AMERICAN BANKS
TWO FURTHER FAILURES. TOTAL NEARLY ONE THOUSAND. (United Press Association.) (By Electric Telegraph—Copyright.) NEW YORK, December 22. There were two further important bank failures to-day—the City National and the Bank of Miami, the liabilities totalling 7,555,000d01. They shut their doors after heavy withdrawals* The Bankers’ Trust Company (Philadelphia), with liabilities totalling 65,401,000d01, has placed in the hands of the State hank officials a statement that the bank would probably continue after reorganisation. . It is estimated that the bank, failures will total at least 1000 by' the end of the yeat, representing the largest closings for a- long time. ■While it is generally admitted that adverse business conditions are responsible, it is felt that the United States had too many banks during the boom period, and that the situation will improve with culling.
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Otago Daily Times, Issue 21217, 24 December 1930, Page 9
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134AMERICAN BANKS Otago Daily Times, Issue 21217, 24 December 1930, Page 9
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