Bank of Bay Biscayne (Miami, FL)

Episode Information

Episode UID
63005771566
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
6300577 routing
Routing Number
63-0057
Start Date
June 11, 1930
Location
Miami, Florida (25.774, -80.194)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2d406c030ae2ac1a

Response Measures

None

Description

Multiple articles report heavy withdrawals June 11 leading to closure; subsequent litigation and appointment of a liquidator indicate permanent closure.

Events (3)
1. June 11, 1930 Run
Cause
Rumor Or Misinformation
Cause Details
Heavy withdrawals triggered by unfavorable talk and public uneasiness about the banks, producing a run on deposits.
Measures
Approximately $2,000,000 in cash rushed by airplane from Jacksonville and additional funds sent to bolster liquidity.
Newspaper Excerpt
The Bank of Bay Biscayne, Miami, with $15,000,000 deposits and three affiliated banks, closed today after heavy runs.
Source
newspapers
2. June 11, 1930 Suspension
Cause
Rumor Or Misinformation
Cause Details
Directors closed the bank after substantial withdrawals (a suspension of payments following the run).
Newspaper Excerpt
The Bank of Bay Biscayne ... failed to open today. statement by directors of the bank attributed the closing to recent substantial withdrawals.
Source
newspapers
3. June 24, 1930 Receivership
Newspaper Excerpt
Claims that the officers of the Bank of Bay Biscayne knew it was insolvent nine days before it was closed ... asked that a receiver appointed by the court take charge of the bank's assets ... June 24.-Claims ... were made in a suit for a receivership filed ... today by James G. Hawkins and his wife, depositors.
Source
newspapers

Newspaper Articles (22)
1. June 11, 1930 Morning Pioneer Mandan, ND
Article from Morning Pioneer, June 11, 1930

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Hot News Briefs By The Associated Press LaFollette urging defeat the tariff bill calls plete betrayal Hoover's pledge limited revision give culture equity with industry.' Additional equipment was sent blazing forest gions near Port Arthur, Ont., striving to check numerous Dry weather has caused fires to break out Advance arrived Stillwater the convention the North Dakota Auxiliary. Unable to save feet timber Birch Lake, miles east Prince Albert, Sask., forestry officials ed fire fighters to other where there chance to check the wildfire. The Inland today charged ful practice in house service shippers ing the water Mrs. Walburga Oesterreich, wealthy widow Los Angeles, today granted separate trial from "attic Otto she jointly indicted for the murder of her husband. Several hundred women worn five days the biennial the Nation Federation Clubs, sought rest retreats today. Sessions will be resumed Thursday. There are women at Valley City from Cass Barnes and counties enrolled the first Homemakers Club camp The Civil War closed In 1865. Today there were just War veterans North Da. kota left to attend the annual meeting the which today Valley City, The Relief however, had 129 registered. the Minnesota Lutheran district the Evangelijoint Synod Ohio other opened today St. Paul. Plans are being perfectthe Ohio, Iowa Buffalo Synods. George Kirk, 64, commandof Knights Templar, Bemidji, died his home in Bemidji, Minn., today. Donald Cash, 14 year old Mapes since Fri day when he thrown from showed improvement today More than broadcasting tions participate in the broad the Thursday night. Mrs. Alice Eikor, 74, niece of Gen. Robert Lee, died last night in Oklahoma City. Chief Justice and Mrs. Hughes daughter Elizabeth, sailed toon the Leviathan for southern Europe. fell over territory stretching from Wilton to Underwood and the nity Van Hook yesterday. In addition heavy rains fell area between Mandan and Dickinson. Dr. Ernesto Rossi, Italian wine taster manufacturer, foreign visitor who under stand objection strict pro hibition enforcement. His opinion based after drink bootleg wine. Funeral services be held Edmore, tomorrow for Hans Myhre, 59, who succumbed Sunday injuries ceived fall off grain tank during runaway last week. Four deputy sheriffs of Sedgwick county Kansas, arrested day charges of violate the prohibition Mrs. C. Bohmbach, wife Red Wing, Minn., alderman, found dead the cistern her home today. She been ill for several years. North Dakota Laundry Own convene Devils Lake, with expected. shortage of $308,000 the First National Bank at Chey. bongone, Mich., Clyde Milliken, savings teller committed Monday will be paid in full to depositors. Chief of Police Henry C. Knipe, Kans., arrest under federal for violating prohibition laws. The Bank of Bay Biscayne, Miami, with $15,000,000 deposits and three affiliated banks, closed today after heavy runs. June fishing schooner Rainbow arrived Boston fish day with of the bodies of the disaster The bodies, recovered scene last night's those seven men, two women, and baby French inventor's home heavily bar pivoted to that an arm and same time.

