The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-03-14
e CITY BANKS
ARE REOPENED
FOR BUSINESS
Financial Houses Operated
Under Uniform Re-
StrlCtionS.
Continued from Page One

crowded throughout the morning, as
citizens transacted their banking
business for the last week.
Many persons carried several
pay roll checks, some Of them bear
ing as many as three or four in
dorsements. indicating they had
been circulated for cash during the
bank holiday.
There vas a hustle of activity at
the Merchants National bank, but
no unusual crowds Bank employees
reported business was normal, with
deposits exceeding Withdrawals
Postal savings deposits Monday
totaled $2262l, largest for any day
since the national bank restriction
went into effect, according to Les
lie D. Clancy, postmaster.
Withdrawals Are Low
Withdrawals Monday were $500
lowest for any day over the same
period, Clancy said. Activities in
money orders were about 100000
less, he SAID
Double parking was popular in
front Of and around many banks,
as car owners dashed into the
buildings to make deposits or to OBJ
tain cash for current needs. Traf-
fic officers appeared to regard the
double parking offenses tOIerantly,
provided traffic was not blocked.
Opening of the Bankers Trust
Company was quiet, only about six
persons being on hand when bust
ness was resumed.
At the Indiana Trust Company
which opened at 8, officials said
that there had been fewer than a
dozen people in the lobby during the
first hour of business. Only two
persons were in the bank at the
time the report was made.
Regular morning opening hours
we're followed by the Fountain
Square State bank, associated with
the clearing house.
The Fidelity Trust Company and
Madison Avenue State bank opened
for business under clearing house
and state banking commissioner
restrictions
Other banks which opened, under
the restrictions, we're the Security
Trust Company Union Trust Com
pany Livestock Exchange bank,
BrightWood State .bank and the
State Bank of Massachusetts, Ave-
nue..
Branches Are Opening
In addition to the central bank of
the Fletcher Trust Company mar
ket and Pennsylvania streets, the
company also opened its twelve
branches. They are:
Broad Ripple, 6235 Bellefontaine
street; East Tenth, 2122 East Tenth
street; East Side. 25O6 East Wash
ington street; Roosevelt Avenue,
1888 Roosevelt avenue; IrvingtOn,
550l East Washington street; West
Michigan, 2601 West Michigan
street; West Indianapolis, 1888 Oil
yer avenue; Sixteenth Street, 1541
North Illinois street; Thirtieth
Street, 3001 North Illinois street;
South Side, 1926 South Meridian
street; East Washington, 500 East
washington street, and West Side
474 West Washington street.
Indianapolis banks reported more
than 100000 in gold and gold GER
tificates, withdrawn from hiding
places, had been exchanged at the
banks for currency since the Presi-
dents anti-hoarding order was
issued.
$4,000 in One Lot
Much of this was in gold coins.
one man took $4,000 in gold coins
and old-fashioned large gold GER
tificates to a bank here Monday,
obtaining currency in exchange. A
woman exchanged $4,000 in gold
coins.
The banks have until Thursday
to report to the treasury the names
of persons who have Withdrawn gold
or gold certificates and not re-
turned them. Congress has fixed
a penalty of $4,000 fine and up
to ten years in prison for boarding.
Much of the gold and gold GER
tificateS being boarded was with
drawn, bankers believe, because of
fear of possible imitation and con-
sequent cheapening of currency.
The flow of gold back to the
treasury will increase the gold re-
serve to the point where issuance
of additional currency will not re-
suit in initiation, bankers said.