THE FINANCIAL SITUATION.

Rangitikei Advocate and Manawatu Argus, Volume XXII, Issue 8999, 12 November 1907, Page 2

THE FINANCIAL SITUATION.

Press Association—Copyright. I New Youk, Nov. 9. I The import of auother million sterling of gold is arranged by the New York banks. London, 9 th. Germany, Russia, Sweden, Norway, Denmark, Italy, Naples, Sicily have all raised their discount rates. Received November 11, 95.4 p.m. London, 'November 11. The New York correspondent of the Times states that while there is a momentary calm in New York and

currency troubles are relieved by he influx- of gold, tho industrial centres are not similarly eased. In many places outside the largest cities clearing house cheques are freely used. Paper money manufacturers are unable to get bills renewed and are practising rigid economies, dismissing employees and cancelling orders for work. The leading New York bankers profess satisfied financial at the outlook, but a restoration of equilibrium in the industrial centres will be slow.