only short time, having been organized largeby stockholders and officials of the Avondale bank. The City Bank and Trust Company had $140,000 deposit in the Avondale bank when the latter closed its doors. and this fact later caused the other bank to close, was said.

10. July 7, 1929 Leader-Telegram Eau Claire, WI
Article from Leader-Telegram, July 7, 1929

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BANKS State Opens Probe of Failures As Two Officials July banks which closed today, bringing total four banking which have failed open in the Birmingham district within past ten under investigation of banking officials tonight. Meanwhile searching parties were doubling their efforts locate body Bell, president the Woodlawn Savings bank, one the institutions which closed today. Dr. Bell drowned this mornthe Coosa river near VinAla., Dr. Bell was reported gone swimming with friends shortly after he rived his country for place week The report of the closing of Woodlawn bank caused on the Southside bank which prompted cials order its doors closed. Southside bank closing temporary and that bank would re-open business Monday morning Judge Thomas, state superintendent of banks, arrived night from Montgomery charge banking situation here. attributed the closing the Woodlawn Southside banks today runs precipitated the closing of the two banks last banks closed last bank and Trust the Avondale bank Savings president in New York hospital where he collapsed after receiving news of the closing the banks. John Wallace, cashier of the City bank and Trust company, died day before the bank closed from bullet through his abdosaid by members of his famhave been flicted when pistol he was ing dropped the floor and charged. Coroner Russum dered verdict of accidental

11. July 7, 1929 Austin American-Statesman Austin, TX
Article from Austin American-Statesman, July 7, 1929

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Develops Strength Dr. A. W. Bell Disappears While Swimming in River At Country Home To Reopen Monday Cashier Died of Bullet Wound Day Before House Closed By the Associated Press BIRMINGHAM, Ala., July 6.Affairs of two banks which closed today, bringing to total 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 10cate the body of Dr. A. W. Bell, president of the Woodlawn Saving 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 party of friends shortly after he arrived at his country place for the Run Causes Closing The 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 Monday morning. As the report spread throughout the district, mild runs started other banks. They were halted in most instances when officials that all depositors wishing to withdraw their funds would be paid promptly. Judge C. E. Thomas, state superof banks, tonight from to take charge the banking here. tributed the closing of the Woodlawn and Southside banks today runs precipitated by the closing of the two banks last week. Another in Hospital The banks closed last week were the City Bank and Trust company and the Avondale Bank and Sav. ings company. Lassiter, pres. ident of is New York hospital where he collapsed after receiving news of the closing of the banks. John R. Wallace, cashier of the City Bank and Trust company died the day before the bank closed from bullet through his abdomen, said by members his family to have inflicted when pistol he handling dropped to the floor and discharged. Coroner S. Russum rendered verdict of accidental death. Plans for reorganization and reopening of the City Bank and Trust company were completed today and Roderick Beddow, member of the board of directors and attorney for the that than $125,000 of the $250,000 stock proposed for the reorganized bank had been He sald the bank propably would reopen early week. Southside and Woodlawn banks were capitalized $50,000. The capital of $50,000 and the vondale bank $25,000.

