THE FINANCIAL PANIC.

Taranaki Daily News, Volume L, Issue 61, 22 November 1907, Page 3

THE FINANCIAL PANIC.

~ New York, November 20. James Bail, a railway magnate, Speaking at Kansas City, admitted the justice of punishing any corporation offending against the trust laws. Referring to President Roosevelt, however, ke declared that he ought to stop bis denunciation and wholesale proscripwhich was destroying all credit •ad justice, besides injuring every busiBMa in America.

London, November 20. Beater's Santiago correspondent reports serious financial situation in Qriß owing to an unprecedented fall in tte rite of exchange. . • One bank has suspended payment. Three others have transferred them•efrts to the Bank of Chili. A POSSIBLE FRENCH MOVE. WB¥' Received Nov. 21, 9.20 p.m. Paris, November 21. It is persistently reported that the Bank of France is watching Mr. Cortelyou's measures for financial relief, and Bight co-operate with financial institutions in Paris to extend Mr. Cortelyou's assistance if impelled by the French Government in order to secure tariff concessions on French goods. London, November 21. The Times says in regard to the money market that it believes there is •one basis to report some such arrangement has been diplomatically discussed. AN UNTENABLE FINANCIAL POSITION. FBESH TAXATION URGENT. ' Received 21st, 9.41 p.m. London, November 21. The Times' Berlin correspondent says ft is becoming more and more evident that in view of the heavy deficit facing the Empire annually that fresh taxation Is urgent to terminate the untenable Jbupcial position.

< THE EFFECT OF THE TROUBLE. r ~" Received 21st, 9.41 p.m. r London, November 20. Tie Daily Mail reports that tremenBona numbers of aliens, ehiefly laborers, %bo lure been dismissed from American industries, are returning to Europe.