Evening star., 1933-03-06
Holiday Cheerfully Met
Credit Arrangements Liberal in Financial Centers.
Theaters and Night Clubs Do Rush Business.
Problem of Small Change Is Considerable.

! could be cashed The board Of edu-
cation stopped payment on $4,000 SAL
| ary checks so the restricted money
available might be prorated
Credit Is being extended freely to
known customers and many business
firms accept checks for the exact
amount of purchases. All utility COM
panies have been accepting checks as
usual. There Is plenty Of small change
| in circulation. Bank employers have
been ordered to advise depositors on
individual problems. such as insurance
premiums. instalmentS and taxes
Banks have been accepting new de-
posits and segregating them into trust
funds for unrestricted checking. As a
result. new deposits have been noted.
The majority of Kentucky banks
| have been restricting Withdrawals on
other than new accounts to per cent.
Gov. Laffoon has extended the original
four-day holiday through March IL.
Massachusetts,.
BOSTON. March 6-BoSton faced
the bank holiday situation without any
fuss and even with a kind of smile
The public psychology was amazing
No crowds or even groups gathered
around either the banks or the news
paper bulletin boards. as occurred in
the crash Of 1929 and again In isolated
bank closings at the end OF 1881.
There were Of course, minor incon-
VenienceS, such as lack of small coins
Change vas short. A newspaper row
restaurant refused to change 500 bills.
In the absence OF banking trade and
business accommodation fell back on
personal credit. Old customers Of
grocery stores paid for groceries with
checks or were allowed to charge the
amounts. Hotels took checks for the
amount Of the bill-no more. The
larger stores agreed upon a policy Of
accepting no checks whatsoever.
The theaters and night clubs did the
largest business in week..
Ohio
EVELAND-Cleveland accepts the
bank holiday cheerfully Depositors
thronged the downtown banks the first
day Of the restriction on WITHDRAW walls
and long lines stood before the cashiers
cages drawing out the small part Of
mates were that $4,000 600 was drawn
that day, with no disorder and very
little complaining or bad temper
The next day banks had little more
than their usual crowds, and with
drawals were estimated at about a
tenth Of the day before. The excite:
ment was mostly over.
Retail business announces that usual
lines" Of credit will be maintained. One
Of the theaters promises that checks
for tickets though drawn against ac-
counts not Immediately negotiable. will
be accepted.
With hardly an exception. business
and industry of this city met the first
.l~'z L4 IN,
cash, generally by building up funds in
new bank deposits, specifically ex-
empted from the restrictions Of the
emergency bank laws.
Most Cleveland banks started the
holiday by limiting Withdrawals from
all accounts to per cent Of the total
balance Limitations of l or per
cent were in effect at few banks.
South Carolina.
CHARLESTON. March Cooperating
under moderate restrictions designed to
prevent drainage Of cash resources into
other States where banks are closed
and to conserve resources for conduct
ing business against Withdrawals for
boarding, banks of Charleston func-
toned Saturday completely in all busi-
ness relations and cashed checks for
such sums as were considered actually
needed by individuals. Other South
Carolina banks followed Charleston S
lead.
The State was among the few doing
business on cash basis. Deposttors
were allowed to withdraw sums to cover
immediate needs. Checks from outside
were not accepted.
Two banks in Spartanburg announced
they would observe a holiday until pas
sage of Federal legislation for banking
relief. The National Exchange Bank
in Chester closed until further orders
from the controller of the currency"
Otherwise the banking situation In
the State appeared good. Pay rolls
were met in cash.
Wisconsin.
MILWAUKEE,, March 6.-Merchants
are planning liberal extensions OF credit
during the moratorium to keep business
moving The churches in Milwaukee
announced that collection plates would
not be passed during the moratorium.
The Wisconsin holiday, proclaimed