Show Reducing Employee N II A New York dispatch this morning f rays The Railroad ps 1118 announced that the rate rato of Interest laid to depositors In the ravings fund will be reduced 1 from four per cent nt to three and a halt hlf per er cent the tho r to take effect on the first of next July Jub The rhe states that ot of the tho amount In this fund wits In invested I vested d last year oar In securIties bearing interest At mum average tatu of nearly tour four per r cent but Lut that In consequence ot of the iten y drain In the of oe In teft on securities tho re reduction In the rate ot of interest paId to tod d deposItors has hns now become necessary This step Is to that taken 11 by bythe th the lar large life Insurance companies In changing their reserve lucId on policIes from a 0 and IL a half per cent bills basis to a three p per r lent cent bals Very 1 few tew life insurance ct m Mill sUII maintain their on the old tour four per lef cent bash berau of oC the gradual lle In the account of their Invest Inest InestI I meats |