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Archive for Thursday, October 15, 2009

25 years ago: Bankers reduce prime lending rate

October 15, 2009

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Bankers Trust Co. reduced its prime lending rate to 12.25 percent from the 12.75 percent established by most of the banking industry the past month. The move by the nation’s ninth largest bank came at a time when borrowers were increasingly turning to other sources for short-term loans and it followed declines in the cost of raising funds for banks.

Snow mixed with rain was in the forecast to the west but Lawrence was not expected to be hit hard, getting mainly showers and thunderstorms, none of a severe nature.

More than 20 people were injured and 24 were arrested in Manhattan after Kansas State’s football victory Saturday over Kansas. The violence erupted early the morning after the KSU win and as many as 8,000, most of them students, packed into a two-square-block area near the campus to celebrate. Could that occur in Lawrence? Officials said it was doubtful since Lawrence did not have a congested area such as Aggieville in Manhattan where many wrere often crowded into uniquely confined space. “Obviously, when you get congestion and heavy drinking a celebration can turn into a mob,” said KU police director Jim Denney. “We don’t expect any such problems here.”

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