12. July 7, 1929 The Austin American Austin, TX
Article from The Austin American, July 7, 1929

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Four Institution Shut Doors as Ru Develops Strengt Dr. A. W. Bell Disappea While Swimming in Rive At Country Home To Reopen Monda Cashier Died of Bull Wound Day Before House Closed By the Associated Press BIRMINGHAM, Ala., July Affairs of two banks which clos today, bringing to a total banking institutions which ha failed to open in the Birmingha district within the past 10 da; were under investigation of state banking officials tonight. Meanwhile searching parti were doubling their efforts to cate the body of Dr. A. W. president of the Woodlawn Savin bank, one of the institutions whi closed today. Dr. Bell drowned morning in the Coosa river ne Vincent, Ala. Dr. Bell was report to have gone in swimming with party of friends shortly after arrived at his country place for week-end. Run Causes Closing The report of the closing of Woodlawn bank caused run the Southside bank which prompt officials to order its doors Officials of the Southside bar said that closing was temporary that the bank would re-open business Monday morning. As report spread throughout the trict, mild runs started at banks. They were halted in when officials that all depositors wishing to draw their funds would be pa Judge E. Thomas, state super intendent of banks, arrived tonigl from Montgomery to take charge the banking situation here. He tributed the closing of the Wood lawn and Southside banks today runs precipitated by the closing the two banks week. Another in Hospital The banks closed last week wer the City Bank and Trust compan and the Avondale Bank and Ings company. B. Lassiter, ident of both is in New York hospital where he lapsed after receiving news of closing of the banks. John R. Wallace, cashier of City Bank and Trust died the day before the bank close from bullet through his abdomen said by members of his family have been accidentally inflicte when pistol he was handlin dropped the floor and discharged Coroner Russum rendered verdict of accidental death. Plans for reorganization and opening of the City Bank and Trus company were completed today Roderick Beddow, member of board of directors and attorney the that mor than $125,000 of the $250,000 for the had been He said bank next propably would reopen. earl week. Southside and Woodlawn bank were capitalized at $50,000. City bank had capital $50,00 and the Avondale bank $25,000.

13. July 7, 1929 The San Bernardino County Sun San Bernardino, CA
Article from The San Bernardino County Sun, July 7, 1929

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START QUIZ BANKS CLOSED SUCCESS SEEN Cashier of One Institution Is Fatally Shot and President Of Another Bank Drowns Backers Optimistic Even Though $3,000,000 Spent and Loss For First Year Expected SUCCEED IN ENDING RUNS HOPE VOLUME WILL GROW State Official Takes Charge of Situation, Says Closing of Two Caused by Fear Associated Press) BIRMINGHAM. Ala., July fairs of two banks which closed today, bringing to total of four banking institutions which have failed open in the Birmingham district within the past 10 days, were under investigation of the state banking officials tonight. Meanwhile searching were 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 he arrived at his country place for the week-end. Declare Closing Only Temporary The report of the closing of the Woodlawn bank caused run 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 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 depositors wishing to withdraw their funds would be paid promptly. Judge C. Thomas, state superintendent of banks, arrived tonight from Montgomery take charge of the banking situation here. He attriputed the closing of the Woodlawn Southside banks today to runs precipitated by the closing of the two banks last week. The banks closed last week were the City Bank and Trust Co., and the Avondale Bank and Savings Co. Lassiter, president of both institutions is in New York hospital where he collapsed after celving news of the closing of the banks. Cashier of Bank Shot to Death John R. Wallace, cashier of the Avondale Bank and Savings Co. died the day before the bank closed from bullet his abdomen, said by members his family to have accidently inflicted when pistol he was handling dropped to the floor and discharged. Coroner Russum rendered dict of death. Plans for reorganization and opening the City Bank and Trust Co. were completed today Roderick Deddon, member of the board directors and attorney for the institution, announced that more than $125,000 of the $250,000 stock proposed for the reorganized bank had been subscribed. He said the bank probably would reopen early next week. Southside and Woodlawn banks were capitalized $50,000. The City bank had capital of $50,000 and the Avondale bank $25,000. Fare Just Short of $350 and Official Admits It's High but Hopes for Reduction By CLINTON COFFIN (Associated Press Financial Writer) WASHINGTON, July Business history records few more daring ventures than that which culminates Monday when the Transcontinental Air Transport's big planes, one on each side of America, take to the air with full passenger loads inaugurate ocean-toocean service. More than $3,000,000 has been spent by the transport company before cent of return is obtained, and huge have been expended by both the Pennsylvania and the Santa Fe. Moreover, the are coldly calculating on taking regular and steady loss, running large daily totals, for least year in operation before business develops on which can be paid. More and Larger Planes Planned In spite of that outlook, and before public plane completes the scheduled jump, so certain are the transport of the public demand for the flying journey that negotiations have ready been opened for the acquisition of more and bigger planes augment the service. Paul Henderson, operating of hurried back to Washington this week from rehearsal flight over the route and has set the wheels turning for the enlargement. "Really, our transcontinental flying service starts Sunday," he said, "when the Pennsylvania passenger train pulls out of New York at with the passengers who transfer to our ship leaving Port Columbus at m., Monday. the eastbound plane parts from Angeles. Capacity the start limited to 10 passenday, and the last notice gers per have estimates that about 200 advance bookings have been made. Some them run clear ahead until October so that we are not yet guaranteed capacity loads for present equipment. Speed, Comfort Present Appeal "We can't tell yet how heavy the travel will be, but certain that speed and comfort will appeal Americans. At present the fare high, just short of $350, but can be cut when we get volume, which hope to do rather quickly. To show one advantage, on the trial trip, we dropped down from the high air to the transfer station Kingman, Ariz., with our passencool comfortable, and found ground temperature of 114

