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This newspaper page contains 3 articles. Subscribers can read the full text of each article.
Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Dec 11, 1921
Page
3
The piece notes Americans hold nearly a billion idle dollars likely to pour into foreign securities as exchange rates rise. It cites past Civil War era shifts when Americans sold cheap dollars for rail and industrial stocks while foreign buyers later repatriated $2 billion in holdings.
Senate finance committee approved a funding bill to matur e $1 billion in foreign debts by June 15 1947 with minimum 5 percent interest. Secretary Mellon and Democratic members endorsed the measure and said it would be reported to the Senate, with four of five commissioners requiring Senate confirmation. The plan keeps commissions chairs, limits debt cancellation, and mandates annual Treasury reports.
The French steamship Olympe bound for Genoa was floated at high water from the Delaware River off Pennsfield New Jersey after grounding yesterday. She returned to Philadelphia to dock for inspection and unload cargo by lighter before tugs moved her. In Russellville Arkansas a gas explosion in the South Anthracite Mining No 2 mine killed Herschel Bramlett and fatally injured John J Wosec and Huy Petray with two more seriously burned.
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