THE MONEY MARKET.
ADVANCE IN RATES EXPECTED. (By TeleErapli.-Prcss Association.) Auckland, May 10. Discussing tie financial situation with a pressman to-day, Mr. H. Beauchamp, formerly chairman of directors of the Bank of New Zealand, expressed the opinion that tho heavy demand for money in many countries at the present time is exercising a hardening effect on money, for which reason he thought tho present time wonid bo inopportune for attempting to raise large loans, oitlier on the part of the Government oc the municipalities. The restrictive, policy being pursued by the banks and lending institutions in Australia is also having the effect of advancing tho rate of interest over there, a reflex of which shows itself in New Zealand as a matter of course. In fact, it would not be surprising to him to see interest on first-class mortgages touch per eent. before very long,
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Dominion, Volume 5, Issue 1437, 11 May 1912, Page 4
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145THE MONEY MARKET. Dominion, Volume 5, Issue 1437, 11 May 1912, Page 4
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