FINANCIAL STRESS
NEW YORK CITY’S PLIGHT ARRANGEMENT WITH BANKS. NEW YORK, January 21. (Received Jan. 21, at 10 p.m.) New York City’s financial difficulties for 1932 at last appear to be over. The banks will purchase 100,000,000 dollars worth of special five-year corporation stock notes of the city and will provide an additional 150,000,000-dollar revolving fund for the purchase of city tax anticipation bills. The city will pay 6 per cent, interest, compared with 3 per cent, in recent years. lOWA BANKS CLOSED. CITY WITHOUT FACILITIES. NEW YORK, January 21. (Received Jan. 21, at 10 p.m.) Two banks in Chicago and two in lowa City closed to-day. All of the latter’s five banks are now shut, leaving the city without banking facilities.
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Bibliographic details
Otago Daily Times, Issue 21549, 22 January 1932, Page 7
Word Count
122FINANCIAL STRESS Otago Daily Times, Issue 21549, 22 January 1932, Page 7
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