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TWO BIRMINGHAM BANKS ARE CLOSED AFTER HEAVY RUNS (By Associated Press) banks closed doors today following heavy of deposits by officials the closing ten days ago of other bankinstitutions here. The Woodlawn Bank closed this morning with the announcement that funds were not available to meet and Its affairs turned over state banking Southside Bank closed the that H business Monday morning. The latter closed, of heavy withdrawals following closing of the Woodlawn Bank
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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.
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Two Alabama Banks Closed Sat.; Of Official Is Sought Birmingham. Ala., July affairs banks which closed today bringing total four banking institutions which have failed open in the Birmingham district the past ten days, under the state banking officials tonight Meanwhile were redoubling efforts locate the body Dr. Bell. dent the Woodlawn Savings bank. one of the institutions which closed today drowned this morning the Coosa river Vincent. Ala Dr. Bell reportto have gone swimming party of friends shortly after he arrived his country place for the week end The report of the closing of the Woodlawn caused run on the Southside bank which prompted officials order its doors closed Officials the Southside bank said that closing temporary that the would open for business Monday morning.
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Grand Jury To Probe Closing Of Banks. Montgomery, Ala., July Attorney of tonight that would request George Balles at once toward ganization Jefferson county grand jury recent closing the Avondale Bank and and the City Bank and Trust company Birmingham. The requested that, the jury by July stated he and two the Judge Smith Judge would participate in the investigntion. The released statement shortly after Judge Thomas, banks, for personally direct the audit books of these two banks Bank South Side Bank closed day following heavy
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BIRMINGHAM'S FOURTH IN TEN DAYS FAILS TO By Associated Press. July fairs of two banks which closed today. total four banking Institutions which have district failed open the Birmingham past were under of state banking officials lonight their efforts to locate the body W. Bell, president the Woodlawn Saving Bank, one the which closed today. Dr. this Ing the River cent, Dr. Bell reported have In friends shortly rived at his country place for the The of the closing of the the Southside officials order doors Officials the Bank said that closing temporary and that the bank would open business Monday morning the spread throughout started other banks. halted most Instances when nounced that all withdraw their funds would wishing paid promptly. Judge Thomas, state take charge the closing of the Woodlawn Southalde Banks today precipitated by the closing the banks week The banks week were the Bank Trust Avondale Bank and Savings Company (Continued on Page Column
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Bank Closing In Alabama Falls Under State Investigation July affairs two banks which closed today, bringing the total of banking institutions which have failed open in the Birmingham district within the past days four were under investigation of state tonight. searching parties sought the body Bell, the Woodlawn Saving bank, the institutions which closed today. Dr. Bell in Coosa river Vincent. was reported to have gone with of friends shortly after he arrived his country place the The report the closing of the caused Southside bank which clais of the Southside bank said the closing temporary that the bank would Monday. Mild runs started at other banks. officials halted in instances when They announced that all denoswishing to withdraw funds would be paid promptly. intendent Judge Thomas, state superbanks, arrive tonight Montgomery take charge the situation here. tributed the closing the Woodlawn and Southside banks today precipitated by the closing the two banks last week.
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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.
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Closing Of Banks Is Investigated BIRMINGHAM, Ala., July 6. (AP) The affairs of two banks which closed today, bringing the total of banking institutions which have failed to open in the Birmingham district within the past 10 days to four were under investigation of state officials tonight. Meanwhile, searching parties sought the body of Dr. A. W. Bell, president of the Woodlawn Saving bank, one of the institutions which closed today. Dr. Bell drowned 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 a run on the Southside bank which prompted officials to order it closed. Officials of the Southside bank said the closing was temporary and that the bank would re-open Monday. Mild runs started at other banks. They were halted in most instances when official announced that all depositors wishing to withdraw their funds would be paid promptly.
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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.
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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
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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.
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President of Bank Drowns Three Hours After Firm Closed BIRMINGHAM, Ala., July 6.-Three hours after the bank of which he was president closed its doors today, Dr. Bell drowned while swimming in the Coose river, near his Vincent, Ala., country home. Bell had gone to Vincent directly after the bank. the Woodlawn Savings, posted the closing announcement. With two tenants he had looked over the farm. coming at last to the river bank where group of men were swimming. "You fellows seem to be enjoying yourselves. I'll take swim, too," he was quoted as saying. A few minutes later those In swimming heard a cry and saw Bell being swept away in the current. The Woodland Savings bank. an institution with assets of $1,054,651 and the South Side bank. capitalized at $50,000. closed at Birmingham today. They are both suburban banks.
