8470f4fa5edadfb9None
Click image to open full size in new tab
FISH IS ACCUSED. New Orleans, Feb. 4.-(R)-Representative Hamilton Fish, Republican. New York, was charged Saturday with starting run on the Hibernia Bank and Trust company here by Rudolph S. Hecht, president, through his reof Hecht before the house banking connection with corporation loans to the defunct Union Indemnity company of New Orleans.
Click image to open full size in new tab
RUN UPON BANK BEING CHARGED Fish Accused by Hecht of New Orleans of Causing Alarm by Attack. New Orleans, Feb. sentative Hamilton Fish (Republican) New York was charged today with starting on the Bank and Trust company here by Rudolph Hecht, president, his recent icism Hecht before the house banking committee connection with Reconstruction corporation loans the defunct Union Indemnity company New an exchange telegrams the bernia Bank Trust He added that nothing had flected on the bank; that he was review the information and did Hecht injustice the banks New in Louisiana many were proclaAllen the 16th the diplomatic with There has visible the bank Hecht that of Mr. criticism of caused millions dollars In New York today Mr. Fish said had the "utmost confidence Hibernia and nothing reflected on its stability sheer nonsense for the people New Orleans to take my criticism Mr. Hecht credit his bank,' the New York Before the committee Mr Hecht resignation the and demanded Reconstruction to concerns failed. telegram Mr Fish yesterday Mr. Hecht not and did not the Union Indemnity
Click image to open full size in new tab
CLOSING BANKS TOPS DAY DRAMATICS Huey Long, Rushing Home to 'Save the Nation', Charges New Yorker Caused It All FOLLOWS 'RUN' ON BANK Governor Allen Closes All stitutions in Unique 'Wilson Day' Proclamation NEW ORLEANS, Feb. series of dramatic, all-night conferences to combat New Orleans bankdifficulties was climaxed tonight by Senator Huey "Kingfish" Long's announcement that: to be all "Everything's going Long said he sped here to the banks of New Orleans and thus rest of the banks in the "keep the nation from failing.' Will Reopen Monday Long stepped of secret con ference, one many in which local banking officials, Gov. O. K. Allen and others have participated since Friday, to make his announcement. came after Governor Allen halted all banking business in the today with unique holiday proclamation and after announcement that the Hibernia Bank Trust of New Orleans and company had suffered run which led to withdrawel millions. Long said he all Louisiana financial institutions would open for business Monday publicity of 'Ham' Fish (Rep. Hamilton Fish of York) and speech terrible said Long working things out and going be right. the New Orleans banks under all the other banks the country would have gone under "That's why dropped everything and took up the bank problem." "Speech Caused Run" Rep. Fish charged in Friday affairs certain New Orleans financial institutions should He said that they had receivership after they had been granted Reconstruction nance Corporation Fish said believed that Rudolph Hecht. the Hibernia bank should president forced resign from the chairmanship the regional advisory committee of the Hecht with charges that speech caused the run on the Hibernia meantime called Long for conference. The stopped the proceedings issue the following banks are good in New Orleans. the best banks the matter what Fish has to about "He peddles false information all over the And look what hap pened! He ought to be ashamed himself. our banks fail, which isn't likely not now, all the banks in country would fail. The banks all the world would be affected. It would be terrible, horrible, awful. "That's why dropped everything doing when the governor called "Then he declared today holiday think darn good people chance get their breaths and what this Ham Fish did with his talking. "Anyway the banks are good and going not through by long sight here tonight, but the banks are going open day everything's going to be right."
Click image to open full size in new tab
With Charged Bank Run Starting NEW ORLEANS, Feb. resentative Hamilton Fish, republican, charged with startNew York, was the Hibernia Bank and ing run on here today by Rudolph Trust company Hecht, president, through his recent before the house criticism of Hecht in connection with banking committee Finance corporation to the defunct Union Indemnity loans company of New Orleans. of Fish In an confidence in the Hibernia expressed firm. visible run on the There was no Hecht said news of Fish's bank, but withdrawal of caused lions of dollars.
