The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
This file contained a transcript of a copyright-protected article that has been removed.
The citation for the original is:
"Three-Day Holiday Declared by Governor Bryan - National Banks Reopen Under Federal Regulations
but Most of State Banks Remain Closed." Commercial and Financial Chronicle, January-March 1933.
This article is protected by copyright and has been removed.
The citation for the original is:
"Nebraska Starts 2-Year Mortgage Moratorium." Washington Post, March 3, 1933.
DECLASSIFIED *
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San Francisco
MMf 3 ^
Board - Vaalm
fct**5 **
•
Special holidays ha*# basft d#cl&r«d Igr Proclamation
of S o n m o r i of all «tat«s in twelfth dl strt ot as foIlona
During taoafcli of March
Artiom - 2*3***
California - 2*3*^
Ida^o - 3 to IT* l u c lu s l f a
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This article is protected by copyright and has been removed.
The citation for the original is:
"Four-Day Closing in Nevada." The New York Times, March 3, 1933.
This article is protected by copyright and has been removed.
The citation for the original is:
"'Breathed a Spell' for Nevada." The New York Herald Tribune, March 3, 1933.
DECLASSIFIED *
Authority UAJ\$ S6Q^- ^
70,31/
March 3, 1953.
•*-r riijWiiv
•
Memorandum
Mr* Mooney advised the Secretary*s O ffice that
a telegram to the Reconstruction Finance Corporation
stated that the Governor of Nevada today proclaimed a
4-day holiday and i t was understood Governor o f Idaho
today signed moratorium b i l l which m s passed by L egis
lature yesterday.
No proclamation has been made by
Governor o f Idaho under th is le g is la tio n *
DECLASSIFIED •
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This file contained a transcript of a copyright-protected article that has been removed.
The citation for the original is:
"Nevada Holiday Bill Introduced." The New York Times, March 1, 1933.
This article is protected by copyright and has been removed.
The citation for the original is:
"Nevada Governor Tells Events Prior to Moratorium." American Banker, February 25, 1933.
This article is protected by copyright and has been removed.
The citation for the original is:
"Nevada Enacting Restriction Bill." American Banker, March 2, 1933.
This file contained a transcript of a copyright-protected article that has been removed.
The citation for the original is:
"Eight-Day Holiday Proclaimed on March 4." Commercial and Financial Chronicle, January-March 1933.
This file contained a transcript of a copyright-protected article that has been removed.
The citation for the original is:
"New Jersey Bank Holiday." Commercial and Financial Chronicle, January-March 1933.
DECLASSIFIED *
Authority j/A /h 5 * 6 0 ° ^
(COPY)
OOITFIRM&TI ON OF T 1L 3GRAM
JEC:CMP
12:00 noon
Federal Reserve Board,
March H, 1S33*
Washington.
Governor Lehman today Issued proclamation setting apart Saturday,
March U, said Monday, March 6, as holidays on which all banking institutions
will be closed.
The governor of New Jersey and the governor of Connecticut
has each taken similar action.
CASE
DECLASSIFIED *
Authority UAjfo
(COPY)
FSDURAL RESERVE BA3STK OF PHILADELPHIA
//
3V/
OOHFIKMATIOH
March U, I933
FEDERAL RESERVE BOARD,
Washington, D. C.
Under proclamation issued by Governor Pindiot early this morning
declaring bank holidey in Pennsylvania for Saturday, March Uth
and Monday, March 6th, this bank is observing a holiday today and will
observe one on Monday.
We fere notified by the Commissioner of
Banking in Hew Jersey that Governor Moore has declared similar
holidays for the banks of Hew Jersey.
The Governor of Delaware
has not acted as yet, it is presumed he will declare Monday,
March 6th a b ank hoi iday .
Aust in,
Philadelphia
Mil,
m
U rrice l^ o ire sp o n d c n c c
To
B0ARD
Mr. Smead_____________________ '■______Subject:__________________________ £<>^
„
,
From .__ Mr. McClelland_____________ -
FEDERAL RESERVE
rw February a*.1 9 3 3 ,
^-v?
/
/'
_ _ _ _ _ ______________________ !_________ :______
There is attached, for your information* a copy of a New
Jersey statute, approved February 21, 1933, which authorizes the
Commissioner of Banking and Insurance to extend the period for pay
ment of time and demand deposits*
COPT
s
CHAPTER 27* P. U
M
W m
ACT concerning banks* trust companies and savings banks*
BK If ENAC'HSD by the oenate end General Assembly of the Stats of Ifew
Jersey;
The Coranissloner of Banking m i Insurance is hereby authorized and
empowered in addition to all other powers* whenever in his judgment the clreumstances warrant it, to authorise any and all banks, trust companies and savings
banks under his jurisdiction.
(a) To extend for a period of ninety days, and for a further period if
he deems it expedient* payment of any time accounts where notice of withdrawal
has been given or may hereafter be given*
(b) To authorize the postponement for any length of time of the pay
ment of any proportion of the deposits In demand accounts, qS any individual*
fira or corporation as he may dmm necessary a M expedient* to be determined by
M i according to the ability of any hank* trust company or savings bank to pay
sueh withdrawals*
(c) To authorise all such banks, trust companies and savings banks to
thereafter receive new deposits which ahall besegregated fr a ^ the .
jo|A deposits,
and said new deposltiihall
the restrictions or liidtatloni
herein or that m y hereafter be imposed by the Condssloner of Banking and In
surance, pursuant to the provisions herein* and said new deposits shall be in
vested in such liquid assets as mly be approved by the Conolssioner of Banking
and Insurance in order that banks* txust conpanies and savings banks m y at all
times have sufficient funds to meet the demands on sueh new deposits in accord
ance herewith*
(d) Whenever the Coandssioner of Banking and Insurance shall authorize
and empower any bank* trust company or savings bank to act under the provisions
of this act, he is hereby empowered to istake and adopt such rules and regulations
as he may dean proper for the protection of the institution and stay require daily
reports in detail touching their financial condition*
2*
this act shall take effect immediately*
APPROVED 33SBHUAHY 21* 19 m .
Fe d e r a l R e s e r v e B a n k
o f
N ew Y o
r k
February 24, 1935•
Dear Governor Meyers
*
In order to protect certain banks in New Jersey a law was recently
introduced and passed in that state authorizing the supervisor of banks, when
ever in his judgment circumstances warrant, to permit banks to defer payment
of a specified portion of their deposits for such time as he may determine.
Such banks may accept new deposits which will not be subject to restrictions
but shall be payable in full upon demand.
So far as we have been informed, this law has been availed of by only
one institution in our district, the Jefferson Trust Company of Hoboken, New Jersey,
a memb^J^pk.
The enclosed photostatic copy (a) of a circular issued under date
of February 21, 1933 by the Jefferson Trust Company to its depositors quotes the
New Jersey Act of Assembly #195, known as the "Altman Bill" and notifies its deposi
tors that it is availing itself of the permission granted by the Commissioner of
Banking and Insurance to operate under the provisions of the act as of the close
of business Tuesday, February 21, 1953*
Also enclosed are the following:
(b) Fhotostatic copy of letter, February 23, 1933, from
the Jefferson Trust Company to Mr. L. F. Sailer,
deputy governor of this bank, notifying us that
the trust company is operating under the New Jersey
Act of Assembly #195, and instructing that all
deposits from the beginning of business Thursday,
February 23, 1933, be kept separate and apart from
the general assets of the company and maintained in
liquid funds.
