The Pahiatua Herald. with which is incorporated THE PAHIATUA STAR. Published Mondays, Wednesdays, and Fridays. MONDAY, NOVEMBER 12, 1894.

Pahiatua Herald, Volume II, Issue 226, 12 November 1894, Page 2

The Pahiatua Herald. with which is incorporated THE PAHIATUA STAR. Published Mondays, Wednesdays, and Fridays. MONDAY, NOVEMBER 12, 1894.

0? igain i ■ doing business in Ihis Colony have found if nee iry to further n dime i.lm rate of inler-st on deposits. The* I’nion Hank, the think' of A us! rula: i::. end tin* Bank of JsVw South Walt E i.\ ,< reduced the deposit rati to H r cent, foi twelve months, and two p- r n ut. for six months —the lowest point, yd. touched in Now /• aland. Th money has In*.nil accuminula 1 ing in the hanks for a considerable time p:t i, and tho financial insti ..litmus esti finrl in outoullct for it in a period such as this, when securities are depn: sed at-d business Hat. Tho plein lm ailing of the reduction of the deposit rates is, that those three hanks are “ full up,” and want no more for a time. Tho effect of this movorn to making \ by necking sucli inv< ‘ menttt as will return a "‘mater rate of infer. The ;j:.od Work i fi■ . .E .• i !•, i li > A r:i ii in : hanks will Im duiliied by the New j Zealand iu ilitutiun. , v.dju. " rales vary

and are much higher. The old style of united action in a matter of this Kind seems desirable, but with the changed relations that exist this is not likely. Forcing the deposit rates to the lowest point is entirely in favor of general business. The turn of the tide cannot ho much longer in coining.