Business: Shut Michigan

Banks opening, business recovering: such was the scene last week in most parts of the U. S. Not so in Detroit. Detroit's two largest banks, representing 90% of its banking resources, instead of opening were firmly closed and sealed by Federal conservators. Two savings banks, one of them taking some commercial accounts, one Morris Plan bank, a commercial bank and one small state "Thrift Bank" were open under restrictions. A few other small institutions permitted withdrawals up to 5% to depositors who could prove they were in need. For practical purposes Detroit banking...

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