Show BANK REDUCES IN TERME TEREST RATE LOANS FROM LOCAL BANK REDUCTION OF ONE PER PEB CENT BECAME EFFECTIVE ON AUGUST probably the best bit of informs tion who has reached borrowers from the bank of df iron county in a long ion time is that the directors of that institution ution at their meeting one night last week decided to reduce their interest and discount rates one percent on all loans of or more made by them both old and new the new rate became effective on the first of the month and automatically effects a reduction from that time on on all loans of the bank in case of discount t notes where interest has been paid pai d in advance a refund will be made at the maturity arity of the note this action has teen contemplated for some time by the unk hsnk officials but a recent reduction b by the federal reserve board of one half of one per cent on rediscount loans makes this his an opportune time for the local banks reduction while the saving this action will effect to borrowers is a decided benefit yet of greater significance is the action as indicating a return to normal conditions in the money market of the country as well as reflecting ting the splendid condition of the local institution which permits such a reduction |