Bank of Buena Vista (Miami, FL)

Episode Information

Episode UID
63034471519
Episode Type
Suspension β†’ Reopening
Bank Type
state
Bank ID
6303447 routing
Routing Number
63-0344
Start Date
July 2, 1926
Location
Miami, Florida (25.774, -80.194)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c3eb46fe10b664f2

Response Measures

None

Description

Directors announced suspension for reorganization and said a readjustment would enable reopening.

Events (1)

1. July 2, 1926 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors cited outstanding loans they could not deliver and announced suspension to effect reorganization.
Newspaper Excerpt
Three financial institutions in Miami suburbs, the Bank of Cocoanut Grove, the Bank of Buena Vista, and the Bank of Little River, suspended operations here today.
Source
newspapers

Newspaper Articles (13)

Article from Brownsville Herald, July 2, 1926

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FOUR FLORIDA BANKS CLOSED HOLLYWOOD, Fla., July 2 (AP)The bank of Dania closed shortly before ,noon today, following heavy withdrawals by depositors. I. T. Parker, vice president, announced a readjustment would be made immediately will enable the bank to re-open shortly. MIAMI, Fla., July 2.-Three - financial institutions in Miami suburbs, the Bank of Cocoanut Grove, the Bank of Buena Vista, and the Bank of Little River, suspended operations here today. Outstanding loans on which they could not deliver were given by directors as reasons for suspension activities.


Article from Imperial Valley Press, July 2, 1926

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Article Text

Three Florida Banks Close Up By United Press Leased Wire MIAMI, Fla., July 2-Three banks closed their doors today in the greater Miami district. They were the Bank of Cocoanut Grove. the Bank of Buena Vista and Little River bank. The first two institutions closed. according to announcement of directors, to effect reorganization. The closing of the two suburban banks caused a run on the Little River bank which forced it to suspend operations.


Article from The Hanford Sentinel, July 2, 1926

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THREE BANKS CLOSED IN MIAMI DISTRICT Miami. July (United Press) Three banks closed their doors today in the Greater Miami district. They were the Bank of Cocoanut Grove. the Bank of Buena Vista and The Little River The first two institutions closed. according to announcement of directors. to effect reorganization The closing of the two suburban banks caused run on the other bank which forced it to


Article from The Alaska Daily Empire, July 3, 1926

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FOUR FLORIDA BANKS CLOSED MIAMI, Fla., July 3.-The bank at Cocoanut Grove, bank at Buena Vista and bank at Little River 'have closed. The bank at Hollywood stood the run made this forenoon. The Miami clearing house is blamed for the failures as outside interests control the paper. FORT LAUDERDALE, Fla., July 3. The City Bank failed to open its doors this forenoon.


Article from Seward Daily Gateway, July 3, 1926

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FLORIDA BANKS SUSPEND BLAME LAID TO OTHERS FORT LAUDERDALE, Florida, July 3. (AP)-The City bank failed to open today. MIAMI, July 2. (A))-The bank of Coconut Grove, the bank of Dania, the bank of Buena Vista and the bank of


Article from Daily Kennebec Journal, July 3, 1926

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Three Banks Fail At Miami, Florida Miami, Fla., July 2.-(P)-Three Miami financial institutions, the Bank of Cocoanut Grove, the Bank of Buenavista and the Bank of Little River, suspended operations here today. Outstanding loans on which they could not deliver were given by directors as reasons for suspension of activities.


