AMERICAN BANKS FAIL
DUE TO WHEAT COLLAPSE.
(By Telegraph—Press Assn.—Copyright.) (Australian and N.Z. Cable Association.)
CHICAGO, November 19.
The collapse of the price of wheat and frozen credits resulted in the failure in six days of twenty-four banks in the North, ern Minneapolis Federal Reserve districts, twenty-one thereof were in the State of North Dakota, whose position is particularly unfortunate, since its wheat crop is small and of inferior quality, in comparison with the crops of neighbouring States. Western banking circles are considerably agitated over the multiple failures and fear is felt of the possibility of the larger central institutions, whereupon the collapsed banks depended, being unable to withstand the blow.
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Bibliographic details
Southland Times, Issue 19102, 21 November 1923, Page 5
Word Count
111AMERICAN BANKS FAIL Southland Times, Issue 19102, 21 November 1923, Page 5
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