06 Mar 1933
Page 1
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Newspaper
Evening Huronite
Location
Huron, South Dakota, United States of America
Date
Mar 06, 1933
Page
1
Local merchants, bankers, and leaders ended a long meeting by launching scrip as a convenient bank check form in three denominations. Scrip circulated to cover bank closures, redeemable April 1, with signing and attestation by Camden Rayburn. Banks remained open for deposits and change.
Washington announces a new 73rd Congress will convene Thursday at noon to address the banking crisis and reopen banks orderly. President Roosevelt charges lawmakers to pass emergency measures as the banking holiday nears its end, with major political maneuvering and plans for the new House and leadership.
Mayor Anton J Cermak of Chicago died at 6 55 AM in Jackson Memorial hospital Miami after wounds from Giuseppe Zangare in February He fought colitis pneumonia heart trouble and gangrene following the attack His death prompts a Dade county grand jury to reconvene to consider indictments against Zangare and the Chicago mourning coverage recalls Mayor Harrison 1893 in Chicago history
Fred eric A Tilton third assistant post master general said the postal savings system would continue to function as usual in the absence of instructions to the contrary. Statistics on operations in the last few days were not available. Tilton led postal savings during the Hoover administration and remains in office until his successor is appointed.
Washington dispatch reports General Farley, Roosevelt’s patronage chief, says new appointments will be slow to ensure efficient appointees. He lists four assistant postmasters general whose nominations to the Senate are expected Thursday: Joseph C. O'Mahoney Wyoming, William W. Howes South Dakota, Clinton B. Eilenberger Pennsylvania, Silliman Evans Texas.
In Berlin on March 6 the National Socialist party won a decisive majority in the national and Prussian elections. Hitler’s Nazis secured 288 Reichstag seats, with nationalist allies at 52, out of 89.29 million votes cast. The outcome signals a probable five year adjournment of parliament as the government reorganizes to suppress communists and democrats.
Pierre March reports state highway department says U S Highway 14 between Midland and Rapid City blocked by heavy snow. Three plows are working and the road is expected to open by night. Most other main routes in the state are open or expected to be.
Partly cloudy tonight and Tuesday with some cooling. South Dakota forecast shows generally fair skies and slightly colder conditions, with the extreme west warmer tonight and Tuesday, and a milder west portion.
Athens Greece March 6 Gen Ehestivas head of the revolution is said to have established a stable government after the turmoil. Escalating events in Greece lead to a new military backed administration aiming to restore order.
Fragmentary OCR hints a student at the University of Pennsylvania, Levy, a senior, facing money troubles. A dated, disjointed missive from a Cleveland father urged rush of cash, with scattered quotes about money and urgency.
Roosevelt blames heavy gold withdrawals and foreign exchange speculation for a drastic banking proclamation. The text cites emergency measures under the 1917 act to restrict foreign exchange and hoarding of gold or silver, with authority to regulate exports and currency movements. Continued discussion appears on page 6.
In Washington today at least three were injured and two arrested as police clashed with demonstrators near the District building during a clash over parade rights and racial equality. The incident occurred as President Roosevelt told District of Columbia commissioners he would not object to a parade that did not disrupt traffic. Demonstrators carried banners seeking higher relief payments and equal treatment, with whites and blacks participating.
In Harrisburg on March 6 a note says the South Dakota Retail Lumber Dealers association postpones its directors meeting planned for Mitchell next Sunday. If held, it will be rescheduled to a later date.
Former President Herbert Hoover called for full backing of Franklin D. Roosevelt's banking and economic crisis plan. Hoover emphasized the proclamation should receive citizen support and cooperation, a brief note released by his secretary Lawrence Richey.
Secretary Woodin announced six banking functions allowed during the banking holiday. Changes limit gold payments, allow safety deposit access, and permit bank change and cashing checks drawn on the U S treasury with nongold currency. Banks may return deposits and accept cash or other payment forms to settle obligations. Scrip plans remain undecided to enable inter-community exchange. Goal is to meet payrolls and keep food supplies flowing.
Armour and company will keep packing plant in Huron operating and will continue purchasing livestock paid by check. A. E. Danielson, manager, announced after a telegram from T. G. Lee, Chicago president, noting Armour’s strong financial position and government bonds totaling 38 million dollars in resources. The Chicago Livestock Exchange will close at 2 p.m. Tuesday for an emergency, with private arrangements expected to enable continued supplies for eastern interests.
President Roosevelt moves to steady finances with wartime authority as governors back a rapid program. Clearing house scrip and cash withdrawals are planned to keep payrolls moving, with railroads allowed extra payment time and a four day holiday declared. Congress to be asked for emergency laws to legalize scrip, segregate deposits, and sustain checking accounts while gold exports are halted.
Pierre March 6 Governor Berry gave no statement on the South Dakota banking condition saying he has received no information on the national banking holiday beyond press and radio dispatches. State housing superintendent McCullough expects to confer with the governor but no information was available on whether a request would be made to conduct banking operations under the president's modified plan.
Senate Democrats in caucus today organized for the new congress with Joseph T. Robinson of Arkansas chosen as floor leader and John B Kendrick of Wyoming named assistant leader, joined by J. Hamilton Lewis of Illinois in the leadership group.
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