2. June 11, 1930 Lexington Herald-Leader Lexington, KY
Article from Lexington Herald-Leader, June 11, 1930

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FIVE BANKS IN CLOSE Miami Institution And Three Of Its Subsidiaries Hurt By Withdrawals MIAMI. Fla June 11 (AP) The of Bay Biscayne, with deposits of and three affiliated fiinstitutions, failed to for today. statement by directors of the bank attributed the closing to "recent substantial withdrawals.' The affiliated banks were the Biscayne Trust Company, the Miami Beach Bank and Trust Company and the Bank of Coral of Bay Biscayne in its quarterly showed of $15,037 198 and total resources of J. H. Gilman is president of the bank. The Bank of Bay Biscayne is Miami's oldest It has one of the finest buildings in the city, structure in 1925. HOMESTEAD BANK CLOSES HOMESTEAD, Fla., June 11 (AP) The Bank of closed its doors today after opening for short time. was made by Assistant Cashier H. Grady Smith saying the was in good condition and of business was but tempororaly taken for the of local bank on account of bank failures today in Miami. Smith said the L nk expects to open in few days.

3. June 11, 1930 The Macon News Macon, GA
Article from The Macon News, June 11, 1930

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Banks in Florida Forced to Close Fla. June Bank of Bay one the leading city failed to open dnesymorning on the door read by directors The Bank of Bay Biscayn in had and total resources Fla., June 11. Bank Homestead doors at 10 Wednesopening Official was made Cashier Smith, that the bank in dition and but taken for th purpose avoiding bank on account of bank failures today in Miami

