STRANDED AMERICANS.

Dominion, Volume 1, Issue 81, 30 December 1907, Page 5

STRANDED AMERICANS.

.-'The financial crisis in America-has reacted 111 an .extra,ordinary way. on American tourists in, Europe.. Many of them are in the paradoxical situation of having plenty of money and .ver. iraiug morn-or less pennilew. It 'is extromelyi. -.difficult', to ; cash any. :American cheqiie..or draft in: PaSris; while those drawn 011 .institutions known to be in financial difficulties, will; n'ot, )>e accepted at- any iprice. . Hundreds./of. Americans havp swarmed into Paris/ :from . all parts of.'.the Continent, the'fcajbrit'y,'oLthem-having'bnt little.ready money,.;.;bijt.. expecting to replenish, their funds;bj jashiiig drafts and, letters-of 'credit.: oii New'-'York institutions. > ' •,. ■ " To t,heir surprise, a.ll such'documents were fegardwl. with suspicion. No. doubts were expressed as; to the; solroncy .of .tho institutiens;named;, hut- nevertheless an".. advance was refused. ; /[To, make matters'worse, difßcnlty has-been experienced ;, in securing -funds from New York'. Tlio.scarcity of currency in America is. the reason- given,for thefdelay.in transferring money by cable.' ''Many 'of/ banks and trust companies which" contain funds belonging to' stranded Aniorican's hero have availed themselves of the.law..'which requires ninny .weeks': notice bofo'rp '.paying; doposits. Tho depositors consequently find themselves in a' very embarrassing predicament; ■ ■ - - Ono ,'Amqricnn business man went/into a backing-agency and produced a draft :on the Knickerbocker Trust Company, of New, York has ; suspended payment—for £500. Ho-begged'in vairi for enough'money to pay his,/passage .to New York. Ho wont away fjeplhring. that lie did not know how lie would , manage to pay' his hotel bill. , -Instances are rejated of American women 'whp, finding' themselves'' practically' penniless after purchasing many expensive gowns, aro either cancelling their purchases or rc-soll-ing 'their gowns at a. heavy , sacrifice in order to-, procure sufficient cash to "pay their fare Lhomai -- ;