14. July 7, 1929 Evansville Courier and Press Evansville, IN
Article from Evansville Courier and Press, July 7, 1929

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STATE OFFICIALS PROBE CLOSING OF 4 ALABAMA BANKS President of One Institution Drowns and Cashier of Another Dies From Wound BIRMINGHAM. Ala., July 6.-(AP) -Affairs of two banks which closed today. bringing to total 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 the Woodlawn Savings, 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 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 that the bank would reopen for business Monday Mild runs started at other banks The halted in most when officials 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. He stributed the closing of the WoodLawn Southside banks 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 Avondale Bank and Savings company. Lassiter, president of both institutions 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 and company. died the day before the bank closed from bullet through his abdomen, said by members of his family to have acccidentally inflicted when pistol he was handling dropped to the floor and discharged. Coroner S. Russum rendered a verdict of accidental death. Plans for reorganization and reopening of the City Bank and Trust company were completed today.

15. July 7, 1929 The Evansville Journal Evansville, IN
Article from The Evansville Journal, July 7, 1929

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STATE OFFICIALS PROBE CLOSING OF ALABAMA BANKS President of One Institution Drowns and Cashier of Another Dies From Wound BIRMINGHAM. Ala., July 6.-(AP) -Affairs of two banks which closed today, bringing to total 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, 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 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 that the bank would reopen for business Monday Mild runs started at other banks The runs halted in most instances when officials that all depositors wishing to withdraw their funds would be paid promptly. Judge E. superintendent of banks, arrived tonight from Montgomery to take charge. He attributed the closing of the Woodlawn and Southside banks 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 Avondale Bank and Savings company Lassiter, president of both institutions is in New York hospital where he collapsed after receiving news of the closing of the banks. John R. 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 inflicted when a pistol he was handling dropped to the floor and discharged Coroner S. Russum rendered a verdict of accidental Plans for reorganization and reopening of the City Bank and Trust company were completed today.

16. July 7, 1929 The Macon Telegraph Macon, GA
Article from The Macon Telegraph, July 7, 1929

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BANKER DIES AS BANK SHUTS (Continued from Page One) It was announced, of heavy withdrawals following closing of the Woodlawn Two Banks Are Closed BIRMINGHAM. Ala. July (P)The affairs two banks which closed today. totaling four banking institutions have failed to open in the Birmingham district within the past 10 days, under the state banking tonight. Meanwhile, searching parties were redoubling their efforts locate the body Dr. Bell, president of the Woodlawn Savings bank, one of the institutions which closed today. who drowned this morning in the Coosa Vincent Ala. Dr Bell was reported to have gone in with party friends shortly after he arrived his country place for the week-end The report of the closing of the Woodlawn bank caused run on the Southside which prompted officials order its closed Officials the bank said that closing was temporary and that the bank would open for business Monday morning As the report spread throughout the district, runs started other banks. The runs halted in most when nounced that all depositors withdraw their funds would be paid Judge Thomas. state superintendent of banks. arrived tonight from take the He tributed the closing of the Wood lawn and Southside banks today runs precipitated by the closing of the banks last week. The closed last week were the City Bank and Trust company and the Avondale Bank and Savings of both institutions New York hospital. where collapsed after receiving news of the closing of the banks Plans and reopening of the City Bank Trust company completed today and Roderick Beddow. member of the board directors and attorney for the institution, announced that more than $125,000 the $250,000 stock for the reorganized bank had been subscribed. He said the bank probably would reopen early next week PERKINS SUCCEEDS LEGGE CHICAGO, July Perkins, years in the International company, today stepped the presidency vacated by Alexarder Legge, who resigned become chairman of the Federal Farm His announced by Cyrus McCormick, chairman of the board.

