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The Nome Nugget
Nome, Nome County, Alaska
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In Tokyo, a bankers' conference at Premier Tanaka's residence failed to resolve Japan's serious financial crisis. Sixteen banks announced suspension for three weeks amid severe runs, while the Bank of Japan advanced over $50 million, totaling more than $500 million.
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Tokyo, April 21. ()--It is understood here today that the conference of bankers called at Premier Tanaka's residence, failed to reach a decision as to the best way of meeting the serious Japanese financial situation. Sixteen banks today announced that they would be forced to suspend for three weeks, and all the remaining banks are attempting to meet the severe runs being made on them. The Bank of Japan has advanced more than fifty million dollars to the Tokyo institutions, bringing the total advances to over a half billion dollars.
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Foreign News Details
Primary Location
Tokyo, Japan
Event Date
April 21
Key Persons
Outcome
sixteen banks to suspend for three weeks; bank of japan advances exceed half billion dollars
Event Details
Conference of bankers at Premier Tanaka's residence failed to decide on addressing the serious Japanese financial situation. Severe runs on banks; sixteen announced suspension for three weeks; remaining banks attempting to meet demands. Bank of Japan advanced over fifty million dollars to Tokyo institutions, totaling over half billion dollars.