U.S. BANKS RE-OPENING

Hawke's Bay Tribune, Volume XXIII, Issue 77, 13 March 1933, Page 8

U.S. BANKS RE-OPENING

DIFFICULTIES OVERCOME. RESUMPTION IN STAGES. Washington, March 11. Mr Roosevelt announced that “the technical difficulties which operated to delay the opening of the banks, both State and national, have finally and substantially been overcome, and the banks throughout the country will be opened progressively on Monday, Tuesday and Wednesday mornings.’’ The President will address the nation over the radio on Sunday night to “ex* plain in simple language to all of you just what has been achieved.’’ The day’s developments in banking and related matters included a continuation of payments by the banks on a very restricted scale for the most necessary transactions. There are indications that farm leaders will ask Mr Roosevelt to become a “farm dictator’’ in order to cope with the emergency in agriculture. The large New York banks are preparing to resume virtually normal activity on Monday. Wall Street is expected to resume other financial operations gradually. There is little likelihood of the Stock Exchange resuming on Monday, and other principal security and commodity exchanges are expected to follow suit. Gold Continued to pour in to the Federal Reserve, 16,000,000 dollars in gold coin having been received, the largest yet, and ,7,000,000 in gold certificates.