Evening star., 1933-03-02
EASIER BANKING.
SITUATION NOTED
Less Apprehension Felt as
Redeposits Are Made-FeW
Restrictions Invoked.

Local bankers stated today that the
banking situation in this city as a
whole had improved considerably since
yesterday, much less apprehension being
noted. In many, instances, it was re-
ported, savings which had been hastily
withdrawn were being redeposited.
The Park Savings Bank has adopted
the S per cent limit on Withdrawals
on commercial accounts Officials
stated that all deposits made after 2
pm. yesterday could be withdrawn in
full at any time This bank had al
ready invoked the 60-day rule in re-
gard to savings accounts.
The Chevy Chase Savings Bank is also
on the per cent withdrawal basis. Of
ficials stated that the action was taken
for the protection Of 6epositors and
that all deposits after March / could
strictions.
Walker Issues Statement.
In announcing the action taken by
the directors of the bank, President
John c. Walker issued the following
statement:
Because of the extraordinary with
drawal of deposits at the Chevy Chase
Savings Bank, due, as believed by its
board Of directors, to unjustified hys-
terra, it was determined that withdraw
ais of deposits made prior to 8 pm.
/ February %, 1888 would be limited to
5 per cent thereof until further notice,
SO as to protect all depositors and be
ever. all deposits made subsequent
thereto will be accepted as bailee, and
Withdrawals thereof will be permitted
to the full amount thereof upon de-
mand. This action met with the gen.
eral approval of the customers of the
bank when the situation was explained
to them at the bank today"
The District National Bank is on the
per cent withdrawal limit on deposits
made before yesterday. President Joshua
Evans jr, stated that the banks de-
positors had accepted the protective
move with fine spirit of cooperation.
that deposits now being made are sub
ject to full use at any time without re-
strictions.
District Nationals Statement.
The bank issued the following state
ment:
For the protection of all its depositors
and with view of maintaining posi-
ton in which their interests collectively
would be fully preserved, the District
National Bank has felt constrained to
follow the policy, which has been
adopted by many banks throughout the
country in this crisis, of temporarily
restricting Withdrawals to per cent
of deposits, as of the close of business
February %, 1888.
Substantial deposits were made yes
terday under the plan of making the
proceeds thereof available for checking
100 per cent, and the officers of the
bank desire to express their apprecia-
tion of the fine spirit Of cooperation
evidenced by its depositors.
eve regret the serous inconvenience
which have resulted from this temporary
situation, which we will relieve as soon
as practicable"
The Security Savings & Commercial
Bank has made no change whatsoever
in regard to the status of commercial
or checking accounts. There are no
restrictions on commercial accounts
With regard to savings accounts in the
Security Savings & Commercial Bank
the following plan was put into effect
yesterday and explained to depositors:
Until further notice and in accord
ance with the rules and regulations for
savings accounts, two months written
notice will be required for Withdrawals.
1.-The bank, however, will permit,
without such written notice, the with
drawal of not in excess of ten per cent
QOgo) of the total balance of any saw
ings account during any period Of two
months, provided such withdrawal does
not exceed one hundred dollars ($100),
and provided further that where the
balance in savings account is ten
dollars ($10) or less, the entire amount
or any part thereof may be withdrawn
at any time without such written
notice"
The McLachlen> Banking Corporation
has adopted the same rules on savings
accounts as the Security Savings &
Commercial, President Lanier P. NC
Lachlen announced today. He added
that no restrictions have been placed
on commercial accounts.
In an early edition of The Star yes
terday, it was stated that the Washing
ton Mechanics Savings Bank had In
voked the 60-day notice clause on saw
ings accounts. This was an error.
Ezra Gould, the president, states that
the bank is functioning as usual with
out any restrictions of any kind.