4. June 12, 1930 Morning Pioneer Mandan, ND
Article from Morning Pioneer, June 12, 1930

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Hot News Briefs By The Associated Press defeat the tariff bill calls betrayal of Hoover's pledge limited give culture equity with industry Additional equipment was sent into forest gions near Port Arthur, Ont., rangers to check numerous Dry weather has caused fires to break out Advance today for the 37th annual convention of the Minnesota and North Dakota and Ladies Anxiliary Unable to save feet of timber at Birch Lake, 60 miles east of Prince Albert, Sask., forestry officials moved fire fighters to other areas where there chance to check the wildfire. The Inland Waterways corporawas today charged ful practice granting service shippers ing the water line. Mrs. Walburga Oesterreich, wealthy widow Angeles, today granted separate trial from "attic lover," Otto Sanhuber, with whom she jointly indicted for the murder of her husband. Several hundred women worn by strenuous days in the 20th convention Nation Federation of Women's Clubs, sought rest in mountain retreats today. Sessions will be resumed Thursday. There are 32 women at Valley City from Cass, Barnes and Stutsenrolled in the first Homemakers Club camp The Civil closed in 1865. Today there were just 17 CivWar veterans North Da kota left to attend the annual meeting of the G. which opened today at Valley City, The Relief Corps, however, had 129 registered. convocation of the Minnesota Lutheran district of the EvangeliLutheran joint Synod Ohio other opened today St. Paul. Plans are being perfectfor merger the Ohio, Iowa and Buffalo Synods. George Kirk, 64, past command of Knights Templar, Bemidji, died at his home in Bemidji, today ment of the grain futures act. Donald Cash. 14 year old Mapes, Under the commerce department boy, since $30,000 was allowed for the monwhen was thrown from itoring radio at Grand horse, showed improvement today land, Nebraska: $350,000 for a More than broadcasting draulic laboratory; $139,000 for tions in the broad- building Great Lakes the $190,000 light-house night and fish cultural fight Thursday in Oklahoma. Mrs. Alice Eikor, 74, niece of Gen. Robert Lee, died last night in Oklahoma City. Chief Justice and Mrs. Hughes racks taken to daughter Elizabeth, sailed lieve prison congestion. on Leviathan for southern Europe FEAST OF CORN Heavy rains fell over territory stretching from Wilton to and in the nity Hook yesterday. In heavy rains fell area between Mandan Dickinson. Dr Ernesto Rossi, Italian wine Federation of Women's clubs, taster Indian operetta was presented foreign under- Sakakawaea junior girls club stand objection to strict pro- United States Indian school enforcement His opinion based after a drink boot drew the applause several hundred women dele Funeral will be held Edmore, tomorrow for Hans Myhre, 59, who cumbed Sunday to injuries ceived fall off grain tank during runaway last Four deputy sheriffs of Sedgwick Kansas, arrested Miss Slater. club presiday charges of conspiracy dent, played the violate the prohibition laws. Mary Slater took the part Wa- Bohmbach, wife Red Wing, Minn., alderwas found dead the cistern today. She had been ill for several North Dakota Laundry of the school faculty in charge Devils Lake, tomorrow with expected. CHURCH SCHOOL A chortage of $308,000 in the First National Bank at Chey. bongone, Mich. Clyde Milliken, savings teller Monday be paid in full to depositors. Episcopal church magazine Chief of Police Henry Knipe, believe that moderate drinking itself sinful under federal indictment He does not believe moderate violating prohibition laws. drinking The Bank of Bay Biscayne, Miami, $15,000,000 deposits and three affiliated banks, closed today after heavy runs. myself Boston, June drinking problem Rainbow arrived Boston fish pier late students, day the are prohibited statue, and The bodies, recovered near the statue doubtful ever will be scene last those seven men, women, he says only conclusion baby French inventor's home the prohibibar pivoted post majority and them time. quently."

5. June 12, 1930 The Marshall News Messenger Marshall, TX
Article from The Marshall News Messenger, June 12, 1930

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Rush Money By Plane to Halt Run On Bank Miami, Fla., June airplane bearing two million lars in cash arrived here from Jacksonville at 2:05 ms. today meet financial situation caused the closing of the Bank of Bay Biscayne and four others. President Romfh of First National, anthe money would be used through the other Miami banks off all concerned in the closed

6. June 12, 1930 The Knoxville News-Sentinel Knoxville, TN
Article from The Knoxville News-Sentinel, June 12, 1930

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MIAMI RECEIVES MONEY BY PLANE $2,000,000 Rushed to City Where Five Banks Closed. By United Press MIAMI, Fla.-The arrival of $2,000,000 in cash by airplane and several reassuring statements by state banking officers helped today to allay the uneasiness of depositors who had funds +n five banks which closed yesterday. One of the banking officials insisted the situation was not acute, and declares the conditions which led to closures would have adjusted themselves if there had not been unfavorable "talk," some of it by bankers themselves. It was said today that an additional $4,000,000 was being rushed Into the Miami district by mail. It will arrive this afterThe banks which closed were the Bank of Bay Biscayne, with resources of $17,182,292; the Biscayne Trust Co., with $1,962,148; the Miami Beach Bank & Trust Co., with $2,593,281; the Bank of Coral Gables, with $743,759, and the Bank of Homestead. Local bankers said they were confident normality would be restored promptly when the public understood the cause of the heavy run made on the institutions. They had the assurance of additional aid from the Federal Reserve if it were needed, they said. CLEARWATER BANK FAILS By United Press Bank of Clearwater, capitalized at $250,000 and the Guaranty Title and Trust Company, smaller institution, also of Clearwater, went into the hands of the state banking department today and closed their doors.

