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Show BANKS NOW SELLING DRAFTS ON BERLIN The resumption of banking relations with Germany by American bankers and business men is forecasted by the announcements an-nouncements recently sent to local banks by their Xew York correspondents that drafts on Berlin may now be sold. From San Francisco comes the word that there already has been some speculation specu-lation on the coast in the German marks. H. M. Chamberlain, cashier of Walker, Brothers' bank, said yesterday that his institution has been notified that nt the present rate of exchange the value of the German mark is about 7.S cents. Speculation on the coast is said to be counting on rise in the price of marks. Their value before the war was 23 . 8 cents. The drafts are sold through the New York correspondents of German banks. The local banks can now sell the drafts direct on the German banks by arrangement with the American correspondent cor-respondent banks. |