OVERDRAFT RATES
REDUCTION NOT ASKED Believing that the time is not yet opportune for the reductioa of overdraft rates, the Auckland Chamber of Commerce refused yesterday to support a resolution from the Canterbury Chamber asking for “immediate reduction” of those rates. ATEMBERS said that bank statistics did not show an entirely satisfactory condition yet. To ask for the reduction would be inviting a snob. The following resolution was passed: “That It is important, in the interets of trade recovery, that immediately the statistical position of the bants as regards London balances and as regards ratio of advances to deposits shows signs of approaching normality, bank rates of exchange and interest should be restored to points approximating those prevailing eleven month:! ago.” jjHra
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Sun (Auckland), Volume I, Issue 305, 16 March 1928, Page 9
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122OVERDRAFT RATES Sun (Auckland), Volume I, Issue 305, 16 March 1928, Page 9
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