The Daily Alaska empire., 1933-03-09
CHAMBER GIVES LOYAL SUPPORT
 TO FINANCIERS
Overflow Meeting Today Greets Bankers -Sev-
 eral Make Talks

The business and professional men of Juneau today, through the Chamber of Commerce, filled the luncheon room of Bailey's Cafe to capacity to join in paying tribute to local banking institutions in whose soundness they exhibited un- bounded confidence.
 The soundness of the banks and the community is coincident, it was pointed out of J. A. Hellenthal. AS long as Juneau is sound, as its industries are sound, and it's prop critics sound, and they are extreme ly so, the banking institutions will be likewise and in the same de- gree, he declared.
 Breaks Years Record
 All attendance records of the year were broken by today's at tendance of the Chamber The luncheon room accommodations were exhausted, almost all the booths occupied and those unable to find room in either overflowed to the counter.
 B. M. Behrends, President of the bank bearing his name, and Sam uel E. Pope, head of the First National Bank, said they expected these institutions would be open for limited operations tomorrow. Both emphasized is was not pos sible for any local bank to func- ton normally as long as the banks of the rest of the country are shut down, or operating on a basis of limited withdrawals.
 Pay Roll is Assured
 MT. Pope formally announced that the monthly pay roll of the Alaska Juneau will be taken care of as usual. It might be that it would be necessary to delay it a few days, he added, due to the sit- uation that had developed in the States, but not longer than that. By an enthusiastic vote, the Chamber adopted a resolution ex- pressing it's complete confidence in the financial integrity of the two banks and their ability to care for the needs of the community. and the integrity and capabilities of the personnel directing their oper- ationS.
 Hess Explains Legislation
 Senator Luther c. Hess, whose Bank Stabilization Act has just passed both branches of the Leg islature, explained briefly TIe nec- essity for such legislation and how that necessity had arisen from the serious situation that has de- veloped in the States. The bank ing crisis in the States, he pointed out, had made the nation-w wide banking holiday necessary. The ex- tent of it's success depended large ly upon the measures taken to ap- ply to the banking system after the holiday period expires.
 All Alaska banks, MT. Hess said have funds invested in securities and loans. Due to these invest ments, it is naturally not possible for them to pay out all deposits at any given time. Nor would they ever be required to do SC except due to conditions of fear based on panic psychology rather than good business sense and req soning.
 Empowers Banking Board The measure introduced by him gives the Territorial Banking Board the authority needed to protect de- positors and banks from a situa- tion of that kind. It is purely emergency legislation and vii never be used, except in emergen- cy cases.
 He modestly rejected any credi for the measure. It is almost iden- tical, he said, with the Washing ton State Law and the few chang es made in it were evolved by 2 legislative committee of which ht was but one member.
 Senator Hess predicted that tht
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