(c) Copy of letter from Mr. Sailer to the Jefferson Trust
Company, under date of February 24, 1933.
DERAL RESERVE B A N K O F N E W Y C
2 *--------
2 /2 4 /5 3 .
(d) Copy of letter from the Deputy Commissioner of the
Department of Banking and Insurance, New Jersey,
State of New J e r s e y , to Mr. R. M. Gidney, assistant
deputy governor of this bank, enclosing
(e) Copy of a letter which the department is sending to
certain of its institutions re Chapter 27 of the
Laws of 1933.
All of the foregoing is sent you so that you may be kept currently
informed of what is taking place along the lines of recent legislation which
affects banks in our district.
At this juncture it appears probable that only those banks which have
practically no liquid resources will avail themselves of the provisions of this
act, so that it is difficult to say .just what its effect on the public mind will
be.
I understand that Mr. Logan has furnished you id.th cooies of the
Robinson bill passed by the Assembly of the State of New York on January 31, 1933.
Faithfully yours,
,/ • O ' / V
V
t VJ. H. CASE,
Chairman.
Honorable Eugene Meyer,
Governor, Federal Reserve Board,
Washington, D. C.
enclosures (5)
*This bill became low on February £1, 1333, by signature of tho Governor.
J E F F E R S O N
J M J S J
C O M P A N Y
( 6 -
HOBC^fcN, N. J.
*
TO OUR DEPOSITORS:
February 21, 1933.
The Legislature a n d the Governor of the State of New Jersey, have
deemed it advisable to cn a c t th e follow ing bill to safeguard the depositors
and banking structure of th e S ta te of N ew Jersey:
An Act concerning, banks, trust companies and savings banks.
Be it enacted by the Senate and General Assembly of the State of
New Jersey:
The Commissioner of Banking and Insurance is hereby authorized
and empowered in addition to all other powers, whenever in his judgment
the circumstances warrant it, to authorize any and all banks, trust com
panies and savings banks under his jurisdiction
(a)
To extend for a period of ninety days, and for a further perio
if he dten »3 it expedient, payment of any time accounts where notice of
withdrawal has been given or may hereafter be given.
(!>) To authorize the postponement for any length of time of the
payment of any proportion of the deposits in demand accounts of any
individual, firm or corporation as he may deem necessary and expedient, to
be determined by him according to the ability of any bank, trust company
or savings bank to pay such withdrawals.
(c) To authorize all such banks, trust companies and savings banks
to thereafter receive new deposits which :;ha!l be segregated from the old
deposits, and said new deposits shall not be subject to the restrictions or
limitations herein or that may hereafter be imposed by the Commissioner
of Banking and Insurance, pursuant to the provisions herein, and said new
deposits shall be invested in such liquid assets as may be approved by the
Commissioner of Banking and Insurance in order that banks, trust com
panies and savings banks may at all times have sufficient funds to meet
the demands on such new deposits in accordance herewith.
(d) Whenever the Commissioner of Banking and Insurance shall
authorize and empower any bank, trust company or savings bank to act
under the provisions of this act, he is hereby empowered to make and
adopt such rules and regulations as he m a y deem proper for the protection
of the institution and may require daily reports in detail touching their
financial condition.
This act shall take effect immediately.
STATEMENT
The design of the above act is to permit the Commissioner of
Banking and Insurance to make rules and regulations for the purpose of
protecting not only the bank but its depositors.
The following statement was issued by Charles H. Plenty, president
of the New’ Jersey Bankers Association, in explaining the purpose of the
i mergency bank bill:
“The Altman bill, passed by the New Jersey Legislature, Monday,
February 20, 1033, is a law somewhat similar to that of New York State,
and permits the Lank Commissioner where in his judgment a bank may
have too large a percentage of frozen assets, to afford such bank a reason•ib'e time to pav its deposits by requiring such depositors to present a
nin«tv-day notice of intentions to withdraw savings accounts, and per
mitting checking depositors to withdraw such percentage of their deposits
is in his judgement liquid assets would permit.
“The object of the bill is to safeguard the depositors in a perfectly
I ^nt bank where under present business conditions, inability to convert
frozen assets into cash might cause the closing of such institution.
“I have been asked to make this statement that there may be no
misapprehension as to the purpose of this new law.”
The J e f f e r s o n Trust Company has been granted permission by the
. oinripr of Banking and Insurance to operate under the provisions
fThTabove a e f a, of the close of business Tuesday, Februay 21, 1933.
°
Your cooperation and consideration ia solicited.
I
k k f k k s o n
T
u i s t
February
Co
m p a n y
23 * 1933 *
L. F. Sailer, E s q . f
Deputy Governor,
Federal Reserve Bank of New York,
New York, N. Y.
Dear Sir:
The Jefferson Trust Conpany is op era tin g under
New Jersey Act of Assembly #195* k n o w n as the
"Altman Bill" and, under that Act, all deposits
from the beginning of business Thursday,
February 2 3 * 1933* shall be kept separate and
apart from the general assets of the Company,
and maintained in liquid funds.
It is the intention of the Je ff er so n Trust
Company to maintain all funds received from
depositors in the Federal Reserve Bank, and
we wish to open this account as "The J e f f er so n Trust Company of
Hoboken, New Jersey, ope rat in g
Under Act of Legislature #195*
New Jersey - Approved February
This account, being distinguished as above
outlined, we request that the Federal Reserve
Bank advise the J ef fer so n Trust Company that
no part of this new account will ever be co n
sidered as subject to any loans or discounts
that the Jefferson Trust Company now has or
might in the future have with the Federal Reserve
Bank.
Thanking you for your cooperation,
we remain,
DECLASSIFIED *
Authority 4/ 'V h S c C
^
s*ikzt'
February £4, 1933,
Mr, Charles H. ^ocht,
President, Jefferson Trust Company,
Hoboken, New Jersey.
Dear Sir:
F-eceipt is acknowledged of your letter of February £3, 1933,
advising us that the Jefferson Trust Company is operating under New
Jersey Let of Assembly #195, known as the "Altman Bill” and that, under
that Act, all deposits from the beginning of business Thursday, February
£3, 1933, will be kept separate and e«part from the general assets of the
Company, and maintained in liquid funds.
As requested by you we have opened a new account designated "The Jefferson Trust Company of Hoboken, New Jersey,
Operating Under Act of legislature ^195, New Jersey Approved February 2 1 , 1933."
tie agree that funds accepted for deposit in this account will not be ap
plied by us in payment of any loans or discounts heretofore ir.ade by us to
or for the Jefferson Trust Company, or to the payment of any loans or
discounts hereafter made by us to or for the Jefferson Trust Company the
proceeds of which are not credited to the above account.
Yours very truly,
L. F . SAILER,
Deputy Governor.
DECLASSIFIED *
Authority U A J h ? 6 0 3 .L
STATE OF NEV' JERSEY
DEPARTMENT OF BANKING AriD INSURANCE
TRENTON
February 25, 193c*
Mr. R. M. Gidney, Assistant Demity Governor,
Federal Reserve Bank of Nev; York,
New York, N. Y.
Dear Mr. Gidney:
As promised you over the telephone this morning,
I am enclosing herewith a copy of the letter which v:e are
sending to certain of our institutions re Chapter 27 of the
Laws of 19b5.
