The Rise in Money.
■* v The riae in the value of money in London, which took place in the middle of September, at once exercised a strong influence upon the market in all securities. Within a few days after the Bank rate was advanced from 2 to 2J pec cent on 10 September British Consuls fell 2^ per cent, English municipal loans from H to 6t} per cent, and English railway stocks and debentures from 4 to 8 per cent. These sharp movements indicate how closely prices of securities are dependent upon tbe price of money. Probably for a considerable time to come, Stock Exchange quotations will rule much lower than during 1895 and the first half of 1896. Prospects of colonial flotations are proportionately affected and indeed for the present it would hardly be wise to approach the London market. Possibly s«ys tbe Press, this is Mr Seddon's pain reason for desiring to float half a million loan iv New Zealand.
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Bibliographic details
Feilding Star, Volume XVIII, Issue 121, 20 November 1896, Page 2
Word Count
162The Rise in Money. Feilding Star, Volume XVIII, Issue 121, 20 November 1896, Page 2
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