Roosevelt seeks blanket bank power to protect deposits
President Roosevelt asked Congress in a special session to grant him blanket authority over banks to protect depositors. The plan would amend the Federal Reserve Act to provide more currency, while avoiding adding to the government's unsecured debt. He also urged reopening sound banks as the first objective and proposed steps to give the executive branch emergency powers.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve Act
Roosevelt
Congress
Executive Branch
President calls Congress to reopen all sound banks
The president urges immediate legislation to grant executive branch control over banks for depositor protection and to end the strangulation of banking facilities, signaling a new relationship between banks and the people.
MENTIONED IN THIS ARTICLE
Congress
Government control over banks aims to protect depositors
A brief message outlines authority to open banks and reopen others swiftly, with powers to reorganize and provide treatment. The urgent program was urged as a top priority in a short 500 word communication, noted as one of the briefest on a major matter.
Roosevelt asks rapid banking reopening and control powers
Washington March 9 President Roosevelt outlines for Congress the need to reopen sound banks after the March 3 banking halt and to grant executive power to open or reorganize banks. He also seeks amendments to the Federal Reserve Act to provide secure currency without increasing national debt.
Ohio Weather Forecast Sees Fair Night and Colder Friday
Ohio forecast calls for generally fair conditions tonight with a likely dip in temperatures and colder weather expected Friday. No precipitation expected.
MENTIONED IN THIS ARTICLE
Ohio
Japanese war planes strike near Great Wall as Chinese flee
Peiping dispatches report Japanese fighting planes harry the routed Chinese Army south of the Great Wall. Foreign colonies in Peiping and Tientsin grow anxious as evacuation of Americans and other foreigners from both cities is contemplated.
MENTIONED IN THIS ARTICLE
Peiping
Great Wall
Tientsin
Zangara Pleads Guilty in Cermak Slaying Trial
Giuseppi Zangara, a small-time bricklayer, pleaded guilty to first degree murder for wounding Mayor Anton J. Cermak in the Chicago assassination attempt. He was placed on trial in Dade County Circuit Court in Miami after the plea.
MENTIONED IN THIS ARTICLE
Zangara
Miami
Fla
Giuseppi Gangara
Anton J. Cermak
Chicago
Roosevelt
Dade County
Governor White's panel backs state liquor board in Ohio
The advisory commission on liquor control urged the Ohio legislature to enact a law creating a state liquor control commission. The report to Governor White calls for an appointed body to oversee liquor affairs in Columbus and across the state.
MENTIONED IN THIS ARTICLE
Liquor Control Commission
Ohio
Columbus
White
Advisory Commission On Liquor Control
Banks Will Release Funds for Ohio Payrolls
Senator Robert J. Bulkley of Cleveland announced that Treasury Secretary Woodin assured orders will be sent promptly to enable New York banks to release money for Ohio industrial payrolls.
MENTIONED IN THIS ARTICLE
Ohio
Washington
Robert J. Bulkley
Cleveland
Treasury
Woodin
New York
Unemployment Insurance Bill Favored by Ohio House Panel
The insurance committee of the Ohio House recommended passage of the Keifer Bill for a state unemployment insurance system. The panel voted 10 to 1 in favor, with the law to take effect January 1, 1935.
MENTIONED IN THIS ARTICLE
Columbus. C
Ohio
Insurance Committee
House of Representatives
Rainey Elected Speaker of House for 73rd Congress
Washington March 9 Rep Henry T Rainey Democrat HL was elected speaker of the house for the 73rd Congress. His selection was a formal ratification of the Democratic caucus nomination of the veteran Liberal legislator as party candidate.
MENTIONED IN THIS ARTICLE
Washington
Henry T. Rainey
Rainey
Colburn Heads Memorial Day Committee
George Colburn was re elected chairman of the Memorial Day Association at the annual meeting in city hall. J G Schrock was re elected secretary and Dan B Symons was re elected treasurer. The Speaker Committee includes Mayor W H VanOster, Symons and James Howlett. The Memorial Day group sets a May 10 meeting to plan school child participation.
MENTIONED IN THIS ARTICLE
George Colburn
Memorial Day Association
City Hall
J. G. Schrock
Dan B. Symons
W. H VanOster
Symons
James Howlett
Alfred Bates
O. W. Long
Harry Forbes
Howard van Ausdale
Colburn
VanOster
R. C. Maston
President Roosevelt Confers on Emergency Banking Legislation
President Roosevelt reports he has conferred with Senate and House leaders on a carefully prepared emergency banking measure. He says it will immediately relieve the situation and start nationwide banking operations. He adds there is prospect of immediate passage on introduction and expresses gratification.
MENTIONED IN THIS ARTICLE
Washington
Mar
Roosevelt
Congress
Senate
Thouse
Currency Craze All Nonsense Says Babson
Babson urges calm over bank runs claiming ample currency and reserves. He says Detroit cash panic spread nationwide and depositor withdrawals rose without redeposits. He urges people to return currency to banks to boost business.
MENTIONED IN THIS ARTICLE
Babson
Babson Park
Florida
Detroit
Roger W. Babson
Work Planning Commission Formed for Bucyrus Relief Projects
Bucyrus Ohio March 9 a work planning commission created by the city council will control all labor projects under the relief system. The group includes the mayor school board president two council members and three citizens and will survey needs estimate costs and report to the council.
