FRENZIED FINANCE
PANIC IN WALL cTBEET. VtU- ' — ~ Received 14, ll.od p.m.
New Yobk, March 14. A panic in Wall Street caused great " demoralisation. All active issues declined three to twelve points. Ihe panic was attributable to the banks filing in loans to meet heavy impeding disbursements. Mr Cortelyon, Secretary to tue Treasury, announced that thirty million dollars which the Treasury Department had deposited with the banks, would not be withdrawn at touched 8111-16. and closed 4-16 higher. ■ Loneos, March l-i. " The Times " says the panic was partly due to heavy liquidation m American shares, and fears that the advance in the bank rate would also result in a prolonged spell of dear money, active trade and high prices of accommodities. Other contributing causes were the many wild rumours of financial embarrassment on the Continent. ________
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Taranaki Daily News, Volume L, Issue 57, 15 March 1907, Page 3
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134FRENZIED FINANCE Taranaki Daily News, Volume L, Issue 57, 15 March 1907, Page 3
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