Money Market
♦ Messrs Charles Pownall and Co, jaortgage agents, Wellington, report under date, February 26, that the demand for capital on mortgage inve^t- ' nient during the last mouth was limited, and the business transacted confined to -a few minor operations. • While the value Of money.in the Home ' r " . market has, contrary to expectation, ■suffered another collapse of nearly , '2 per. cent. (Bank of England rates '. how. being quoted at 2, and commer- ' . cial at 1£), our supply has become" i .more contracted, and we/ have to quote '. present' rate of interest fully £ per ; • cent";: higher, viz , from 6£ to 7^- per v ' "cent/ •■■'• Tke ftjoliug' of uncertainty that , . \ Gi'SXQ.ts. as to the action- of the Govern- i .... Dieut during the comiug session is no ,<ipu,bt one of the principal- causes for this contraction, mortgagees • looking to.,the probability of further large ' loans being required, the interest for which can probably only be met by ■ increased property tax, and until this important question is settled, we expect to sco present quotations fully ( tattititaiued.
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https://paperspast.natlib.govt.nz/newspapers/FS18860302.2.17
Bibliographic details
Feilding Star, Volume VII, Issue 112, 2 March 1886, Page 3
Word Count
171Money Market Feilding Star, Volume VII, Issue 112, 2 March 1886, Page 3
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