Evening star., 1933-03-03
80 STATES ORDER
BANK RESTRICTIONS
More Holidays DecIared--lIli.
nois and New York Re.
main Undisturbed.
BY the Associated Press.

BY the Associated Press.
Swift action TO protect bank deposits
was taken IN seven more States today.
Wisconsin declared a two-week kank-
ing holiday, Georgia and New Mexico
four-day holidays. The North Caro-
lima General Assembly accorded die
tatorial powers to the commisst5Tey Of
banks. Virginia authorized two impor-
tant banks to restrict Withdrawals.
Three banks Of Kansas City. Mo-, re-
stricted their business on their own
initiative.
The Lower House of the Arkansas
Legislature passed, without dissenting
vote, bill suspending all private and
public debts for 80 days.
States in which some kind of bank
ing action has been taken numbered
80 this afternoon in addition to the
District Of Columbia. The action
ranged from optional to mandatory
holidays and from optional to manda-
tory restrictions on Withdrawals. He'll
days Of various duration obtained in
10 States, restrictions. in whole or in
part. in 10 States and the District
Of Columbia.
Three Ignore Holiday.
Three banks in Austin, Tex, voted
to open their institutions for restricted
business despite the States five-day
holiday. They will allow daily with
drawal of SIS from any one account.
w. ]. Barnett, bank commissioner Of
Oklahoma, predicted that the depositors
in more than $50 of the States banks
would be able to obtain a small per-
centage of their deposits by Monday.
The holiday in Oklahoma is mandatory.
York and Chicago, as well as in other
sections, banking business went on un-
troubled by difficulties elsewhere. In
many of the States where holidays were
declared or restrictive action taken. Off
cials said their banks were sound, but
must be protected against Withdrawals
and repercussions from other sections.
Others Join Movement.
Utahs Governor, Blood, after receiv-
ing authority from the Legislature. pro-
claimed a four-day legal holiday. He
said AN extraordinary condition exists
throughout the Nation justifying such
action
In Texas, Gov Ferguson proclaimed
f1ve-day financial moratorium, or
dering all banks to close until March 9
in the interests Of the people. She
said disturbed conditions in other
States were responsible.
Gov. Martin Of Washington State
declared a three-day holiday.
Fifteen days is the duration Of the
holiday proclaimed to start in Idaho
today.
Oregon and Arizona proclaimed holi-
days of three days. while the one pro-
claimed by Gov. Balzar to give Nevada
banks breathing spell" was set at
four days.
There was no definite information
today as to how many banks in these
States would observe the holidays
There was a growing belief that the
situation in Michigan, which saw the
start Of the restrictive movement Feb
ruary IA with an optional holiday,
would reach a solution in the opening
OF closed banks next week. Senator
James Couzens said constructive legis-
lation seems to have been agreed upon"
and an emergency measure was drafted
at the State Capitol. Many banks were
operating under per cent with
drawal restriction.
Limiting Withdrawals.
In California a three-day holiday
proclamation had tied UP the major
part Of deposits. but few banks stayed
open.
About 500 Of ohio's 800 banks were
limiting Withdrawals. while in Ken
lucky q voluntary bank holiday was
extended to March II. In the latter
State, some banks conducted business
ON 5 per cent withdrawal basis
In New Jersey only a few banks
availed themselves Of newly-granted
permission to pay depositors in INSTALL
ments, and in Tennessee the banks
which closed under a six-day holiday
proclamation were few.
Nest Of Alabama's banks were closed,
but were scheduled to open Friday under
5 per cent restriction.
In Mississippi, where restrictions Of
citizens accepted ightheartedly the
plan Of Withdrawals Of SIS plus per
cent of total deposits.
Only few Pennsylvania banks took
advantage Of emergency laws to limit
Withdrawals.
Closure of all Louisiana banks for a
three-day period was ordered by Gov.
Allen yesterday, but a score of institu-
tions upstate conducted business as
usual, and New Orleans banks, acting
with the approval CT the State bank
commissioner, planned to resume busi-
ness today on restricted withdrawal
basis.
Illinois Refuses Holiday.
Luther F. Symons, Indiana banking
commissioner. said the movement by
banks Of that State to place restrictions
On Withdrawals has slackened mate
rally. Symons said approximately half
the State and national banks have now
established withdrawal restrictions.
Gov. Horner Of Illinois issued a state
ment early this morning saying it was
his opinion that no bank holiday or
moratorium should be declared in Illi-
nois at this time. The statement.
issued after q conference Of Chicago.
Cook County and other Illinois bank
ers. which lasted from early last night
until 8 am. today, said:
After meeting of representatives
OF the Federal Reserve Bank, the Chi
cago Clearing House Association, the
Chicago Loop banks and the Illinois
Bankers Association, in which the
banking situation was considered and
discussed at length, am of the opin-
ion that bank holiday or moratorium
should not at this time be declared
by me in Illinois"
No other statement was forthcom-
ing from the meeting, but 1t was indi-
Gated there was confidence that a few
more days would see the end Of uneasi-
ness In other sections Of the country.