AMERICAN FINANCIAL CRISIS.

Otago Witness, Issue 2811, 29 January 1908, Page 25

AMERICAN FINANCIAL CRISIS.

NEW YORK, January 21. The City of Hamilton Bank" (New YoTk), which suspended during the crisis, has reopened. The Currency Gommittee of the American Association of Bankers disapproves Senator Aldrich's Currency Bill, cabled on the 7th iust., and Representative Fowler's Bill, .cabled on the 9th, believing that both would tend to unsettle instead of improve the financial condition. The committee invites Congress to pass the bill recommended by the Bankers' Association. January 22. The capital State Bank of Idaho has been suspended. The deposits total a million dollars. January 23. Owing to an improvement in. the finances, Mr Cortelyou (Secretary of the Treasury) is gradually withdrawing the deposits of public money mad© with the public banks during the crisis. January 24. A plethora of money on Wall street caused "-call -rates to break to the extent of 13s 4d. - January 27. Owing to unfavourable rumours and the continuous drain on the bank's resources, with the prospect of heavy withdrawals to-day, the directors of the National Bank of North America, with 2,Q00,000d0l of capital, requested tihe Comptroller of Currency to- assume charge, with a view to ensure equal treatment to the depositors.