Word: flory
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Dates: during 1926-1926
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This was the situation in Iowa last week, reminiscent of the Flori da-Georgia bank troubles of the last summer (TIME, July 26). Six years ago there was similar unrest among U. S. banks. Considerable numbers of them failed, prelude to the 1920-21 business depression. Is this Iowa situation symptomatic of a national condition? The Iowa State Banking Department hastened to make up a bulletin: "The condition is purely local. It is simply a concerted action on the part of the banks to stop continued unwarranted withdrawals." After a few days some of the banks reopened to honor demands...