AMERICAN FINANCE.

Rangitikei Advocate and Manawatu Argus, Volume XXII, Issue 8969, 7 November 1907, Page 2

AMERICAN FINANCE.

Press Association—Copyright. Now York, November G. The American Steel Trust has obtained a controlling interest in the Tennessee Coal, Iron, atud RailroadOompauy. The banks bold a large quantity of tbo company’s stock through collateral loans. The Steel and Trust Company, by .securing four millions sterling worth of stock at an outlay of £3,400,000, adds materially to the cash resources of the banks.

Many Hour mills in Minneapolis arc temporarily shut down owing to the crisis.

The ,steamer Krou Priuzassiu Cecelia lias landed seven million dollars of gold in New York. The sum of £751,000 of bar gold was secured in Loudon yesterday for New York, anil the Oceanic, leaving Southampton to-day, takes a million sterling of gold. A further improvement lias taken place in the Now York situation. Loudon, November G. The Daily Telegraph says that Pierpont Moragu’s asissfcauce to the Trust Company and the America and Lincoln Trust, was based, as regards the former, in the banding over to the Steel Trust of two-thirds of tiro Tennessee Goal and Iron Company's stock.