Money Market
Messrs Chas. Povriiall and Co,, mortgage agents Wellington, report that business dining the last lmfath lias remained almost stnguant, with quotations unchanged, the rate of interest remaining nominally 7£ to 8 percent. Mou*y is unobtainable^ in auy large amounts, the banks having monopolized it by their extreme offers of 6 per cent, oil dvposit for twelve months. Wool, notwithstanding the strong attempt to stultif v the late rise as fictitious, will ea-« our moneymarket considerably, Uy circulating about three-quarters of a million over last year through this country. The enormous loss of sheep in South America and Australia must drive foreign buyers into the English market and jeelook therefore for certain further advances in place ©f any decline in, value. __ mmmm !
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Bibliographic details
Feilding Star, Volume VIII, Issue 57, 13 November 1886, Page 4
Word Count
123Money Market Feilding Star, Volume VIII, Issue 57, 13 November 1886, Page 4
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