gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a67b1c84308c66e9
Response Measures
None
Description
Anonymous letters signed 'Hiram' triggered withdrawals; state comptroller took charge at the bank's request.
Events (3)
1.February 6, 1928Run
Cause
Rumor Or Misinformation
Cause Details
Anonymous letters (signed 'Hiram' with a crude Masonic emblem) were circulated advising depositors to quietly withdraw funds, precipitating heavy withdrawals.
Random Run
Yes
Random Run Snippet
anonymous letters signed 'Hiram' urged 'quietly get your money out' (false)
Measures
Officials requested state comptroller Amos assume charge; Federal Reserve branch rushed cash to area banks to meet withdrawals.
Newspaper Excerpt
large demands for cash during the last few days had been caused by anonymous letters written to depositors and advising them to quietly get your money out of the Southern bank.
Source
newspapers
2.February 6, 1928Suspension
Cause
Government Action
Cause Details
Bank suspended operations and requested State Comptroller Ernest Amos assume charge pending strengthening of finances after heavy withdrawals.
Newspaper Excerpt
the Southern Bank & Trust company had suspended business but would reopen March 15, and that the state comptroller had taken charge at the request of its officials
Source
newspapers
3.April 30, 1928Reopening
Newspaper Excerpt
Plans are under way for the Southern Bank and Trust company of Miami to reopen for business about April 30 ... the bank plans to resume activities under a reorganization, it was said.
Source
newspapers
Newspaper Articles (20)
1.February 6, 1928Lebanon Semi-Weekly NewsLebanon, PA
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Article Text
PUBLIC COOL IN TO
Miami, closing of three banks porary of circulation of depositors to withadvising their funds from the Southern Band and Trust Company was on the First lowed today by National Bank. of affairs of the Taking charge Bank and Trust Company the officials pendrequest of finances, Ernest state ordered the Amost, Bank and the Bank of Citizens today, In the open that might not be able belief they withstand possible large withdrawais. time the comptrolAt the same to the public for made and collected assertthat the public remains cool not rush the banks this and does ought to blow however, found determined run In progress at the First National Bank with the Institution the orderly crowd fast as galned the windows. While police sought the sender notes to which ficials of the Southern Bank attributed responsibility for gradual but heavy withdrawal during the last few days, copies of thera. phraseology made public.
RUNDEVELOPS (Continued from page one.) there had been no sign of a run at either place. In announcing that the Southern Bank & Trust company had suspended business but would reopen March 15, and that the state comptroller had taken charge at the request of its officials, President J. E. Lummus said in a statement that "large demands for cash during the last few days had been caused by anonymous letters written to depositors and advising them to quietly get your money out of the Southern bank." The letters, he said, were signed "Hiriam," and bore a crudely-drawn Masonic emblem. They were mailed Saturday, January 28 in Miami, but Mr. Lummus was unable to estimate their number more accurately. than that there were "more than a dozen." Some were sent to persons who were not depositors, he added. The police are seeking to trace the sender.
3.February 6, 1928The Central New Jersey Home NewsNew Brunswick, NJ
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Article Text
Run on Miami Bank on Three Failing to Open
(By The Associated Press) Fla., mined run the First National began during the noon today three Miami financial tutions business The lobby accom modated who to admittance three Miami banks that open the Southern and the Bank and the Bank of izens The Southern Bank and Trust Company requested Amos assume charge of its fairs pending finances, following heavy deposits caused by of anonymous letters pre failure.
Three Miami Banks Fail To Open
-Three Miniul banks failed to open for business today. They wore the Southern Bank and Trust Company, the Citizens' Bank and the Bank of determined THE OIL the First Nahour today following the fallure of tions to open for business Inday. The 12:30. Other large banks reported normal bustonss conditions. Officers of the First National Bank mingled with the crown In the lobby Heren million dollars In cash will be sent to Flost Nuttonal Bank by Jacksonville by airplane and train to pay nil who wish to Ing all orderly run on the bank.
5.February 6, 1928The Index-JournalGreenwood, SC
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Article Text
MARKETS AT A GLANCE
NEW YORK. Feb. New York: Stocks bonds quiet: foreign exchanges advanced: sugar CHICAGO: corn easy: cattle steady weak: lower.
MONEY MARKET
NEW Feb. Call money firmer: high ruling rate 1-4: elesing bid 1-4. Time loans firm: mixed collat 60-90 days months 1-2. mereantHe paper
LIVERPOOL SPOTS.
LIVERPOOL Feb. Cotton spot quiet: prices steady. American strict good middling 10:33: good middling strict middling 9.88: middling 9.83: strict middling low middling strict good ordinary 9.43: dinary sales 5,000 bales. cluding 3,900 Receipts none. Futures closed steady March May July 9.20: October 9.08: January 9.05.
Comptroller Amos emphatically asserted that under normal conditions all of the closed banks could have operated as usual and that their closing was measure. There had been no sign at them. he said. there had been heavy withdrawals from the Southern Bank and Trust Company over period of several days following circulation of the letters. Meanwhile officials of the South ern Bank announced that it would re-open March 16. President Lummus said that deposits in open accounts and trust funds fully protected.
