Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-02-07
BLAMED
FOR RUN ON BANKS
Miami Police Seek Author of
Warnings That Severely
Hit Four Institutions.
By the Assoria'ed Press.

By the A=soria,ed Press.
MIAMI, Fla. February 7.-Pinancial.
circles in this city today we're reacting
from the cumulative effects OF more
than a dozen" anonymous letters which
p!ecipitated suspension OF one banks
business, brought OH temporary closing
for tWo others and we're responsible for
an orderly but determined run on a
fourth institution.
Meanwhile, police sought the rnys-
terioG author " an !ndetern1.nate
number o. letters mailed January %
IN Miami. signed Hiram" and adorned
With crudely drawn Masonic emblem.
Quietly get your money out OF the
Southern Bank Z; Trust Co: It IL
going soon" these Letters said. in vary
ing language. but similar substance.
Four Banks Suffer.
Results Of these miss.ves today had
included:
Taxing over Of the S0uther Bank 4;
Trust CO. by State Controller Ernest
Amos, at the instance Of bank officials.
stimulated 70 this step BY heavy with
draWais
Orders by Controller Amos that the
Citizens Bank and the Bank of Allapat-
tab. sm ! Institutions. temporarily close
- avoid possible demands Oh tacic re-
sources
A IN On .hr First National Bank,
ahlc!s kept teilers busy Gnti. closing
time. handing out money 70 deposi:O.s
as /, I demanded 1t.
Other institutions Of the city today
had prepared for their possible par, in
the emergency. Increased supplies OF
currency had been reouislt!oned. Near
IL all Of them experienced sigh. with
draWal increases early yesterday n,it
several reported later that deposits
showed a Jump. the City National an
nouncing a s400. 1000 boost.
Heavy Demands Met.
James H. Gilman, president Of the
Bank OF Bay B!scayne. largest bank OF
the section, and next 20 the First Ma
tionaI most heavily be!eagued in yes
terdaJs excitement, announced:
While Withdrawals were numerous
due 10 unfounded rlinors which caused
temporary excitement, We have salts
fed every demand and We have on hand
and II transit sufficient funds 10 con-
tinue 10 do So
President E. c. Romfn 0. the frs.
NdlloIldl BANK CeclAreC tfldI lne JACK
sOnylll2 branch Of the Atlanta Federal
Reserve Bank was answering his insti-
:ution's call for $1,000 900 IN funds 20
bolster the. cash reserves but said the
institution would not need II. He char
acterized the run as temporary
!. furry attributable TO other cloSIngs
which will diminish as people see the
lack OF need for withdrawing the!-
funds"
Letters Blamed.
President J. E Lumrlus ot the South
ern Bank & Trust rleid the nystsri-
GUS letters responsible for c:1e with
| drawais that caused his institution &C
summon State aid and issued a state
ment which said the bank would re-
open March IS While this bank was
capitalized al si00 900. Il had de-
posts OF sS.l3S.Il2. officials said
Some of the anonymous letters were
addressed 70 persons not depcsitors a:
the Southern Bank * Trust Co. IL was
said. Chief OF Police Il Leslie Quigy
vas one recipient. Bank officials
placed their number a. mare than o
dozen" Postal inspectors doubted he
existence OF Federal law which could
operate against the senderS.
LETTERS NOT ILLEGAL.