Evening star., 1933-03-10
HOARDERS GIVE Up
GOLD WITH SPEED
Record Flow Back to Banks
Noted Throughout Whole
Country.
bankers said, like . glittering waterfall
into Government Golfers.
Frixht Starts Flow.
Continued From First Page.)

DHnkeTS ShiO IKE y kuttciAhs "eNIihA
into Government Golfers.
Fright Starts Flow.
Fright-which drove much Of it into
socks and vaults-was helping chute 1t
back into Uncle Sans keeping; fright
(Salutary and wholesome this time) at
the prospect Of 10 years In prison and
q $4,000 fine.
One estimate predicted . billion dol
lars In boarded gold would be back in
q few DAYS where 1t Is most useful, re-
inforcing the rock of gold on which the
currency Is reared.
It was believed. In the absence OF
ofiicial figures. that perhaps $500 ,000, 900
Of gold has been restored to the Federal
Reserve System throughout the country
this week Here are some reports from
various Federal Reserve districts:
At st. Louis, Gov. William McC. Mar
tin Of the eighth district said more
than half Of the $1.350,o00 withdrawn
last week was returned this week;
1896 900 of it yesterday.
At New York recovery OF gold since
the first Of the week totaled s65 600, 900.
OF this $50, 900 600 poured into the Fed
eral Reserve Bank yesterday. As IN
other reserve districts, it included gold
returned by individuals and turned in
by member banks In accordance with
Treasury Secretary Woodin's regula-
tions.
20 Per Cent Backing
At Cleveland. the Reserve Bank esti-
mated it received 100000 yesterday,
on top of 100000 Wednesday, the
Plain-Dealer said.
At San Francisco the Reserve Bank
statement showed an increase of more
than 5000 900 in gold reserve during
tine week ended Wednesday. The re-
serve was sufficiert to back all Federal
Reserve notes outstanding nearly 10
per cent.
noticeable amount" had been received
and they expected an inpour to begin
today. The Chicago Tribune said that
between February "a and the Presi-
dents proclamation Withdrawals from
the Reserve Bank scared to from 81
900, 900 to $1,000 600 daily
At Richmond. Gov. George j Seay Of
the Reserve Bank said $l63 900 Of gold
was turned over yesterday. He noted
that the lawful resources OF the bank
were $134000 900, of which $l28,000,-
900 was in gold. This compared with
S1lB, 900, 900 last month.
At Philadelphia t727 900 In gold was
returned to the Reserve Bank yester-
day, making q total of tl.055, 900 since
the start of the holiday.
Hoarders with bulging suit cases
struggled into banks. Others asked
that trucks be sent to their homes.
Many expressed shame for their action.
Gold Trinkets Exchanged.
Everywhere the Government pre-
pared . drive to punish persistent
hoarders. The Reserve Board called
for the names Of all who rot gold in
the past two years.
Gold trinkets and bullion were be-
ing exchanged at United States assay
ofiices for cash. Some folk even ten
dered gold teeth and watches. The
Federal Reserve system passed out Fed
eral Reserve notes for gold and gold
certificates.
The penalties against boarding are
heavier than for many grave feloniss
Bankers expressed conviction they
would be enforced The big hoarders"
would be sought especially, they said.
One man phoned New York bank
Yesterday. He said he had t70O 900 in
gold and wanted instructions on how
to get rid of 1t. He got the tnstfuc-
ton.
The little fellows" were Just as lit
terry. Folks who had kept gift gold
pieces as souvenirs parted from them
with a sigh. A big business man, who
had received the usual S. In gold for
attending q directors meeting. read Of
the penalties against hoarders. His
hand went toward his vest pocket, nm
gered the gold piece, dropped It quickly.
Gold was hot today.