BANKS CLOSING.
FINANCE POSITION IN AMERICA; FARMERS' REFUSAL TO LIQUIDATE £•'!■ i By Telegraph.—Press AssocUtion, N Received Dee. 8, 12.40 a.m. ■ : -' New York, Deo. 7. Twenty-four hanks have closed to date. The State - bank examiner declares tlie situation will not be relieved until farmers begin to sell their grain, and the banks will be able to meet their obligations only when the farmers begin to liquidate their debt. The constant drain upon bapks, created by the farmers' refusal to sell, is depleting reserves and necessitating closing.—Aus.N.Z. Cable Assn.
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Taranaki Daily News, 8 December 1920, Page 5
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87BANKS CLOSING. Taranaki Daily News, 8 December 1920, Page 5
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