AMERICAN BANK CRASH.
Follows Wheat Moid-up. 1 .MILLIONS OF DOLLARS INVOLVED (By Electric Telegraph- Lopyi.ght.j U’er Press Association.) . (Received This Day, 8.90 a.m.) New February 14. Advices from St. Paul .state' that a series of spectacular failures of thirty banks came to a climax when the huge Scan dfnavi all-American Bank closed, involving millions of dollars. There'is no estimate of the losses. Middle-West farmers were caught last autumn with immense stocks of wheat, which have cost them more than the slumped prices would realise. The farmers have been hanging on for a better market, while the banks, unable to carry them, found it impossible to liquidate the farmers’ paper.
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Horowhenua Chronicle, 16 February 1921, Page 3
Word Count
109AMERICAN BANK CRASH. Horowhenua Chronicle, 16 February 1921, Page 3
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