The money situation still holds the centre of the stage in American business. Yet, although it seems each week as if something important were just about to happen, nothing really does.
On Oct. 1 many millions of dollars have to be paid out by New York banks in cashing bond coupons due on that date, and also dividend checks issued on stocks. Very often this sudden though temporary demand for funds by New York banks, coupled with the need of sending funds west to move the crops, creates a temporary money shortage on and just before Oct. 1. So it turned out...
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