7. June 12, 1930 The Buffalo News Buffalo, NY
Article from The Buffalo News, June 12, 1930

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$2,000,000 ARRIVES FOR BANKS IN MIAMI MIAMI June 12 among five local banks decreased late Wednesday with the arrival of $2,000,000 in cash by airplane from Jacksonville, and optimistic refrom city and state banking offiFailure for business of the Bank of Bay Biscayne its three branches depositors for information their money, and caused another bank to shut down to avoid run.

8. June 24, 1930 Evening Star Washington, DC
Article from Evening Star, June 24, 1930

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BANK HEADS AND STATE OFFICIAL NAMED IN SUIT Charges Officers Knew Institution Was Insolvent Nine Days Before It Was Closed. By the Associated Press. MIAMI, Fla., June 24.-Claims that the officers of the Bank of Bay Biscayne knew it was insolvent nine days before it was closed and that Ernest Amos, State controller, was derelict in his duty were made in a suit for a receivership filed in United States District Court here today by James G. Hawkins and his wife, Mrs. Rosa Hawkins, depositors. The petitioners asked that a receiver. appointed by the court, take charge of the bank's assets and issue a detailed inventory and appraisal of assets and liabilities. Judge Halsted L. Ritter designated next Monday as the date for a hearing. The suit claimed that when the bank closed, June 11, $10,000,000 in deposits were protected by a reserve of only $300,000, although Florida statutes require a reserve of 20 per cent of deposits.

9. July 3, 1930 The Tampa Times Tampa, FL
Article from The Tampa Times, July 3, 1930

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Amos Loses Fight Against Federal Bank Receiver Miami, July 3.-Holding that Ernest Amos, comptroller. holds no more right than individual the petition of Mrs. Rosa federal ceiver for Bank of Bay Biscayne, Federal Judge Halsted Ritter today denied motion dismiss the petition by attorneys for the comptroller. The comptroller was made the suit the first party of the quest Attorney Fred Davis Florida, who ing him. Amos comes under the equity Judge Ritter "He has more rights than humblest the bank. are just concerned now with pushing perAmos file this courtesy and the that better of sides of the case might brought Next hearing the receivership petition held July 21 Ritter's court.

10. July 18, 1930 The Tampa Tribune Tampa, FL
Article from The Tampa Tribune, July 18, 1930

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Amos Again Asked for Bank Stockholder List MIAMI, July that Ernest Amos. state comptroller provide names and addresses of stockholders of the closed Bank of Bay Biscayne of Miami was in letter sent today by Abe Aronovitz, chairman of one of the depositors committees of that bank. The demand. the third of its kind. was sent after meeting of the committee today at which was said the names were wanted so that suit to collect could be instituted. Amos declined two previous requests for the names, first on the ground that Judge Halsted Ritter had ordered the affairs to remain in status quo and later on the ground that the information desired is quasiconfidential.

11. July 27, 1930 Evening Star Washington, DC
Article from Evening Star, July 27, 1930

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FLORIDA BANKERS ACCUSED OF FRAUD Creditor Sues, Charging State Controller Let Defunct Institution Swear Falsely. By the Associated Press. MIAMI, Fla., July 26.-Charges that Ernest Amos, State controller, and officials of the defunct Bank of Bay Biscayne, had known that statements issued by the bank prior to its June 11 closing were fictitious, and that Amos is conniving wth officials of the institution to dispose of securities, were contained in a suit filed in Federal Court here today, asking the appointment of a Federal receiver for the bank. The suit was filed by Robert J. Boone, attorney for Charles Ball, a Scranton, Pa., real estate operator. Boone said Ball filed the action as a creditor, on the grounds that he holds an unpaid judgment of $7,040 against the bank. The suit, according to Boone, charges that the bank has been insolvent for 12 months, and that the controller and officers of the bank were aware of the fact. A further allegation is made that the controller permitted the bank to issue false statements as to its condition.