6.February 6, 1928Henryetta Daily Free-LanceHenryetta, OK
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Article Text
THREE BANKS FAIL TO OPEN
(By The Associated MIAMI, Fla., Feb. Miami banks failed to open for business day. They were the Southern Back and Trust company, the Citizens bank and the Bank of Allatattah.
MIAMI, Fla., Feb. million dollars in cash will be sent to the First National bank by the Federal Reserve bank in Jacksonville by plane and train to pay all depositors, who wish to withdraw their funds, officials of institution, announced this afternoon, following an orderly run on the bank, following the closing of three other local financial institutions this morning.
7.February 6, 1928Norfolk Daily NewsNorfolk, NE
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Article Text
ACTION CLOSING THREE OTHER MIAMI
Miami, million dollars cash the First National bank Federal Reserve bank branch Jacksonville by airplane and all depositors who withdraw their funds, officials local institution announced afternoon following orderly bank growing out closing of three other local cial institutions morning. The three banks that open for business today Southern Bank and Trust pany, the Citizens bank, and Bank of The Bank and Trust company requested Comptroller Amos assume charge of its fairs pending nances, following heavy withdraw. deposits caused circulation of anonymous leters predicting failure. President Lummus bank said that "large demands during the last days been caused letters writen to depositors and them to "quietly your money the The letters, said, were sign "Hiram" bore crudely drawn Masonic Police are seeking to trace sender. President Lummus said that deposits in funds were fully protected.
8.February 6, 1928Greenfield Daily RecorderGreenfield, MA
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Article Text
Miami banks failed for business They the Southern Bank and Trust Company, the Citizens Bank, and the Bank of Allapattah. The Southern Bank and Trust company requested comptroller Amos assume charge fairs pending strengthening of nances, following heavy withdraw of deposits caused by circulation of letters predicting its failure. Mr. Amos ordered the other stitutions in the belief they financial position withstand large withdrawals which might result from excitement incident the closing Southern Bank and Trust Company. Under normal conditions they could operate, he said, adding that there had been sign of their run place.
9.February 6, 1928Biddeford-Saco JournalBiddeford, ME
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Article Text
TAKES CONTROL MIAMI BANKS
Runs Follow Heavy Anonymous Letter Circulation.
Miami, Fla., Feb. Miami banks failed to open for business today. They were the Southern Bank and Trust company, the Citizens bank and the The Southern Bank and Trust company requested comptroller Amos assume charge of its affairs strengthening of finances, following heavy withdrawals of posits caused by circulation anonymous letters predicting its failure. Mr. Amos ordered the other institutions to open in the belief that they not in financial withdrawals which might result from excitement cident to the closing the Southern Bank and Trust company. Under normal they could operate, he said, adding there had been either place. that the Southern Bank and Trust company had suspended would re-onen and that the state compMarch had the troller its President said in public "large demands for cash during that (Continued on Page Two.)
10.February 6, 1928The Lawton ConstitutionLawton, OK
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Article Text
THREE MIAMI BANKS FAIL; RUN STARTS
Seven Million In Cash Is Rushed to Aid of Florida Institution.
MIAMI, Fla., Feb. mil. lion dollars in cash will be sent the First National bank by the Federal Reserve Bank branch in Jacksonville by air and train to pay all depositors who wish to withdraw their funds, officials of the local institution announced this after: noon following an orderly run the bank growing out of the clos. ing of three other local financial institutions this morning.
Three Banks Close ami banks failed to open for busi. ness today. They were the South, ern Bank and Trust company, the Citizens Bank and the Bank of A1-
Three Florida Banks Close, Fourth Sustains Heavy Run
Miami, Fla., Feb. mous letters. predicting the failure of one bank, caused that institution to suspend business here today, resulted indirectly in the temporary closing of two others. and brought about on fourth, which called for $7,000,000 from the federal rcserve branch bank in Jacksonville to bolster its cash reserves. The run, determined but orderly. started at noon on the First National bank, following announcement that Ernest Amos, state comptroller. had taken charge of the affairs of the Southern Bank and Trust company and ordered the Citizens bank and the Bank of Allapattah temporarily closed.
Laid to Letters. Explaining he had taken control at the Southern Bank and Trust company at the instance of its officials because of withdrawals. caused by the circulation of the anonymous letters, Amos said he ordered the other two banks closed through fear they might not be able to weather possible runs. He made plea for cool and collected public spirit," declaring that the banks would have been able to remain open under normal conditions.
