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NO MORE 'PEGS IN FARM PRICES
The Spokane and Eastern company, the Washington Trust and the SeState banks, the holiday three Governor yesterday paying all All they will continue operate usual and will not take advantage of the holiday The runs, to employ bank expreswere the of about evident they had their force. returned ing the day redeposited their
"New Deal" Policies to Centralize Units.
ONE-MAN
JOBS
Commissions to Give Way to Individual Responsibility, Is Word.
By Associated Press, March end the farm board's heralded today two periment was on whom the incoming will rely in its efforts administration outlined their to provide programs for agriculture. of New York Henry revealed plans for sweeping reorof farm credit agencies which will and will tralized under his absorption of the farm of its to priand vate life soon.
Market Reflects Move.
Morgenthau placed emphasis what he gave his out of the taking government declaration policy which after swept nation's markets through credited for cents prices. Henry Wallace of will share secretary rection of the Roosevelt and inspected he had planned the ground nounced legislawork Through he bring tion. from proabout "an lands devoted to duction of farm to reveal details of Wallace He brought with him Prohis plans. Tugwell of Columbia fessor to be named asuniversity, sistant Three Units Go.
Morgenthau's plan the creation of four divisions will be by will will Morgenbe latter tentatively thau styled the unified agency the "farm of the farm board in The loans marketing making will form the basis of the groups division. Another will tivities one federal farm loan activitake over centered the Federal Farm bank board and its affiliates. The third division take the production bureau, $90,000,000 in engaged and farm federal funds, established by the Reconagencies struction Finance described "emergency by is planned for fourth the activities of the ment aiding the for Roosevelt expected to details of which reapproval and main be worked out.
New Trend Indicated.
Morgenthau's reorganization plan accepted indicative new The trend, which the administration will responsibiliinstead centering duties in the hands boards when that part of his Morgenthau They plan will require legisthat lation by but that some accomplished the next month by executive order.
Job in
"It may help the farmer, has to told different obtain to and various and agency "If out on him. plan farmto one place for his Howell and will do the check- will mean lower cost and cut farmhelp interest lower interest for farmer necessity which we
Withdrawals Abate.
Shortly after o'clock, the gradually at Spokane and Trust the of the bank resumed its aphappy of officers and the restoration conditions. Joel Ferris, president of the Spoand Eastern Trust have received great volume messages and personal calls: in fact, almost as people called to congratulate the tellers' the last number deposits opened. two from large companies. One large wired their agent deposit: Great large deposit from Minneapolis as of their cooperation and good
Commended by Supervisor. of banking of this state, Howard Hansen, wired us Conducting institution with policy merits mendation and the cooperation of feel also that continuing our definite business policy helpful to retail and business received number statements that "The withdrew only portheir savings accounts, explaining the funds required the payment taxes and other needs this time, and they voiced their intention to build up their accounts again. know that most of this money will be rather continue to be hoarded or kept in safe deposit
Quiet at Washington Trust.
The run on the Washington Trust had spent by terday there only the savings windows seeking deposits boy patronizing water fountain. All the spectators had vanished and even the street gallery Thurshad There was evidence of run at the Security State. Lobbies the Old National Bank and Union Trust and the First National Trust maintained their normal appearance throughout the day. Officials both reported many deposits under the setup by the stabilization It stated no word had been received from comptroller the currency D. C., respecting the situation, and none was expected until the comptroller der the Roosevelt takes hold of the reins and has sized the up locally and No official would venture an opinion when the under whose direction their banks are, might issue an order in connection payments.