The Feilding Star, Oroua & Kiwitea Counties Gazette Published Daily. FRIDAY, OCTOBER, 2, 1896. THE MONEY MARKET.

Feilding Star, Volume XVIII, Issue 81, 2 October 1896, Page 2

The Feilding Star, Oroua & Kiwitea Counties Gazette Published Daily. FRIDAY, OCTOBER, 2, 1896. THE MONEY MARKET.

The New Zealand Trade Review re ports the money market continues easy with abundance available, while rates outride the banks are slightly lower. On mortgage of real estate CLoney can be obtained at 4J to 6 per cent, according to amount aud class ot security, 5 to o£ per cent being the most common rates. The bank rates are unchanged, while the terms offered for deposits are above those ruling in Sydney. Our contemporary asserts the chief hindrance to a reduction is the maintenance by the Government of the rates given in the Post Office Savings Bank, where 3^ per cent is paid on sums of £200 and under, and 3 per cent on larger amounts up to £500. As these terms are for deposits at call, it is difficult for the banks to reduce present rates. The rise in the Bank of England discount rate is of course a disturbing element. The primary object is, it appears, to stop the drain of gold to America, and, secondly, to check the enormous flood of company mongering which has arisen in England. The future course will probably depend on the turn of events in Europe and America. Should the " silver men " in the U S A. triumph in the Presidential election it is considered certain that financial disturbances amounting to a terrible crisis will follow, and the latter factor is perhaps even more threatening than the " Eastern Question."