Very truly yours,
(Signed) V. D. Peer,
Deputy Commissioner.
Enc.
STATE OF NEW JERSEY
DEPARTMENT OF BANKING AND INSURANCE
TRENTON.
Gentlemen:
Pursuant to the power in me vested as Commissioner o f
Banking and Insurance under the terms o f Chapter 27, Laws o f 1955
and deeming the circumstances to warrant i t in your instance, your
In stitu tio n i s hereby authorized to operate commencing
,
in accordance with the provisions o f the said act with the fo llo w in g
re s tric tio n s and conditionss(a ) To r e s t r i c t the withdrawal fo r a period o f ninety days
o f a l l deposits as shown by your books as o f the close
o f business
excepting school savings and
club accounts and such accounts as are held p referred
by statute.
(b ) To continue to receive new deposits which s h a ll be
segregated from the old deposits and said new deposits
and the income therefrom s h a ll be invested in such
liq u id assets as may be approved by the Commissioner
o f Banking and Insurance in order that the in s titu tio n
may at a l l times have s u ffic ie n t funds to meet the
demand o f such new deposits in accordance herewith.
In view o f the authority herein conferred the fo llo w in g ru le s
and regulation s are imposed while operating under th is acts
(1 )
No dividends sh a ll be paid to stockholders.
(2 )
No payment o f fe e s to d ire c to rs o r committees.
(5 )
No new loans o f any kind or character may be made.
(4 )
That the in te re st payments on the deferred deposits
be continued as heretofore.
(5 )
That the Commissioner s h a ll be supplied bi-monthly with
a complete statement o f the in s t it u t io n 'e fin a n c ia l
condition.
(6 )
That as soon as p o ssible during the above mentioned ninety
day period, there s h a ll be made a v a ila b le to a l l de
positors a pro ra ta portion o f th e ir accounts, such per
centage to be approved by the Commissioner upon ap
p lic a tio n to him by the in s titu tio n .
(7)
The costs of protests occasioned by this authoriration
shall be borne by the institution in all cases vhere
depositors* accounts are sufficient to meet checks
presented.
(8)
That the authority herein conferred may only receive
further extension upon the approval of the Commissioner
upon application to him at least ten days orior to the
expiration of the term specified.
(9)
From time to time the Commissioner reserves the right to
change or alter in any way deemed advisable by him the
rules and regulations above enumerated.
Received
Please acknowledge receipt.
Very truly yours,
Commissioner.
2/S4/52.
This article is protected by copyright and has been removed.
The citation for the original is:
"Jersey Bankers Association Head Explains New Law." American Banker, February 24, 1933.
DECLASSIFIED *
Authority UAJ\$
'p — 1- - ....
^
.....
This file contained a transcript of a copyright-protected article that has been removed.
The citation for the original is:
"New York Restricts Her Bank Affiliates." The Chicago Banker, April 29, 1933.
DECLASSIFIED •
Authority i/AJYs 3*60=^^__
V:
New York
Mar U 12:17 PM
■
j
/ivv.*'* ^
//
*A
/
v_ / .
Board - Washn
/
Governor Lehman today issued proclamation setting apart Saturday
March H and Mond^r March 6 as holidays on which all banking institutions
will be closed.
The Governor of New Jersey and the Governor of Connecticut
has eadi taken similar action.
CASH
12:32 PM
DECLASSIFIED *
Authority U A j h ? 6 C<2 t>
M IS C . 3 4 . 3 4 0 M - 8 - 3 I
C O N FIR M A T IO N O F T E L E G R A M
FED ERAL. R E S E R V E B A N K
-
V '7^ *
OF NEW YORK
^U
t
0- ?
TO BE MAILED
#»8§fW
IStOQ aoaaa
s3
WE HAVE T O D A Y T E L E G R A PH E D Y O U A S F O L L O W S :
ffegtiwl Re#«r*« Board,
Governor Leha&n i^di^r Issued proelasation setting *$*&%
Starch 4, and Monday, March 8^ imk holidtjrs on
will fe* eloged*
Hi# governor o f Mm im m ? tad
ha® each taken similar action*
asp jMMOHng
governor of Ooaneetlstii
This article is protected by copyright and has been removed.
The citation for the original is:
"Governor Signs Bill Amending Bank Law." American Banker, February 23, 1933.
This article is protected by copyright and has been removed.
The citation for the original is:
"Is the Robinson Bill Constitutional?" American Banker, February 28, 1933.
This file contained a transcript of a copyright-protected article that has been removed.
The citation for the original is:
"Banks Reopen Under Restrictions." Commercial and Financial Chronicle, January-March, 1933.
DECLASSIFIED *
Authority U A/b
0^ ^
V7 e >
71.
- 3 //
(L *u
Xao@nliig filigndi
Oororaor of Ylrgiala liasdoolarod l i m b 6 and 7 logal holidays*
Gororaor of M&rylaad deelarod Haroh 6 logal holiday «Ad ao do\ibt
will oxtoai holiday to Maroh ?« 5x?»et Qiftfwr i « r ^ Carollaa
* will tako aotloa today doelarlng botfc days holidays and antlolpato
that this offioo aad Ita Baltimore and Cfcarlotio bxaaohos will bo eloaod
both days*
la any «rreat Rlohnoad hoad offioo aad Baltimore branch
will bo oloood for boslaoss tomorrow
V i U wiro definitely M r *
Waldoa
Blcfemoad Mar 8
U s S S AX
1935
This file contained a transcript of a copyright-protected article that has been removed.
The citation for the original is:
"Governor Langer Proclaims Temporary Banking Holiday - Banks Reopen Under Federal Regulations."
Commercial and Financial Chronicle, January-March, 1933.
This file contained a transcript of a copyright-protected article that has been removed.
The citation for the original is:
"Almost All Banks Reopen Under Regulations." Commercial and Financial Chronicle, January-March,
1933.
DECLASSIFIED Authority U A J h
I I L E G R A M
H
EEH£L RSSSRVE SYSTEM
?&e*
i . B u
3 /s fs s
Cleveland
1152a.
mck
§
Board
'
Washn.
Our lufonnation 1&at u M e r so clreamBtaaees will Qfrio governor declare
holiday tomorrow therefore unless national holiday oar otber action conforming
status all Ibder&L Reserve Basis intervenes we will be obliged to open m i n
office at Cleveland and Cincinnati braneii tomorrow
stop Pittsburgh, brandi
will be dosed purauairfc to PeaaBylvaals Governor*^ proclamation.
F&ncber
11578UBU
DECLASSIFIED *
Authority UAJ\^ 3 c Q^- ^
^
( C O P Y)
BANK
V70 . 3
of Cleveland
March 3,
1933
Dear Mr, Morrill:
?
Pursuant tp your telegram to me of this date
and my reply thereto, I am sending you, "by j£r Mail,
the se do cum ent sj
0
%
1. Copy of resolution passed by
the Cleveland Clearing House
Association on February 26,
1933 .
2.
Duplicate copies of section
710-107a, amendment to section
710-89* amd new section 710-S9a,
all passed "by the General As
sembly of Ohio on February 27»
1933» as emergency measures,
and signed by the Governor on
that date.
3.
Duplicate copies of form of
contract which our cousel
have prepared for the Federal
Reserve Bank of Cleveland pro
viding for the opening of
special accounts and special
deferred credit accounts by
member banks with the Federal
Reserve Bank of Cleveland.