17. July 7, 1929 The M'Alester News-Capital McAlester, OK
Article from The M'Alester News-Capital, July 7, 1929

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ALABAMA BANKS CLOSE DOORS Death by Drowning of Head of One Institution Is the Cause of Run on Other Financial Depositories. BIRMINGHAM (AP)-Affairs of two banks which closed Saturday. bringing to a total four banking institutions which have failed to open in the Birmingham district within the past ten days, were under of the state banking officials Saturday night. President Drowns Meanwhile searching parties were doubling their efforts to locate the body of Dr A. W Bell president of the Woodlawn Saving bank. one of the institutions which closed Dr. Bell dorwned Saturday morning in the Coosa river near Vincent. Ala. He was reported to have gone in swimming with a 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 that the bank would re-open for business Monmorning As the report spread throughout the district. mild runs started at other banks. They were halted in most instances when officials announced that all depositors wishing to withdraw their funds would be paid Echo of Prior Cases Judge C. E. Thomas, state superintendent of banks, arrived Saturday from Montgomery to take charge of the banking situation here. He attributed the closing of the Woodlawn and Southside banks to runs precipitated by the closing of the two banks week. The banks closed last week were the City bank and Trust company and the Avondale bank and Savings company. 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 and Savings company 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. Coroner J. S. Russum rendered a verdict of accidental death. Plans for reorganization and reopening of the City bank and Trust company were completed Saturday 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 been subscribed He said the bank probably would reopen early next week. Southside and Woodlawn banks were capitalized at $50,000. The City bank had capital of $500,000 and the Avondale bank. $25,000.

18. July 8, 1929 The Salisbury Post Salisbury, NC
Article from The Salisbury Post, July 8, 1929

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ALA. INDUCE HYSTERIA Search For Drowned Bank Official Continues Birmingham, Ala., July 8 search continued for the body Bell, president of the closed Woodlawn Savings bank. reported have been drowned Saturday morning, state banking officials city moved guard against further closure suburban banks restore the shaken confidence the citirelative to the banking situaCitizens were called upon banking leaders, the president the commission and in newspaper editorials to "quit worrying about banks and to stop hysteria that has threatened the city since the closing of the four suburban banks. Residents of near Vincent. Ala., where Dr. reported have been drowned. dragged the Coosa through last night but had found trace the body. port drowning said Dr. Bell apparently seized with cramps and carried down by the swift cur: Meanwhile, Lassiter. president the City Bank Trust company and Avondale and Trust company. continued New York hospital, where he has been since he collapsed when his banks were closed. John Wallace. cashier of the Avondale bank, died the day before that bank closed from pistol wound have been accidentalinflicted. Coroner Russum returned verdict accidental death. Meanwhile, preparations were ing made County Bailes and Attorney General McOall for grand jury vestigation the closing banks. The grand jury schedwas uled convene today. its officers and that reopen Other banks reported last night that they were good condition despite heavy withdrawals Saturday. The officials expressed confidence that banks would be able meet all emergencies.

