TOTTERING COUNTRY BANKS.
WALL STREET TO RE-CUE. b _ s MILLIONAIRES FIND CASH. ?' (Received 1 p.m.) t WASHINGTON, February 13. 1 The Government, with the aid of " Morgan's and other Wall Street firms, is creating a fund of £3,000,000 to save * the banking situation amongst the farm- £ ing communities in the. Central and f Western States. Forty country banks A have been suspended during the year. President Coolidge fears tho psycholo- : logical effect on the whole Western country, so has appealed to Mr. Pier- ] pont Morgan, who contributed person- J ally £100,000 to restore confidence and help the tottering institutions". So serious is the situation that the I' Federal Reserve Bank received literally j thousands of letters from country bankers appealing for help.— (A. and N.Z.)
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Bibliographic details
Auckland Star, Volume LV, Issue 38, 14 February 1924, Page 5
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125TOTTERING COUNTRY BANKS. Auckland Star, Volume LV, Issue 38, 14 February 1924, Page 5
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