FINANCIAL OUTLOOK.
BANK RATE. ) ~ ■ ■ ■ ■ . : THIRD REDUCTION SINCE FIRST iOF' JANUARY.: jjt telegiupii—rnr.sa association—copymgux, London) January 23. The Bank rate of discount is at 4 pgr cent., a decrease of 1 per cent, on last quotation, ...: v '.,. . THE' UNITED 'STATES TREASURY. . WITHDRAWING DEPOSITS. ! ; ' Now York, ( 23. Owing to ; improvements in the finances, Mr. G. B. Cortelyou (Secretary to the United States Treasury),, is gradually withdrawing deposits of public monoy .made with public banks, during the crisis, . A CHANCED TONE. "PLETHORA OF MONEY"-' IN WALL ' ; ■ STREET. : ; (Rec. Jan. 24, 8.45 p.m.) New York, January 24. A plethora of money in Wall Streot caused call rates to break to 13s. 4d. A rate of 13s. 4-d. is equal to J of 1 per cent. This must bo a welcome change from the rate paid for .call money during the crisis in' Noveiubor, when brokers were scrambling for tho five million!-, that Mr. J. P. Morgan placed at the' disposal of Wall Street.; On that occasion >they paid up to 50 per cent, for the* money,. ana at one stage of , the crisis call moiiey was up to 125 per, cent.'. Tho position, with regard to the bank rate, is referred to in our 'Tinafiqe and Commerce" column.
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Dominion, Volume 1, Issue 104, 25 January 1908, Page 5
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204FINANCIAL OUTLOOK. Dominion, Volume 1, Issue 104, 25 January 1908, Page 5
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