19. July 8, 1929 Corsicana Daily Sun Corsicana, TX
Article from Corsicana Daily Sun, July 8, 1929

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FIFTH BANK IN BIRMINGHAM, ALA., DISTRICT CLOSES GENERAL MOVE TO RESTORE CONFIDENCE BEING PUSHED BY CITIZENS LEEDS. Ala., July 8.-(P)-The Leeds State bank failed to open its doors today. Officials announced the affairs of the institution had been placed in the hands of the state banking department following heavy run on Saturday. The Leeds bank was the fifth to close in the Birmingham district within the past two The institution was capitalized at $25,000. While search continued for the body of Dr. W. Bell, president of the closed Woodlawn Savings bank, reported to have been drowned Saturday, state bank officials and city leaders moved today to guard against further closure of suburban banks and to restore confidence. Citizens were called upon by the banking leaders, the president of the city commission and in newspaper editorials to "quit worrying about the banks and to stop wave of hysteria that has threatenfairs ed the city since the closing of four suburban banks. Residents of near Vincent, Ala., where Dr. Bell was reported to have been drowned, dragged the Coosa river but found no trace of the body J. B. Lassiter, president of the week. City Bank and Trust company and the Avondale Savings and Trust company, continued ill in a New York hospital where he has been since he collapsed when his two banks were closed. John R. Wallace, cashier of the Avondale bank, died the day before that bank closed from pistol wound said to have been accidental. CARD OF THANKS We take this method to thank all those who assisted us in any way during the recent sickness and death of our dear sister and moth- May the Lord reward you for your faithfulness is our prayer. Mrs. Tommie Shumpert, Mrs. Georgie Bromley. Mrs. T. H. Bowden, Mrs. L. K. C. Fluker, Mrs. Hugh Loper, Mrs. Ben Webb, H. W. Harion, J. D. Marion. DIED SUDDENLY. Mr. and Mrs. Lanier Walton left Monday for McKinney where they were called on account of the sudden death of Mrs. Walton's uncle, Glenn Mr. Stiff has a number of friends in Corsicana, he having resided in this city several months during the construction of the interurban line into Corsicana. He is a retired capitalist.

20. July 8, 1929 Transcript-Telegram Holyoke, MA
Article from Transcript-Telegram, July 8, 1929

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TRAGEDIES MARK BANK One Official Dies in River, Another from Bullet Wounds, in Alabama Four Are Now Closed. Ala., banks banks which closed Saturday, bringing total four institutions hich have open in the Birmingham district within the last days. under vestigation of the state banking offi- searching parties trying to locate the body Dr. Bell. president the Woodlawn Savings Bank. one the two Institutions which closen, Bell gone party friends after his for the The of the closing of the run on the Southside offiorder its Officials the Southside bank said that closing temporary report spread the district. mild started banks. were halted most when officials nounced that wishing withdraw their funds would be paid promptly state attributed the closing the Woodlawn and banks precipitated by closing the banks last week banks closed last week City Bank and Trust Co. the vondale Bank and Lassiter, president both institutions, New York hospital. where receiving news the closing of the banks John Wallace, the Avondale Bank and Savinga Co., died the day before the bank closed from bullet through his abdomen, said members his to have been accidentally tol he was handling dropped the floor and discharged. Coroner Russum rendered verdict dental Plans for reorganization and opening the City Bank and Trust completed Roderick Beddow, member the board of rectors attorney for the institution. that more than 000 the stock the reorganized bank subscribed. Southside and Woodlawn banks capitalized Bank had capital and the Avondale bank, $25,000. Joseph W. Grover. 53. proprietor the Elm Tree Tavern Greenfield. under bonds. Grover's arrest followed shooting of Edward Whalen Whitman July when some boys who were playing Fourth July pranks stopped in front of the tavern. Westboro's new town hall dedicated the 23rd. The structure white stone and brick, in colonial design and cost $150,000. four which would leave about necessary within the next two three Surplus Against this there now the treasury and remaining from bond issue for improvements can spent at the year. program of immediately neces. improvements as many of the projects. the fears. may have be financed by increases taxation rates forms of taxation the refusal the legislative chiefs to agree bond to finance needed hospital His fears ou this are because the financing the hospital program from will apfrom isting hospital made by the the plan the Republican leaders have advo.

