BANK FAILURES.
GREAT AMERICAN DISASTER, DUE TO WHEAT HOLDING. By Telegraph.—Press Assn.—Copyright. New York, Feb. 14. Advices from St. Paul state that a series of spectacular failures of thirtybanks came to a climax when the huge Scandinavian-American bank closed, involving millions of dollars. There is no estimate of the losses. Middle-west farmers were cafight last autumn with immense stocks of wheat which cost them more than the slumped prices would realise. Farmers have been hanging on for a better market, while the banks were unable to carry them and found it impossible to liquidate the farmers’ papers.—Aus.-N.Z. Cable Assn.
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Taranaki Daily News, 17 February 1921, Page 7
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99BANK FAILURES. Taranaki Daily News, 17 February 1921, Page 7
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