THE MONEY MARKET.
OLD FIRM SUSPENDS PAYMENT. (Received 8.10 a.m.) London, Juno 12. The Daily Mail announces that the James Watson Company, of the Glasgow Exchange, has suspended payment. The firm is fifty years old, and at one time practically controlled the iron market of the world. The difficulties were duo to fluctuations in Cleveland iron. OFFER OF EMERGENCY CURRENCY. HELPS THE SITUATION. (Received 1.5 p.m.) New York, June 12. Because of the existence of financial stringency Mr McAdoo, Secretary oP the Treasury, has offered to issue an emergency currency to the limit of the Government’s resources. Consequently, New York prices have soared during the afternoon. Bankers are more confident, and they are hopeful that Mr McAdoo’s offer will have the effect of releasing the money now withheld.
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Stratford Evening Post, Volume XXXVI, Issue 33, 13 June 1913, Page 6
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128THE MONEY MARKET. Stratford Evening Post, Volume XXXVI, Issue 33, 13 June 1913, Page 6
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