THE FINANCIAL DEPRESSION.
ALL ROUND DECLINE IN STOCKS. RISE IN BANK RATE. Received November 6, 8.7 a.m. LONDON," November 5. Consols are quoted at £Bl 10s. An all-round decline has taken place in stocks, especially Americans. The rise in the bank rate of discount is due to the anticipation of extensive withdrawals from America. The rise was made earlier than was expected because the issue of clearing-house certificates had not reassured the American public. Gold is being hurried across the Atlantic. Four and a half millions has been withdrawn from the Bank of England and the money marktt her:; within a few days. A further rise in the bank rate is expected if the money famine continues. RANK OF FRANCE TO THE RESCUE. Received November 6, 8.33 a.m. PARIS, November 6. The Bank of France promptly responded to the Bank of England, lending seventy-five million francs in gold. HOW TRUSTS ARE RUN. Received November 6, 9 a.m. NEW YORK, November 5. Mr Pierpont Morgan discovered that twenty directors of the Trust Company of America and the Lincoln Trust had not deposited a penny of their own money with those institutions, and insisted on remedial measures being taken before ["guaranteeing assistance.
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Wairarapa Age, Volume XXX, Issue 8874, 7 November 1907, Page 5
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200THE FINANCIAL DEPRESSION. Wairarapa Age, Volume XXX, Issue 8874, 7 November 1907, Page 5
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