Article Text
Banks Close for 3 Days The Farmers Bank of Merna was one of perhaps very few banks in the state to be open Saturday. No, it wasn't because the officers of the bank had defied the 3. day moratorium proclamation, issued that morning by Governor Bryan, but no official word was received at the bank until within an hour of closing time in the afternoon, when the telegram ordering the suspension of business was received. Even though the news reached Merna during the morning that Broken Bow banks were closed there was no excitement here. There was not the slightest indication of a run on the local bank. Everybody seemed to realize that the moratorium in Nebraska was applied only because all the other states had done the same. Perhaps a crisis like this will bring to the people a deeper realization of the value of our banking system. Business proceeded about as usual in the local business places during the week, checks being accepted under certain restrictions. Prices on farm produce sagged but the cattle and hog markets showed daily price gains. Friday morning something definite will no doubt be announced in reference to the operation of the banks. Present indications are that scrip will not be issued nationally, but the Treasury Department is rushing the issue of new Federal Reserve notes which are intended to take the place of scrip. A radio broadcast this morning [Thursday] from Washington, announced that the banks would reopen Monday, and full details will no doubt be announced in daily papers Friday or Saturday.