BANK FAILURE.
PLIGHT OF AMERICAN FARMERS. (Received February 16, 8.40 a.m.) NEW YORK, Feb. 14. Advices from St. Paul state' that a series of spectacular failures of 30 banks came to a climax When (She huge Scandi-navian-American'Bank closed, involving millions of dollars. There is no estimate of the losses. Middle west farmers were caught last autumn with immense stocks of wheat which cost them more than the slumped prices would realise. The farmers have been hanging on' for a better market, while the hanks were unable to carry them and found it impossible to liquidate the farmers' paper.—Reuter.
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Bibliographic details
Poverty Bay Herald, Volume XLVII, Issue 15447, 16 February 1921, Page 3
Word Count
98BANK FAILURE. Poverty Bay Herald, Volume XLVII, Issue 15447, 16 February 1921, Page 3
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