DEPOSITORS’ LOSSES
OF HUGE DIMENSIONS. (United Press Association—By Elecfcrit Telegraph.—Copyright.) NEW YORK, December 14. The closing of sixty branches of the Bank of the United States last week has left four hundred thousand depositors “high and dry.” Many of these are without the means to get through the Christmas. There will be huge losses. The depositors are however,, expected finally to get four-fifths of their money back. So the New York State Government has worked out machinery to grant certificates t,p all of the depositors permitting them to borrow fifty per cent: on their balances from other banks, paying five per cent.
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Hokitika Guardian, 16 December 1930, Page 2
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102DEPOSITORS’ LOSSES Hokitika Guardian, 16 December 1930, Page 2
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