AMERICAN BANK CRASHES
DEPOSITORS LEFT HIGH AND DRY.
STATE GOVERNMENT HELP.
By Telegraph—Press Assn.—Copyright. ’ New York, Dec. 14.
The closing of 60 branches of the Bank of the United States last week left 400,000 depositors “high and dry.” Many'are without means to get through Christmas. While there will be huge losses, the depositors are expected finally to get four-fifths of their money back, so the State Government worked out machinery to grant certificates to I all the depositors permitting them to borrow 50 per cent, of their balances from other banks, paying 5 per cent.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/TDN19301217.2.65
Bibliographic details
Taranaki Daily News, 17 December 1930, Page 7
Word Count
95AMERICAN BANK CRASHES Taranaki Daily News, 17 December 1930, Page 7
Using This Item
Stuff Ltd is the copyright owner for the Taranaki Daily News. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.