gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2d86eda379d70d0b
Response Measures
None
Description
Grand jury found 'grave irregularities' and the president was indebted to the bank.
Events (3)
1.July 6, 1929Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals of large accounts after discovery of irregularities and indebtedness of the president; runs in district precipitated panic.
Measures
Closed doors to protect depositors; bank did not open for business and was declared defunct.
Newspaper Excerpt
The Woodlawn Savings Bank closed its doors this morning ... following withdrawal of several
Source
newspapers
2.July 6, 1929Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension/closure followed heavy run and later findings of grave irregularities and the president's indebtedness.
Newspaper Excerpt
The Woodlawn Savings Bank closed its doors this morning ... following withdrawal of several
Source
newspapers
3.August 22, 1929Receivership
Newspaper Excerpt
petition... named the American Traders National Bank, receivers for the estate of Dr. Bell ... appointed receiver in decree handed down by the court August
Source
newspapers
Newspaper Articles (24)
1.July 6, 1929The Selma Times-JournalSelma, AL
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FAILURE OF RESULTS SECOND
Southside Institution Will open Monday
STEADY WITHDRAWAL OF ACCOUNTS CAUSE
Thomas Says No Reason For Alarm In iStuation
BIRMINGHAM, Ala., July run on the bank the closing this of the SavIngs Bank, caused closing of that today, officials said the band would open business Monday morning. The Woodlawn Savings Bank closed its doors this morning order Dr. Bell, president, following withdrawal of several The Woodlawn Bank was the third to close doors in the Birmingham district within the past two weeks. Withdrawal of large accounts had going on for the last week, Robertson, teller the bank, today, and It was deemed wise to close to the protect depositors. bank organized in Nowith capital stock of $35,000. The two banks which failed last the City Bank Trust Company the Avondale Trust Savings Bank. Banks Reorganized July Reorganization of the City Bank and
2.July 7, 1929The Salisbury PostSalisbury, NC
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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.
3.July 7, 1929Leader-TelegramEau Claire, WI
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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
GRAND JURY SIFT ASKED FOR BIRMINGHAM BANKS
MONTGOMERY, Ala., July 6 (AP).—Atty.-Gen. Charlie C. McCall, of Alabama, stated tonight that he would request Solicitor George L. Bailes to move at once toward organization of a special Jefferson county grand jury to investigate the recent closing of the Avondale Bank and Savings company and the City Bank and Trust company in 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.
The attorney-general released his statement shortly after Judge C. E. Thomas, state superintendent of banks, departed for Birmingham to direct personally the audit of the books on these two banks and the Woodlawn Savings bank and the South Side bank, which closed today following heavy runs.
5.July 7, 1929The Sunday RecordColumbia, SC
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Birmingham Banking Circles Stirred By 2 More Failures
Reported Drowning of President of One Closed Bank Increases Excitement
BIRMINGHAM, Ala., July 6.-Excitement prevailed in bankcircles here tonight, following the failure of two banking institutions to open their doors today and the reported drowning of Dr. A. W. Bell, president of one of the institutions, in the Coose river near Vincent, Ala.
The closing of the two banks, the Woodlawn Savings bank and the South Side bank, brought to total four banking houses to fail to open during the past two weeks. Dr. Bell, president of the Woodlawn, reported drowned while bathing in the river with party of friends his country home Vincent. Search for his body is being made. Runs banks of the city, the the Woodlawn and South Side institutions, officers to houses tonight allow depositors withdraw their money if The South Side bank, which bore the brunt run in the first minutes of business this after the Woodlawn institution had failed to open its doors, reopened Monday, it was announced Judge E Thomas, state superintendent of banks, came from Montgomery tonight make study of situation. He said he the runs and South Side institutions from the the banks last week. The banks failing week were the City Bank Trust the Avondale Bank and Savings company.
6.July 7, 1929The Portsmouth StarPortsmouth, VA
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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.
7.July 8, 1929Rapid City JournalRapid City, SD
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Move to Halt Bank Panic in Alabama
Birmingham, for the body of president the closed Woodlawn savings bank, who was reported been drowned Saturday state bank officials and city leaders moved today guard against ther closure of subburban to restore shaken Citizens were called upon leaders, the president and paper editorials about the banks and stop of hysteria that has threatened the since the closing four subburban banks."
Martin Martin gravel streets.
8.July 8, 1929The Peninsula Times TribunePalo Alto, CA
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Article Text
LEEDS, July Leeds State Bank failed open its today. Officials nounced that affairs the institution had been placed the hands of the State Banking. Department, following heavy Saturday. The Leeds bank the fifth close Birmingham district within the past weeks. Lindon president of the institution which capitalized $25,000 and had surplus of similar amount.
