To the Editor of the "Norru-Cuina Dainty News."
Smr,—I read with interest your leader-in this morning's paper on the successful flotation of Municipal Debentures at 7 per cent., and it appears to me that as the Bank of England has lowered its rate of interest to 4} per cent., it is about time the local banks considered the advisability of reducing their rate of 8 per cent. on overdrafts to a more reasonable figure. It would surely be a great boon to merchants, who have been' struggling along for some considerable time against adverse trade, if some reduction in the rate were made.
I am, ete., British Merowanr.
Text read from the printed page and cleaned; old type leaves the occasional error.