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MORATORIUM A Day Suspension of Six Business Following the example of many cities in the United States, and realizing that in the public state of mind the people might become unduly excited, the mayor and the city council met in the office of Mayor Poague, Monday morning and passed resolution requesting a business moratorium for six days. This action came after a meeting of the Chamber of Commerce, which had analyzed the business situation in Clinton and felt that this emergency measure was expedient and needful and petitioned the City to SO declare day holiday for all business. The resolution passed was as follows: WHEREAS, the Clinton Chamber of Commerce has requested week's holiday of all business houses in the City of Clinton, Missouri, beginning on Monday, February 15th, 1932, be declared, and WHEREAS, in pursuance of such action of the Chamber of Commerce, the City Council has met and passed resolution for a week's holiday asking the Mayor to issue his proclamation declaring week's holiday of all business houses in the City of Clin- ton. NOW, THEREFORE, I, Dr. Poague, Mayor of the City of Clinton, do hereby declare a week's holiday of the business houses of the City of Clinton, Missouri, for one week, beginning on Monday morning, February 15th, 1932, and request the business houses to observe same and co-operate in so far as possible to do Dr. Poague Mayor of Clinton, Mo. This notice was conveyed to the Brinkerhoff-Faris Trust and Savings Company, and accordance with its spirit of co-operation, was accepted and notice was posted just before the time for the usual opening Monday morning. Only last Saturday, in Jefferson City, merger of a National and State bank was in progress, under which large amount of new capital being put into the business SO that would be immeasurably stronger and better able to serve the people than were the two separate banks. But a rumor of the intended merger became public. Rumors affecting the stability of the two institutions brought about heavy withdrawals from all of the banks. No bank can withstand such conditions brought about by gossip-mongers and hysterical public. Business men acted as unit in asking for a suspension of banking business for one week, and the banks so acted, under proclamation by the mayor of that city. This measure was taken with the knowledge of S. L. Cantley, State Commissioner of Finance. In a telephone conversation on Monday, Mr. Cantley's office was informed of the action of the Brinkerhoff-Faris Bank acting in accordance with the council's reeolution and the mayor's proclamation. This paper recently deplored in strongest terms the circulation of base and unfounded rumors which brought about the closing of the PeoNational Bank. Everyone realizthat our censure was just and merhad caused the closing of that bank a precautionary measure such closing was then known and is now known to be entirely withnecessity and it was realized that measure must be adopted to bring sanity to a nervous and excited many of whom had nothing to and apparently no mission in save to cause trouble for the community. Meanwhile, over the whole country skies are clearing. The early passing of legislation releasing pubfunds for aid of financial institutions all over the land, indicates an early end of the panic. There were bank the whole country last week, fewer suspensions than in week any during the past year, while seven previously closed banks were reopenThe stock market, a pretty certain barometer as to conditions, is on strong upward trend. Everything is all right, except us. Quit hoarding, quit siping, quit rocking the boat, and be
