BANK OF SARASOTA FAILS OPEN DOORS
The banking department of the state office today ported that the Bank of Sarasota failed open for business today. The bank was capitalized and on July 30 reported deposit. Gill Charles Pickett. cashier: and John Ringling. the owner. of the
2.August 30, 1932The Orlando SentinelOrlando, FL
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Bank Fails To Open
Aug. banking department the state comptroller's office today announced the Bank Sarasota failed open for busitoday. The bank's condition report of June 30 gave depesits $732,099.60. capitalized $100,000. Gill president, Charles Pickett, cashier, and John Ringling, the circus director.
3.August 30, 1932Tampa Bay TimesSt. Petersburg, FL
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Bank of Sarasota Closes Its Doors
Aug. The banking the today that Bank of Sarasota failed open for today The capitalized at and on July 30 reported $732 on deposit. was president: H. John Ringling, the circus owner, one of the
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.