Article from The Morning Call, July 3, 1926

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BANKS CLOSE DOORS WITHDRAWAL OF FUNDS AFTER Head of Clearing House Asso. Says Outside Control and Loans Responsible for Present Conditionsβ€” Depositors Protected, Heads Say July local banks suspended operation, financial institution at Dania closed its doors and Hollywood bank weathered heavy withdrawal of funds toThe Bank of Coconut Grove, and the Bank Buena Vista failed business the Bank Little River closed hour's duration. The Bank Dania, short distance from funds ceased before noon. At the same time the bank short distance north of this city Broward County, brief run. of Buena Vista and the Bank allied made the following bank has decided suspend operations the and will, therefore, not open for actuated in this by desire protect its depositors the fullextent, local citizens are will announce the details in few organize locally controlled for speedy liquidation and to relieve the The Bank of Buena Vista opened October 1920, with capital stock $15,000, which has been raised $50,000. The officers include Anthony, head the board of direcwith Sanders, president. The Bank of Little River, through President Teed feel visable operations for the present. bank sound good We have excess of $200,000 in and forty per think the will He his intention of fecting an President Parker, the Bank Dania, immediately closing that readjustment would enable the bank reopen shortly and meet all obligations. The run the Bank of precipitated of the previous bank closings, but through receipt funds Miami Banks. The noon when ficers found funds sufficient to cover deposit President George Romfph 'of the Miami association commenting the suspension three suburban banks, that outside control loans outside paper solely responsible for the


Article from Marysville Journal-Tribune, July 3, 1926

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FLORIDA BANKS CLOSED DOORS MIAMI, Fla., July 3.-The Bank of Coconut Grove and the Bank of Buena Vista failed to open for business here yesterday and the Bank of Little River closed after an hour's "run on the bank". The Bank of Dania, a short distance from Miami, ceased operations in the morning af ter "run" on it. The Bank of HolCocoanut Grove and the Bank of heavy "run."


Article from The Huntington Press, July 3, 1926

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SALOON LEAGUE SPENT SEVEN MILLIONS IN 22 STATES TO AID PROGRAM ASHINGTON, July of more than $7.000,000 by the Anti-Saloon League in 22 states during the past six years were disclosed by additional reports filed today with the senate campaign funds committee by Wayne B. Wheeler, counsel for the national dry organization. These states include New York, Maryland and Rhode Island, which alone have no local dry enforcement statues, as well as Pennsylvania, Illinois, Indiana, Wisconsin, Iowa, Missouri and Kentucky. While the state organization contribute certain of a part their income to the national Anti-Saloon league, it was deWANT UNIFORM veloped from Mr. Wheeler who occupied the stand nearly five hours, that both the national PENSION LAWS and state do their own financing independent of Teachers Approve Demand each other. at National Education Accountants who audited books of the Convention tion at Westerville, Ohio, had furnished July Senator Reed, Democrat, Missouri, National Educational Association, in the chairman with those who conthe closing moments its annual conventributed more than $500 to parent but Wheeler tion, today inaugurated campaign organization, Mr. objected to the names being made pubile. obtain uniform pension laws for teachAsks Reasons ers. This action was taken by the rep "Well, you can state your reasons resentatives' assembly in approving the snapped Senator Reed. report of Miss E. Pyrtle, Lincoln, "Wheeler insisted he would like present the matter to the whole com- Neb., chairman of the committee of 100 mittee the chairman announced the problem retirement allowances. decision would be deferred. The association adopted resolution Wheeler presented also number affirming its faith in the value of other reports, including one from Andrew Wilson, treasurer of the league's petitive athletic sports campaign committee, showing expendibelief that public recognition tures since should be given distinguished achieveOctober 1924. This did not include ments in scholarship as to avoid the expenditures primaries. giving athletics first place After concluding his examination in school life." Senator Reed announced the committee would seek further light the activities dry organization tomorMIAMI BANKS from Dr. Ernest H. Cherrington its general secretary and meantime would inquire tonight in its "campaign chest" raised the Republican and Democratie national committee for the atorial and congressional fights year. Senator Reed subjected Mr. WheelOne at Davia Also Shuts long and examination. Loses Patience Doors in Face of Big The chairman several times lost tience length of the replies and Run finally exclaimed "Now listen here, Doctor, when man flat statement in front your banks finanand quibble about time institution Dania closed its doors for even patient man bank weathered heavy patience You are going funds today. questions and answer them without The bank of Cocoanut Grove and the making speeches if have to stay bank Buena Vista failed until the snow flies" business and the bank Little River I'm ready to stay here," Wheeler retorted The dry leader said closed after run The bank Dania, short distance from Miami, the organization had spent in Pennsylvania suffered similar withdrawal of funds money during the $3,000,000 ceased operation shortly before noon. ent Republican primary contest because dry leaders had been the same time the bank of brief run. to agree candidate oppose Representative William Vare, The bank of Buena Vista and the bank avowed who defeated Governor Pin- Cocoanut Grove, allied institutions, chot Senator Pepper, both counted made the following announcethe dry side. ments: Denies Writing Act Makes Announcement. Wheeler denied he had written the bank has decided to suspend celebrated Volstead act and picked Vol- erations for the present and will stead to champion the measure in for business today. actuated gress. Declaring that the dry organiza- by desire to conserve its tion was willing quit the fight before resources protect its depositors congress prohibition question if the the fullest extent. Local citizens wets would. said, working and will announce stay here the Volstead act would the details days to organize wiped locally controlled institution for speedy Senator Reed then wanted to know liquidation and to relieve the situation." what league President Parker the bank exerted in appointment of enforcement Dania announced after closing that officers. Wheeler conceeded that the re-adjustment would be made that would league enable the bank to re-open shortly and interfere with the appointment all obligations. meet these asked. run on the bank of Hollywood was interfere when think there precipitated after receipt of news of the effort across crooked put previous bank elosings, but was met the dry leader retorted with show the funds from Miami through receipt The subsided shortly after Then Senator Reed read into the series letters touching the services Representative Upshaw, Democrat, Georgia. These showed that Upshaw sought $75 for delivery speech 1924. but finally to deliver the address for plus taxi Chairman made matter record that Pearson Hobson, member the house and hero the Merrimac sinking Santiago the Spanish war received $171,249 league from 1914 to 1922 and that the late Williams was for lecturing for the league 1010. find that Willis drew the year 1919" Reed pursued. "Is that Wheeler replied, adding that this was before Willis was elected the senate.