These contracts, in this form, have been
executed by certain member banks in Cleveland today and
are operative at the present time,
Very truly yours,
(Signed) 3J. E. Fancher
Governor
Mr* Chester Morrill,
Federal Reserve Board,
HRashirgton, D. c.
F .113 Unc .
/j
This article is protected by copyright and has been removed.
The citation for the original is:
"Limits Set by 500 Ohio Banks." The New York Times, March 2, 1933.
This article is protected by copyright and has been removed.
The citation for the original is:
"Ohio Bank[ing] Summary." American Banker, March 2, 1933.
This article is protected by copyright and has been removed.
The citation for the original is:
"Tension Eases in Ohio." The New York Times, March 2, 1933.
This article is protected by copyright and has been removed.
The citation for the original is:
"New Ohio Law Permits 120-Day Withdrawal Limit." [Unknown Publication], March 1, 1933.
This article is protected by copyright and has been removed.
The citation for the original is:
"Text of Two New Bank Relief Bills." [Unknown Publication], February 28, 1933.
These articles are protected by copyright and have been removed.
The citations for the originals are:
"Limit Withdrawals of 5 Akron Banks." American Banker, February 28, 1933.
"Dayton's 3 Banks Agree to Restrict." American Banker, February 28, 1933.
DECLASSIFIED *
ority
Incoming Telegram
Cleveland
2:39 R1
February 27
Board - Washington
Cleveland, Akron and Dayton banks excepting National
City Bank Cleveland have adopted a restricted payment basis
on all deposits as of the close of business February twenty
fifth nineteen thirty three pending enactment of proposed
legislation by Ohio assembly now in session.
It is anticipated
other banks in Ohio may adopt similar emergency restrictions.
While such restrictions are effective all checks or other items
drawn on or payable at banks imposing restrictions will be pre
sented as usual but credit will be deferred until payment is
received by us.
All unpaid checks will be charged back and
returned to our endorsers as promptly as possible.
The amount
of each check included in cash letters to our remitting banks
upon which we have been unable to obtain funds in payment will
be charged back and the items returned where possible to obtain
them.
On account of disturbed collection facilities throughout
the country we have effective today and until further notice
instructed that direct sendings of country checks to other Fed
eral Reserve Banks and branches be discontinued, and that all
such checks payable outside of this district be functioned
through this bank or its branches.
Checks payable in Federal
reserve bank or branch cities will be handled as heretofore by
our
direct sending banks.
No checks will be accepted as noncash
'
DECLASSIFIED *
Authority U Alh ^ 6 0 ^ ^
%
-
collections.
2
-
We will continue to accept transfers for credit
of member banks in this district as usual.
Cleveland banks
on a restricted payment basis have announced that they are re
ceiving deposits made February 27th and thereafter subject to
demand withdrawal without restriction.
E. B. FANCHER
This file contained a transcript of a copyright-protected article that has been removed.
The citation for the original is:
"Bank Holiday Extended - Bill Granted Power to Banking Commissioner to Limit Withdrawals Signed by
Governor Murray." Commercial and Financial Chronicle, January-March, 1933.
Authority j / A / b ?6 Q c2 L
/
Incoming Telegram
Dallas
Mar 3 II
Meyer - Washington
Yesterday afternoon the Governor of Texas issued proclamation declaring
a financial moratorium during the period from Mardh third to March seventh
Inclusive and requesting all banks In the State to remain d o s e d during that
period.
Ibis action was taken following an extended series of conferences and
consultations beginning Wednesday afternoon and participated in by officers
and member* of Clearing House Association of Dallas ft Worth, Houston, San
Antoniot Waco and Galveston.
The decision to request Governor to declare
moratorium followed similar action taken Wednesday by Louisiana, Oklahoma,
Arizona and Califo m i a and was considered necessary on account of heavy with
drawals experienced by Texas Banks during past week due principally tp spread
of state mo r a tori un movement and anticipation of similar action by I?exas.
Texas legislature now in session and I understand effort will be made to
*nact a law pladr^; temporary restrictions upon deposits In time to enable
Governor of Texas to lift moratorium Sunday March fifth and tjermit beaks to
open for business Monday March sixth upon a restricted withdrawal basis.
We do not know however ifcether such legislation will be consummated before
next Monday or not.
Our bank is operating as usual. So far as we hare
been able to learn all commercial banks in Texas both state and national
will probably observe holidays declared by Governor Ferguson and remain
closed until moratorium is lifted except the Austin banks and a few country
banks that have indicated their intention to remain open.
We have received
no detailed Information concerning the moratoria in effect in Louisiana,
Oklahoma and Arizona except announcements carried in press reports and
Authority i / A / h ? 6 0 c2 ^
h
h
h
h
i
^
h
^
- 2 -
advices from the Federal Heserve Banks in whose territories the capitals
of these three states are located.
However we are endeavoring to obtain
official copies of the proclamtions issued in these states and if you so
desire will wire you details of same sfeen received.
Walsh
2:23 PM
This article is protected by copyright and has been removed.
The citation for the original is:
"Some Oklahoma Banks [Open]." The New York Herald Tribune, March 3, 1933.
This article is protected by copyright and has been removed.
The citation for the original is:
"Some Open in Oklahoma." The New York Times, March 3, 1933.
DECLASSIFIED •
Authority i/A /h ^ 60 ^ ^
11 a40 AM * MarcfcE, 1933
tumorai
to
fm
Tto*
boas ®*
Q f f l m has b^«a uLaofficielly
ad-rlssd that the ao*®r®o* Qt Gklahflna has declared a
b a a M n g h o lid a y f f w a 9 :0 0 A . M. B fereh t , t o 9 :0 0 & . M*
liBjro® jb \ESPHfimy/*
o.» s#
I
DECLASSIFIED *
Authority UAJh 3 6 ^ ^
»p|r r- ■■■■
....
@ , 3>! /
Inooaing Telegram
3 /z .j 3 3
Kansas City March 2
1:02 pa
Board - Washington
?0r your information we hare today sent the following
r l
\
• '
telegram to all M o r a l Iteserve Basks:
"Governor Oklahoma
has declared bank holiday effective today and extending
until Monday March sixth*
No credits for cash letters avail
able today or taring continuance of the holiday will be made
by our Oklahoma City Branch*
Cheeks on Oklahoma banks cannot
be presented or collected during such holiday and will be
returned promptly by us to endorsers*
Wire transfer for
credit of member banks will be handled as usual and transfers
for payroll and other necessary purposes for delivery to
customers of member banks will be handled when purpose of
transfers is stated which we request you firet to carefully
investigate in order to prevent abuses*
flease advise branches
and direct sending members".
Hamilton
3
pa
ujicLAaaijhiiiij *
Authority I ' V h
Sec a t
FO R M 1 2 1 0
----
'
FEDERAL RES* .VE BANK OF KANSAS C.
V
PRIVATE WIRE SYSTEM
r
j?
O U TG O IN G
TO
Boaal • Washington
d a te
M a r ^ 2 t^1933*
r u sh
X£:4& pa
For yoor iaforiaeLtifm* we have today seat the following telegraa to all federal reserve
banks:
^JOTE Governor OkXahoaa Isas declared bank holiday effective today and extending until
l?ofi&ay March sixth,
B© credits f©r cash letters available today or during continuance
of the holiday will be m&m by onr Oklahoma City Branch.
