Optimism in finance money being accumulated
Optimistic notes on private hoarding easing as New York banks ship large sums west, boosting reserves. Analysts cite improved sentiment, more confident business and financial players, and anticipated revenue from securities as a broad economic uptrend develops amid government policy and global money flows.
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Banks to reveal reserves as reports due this week
New York bankers expect a Comptroller of the Currency call showing bank condition from a recent date. The move, already four of five annual calls completed, aims to reassure depositors, reveal interior banks' large cash reserves, and support a rapid resumption of currency payments nationwide.
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Berlin buoyancy lifts as discounts held steady in Europe
Amid mixed signals from London and Paris markets, European stock values rise modestly as expectations grow that the Bank of England may cut rates to six per cent next Thursday. Berlin and Paris show buoyant sessions with gains in foreign government securities and Russian and railway shares advancing. Social unrest looms in Indiana mining towns as socialist-led protests spark riot injuries and rail disruptions, while officials investigate wage-check tensions and potential mine closures in Greene County.
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America
Bank Could Resume Cash Payments as Treasury Sees Vindication
Treasury officials and bankers express confidence that cash payments will resume after December payrolls. Government actions to issue 137 million in new securities are cited as restoring market stability. Panama bonds and new currency circulation plans are described, with officials noting strong bank reserves and limited failures compared with 1888.
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Tobacco market sees record sales and cash payments in Richmond
Richmond Virginia reports weekly tobacco sales totaling over 500000 pounds, up 200000 from last year. average price about eight dollars per hundred. all sales paid in cash with no scrip or certificates. Demands remained strong though grades were not top quality.
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Banks Far Stronger Prosperity Seen Soon
New York December 1 Prince Antonia Penistowsit president of the French Finance Corporation says banks are stronger today than before the panic and calls for a central bank of issue as a remedy. He notes US needs a unified monetary framework and discusses impacts on industry and credit while remaining cautious on immediate reforms.
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Selling Diamonds Rebound Amid Financial Turmoil
New York reports many buyers returning to matden lane dealers such as Slemonds to reclaim diamonds and jewels bought before trouble. A wholesale house recently bought over 11 million dollars in diamonds and ornaments within a month, as wealthy owners surrender pieces. Diamonds are proving easily convertible to cash, aiding dealers faced with supply issues. Also noted is Swift A Companys beer sales in Washington for the week ending November 30 averaging 728 per barrel.
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Death in pistol duel ends divorce feud in West Virginia
William Mullins and Lee Williams, both entangled in Mullins divorce case, dueled in Cranberry West Virginia. Mullins was fatally shot with two bullets entering his heart as Williams lay dying after being wounded. Mullins aged fifty.
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In God We Trust Motto Criticized in Virginia Sermon
Specter Lo Tha Wiepcainfweu of Winchester urges caution at Christ Episcopal Church as he condemns President Hoover for removing In God We Trust from money. He argues the motto, though familiar to some, serves as a guiding benediction and should remain on currency.
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Wife Predicted His Death In Forest Tragedy Near Iron Bridge
Special to The Wasting so East Hagerstown Maryland reports James G Garrett aged twenty five was crushed by a falling tree while felling timber near Iron Bridge yesterday. He died before reaching his home. His wife had told a neighbor she feared he would be brought home dead, and she collapsed from the shock.
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Woman Leaps to Death at Hanover Hospital
Special to The Westington says Misa Minale Rudleill of Hanover Pennsylvania leaped from a fourth story window of the Union Protestant Infirmary early this morning. The coroner issued a suicide certificate while she was temporarily insane. She had entered for nervous trouble, was under ether for treatment, and had been set to go home last night but could not. A nurse noted she was worried about paying for care, and in a moment she jumped from the window. She was about thirty five and well connected.
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Marine Killed in Runaway Near Charlestown West Virginia
Sailor George Dunn of Charlestown West Virginia United States Marine Corps died after a runaway carriage spooked horses dragged him several blocks. He was injured last night and died this morning while home on furlough at about 21 years old.
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Memorial services honor Alexandria Elks dead audience of 1500
An audience of about 1500 attended Alexandria Lodge of Elks memorial services at the opera house. The hall was draped in purple and white with palms and ferns as officers and 26 lodge members sat on stage. Representative Morris Sheppard of Texas delivered the memorial address as the lodge paused to list the deceased brothers.
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New England Mills to Resume After Short Shutdowns
numerous New England textile and related mills announce phased returns to full or near full operation starting this week. mills in New Hampshire Maine Rhode Island and Vermont plan to restart machinery and extend hours, with several large plants resuming full schedules while others reduce totals temporarily.
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Capt G B Wise Near Death In Medical Relapse
CAPT G B WISE nephew of Henry A Wise former Virginia governor and cousin of John Wise, dies near death at Memorial Hospital after a relapse following initial recovery from a severe illness. Wise had a long political career in Virginia including Commonwealth attorney during Reconstruction and served in Congress. Closest friends and relatives remain unaware of his condition. In Radford Virginia, des 1 a Mrs Bina Covey married Merla Meredith of Cleveland Ohio in New Salem Church yesterday. ceremony performed by Ray J Showslter.
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Lumber Interests Suffer Amid Financial Storm
Southeastern lumber firms suspend operations or close as demand collapses. Virginia and Carolina mills group report no reopenings by tomorrow with prices at 1908 lows. Thousands face unemployment, rail earnings fall, and overall business activity declines.
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