The War And Wall Street An Address Delivered Before the City Club of Rochester
The War And Wall Street An Address Delivered Before the City Club of Rochester
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In our eReader you can find the full English version of the book. Read The War And Wall Street An Address Delivered Before the City Club of Rochester Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book The War And Wall Street An Address Delivered Before the City Club of Rochester
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When the Stock Exchange closed its doors there was no longer a guide upon which to base values that had heretofore appeared in loans secured by collateral, and this introduced into our perplexities another difficulty. Here again the action of the Wall Street banks calls for the highest praise. With the market closed for an indefinite period these banks were forced to carry an immense burden of loans on Stock Exchange collateral ordinarily fluid beyond all other forms of collateral, but now froz...en solid. All their secondary reserves became, as it were, unmarketable investments, and "intrinsic val- ues" whatever that may mean, came by force of circumstances to take the place of market val- ues. It was a state of affairs quite beyond prece- dent, but the banks faced it as they faced all their other difficulties. So far as I am aware, not a single loan was pressed for payment, and where collateral seemed to demand re-enforcement, the request was couched in terms of suggestion, quite without peremptory demand, while rates of inter- est charged on these loans were gradually re- duced.
What to read after The War And Wall Street An Address Delivered Before the City Club of Rochester?
You can find similar books in the "Read Also" column, or choose other free books by William Clarkson Van Antwerp to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
When the Stock Exchange closed its doors there was no longer a guide upon which to base values that had heretofore appeared in loans secured by collateral, and this introduced into our perplexities another difficulty. Here again the action of the Wall Street banks calls for the highest praise. With the market closed for an indefinite period these banks were forced to carry an immense burden of loans on Stock Exchange collateral ordinarily fluid beyond all other forms of collateral, but now froz...en solid. All their secondary reserves became, as it were, unmarketable investments, and "intrinsic val- ues" whatever that may mean, came by force of circumstances to take the place of market val- ues. It was a state of affairs quite beyond prece- dent, but the banks faced it as they faced all their other difficulties. So far as I am aware, not a single loan was pressed for payment, and where collateral seemed to demand re-enforcement, the request was couched in terms of suggestion, quite without peremptory demand, while rates of inter- est charged on these loans were gradually re- duced.
What to read after The War And Wall Street An Address Delivered Before the City Club of Rochester?
You can find similar books in the "Read Also" column, or choose other free books by William Clarkson Van Antwerp to read onlineMoreLess
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