Show EXPLANATION FROM LONDON Big ig Bank Had loaned Huge Sum to American Magnate With Union Pacific as Security London March 28 The financial I expert of the Daily Dall Mail has hus writ written I ten a story of or the recent financial II crisis which he says sas is accepted I in reliable quarters quarter One of our big banks the time ivri writer writer It ter SIR says had lent a huge sum to toone toone one emma of the American can magnates the j I security being mainly Union Pa Pp I cities The bank hank decided this loan oan should be repaid but on meeting with refusal it resolved l to liqUidate date the securities by b selling the Union Pacific shares In Its pos possession possession possession session An attempt to get rid of or them in large arg blocks block on out the other side of or the Atlantic by private ne no noC 0 C failed and consequently a very YeT laige quantity was put pu upon the market Those knowing these cirt clr formed the natural conclusion that trouble would ensue and amI sold other securities ties The resultant fall in prices and the allaround collapse caused many man difficulties among stock sto I fX ex exchange x change firms including one of the highest standing In this case however the time account was taken over Oer by a big house bouse with the assistance of all that is most powerful in finance |