AMERICAN FINANCIAL CRISIS.

Press, Volume LXVI, Issue 20093, 24 November 1930, Page 11

AMERICAN FINANCIAL CRISIS.

119 BANKS CLOSE DOWN. fUHITBD PRESS ASSOCIATION —BT ELECTRIC TELEGRAm—COPYRIGHT.) (Received November 23rd, 5.5 p.m.) NEW YORK, November 22. The epidemic of bank closings has extended into nine central and southern States, with business puspended or ended outright in a total of 119 banking institutions. Predictions were made that many would reopen soon; but apparently the difficulties of a good number of the banks will not prove an ensy matter to settle immediately. The States hit by the closures are Arkansas, Kentucky, Missouri, Kaunas, Indiana, Illinois, North Carolina, Tennessee, and Minncsotn. ANOTHER PROBLEM. RAILWAYMEN CONSIDER UNEMPLOYMENT. (■Received November 23rd, 7.30 p.m.)

NEW YORK, November 22,

The railroad unions' "big (four brotherhoods" convention endorsed the basic principle of a »ix-tluy week, with no reduction in the wage rate, to alleviate unemployment among 375,000 of its 1,500,000 members.

No method of putting the principle into practice was adopted; but President Hoover will be asked to call a conference to eonsider the question.

IMPORTS FROM RUSSIA. EFFECTIVE BAN PROPOSED. (Received November 23rd, 7.30 p.m.) NEW YORK, November 22. The Washington correspondent of the New York "Herald-Tribune" says all Russian Soviet goods will have to face a ban in proposals drafted for the Treasury Department, under which, upon tho complaint of any citizen, an embargo would be placed against the shipment of such goods. Also, the production of a consular invoiee would be a condition for their entrance. As the United States has no consular representation in Russia, this would assure their exclusion.