Bank of Coconut Grove (Coconut Grove, FL)

Episode Information

Episode UID
63034571519
Episode Type
Suspension โ†’ Closure
Bank Type
state
Bank ID
6303457 routing
Routing Number
63-0345
Start Date
July 2, 1926
Location
Coconut Grove, Florida (25.713, -80.257)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
4a056de98243b6a1

Response Measures

None

Description

The bank suspended operations to reorganize or liquidate following the failure of other local institutions, though it did not experience a direct run itself before closing.

Events (2)

1. July 2, 1926 Other
Newspaper Excerpt
Local citizens are now working and will announce the details in a few days to organize a locally controlled institution for speedy liquidation and to relieve the situation.
Source
newspapers
2. July 2, 1926 Suspension
Cause
Local Banks
Cause Details
Suspended following the failure of other local institutions and general instability in the Miami area.
Newspaper Excerpt
The Bank of Coconut Grove and the Bank of Buena Vista failed to open for business here yesterday
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 Plain Dealer, July 3, 1926

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Florida Financial Concern Closes Doors, Another Weathers Heavy Run. local operations, Dania closed and bank heavy withdrawal funds today. The Bank of Coconut Grove and the of Buena failed for the Bank Little River closed run The Bank distance from similar and ceased shortly At the same time the of short disnorth of this city in Broward withstood a brief run. of Buena Vista and the of made the following bank has decided to suspend for the present and will not open for business It is actuated in this course desire its and to protect its depositors to the fullest Local citizens now on nounce the details institution for speedy liquidation and to relieve the situation. of Little River, through B. Teed 'In the we feel advisable and desirable to suspend for the present. The sound and in good shape. do not the depositors will lose a dollar. President T. Parker of the after closing that readjustment would be made that would enable the bank to reopen shortly and meet all The run bank of Hollywood precipitated after receipt of of previous bank closings, but was met through the receipts of funds from banks. The run shortly after noon funds sufficient to every deposit.


Article from The Morning News, July 3, 1926

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FLORIDA BANKS CLOSE. ONE WEATHERS BRIEF RUN All Institutions Sends Three banks opera. tions, institution Danda its and Holly. bank weathered heavy withdrawal today Bank Grove and the Buena Vista failed to and the Bank of Little closed after run of an The bank of Dania. short dissimilar of funds and ceased before At the time the Bank of Holly. this County with stood The Bank of Buena stock of $50,000: the Bank of Coconut Grove The on the Bank of Holly wood precipitated after receipt of news of the other bank closings, through receipt funds Miami banks The run subsided shortly after noon


Article from The Alaska Daily Empire, July 3, 1926

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Article Text

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 Leader-Telegram, July 3, 1926

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RUNS CLOSE THREE BANKS AT MIAMI July local banks suspended operations, financial institution Daniel closed its doors and Hollywood bank weathered heavy withdrawal of funds today. The bank of Coconut Grove and the bank Vista failed for business and the bank of tle River closed hour's duration bank Daniel, short distance suffered similar withdrawand ceased operation shortly before noon. the same time the bank of also short north of this city withstood brief


Article from Marysville Journal-Tribune, July 3, 1926

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Article Text

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 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 Gazette and Daily, July 3, 1926

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FLORIDA BANKS IN DIFFICULTIES Three Miami And Suburban Banks Suspend Business RUN ON ANOTHER MET July local banks suspended Dania closed its doors bank heavy withdrawal of funds today. Bank Coconut and Bank Vista failed open the Bank Little after of an hour's duration The Bank of short suffered funds and ceased same time the Bank of Holly short distance of this Broward county stood brief The Bank Buena Vista and the Bank of Coconut Grove allied instimade following separate decided to suspend operations for present and business day It actuated in cause to conserve its resources and fullest Continued on Seventh Page)


Article from Bristol Herald Courier, July 3, 1926

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QUARTET FLORIDA BANKS SUSPENDED banks suspended financial institution closed its doors bank weathered heavy withdrawal of funds today The Bank of Cosoanut Grove and the Bank Buena failed open for business Little River after run an hour The Bank short distance from Miami, suffereda similar withdrawal of funds and ceased before noon. same time the Bank of Hollywood short distance nuorth this withstood run The run on the Bank of after of the closings was the receipt funds from Miami banks The subsided shortly after noon announced they had funds sufficient to carry every


Article from Nebraska City News Press, July 4, 1926

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Unsettled Weather, Forecast for July The weather outlook for the week ginning Monday follows: Mississippi and lower Upper Missouri valleys: More or settled with showers or thunderstorms. Temperatures near or somewhat above normal. Miami Banks Closed. MIAMI. July local banks today suspended following heavy runs by erations depositors. The bank Dania, and two others, at Coconut Grove and Buena Vista, failed weather storm. bank at Hollywood paid fast they withdepositors drew their funds. Delayed Sighted. HONOLULU, July yacht Jubilo, the San Honolulu sighted