Evening star., 1933-02-25
NORTHUMBERLAND
IN BANK SITUATION
Officials of II Institutions in
(. County Say Depositors
Are Not Worried.

Citizens Of Montgomery County calm
ly accepted today the situation which
has led to the temporary closing Of
banking institutions throughout the
State Of Maryland.
Oficials of the IL banks located in
that community declared at noon that
the act Of Gov. Albert c. Richie in
proclaiming a three-day bank holi-
day to permit the enactment Of pro-
tective legislation for both depositors
and banking interests has occasioned
no alarm among their depositors.
Without exception the officials de-
clared their own institutions to be In
a sound financial condition, and said
tnat no heavy Withdrawals had been
mace ma -. on their banks. They indicated
tnat the unusually heavy W" "Ndrawals"
which led to the State-w. osine
order had been made on the banEs
In Baltimore City
Numerous telephone calls were re-
ceived by the banks of the county
throughout the morning, but the calls
were made for the sole purpose of OBJ
tanning information additional to that
carried in the newspapers, they said.
Few persons who had not learned
OF the three-day holiday in banking
circles appeared at the institutions this
morning, read the notice which had
been posted on the closed doors to the
erect that the institutions had sus-
pended business until Wednesday un-
ger the Governors order and turned
quietly away
Not Excitement Whatever.
There has been no excitement what
soever." one banking official declared
The people have read of situations sim
liar to that in Maryland which led to
the recent closing of the banks of
Louisiana and Michigan and have
gracefully accepted the announcement
OF the three-day holiday in this State"
Inc principal embarrassment, it was
learned, has been in the meeting Of pay
rols. A number Of firms were said to
nave been unable to pay their employees
in cash and were forced to issue checks
on their county banks, which cannot be
cashed. OF course, until after the holi-
day is suspended
included in this group were county
ofncials and county employees. who re-
celved their wages in check form this
morning, but were unable to cash them
at the county banks on which they
were drawn
State Senator Robert G. Hilton. who
70 PIesloenL Oh the FARMERS Bank d
Trust Co. Of Rockville, said this morn
ing: Il feel satisfied that the State
Legislature will take up the matter
promptly when 1t reconvenes on Mon
day evening, and I have no doubt that
some plan will be devised which will
prevent any serious embarrassment to
any Of the banks Of the State"
Business to Be Supplied.
A number Of the banks made ar
rangements this morning to supply bus
iness houses in their community with
change needed IN their business. They
also announced that business houses
would be permitted to leave their money
at the banks over the weekend for
safekeeping, but that the money would
not be accepted as regular deposits.
The banks in Montgomery County
closed by the Governors order are the
Citizens Bank Of Takoma Park, Silver
Spring National Bank, Farmers Bank
& Trust Co. of Rockville and its Ken
sington branch, Montgomery County
National Bank of Rockville, First Ma
tional Bank Of Gaithersburg, First Ma
tional Bank of Sandy Spring, Sandy
Spring Savings Institution, German
town Bank, Bank of Bethesda and the
Damascus Bank.