U.S. BANKS RE-OPEN

Hawke's Bay Tribune, Volume XXIII, Issue 78, 14 March 1933, Page 5

U.S. BANKS RE-OPEN

DEPOSITS EXCEED WITHDRAWALS NO DIFFICULTY IN MEETING DEMANDS. (Received 14, 2.15 p.m.) New York, March 13. Overhauled by Federal Government banking machinery, the United States began functioning without restrictions again to-day in the country’s financial strongholds. A total of 346 institutions in twelve Federal Reserve cities carried on normal business during the first day of President Roosevelt’s threeday programme. Many private banks also started operating. A few others opened under restrictions. Deposits are reported to be exceeding withdrawals in many cases. In no instance has there beer any difficulty in meeting all demands. The New York Stock Exchange is expected to resume trading within a few days. STUDY OF INVESTMENT PRACTICE. (Received 14, 2.30 p.m.) Washington, March 13. President Roosevelt has asked the Justice Department to keep a close watch on future disclosures by the Senate stock market investigating committee and to prosecute vigorously any violations of the law which may bo brought to light. Continuation of the inquiry, began during the Republican regime and or- | dered by the Senate banking commit- ; tee is now controlled by the Democrats. I It has been decided, however, to scruj tinise private investment practices and j public utility security issues in the immediate future and to postpone further ! study’ of commercial and banking praci tiees. I RE-OPEN FOR NORMAL BUSINESS. (Received 14, 11.30 a.m.) San Francisco, March 13. All San Francisco banks, both State and national, received licenses to-day to re-open for normal business. THE HARRIMAN BANK. (Received 14, 10.35 a.m.) New York, March 13. The Harriman National Bank did not open for business to-day when other Federal Reserve members opened. At the Harriman Bank it was stated that a conservator would at present take charge.