Bank of Coral Gables (Coral Gables, FL)

Episode Information

Episode UID
63041171566
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
6304117 routing
Routing Number
63-0411
Start Date
June 11, 1930
Location
Coral Gables, Florida (25.721, -80.268)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ce859bfac51184e0

Response Measures

None

Description

Depositors' runs followed failure/closure of Bank of Bay Biscayne; liquidator appointment in June contested in early July.

Events (3)
1. June 11, 1930 Run
Cause
Local Banks
Cause Details
Heavy withdrawals and 'unfavorable talk' after the closing/failure of the Bank of Bay Biscayne and its subsidiaries.
Measures
Arrival of $2,000,000 (and additional funds) sent by plane/rail to Miami to allay depositor fears and stem withdrawals.
Newspaper Excerpt
The banks which closed were ... the Bank of Coral Gables, with $743,759.
Source
newspapers
2. June 11, 1930 Suspension
Cause
Local Banks
Cause Details
Suspension followed the heavy run and closures of related Miami banks (Bank of Bay Biscayne and subsidiaries).
Newspaper Excerpt
closed here yesterday... the Bank of Coral Gables ... closed June 11.
Source
newspapers
3. June 30, 1930 Receivership
Newspaper Excerpt
The appointment Duncan liquidator for Bank Coral Gables brought circuit court for confirmation ... Depositors committee expects to offer its resistance learned today Duncan, liquidator Dade Broward county ... June ... the Bank Coral Gables closed June 11.
Source
newspapers

Newspaper Articles (13)
1. June 12, 1930 Intelligencer Journal Lancaster, PA
Article from Intelligencer Journal, June 12, 1930

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Article Text

$2,000,000 FUND CALMS DEPOSITORS OF MIAMI BANKS Situation Not Acute, State Officials Declare-Uncertain On Losses Miami. (UP) among five local banks decreased arrival of $2,000,000 by from optimistic reports from city and state banking officials. open for business Wednesday of the est and its three branches for and their caused another bank to shut down to avoid stopped abruptly the padlock on the AIBank Bay with its affilTrust Company, Bank Coral Gables and Miami Beach Bank and Trust Company stood closed behind notice officials that followed withdrawals and reported frozen assets.' The bank Homestead shut down early the expressed purpose of avoiding run. The $1,000,000, holds $15,000,000 in deposits State banking officials at Tallahasblamed bearish around frozen assets for failure the Biscayne and added the in St. Bank (Continued On Page Six)

2. June 12, 1930 The Brooklyn Daily Times Brooklyn, NY
Article from The Brooklyn Daily Times, June 12, 1930

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Article Text

5 FLORIDA BANKS TO PAY DEPOSITORS $2,000,000 Arriving by Plane Allays Uneasiness. Miami, Fla., June 12.-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 in five banks which closed here yesterday. One of the banking officials insisted the situation was not acute, and declared that the conditions which led to the closures would have adjusted themselves if there had not been unfavorable "talk," some of it by bankers themselves. The banks which closed were the Bank of Bay Biscayne, with resources of 182,292: the Biscayne Trust Company, with 1,962,148: the Miami Beach Bank and Trust Company, with $2,593,281: the Bank of Coral Gables, with $743.759. and the the Bank of Homestead. Local bankers said they were confident normalcy 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.

3. June 12, 1930 The Oklahoma News Oklahoma City, OK
Article from The Oklahoma News, June 12, 1930

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Article Text

MORE FLORIDA BANKS SUSPEND Total Closures Recently Reach 12; Rush Money to In- June Bank of and the Guaranty Title and Trust smaller also bringing 12 recent bank in Florida. Clearwater on the Florida west Arrival Miami of by airplane and several reassuring statements state banking officers helped allay the who had funds in five banks which closed Wednesday In addition to the plane shipment 000,000 expected by rail to aid in restoring confidence. The which the Bank Bay Co., 148; the Miami Beach Bank Trust Bank Coral Gables, and the Bank of Homestead.

4. June 12, 1930 The Evening News Harrisburg, PA
Article from The Evening News, June 12, 1930

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Article Text

PLANE CARRIES AID 5 BANKS Fla., June Bank of Clearwater, capitalized $250,000, and the Guaranty Title and Trust Company, a smaller stitution, also of closed their doors today, bringing to twelve the number of recent bank in Florida. Clearwater is on the Florida west near Tampa. MIAMI, Fla., June are $2,000,000 in cash by airplane and several reassuring statements state banking officers helped today to allay the uneasines depositors who had funds in five banks which closed here yesThe banks which closed were the Bank of Bay Biscayne, with resources of $17,182,292; the Biscayne Trust Company, with the Miami Beach Bank and Trust Company, with $2,593,the Bank of Coral Gables, with $743,759, and the Bank of Homestead Local bankers said they were confident normalcy would stored when the public understood the cause of the heavy run made on the institutions. They had the of from the Federal Reserve were needed, they said.