MENTIONED IN THIS ARTICLE
Bucyrus, CO
Bucyrus City
Organizing Opposition to Harter Bill in Legislature
Local Republicans and opponents organize against the Harter Bill which would redraw districts by removing Lorain and Medina from the Fourteenth and joining with western Cuyahoga. Lorain and Medina rural interests clash with Cleveland area, prompting planned floor fight if the bill reaches the Senate.
MENTIONED IN THIS ARTICLE
Harter
House Committee On Federal Relations
Lorain
House
Senate
Frank Stetson
Hearing Set on Injunction Suits Delays Lake Road Work
A final hearing on injunction suits blocking Lake Road west of Lorain is set for 1 p m Monday before Judge W B Thompson. Plaintiffs include Lakelands Corporation Beaver Park Company and the state highway department. Temporary injunctions remain in force with a decision possible to dismiss or make them permanent. construction hopes to proceed with better weather. The highway department plans to reroute the road at Beaver Creek unless restrained.
MENTIONED IN THIS ARTICLE
Lake Road
Lorain
W. B. Thompson
Lakelands Corporation
Beaver Park Company
State Highway Department
Highway Department
Beaver Creek
Bank official commits suicide in Ohio sanitarium
Albert Gruelich a 43 year old bookkeeper at the First National Bank and Trust Company of Hamilton hanged himself in a sanitarium at Oxford on Wednesday. He suffered from a nervous disorder.
MENTIONED IN THIS ARTICLE
Oxford, O
Albert Gruelich
First National Bank & Trust Company of
Hamilton
Forward March, America: A War Against Fear and Uncertainty
A wartime address declares a national battle against fear and economic uncertainty. It urges employment, faith, and renewed heritage, calling Americans to rally behind leadership and move forward with courage and resolve. The speech invokes historic figures and trials to inspire unity and perseverance.
Money Factory Working At Top Speed
Washington reports the Government’s money factory operating at full speed turning out hundreds of millions in new Federal Reserve notes. Three shifts of engravers and workers fill the Bureau of Engraving and Printing around the clock, with strict counting and vault storage awaiting distribution.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Roosevelt
Bureau of Engraving and Printing
United States
Federal Reserve Banks
Wave of Buying Anticipated by Leaders
Washington March 9 Roosevelt seeks emergency currency inflation plan to reopen banks nationwide. He will present to Congress at noon, aiming to inject up to 3 billion dollars in new Federal Reserve notes if needed, with up to 11 billion in government bonds as a basis. Congressional leaders pledged swift passage, predicting approval before midnight.
MENTIONED IN THIS ARTICLE
Washington
Roosevelt
Congress
Federal Reserve
Roosevelt outlines emergency bank legislation plan
Washington March 9. A digest outlines proposed emergency bank measures by President Roosevelt. Key points include reenacting section 5B of the trading with the enemy act, authorizing control over gold reserves and banks, and enabling Federal Reserve loans and note issues backed by U S obligations or corporate securities.
Ohio Devastated by Terrific Wind and Rain Storm
A violent gale swept across Ohio causing extensive property damage estimated in the thousands. Winds up to 50 mph unroofed buildings, toppled small structures, broke power lines, halted air traffic, and caused street flooding and icy highways. notable damage in Cleveland Bellefontaine Sandusky Erie County and major cities reported building damage.
MENTIONED IN THIS ARTICLE
United Press
Ohio
United States Weather Bureau
Cleveland
Bellefontaine
Logan County
Sandusky
Erie County
Columbus
Dayton
Cincinnati
Federal Reserve Expands Gold Hoarder Lists
The Federal Reserve Board expanded orders to Federal Reserve Banks to compile lists of gold hoarders and large withdrawals made since last February 1. The action aims to include withdrawals during the past two years, with banks instructed to assemble the data.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve Board
Federal Reserve Banks
Reserve System
Roosevelt press on with emergency currency bill
Congress met in extraordinary session at noon to create millions of dollars in new currency to enable banks to reopen. The measure marks the start of Roosevelt's counter-attack on recession mood after days of urgent conferences.
MENTIONED IN THIS ARTICLE
Washington
Congress
Roosevelt
Banking legislation awaits action by Congress
Legislation drafted to carry out Roosevelt plan waits for rapid congressional action. It calls for continuation of the gold embargo ratification of all power seized by the President full control over banks to protect depositors and creditors prompt reorganization of frozen banks amendment of the Federal Reserve Act to permit direct loans to corporations and individuals on government bonds broadest powers to Federal Reserve Banks to loan to member banks or sound collateral. The aim is a wide expansion of currency under a federal licensing and control system.
MENTIONED IN THIS ARTICLE
Washington
Roosevelt
United Press
The
Treasury
United States
Ond Sound
Federal Reserve Act
Federal Reserve Banks
Federal Reserve
Federal Reserve Bank
Congress
Roosevelt Bank Bill Aims for Quick Senate Action
Senate leaders planned to stay until midnight as needed to enact the Roosevelt Bank Bill. House leaders vowed prompt action as soon as the House is organized. The measure would permit wholly solvent banks to reopen tomorrow morning.
MENTIONED IN THIS ARTICLE
Senate
House
Cleveland Bankers Favor Scrip Plan
Cleveland bankers renewed efforts to obtain Federal approval for issuing Cleveland Clearing House certificates. They argued that payroll funds were hindered by a bar on scrip plans, noting adequate currency at the Federal Reserve Bank but difficulty delivering cash to banks lacking discountable commercial paper.
MENTIONED IN THIS ARTICLE
Cleveland
Cleveland Federal Reserve Bank
Ohio
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