FINANCIAL CRISIS.
SLUMP IK WHEAT PRICES. Xi-iW YORK. February 14. Advices from St. Paul state, that a series of spectacular failures of 30 banks came to a climax when the huge .Scandi-navian-Americau bank closed, involving millions of dollars. There js no estimate available of the losses. Middle West farmers were caught last autumn with immense stocks of wheat which cost them more than the slumped prices coukl 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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Otago Witness, Issue 3494, 22 February 1921, Page 23
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93FINANCIAL CRISIS. Otago Witness, Issue 3494, 22 February 1921, Page 23
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