CITY NOTES
... :1Bank directors who will not when they may, are in danger of having to raise the Bank rate when too late to go on saying nay. This week's Bank of England return shows a cash reserve of I3Y millions, which is something unheard of, in recent years, in conjunction with a Bank rate of 2 per cent. But the Bank directors see no reason for protecting their reserve, and go on inviting foreign bankers ...