The Fielding Star, OROUA & KIWITEA COUNTIES GAZETTE. Published Daily. SATURDAY, SEPTEMBER 4, 1897. THE MONEY MARKET.
Thk New Zealand Trade Review for the ourrent month reports there ia no change to record in- the money market. Money is still plentiful and cheap, therefore satisfactory securities of all descriptions are in active demand. As an indication of the position our contemporary mentions that a cooperative society in the Wellington district has recently issued a circular offering to make advances on the season's wool clip at 3£ per cent. Of course the commissions accruing to the business and the convenience of a medium of exchange are important factors in such a transaction, but with all these considerations the quotation is the lowest we hare heard of in this branch of business. Kates in the open market for mortgage advances rule at 5 per cent as a nominal figure and 4 to 4£ on special securities. Bank rates are unaltered.
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Bibliographic details
Feilding Star, Volume XIX, Issue 57, 4 September 1897, Page 2
Word Count
157The Fielding Star, OROUA & KIWITEA COUNTIES GAZETTE. Published Daily. SATURDAY, SEPTEMBER 4, 1897. THE MONEY MARKET. Feilding Star, Volume XIX, Issue 57, 4 September 1897, Page 2
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