First National Bank - Juneau, AK

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 5117
Charter Number: 5117
Start Date: March 6, 1933
Location: Juneau, Alaska (58.302, -134.420)

Metadata

Model: gpt-5-mini
Short Digest: d71a6ba2

Response Measures

None

Description

Banks in Juneau (including First National Bank) closed for the national banking holiday ordered by President Roosevelt (March 1933). This is a government-ordered temporary suspension; articles state banks will reopen for limited operations after the holiday.

Events (3)

1. April 4, 1898 Chartered

Source: historical_nic

2. March 6, 1933 Suspension

Cause: Government Action
Cause Details: Presidential proclamation (national banking holiday ordered by President Roosevelt); local governor's optional holiday superseded by federal order.
Newspaper Excerpt: In compliance with the order both B. M. Behrends Bank and the First National Bank posted notices on their doors that all business would be suspended until next Friday morning.
Source: newspapers

3. March 10, 1933 Reopening

Newspaper Excerpt: said they expected these institutions would be open for limited operations tomorrow. ... Our banks will re-open next Friday, (statement dated March 6) and by March 9 bankers expected limited operations tomorrow (March 10).
Source: newspapers

Newspaper Articles (3)

1. March 6, 1933 The Daily Alaska Empire Juneau, AK

Article from The Daily Alaska Empire, March 6, 1933

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Article Text

BUSINESS HERE NORMAL DESPITE BANKS' HOLIDAY Presidential Proclamation Mandatory and Local Banks Are Closed Business in Juneau today was proceding normally without regard for the temporary holiday observed by both local banks, effective today and running until Thursday night, in accord with the proclamation issued Sunday night by President Roosevelt. Its provisions are mandatory. Previous to the Presidential order, Gov. George A. Parks, after several hours' conference with members of the Alaska Legislature Saturday, and with local bankers, had issued a proclamation declaring a Territorial banking holiday, optional with the individual banks, for a period of three days, beginning this morning. It Is Superceded The Governor's proclamation, however, is superceded by the one issued by President Roosevelt. And in compliance with the order both B. M. Behrends Bank and the First National Bank posted notices on their doors that all business would be suspended until next Friday morning. In the meantime, the Alaska Legislature moved to enact a law which would empower the Territorial Banking Board to take action to protect the Territorial banks from any adverse affects that might result from banking holidays and restricted withdrawals in the States. The Territorial system, it was pointed out, is so intimately connected with that of the Pacific Coast States that any interruption to or disorganization of the banks there inevitably was reflected on the banking institutions here. Bill Is Introduced To safeguard local interests effectively, therefore, a measure was prepared by Attorney General James S. Truitt and was introduced in both branches this afternoon, by Senator L. C. Hess, Fairbanks banker, in the Senate and Repre(Continued on Page Eight)

2. March 6, 1933 The Daily Alaska Empire Juneau, AK

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Article Text

sentative Warren A. Taylor, Cordova attorney, in the House. It authorized the Territorial Banking Board to declare bank holidays, during emergencies not to exceed five days in length during which time the banks can remain closed in their own discretion. It would also empower the Board to permit banks to restrict withdrawals of funds for a 90-day period and "such further period or periods as the Board may deem expedient." Local Situation Excellent The entire Alaska banking situation is declared to be excellent. The present holiday, and the measures proposed in the bill now pending in the Legislature, are for the express purpose of keeping it that way, and to make it possible to protect the interests of depositors in Territorial banks. "There is no cause for any uneasiness on the part of Alaskans, and particularly of Juneau," declared B. M. Behrends, President of Behrends' Bank, and S. B. Pope, Executive Vice-President of the First National Bank, in a joint statement issued today. "We have closed our respective institutions for four days as required by the proclamation of President Roosevelt. We regard this step as one of the greatest importance to the whole country and applaud the statesmanship and vision that it evidences. "Locally, such a step would not have been essential to safeguard the interests of the public but for the suspensions of ordinary banking business in the States generally. But in view of the current national suspensions of banking operations, it would have been unwise for Alaskan banks to continue unrestricted operations which, naturally, would have led to withdrawals from the States by persons and institutions whose funds are tied up in their own communities. Will Reopen Friday "Our banks will re-open next Friday, unless, of course, the President should before that time order the holiday continued. The insti-

3. March 9, 1933 The Daily Alaska Empire Juneau, AK

Article from The Daily Alaska Empire, March 9, 1933

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Article Text

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)