CITY NOTES
... \Eacr lays Bank of England return was apparently strong, as the ItpcypOrlion of reserve to liabilities has risen to over 40 per cent., and the reserve iwsif is 12,7i5,ooo. ID reality, however, there is not much to be made jf ,-ii return one way or another so far as any justification for a reduction in the Bank rate is concerned. That the open market should be very easy is ille\itable with so ...