Aala., July search continued body Dr. Bell, president the closed Woodlawn Savings Bank, who reported have been drowned Saturday morning, state bank officials and city leadmoved today guard against further closure banks restore shaken confidence. Citizens were called upon banking leaders, the president the city commission and newspaper editorials "quit about the banks to stop that ened since the closing of four suburban banks."
FIFTH BANK IN BIRMINGHAM, ALA., DISTRICT CLOSES
GENERAL MOVE TO RESTORE CONFIDENCE BEING PUSHED BY CITIZENS
LEEDS, Ala., July 8.—(AP)—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 a heavy run on Saturday. The Leeds bank was the fifth to close in the Birmingham district within the past two weeks. The institution was capitalized at $25,000.
BIRMINGHAM, July 8.—(AP)—While search continued for the body of Dr. A. 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.
10.July 12, 1929The Huntsville TimesHuntsville, AL
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INQUEST FINDINGS TO BE DELAYED
BIRMINGHAM July announced today that in the inquest inthe death Saturday Dr. Bell, preisdent of the defunct Woodlawn Savings bank and a member of the Jefferson county board revenue would not be available for publication until week. The report together with chemcal analysis of the contents of Dr. Bell's stomach will be submitted to Solicitor Paul O. Luck of Shelby county. The viscera forwarded the state chemist at Auburn Dr. Bell drowned in the Coosa rivnear Vincent, county, short while after his bank had closed its doors. Four witnesses were questioned by Coroner Russum and Coroner ker of Shelby yesterday. Dr. S. Wallace Birmingham general hospital testified he was director of the Woodlawn bank and that he had discussed reopening of the bank Dr. Bell shortly before the ter left for his Vincent. said Dr. Bell had declared against of the institution to protect its small depositors. Walter Chancellor, Coosa river ferryman, testified found the fish trap. He in the arms and indicated the victim had been seized with cramps. other witnesses were Tom W. Glenn, caretakers of Dr. Bell's plantation, who were of swimtime his death. They said Dr. Bell cried out that he had been cramps before disappearing. Their efforts were futile to reach him. Funeral services for Dr. Bell were conducted yesterday afternoon with churchmen of the board of revenue acting as
11.July 18, 1929The Sand Mountain BannerAlbertville, AL
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ONE OF CLOSED BANKS REOPEN IN BIRMINGHAM
Southside Bank Resumes Business Without Incident Monday
Birmingham, Ala., July Southside Bank, which closed its doors during heavy run on its by depositors, opened for business Monday. State bank who completed an audit of the bank's accounts last week, declared "solvent iting the confidence of the public." The reopening was without cident. Manor, president of the institution, said the hours of business were normal as the closing had merely been over the week end. Lassiter, president of the Avondale Bank Savings Company and the City Bank Trust Company, two the five financial institutions to close here early this month, issued his statement on the closings today which he asserted the belief depositors will paid in Lassiter turned from New York Thursday he made an effort to raise money for his banks and prevent their closing. He collapsed when informed the banks and since has been under the care of physicians. not try to run Lassiter said of his trip. went New York in an effort to raise to save the banks, but the money crash came too soon. My first purto the banks and to pose reopen this end will bend my every energy." Meanwhile plans were going forward to the Woodlawn reopen Savings Bank and Leeds State Bank, the other of five banks to close, with national charters.
12.July 26, 1929The Selma Times-JournalSelma, AL
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DISCOVERS BANKS PROBE
Found In Debt To Woodlawn Institution
PARTIAL REPORT MADE AFTER INVESTIGATION
Mention Made Of Three Other Failures
BIRMINGHAM. Ala., July Jefferson county grand jury returned partial report on its activities in Investigating banking practices Birmingham today charged "grave irregulariwere found in the method of handling runds of the defunct Woodlawn Savings Bank The report Dr. president the bank. had found indebted to the extent thousands of dollars" Dr. Bell while wimming with friends in the Coosa near July hour beclosed doors result of heavy by depositors. His declared accidental by our desire to protect the dethe Woodlawn the said recommend that action be taken the agent prevent dispoof funds of Dr. Bell's any The report did not mention the of its three other banks the diswhich closed early this month. were the Savings Trust City Bank and and Leeds State The Bank of Biringham closed for one week, but has reopened. With submission of its report. grand jury 30 allow state auditors. the closed bank, continue their work.
