NEW YORK MONEY MARKET
For the first time since la-t November, (he rate for call raonev on the New York Stork Exchange fell below 6 per cent, on April 5. when .51 per cent, was quoted, reports the Guaranty 'l.rust Company. Loans outside (be exchange were made at 41 per cent, lor the two weeks previous the rate tor call money ranged from 6 to 7 per cent., with 61 per cent, (ho prevailing rate. Time funds are still closely held and little business is being done at the 7 per cent, rate quoted for both classes of collateral. Commercial paper rates are 71 ;>or cent, and 7J per cent. The importations of gold and the continued reduction of loans brought the Federal Reserve ratio of reserves to deposits and Federal Reserve Notes np to 52.4 per cent, on April 2, as compared with 50.8 per cent, the week before nnd 42.9 per cent, a year ago. The New Yc.rk Rank, with a ratio of .56.7, shows a gain of 16.7 since the beginning of tho year.
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Dominion, Volume 14, Issue 208, 28 May 1921, Page 7
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177NEW YORK MONEY MARKET Dominion, Volume 14, Issue 208, 28 May 1921, Page 7
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