Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-03-07

OF Indiana, member OF the House Ior
IS years, who died suddenly in New
York City this morning.
ciary funds on deposit with any other
department Of the bank"
In response to numerous inquiries It
was said ut the Treasury that:
The regulations issued by Secretary
Woodin are being communicated
through the Federal Reserve banks IN
each district.
The regulations issued would take
care of the situation in Minnesota,
where a plan has been worked out for
reopening.
The order permitting the use Of cash
to cover movement Of food was being
interpreted by bankers in the West As
permitting them to furnish funds for
movement of cattle to the market which
are to be used for food.
How bank closed by both State and
Federal proclamation would 60 about
easing the situation under the new
Treasury regulations would depend
upon their State regulations.
Money Orders Restricted.
Meanwhile, postmasters were informed
by the Post Office Department that the
embargo on gold applies to postal money
orders sent from the United States.
At the same time they were told that
if they needed funds for domestic money
orders, postal savings certificates or
other postal expenditures the money
would be available at Federal Reserve
centers
During the continuance of the bank
ing holiday the postmasters were d.
rected not to issue money orders en-
either the domestic or international
forms for payment in any foreign coun-
try, including Canada, Cuba, the Philip
pines, the Panama Canal and the West
Indies.
Domestic money orders may continue
to be Issued without restrictions for pay
ment in the United States, Alaska,
Hawaii, Puerto Rico, Virgin Islands Of
the United States, Guam and Page Pago.
Treasury Regulations.
Seven regulations issued by Secretary
Woodin last night follow:
All banking institutions may con-
tinue, in accordance with usual prac-
tice, to cash checks drawn on the Treas
urer of the United States, provided that
no gold or gold certificates shall be paid
out"
ANY banking institution may handle
and collect drafts or other documents in
connection with the shipment, trans
portation or delivery Of food or feed
products, and may perform such other
withdrawal Of such amounts OF cur
rency as shall be necessary. in the judg-
ment Of such banking institution in
connection with such shipment, trans
portation or delivery Of food or food
products, and ma yperform such other
banking functions as may be essential
to the shipment, transportation or de-
livery of food or feed products, pro-
vided, however, that no banking institu-
ton shall pay out or permit the with
drawal Of any gold or gold certi1cates."
Gold withdrawal Barred.
Under the authority conferred upon
him by the Presidents proclamation Of
March 8, 1888, declaring . bank holi-
day, the Secretary of the Treasury has
authorized all Federal Reserve banks
and all other banking institutions to
make change by the exchange of cur
rency and coin Of various denomi-
nations for an exactly equal amount Of
currency or coin Of other denomi-
nations, but no gold or gold certificates
shall be paid out in making change"
AL banking institutions may, upon
request, return intact and without re-
striction all cash, checks and other
items delivered for deposits or collec-
ton which were received after the last
closing of business hours. and have not
been entered on the books Of such
banking institution"
ANY banking institution may accept
payments In cash or any other form &C
ceptab1e to it on account or in settle
ment of obligations payable at or to
such institution"
All banking institutions may allow
their customers free access to the safety
deposit boxes and safes rented to such
customers"
Payable Deposits.
Deposits heretofore received by any
banking institution pursuant to agree
ment or legislative authority providing
for segregation and for repayment with
out restriction may be paid on demand.
Any banking institution which was law
fully engaged in the business Of receiv-
ing deposits prior to March g. 1888,
may create special trust accounts for
the receipt Of new deposits which shall
be subject to withdrawal on demand
without any restriction or limitation
and shall be kept separately in cash or
on deposit in Federal Reserve banks or
invested in obligations Of the United
States. Federal Reserve banks may
open special accounts on their books
for their member banks and tenn
porarily for non-member banks, and
may receive in such special accounts
the proceeds Of new deposits received
by such banking institutions. In max
ing deposits with the Federal Reserve
bank pursuant to this regulation the
depositing bank shall in the case Of
each deposit indicate to the Federal
Reserve bank by symbol or otherwise
that the funds 80 deposited represent
new deposits made under this regtlla-
ton. Upon receipt Of such deposits
such Federal Reserve bank shall credit
the same in the special account Of the
depositing bank herein provided for,
and shall hold the same solely for re-
serve banks shall permit the with
deposits by the depcsiting bank without
bank shall in such order or request for
Reserve bank by symbol or otherwise
that such withdrawal is to be made
from such special account; provided,
however, that no banking institution
shall pay out or permit the withdrawal
Of any gold or gold certificates"