Evening star., 1933-03-16
D. c. SETTLES DOWN
TO BANK NORMALCY
Washington Stock Exchange
Resumes First Activity
Since Bank Holiday.

While Washington bank clearings fell
Cf today substantially from yesterday s
big total. the National Capital settled
down today to more normal business
than at any time since the President .
bank holiday. despite the fact that l3
local banks still are in the hands OF
conServators.
Evidence Of return to normal banking
conditions was seen not only in deposits
made throughout the city in the 20
open banks, and the building and loan
associations, but also in figures of the
Washington Clearing House Association.
Meantime the Washington Stock Ex-
change resumed activity again today
for the first time since the bank holiday
Checks Cleared Decrease.
At the Washington Clearing House
this morning checks cleared dropped
appreciably from the high total of yes
terday, but showed that the city is
getting back again on checking basis
after being deprived of the privilege for
several days
Clearings yesterday rose to the total
OF s2.888.365,93, as compared with
S2,448.030.71 on March 3, the last day
was closed by the banking holiday
Today, however, the total checks
cleared dropped to sl.7l6,72831. Part
OF the big increase of yesterday was
said to be due TO the Government pay
day, with many Government employees
opsning new accounts, or depositing
their checks in old accounts. The
clearings today were also somewhat
below the average for the last few days
prior to the Presidents proclamation
on the banking holiday For instance.
the clearings here March 2 were
s2.4883l302; on March l. s3819.012ll;
on February % they were 50 ,345. 5.611l6,
and on February 81 they were s2,286,-
36920.
The decrease in bank clearings today
also was explained in part by the fact
that l3 banks whose checks were flow
ing through the clearing house before
the holiday are now temporarily, at
least. out of the picture.
The decrease in check clearings today
was also said to be due to conditions
generally throughout the country
where banks are still gradually opening
The big flood Of accumulated checks
having been put through the local
clearing house prior to today, it is now
expected that more normal conditions
will be resumed gradually as banks open
throughout the country. and checking
is thus brought more nearly back to
normal
Public Radiates Optimism.
H. H. Mckee, president of the Wash
ington Clearing House Association to-
day declared the spirit OF the public
again radiated optimism, as more new
accounts continued to b. opened
throughout the city and additional de-
0d dnI 70 1ll
Pay day in the Government yesterday
resulted in larger CROWDS in the lob
bies OF all open banks and building ano
loan associations he said. Reports were
being received by Mr.. Mckee TODAY from
all banks, he said, showing the amount
OF deposits received yesterday. He hac
not received complete reports and coulc
make no estimate as to the total de.
poslts, but was very much pleased a.
the showing based on figures up to moor
today.
Banking business from now on here
In Washington. Mr.. Mckee believes
VIII continue on the upgrade as the
whole banking situation throughout thu
country is clarified. The local financia
situation here in Washington, at tht
Nations Capital is closely tied up with
various parts of the country. because O.
the cosmopolitan population of this city
with members of Congress, and othel
people here from all over the United
states. it was explained. Local bankers
therefore, are closely watching tn,
gradual clearing up of the banking bust
ness over the Nation, and are expectins
this clarif1cation to be reflected in
grati1yng way in banks of this city.
Conservators Meet.
Conservators of the Is WASHINGTON
banks which did not receive Govern
ment licenses to resume 100 per cen
operations were understood to have helt
a meeting last night at which numerous
phases of the situation were fully dis
cussed. As previously stated. durin,
the past few days there have been ru
mors OF possible consolidation of som,
OF these banks. It was said today tha'
nouncements regarding what may b,
worked out toward the reorganizini
and reopening of these institutions.
The conservators are placed in tn,
banks to see what can be done to worl
them out of their present frozen con
dition. In cases where bank official
were assigned to this work, they ar,
already familiar with the position O
their own institutions. The conserva
tors selected from the Treasury ar
studying conditions as rapidly as pos
sible. While some mergers may b
worked out, it was said today that NOR
time will be required to find out wha
can be done.
The controller Of the currency is tn
f1nal authority in approving all mergers
or banks reopening as single units. An
consultations would require the raisin
Of considerable new capital and tn
providing of such capital would tax
time, local bankers said today.