Cheeks on oklahona banks
cannot be presented or eolleetcd $>w£m «**& holiday aad will be returned promptly by
us to endorsers*
H r # transfera for credit of sember banka will be hailed aa usual
a M transfers for payroll aad other necessary purposes for delivery to customers of
taaaber banks will be handled when purpose of transfer is stated which we request you
first to carefully Investigate la order to prevent abuses.
Please advise branches
aad direct sending lumbers* tHOTOfS
'CONFIRMATION
^ PftS£ ^ |r
U N IT
NO.
6 # * £ ftU 4Dij
S E N T forBFRASER
Y
3 |
Digitized
S
Hamilton
[
DECLASSIFIED •
Authority
DECLASSIFIED *
ority
~
m im
^
*m
K jtc u tiim
m $
3
//
$ A J '4 0 + * -
s'
H i e .
- *
Coveriag tba Qpvmtim of Banka i«atriet#<I ttedor tr*o
Provlaio&a of Chapter 2%0t Oregon tei« 1933*
X*
(g
(
;■
-
^~^clVE£
- J.' 1 o f'3:
~
0«4ipla*a all 3r?triaa ©ovarlisg transactions nado prior to t&a tiiaa t&« ordar
far restriction booa»o affootiv*,
2. S&a portiaa of *&« deposit balrnoas sfeuni la Tjnrostrieteri racist bo sot aaida as
& trast for ta* bonaflt of tho depositors ooxio#niad and meata a^al to t&a
total of tbaa* trusts mast bo aagrag&tod ft©® tho otfcsr a»5?ats of tfeo bank
as k#ralimftor prsiridad.
3*
Taat portion of tJa® doposlt bal&oaos wfeloh 1# not to bo md o r restriction s&st
ba tr&®forrsd to no* lodgor aooounts, as followst
Bra* a rod lino m m m tfce old logfsr 8&o#t msior th® last ontry and t&on
pout a dsblt for tho aaount anion in mroirtriotod* Wrmi tias to tins* as
additional araonnta are ral«aaod tb*#o mm ntm »ro t bo dad^ot?d, deductions
to b© paatod In tna r^ilar a mmor pwnmaot to proper as&it slipu
fke amount of tn© anrostriotod balmaoe aiicmld bo posted as a credit
m tna mm led&or afcestt#
Th® l«dgor t&eata showing tba a»o nt of unrestricted balenftos a&orad o#
kept separate trm %
twm shoving restrioted sooountB*
4. At tno tiaw of tko first txmrsafor froa m revtrlote* aooo^nt to an unrestrieted
aocaimt, if tna cyaomtt to bo transferred io lea# tnaa $1*00 tho b&ak saay
la its discretion transfer tne wm of 11*00 to tna mm account* bat io asking
subsequent transfers no traditional mm should bo credited to any mch. aoeount
uatil the aooo*mt would be oquitnbijr oittitlod to additional fonda baaod on t^a
a^rog^to p«ro«mtago i^i^ tea boon rolsmaod*
la apoolal mmm or im largor Inatittitlo^i tha 3uporint#R<i#^t of Banka
say 1ft M s diaeration foralt a licrgor ®lnl^as t^an provldod i» tTiie rulo.
5« ^sa^ md bmlmnot@ la astaorlaad r^a^nro b^oike, ^q^&l to %im%
®%®1 amaat of
t^a mrortrlatod dopoeit tmlr^iso-a, atoll bo aagregatad and kopt oej^uratoljr*
It la not m fflQ lm t to m k « tbl» mgTGg&thm on tha books ©rOy* An aotaal
^yaloml segragatloft
mmt
be »ada«
4*
doparato oontrol aooooata ^o^ld bo ap««od im tba g^ar&l lod^»r and aapmrata
etttriea a^ uld ba a»tda an tho dally atato&Kmt for ^11 Xlabllltloa ropr&»o^tod
by t^a mroatrlotad. portloa of doposlt^ a»d all asaota aot aalda to oovar
th«.«a dapmita*
7.
fo« eaw dally utmmmt, ai^J ^jaoral la0gar atioiild b&lr,m# aftd sa^uld &
q m
kapt tl^at t^#y miy b# aaally balaisaod ao^imtoly Cress tHa old aoao^sla of
t)M» b«£^« It eay bo ooo$ai?«ry to 'u©o tw^ daily statossent ar*o#tav oiia for
tko r^striotod and oaa for tia© usir&atrietod asoata «y&d llabilliioa.
&•
Popoalta r*miv^ 4. s&baoQoontly to tHo ord,-r of r#iitrietion p^tat alao ba
a«^r«gn.t^i aad «iiall bo poatod in tlit lodgor c^oa wnioh tIm wroatrlotod
portion of tbo old d^poait ttm batst aaatorad*
+
DECLASSIFIED Authority
UAlh?6G3-t
and imbiMKpoiit dog#»£t« nyr® ts#t to b* inv«»ted
lil««l written agtborlty hna b#*a «fe(NtIii«& fro® tb# ^«p*rint*mS*ttt of Bar.*».
I#*
£& enoo*8 and wit^.Jrawatf #nn bo paid only ag&li*»t «nr«»trict>d dopoolt bala®#**
&!£•$* a* prorlrtod nndor S*« UU
11.
a*#tytot#d dopooito a*yr bo vr«n*farr#d fit any tiao wltfcin tbo *s»o dO£artst«*i*t bjr
of a ofeook fr#forIy d#*igfiet*d or tr btSfet smmm of *sni#»ifttt providod
that no oaofc la t# b* p*dd out la
witfe m&
tr»n#f#r*
If#
tootrlet#*! dopM&t beJUuoooa wlibln tha m s o inf«r*«§3$f» «hl«fa fcwro not bourn trt*n»~
ferrod fj»*y to* o^fUbid or offoot frt4t flat to tiao apoo attnrod notoo or otHor
obligation* owod to tb# tank by tho Idontioiil do§#»lt«r* Ksotriotod b&lanooo
®»fe*8fii*t*l|r traoforrod and reotriotod &o p*«¥idsd la
1 1 *8f *®t b« offaot,
All offoota of f-*otriotad be&n®*#* ®e#t b* b©t*o*&
m€ obligation*
w M e n aro 1a tft« m m c^ywrt««»jit. S«wrl®jp doposite tttjr not bo offoot on
eoanorolal n»t#0 *n<5 o<*&3«roiftl aopooitn *«*? not be of foot oa «*ivin£« notoo.
Wttb tfe*
of tH« d»$e$it*r &
doi>atrit fe&lo&e* me& bo
aj/pliod or offoot w$m m.
of tbo
*opc»ltor wiilon i# not do#.
13.
Usr^'KttiirtHMl danoiiito *»y bo
d® <&lS4£8 *i0 Wi to lim b»nk at anj %\m in
tbo i w scannor a* in «*y going lBBtltiitloR*
14*
@*OErdratt* aro prohibited.
IS*
-«po*U* and
on tBiPi*iriot*d anootwtto w ill bo iaaidlad U tiso «hm «m~
nor &■ la « i/ #©iag ln* t' tu tlo n .
li.
