Logan Republican | 1903-04-14 | Page 3 | Large Loans Quickly Made

LARGE LOANS QUICKLY MADE. Great Sums Often Raised by Wall Street Banks at Hour's Notice. An Interesting question often asked ask-ed In Wall street concerns tho amount of cnpltnl thnt a largo bnnk could ralso at an hour's notice. Thnt Is, how much accommodation could a bank extend a customer unexpectedly unexpect-edly confronted with pressing need, or for tho purposo of flnnnclng a great deal. A banker of International Interna-tional experience Is nuthorlty for the statement that Wall street's facilities facili-ties In this regard aro superior to London's, In thnt a largo undertaking undertak-ing could bo financed hero with much greater dispatch than on tho other sldo. Said nn ofllcer of one of Wall street's most Important banks: "It Is no troublo nt nil, nowndays to ralso J5.000.000 or $6,000,000 within nn hour. I hnvo seen it done too often to think for a moment that it would tax seriously a largo bank's resources. Flvo times thnt sum, say $25,000,000, can bo rnlsed at twenty-four twenty-four hours' notice. It bns boon done. Of course, no ono bnnk could do It, but tho great Wall streot Institutions aro linked together In such n way as to provide almost unlimited resources re-sources for tho flnnnclng of nny safo dcnl. Tho lnrge bonks think llttlo of $1,000,000 or $2,000,000 loans theso days, whereas In former years they attracted general attention, for such largo amounts wero released only after considerable negotiations. Hut that has all changed now." New York Evening Post. '