Click image to open full size in new tab
FISH'S CRITICISM STARTS BANK RUN Comes to Aid of New Orleans Trust; Official Blames Congressman (By The Associated Press) NEW ORLEANS, Feb Vaults Hibernia Bank and Trust Company stacked lions nance and sources today break run which the bank's president, RuS. Hecht, started Hamilton Fish criticized before the House Banking New York, last night the bank "sound and liquid.' dollars in cash were stored in the vaults sides funds there and positors invited draw their money they chose but ficials assured them stability the bank all other Black, Federal Reserve of Atlanta. Twenty million dollars were yesterday by and four million dollars additional were raised by the Hibernia Bank. the was precipiby RepFish that Hecht aided the Union demnity Company Orleans $4,000,000 loans from the shortly before went into the hands of Hecht, who is chairman of the the Fish that nor voted on the Union Indemnity plications Fish accepted Hecht's After attack, Hecht said started his bank out town On Sat urday Allen came the aid the bank by issuing holiday. lative Fish said he would which he had voiced criticism of Hecht.
Click image to open full size in new tab
R.F.C. Stops Run at Louisiana Bank NEW ORLEANS, La. Feb. 6Emergency action by the Reconstruction Finance Corporation in rushing $20,000,000 to the aid of the Hibernia Bank and Trust Company, of New Orleans, today had halted at million dollar run on the bank and eased an impending threat to numerous Louisiana banking institutions The R. F. C. last night provided the huge sum after Governor O. K. Allen Saturday had proclaimed legal holiday closing all banks and businesses in the state. Banks thruout Louisiana reopened today and officials reported that business had resumed as usual without a sign of panic by de-
Click image to open full size in new tab
HIBERNIA BANK VAULTS STACKED WITH MILLIONS of the Hibernia Bank & Trust company were stacked with millions from the Reconstruction Finance corporation and other sources Monday to which the bank's pres:dent, Rudolf S. said started after by Hamilton Fish, of New York, before the House Banking comTwenty four million dollars in cash were stored in vaults against funds already and depositors invited draw out their money if they chose. But they were assured it had during the bank's 62 Confidence the stability of the Hibernia bank voiced by all of the other New Orleans and by Gov. Black, of the Federal Reserve bank Atlanta who came to New Orleans to aid in meeting the
Click image to open full size in new tab
SITUATION OF BANKS IS EASED BY U.S. Possible Run on Hibernia Bank Averted: Saturday Holiday to Relieve Threat One of the tensest banking situations in New Orleans in recent years was relieved yesterday and today after the Federal Reserve bank, and state banking and political leaders issued statements and obtained funds which apparently has definitely stopped any danger of a run on the Hibernia Bank and Trust company largest in the South. A 'run by mail' began late last week after Congressman Hamilton Fish of New Orleans demanded in the National House of Representatives an investigation of the dealings between the Reconstruction Finance corporation and such corporations of the Union Indemnity company of New Orleans, favored bonding company of the Long administration. which went into receivership after getting R. F. C. loans. With this demand, Representative Fish asked the resignation of Rudolph S. Hecht, president of the Hibernia bank, from the chairmanship of the regional advisory committee of the R. F. C. The bank and the Union Indemnity had engaged in considerable financial dealings with each other. New Orleans papers Friday did not publish the attack, but other papers in the nation did, and financial leaders in the East and elsewhere, as well as smaller depositors began drawing out their Hibernia accounts with a rapidity which soon made the withdrawals run into millions. On Saturday, Governor Allen was told to call a legal holiday so as to permit the closure of the bank for the day to avert further runs. He did so, and over the week-end, R. F. C. representatives. other financial leaders, Senator Long and others combined their forces to safeguard the banks. Today it was announced that no further danger even remotely threatened the bank, and that millions of dollars had been placed at its disposal by the Federal Reserve to meet any possible run. Following are the statements issued by E. R. Black, governor of the Atlanta Federal Reserve bank. and the New Orleans Clearing House association. Senator Long also issued a statement. "It is gratifying to know that the unrest in financial circles caused by careless statements relative to the Hibernia Bank and Trust Company have been fully corrected. "Not only have the statements about this bank been withdrawn, but full and adequate steps have been taken to provide, on the security of the bank's assets, ample funds to meet all possible withdrawals. "E. R. BLACK, "Governor of Federal Reserve Bank, Atlanta." "To the Banking Public Tributary to New Orleans: "We are glad to be able to say to the public that through prompt and efficient cooperation arrangements have been made to stop definitely the threatened run on a member bank, resulting from unwise and unfortunate statements. "There is no occasion for any uneasiness concerning the New Orleans Clearing House banks, and business should be continued in the usual normal way. "The New Orleans Clearing House Association."