So portion of mgr t i m
If#
Cortlfiottt«« of
or «ymier« ohoo»t9
b# bancilod in tha foll««irin£ amnn#:
A Mpftrsto l«4g«r «b*«t
be proj^oroU «iowin« tb« nauab^r, dato,
*wt%lt%w*m *U%ll
4&t#t flMMt of p^T9iia4>«r»
b# n«d# tmtii
af p-ajr®o iti#. sano^Jtt of
i# 4u*«
im tn sw a ti
3rtar%l M m i t .|jm«4 to tbo ««fw» pe^«o wty b« ^laoe4 oft tbo o a m otio#t.
Tiio «aount of tho xsnr«»trlotdd d^oslt !■ to t» jo<hiot*»4 » i 1« to b*
•nt*r«<l m »
on a new l&Agor aom% or if a tbr«<» or four oolraa
lod^or la
it «*? Im *i^*r d Vn swu>th*jr c l s w of tbo w $ o lodgor 8ft*rt.
If
qpoa tin i M « 8b«ot tno two bolanooo B»»t ifam la ooparato oolenas,
Wmm tlkt» oertiflo«sto ia pra»oist«(5 for ^groMnt
to tho 4m
for
tii« fnll ti»o aln»4i It « m Ib«hio4 i* to bo addod to tfe* prinolp-1 an4 it to bo
onargod to littorost paid neoo «t on tbo rortrlctod lodn«r. tbo iittaroot ohouid
bo pro ratoa bot#o^n t^* ro«trlot«4 and onr^cttrioted portlo&o of- tbo prltwlpal
ants thon bo oroditod to tbe r^opootito jwcounts. *2tm «nr**trloted portion af
t&i ^rtlfio«»t# «s^ b# "$aX-$. or
onob will taro to bo
tronoforrod froa tfe#
to t&e mwfsi^rijrteii «tffe #f tuo bank to oovit*
tna anomt of intor««t orotJltod to tn« tmir^&triotod portion of tho o*rtifio to.
mo *aK*int so paid 'atel4 bo
«0»^r#«d npon tfc* bodli of tbo inotru-
mmt*
Itoo bonic will «!•» writo noro«« th*» l^o# of tu* inotra^rt tho followin«
worda «port 1*1 Jjr paid, itntpaid bnJUvtoo reotriotod*.
m not isfmo a n«*r
m oaot io r ’o oaoois^ for any r*»trletod portio
of o dopooit. All now
of tteiit ^®,fisot#r iteeeld bo ag^inot fro#
aocounto.
lntora*% m «ll e#rtlflOiit«# of ii^«it will mmm m
dno
onloo/
too bonk oabao^uaiitly
oontmoto otherwloo.
for the protection of tne bank's
at t&e ti®« they were w4i.
£&•
Bm Xmm mAm warn
tor
*r» licpid
wite§aa&sly »<?<n;r*<i mbq? Ha m d i froa restricted M « t
ffritttR reword
jsuet show tm mmmml^y fur each «u*li loam
This file contained a transcript of a copyright-protected article that has been removed.
The citation for the original is:
"Governor Meier Extends Bank Holiday." Commercial and Financial Chronicle, January-March, 1933.
D E C L A S S IF IE D •
Authority
UAJh
T E L E G R A M
¥ 7&.
F E D E R A L
R E S E R V E
^
S Y S T E M
3
bet
San Francisco
*Mar 4/237pia.
Board
Washington
We are infoimed that the Governor of
Oregon has issued a proclaaation
declaring Monday March sixth a state holiday
Sargent
55Q p
J
DECLASSIFIED *
Authority U A/fo ^6 0<3.^
*
Incoming Telegram
3 /i
d U tjL ^
San Francisco
liar 3-4
4:45 M
Board - Washn
Special holidays have been declared by Proclamation
of Governors of all states in twelfth district as follows
During month of March
Arizona
-
2,3,4
California- 2, 3, 4
Idaho - 3 to 17, inclusive
Nevada -
2, 3, 4
Oregon -
2, 3, 4
Utah
-
3 to 7, inclusive
Washington
- 3, 4 6.
Newton
9 :4 3 AM
This article is protected by copyright and has been removed.
The citation for the original is:
"Oregon Closing Permitted." The New York Herald Tribune, March 3, 1933.
This article is protected by copyright and has been removed.
The citation for the original is:
"Three-day Holiday [in Oregon]." The New York Times, March 3, 1933.
D E C L A S S IF IE D •
Authority
U A/fo Sc 0
L
L j-lo . 3 / /
This file contained a transcript of a copyright-protected article that has been removed.
The citation for the original is:
"Banks Closed for Two Days by Governor Pinchot." Commercial and Financial Chronicle, January-March,
1933.
D E C L A S S IF IE D *
Authority U Alb
& I* S il 14 A M
v e m w . m
m
H 7 V
m
? i t
'3 / s 'h
I
a*NHP$
M ail*, lltoll
Qudt
'S’^ a s w n *
JMI
<mfoajaii
i^ s ln s p^-% J^MtiiMl* u m i^ i^
^ H l » *i
nM M M t t
WUUL CStlS mm-rnmMm sfatmlMiim
1^ 1
. %^ y
<gy
Isswwwiiw w® v&Ul In ® b iss^ %# fiy m jpR-ft*
tan**. t O N r a *
i^n#
IH I4 bn ^ ^ 4 4 gM W tA %n S ^ si^ S i'W Ib fl<PF®£iM!iM?f® p@ss3^fcasBis&e
iH M ^ c ffi£ & ^ |
bm & &
DECLASSIFIED *
Authority U A/h 5<30c2 L
H l o , 3/1
n „.
a j ^ / S3
Incoming Telegram
Philadelphia - 11:25 A
Mar 4 1933
Board - Washington
Under proclamation issued by Governor Pinehot early this
morning declaring bank holiday in Pennsylvania for Saturday,
March 4th and Monday, March 6th, this bank is observing a
holiday today and will observe one on Monday*
We are notified
by the Commissioner of Banking of New Jersey that Governor
Moore has declared similar holidays for the banks of Hew Jersey*
The Governor of Delaware has not acted as yet, it is presumed
he will declare Monday, March 6th a bank holiday*
Austin
11:28 A
D E C L A S S IF IE D *
Authority iL /A /h
Wni—
"■■■■""
......
'
H 7 C ,
& /
March 4t 1933
M B ir o r a a t a a i
Hr* Moon*? adrisss the follow in g telegraa M a t by
Federal Reserve Bask of Atlanta to all
WmUmmX resort*
baaks;
•la accordance with tbs proclamation of
ths Governor of Georgia, this bank, Its branches
aad the agencies will observe March 4 and 6 as
a holiday*.
The following t#legra» sent to all Federal reserve
baaks by Governor Norris:
•Xa accordance with tbs proclamation of tbs
Governor of Pennsylvania this baak will observe
Saturday, liaroh 4, and Moaiay, March 6f as a
holiday.*
DECLASSIFIED ‘
Authority {J Ai h 36 0 ° ^ ^
fW H W .............
C223A
50m sets
TELEG RA M
10 80
FEDERAL RESERVE BANK OF PHILADELPHIA
PRIVATE WIRE SYSTEM
OUTGOING
CONFIRMATION
To
^
V IA
A
Date
March 4, 193<5
FEDERAL RBSEKV^ B0/;RD,
D. 0*
Under pro elimination issued by Governor Pine hot e?rly this morning
declaring bank holiday in Pennsylvania for Saturday, ?j[srch 4th and
Monday, March Gth, this bank is observing a holiday today and will
observe one on Monday.
