The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-03-01

Bankers, however, said they
are unable to predict when
the withdrawal restriction,
on funds deposited up to the
close of business last Satur-
day, will be lifted.
All funds deposited since that time
are liquid
The situation will be aided further
by arrangements made by private
firms for honoring pay checks issued
to their employees, in the sum of
more than $1,000,000, during the
week and Saturday.
Pay in Cash
Many firms, which pay on the
monthly or semi monthly basis, are
adding to the flow of currency by
paying their employees in cash.
Survey of various business firms
revealed that the average worker in
Indianapolis will be paid as usual
Saturday and he will have no
trouble in getting cash.
Indianapolis utilities are dealing
with cases individually, accepting
checks from patrons. If checks are
drawn against the limitation funds
and are returned by the banks,
patrons of the utilities will be mott
fed
There will be no more evictions
of families from their homes for
lack Of funds to pay rent until the
banking restrictions are lifted, it
was announced by Ralph Hitch,
chief deputy sheriff. =
Bankers reported that depositors
are continuing to accept the stu
alton cheerfully.
Lesson to HOarders
Limitation of Withdrawals is
serving one good purpose" one
banker said, "in that it is bringing
home to the public the consequences
of draining the banks of their life
blood-cash."
The LOO employees of the Stand
ard Grocery Company are to be
paid in cash and there will be no
interruption in business, officials an
nounced
Real Silk Hosiery Mill officials
announced that 2,7O0 employees
would be paid today and Saturday,
declaring they expected no trouble
in cashing checks.
Similar arrangements have been
made by the Big Four railroad and
Link Belt Company. Link Belt en-
ployes we're paid Tuesday, checks
being cashed through regular chan
nels.
Cash pay rolls are ready for en-
ployes of Kingan & Co., packers; E.
G. Atkins, saw manufacturers, and
P. r. Mallory Company. It has
been the practice of the Mallory
firm to pay by check, officials said,
but the cash method has been
adopted temporarily.
Oil Company Provides Funds
Bank deposits of the Shell Pc
troleum Company have been in
creased to provide funds for CASH
ing employees pay roll checks, offici-
ais said
Outside funds also have been
utilized by the National Malleable
and Steel Castings Company for
Saturdays pay roll. Payday for en-
ployes of the Barbasol Company was
Monday and arrangements we're
made with local banks. Next weeks
pay roll also will be met AS usual"
it was said.
Our employees will be paid as
usual was the comment from the
Pennsylvania Railroad, Columbia
Conserve and G & J Tire and Rub
Der Company.
The Citizens Gas Company paid
its employees by check today. The
Indianapolis Power and Light Com
pany and the Indianapolis Glove
Company will pay by check Fri
day.
Weekly pay rolls of the J. D.
Adams Manufacturing Company,
Holcomb & Hoke will be met Sat-
urday.
Pay days vary at the Indiana Bell
Telephone Company, but all en-
ployes, whether on a weekly or
monthly basis, will be paid.
The following companies reported
that the partial banl; holiday will
in no way interfere with making
the regular pay roll:
Folks Sanitary Mix Company,
Van Camp Hardware and Iron Com
pany, Haag Drug Company, Hook
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