(Continued on Page Two)
JURY WORKS ON BANK FAILURES
Alabama Jurors Report On Grave Irregularities
BIRMINGHAM, Ala., July 26.-(AP) Charges made today in a partial report of the Jefferson county grand jury of "grave irregularities" in the handling of funds of the defunct Woodlawn Savings bank were followed closely by reports here and in Montgomery that the attorney general's office is conducting an investigation to determine if Dr. A. W. Bell late president of the bank actually died by accidental drowning, as his relatives and friends claim. There was no confirmation of reports published in Montgomery that Attorney General Charlie C. McCall has ordered an independent investigation. The Alabama Journal said detectives working under McCall were investigating the case from three angles-that Dr. Bell did accidentally drown, that he committed suicide, was slain and his "ody thrown into the Coosa river. The
14.July 27, 1929Ledger-EnquirerColumbus, GA
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Bank Irregularities Reported By Birmingham Grand Jury
BIRMINGHAM. Ala., July 26. (/P) Charges made tday in partial report of the Jefferson county grand jury of "grave irregularities" in the handling of funds of the defunct Woodlawn vings Bank were followed by reports in Montgomery that attorney general's office conducting investigation determine if Dr. W. late president of the A. bank actually died by accidental drowning his relatives and friends claim. There no confirmation of report published in that Attorney Charlie McCall has ordered an independent investigation. The Alabama grand jury Journal said detectives working unbased upon its investigation of der McCall were investigating the case from three angles-that Dr. drown, that Bell did accidentally he committed suicide or was slain and his body thrown in the Coosa river. The paper amid its information came from "reliable sources' but did not disclose the basis for the Testimony at the inquest was that Dr. Bell drowned on July 6. while swimming with friends and within an hour after run on his bank had forced its closing. The coroner not returned diet. McCall would not comment on the report. In submitting the partial report
15.July 28, 1929Kingsport TimesKingsport, TN
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"Irregularities"
In Banking Found
BIRMINGHAM, Ala., July 26 (AP) — The Jefferson county jury returned a partial report on its activities in investigating banking practices in Birmingham today which charges that "grave irregularities" were found in the method of handling funds of the defunct Woodlawn Savings Bank.
The report declared Dr. A. W. Bell, late president of the bank, had been found to be indebted to the extent of "many thousands of dollars" to the bank. Dr. Bell drowned while swimming with friends in the Coosa river, near here, July 6, an hour before the bank permanently closed its doors as a result of a heavy run on its resources by depositors. His death was declared accidental by the coroner.
"In our desire to protect the depositors of the Woodlawn Bank," the report said, we recommend that immediate action be taken by the liquidating agent to prevent disposition of any funds of Dr. Bell's estate.
The report did not mention the result of its investigation concerning three other banks of world.
16.August 11, 1929The Selma Times-JournalSelma, AL
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Shriners Petition For Bank Receiver
BIRMINGHAM. Ala., Aug. 10.(P)-Charging that Judge C. E. Thomas, state superintendent of banks, has shown himself not to be the proper person to act as liguidating agent of the Woodlawn Savings Bank. the Prophets Benefit association of Kamram Grotto, today filed a petition in chancery court asking receiver for the bank. The petition also charges that Thomas has failed to faithfully perform his duties in reference to supervision of the bank and that he is liable for the amount of his bond, $25,000. and also to the extent of loss sustained by the depositors. The association sets forth in its petition that it had on deposit in the bank total of around $80.000 when the Institution closed its doors Hearing has been set for August 21 before Judge William Walker.
WINS GOLF CROWN Lyon. of Pontiac. Ill., 19-year-old sophomore at the University of Illinois, Is western junior golf champion. title acquired after six years of effort. Lyon yesterday conquered Bill Redmond. of Joliet, Ill., also 19 years old and junior at Notre Dame, in the 36-hole final at LaGrange Country club, by a 5 and 4 margin.
17.August 21, 1929The Anniston StarAnniston, AL
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Contempt Charges Face Bank And Liquidatng Agent
BIRMINGHAM, Ala., Aug. C. Thomas, state superintendent of banks, now on leave of absence, and Horace Wilkinson, who has been acting as liquidating agent for the closed Woodlawn Savings Bank will face citation for contempt of court Monday following granting of petition today by Judge M. Walker. in chancery court this effect. The petition was filed by Goodwin and Company. and named the American Traders National Bank, receivers for the estate of Dr. W. Bell, who was president of the Woodlawn bank. party to the bill. Thomas and Wilkinson were charged in the petition with having "failed and refused to deliver certain insurance policies to the receiver as required by court order."
18.August 22, 1929The Evergreen CourantEvergreen, AL
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Thomas Cited For Contempt
Birmingham, Ala., Aug. Thomas, state superintendent of banks now on leave of absence, and Horace Wilkinson, who has been acting as liquidating agent for the closed Woodlawn Savings bank, will face citation for contempt of court Monday following granting of petition today by Judge William M. Walker in chancery court. The petittion was filed by Goodwin and Company and named the American Traders National bank, receivers for the estate of Dr. Bell, who was president of the Woodlawn bank, party to the bill. Thomas and Wilkinson were chargin the petition with having "failed and refused to deliver certain insurance policies to the receiver requirby court order." The bank was appointed receiver in decree handed down by the court August The petition alleges that insurance policies included in the decree and now in the possession of Wilkinson had not been delivered to the bank as ordered. It also states that Oliver Street, counsel for the bank, has been denied the policies.
