The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-03-06
CLEARING HOUSE
DEFERS ACTION
ON SCRIP HERE
Local Bankers Wait Word
From Washington on
Certificates.
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OCi lllIOQlCSE
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even if business we're limited, rather
than paralyze the city's financial
operations entirely, resisted pleas of
the out-cf-toWn bankers.
Employees of all indianapolis
banks worked all day Sunday and
far into the night on ledgers.
All the banks here were prepared
to open for business this morning
under practically the same rules as
prevailed last week, but were pre-
vented by the proclamation.
Postal Savings Halted
Postal savings bank accounts are
being received but not disbursed to-
day at the local postoffice, due to
the Washington proclamation.
Arrangements were made to cash
and serve money orders, as usual,
although Postmaster Leslie D.
Clancy, is awaiting definite word
from Washington regarding this
phase of the postal service.
Telegraph companies were limit
ing the cashing and acceptance of
Geographic money orders to nom
inal sums, to prevent tying up their
liquid accounts. A. A. Brown, West
ern Union manager, said his COM
pany had set no definite limit on
the size of money orders cashed or
accepted, but would consider indi-
vidual cases.
Collections Not Made
Policy of fullest cooperation with
customers was adopted today by To-
cal loan companies. Officials of
several companies engaged in loan
ing money on automobiles, house
hold goods, and personal property
announced suspension of all efforts
to make collections.
With little cash on which to
operate, County Clerk Glenn B.
RalSton announced his Office would
continue attempts to collect court
fines, costs and forfeitures.
His Office is without authority to
suspend such collections. Ralston
explained. This power rests with
the judges and with the Governor,
who may remit fines.
State Officials Present
The clearing house members were
prevented from reaching any defin-
ite decision as to procedure Sunday
night by uncertainty as to what ac-
ton might be taken by the Cover
nor or the President.
The Governors proclamation, pre-
pared by the state banking commits
sioner, on instruction of McNutt,
was issued few minutes after the
national moratorium proclamation
as technical protection for state
banks.
Among state officials attending
the clearing house session were Sy-
mons; Thomas D. Barr, his assist
ant; Wayne Coy, secretary to the
Governor; Earl D. Crawford,
speaker of the house; Lieutenant
Governor M. Clifford Townsend, and
others.
Out-of-town bankers included
George Bell, Rome T. Calendar and
Robert P Kiley, Marion; Dent
Mitchell, Kokomo; John RiddeIl,
Brazil; William o. Grazier, Crown
Point, and J. B. Marshall, Corbin.
Meet With SymOns
In addition, number of bankers
from other cities conferred with
Symons during the cay, urging a
moratorium be declared.
The proclamation issued by Sy-
mons follows:
To all banks, trust companies,
savings banks, private banks,
building and loan associations.
credit unions, or other corpora
tons, partnerships, associations or
persons engaged in the business of
receiving deposits, making loans
discounting business paper or
transacting any other form of
banking business in the state of
Indiana:
Your attention is called to the
proclamation issued under date of
March 5, 1888, by Franklin D.
Roosevelt, the President of the
United States of America, under
provisions of the act of Oct g.
1917 (40 Stat. L. AID as amended.
to the effect that from Monday
the sixth day of March, 1888. to
Thursday the ninth day of March.
1888, both dates inclusive, there
shall be maintained and observed
by all banking institutions and all
branches thereof located in the
United States of America, a bank
holiday; and