15 Mar 1933
Page 1
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Newspaper
Amarillo Daily News
Location
Amarillo, Texas, United States of America
Date
Mar 15, 1933
Page
1
President Roosevelt announced the era of fear had ended as banks reopened and resumed normal activity. Secretary Woodin reassured that banks failing to reopen immediately were not permanently closed, and conservators would put them in order before licensing. The banking system was restored to a government satisfactory basis.
Treasury style summary shows twelfth district bank reopenings with 129 total banks open yesterday 60 members 69 non members 19 cities across 7 states California Oregon Washington Idaho Utah Nevada Arizona total district banks 919 435 members 484 non members 12 cities with chain branches open and savings banks foreign branches and private banks included
The article details President orders to monitor Senate stock market probes with AG Cummings remarking on “dishonest” bankers. It describes bank conservators stepping in to stabilize institutions, deposits, and creditor payments while allowing reorganizations. Senate passes a bill to let Federal Reserve Banks lend to state banks and to support conservators, with eight banks admitted to the Fed system.
NEW YORK March 14 The great capital markets of the nation will be opened tomorrow with more than a thousand larger banks already operating today and thousands more to resume tomorrow. The New York Stock Exchange resumes normal business ending the first closing forced by an economic crisis since World War I. The Chicago Board of Trade and New York Cotton Exchange plan to follow on Thursday amid renewed investor optimism.
Oklahoma City March 14 Gov William H Murray said Secretary Ickes is weighing calling a conference of oil producing state governors on conservation and production regulation. Murray, unable to attend, would send a representative and noted Ickes is focused on California Oklahoma Texas and Kansas.
Grand champions announced at the Southwestern Exposition and Fat Stock Show in Fort Worth. Texas Hereford bull Beau Gwen, 50th, owned by Joe T. Davidson of Ozona, earned grand and junior honors, defeating senior champ Beau Baldwin owned by Ken Caryl Ranch. In Short Horn, Dreadnaught Parade from Mather Brothers of Mason City Ills. won grand, with Singleton's Stamp of Midlothian as junior champ.
Eighty six banks in the Eleventh Federal Reserve district reopen or prepare to reopen as Roosevelt’s plan guides financial centers. Forty two Fed members, including five Dallas banks, resumed operations with clearance to proceed. others under James Shaw oversight gain permission as reserve members resume. The district covers all of...
Dallas Texas March 14 summary shows bank reopenings in the Eleventh District with 42 member banks and 44 non members open. The total open stands at 86 with about 1 200 banks in the district including 500 members and 700 non members across 17 cities in five states Texas Oklahoma Louisiana New Mexico and Arizona.
Texas plus parts of Louisiana Oklahoma New Mexico and Arizona saw reopenings confined to ten cities in Texas except for three in Shreveport. Dallas Federal Reserve and six state banks joined with five other banks already open, totaling 77 by noon. Governor McKinney began issuing licenses to district members to reopen tomorrow as Shaw awaits permission for others. Normal business continued despite prior credit and check backlogs.
At the Herring Hotel gas producers and landowners unite to oppose a proposed two cent per thousand cubic feet tax on gas production. They condemn the substitute bill aimed at taxing only pipeline exports while exempting gas for gasoline and carbon black.
Amarillo banks resume operations today at 9 o clock after a two week break due to a moratorium. Authorities from Washington and Austin issued certificates of sound ness and local rules limit gold payments while preventing hoarding. Depositors may be asked to sign affidavits for unusually large withdrawals and checks from out of town banks cannot be cashed. Mayor Ross Rogers praised citizen cooperation as banks reopen.
Joseph W. Harriman former president and now chairman of Harriman National Bank and Trust Company was arrested in Manhattan and charged by federal warrant with causing false entries to be made in bank books to deceive the comptroller. The bank remained closed under conservatorship with Henry E. Cooper appointed.
The Texas House voted 110 to 25 to submit a constitutional amendment limiting the lower house to six members from any single county with populations under 600,000, and then one member for each extra 100,000 above that threshold.
A high spirited youth pours energy into a contest using a musical instrument he bought via a Want Ads classified. The piece encourages others to place inexpensive want ads if their desired instrument isn’t listed under Classification 33.
Resolutions favor rail rate adjustments for cattle producers and support legislation to quiet title on Spanish grant lands held by cattle raisers. A committee led by J. D. Jackson of Alpine drafted proposals amid the Texas and Southwestern Cattle Raisers Association annual meeting. Attendees included G. A. Ray Pettus H. L. Kokernot San Antonio A J Swenson Stamford R H Harris San Angelo Dayton Moses FE Spiller. James E B Ferguson urged a state sales tax.
In Long Beach California H V J Swain reports a jig-saw puzzle bought for three hours work proved too fragile after an earthquake. He began Friday at five but the mosaic fell apart each time. After three days he is finished.
A snow storm near blizzard strength struck Beaver City Oklahoma and spread from the Panhandle into Enid as a cold rain mixed with falling snow this afternoon. The system moved into the region, bringing heavy light accumulation and closing roads in parts of the area.
Amarillo and vicinity expect Wednesday fair. West Texas and New Mexico show fair conditions with warmer readings in the east. Frost is possible in south-central and southwest portions. temperatures yesterday ranged around 49 to 42 degrees with scattered gusts. Precipitation for the 24 hours ending yesterday at 6 P.M. was .09 inches.
Seventeen people died as a powerful tornado struck Tennessee and moved eastward causing widespread damage. Emergency crews scrambled to reach affected towns as warnings spread along the weather front. Authorities urged residents to stay clear of debris zones and follow official guidance.
A March tornado sweeping from the Mississippi River to the Cumberland region killed seventeen people across Tennessee and Kentucky. It struck Nashville, Harrogate, Kingsport and Pruden with extensive destruction to homes and coal camps. Emergency crews rushed aid while communications to mines failed and city areas lost power.
Governor Miriam A Ferguson asked the Senate to return the name of Larry Mills of Dallas for the State Board of Education after Mills declined the appointment. The Senate committee on governors appointments planned to meet to consider a list of candidates proposed by the governor amid some opposition to Mills confirmation.
The Internal Revenue Bureau extended the filing deadline from March 15 to March 31 1933 under treasury department orders. Taxpayers deferring filings must pay 6 percent annual interest on the first quarterly installment from March 15. Concerns over banking holidays and high office crowds prompted the extension with instructions to collectors of internal revenue and others.
Long Beach area quake relief efforts gain Red Cross backing through the Earthquake Rehabilitation committee headed by Charles Henderson. Congress contemplates about 5 million dollars in aid, with 10 percent of the damage estimate of 50 million to be appropriated.
President Roosevelt's 8.2 percent beer bill gains quick House passage 316 to 97 amid pro and anti Prohibition volleys. The measure tax five dollars per barrel and aims to raise 125 to 160 million annually, with states handling regulation and limited advertising allowed. Cullen defends the bill's urgency and revenue impact while noting exceptions for home use and noninclusion of wines.
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