5. June 12, 1930 The Wichita Eagle Wichita, KS
Article from The Wichita Eagle, June 12, 1930

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Article Text

IN FLORIDA SHUTS DOORS Subsidiary Institutions Suit Following Heavy Runs MIAMI, FLA., June Bank Bay Biscayne, oldest nancial institution South Florida, and three in metropolitan Miami failed to open for business today. the Miami Beach Bank Trust company, the Bank Gables, and the BisTrust Notices posted on the doors of the said the had been taken by depositors" and because of "recent fifth banking house, the Bank Homestead, after being open hour, with the statement would few days. Homestead south Miami. Officials said the closed The Bank of Bay Biscayne listed total and of March in its last Capital listed and surplus and profits at $1,145,Other banks in the city and in the heavy during the

6. June 12, 1930 The Bellingham Herald Bellingham, WA
Article from The Bellingham Herald, June 12, 1930

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Article Text

MONEY FLOWS IN FIRE LOSS IS HEAVY REGISTERED QUAKE Refineries of Texas Oil Company Are In Flames PORT ARTHUR. Tex., June 12.the refineries the Texas Company near here billows of sending flame and feet of the air and taking toll of life property. Starting undeterminer origin the plant, fire destroyed refining unit and vastated an eight blocks square Damage estimated at between $3,000,000. Hatch, died in hospital here today from burns when tanks of and exploded in the terrific heat. Eleven other were burned when flaming oil and for pitals. Another slight bruises. Physicians all the injured The fire started in of the one treating units, where, oil treated by chemicals, spread quickly to nearby structures. Employes were unable escape before the three tanks exploded. As uninjured employes clothing of the fire spread to the huge The oil-soaked ground and buildings caught fire easily, and the blaze spread 80 fast that feremen could not cope 200 feet away from the Employes and officials alike labored construct fire breaks keep the flames from spreading. was thought they had fire to the unit in which Damage to the refinery was mated K. Holmes, plant superintendent. An engineer the company that the loss might mount as high as before the The pumphouse, fertilizer plant, three tanks of oil and gasoline and six batteries of treating units were destroyed. Disturbance Believed Not Far From Puget Sound hour duration, which at 1:51 and was 'not far was described today seismoregistered graphs at the University of Washington. THREE SHOCKS REGISTERED earthquake were registered the St. Louis university today on Father Joseph Joliet The disturbances about miles distant. first 1,140 few The second. lasted 45 minutes third short. All the were of medium intensity. Rush On Southern Florida Banks Believed at End MIAMI. Fla., June arrival $2,000,000 in cash The airplane and several reassuring state banking offistatements by cers helped allay the of depositors funds in which yesterday. In addition the plane ship$4,000,000 was expected by rail today to aid in restoring confidence. One the banking officials inthe situation not that conditions which closures would have adjusted themselves there had not unfavorable "talk," bankers The closed were the Bank Biscayne, with resources of the Biscayne Trust Company, with and Miami Beach Bank and Bank Coral Gables, with and the Bank of Homestead. Local bankers said they were confident be stored the public the the heavy made the institutions. They the assurance of additional aid from the federal reserve if it were needed, they said. FAIL TO OPEN Fla., June small financial instituthe Bank of Clearwater Guaranty Title Trust failed today. Notices pany. stated the had been asked to take charge to protect depositors.

7. June 12, 1930 The Belleville News-Democrat Belleville, IL
Article from The Belleville News-Democrat, June 12, 1930

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Article Text

in Florida Banks Being Regained Miami, June arrival of $2,000,000 in cash by plane and several reassuring statements by state banking offiiers helped today to allay the uneasiness of depositors who had funds in five banks which closed here yesterday One the banking officials sisted the situation was not acute, and declared that the conditions which led to the closures would have adjusted themselves there had not been unfavorable "talk," some of bankers themselves. The banks which closed were the Bank of Bay Biscayne, with sources of $17,182,292; the Biscayne Trust Company, with the Miami Beach Bank and Trust Company, with $2,593,281; the Bank of Coral Gables, with and the Bank of Homestead. The bankers said they were confident normalcy would be restored promptly when the public understood the cause of the heavy made on the institutions. They had the assurance of additional aid from the Federal Reserve if it were needthey said.

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

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Article Text

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.

9. June 12, 1930 Mount Vernon Argus White Plains, NY
Article from Mount Vernon Argus, June 12, 1930

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Article Text

FUNDS RUSHED FIVE BANKS State Officials Allay Fears of Miami Depositors Miami. Fla. June The arrival of $2,000,000 in cash by airplane and several reassuring statements by State Banking offihelped today to allay the easiness had funds in five banks which closed One of the banking officials insited the not acute and the conditions which led to the closures would have adjusted themselves if there had not unfavorable "talk," some of it by bankers The banks which closed were the of Bay Biscayne, with resources of $17,182,292; the Biscayne Trust Company, with $1,962,148; the Miami Beach Bank Trust Company, with $2,593,the Bank Coral Gables, with $743,759, and the Bank of Local bankers said they were normalcy be restored promptly when the public understood the cause of the heavy run made on the institutions. They had the assurance additional aid from the Federal Reserve it they said.

