Word: dresdner
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Looking forward to the time when the banks must reopen, the Government announced a $71,000,000 loan to the Dresdner Bank to stave off a threatened run. The loan will be made by buying three-fourths of the bank's outstanding stock. At the same time it was definitely announced that whenever German banks do reopen, that other D bank in distress, the Danat, would reopen too, the Government guaranteeing depositors' funds. Correspondents realized that with the Reichsbank dictating to all German banks, with the Government owning two of the greatest remaining private banks, state capitalism...