WALL STREET CRISIS.

Rangitikei Advocate and Manawatu Argus, Volume XXII, Issue 8961, 29 October 1907, Page 2

WALL STREET CRISIS.

Press Association —Copyright. * New York. Oct 28. New York is importing 1} million pounds’ worth of gold from Europe to supply the deficiency in money. It has been decided that Clearing House certificates shall be valid for tho settlement of accounts between the Clearing House and the banks, on the banks depositing good securities. It is proposed to admit the Trust Companies to membership of the Clearing House, thus enabling them to participate in the advantages arming from the Insurance of the Clearing House certificates.

President Roosevelt has congratulated Air Cartelyou on tiie admirable way iu which he handled the crisis. He also applauded the wisdom and public spirit of the conservative and substantial business men, who have done invaluable service in checking the panic. The President has declared that American finance is sound and honest, despite occasional dishonest speculative enterprise.