AMERICAN BANK FAILURES
FOLLOWING COLLAPSE IN WHEAT
PRICES
(By Electric Telegraph—Copyrignt.) (Australian and N.Z. Cable Association)
CHICAGO, Nov. 1W
The collapse of the price of wheat and frozen credits resulted in the failure in six days of 24 banks in the northern Minneaopolis Federal reserve districts, 2i. of which are in the State of North Dakota, whose position is particularly unfortunate since its wheat crop is small and of inferior quality in comparison with the crops of neighbouring states. Western banking circles are considerably agitated over the multiple failures, a'nd fear is felt of the possibility of larger central institutions upon which the collapsed banks depended being unable to withstand the blow.
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Bibliographic details
Nelson Evening Mail, Volume LVI, 21 November 1923, Page 3
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112AMERICAN BANK FAILURES Nelson Evening Mail, Volume LVI, 21 November 1923, Page 3
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