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CHAMBER GIVES LOYAL SUPPORT TO FINANCIERS Overflow Meeting Today Greets Bankers-Several Make Talks The business and professional men of Juneau today, through the Chamber of Commerce, filled the luncheon room of Bailey's Cafe to capacity to join in paying tribute in to local banking institutions whose soundness they exhibited unbounded confidence. The soundness of the banks and the community is coincident, it was pointed out of J. A. Hellenthal. As long as Juneau is sound, as its industries are sound, and its properties sound, and they are extremely so, the banking institutions will be likewise and in the same degree, he declared. Breaks Year's Record All attendance records of the year were broken by today's attendance of the Chamber. The luncheon room accommodations were exhausted, almost all the booths occupied and those unable to find room in either overflowed to the counter. B. M. Behrends, President of the bank bearing his name, and Samuel E. Pope, head of the First National Bank, said they expected these institutions would be open for limited operations tomorrow. Both emphasized is was not possible for any local bank to function normally as long as the banks of the rest of the country are shut down, or operating on a basis of limited withdrawals. Pay Roll is Assured Mr. Pope formally announced that the monthly pay roll of the Alaska Juneau will be taken care of as usual. It might be that it would be necessary to delay it a he added, due to few days, the in sit- the uation that had developed States, but not longer than that By an enthusiastic vote, the Chamber adopted a resolution expressing its complete confidence in the financial integrity of the two banks and their ability to care for the needs of the community. and of the integrity and capabilities the personnel directing their operations. Hess Explains Legislation Senator Luther C. Hess, whose Bank Stabilization Act has just passed both branches of the Legislature, explained briefly the necessity for such legislation and how that necessity had arisen from the serious situation that has developed in the States. The banking crisis in the States, he pointed out, had made the nation-wide banking holiday necessary. The extent of its success depended largely upon the measures taken to apply to the banking system after the holiday period expires. All Alaska banks, Mr. Hess said, have funds invested in securities and loans. Due to these investments, it is naturally not possible for them to pay out all deposits at any given time. Nor would they ever be required to do SO except due to conditions of fear based on panic psychology rather than good business sense and reasoning. Empowers Banking Board The measure introduced by him gives the Territorial Banking Board dethe authority needed to protect positors and banks from a situation of that kind. It is purely will emergency legislation and never be used, except in emergency cases. He modestly rejected any credit for the measure. It is almost identical, he said, with the Washington State Law and the few changes made in it were evolved by he a legislative committee of which was but one member. Senator Hess predicted that the (Continued on Page Three)