Bank Closures
UNITED STATES FAILURES MUCH CAPITAL INVOLVED iEy Telegraph —Press Association Copy right I Received October 14, 9.50 p.m. NEW YORK, Oct. 14. The Kountz Company, one of the oldest Stock Exchange bond firms and the first dealing exclusively in bonds to close its doors, has been suspended. Insolvency has been caused “mainly by the cxtraordinaiy depreciation in the prices of high-grade bonds.” Morgantown, West Virginia, a town of 25,000 residents and the seat of a prominent university, is left without banking facilities with the closure of the second National Bank, the city’s third bank to close recently.
At Boston two local trust companies, with total deposits of over 7,300,000 dollars, closed “to conserve assets.”
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Bibliographic details
Wanganui Chronicle, Volume 74, Issue 244, 15 October 1931, Page 7
Word Count
116Bank Closures Wanganui Chronicle, Volume 74, Issue 244, 15 October 1931, Page 7
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