FALL OF THE MARK.
SERIOUS EFFECT ON GERMAN BANKING. B/ Telegraph—Press Association—Copyright Australian and N.Z. Cable Association. (Received May 11, 9.45 a.m.) BERLIN, May 10. Tlie fall of the mark had most serious effects on German banking. While the mark was 20.000 to the dollar customers’ deposits remained stable, but- with the fall there has been a run on deposits in order to buy foreign securities, or to purchase rowmaterial. especially in the textiles trade. The banks thus find that, the reservoirs from which the banking business is done are running dry, so that the banks are compelled to revise the whole system of granting credit, es- ■ pecially as the Government regulations for supporting the mark make it most difficult for the banks to borrow on tlieir own investments ill foreign cur- j
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Bibliographic details
Star (Christchurch), Issue 17038, 11 May 1923, Page 7
Word Count
133FALL OF THE MARK. Star (Christchurch), Issue 17038, 11 May 1923, Page 7
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