The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-03-14

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hem soon.
Permits for reopening were
being issued as fast as condi-
tons Of the banks here and
throughout the state can be
determined by the state and
federal authorities.
The Fletcher American National
bank, status of which had not yet
been checked by federal examiners,
was ordered to reopen today to re-
ceive deposits in trust and conduct
limited business, pending issu-
ance of a permit.
Delay Is No Smirch
State banking officials announced
that the fact that bank has not
received a permit to reopen should
not alarm depositors, as it has been
impossible to examine condition of
all banks in the brief period of time
since powers of the state depart
ment were clarified.
Indianapolis bankers were graft
fed with the signs of confidence in
the banking situation expressed by
their patrons.
Few of the banks were crowded.
Many persons visited the banks dur
ing the morning to cash pay roll
checks, but most banks reported de-
poSits far exceeded Withdrawals.
Il am glad the banks are open so
1 won't have to keep this around
home, " one bank patron remarked as
he deposited a sum of cash and two
pay roll checks.
Guard Against HOardinx
The banks today had printed
statements to be signed by persons
withdrawing substantial sums in
cash, stating that the currency was
not to be taken out of circulation
or boarded, but survey at noon re-
vealed that no banks had found it
necessary to have any of the state
ments signed, as Withdrawals were
few and small.
Checking of status of other banks
is being conducted by state banking
officials and it is expected that in
situations which have not yet re-
ceiyed permits to reopen will re-
ceive them soon.
All the reopened banks will oper-
ate under uniform restrictions
adopted by the indianapolis Clear
ing House Association and the state
banking department.
These permit ordinary check
transactions without limit: ban
paying out of gold or gold certifi-
Gates; ban cashing of checks drawn
on another bank; limit paying of
cash on checking accounts to $40
day and on savings accounts to
$40 a week, except for necessary
purposes.
The withdrawal limitations do not
apply to segregated balances created
on or after Feb. 81, when the 5 per
cent withdrawal limitation went into
effect.
State Banks Reopen
At the office of Governor Paul v.
McNutt it was stated that about
twenty tate-chartered banks were
in condition to resume business to-
day. Wayne Coy, a McNutt secre-
tary, announced that at no time
would a bank advisory committee,
working with the state banking de-
partment, announce a list of banks
which are opened.
State banks in cities not having
clearing houses may be permitted to
reopen Wednesday, it was stated at
the statehouse.
Other federal reserve system
member banks notified to reopen
this morning in Indiana included:
Ft. Wayne, Lincoln National Bank
and Trust Company, and Terre
Haute, Terre Haute First National
bank.
This is the best thing that ever
happened" Fred c. Dickson, Indi-
ana Trust Company president, said
AS soon as We get our banking
situation cleared, let's keep it clear"
Much Gold Received
Our business during the morn
ing was satisfactory in every way.
The public is showing a wonderful
spirit. Our deposits have been
nearly normal and Withdrawals
have been slight. In addition, We
have been receiving large quantities
of gold and gold certificates
Deposits at the Indiana National
bank we're three times as great as
Withdrawals during the morning, it
was announced By Arthur " Brown,
president
He said there has been no de-
mand for Withdrawals from &C
counts opened after Feb. q. The
bank cashed a large number of pay
roll checks, many bearers deposit
ing a large part of the checks.
Lobby OF the Indiana National was
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