Evening star., 1933-03-02
Il STATES. IN ALL
0NBAN NKH0L|DAYS
California, Oklahoma, Louis
lana, Mississippi, Nevada,
Oregon, Arizona Act.
By the Associated Press.

By the Associated Press.
California, Oklahoma, Louisiana, Mis-
sissippi, Oregon, Arizona and Nevada
today. joined the States in which there
are limitations on Withdrawals Of de-
poSits from banks. These States now
number II.
The proclamation of Gov. Rolph at
San Francisco makes mandatory the
closing of California banks for a three
day period ending Saturday. The three
day holiday called by Gov. Murray in
Oklahoma for the same period also is
mandatory.
The proclamation of Gov. Allen of
Louisiana provides for the cessation
until the end Of the week of "all public
business, including banks and other
public enterprises" The New orleans
Cotton Exchange ordered suspension of
trading in cotton futures and spot cot
ton during the holiday. In Mississippi
the decree of the State banking commits
sioner called only for the limitation
Of Withdrawals.
In Nevada four-day legal holiday
was proclaimed today by Gov. Fred
B. Balzar to give banks a breathing
SPELL" and Gov. B. B. Moeur declared
three-day banking holiday in Arizona.
In Oregon Gov. Julius L. Meier pro-
claimed a three-day holiday beginning
today.
In Alabama the holiday, which began
is not mandatory. Banks in many parts
of the State indicated business would
go on as usual.
Many Tennessee Banks Open.
Many Tennessee banks disregarded
the Governors call for a six-day holiday
beginning yesterday, and still others
which were closed yesterday announced
they would open today. Some restric-
tions, such as the 60-day rule against
savings deposit Withdrawals above $100,
were invoked in some cases, but even
these were waived in cases where de-
positors were threatened with hardShips.
Kentucky banks, operating under a
holiday proclamation, went on a re-
stricted withdrawal basis today, the
limit being per cent. The holiday is
to end after Saturday.
In Michigan the holiday Is still In
force as the Fords, Senator Couzens and
bankers continue efforts to reopen De-
troit banks. Couzens and the others
marked time today, awaiting enactment
of measures designed to make effective
in Michigan national legislation spon-
sored by the Senator in Washington.
Arriving yesterday with plan Tor
settlement of difficulties the First Ma
tional Bank and the Guardian National
Bank of Commerce are experiencing,
Couzens spent most Of yesterday in con-
ference with Henry Ford and bank
officials. The Fords Sunday presented
plan for organization Of two new
banks to take over the liquid assets
of the First National and the Guardian
National. Couzens' plan Is believed to
supplant that proposal. 1t Is under
stood the Senator proposed liquid assets
be segregated from the slower assets,
the former to be made available to de-
positors at once. The bank officials,
maintaining two sets Of books, then
would endeavor to convert the frozen
assets into cash, raising the permitted
withdrawal limits as that was accom-
plished. Only per cent may now be
withdrawn.
Scrip Issued in Indiana
Indiana banks continued to act in
accordance with local conditions, some
limiting Withdrawals and others doing
business as usual. At Newcastle a
modified form of scrip was circulated
banks issuing the scrip against de-
posits, the paper being accepted as cur
rency. Under this arrangement No
currency leaves the bank. But the
frozen" deposits serve as security for
the bank orders.
The situation in Ohio was easing
with many bankers considering the
possibility of raising the limit placed
on Withdrawals. Issuance Of some type
of scrip also was being considered.
Twelve States in which bank holidays
exist by proclamation Of Governors or
authorized State bank officials are:
California, Oklahoma, Michigan. Louis
lana, Mississippi. Alabama, Tennessee
Kentucky, Maryland, Arizona, Oregon
and Nevada.
In five other States restrictions on
Withdrawals are in effect in some OF
the banks. The States are: Ohio, Penn
sylvania, Indiana, Arkansas and 1lli-
nois. In the latter State a per cent
withdrawal limit has been made opera
tive by three East st. Louis banks as
"a temporary measure"
No holiday has been called In Min
nesota, but Gov. Olson signed bill
Yesterday by which the State Commis-
sioner of Banks is empowered to sus-
pend the business of State bank for
a maximum period of IS days az his
discretion.
Likewise in Idaho a bill was passed
by the Legislature before its adjourn
ment last night empowering the Gov
ernor to call bank holidays If such
action is required.
In West Virginia the Legislature
passed yesterday an amended banking
bill empowering the Governor and
banking commissioner to permit or re-
quire limited operation Of banks If they
deem it advisable.