We are nctifisa by the Commissioner of
Banking of New Jersey that Governor Moors has declared similar
holidays for the banks of New Jersey*
The Governor of Delaware
has not acted as yet, it is presumed he will declare Monday,
March 6th a bank holiday*
Austin,
Philadelphia
This article is protected by copyright and has been removed.
The citation for the original is:
"Curbs in Philadelphia Spread." The New York Times, March 3, 1933.
This article is protected by copyright and has been removed.
The citation for the original is:
"Withdrawals Restricted." The New York Herald Tribune, March 3, 1933.
D E C L A S S IF IE D *
Authority UAJh
*£ 7 0 * z / /
o .
V4/
Qiaotat ion from telegram from Cleveland to the Reconstruction
Finance Corporation
* * *
Certain banks in Pennsylvania and most banks in
Ohio restricting withdrawals under statute*
Situation changes
from fcour to hour and is not uniform with all banks in any
state*
Received from Mr* Mooney
6:00 p. m. - March 2nd,
%
3-?
DECLASSIFIED •
Authority U A/fo 3i>C<3. ^
This article is protected by copyright and has been removed.
The citation for the original is:
"Four Philadelphia Banks [Close]" The New York Times, March 3, 1933.
This article is protected by copyright and has been removed.
The citation for the original is:
"Pennsylvania Passes Restriction Law" American Banker, March 1, 1933.
DECLASSIFIED •
Authority (JAlh 3 6 0 ^ ^
Incoming Telegram
Philadelphia
11 AM
Feb. 28
Meyer - Washington
Following is resolution adopted by Pennsylvania legislature and
signed by Governor last nigjit.
Copy of Governors statement to press
will follow by mail.
"Resolved, that the senate and house of representatives of the
Commonwealth of Pennsylvania in general assembly met, hereby
authorize and direct the Secretary of Banking not to take possession
of any banking institution under the supervision of the department of
banking of this Commonwealth because of the decision of such institu
tion not to meet in full its liabilities for deposits made prior to
the passage of this resolution or prior to any future date fixed by
such institution if such institution shall have accepted such terms
as the Secretary of Banking shall have imposed which terms shall in
clude the segregation of new deposits in a separate fund available
for withdrawal without limitation by the depositors making such
deposits and invested only in liquid assets.
"Further resolved, that the general assembly hereby declares
its purpose forthwith to enact suitable legislation more fully to
effectuate this resolution and to relieve the Secretary of Banking
from all liability for complying with this resolution.
"Further resolved, that this resolution shall be effective
immediately upon its approval by the Governor."
Morris
11:27 A
This file contained a transcript of a copyright-protected article that has been removed.
The citation for the original is:
"State Has One-Day Holiday." Commercial and Financial Chronicle, January-March, 1933.
This file contained a transcript of a copyright-protected article that has been removed.
The citation for the original is:
"Banks Authorized to Operate Under Regulations Issued by Secretary of the Treasury Woodin by
Governor's Proclamation." Commercial and Financial Chronicle, January-March, 1933.
D E C L A S S IF IE D *
Authority t/A /h ^ < 5 0 °^
^ 7 0 .
Minneapolis Mar 4
9:52 AM
This bank is closed today observing holiday in accordance
with the proclamation issued by the Governor of the State
Minneapolis
11:00 A.M.
Governor of Minnesota has issued a proclamation effective
immediately declaring a holiday mandatory of all banks in
the state until further proclamation.
The Governors of
Montana, South Dakota and North Dakota we are advised are
doing the same.
In accordance with this proclamation this
bank and its branches at Helena will be closed
Geery
1 1 :4 5 A.M.
3 / /
This file contained a transcript of a copyright-protected article that has been removed.
The citation for the original is:
"Bank Holiday Extended Through March 10." Commercial and Financial Chronicle, January-March, 1933.
This article is protected by copyright and has been removed.
The citation for the original is:
"One Closing at Chattanooga." The New York Times, March 3, 1933.
This article is protected by copyright and has been removed.
The citation for the original is:
"Tennessee Holiday Law Sought." The New York Times, March 3, 1933.
This article is protected by copyright and has been removed.
The citation for the original is:
"Six-Day Holiday for Tennessee Banks." American Banker, March 2, 1933.
This article is protected by copyright and has been removed.
The citation for the original is:
"Chattanooga Banks Open." The New York Times, March 2, 1933.
D E C L A S S IF IE D *
Authority
U A/fo 3(>0 ^ ^
H
'l
FE0ERAL HESERVE BANK OF ATLANTA
J
s jl
March l t 1933
Federal Reserve Board,
Washington, D* C.
Dear Sirs:
For your information, I am enclosing herewith
a copy of proclamation issued by Governor Hill McAlister
of Tennessee, on February 28, 1933.
Very truly yours#
(Signed)
OSCAR NEWTON
Federal Reserve Agent.
Inclosure*
^
EXCERPT FROM PROCLAMATION ISSUED BY GOVERNOR OF
TENNESSEE — February 28th.
"Whereas the Governing authorities of many states
* * * * * * * * *
now^ therefore, I,Hill McAlister,as
Governor of the State of Tennessee do hereby declare,
and proclaim a holiday commencing Wednesday March 1,
1933, and extending through Monday, March 6, 1933, and
effective as to all banks in Tennessee * * * * * *
*«#
D E C L A S S IF IE D *
Authority U&J\s3& 0 ^ ^
H n o .
3t (
Incoming Telegram
%
3 3
Dallas Iter 3 11:46 AM
Meyer - Washington
Yesterday afternoon the Governor of t a s Issued proclamation declaring
a financial seratortaa during the poriod from Maroh third to March seventh
includive and requesting all basks is the State to remain dosed during that
period. This action m s taken following an extended eerie* of conferences and
consultations beginning Wednesday afternoon and participated in by officers
and members of Clearing Bouse Association of Balias Ft Worth, Houstont San
Antonio, taco and Galveston* 111© decision to request Governor to declare
moratorium followed slsdlar action taken Wednesday by Louisiana, Oklahoma,
Arizona and Oallfomla and was eonsldered necessary on account of heavy with
drawals experienced by Texas Banks during past week due principally to spread
of state Btorataiu» movement and anticipation of similar action by Texas.
Texas legislature now in session and I understand effort will be made to
enaet a law placing temporary restrictions upon deposits In time to enable
Governor of Texas to lift s»ratorlu» Sunday Maroh fifth and permit banks to
open for business Monday March sixth upon a restricted withdrawal basis.
We do not know however whether such legislation will be consummated before
next Monday or not. Our bank is operating as usual. So far as we have
been able to learn all eosmereial banks in Terns both state and national
will probably observe holidays declared by Governor Ferguson and remain
closed until moratorium is lifted except the Austin banks and a few country
banks that have indicated their intention to remain open. Ve have received
no detailed information concerning the moratoria in effect in Louisiana,
Oklahoma and Arixona except announcements carried in pres® reports and
i
'
D E C L A S S IF IE D *
Authority U A/h
-
2
-
advices fro® the Federal Reserve Banks In whose territories the capitals
of theoe three states are located.
However we are endeavoring to obtain
official copies of the proclamations Issued in these states sad if you so
desire will wire you details of same when received*
lalsh
This article is protected by copyright and has been removed.
