AMERICAN CITIES BANKRUPT
MOST NEED TEMPORARY HEIT.
GENERAL LEGISLATION PLANNED.
By Telegraph—Press Assn.-Copyright. Vancouver,. Sept. 23.
It was stated at a conference of mayors at Chicago that only two municipalities In the United States have a surplus— San Francisco and Rochester (Minnesota). Three thousand are in default totalling two billion dollars. The remedy is considered to be some sort of municipal bankruptcy act, cities and bondholders being given the right to compose their debts. The great majority are sound, but need temporary help.
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Taranaki Daily News, 26 September 1933, Page 7
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83AMERICAN CITIES BANKRUPT Taranaki Daily News, 26 September 1933, Page 7
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