The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-03-15
|RE-OPEN DOORS FOR
BUSINESS FOLLOWING
Nine DAY RESPITE
Only Restrictions Are Those
Conserving Gold and Pre-
venting Hoardinq
CONFIDENCE IS RESTORED
Local Financiers Confident Poo.
Pile Will Not Rush to
Withdraw Funds

Bismarck's three banks opened wide
their doors Wednesday forenoon after
a nine-day legal holiday which had
held financial institutions throughout
the nation practically imperative fol-
lowing President Roosevelt's emery
ency proclamation.
They were the Dakota National
Bank and Trust company. First Ma
tional Bank and the Bank Of North
Dakota.
Residents crowded the local insti-
buttons to make deposits, and money
deposited was far greater than that
withdrawn the opening day, the
bankers said. In this respect Bis
marck kept step with the nation. A
healthy condition Of confidence =
apparent here as well Is throughout
the country.
The only restrictions prevailing q
the banks reopened we're the prohibi-
ton OF Withdrawals Of gold Or gold
certificates and the taboo on with
drawals Of unusual" amounts for
boarding purposes.
Sixty-three Of North Dakota's n
national banks were open Wednesday.
with the remaining II expected to
open in the near future. Among thooo
open was the First National Bank at
Mandan and several others through
out the Missouri Slope area.
Much Gold Returned
Though there was not much go1d
coinage in this area when the holiday
was proclaimed. local bankers ray, 4
surprisingly high percentage Of It has
been returned to the banks following
the presidents plea and warning that
hoarders will be penali1ed.
Among gold pieces returned wore
many IS coins, local bankers say. Some
residents Iven inquired Of the hanks
how much gold IN ones possession
would constitute "hoaroing"
Though the government viii MOI
attempt to ferret out every q sold
piece In existence" one banker said
Wednesday, Uncle Sam win appre-
ciate every piece Of gold that = re-
turned to banks, no matter how small.
Everyone who deposits gold or gold
certificates is giving the government
an additional boost In its fight to
overcome the present economic situa-
ton"
None Of the new currency Just is
sued by the government under au.
thority of the few-days-old bank bill
has reached Bismarck yet and local
banks have not ordered any.
Hoarding' ID Described
What constitutes Withdrawals for
boarding" purposes is left up to the
discretion Of the local bankers. Elk
cessive and unusual Withdrawals, a.
compared to normal Withdrawals Of
depositors In the past. win not be
permitted. However. II one wants
$500 for q trip to New York, he will
get It. II he wants $500 without Of
fering an explanation. when his past
business does not indicate such q
large withdrawal IL necessary. he Will
not get 1t.
Stocks traded In blocks Of 1000 to
5000 shares during the first few min
utes and although the pace Slackened
somewhat as the day passed the trend
continued upward.
Other exchanges also resumed trad.
ing and on the Chicago exchange
brewery stock made q quick advance
Of three points on the strength Of
confidence in the monetary system
and the prospect Of the early legilixa-
ton Of beer.
The Chicago board Of trade and the
cotton market deferred reopening un-
til some communities In outlying Sec
lions Of the nation returned to full
CONTINUED on page Six)