21. September 19, 1929 Southern Aegis Ashville, AL
Article from Southern Aegis, September 19, 1929

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The annual convention the Alabama Woman's Christian Union will be held at than Oct. and Mrs. Florence Farish, former Colbert County home demonstration agent, has assumed duties as home agent Calhoun County. Charles Stripling, widely known Kennedy fiddler, was awarded first prize the annual old-time fiddlers' contest Fayette recently. Miss Jewel Mathews suffered severe burns when she trapped beneath overturned automobile the Bee Line Highway, south of Decatur. Carmichael, of Tuscumbia, among the three members of the State Board of education reappointed by Gov. Graves for the coming six years. Loss from fire that swept through the second floor of the McCulla Tyler Baking Company, Birmingham, caused an approximate loss $30,000. Jefferson County Grand Jury has started an investigation into the mysterious death of Owen K. Cameron, Linger Longer Lodge, Birmingham. Gilbert, chief deputy and employe in the Jefferson County sheroffice for 18 years, has been marily discharged by Sheriff Downs. Brown, Birmingham, fined and his driver's license was pended for months by Judge Abernethy on charges of reckless driving. Prof. Willis Russell, former structor in Johns Hopkins University, has been added to the English faculty College for the coming An expansion program under way the Tennessee, Alabama Georgia yards Gadsden. More than will be spent for expandterminal facilities. 570-acre tract land northwest Fairhope, Baldwin County, has selected the for the Gulf Coast Agricultural Experiment Station. Hornbuckle, pugilist, known under the name Jack Edwards was arrested Alabama City police warrant from Shelby, which charged first degree murder. Preparations are under way by the State Department of Game and Fisheries for its first annual fresh water fishing contest, which will and continue through the month. Sheriff Holdbrooks, Elmore County, reported frustration plot to liver from the county prisoner had planned to assist the the First National Bank Wetumpka. municipality that provides pubpublic the benefit inhabitants required to pay state county license specified the enue laws, Assistant Attorney General Evans ruled an opinion for warded the city attorney RussellAla. Mobile police were holding bear charges of robbery after had been captured in the residence Megginson. of Selma, was charged with reckless driving following an automobile accident the Selma Highway near Montgomery which several persons were injured. The honor of being the first to register the University Alabama went to two Miss Mortinare Wilfreshmen co-eds, and Ruth Evans, both of caloosa. An unmasked white man who, after entering the home of Mrs. HayMontgomery, under the pretext den, radio repair man, suddenly of being and escaped, after drew pistol ing $220 money. Affairs of the City Bank Trust which closed Company, Birmingham, its door July will be liquidated on and the bank will not immediately decided meeting open, its board of directors. Joseph Dodsen Choate, 26, cleared degree murder charges because insufficient evidence. The charges against him followed the slayRex Wright, Montgomery lice officer. Aug. Will Williams being held in the Jail charge of Bessemer County with intent to murder, in conassault with the shooting Harvey nection the home Williams on Dabbs the Taylor's Ferry Road. Weatherly, secretary and for the Dothan Chamtraffic manager announces that the Commerce, has begun drive for organization continued until members, the desired results are accomplished. Eugene Poff, Ardmore, Ala., bound by taurant operator, Clem, preliminary Judge Athens await action hearing in with the the Grand Harry Ardmore slaying Sept. Eufaula Bank Trust ComThe which opened for business two pany, in Eufaula with capital years stock met heavy the all checks presented. Bank officials claim the warranted. Gist, state and federal agricultural statistician, his monthly cotton report, which was based ditions Sept. estimated Alacotton yield this bama's prospective bales, bales year more harvested in 1928. The Mobile County Board of Rev. has adopted resolution that the county with and federal in promoting growth and safety the forests Mobile County and has authorized devoted appropriation operation this program. Commissioner Seth Storrs been authorized by the State Board Agriculture start negotiations with Alabama Polytechnic Institute for establishing radio receiving the offices all county demonstration agents Alabama, where tests have been approved.

