Financial News.
(PER PRESS ASSOCIATION .) London, June 3. Tho Times denies the report that the banks havo been asked to guarantee another important firm which is said to be in a position similar to the Barings. Forty bankers met the directors of the Bank of England to discuss the fixing of discount rates and to take steps to prevent tho drain of gold from London in the summer. Itis probable that the bank rate of discount wtll be reduced to four per cent on Thursday. Six of the great joint stock banks have agreed ne. to discount kills except for their regular customers at less than 3£ per cent for th. present. The other banks which were represented at the meeting of the directors of tho Bank of England yesterday, have requested time to consider the action they will take with reference to discount rates.
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Bibliographic details
Bush Advocate, Volume VII, Issue 477, 4 June 1891, Page 3
Word Count
145Financial News. Bush Advocate, Volume VII, Issue 477, 4 June 1891, Page 3
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