12. August 8, 1930 Evening Star Washington, DC
Article from Evening Star, August 8, 1930

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ACCUSES BANK OFFICIAL Florida Controller Is Charged With Malfeasance. MIAMI, Fla., August 8 (P).-A warrant charging State Controller Ernest Amos with malfeasance in office in connection with the liquidation of the suspended Bank of Bay Biscayne was

13. August 8, 1930 The Kokomo Tribune Kokomo, IN
Article from The Kokomo Tribune, August 8, 1930

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MIAMI BANKER UNDER CHARGE OF MALFEASANCE Miami, Fla., Aug. 8.-(AP)-A warrant charging State Comptroller Ernest Amos with malfeasance in office in connection with the liquidation of the suspended Bank of Bay Biscayne was issued here yesterday on application of a depositor. Amos is charged with violation of Florida statutes by employing former officials and employes, of the bank to make the liquidators' audit. While there has been much civil litigation in consequence of the bank's suspension, this is the first eriminal action taken, Center M. E. Church. Preaching once each Sunday. Sunday school each Sunday morning at 9:30 o'clock. Prayer meeting each week. Come and bring the entire family. We need you. J. R. Smith, pastor.

14. August 8, 1930 The Boston Daily Globe Boston, MA
Article from The Boston Daily Globe, August 8, 1930

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WARRANT OUT FOR FLORIDA OFFICIAL MIAMI, Fla, Aug warrant charging State Controller Ernest Amos with malfeasance in office in connection with the liquidation of the suspended Bank of Bay Biscayne was issued application of Jack Selby, depositor. Amos charged specifically with violation of Florida statutes by employing ex-officials of the bank to make the liquidators' Although the Federal and State Courts been occupied with much civil litigation sequel the bank's suspension, this is the first criminal action taken.

15. August 8, 1930 Chattanooga Daily Times Chattanooga, TN
Article from Chattanooga Daily Times, August 8, 1930

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FLORIDA COMPTROLLER FACES CRIMINAL ACTION MIAMI, Fla., Aug. 7 (P).-A warrant charging State Comptroller Ernest Amos with malfeasance in office in connection with the liquidation of the suspended Bank of Bay Biscayne was issued today upon application of Jack Amos Selby, charged specifically with violation of Florida statutes by employing former officials and employes of the bank to make the liquidator's audit. Although the federal and state courts have been occupled with much civil ligitation sequel to the bank's suspension, this is the first criminal action taken.

16. August 8, 1930 Evansville Courier and Press Evansville, IN
Article from Evansville Courier and Press, August 8, 1930

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Florida State Official Accused MIAMI. Fla., Aug. 7.-(AP)-A warrant charging State Comptroller Ernest Amos with malfeasance in office in connection with the liquidation of the suspended Bank of Bay Biscayne was issued here today on application of depositor. Amos is charged with violation of Florida statutes by employing former officials and employes of the bank to make the liquidators' audit. While there has been much civil litigation in consequence of the bank's suspension. this is the first criminal action taken.

17. August 8, 1930 The Anderson Herald Anderson, IN
Article from The Anderson Herald, August 8, 1930

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State Official Accused In Florida Bank Case MIAMI. Fla., Aug. 7 (P)-A warrant charging state comptroller Ernest Amos with malefeasance in office in connection with the liquidation of the suspended bank of Bay Biscayne was issued here today on application of depositor. Amos is charged with violation of Florida statutes by employing former officials and employes of the bank to make the liquidators' audit. While there has been much civil litigation in consequence of the bank's suspension, this is the first criminal action taken.

