FINANCES OF CHICAGO.
CITY WITHOUT FUNDS.
EMPLOYEES' WAGES UNPAID.
HOSPITALS MAY BE CLOSED.
BANKS REFUSE TO LEND. By T.elegraph—Press Association—Copyright. (Received January . 24, 5.5 p.m.) CHICAGO. Jan. 23. Details of the financial collapse of the city were disclosed to-day. The municipal employees, including school teachers, have six weeks' wages due to them totalling 11.276,000 dollars."
No funds are available, and therefore attempts by the city to sell short term securities, namely, tax anticipation warrants, totalling about 8,000.000 dollars, for 'immediate funds failed. No bank would underwrite them.
The hospitals, particularly those housing tubercular patients, the pa.rks, and the other most necessitous of public services aro in danger of being closed. For instance, 1200 nurses will probably leave shortly unless some provision is made for their pay.
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Bibliographic details
New Zealand Herald, Volume LXVII, Issue 20472, 25 January 1930, Page 11
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126FINANCES OF CHICAGO. New Zealand Herald, Volume LXVII, Issue 20472, 25 January 1930, Page 11
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