Declaring Saturday, December 31, 1949, A Special Bank Holiday

MALACAÑANG
Manila

BY THE PRESIDENT OF THE PHILIPPINES

Proclamation No. 161

DECLARING SATURDAY, DECEMBER 31, 1949, A SPECIAL BANK HOLIDAY

WHEREAS, a petition has been received from the Bankers Association of the Philippines requesting that the thirty-first day of December nineteen hundred and forty-nine be declared a bank holiday so as to enable the banks to continue without interruption the heavy work incident to the closing of their accounts at the end of the year; and

WHEREAS, the thirtieth day of December, nineteen hundred and forty-nine, and the first day of January, nineteen hundred and fifty, being public holidays, the thirty-first day of December, nineteen hundred and forty-nine, may be declared la special bank holiday to the great advantage of the banks and without any disadvantage to the public in general;

NOW, THEREFORE, I, Elipidio Quirino, President of the Philippines, by virtue of the authority vested in me bisection 30 of the Revised Administrative Code, do hereby proclaim Saturday, December thirty-first, nineteen hundred and forty-nine, as a special bank holiday.

In witness whereof, I...

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Summary of Proclamation No. 161

Declaring Saturday, December 31, 1949 as a Special Bank Holiday
- The Bankers Association of the Philippines petitioned to declare December 31, 1949 as a bank holiday to allow banks to complete year-end account closing work without interruption. (Section 30 of the Revised Administrative Code)
- December 30, 1949 and January 1, 1950 were already public holidays.
- Declaring December 31, 1949 as a special bank holiday would benefit banks without disadvantaging the general public.
- President Elpidio Quirino proclaimed Saturday, December 31, 1949 as a special bank holiday in the Philippines.