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tutions are sound and the interests of our depositors are thoroughly protected, and will be at all times," the statement declared. Local business houses were doing a normal business. They were accepting checks in payment of accounts and for purchases, and cashing them for customers where it was necessary. "There is no reason for anyone to be alarmed about the local situation. The banks are sound and the finances above risk," declared John W. Jones, President of the Chamber of Commerce. "The Chamber and its members, appreciating the need for protecting local depositors from the effects of the abnormal situation that exists in the States, approve the banking holiday as being the best and most available means of protection," he declared. Proclamation of Parks The Governor's proclamation stressed the safety of Alaskan banks and emphasized the fact that the holiday was caused by suspensions and legislation in the States, particularly on the Pacific Coast. The proclamation follows: "Whereas, a majority of the states have declared holidays during which all banking institutions may temporarily suspend business pending the enactment of necessary legislation to meet the existing emergency and since the legislation that has been enacted in the several states directly affects the banking institutions of the Territory, it must be followed by similar action on the part of the Territorial Legislature which convenes on March 6th. The Banking Board deems it necessary to pursue the course followed by the several states and provides a period of three days beginning Monday, March 6th, during which period all Territorial banks may remain closed. "This action by the Banking Board is in conformity with the procedure adopted in a majority of the States and is necessary only because of the action taken by them and to permit our Legislature to enact remedial legisaltion. "Therefore, I, George A. Parks, Governor of the Territory, in conformity with the decision of the Banking Board, do declare the period of three days beginning Monday, March 6vt, as a banking holiday during which all Territorial banks may remain closed."
