Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-03-04
BANKING HOLIDAY
MAY Be CONTINUED
Gov. Richie Believes Reopen.
ing Impossible Monday
as He Signs Bill.
BY staff Correspondent of The Star.

BY stan correspondent OF Inc star.
ANNAPOLIS, Md, March As he
signed the emergency banking bill
giving the State bank commissioner
authority to manage all Of Maryland's
banks, Gov. Richie today said he did
not think it would be possible to open
the banks on Monday.
Il believe it will take more than q
day and half to prepare the necessary
be opened" the executive said. but
would not state definitely when he ex-
pected to complete plans so that the
banks could again transact business.
1t was pointed out here that it would
probably take at least one day, after
the plans are perfected, to publish
them so that the public would be
thoroughly familiar with the restric-
tons under which the banks will
function.
Gov. Ritchie came to Washington to
attend the inaugural ceremonies, but
said he would hurry back to Baltimore
as soon as President Roosevelt delivers
his inaugural address. Mr.. Richie,
together with the bank commissioner
and representatives Of the clearing
house, will confer this afternoon.
Acting under a suspension of the
rules, the House of Delegates early
today passed the emergency bill, with
amendments which were quickly con-
CURED in by the Senate, and the
measure made ready for the Governors
signature.
Bankers Confer.
While the legislators toiled over the
terms Of the emergency BILL q series
Of bankers conferences were held In
Baltimore, from which came unoficial
reports that Withdrawals would be
limited from to per cent q week,
with a minimum Of IS and a maximum
OF $25 on savings deposits. when the
banks reopen. This plan Is subject to
change. but it is generally agreed that
uniform restrictions would be enforced
throughout the State at least for the
first few days after the holiday termi-
mates.
When a definite plan has been agreed
upon, Gov. Richie will announce its
details, Bank Commissioner John ].
Ghingher said.
After nine hours Of continuous de-
liberation. the House Ways and Means
and Judiciary Committees reported the
emergency bank bill favorably with
amendments shortly before midnigh,
last night.
Before packed galleries, the clerk
read 20 minor amendments and one
major one voted by the committees
Most Of them corrected printers errors
in the original bill, but one gave the
bank commissioner, in addition to the
other sweeping powers. Jurisdiction over
all salaries and expenses Of the institu.
tons, thus permitting him to cut bank
employees pay.
Loan Companies Included.
The House also passed the bill limit.
| ing Withdrawals from building and loar
associations to the same rate established
for banks, and after the Senate hao
quickly concurred in the, amendment.
to the bank bill, both branches Of the
General Assembly wrote fms to one o.
| the most hectic legislative weeks In thi
history Of the State by adjournirg unit
Monday night.
Not until the bill has been made Z
law can the controller of currency
acting under the Couzens resolution
order national banks in Maryland Il
abide by 1t. officials said here. As sooY
as the bill base been signed today
copies will be reushed to Washington
and referred by the controller to thu
Attorney General If the measure meet
his approval, the controller will direc
national banks to abide by its pro
visions.
Received by the House about pm
yesterday, after having passed thu
Senate unanimously, the bill was i'm
mediately referred to the two commit
tees and the House recessed to avail
their action. Maj. E. Brooke Lee, At
torney General w. Preston Lane ant
others then explained the measure Il
the committee. After some Of its pro
visions had been attacked by q few
Baltimore bankers. the committees con.
vened IN an executive session which
lasted four hours.
Governor Given Absolute Power.
The date Of the expiration of tn,
State control provided in the law wa
the most uncertain thing about the act
| 1t was written in the bill that its term
would have affect for one year and couls
be extended for another twelve-montl
| period, but an amendment attached b,
the Senate gave to the Governor abso
lutte power to suspend its workings a
any time
This was written in, 1t was explained
to enable the State to abandon its owl
plan and participate in any Fedora
aid system which may be enacted b,
| Congress. This was decided upon be-
| cause of the conferences on this sub.
| ject between President Hoover ane
| President-elect Roosevelt.