Henderson Daily Dispatch

EIGHT-DAY BANKING HOLIDAY IN EFFECT ALL OVER MICHIGAN
Governor Comstock Acts With Dramatic Suddenness To Meet Emergency in Detroit
BANKS ARE NOT TO OPEN UNTIL FEB. 23
Proclamation Follows All-Night Conference in Detroit With Bank Leaders;
Stock Exchange There Forbidden From Trading In Bank Stocks
Detroit, Mich., Feb. 14.-(AP)-
With dramatic suddenness, Governor William A. Comstock early today proclaimed an eight-day banking holiday in Michigan at the conclusion of an (Continued on Page Five.)
EIGHT-DAY BANKING HOLIDAY IN EFFECT ALL OVER MICHIGAN

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all-night conference with bankers from all over the State, and with Federal and State banking officials.

The extraordinary holiday, unprecedented in Michigan, is effective today to continue through February 21. As a matter of fact the banks will not reopen until February 23, since February 22 is Washington's birthday and a legal holiday.

Governor Comstock's proclamation said the holiday was proclaimed "in view of the acute financial emergency now existing in the city of Detroit and throughout the state of Michigan."

Governor Comstock explained that he was summoned to Detroit from Lansing yesterday afternoon to a conference precipitated by an unforeseen and acute situation which had suddenly arisen in the affairs of one of our leading financial institutions, the Union Guardian Trust Company."