March 15, 1933

The Vassar Bank in Arlington was one of the banks allowed to reopen after the bank holiday. The Miscellany News reported that bank officials stressed that no “unreasonable restrictions” would be placed on the reopened accounts. “All banks,” the newspaper said, “have been given general instructions that anyone who wishes to withdraw any very large sum must give his reasons, so that hoarding may be prevented.”

President MacCracken, the bank’s founder in 1924, remained on its board of directors as did another founding director, Professor of Religion Willam Bancroft Hill.