OCR Text |
Show LARGE LOANS QUICKLY MADE. Great 8ums Often Raised by Wall Street Banks at Hour's Notice. An Interesting question often asked ask-ed In Wall street concerns tho amount of capital that a largo bank could raise at an hour's notice Thnt is, how much accommodation could n bank oxtend a customer unexpectedly unexpect-edly confronted with pressing need, or for tho purposo of financing a great deal. A banker ot International Interna-tional oxpcrlcnco Is authority for tho statement that Wall street's facilities facili-ties In this regard nro superior to London's, In that a large undertaking undertak-ing could bo financed hero with much greater dispatch than on tho other sldo. Said an officer of one of Wall street's most Important banks: "It Is no troublo at all, nowadays to ralso $5,000,000 or $0,000,000 within an hour. I liavo seen It dono too often to think for a moment that It would tax seriously a largo bank's resources. Flvo times that sum, say ?25,000,000, can be rnlsed at twenty-four twenty-four hours' notice. It has been done. Of course, no ono bnnk could do It, but tho great Wall street Institutions aro linked together In such a way as to provldo almost unlimited resources re-sources for tho flnnnclng of any safo dr The largo banks think llttlo ot $1,000,000 or $2,000,000 loans theso days, whereas In former years thoy attracted general attention, for such largo amounts wcro released only after considerable negotiations. But that has all changed now." Now York Evening Post. |