19.August 25, 1929The Huntsville TimesHuntsville, AL
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WILKINSON CLAIMS HE HAS RETAINING ORDER
BIRMINGHAM, Aug. 24 (AP)Horace Wilkinson, liquidating agent for the defunct Woodlawn Savings Bank, announced here tonight had obtained an from Judge Walker from hearcharges against him Monday for his produce certain on the life of Bell. late presibank Members of supreme court could be reached ery tonight confirmation Wilkinson Judge C. E. Thomstate banks leave of absence, was dered to appear chancery court here Monday Wilkinson clined to the insurance American Traders Naappointed receiver for the estate of petition filed by persons said of Dr. Bell to give the policies the bank was granted by Judge refusing give the policies to the bank attorney for the estate Bell and dethe ey and its Mrs. Bell, widthe late bank direct-
20.November 6, 1930The Birmingham NewsBirmingham, AL
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Cent Likely As Firms Willing To Settle
With settlement of all insurance claims on the life of Dr. W. Bell expected within next few Idend of 25 per may be before Christmas depositors of defunct Woodlawn Savings Bank. of which Bell was president. This learned attorney First Bank, receiver for several in Bell's against which surance pending signified willingsuits are to claims. for settlement claims been against entered Judge Denson, and remain- Pritchsaid he expected get cases set for settlement. American will the First consent judgment entered Wedneswas awarded the and judgment Equitable Life Assurance The Act without policy for $3,000 Pritchard question involved In the The cases whether not Dr. Bell some the that sufficient proof has not been said State Superintendent Banks claims aggregating and suits pending policies totaling These and involved American Bonding and Pacific Mutual $20,000: National Protective Life Company all claims paid. Pritchard said, legality of claims widow and Woodlawn and loan must settled in Court before dividends can be declared for depos-
21.November 24, 1930The Birmingham PostBirmingham, AL
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$20,000 BELL POLICY SETTLED
Settlements Of $170,000 Have Been Made
Settlement of an additional life insurance policy the life of Dr. president of the Woodlawn Savings bank, was Monday by Pritchard, attorney for the receiver of the Bell estate. Pritchard stated the Pacific Mutual Life Insurance nad agreed to pay the face value of its policy for and that other companies which had issued policies the life of Dr. Bell had indicated they would settle. The settlement agreed by Pritchard and Pacific Mutual brings the total settlements surance more than settlement of $135,000 was several weeks ago with the American Life Insurance policies totaling other small policies ranging between $5,000 and $500 have been settled. This money has been turned over to the First National bank, receiver for the bank will hold the money until Judge William Walker directs its disposition.
22.November 28, 1930The Anniston StarAnniston, AL
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Additional $20,000 On Life of Bell Paid by Company
BIRMINGHAM. Ala., Nov. (AP)-William 8. Pritchard, attorney for the First National receiver for the estate of the Dr. A. W. Bell, former president the defunct Woodlawn Savings Bank, has announced settlement of an additional $20,000 in insurance on the life of the late banker. The sum brought the total amount collected on insurance more than $170,000, Pritchard said, with $142,000 still to be collected, He announced a dividend of 25 to 30 per cent would be paid depositors soen.
23.December 23, 1930The Birmingham NewsBirmingham, AL
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DIVIDEND NOT READY
Payments To Depositors In Defunct Woodlawn No will be for depositors in the defunct Savings Bank before Jan. announces cashier Wahouma Savings Bank. which liquidating agent for the closed bank. Dickson said did know when dividend would be stating that he proceeding as speedily as possible Iquidation of its Much of insurance on the life Dr. W. Bell, president defunct was reported drowned. been paid through court settlement. William Pritchard. attorney First receiver for estate Bell, nounced several weeks ago that dividend probably would declared for depositors in the bank soon aftthe life suits were tled and paid.
24.June 4, 1931The Birmingham PostBirmingham, AL
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HEARING ON DR. BELL INSURANCE IS OPENED
Hearing of claims against money collected on insurance policies of the Dr. W. Bell, president of the Woodlawn Savings Bank, began in before Judge Russell McElroy. $175,000 has been turned over to the First National Bank on policies that held by Dr. Chief for the fund the Woodlawn Savings Bank, the Woodlawn Building & Loan association, Mrs. Bell. and creditors of Dr. Bell. The body of Dr. Bell was reported found in the Coosa river few days after closing of the Woodlawn Savings Bank in July, 1929.
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.
