The Money Market

Horowhenua Chronicle, 21 March 1911, Page 4

The Money Market

Very little alteration is noticeable ill "Wellington financial conditions (says the N.Z. Trade Review) there are still ample spplies of mo-ney available for investment, but the majority _ oJ iecurities offering are not considered very .satisfactory by investors. We are nearly through the March quarter, in which the bulk of our exports go forward, and the various returns for this period will be looked for with interest. The bank returns will most likely show a fairly heavy excess of deposits over advances, resulting from the realisation of the season's produce, though tho heavier scale of importation -.hat is going on will work in the' opposite direction as it will necessitate a reduction of the available fulids of the banks. Unfavourable weather was experienced early in the season, and latterly the want of rain has been felt in most parts of the dominion. The export of wool, which kept up well in the earlier .part of the season, is now dropping off considerably and it is stated by some that the season's clip will he from five to ten per cent short of the previous season . The export of meat was affected "by weather early in the season, hut is picking up now and heavy shipments are going forward, ©airy produce gives promise of a good season up to the present, but a reduction must be looked for from now onwards. On the whole we think the value of our exports for the season will reach a substantial and very satisfactory level, but do not expect to see them reach the high level of the 1909-10 season record!