Abstract

Finance
September 8, 1910 issue

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The two incidents which may have profound effect on Stock markets in the New York are the bank statements and the Vermont election. The Vermont election is an event traditionally known as the first gun of an autumn political campaign. Three weeks ago, the surplus reserve of the New York banks reached an unusually high figure-equalled in magnitude, during the present generation, only in the years of liquidation and accumulation of idle bank resources, 1894, 1904, and 1908. It was imagined that this great reserve was acquired through drawing temporarily, to New York, of the cash which Western banks had been keeping at home to protect their own reserves.

See Also:

STOCK exchanges -- New York (N.Y.); BANKS & banking -- Accounting; ELECTIONS; POLITICAL campaigns; LIQUIDATION; VERMONT; NEW York (N.Y.); UNITED States
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