Abstract

Finance
November 18, 1909 issue

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In 1905, a Stock Exchange speculation much like that of the past two months was raging, and New York bank reserves were repeatedly drawn down close to the minimum legal ratio to deposits. With the opening of the autumn season in 1909, an even bolder Stock Exchange speculation was under way. Its known demands on credit were prodigious, and, as in 1905, those demands became largest in September and October. The New York banks have managed, by one means or another, to get through the season, thus far, without a deficit in reserves. They have, however, not been able to avoid one confession, which has always, in the past, betokened a strain on local credit facilities.

See Also:

BANKS & banking -- United States; BANK deposits; STOCK exchanges; BANK reserves; DEFICIT financing; UNITED States
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