Word: dania
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Dates: during 1920-1929
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...already broken, twisted, blasted, Miami was rewrecked. The waters of rivers were forced back to an unprecedentedly low level, then urged headlong overwhelmingly forward to founder grounded vessels. Fort Lauderdale, Pompano,* Hialea, Dania, Homestead, Coral Gables, Hallandale, Floranada, Ojus-all were devastated...
...Manley, president; Paul J. Baker, treasurer). Part of its policy was to insure the deposits of allied institutions. Therefore when the Umatilla (Fla.) Bank discovered that some of its $441,500 deposits in the Bankers' Trust Co. were going to cover the closures of the Bank of Dania (TIME, July 12) and of others in similar predicament, the Umatilla officials applied for, and obtained, a receivership against the Bankers' Trust Co. Immediately the scores of banks too dependent upon the Bankers' Trust Co. had to close. The Umatilla Bank itself could not keep open...
Miami. Four suburban banks closed, each with deposits approximating $1,000,000; Bank of Coconut Grove (capital $25,000), Bank of Buena Vista (capital $50,000), Bank of Little River (capital $20,000), Bank of Dania (capital $30,000). Low capitalization against the vast deposits accepted was one important cause of this banking frailty. But President George Romfph of the Miami Clearing House Association blames the situation on outside control and loans on outside paper...