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AWAIT ONLY OF PRESIDENT AND BANK DEPARTMENT
INSTITUTIONS PREPARED TO HANDLE BUSINESS, OFFICERS SAY.
Definite Instructions Expected Late Today; News Brings Cheer To Patrons,
Minneapolis, March 11 (UP) from all the Nicollet hotel this afternoon in liminary move to reopening institutions. that 800 bankers, members the Minnesota Bankers' association, would be in attendance.
Awaiting only proclamation by President Roosevelt and word from the Minneapolis Federal Reserve bank the state commissioner banking, the First National American State banks in Moorhead were ready today resume full business, without restrictions, Monday The First National bank has celved from the comptroller of the currency Washington, resume its business in Rusness, cashier, said today. However, the president's proclamation declaring the bank holiday an end, must first be issued. expected, Rusness said, that definite word to open without strictions would be received late day.
Expect Word Today. Theodore Gulickson, president of American State bank here, said had not received definite instructions from John Peyton, state of banks, but that notification similar to that expected the First National probably would received late today. was believed that definite word regarding the state bank was being withheld pending results of special meeting bieng held by the Minnesota Bankers association in Minneapolis this afternoon. Erickson, cashier of the American State bank, as well several other Clay county bankers, attending the meeting. are prepared to open withwhenever we receive authority do Mr. Rusness have made the to take care of any and all well other business." Mr. Gulickson made similar adding that bank first must receive from the of banks. Patrons Cheered. As this latest news began circulating today, Moorhead patrons the banks assumed more cheerful attitude. Secretary of the Treasury William Woodin had that only those banks that were in sound and known institution would be permitted to busiand that no bank would permission unless could main open without the prospect to close later Despite these restrictions, the two local banks made their ments today, thus creating confidence among the public in their vency. Runs on either bank were not pected in view of the fact that ficers had announced they would ready to take care of all The federal reserve system was rushing currency all membanks to be held for use essary.