22. September 20, 1929 The Phenix-Girard Journal Girard, AL
Article from The Phenix-Girard Journal, September 20, 1929

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ALABAMA NEWS A resume of the more important events of interest gathered from all sections of the State. A municipality that provides publie park or amusement in a public park for the benefit of its inhabitants is not required to pay state or county license as specified in the 1919 revenue laws, Assistant Attorney General A. A. Evans ruled in an opinion forwarded to the city attorney at Russellville, Ala. Commissioner Seth P. Storrs has been authorized by the State Board of Agriculture to start negotiations at once with Alabama Polytechnic Institute for establishing radio receiving sets in the offices of all county demonstration agents in Alabama, where reception tests have been approved. The Mobile County Board of Revenue has adopted a resolution proposing that the county join with the state and federal governments in promoting growth and safety of the forests in Mobile County and has authorized an appropriation to be devoted exclusively to operation of this program. F. W. Gist, state and federal agricultural statistician, in his monthly cotton report, which was based on conditions as of Sept. 1, estimated Alabama's prospective cotton yield this year at 1,216,000 bales, or 97,000 bales more than were harvested in 1928. The Eufaula Bank & Trust Company, which opened for business two years ago in Eufaula with capital stock of $50,000, met a heavy run by the payment of all checks presented. Bank officials claim the run was unwarranted. E. M. Weatherly, secretary and traffic manager for the Dothan Chamber of Commerce, announces that the organization has begun drive for new members. to be continued until the desired results are accomplished. Will Williams was being held in the Bessemer County Jail on charge of assault with intent to murder. in connection with the shooting of Harvey H. Dabbs at the home of Williams on the Taylor's Ferry Road. Joseph Dodsen Choate, 26, was cleared of first degree murder charges because of Insufficient evidence. The charges against him followed the slaying of Rex C. Wright, Montgomery police officer. on Aug. 22. Affairs of the City Bank & Trust Company, Birmingham, which closed its door on July 6 will be liquidated immediately and the bank will not reopen, it was decided at a meeting of Its board of directors. An unmasked white man who, after entering the home of Mrs. C. C. Hayden, Montgomery, under the pretext of being radio repair man, suddenly drew pistol and escaped, after taking $220 in money. Sheriff Holdbrooks, Elmore County, reported frustration of plot to deliver from the county jail a prisoner who had planned to assist in the robbery of the First National Bank at Wetumpka. The henor of being the first to register at the opening of the University of Alabama went to two freshmen co-eds, Miss Mortinare Wilson and Miss Ruth Evans, both of Tuscaloosa. Scores of Dixie's leading flower and plant culturists, representing nine Southern states, were in Birmingham for the three-day convention of the Southern Nurserymen's Association. H. L. Williams, of Selma, was charged with reckless driving following an automobile accident on the Selma Highway near Montgomery in which several persons were injured. A 750-acre tract of land northwest of Fairhope, in Baldwin County, has been selected by a survey committee as the site for the Gulf Coast Agricultural Experiment Station. A. J. Hornbuckle, a pugilist, known under the name of Jack Edwards was arrested by Alabama City police on warrant from Shelby, N. C., which charged first degree murder. A. H. Carmichael, of Tuscumbia, is among the three members of the State Board of education reappointed by Gov. Graves for the coming six years. Loss from fire that swept through the second floor of the McCulla & Tyler Baking Company, Birmingham, caused an approximate loss of $30,000. Miss Jewel Mathews suffered severe burns when she was trapped beneath an overturned automobile on the Bee Line Highway, south of Decatur. Charles Stripling, widely known Kennedy fiddler, was awarded first prize at the annual old-time fiddlers' contest at Fayette recently. Mrs. Florence Farish, former Colbert County home demonstration agent, has assumed her duties as home agent in Calhoun County. The forty-fourth annual convention of the Alabama Woman's Christian Temperance Union will be held at Dothan Oct. 29, 30 and 31. Preparations are under way by the State Department of Game and Fisheries for its first annual fresh water fishing contest, which will open Oct. 1 and continue through the month. Prof. I. Willis Russell, former instructor in Johns Hopkins University, has been added to the English faculty at Birmingham-Southern College for the coming year. J. H. Brown, Birmingham, was fined $25 and his driver's license was suspended for six months by Judge H. B. Abernethy on charges of reckless driving.

