UNITED STATES BANKS
RESTORATION OF STABILITY Depositors in many of the small country banks in the United States which failed during the recent financial crisis are now being paid, according to Mr. A. Dodd, chairman of the Bloomfield Banking and Trust- Company, Incorporated, New Jersey, who reached Sydney last week on a holiday visit. This has been made possible, he says, by the action of the Federal Reserve Bank and reconstituted financial corporations in providing credit facilities lo the banks on unliquid assets. Since the scheme has been in operation the number of bank failures has been materially reduced.
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Bibliographic details
Poverty Bay Herald, Volume LIX, Issue 17946, 25 November 1932, Page 8
Word Count
99UNITED STATES BANKS Poverty Bay Herald, Volume LIX, Issue 17946, 25 November 1932, Page 8
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