Show BANK REDUCES I DISCOUNT RATE Eng English ish Concern Anno Announces s 5 5 P Per Cent Figure LONDON Nov 3 The The The Bank of England glan reduced Its rate of discount to 5 per cent from 5 6 per cent this morning morn morn- ing The Thela last t reduction In the discount rate was rate was made on July 21 last when It was was cut Vt per cent t 4 Reduction R Reduction duc on of the rat rate of discount bythe by bythe tb the Bank of or England t follows an announcement announcement announcement an an- an- an by the United States fed fei- fe federal l- l eral ral res reserve board yesterday yesterday that the discount rate of Ceder federal l reserve banks In eight districts had h d been cut Flue Flue- Fluctuations tu of the rate established by the Bank of England England have been of great r tin interest in- in In Interest ter terest st in the United States being indications indi Indi- caU ns of the financial situation in When the World war broke out In Aug August st 1914 the rate was advanced to 10 per cent the highest In tn the history of of the Bank Bink of or England that point haying having b been en touched upon only on two occasions during the panics of 1857 and 1866 1366 After a few days however It t w ivas wa reduced to 6 per cent and later to 5 p per r cent ent I |