THE MONEY TIGHTNESS.
REPORTED INCREASE OP INTEREST ON - ADVANCES. (by telegraph—SPEClAL CORRESPONDENT.) I Christchurch, March 1. / The "Ashburton Guardian" learns on good authority that in consequence of tho increase of i. per cent, on deposit rates made by tho banks about a week'ago, notice is •being given to tho customers of tho banks that interest on advances has .been, raised: by a; similar amount in Christchurcli. No actual steps havo been taken yet'to increase tho interest charged on advances. Tlijre has been a general hardening tendency in ilia money world, and in sympathy with that tendency, tho interest paid on deposits has been increased. The banks have to Keep a reasonable margin of profit, and if tho hardening tendency continues it will become necessary to charge more for financial accommodation.
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Dominion, Volume 1, Issue 135, 2 March 1908, Page 10
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130THE MONEY TIGHTNESS. Dominion, Volume 1, Issue 135, 2 March 1908, Page 10
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