NEW YORK CITY
ADVANCE FROM BANKERS. [BY CABLE —PRESS ASSN. —COPYBIGHT.] NEW YORK, January 20. Wall Street bankers made a last minute agreement to advance New York City 12,500,000 dollars out of 32,500,000 dollars required to meet the immediate city obligations. The loan must bo repaid with 6 per cent, interest in eleven days. The City Treasury, it is believed, will be able to recover the remainder, but it is expected that unless the city is able to negotiate new’ loans'-in the meantime, New York will be virtually without funds after February 1.
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Greymouth Evening Star, 21 January 1932, Page 5
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93NEW YORK CITY Greymouth Evening Star, 21 January 1932, Page 5
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