FINANCIAL STRINGENCY IN AMERICA
TWENTY-FOUR BANKS CLOSED. (Rec. December 8, 1 a.m.) New York, December 7. Twenty-four baniks have closed to date. The State Bank Examiner do ;daned: .".Tlio situation, mvUl nob bti relieved 'until tho farmers begin to sell their grain. Tho banks will be able to meet their obligations ouly when tho farmers begiu to liquidate their debts. The constant drain upon the bank* created by tho farmers' refusal to sell is depleting the reserves, necessitating the closing."—Aus.-N.Z. Cable Assn.
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Bibliographic details
Dominion, Volume 14, Issue 63, 8 December 1920, Page 7
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82FINANCIAL STRINGENCY IN AMERICA Dominion, Volume 14, Issue 63, 8 December 1920, Page 7
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