The citation for the original is:
"5-Day Texas Closing Ordered." The New York Herald Tribune, March 3, 1933.
This article is protected by copyright and has been removed.
The citation for the original is:
"All Texas Banks Closed." The New York Times, March 2, 1933.
D E C L A S S IF IE D *
Authority
1
1 *
1,1
lf 7 o
%
A
3 / /
/ .
Inooiaing
/ /
/
/
-
/
San Francisco
to
3 -4
4 :4 5 1%
Board «* Washn
Special holidays hmm baen aeelared by Proclamation
© f Got©more o f all s ta te s l a twelfth district as follows
During month of Maroh
Arisona
- S,3#4
California* E, 5, 4
Idaho - I t ® If, inclusive
Hova&a -
2, 3, 4
Oregon -
2, 3 f 4
jssu-^
3 to 7, inclusive
Washington
- 3, 4 6.
Hewton
9143 AM
This article is protected by copyright and has been removed.
The citation for the original is:
"Utah Holiday Declared." The New York Times, March 3, 1933.
This file contained a transcript of a copyright-protected article that has been removed.
The citation for the original is:
"Two Day Bank Holiday." Commercial and Financial Chronicle, January-March, 1933.
DECLASSIFIED *
Authority UAJfa 3c>0&l
i n o ,
3 j /
Incoming Telegram
* /A
V_y
‘S '
Governor of Virginia has declared March 6 and 7 legal holidays*
Governor of Maryland declared March 6 legal holiday and no doubt
will extend holiday to March 7*
Expect Governor Nortji Carolina
will take action today declaring both days holidays and anticipate
that this office and its Baltimore and Charlotte branches will be closed
both days*
In any event Richmond head office and Baltimore branch
will be closed for business tomorrow
Will wire definitely later*
Walden
Richmond Mar 5
11:28 AM
1933
This file contained a transcript of a copyright-protected article that has been removed.
The citation for the original is:
"Openings Authorized Under Terms Permitted by Secretary of the Treasury." Commercial and Financial
Chronicle, January-March, 1933.
This article is protected by copyright and has been removed.
The citation for the original is:
"Three Days in Washington State." The New York Times, March 3, 1933.
This article is protected by copyright and has been removed.
The citation for the original is:
"Washington State [Holiday]." The New York Herald Tribune, March 3, 1933.
D E C L A S S IF IE D *
Authority
U A/h 36 0 ^
San Franc1soo
Ite $-4
4$ 45 SH
Board * Washn
Special
holiday* tiirs been declared fey Proelmaation
of (Jovem a r s of ail states in twelfth dletriet
During raoatli of Harsh
Arixoaa
-
m
follows
ftf9#4
California- I, 8 t 4
Idaho • 3 to 17, inclusive
Hevada *
2, 3, 4
Orogon -
2 t 3, 4
mah
-
3 to ?f inclusive
Washington
-3, 4 6.
Hewton
9:43 AM
D E C L A S S IF IE D -
Authority U AJ\s3c> 0<=^ ^
m
?
0
,
3
/'/
3 jz / 3 3
Incoming Helegram
San Ffcanciseo
Mareh 2
12:16 HI
Board • Washington
We are informed that Old national Bank and Union Trust
Co Spokane and following members of Old national Corporation
are operating under bank stabilization aot effective todays
First National Trust and Savings Bank Spokane; American Trust
Co., Coeur d'Alene, Idaho;
Washington;
Crest on State Bank, Crest on,
First National Bank, Grandview, Washington;
Harrington State Bank, Barrington, Washington;
National Bank, Lewiston, Idaho;
Lake, Washington;
First National Bank, Medical
First National Bank, Moseow, Idaho;
Security National Bank, Palouse, Washington;
Bank, Prosser, Washington;
Washington;
Prosser State
First National Bank, Reardon,
First National Bank, Ritsville, Washington;
State Bank of Spangle, Spangle, Washington;
Lake, Spirit Lake, Idaho;
Washington;
Lewiston
Bank of Spirit
First National Bank, Sprague,
First National Bank, Sunnyside, Washington;
First State Bank, Washtuena, Washington,
More definite
information will be furnished as received*
Newton
5 :0 6
m
This file contained a transcript of a copyright-protected article that has been removed.
The citation for the original is:
"Washington State Restriction Law." American Banker, March 1, 1933.
D E C L A S S IF IE D •
Authority
t / 7 o t J / /
f-t. .<**!.
March 2, 1933.
Memorandum
Mr, Mooney advises that the Governor of Weat
Virginia sent a telegram to the He construction Finance
Corporation instructing them not to pay more than %
to any one depositor of banks in the State of West
Virginia*
Mr, Mooney says that the R, F, C. believes
that the Governor of West Virginia sent telegrams to
all banks in the Stats of West Virginia and that one
nas sent inadvertently to the R, F, C*
This article is protected by copyright and has been removed.
The citation for the original is:
"W. Virginia Enacts Permissive Limits." American Banker, March 2, 1933.
D E C L A S S IF IE D *
Authority
*P— —H1"™
September 29# 1933
»r#
F o lg » r
'/1 o 3/ i
Hr* Sinead
7
Wlsoonain* Bxtraot fro® banking law# Kay 1# 1952, chapter 220#
paragraph 220*07* "Hhanavar the oomaissicmer of hanking* wit& &
Tinr to stabilising and readjusting the hanking structure of asp hank,
shall approve a stabilisation
readjustment agroewent entered into
between stash hsnk and tha depositors and unsecured creditors of such
hank whiah shall represent eighty percent of tha amount of deposits
aywi rmtatfttrafl credits of auoh bank* than in auoh aaaa* all other
dapositors and unsecured creditors shall ha hald to ha stfbjeot to tush
stabilisation and readjustment agreement to tha saiae extent end saae
effeot as if they had joined In execution therof, and their olalas
•hall ha treated in all sespaata as if they had joined In tha execution
of suoh stabilisation and readjustment agreement*"
/
D E C L A S S IF IE D *
Authority UAJ\s 3 6 ^ ^ ^
//
( C O P Y )
March 3, 1933»
' 16 :J6 AM
Memorandum for the Board:
Governor Mc^ougel of Chicago says that the Bank
ing Review Board of Wisconsin has sent out a telegram as
follows:
“Acting Governor has declared a holiday for all
banks in Wisconsin from and including March 3 to and
including March l6 . Therefore you are hereby directed
to comply with the proclamation and remain closed
during said time unless otherwise instructed by this
Board.**
Governor McDougal said that a number of the national banks
were inquiry what they should do and they were being told
to exercise their own judgment.
C. M.
This article is protected by copyright and has been removed.
The citation for the original is:
"Success of Wisconsin Stabilization Plan Reduces Casualties." American Banker, August 31, 1932.
This file contained a transcript of a copyright-protected article that has been removed.
The citation for the original is:
"Withdrawals Restricted to 5%." Commercial and Financial Chronicle, January-March 1933.
D E C L A S S IF IE D *
L
Authority _ V
-------------------------------------
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A C. 68A . 10M S E T S — 6-32
FEDERAL RESERVE BANK OF A TLA N TA
P R IV A T E
C O N F IR M A T IO N
W IR E
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A TLA N TA , GA.
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March 5 1933
PSDSRAL r ism tk ; BOASD
WASHINGTON
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