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FAIL Body Of One Official Being Sought; Total Crashes Is who Brought To Four July (AP) Afneck bringing struck ing failed open Birmingham within the past under investigation the state banking tonight. Meanwhile searching parties fused efforts locate body Dr president bank, one the institutions closed today Bell near He was reported gone in with friends arrived his country place for week The report the closing the Southside ficials ficials bank said and the bank would reopen for business the spread throughout the mild runs made started other banks halted when ficials wishing their funds would promptly Judge Thomas super tonight the the banking situation here He closing the today by closing of the the closed week Bank company the Bank and Savings Lassiter both New York hospital celving news of the closing of the banks. John Wallace cashier of the died the day before the closed urged through his said members his family have he was handling dropped a verdict of cidental
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INVESTIGATE CLOSING OF FOUR BRIMINGHAM Ala. July 6.-(AP) two banks which affairs closed today making total of four banking institutions which have failed open the Birmingham district within the past ten days, investigation of the state were banking officials tonight. parties were their efforts locate the redoubling body W. president the Woodlawn Savings Bank. one the institutions closed today, drowned this morning in the who River near Vincent, Ala. Dr. Bell was reported to have gone swimming with party friends shortly he arrived his counplace for the The report of the closing of the Woodlawn run the Southside which prompted officials to order its doors closed. Officials the Southside Bank said that closing was temporary and that would business Monday morning.
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Two More Birmingham Banks Close; Hunt President's Body Official Attributes Closed Doors of Woodlawn and Southside Institutions to Runs Precipitated by Other ClosingsOther Houses Avert Bell Not Yet Found After Swimming Party. July four banking which have failed Birmingham within investigation banking tonight. efforts Bell. president Woodlawn the stitutions which closed drowned morning reported friends his country place for Other Runs Start The report closing caused ficials the closing temporary bank reopen business Monreport spread throughout the district started banks that depositors wishing to withdraw funds would paid they necessary those seeking to withdraw deThomas state superintendent banking Southside banks the closing the two banks would George toward Bank and Trust Birmattorney general requested that possible grand stated that Smith Judge would in
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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
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BANK SITUATION IS INVESTIGATED Three-way Inquiry Started in Birmingham After Fifth Bank Fails to Open. Birmingham, Ala., July banking situation in the Birmingham district was under three way by state and officials today the as bank within the two weeks falled to open its doors. The Leeds State bank did not fairs placed in the hands of state banking department follow ing heavy Saturday Judge Thomas, state superintendent of that runs which caused banks close Saturday precipitated by closing of two other banks weeks Attorney General tion the two ago of the Avondale Bank and Savings the City Bank Trust of both in City when advised the and is the of physiMotor were searching for the body of Dr prest dent bell Was reported to have a few hours after the bank closed The Southside which closed Saturday is in charge of state officials who have started an audit accounts. John R. Wallace. cashier of the vondale bank. died the day be: fore the bank closed of bullet the which was said to been accidentally inflicted.
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SOUTHSIDE BANK REOPENS Closed July 6, it was Found Solvent And Meriting Confidence BIRMINGHAM, July 15-(AP)The Southside bank, which closed its doors July 6 during a heavy run on its resources by depositors reopened for business today. State bank examiners who audit of the bank's last it and meriting the confidence of the public." The without dent. Maynor, president of the institution, said the first business was as if the colsing had merely been over the weekend. J. B. Lassiter, president of the Bank Savings Company and the City Bank Trust Company, two of the five institutions to early this month, issued his first on the today in which he asserted the belief depositors will "be paid in Lassiter returned from New York Thursday where made an effort to for his banks and their He collapsed when informed the banks had closed and since has been under the care of physicians. "I did not try to run away," Lassiter said of his trip. went to New York in an effort to raise money to save the but the crash came too My first to open the banks and end will bend my every energy."