THE MONEY MARKET.
+ [PEE UNITED PBESS ASSOCIATION.] Wellington, This Day. At a meeting of the Wellington Trust, Loan, and Investment Company, Mr Edward Pearce, chairman of the directors, said that the year that had just passed was one during which the money market underwent a remarkable change. At the commencement of the year money was abundant and cheap, and continued so for several monthr, All at once, as it were, men dealing in finance, bgan to realise tbat a gradual hardening tendency had sent in, and before the end of the year the banks were paying 60 per i cent, more on deposits than they found it necessary to give twelve months before. He (Mr Pearce) had not come prepared with any conclustve reasons for this change, but it was satisfactory to notice that the stringency which arose quite lately was already passing away, and he hoped we might look to a return of a normal state of things in the immediate future.
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Bibliographic details
Feilding Star, Volume III, Issue 67, 7 February 1883, Page 2
Word Count
163THE MONEY MARKET. Feilding Star, Volume III, Issue 67, 7 February 1883, Page 2
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