BANK FAILURES IN AMERICA.
SLUMP IN WHEAT PRICES. Bt Telegraph—Association —Copyright. Reuter'* Telegrams. (Received February 16. 8.40 a.m.) NEW YORK, February 14 Advices from St Paul state that the aeries of spectacular failures ot thirty hanks came to a climax when the lni«t Scandinavian- American Bank closed, involving millions of dollars 1 bore is no estimate of the losses. I lie lYliclcilCWesfc farmers were caught last autumn with immense stocks of wheat, which rost them more than the slumped prices could realise. Hie farmers have been hanging on for p. l etter market, while the banks were unable to carry them, and found it impossible to liquidate the tanners’ paper.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/TS19210216.2.46
Bibliographic details
Star (Christchurch), Issue 16353, 16 February 1921, Page 7
Word Count
110BANK FAILURES IN AMERICA. Star (Christchurch), Issue 16353, 16 February 1921, Page 7
Using This Item
Star Media Company Ltd is the copyright owner for the Star (Christchurch). You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Star Media. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.