INTEREST RATES REDUCED.

Timaru Herald, Volume CXXXV, Issue 18913, 26 June 1931, Page 9

INTEREST RATES REDUCED.

DECISION OF AUSTRALIAN BANKERS. Unltad Pres* Association—By Electric Telegraph— Copyright (Received June 25, 11.30 p.m.) MELBOURNE, June 25. A conference of trading banks, presided over by Sir Robert Gibson (chairman of the Commonwealth Bank), to-day decided to reduce interest rates on June 26th, as follows: Fixed Deposits. New money and renewals (three months), 3i per cent.; six months, 3! per cent.; twelve months, 4 per cent.; twenty-four months, 44 per cent. Advance Rates. Advances rates generally will be reduced in due course. The Commonwealth Bank announces that the deposits rate will be reduced by 1 per cent., as from June 26. The advances rate will be reduced 1 per cent, on July 1. GOLF. N.S.W. AMATEUR TITLE. DEAFEAT OF NEW ZEALANDER. Uultsd Press Association—By BBsotrlc TolegraDh—CoDyrlsrlit (Received June 25, 7.15 p.m.) SYDNEY, June 25. E. L. Apperly, holder of the title, rather easily defeated H. A. Black (New Zealand) in the semi-finals of the State amateur golf championship to-day, eight up and seven to play. The Play Described. Apperly, who had shown excellent form in the present series, gave nothing away over the first eighteen holes, and aided by a couple of stymies, had a lead .of 5 up at luncheon. Black made several mistakes on the greens. He was a trifle unfortunate at the fourteenth hole, for with a win in sight he was stymied, and in a gallant effort to negotiate it with a niblick, he knocked his opponent’s ball into the hole. The New Zealander sank a 30ft putt on the twelfth green, but was too often short with his approach putts. The result was that he gave Apperly too many opportunities, which naturally were not missed. Black was never in the picture In the afternoon. Apperly relied on steady methods, and always had the New Zealander on the defensive. In the other semi-final, J. Ferrier beat W. R. Dobson two up and one to play.