Abstract

The Week
October 24, 1907 issue

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The article presents economic updates of the U.S., as of October 24, 1907. The suspension on Tuesday of the Knickerbocker Trust Co., an institution with $63,000,000 deposits, following the difficulties of the Mercantile National Bank, with its $12,000,000, earlier in the week, cannot be characterized except as the outcome of prolonged indulgence in unsound banking. The seizure this week of 8,750,000 cigarettes manufactured by the Tobacco Trust is very drastic governmental action. Yet this policy, like so many of the other recent policies with teeth," is not based on a new law at all. It is, in fact, in the poor old Sherman law that authority for the seizure is found.

See Also:

UNITED States -- Economic conditions; BANKS & banking -- United States; MERCANTILE National Bank (Company); CIGARETTE industry; GOVERNMENT policy; UNITED States
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