(Continued on Page Two)
Unsigned Letters Given as Cause for Run on Miami Bank
(Continued from page One) would be dispatched by train tonight and the remainder tomor"Though we won't need it," he added, characterizing the "temporary flurry attributable other closing, which will diminpeople the lack of need for withdrawing their funds.' Asserting his belief that all the closed shortly that there be serious effect from the matter. Mr. Bursaid the persons are seeking their money only injure and nobody any good. Meanwhile, police were the author the letters which instances signed simply decorated with crudely drawn Masonic Mailed Saturday, January 28 Miami, some addressed persons depositors Southern Bank and Trust
"Quietly get money out Southern Bank and Trust Company they differed somewhat
13.February 8, 1928Evening CourierCamden, NJ
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Article Text
CRISIS
Police Renew Search for NoteWriter Who Brought Needless Run
Miami, Fla., Feb. 8, polsought who in several Miami and thereby money runs that forced close, other banks today reported the tense financial situation had eased. There were withdrawals the Bank of Biscayne, but officials said these by "penny with and that their reOfficials the First shape. Bank had than $6,000,000 brought in from the Federal Reserve at their acThey said the in the was no greater any other day rush and probably would be no need of the additional cash brought The Southern Bank and Trust Comclosed Monday after signed "Hiram" had been passed the bank's condition. the of Miami and the Bank of Allapattas to close. All three institutions were taken over by banking department and Southern will be March 15. State said the Citizens and the Bank of in good shape, but in no condition to stand run.
14.February 8, 1928Times UnionBrooklyn, NY
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Article Text
Bank Situation In Miami Eases
MIAMI, Fla., Feb. (U P).-As police sought the mysterious note writer, who warned against depositing money in Miami banks and thereby caused runs that forced three to banks to-day reported the tense financial situation had eased. Officials of the First National Bank-who had than six million dollars brought in the Federal Reserve Bank at Jacksonvillesaid their accounts were in excelshape. The Southern Bank and Trust Company closed Monday, after notes signed "Hiram" had been passed around, warning of the bank's condition. Runs forced the Citizens Bank of Miami and the Bank of Allapattah to close.
15.February 8, 1928The Brooklyn Daily TimesBrooklyn, NY
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Article Text
BANKS IN FLORIDA WEATHER CRISIS
Police Seek Man Wrose Notes Closed Three Institutions. United Feb. police sought the writer, warned against depositing money in several Miami banks thereby caused runs that forced them close, other banks today ported th tense financial situation had eased. were withdrawals the Bank but ficials said these were savers that their reserve was in excelshape. Officials the First National than 000 brought from the Federal Bank their accounts in excellent The Southern Bank and Trust Company closed Monday after signed been passed around, warning the bank's condition. Runs Citizens Bank Miami and the Bank Allapattah to close.
16.March 20, 1928The Miami HeraldMiami, FL
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Article Text
LUMMUS FAVORS BANK PROPOSAL
President of Southern Approves Depositors' Agreement. J. E. Lummus, president of the Southern Bank and Trust Company, fully approves the plan of reopening and the depositors' agreement, he said "It is the plan that I know of by which the bank reopened this time,' he said. have spent my time since the bank pended business in analyzing the situation, while the bank examiners in charge were making complete examination the affairs of the bank, and feel that if this plan is not adopted can see no other method except to the affairs of the bank wound up through receiver. H. H. Filer, chairman of the depositors' committee, nnounced that $827,957 in deposits had approved the agreement. When 75 per cent of the deposits in amount are signed up the bank may be reopened under the plan. Five per cent of them will be paid in cash and certificate of deposit given for 55 per cent. The balance of 40 per cent may be set aside further assets may be realized upon.
17.April 21, 1928The Atlanta JournalAtlanta, GA
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Article Text
Miami Bank to Open
Plans are under way for the Southern Bank and Trust company. of Miami, to reopen for about April 30, it was Saturday the state department. The bank operations short time ago with betwen four and five million dollars in deposits involved. The bank plans to resume activities under a reorganization, it was said.
18.April 22, 1928The Tampa TribuneTampa, FL
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Article Text
MIAMI BANK TO REOPEN
April Plans under for the Southern Bank and Trust Company Miami reopen for business about April 30, announced today the state department. The bank pended operations short time ago with between four and million dollars in deposits involved.
19.April 24, 1928Tampa Bay TimesSt. Petersburg, FL
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MIAMI BANK WILL OPEN ABOUT APRIL 30, CLAIM
April Plans for the Southern Bank and Trust Company of Miami to reopen for business about April 30, today at the banking department. The bank operations short time ago with between four and five dollars in deposits involved. bank plans to resume activities under reorganization, said.
20.December 9, 1932The Miami HeraldMiami, FL
Article Text
Checks, Representing 15 Per Dividend, Are Ready For Owners
Christmas cheer for the depositors the closed Southern Bank and Trust
Company:
Checks for $112,331.58, representing 15 per cent dividend superior claims of the closed bank, will ready for distribution this morning the office Duncan, liquidator, 1402 Security building, he informed
The Herald yesterday. This the first dividend to be paid the liquidator. The bank had paid per cent before the liquidator took charge.
The bank closed in 1928 and under freezing agreement paid depositors per cent in cash issued certififor cent, payable October, 1931, and certificate for 40 per the deposit with no The State ruled that 55 per certificates, superior claims, took precedence over the per cent certificates, subordinate claims, and should be paid first. The per cent certificates will not share dividends unless the superior claims have been paid and there money left.
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.
