THE WALL STREET CRISIS.

Rangitikei Advocate and Manawatu Argus, Volume XXII, Issue 8964, 5 November 1907, Page 2

THE WALL STREET CRISIS.

Press Association. —Copyright. Loudon, November 4. S The Times says that the money market outlook in the United States has not improved. Acute stringency has now established a premium on currency. At the same time there has been a sensational rise in the rate of exchanges on London, under which transfers are to be dealt in at 490 cents per £l. This, however, is regarded with satisfaction in London, since it indicates diminished power of tho United States to issue drafts on London, but it would bo more fitting to regard it as a striking rsymptom oi the weakness of the American position, and of severe pressure to obtain remittances.

The Lack of Coin. | Received November 5, 8. OS a.m. Now York, November 4. The Comptroller of New York City and the United States Steel Corporation, also many largo private firms, are paying employees by 01 The°hauks at St. Louis and Kansas City are circulating cheques and notes for small amounts as money.