Click image to open full size in new tab
Article Text
CONFIDENCE SHOWN IN NEARBY BANKS Virtually Every Institution in Metropolitan Area Gains in Deposits. Reassured by the display of confidence on the part of depositors yesterday. bank officials in nearby States eased the restrictions under which some of the institutions were operating and licensed several new ones to open today. Meanwhile the bankers themselves in institutions that have not been permitted to resume operations on an unrestricted schedule devoted their full time to plans that would permit them to get back on a 100 per cent basis. In many instances these included recrganization The Bank of Bowie was the only one in the vicinity of Washington which demonstrated its strength to such an extent in a single day that the 2 per cent withdrawal restriction on it was promptly lifted. Receiving Tellers Busy. Without exception the banks in the metropolitan area surrounding the Capital City reported business to be brisk at the receiving teller's window on the first day they have been permitted to open since the national banking holiday while the paying tellers found themselves for the most part with time hanging heavy on their hands. In addition to lifting the ban at Bowie, State Bank Commissioner John J Ghingher of Maryland permitted the Bank of Hampstead, Carroll County. to allow 10 per cent withdrawals today instead of 2 per cent He also licensed the Mercantile Savings Bank of Baltimore and the St Michaels Bank Talbot County, to reopen on a 2 per cent basis. These institutions were closed yesterday Another Maryland bank which will open for the first time today is the Forest Hill State Bank, Harford County. which will function on a 100 per cent basis. Reorganization plans of the Union Trust Co. of Baltimore and the Baltimore Trust Co were reported progressing satisfactorily These two large institutions. fami iar to most Maryland ers, are to be replaced by national banks. Record in Deposits. Officials of the 10 banks that have resumed operatic in Montgomery County reported today that deposits at the end of business yesterday aggregated nearly twice those of any previous day in their history The deposits made in one bank located in the metropolitan area totaled nearly $3,000,000, while those of another institution in the same district threatened the $2,000.000 mark R. Weir Waters, president of the Takoma Park Bank. said this morning that more than $2,700,000 was placed on deposit by patrons of that institution and that that figure far surpassed the total of withdrawals. The Silver Spring National Bank received $66,725.36 for deposit during the day, according to Ira C. Whitacre. cashier, who declared that the amount of deposits exceeded the total withdrawals by $45,725.36. Both Waters and Whitacre asserted that withdrawals were mainly on checks which were issued before or during the Maryland banking holiday and President Roosevelt's proclamation and had accumulated at the bank during the two periods. Some Gold Received. Regular depositors, they declared, showed no inclination to make withdrawals except for groceries. light, heat and other household necessities. Two other banks in the metropolitan district handled exceptionally large amounts of deposits. S. Walter Bogley, vice president of the Bank of Bethesda, and A. L. Votaw. cashier of the Citizen's Bank of Takoma Park, both said that deposits at their respective institutions were twice as much yesterday as they are normally. All four banks in the area immediately adjacent to the District of Columbia took in some gold in small amounts from their depositors. Bogley said that between $10,000 and $15,000 in gold was turned in at the Bank of Bethesda during the day. No heavy gold deposits were made by any one person, however. he declared. The Farmers Banking & Trust Co. of Rockville and the Bank of Damascus. the only members of the group of 10 county banks open for business that are operating on a restricted withdrawal basis, continued to grant its depositors 2 per cent withdrawals today. Awaits U. S. License. The Montgomery County National Bank at Rockville, the only bank in the county which is not open, was still awaiting today its license from the Federal Reserve Bank at Richmond to resume business. The bank had applied for a license to reopen on a 100 per cent withdrawal basis, according to the cashier. The banks of Prince Georges County were still taking deposits rapidly today, although business was much nearer normal than yesterday which witnessed a rush of depositors who threatened to swamp employes of several financial institutions in their eagerness to bank their money Another Prince Georges bank was opened to do business on a 100 per cent basis this morning- the Bank of Bowie was so to as it said brisk cashier, -and handle that according business it the office in arrived. to force deposits William was Luers unable Luers, he believed the restriction placed on
