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MONTGOMERYCALM IN BANK SITUATION Officials of 11 Institutions in County Say Depositors Are Not Worried. Citizens of Montgomery County calmly accepted today the situation which has led to the temporary closing of banking institutions throughout the State of Maryland. Officials of the 11 banks located in that community declared at noon that the act of Gov. Albert c. Ritchie in proclaiming a three-day "bank holiday" to permit the enactment of protective legislation for both depositors and banking interests has occasioned no alarm among their depositors. Without exception the officials declared their own institutions to be in a sound financial condition, and said that no heavy withdrawals had been made on their banks. They indicated that the "unusually heavy w drawals" osing which led to the State-w. order had been made on the banks in Baltimore City. Numerous telephone calls were received the banks of the throughout by morning, but the the county of calls obwere made for the sole purpose taining information additional to that carried in the newspapers, they said. A few persons who had not learned of the three-day holiday in banking circles appeared at the institutions this morning, read the notice which had been on the closed doors to the the susuntil unpended effect posted that business institutions Wednesday had der the Governor's order and turned quietly away. Not Excitement Whatever. "There has been no excitement whatsoever," one banking official declared. "The people have read of situations similar to that in Maryland which led to the recent closing of the banks of Louisiana and Michigan and have gracefully accepted the announcement of the three-day holiday in this State." The principal embarrassment. it was learned, has been in the meeting of pay rolls. A number of firms were said to have been unable to pay their employes in cash and were forced to issue checks on their county banks, which cannot be cashed, of course, until after the holiday is suspended. Included in this group were county officials and county employes. who received their wages in check form this morning, but were unable to cash them at the county banks on which they were drawn. State Senator Robert G. Hilton. who is president of the Farmers Bank & Trust Co. of Rockville, said this morning: "I feel satisfied that the State Legislature will take up the matter when it reconvenes on and I have no promptly day evening, which doubt Mon- that will plan will be devised serious to prevent some any embarrassment State." any of the banks of the Business to Be Supplied. of the banks made arthis morning to rangements A number supply with business houses in their community change needed in their business. They also announced that business houses would be permitted to leave their money at the banks over the week-end for safekeeping. but that the money would not be accepted as regular deposits. The banks in Montgomery County closed by the Governor's order are the Citizens Bank of Takoma Park, Silver Spring National Bank, Farmers' Bank & Trust Co. of Rockville and its Kensington branch, Montgomery County National Bank of Rockville, First National Bank of Gaithersburg, First National Bank of Sandy Spring, Sandy Spring Savings Institution, Germantown Bank, Bank of Bethesda and the Damascus Bank. UVATTSVILE
