THE MONEY CRISIS.

Taranaki Daily News, Volume L, Issue 61, 7 November 1907, Page 3

THE MONEY CRISIS.

Pari*. November 5. The Bank of France promptly responded to the appeal of the Bank nf England and lent 7J,O0".0O0 franc, ( ,t:t,!i3,iXM) in go!.I. Nei. York. November 5.

.Mr Pk'rpont Morgan di-covered that twenty of the dire-tors of the Trust Company of America and the Lincoln Trust li-id not d- po-itcd a penny of their own money iti these institutions. lie in-i-ted on remedial measures being taken U'fore guaranteeing bis assistance.

THE MILLIONAIRES' TRUSTS' OPPORTUNITY. Received .Nov. 8, 9.47 p.m. New York. Xovemlwr 8. The American Steel Tru-t has obtained a controlling interest-in the Tennessee Coal. Iron, and Railroad Company. Hanks sold a large quantity of the'company's stock through collateral loans, and the Steel Tru-t. by securing four millions -.erling worth of -lock at an outlay of £3.4nii.iM>. adds materially to the cash ie-ouree- ■<{ the banks.

IMMENSE IMKIRTATIOXS OF GOLD. Received Xov li. 11.48 p.m. London. November 6. The Daily Telegraph says Mr. Morgan's 3s-j«;anre to the Trust Company of Atnerb-a and the Lincoln Trust was based, as regards the former, in the handing over to the Steel Trust of twothirds of the Tennessee Coal and Iron Company's stock.

A further rise in the bank rate is possible owing to the general situation in America. New York. November 6. Many flour mills in Minneapolis are temporarily -hut down owing to the crisis. The steamer Krou Prinzessn Ceeilia landed seven million dollars in gold at New York. Bar gold valued at £751,000 was sewed in London yesterday for New York, and the Oceanic, leaving Southampton to-day, takes a million sterling in gold. A further improvement has taken place in the New Y'crk situation.