23. September 25, 1929 Our Southern Home Livingston, AL
Article from Our Southern Home, September 25, 1929

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ALABAMA NEWS A resume of the more important events of interest gathered from all sections of the State. A municipality that provides a pub Iic park or amusement in a public park for the benefit of its inhabitants is not required to pay state or county license as specified in the 1919 revenue laws, Assistant Attorney General A. A. Evans ruled in an opinion forwarded to the city attorney at Russellville, Ala. Commissioner Seth P. Storrs has been authorized by the State Board of Agriculture to start negotiations at once with Alabama Polytechnic Institute for establishing radio receiving sets in the offices of all county demonstration agents in Alabama, where reception tests have been approved. The Mobile County Board of Revenue has adopted a resolution proposing that the county join with the state and federal governments in promoting growth and safety of the forests in Mobile*County and has authorized an appropriation to be devoted exclusively to operation of this program. F. W. Gist, state and federal agricultural statistician, in his monthly cotton report, which was based on conditions as of Sept. 1, estimated Alabama's prospective cotton yield this year at 1,216,000 bales, or 97,000 bales more than were harvested in 1928. The Eufaula Bank & Trust Company, which opened for business two years ago in Eufaula with a capital stock of $50,000, met a heavy run by the payment of all checks presented. Bank officials claim the run was unwarranted. E. M. Weatherly, secretary and traffic manager for the Dothan Cham ber of Commerce, announces that the organization has begun a drive for new members, to be continued until the desired results are accomplished. Will Williams was being held in the Bessemer County Jail on a charge of assault with intent to murder, in connection with the shooting of Harvey H. Dabbs at the home of Williams on the Taylor's Ferry Road. Joseph Dodsen Choate, 26, was cleared of first degree murder charges because of insufficient evidence. The charges against him followed the slaying of Rex C. Wright, Montgomery police officer, on Aug. 22. Affairs of the City Bank & Trust Company, Birmingham, which closed its door on July 6 will be liquidated immediately and the bank will not reopen, it was decided at a meeting of its board of directors. An unmasked white man who, after entering the home of Mrs. C. C. Hayden, Montgomery, under the pretext of being a radio repair man, suddenly drew a pistol and escaped, after taking $220 in money. Sheriff Holdbrooks, Elmore County, reported frustration of a plot to deliver from the county jail a prisoner who had planned to assist in the robbery of the First National Bank at Wetumpka. The honor of being the first to register at the ninety-ninth opening of the University of Alabama went to two freshmen co-eds, Miss Mortinare Wilson and Miss Ruth Evans, both of Tuscaloosa. Scores of Dixie's leading flower and plant culturists, representing nine Southern states, were in Birmingham for the three-day convention of the Southern Nurserymen's Association. H. L. Williams, of Selma, was charged with reckless driving following an automobile accident on the Selma Highway near Montgomery in which several persons were injured. A 750-acre tract of land northwest of Fairhope, in Baldwin County, has been selected by a survey committee as the site for the Gulf Coast Agricultural Experiment Station. A. J. Hornbuckle, a pugilist, known under the name of Jack Edwards was arrested by Alabama City police on a warrant from Shelby, N. C., which charged first degree murder. A. H. Carmichael, of Tuscumbia, is among the three members of the State Board of education reappointed by Gov. Graves for the coming six years. Loss from fire that swept through the second floor of the McCulla & Tyler Baking Company, Birmingham, caused an approximate loss of $30,000. Miss Jewel Mathews suffered severe burns when she was trapped beneath an overturned automobile on the Bee Line Highway, south of Decatur. Charles Stripling, widely known Kennedy fiddler, was awarded first prize at the annual old-time fiddlers' contest at Fayette recently. Mrs. Florence Farish, former Colbert County home demonstration agent, has assumed her duties as home agent in Calhoun County. The forty-fourth annual convention of the Alabama Woman's Christian Temperance Union will be held at Do. than Oct. 29, 30 and 31.