18. December 1, 1930 The Miami News Miami, FL
Article from The Miami News, December 1, 1930

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MORE MEMBERS FOR MIAMI'S Y WILL BE SOUGHT Drive Volunteers to Be Obtained at Meeting Tonight An effort to bring membership in the Miami Y. M. least to at 1,500 replenish finances which were through failure of the Bank of Bay Biscayne, will get under way tonight ship meeting at the Y building at 6:15 This meeting called by M. R Harrison. general of the membership campaign, for the of perfecting field organization solicit and memberships. The meeting will not longer than an hour half, Mr. Harrison said. Starting tomorrow and for five thereafter, than 100 workers be field. Emphasis will memberships, those which only entitle the holder privileges, enable the association to extend rights to number of deserving boys not able to pay the regular membership fee. Officers field organization already have and unteers make the remainder up the field army expected be to tained at tonight's

19. December 11, 1930 The Miami Herald Miami, FL
Article from The Miami Herald, December 11, 1930

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BANK LIQUIDATOR ANSWERS DAVIS Therrell Defends Appointment For Biscayne Institution Fla., Dec. (A)-J. Therrell, liquidator for the closed Bank of Bay Biscayne, Miami, today filed with the Supreme court swer writ issued against recently on application Davis, attorney general. attorney general contended has no right act liquidator for the bank, since appointment Comptroller Ernest confirmed court of the proper jurisdiction. In his answer today the liquidator contended he held legal occupancy the position. The attorney general filed motion for judgment ouster, notwithstanding claims Therrell's The Supreme court took the matter under advisement.

20. December 23, 1930 The Miami News Miami, FL
Article from The Miami News, December 23, 1930

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the past and we shall continue to in the future. On June 11, he was quoted as say- are authorized to reaffirm in my the previously published that squarely behind the City National bank. suggest the that ample funds are available for all necessary demands." The questioning of Mr. Gordon preliminary net the part of the state attorney's understood. might be by calling the grand jury. Whether this would done, Mr. Hawthorne said, depends developments. As to investigation of the bank such. he said, such probe properly should handled by the government. as the City National is federal serve institution. off and have been waiting all morning for line that failed to materialize," it said. Police at the City tional and Bank of Bay Biscayne for service, said that there had been disturbances. One man at the City National bank to have his safety deposit box contents delivered to him.

21. March 28, 1931 The Miami Herald Miami, FL

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TRIAL OF GILMANS AWAITS DECISION Halt Called Pending Supreme Court Ruling The cases of James H. Gilman, president closed Bank of Bay Biscayne and his Gilman, head the with false entries in bank's will called for ther next Supreme court does decide questions before by the middle of the week, Judge Collins of Criminal court Judge Collins indicated that he demurrer by plea John Stokes Carl Hoffman, neys for the last The attacks Judge Collins' authority to hear the The same questions are before. the Supreme court, Judge Collins said, was to him in Tallahassee this that would be made this week or early next week.

22. July 16, 1931 The Miami News Miami, FL

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BISCAYNE PATRONS ESTABLISH CLAIMS Burdine's, Inc., to Get $70,000; William Juerens, $5,200 Inc., was granted preferred claim of $70,000 against defunct Bank of Bay Biscayne and Dr. H. Therrell as liquidator. handed down late yesterday by Judge Chillingworth Palm Beach where the suit, involving money transfers. the disqualification of Miami judges. The claim originated because three orders from Burdine's transmoney to Bank battan Trust New The money transferred and had not the York bank when Miami concern alleged. One transfers ordered January, while there another $35,000 1930. few days before the suspended, M. represented Judge Chillingworth granted preferred claim $5,200 behalf William Lillian Juerens Hialeah. ordered the bank to purchase Liberty bonds them before ceased The money for the bonds had been but the had delivered failed to open June 1930.