Article from The Tribune, July 3, 1926

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FLORIDA BANKS CLOSE DOORS: ASSURE DEPOSITORS NO LOSSES July suspended financial institution Dania closed its doors and Hollywood bank weathered heavy withdrawal of funds today. The Bank of Coconut Grove and the Bank of Buena Vista failed for and the Bank of Little closed an hour's duration. The Bank Dania, short distance from suffered similar withdrawal of funds and ceased shortly before noon. At the time the Bank Hollywood, also short distance north of this in Broward county. withstood brief The Bank of Buena Vista and the Bank of Coconut institutions, made the following separate announcements: "The bank has decided to suspend operations for the present and will. therefore, not open for business tois actuated in this cause desire conserve resources and protect Its depositors to the fullest extent. local citizens are now working plan and the details organize locally controlled for speedy liquidation and to relieve the situation." The Bank of Buena Vista opened on 19. capital stock $15,000. has raised $50,000 The officers include who headed board of with Sanders president. The Bank of Little River, through President the we visable and desirable to ations for the present. The bank sound and In shape. (Continued on Page Two)


Article from Standard-Speaker, July 3, 1926

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FOUR FLORIDA BANKS CLOSED THEIR DOORS MIAMI, Fla., July 2. (AP)-Three local banks suspended operations, a financial institution at Dana closed its doors and a Hollywood bank weathered a heavy withdrawal of funds today. The Bank of Cocoanut Grove, the Bank of Buenavista, the Bank of Little River and the Bank of Dania were the ones to cease operations. The run on the Bank of Hollywood was precipitated after weceipt of news of the previous bank closings, but was met through the receipt of funds from Miami banks.


Article from The Daily News, July 3, 1926

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Three Banks In Miami Closed Doors Today (Special to News by United Press.) Miami Fla Today-Three banks in the Miami district closed today 'n the greater Miami district They were the bank or Cocoanut Grove, The bank of Buena Vista and the Little River bank The first two institutions closed according to announcement to directors. to effect reorganization The closing of two suburban banks caused a run on the Little Bank which forced It to suspend operations


Article from Riverside Daily Press, July 3, 1926

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Three More Banks Close in Miami MIAMI, Fla., July closed their doors yesterday in the greater district. They were the Bank of the Grove, the Bank of Buena Vista and the River bank. The first two institutions closed, according to of rectors, to effect reorganization. The closing of the two suburban caused run the Little River bank which forced to suspend operations.