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Updated: May 11, 2025
On Monday, the 29th, only two unimportant country-bank failures were reported, and encouraging accounts were received from the West, although the suspension of a wool-manufacturing company in New York and an iron-manufacturing company in Massachusetts each employing some hundreds of men and the discharge of more than a thousand men from the locomotive works at Paterson, N.J., showed that the crisis had already affected labor.
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