Spectacular Failures.
IN MIDDLE WEST STATES CARRYING THE FARMERS. SERIES OF BANKING COLLAPSES. I By Gable.—PreM Association. - Copyright ] (Received 16, 8.40 a.m.) New’ York, Fen. 14. Advices from St. Paul state that a series of spectacular failures of thirty banks came to a climax when the huge Scandinavian-American bank closed, involving millions of dollars. There is no estimate ol the losses. Middle-west farmers were caught last autumn with immense stocks oi wheat, which cost them more than the slumpea prices would realise. Farmers have been hanging on tor a better market, while the banks have been unable to carry them, and found it impossible to liquidate the farmers’ paper.—(A. and N.Z.)
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Bibliographic details
Hawke's Bay Tribune, Volume XI, Issue 53, 16 February 1921, Page 5
Word Count
111Spectacular Failures. Hawke's Bay Tribune, Volume XI, Issue 53, 16 February 1921, Page 5
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