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REPORT IS PREPARED BROCK
Situation 1931 And During The Present Year Reviewed By Bank Commissioner
BY BROCK (State Bank Commissioner) (Written for Associated Press) NEW ORLEANS, April banksituation in Louisiana may be regarded with considerable satisfaction view of general conditions that prevailed for sometime, and compared with the banking situation throughout the country whole. During 1931 there only five small banks, close in into judicial liquidation. Since the beginning of 1932 other small banks the most their suspension practically one hundred per having by reorganization, merger refinancing. Changes among State Banks Louisiana since January 1932 are follows: Planters Bank Cheneyville, with deposits approximately suspended January 1932. Reopened January 1932, Branch the Commercial Bank Trust Company Alexandria, Parish Bank Trust Company Opelousas, with total deposits aproximately $390,000.00, suspended January 1932. Reorganized and opened March Parish Trust Savings Bank. Following close of the Parish Bank Trust Company of Opelousas on Saturday January 23, considerable proportions developed and continued throughout the day Planters Trust Savings Bank, with total deposits $850,000.00. bank demand uninterruptedduring the day but deemed for the proper protection all depositoors, reorganization be effected. This was accordIngly completed over the week end, after only on the Monday following, viz January 1932, the the Planters Trust Savings Bank Opelousas. Breaux Bridge Bank Trust Comof Breaux Bridge, with total deposits of approximately suspended January 1932, reorganized and reopened March 16th, under name of Farmers Merchants Bank. Bank of La., deposits of suepended February 1932, March 16th Bank of Abbeville & Trust Company. Bank Maurice of Maurice, La., with total deposits approximately suspended February 1932, reopened March branch Bank Abbeville Trust Company. Bank of Loreauville of Loreauville, with total deposits suspended February 1932, now of and process within The Citizens Franklinton, with deposits of $72,000.00, February 15, 1932, has been placed in liquidation, and the only year to forced into liquidation. In case, however, perfected whereby the are to receive fifty per of their funds without with fair eventually more. In addition to the above, one other which suspended in December 1931, has reopened by merger bank in the town. Also of the banks that closed in Novemwhich since been in process completed its plans for and its being tingent only upon its loan from the Finance Corporation. been reported that there were some thirty hundred bank failures the United States past number eight in Louisiana. the several reorganizations and reopenings of banks mentioned, found necessary in order to better conserve the all concerned, to provide that depositors funds be made available only time payment basis. Eight banks three branches have been reopened using this plan, and more than certificates deposit have been issued. This includes one during latter part 1931. In this manner some twenty thousand depositors having approximately deposit have been protected for the full one hundred per centum of their deposits. Records forced judicial liquidations of banks show average to depositors of from forty fifty centum. Therefore, through the method reorganization used the of eight banks listed resulted saving nearly million dollars to depositors. Finance Corporacontributed material aid to many banks throughout section. Louisiana and Mississippi bankers fortunate having local office this located this to facilitate for loans; officials that the and composed and business this who well know the values the held by are converwith local conditions. The National Corporation valued many our banks prior the inauguration the Finance Corporation.
