AMERICAN FINANCES.
United Press Association— Copyright (Received 10.3 p.m., Nor. 5.) LONDON, Nov. 5. Tho Times’ New York correspondent reports that Mr IV. B. Ridgeley, United States Controller of Currency, suggests the Treasury should now utilise the wide interpretation always given to words of law, niamely, that the Treasury deposits in banks shall be secured by United States bonds or otherwise, and thus State and Municipal bonds, .which are legal investments for the savings banks of several States, might be used in addition to United States’ bonds as a sound basis of note circulation by the national banks to the full extent of their legal powers. (Received 10.20 p.m., Nov.' 5.) NEW YORK, Nov. 5.
Banks at New York advanced money subject- to certain conditions, bringing the Trust Companv of America and Lincoln Trust Company successfully through the ordeal. A strong tone prevailed in Wall Street at- the close, and prices were well above London levels.
Matters are more hopeful, and President Roosevelt- will not call an extra session of Congress. Including yesterday’s arrangements for the importation of half a million pounds’ worth of gold, tho total movement aggregates 6i millions.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/GIST19071106.2.35
Bibliographic details
Gisborne Times, Volume XXV, Issue 2230, 6 November 1907, Page 3
Word Count
191AMERICAN FINANCES. Gisborne Times, Volume XXV, Issue 2230, 6 November 1907, Page 3
Using This Item
The Gisborne Herald Company is the copyright owner for the Gisborne Times. 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 the Gisborne Herald Company. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in