As they totted up their six months' earnings last week, bankers could appreciate the benefits of tight money. With companies everywhere competing for more loans than there are funds available, the interest rate on prime loans stood at 4%, while lower-grade risks brought up to 6%. By gradually shifting out of low-paying Government bonds to get more cash to lend, most bankers reported earnings at an alltime peak, in some cases as much as 19% better than last year.
Some record-breakers:
¶First National City Bank of New York increased its loans by 11% to $3.9 billion and, together with its trust...
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