Click image to open full size in new tab
Greenbacks Cash and Stored in Vaults; Confidence Is Expressed by Officials. Trust with in from the and other today break run the bank's Rudolf said started after he (Rep. Y..) before the house million dollars cash and against already there were draw their money the stability of Hibernia bank voiced the other banks by Governor of Federal Reserve bank emergency. made Twenty the bank by the Finance ession in Washington day four dollars tional raised by the Hibernin Mr Hecht the bank was allegation Thursday that had the Union demnity from the Finance shortly before hands of the receiver.
Click image to open full size in new tab
ORLEANS BANK PLANS HALT Trying to Meet Requirements of Finance Corporation $2,000,000 Loan. IS SAVED BY HOLIDAY New Orleans, ficials Hibernia Bank Trust company tonight that directors of the McNary, session Washington today approved the the bank raised positors more the ground the was Bank officials said they believed they could senator and stop on the bank Early bled tonight the officials said had raised quired that the telephone were responding the favorably the The was started after RepreNew of special before the house in made defunct Union Indemnity by the banks were in New Or under Allen he issued suddenly Saturday the the ance between the United issued time action proclamation was lief prepare meet the run the which had suffered the bernia heavy out town by and officials the had been participated in any extent by New Orleans Merchants and industrialists were taken by Saturday's city they had difficulty meeting
Click image to open full size in new tab
R. F. C. Speeds to Rescue Of New Orleans Bank NEW ORLEANS, Feb. Hibernia Bank & Trust Vaults the stacked with millions from Co., Reconstruction Finance the to other Ruwhich the said started after Hamilton before the Fish Twenty four million dollars in cash stored vaults against already and depositors But they were their just during the bank's now had 62 Hecht years said the his bank precipitated Fish Thursday that had aided the Indemnity obtaining 000 from the shortly before it went Corp., into the hands the receiver.
Click image to open full size in new tab
R.F.C. Stops Run at Louisiana Bank NEW ORLEANS, La. Feb. 6Emergency action by the Reconstruction Finance Corporation in rushing $20,000,000 to the aid of the Hibernia Bank and Trust Company, of New Orleans, today had halted at million dollar run on the bank and eased an impending threat to numerous Louisiana banking institutions. The R. F. C. last night provided the huge sum after Governor O. K. Allen Saturday had proclaimed a legal holiday closing all banks and businesses in the state. Banks thruout Louisiana reopened today and officials reported that business had resumed as usual without a sign of panic by depositors.
Click image to open full size in new tab
FISH IS ACCUSED OF STARTING RUN AT NEW ORLEANS Banker Recalls Criticism in Connection With C. New Orleans Banks Closed. New Orleans, Feb. resentative Hamilton Fish was charged today starting on the Hibernia Bank and Trust comhere by Rudolph Hecht, prespany ident, by recent of Hecht before the House banking committee in connection Reconstruction Finance corporation loans to the defunct Union Indemnity company of New Orleans. an exchange of telegrams, Mr Fish Bank and Trust company. He added that nothing had said flected that he and did wish to do Mr Hecht an injusthe banks in New Orleans in many other parts Louisiana were closed today response issued by Gov len the diploThere has been visible sign Hibernia bank Mr Hecht that Fish's had caused millions dollars York today. Mr Fish said had Hibernia bank nothing said reflected on stability nonsense for the peoOrleans to take my ticism Mr Hecht the credit bank," the New said. the House banking committee Thursday Fish said demand resignation of Mr Hecht from chairmanship the advisand demanded all Reconstruccorporation loans concerns that later failed. In telegram Mr Fish yester Mr said he did not recomcations loans from the Union Indemnity company.