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THREE SAGINAW BANKS TO OPEN, MAKE CHANGE
Decision Expected to Turn Thousands of Payroll Dollars, Including Chevrolet Foundry Payroll Friday, Into Business Channels Here -Banks Abide by Comstock Order-Safety Deposit Departments to Open.
Saginaw's three banks through their clearing house association Wednesday decided to reopen immediately for the purpose of making change and cashing industrial and mercantile firms' payroll checks where the companies make cash deposits with the banks to cover the payrolls. This decision is expected to release thousands of dollars in payrolls, one of the largest of these being the Chevrolet Foundry payroll that will be paid Friday. James F. Miller, general manager of the Chevrolet plant, told The News Wednesday it was the hope of his company to issue pay checks Friday accordance with the established BANK ASSETS custom and provide for the contingency of having the checks cashed in the provisions of the clearing house association's order. NOT MINGLED Abide by Governor's Order. three Saginaw banks discussed the possibility permitting limited with2nd National's Funds Undrawals on bank deposits. both savings and commercial but. in the affected by Detroit Crisis, light of est Shorts Explains. modify the terms of the original holiday was abide by the terms of the first ALL OPERATIONS LOCAL decision by the goverAssets of the Second nor to permit bank officials in each to decide for Bank Trust company of Sagithemselves whether it is advisable naw been was all times for the benefit of its de- ceived until the clearing positors, said R Perry Shorts, house adjourned and expressions officers of each in statement issued three banks indicated that decision this matter would be Second National funds reserved at least temporarily. have been mingled The clearing house association shape manner those called reopening of safety any the other units of the deposit and Guardian Detroit Union Group for customers of Inc., which the Guardian each of the three Trust company of Detroit Governor's Stand Praised member, asserted. His statement from the clearing house officials called attention to the fact that banks had done in their and legally to meet the situation locally The governor's refusad to accede to the proposed releasing limited percentage bank deposits was construed here step in conformity with the given preference migh avail himself of withdraw up the limit and possibly penalize the depositor who did not seek withdraw his money create policy of preferment that would the policy all depositors alike, it said.
Rural Bankers Seek Advice. Rural banks Saginaw county were uncertain Wednesday what their policy will be relative to Governor Comstock's statement during the morning that the state take no action against banks that decide reopen. official word the goverstatement, reported by press associations, had reached the banks but it said at several that some of their officers were Lansing Wednesday endeavoring get more light on the situation that no action would be taken until they return. As far could be learned all the rural banks in the county had complied with the proclamation and closed. though in they acting limited way change bills, In most their officers said cashing any checks transacting any business at all.
DALLAS. Tex., Feb. gun and pistols, robbed five money and jewelry valued in Highland Park west district three them first forced the Negro cook to give them food.