10. June 13, 1930 The Record American Mahanoy City, PA
Article from The Record American, June 13, 1930

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Article Text

Florida Banks Get Cash To Check Runs rival of $2,000,000 in cash by airplane and several reassuring statements by State banking officials helped today to allay the uneasiness of depositors who had funds in five banks which closed here yesterday. One of the banking officials insisted the situation is not acute, and declared that the condition which led to the closures would have adjusted themselves if there had not been unfavorable "talk," some of it by bankers themselves. The banks which closed were the Bank of Bay Biscayne, with resouces of $17,182,292; the Biscayne Trust Company, with $1,962,148; the Miami Beach Bank and Trust Company, with $2,593,281; the Bank of Coral Gables, with $743,759, and the Bank of Homestead. Local bankers said they were confident normalcy 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.

11. June 13, 1930 The Morning Press Santa Barbara, CA
Article from The Morning Press, June 13, 1930

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Article Text

$8,000,000 in Cash Stems Heavy Runs on Banks in Miami Miami area bankers tonight believed they seen the end of the financial flurry caused yesterday by the closing of the Bank Bay Biscayne and its three subsidiaries. The subsidlaries are the Biscayne Trust company, the Miami Beach Bank and Trust company and the Bank of Coral Gables. Arrival here yesterday and this morning of $8,000,000 in cash from Jacksonville and Atlanta was believed to have stemmed the tide of anxious depositors who formed in line at the city's larger banks yesterday to withdraw their accounts. Only the First National bank reported continued withdrawals today.

12. July 3, 1930 The Tampa Tribune Tampa, FL
Article from The Tampa Tribune, July 3, 1930

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TAMPA OVERRUN IN ON CROOKS, BANK RECEIVER. KIWANIAN To Act To Ritter Recesses Club Urged ArguSituation in Miami ments Remedy The time has come for Tampans stop letting gamblers, bootleggers and ballot box stuffers run their city into the Brengle, local contractor. told the Tampa Kiwanis club fiery speech that brought out heated discussion the club luncheon political situation Tampa, recognized the papers rotten. disgusting honcitizens throughout our trade keeping business away from Brengle that whole and every individual member make known grand Skinner that backing efforts dig the tom primary frauds. Kiwanians jumped up in rapid sucmost them advising against club into the grand jury and soliciSome they would The talks Tampa's "situarose the point, speakers parodies lighter vein failed to relieve the ten- Says Past Elections Worse bad our elections have been would almost made should do thing good Dan heeding ears waited they used steal ballot boxes, and recollect used shoot This did better. They just counted poorly fired back Ed Blackrising feet. the the county supervisor registration. been time when there much crooked and voting. Others point out the too be treated lightly, the club to find (Continued Page hearing few minutes argument the motion of the state comptroller dismiss petition for federal receiver for the defunct Bank Bay Federal Judge Ritter today recessed court until tomorrow. The judge previously had overruled motion bank's attorneys dismiss the petition. brought by Mrs Rosa and her Cook county, Illinois, depositors in the Judge Ritter yesterday threatened representacomptroller's office ceeded the bank's affairs without declaring "neutral for transaction business after hearing of the Hankins petition. set for July 21. Appointment Contested Meanwhile, depositors committee the Bank Coral Gables nounced contest the appointment Comptroller Amos of Duncan liquidator the bank. The Bank Coral Gables closed June 11. and two other subsidiaries the Bank Bay Biscayne closed the same time Miami bank. The appointment Duncan liquidator for Bank Coral Gables brought circuit court for confirmation here Saturday, which time depositors committee expects offer its resistance learned today Duncan. liquidator Dade Broward county June by the troller for Bank Coral and the Miami Beach Bank and Trust June He of the Bank of Bay Biscayne.

13. March 31, 1931 The Miami News Miami, FL

Article Text

PREFERRED CLAIM CASE IS STUDIED Judge Uly O. Thompson of circuit today under the whether Dr. E. Cady. Coconut should be regarded of the Bank of Coral Gables to the extent of $7,400 interest. in with alleged trust funds deposited for Dr. suit states he made the deposit with the express understanding the money should be drawn out upon order to firm contractors residence for his occupancy and should be remitted the work progressed. The bank sus pended before the arrangement could be carried out. Attorneys for the bank contend Dr. Cady is creditor as, it the bank held only tificate of deposit and the money The claim. while large will, trim materially the dividends be paid other depositors, it was